Although I have seen quite a lot of bad comments on the Porsche 996 series 1 cars with the 3.4L engine (only after I bought mine 2 years ago), yet I have something good about this car which I would like to share.
First came out in 1998, the 996 with 3.4L water cool engine has been a car that I have enjoy for the past 2 years. Even I have spent bucks and months at the beginning fixing all these oil leaks, worn suspension bushing issues. As a Porsche, some said because it is not air-cool, it cannot be judged as a real Porsche, at certain stage I do agree but in practical term, I really think the answer is "NO". The water cool engine to start off with allows the engine to produce more power (300HP) with smaller capacity than the previous air-cool models such as 930, 964 & 993 and is quite enough for normal driving with fun. Besides, very important that it also allows the air-conditioning system to have great improvement especially during summer when it gets up to 35 deg C here.
Before I purchased my 996, I was actually hunting for either a 964 or a 993, however as they have been classified as collectables these days, the price tag to own one has been rather unacceptable, specially as a 1st Porsche to me. Then after searching for ½ year, I found out one of my close friends actually has a 996 C2 for sale, I called my mechanic and discussed about parts price / normal fixing cost, etc. After proofing no previous accident record shown, I have decided to go ahead with this purchase.
One major issue that attracts me about this car was the amount of money spent recently by previous owner on this car. If he was not buying a VW Golf R, I guess he would have kept the car for a while after spending these much. 1st, the car came with a set of rare Sport Seats which feels better than the normal Carrera seats. It has a set of overcoil KW suspensions (3 months old). It has a Gremballa steering wheel plus nice looking yellow tone gauge dials. It has a factory fitted GT3 body kit (without the rear spoiler installed but available as spares) and a set of nice 3pcs 19in alloy wheels. Also a set of nice sound and free flow exhaust system which bring back a bit of the Porsche engine sound.
During the 1st 3 months after purchase, the car has spent 99.9999% its time in my mechanic workshop replacing gaskets, oil seals, etc. As well replacing new brake rotors and pads, my mechanic also decided to put a set of bigger size Cayenne front rotors to the car using original 4-pots calipers (originally was going to fit a 6-pot but failed as only later model 996 can do this job). Besides, all underbody bushings were replaced at the same time.
At this stage, I know most people would say this car do not worth putting too much money on but as my 1st Porsche and like all other cars I have owned before, I always keep my cars as good as they can. Money cannot be counted here for all car lovers, I guess.
Generally, I think a 996 is a good 1st Porsche for people like me. It provides certain level of comfort when driving in the city while give me enough pleasure when you drive fast on highways. It's a Porsche that do not cost a lot of money to buy and to run and maintain. It's a car that you can pass the key to your wife without worrying whether she can handle or not. Regarding the major RMS leaks issue, as long as the seal has been looking after well and prevent oil leaks, it is not a major problem at all. Regarding the cylinder cracking issue, according to most forums, it only happens to very small amount of 996. So why these should stop you from buying one as said in one of the Total 911 magazine story about buying 996. I have owned the car for almost 2 years; the car is a 2nd car which I use mainly on the days that I really feel like driving. My last service was 8 months ago and has only covered approx. 4000km but I do check oil level very regularly and so far no oil seems to be dropping from the engine at all. For a Porsche that cost 4-5 times as much as I paid for when new, I really think it is really worth buying.