Trade vs Book Value

[phast]

I'm ready for a weekend car, AGAIN. My last Porsche was in 1985 - memories that have been long lasting. I've done my test rides of Corvette, Z4 and now down to either Boxster Base or S with or without Tip. The JURY is still out on the TIP vs Manual, the Base vs S is matter of $$. However, is there more to S than Red brake calipers, +30HP, 5 vs 6 speed manual, and a sport suspension? What am I missing?

Question: If any of you have turned back 03 or 04 Base or S on a lease or trade, what was the difference between what they gave you and what Kelly, Edmunds or NADA indicated the value was? (So far NADA seems most realistic on value).

I see a lot of cars listed on Autotrader and eBay at ridiculous high values and I'm trying to figure out if these guys are either fishing or these values are real? I notice that very few cars are sold on eBay (completed auctions) - I figure this is either local sales or the Boxster market is very soft and even the realistic prices are not met.

I'm located in South Florida and there seems to be a never ending stream of OFF LEASE cars. I've kind of focused my search at private sales as the few Boxsters I've seen at dealers (and I confirmed the CarFax and they are off lease turn_backs) are beat to crap. My concern is that lease cars don't get TLC and after getting scared to death about IMS, transmission and major $$ brake replacement prices, I'm being extra cautious. I've focused on cars with less than 50K as the 60K maintenance is a killer. I have found a local Indy mechanic who specializes in Porsche and can do a PPI - which should almost make the odds of a buying a problematic car a bit in my favor.

Advice or Help is very welcome! (I've read a lot, and Mike Fockes' buying guides have been very helpful).

[70Sixter]

:welcome: :welcome:

No experience with leased cars, but if you've read Mike Focke and know to get a good PPI you will be in good position. Make sure there are maintenance records. There are plenty of very nice cars available right now, so be patient and buy the absolute best car you can afford. And one with the options you want.

IMS can be fixed/upgraded by Jake Raby, but the old 2.7 had its cylinder head studs and valve guide problems. From the 901 there were chain tensioner problems. And there were the exploding air boxes. So don't let the new possibility scare you off.

Good luck and enjoy the hunt.

Edited January 23, 2010 by 70Sixter

[beauar]

not sure what your price point is but I would look at a 911. you can get a great example for a great price these days. Either a 996 or 997 depending on your budget would be a great choice

I'm ready for a weekend car, AGAIN. My last Porsche was in 1985 - memories that have been long lasting. I've done my test rides of Corvette, Z4 and now down to either Boxster Base or S with or without Tip. The JURY is still out on the TIP vs Manual, the Base vs S is matter of $$. However, is there more to S than Red brake calipers, +30HP, 5 vs 6 speed manual, and a sport suspension? What am I missing?

Question: If any of you have turned back 03 or 04 Base or S on a lease or trade, what was the difference between what they gave you and what Kelly, Edmunds or NADA indicated the value was? (So far NADA seems most realistic on value).

I see a lot of cars listed on Autotrader and eBay at ridiculous high values and I'm trying to figure out if these guys are either fishing or these values are real? I notice that very few cars are sold on eBay (completed auctions) - I figure this is either local sales or the Boxster market is very soft and even the realistic prices are not met.

I'm located in South Florida and there seems to be a never ending stream of OFF LEASE cars. I've kind of focused my search at private sales as the few Boxsters I've seen at dealers (and I confirmed the CarFax and they are off lease turn_backs) are beat to crap. My concern is that lease cars don't get TLC and after getting scared to death about IMS, transmission and major $$ brake replacement prices, I'm being extra cautious. I've focused on cars with less than 50K as the 60K maintenance is a killer. I have found a local Indy mechanic who specializes in Porsche and can do a PPI - which should almost make the odds of a buying a problematic car a bit in my favor.

Advice or Help is very welcome! (I've read a lot, and Mike Fockes' buying guides have been very helpful).

[mikefocke]

Is there more to a S?

Sure is. Look at the model year differences web page and around 2000 there is a sudden appearance of the S with its differences listed.

But, in all honesty, having had a 2.5 '99 and a 3.2 '01S, the enjoyment is the same. And I like the TIP for the in-traffic ability, and when I'm out in the twisties, I can always paddle shift. I drove stick exclusively for years, not any more. But that is a personal preference.

As to the brakes expense, depends on the maintenance the car got as much as the mileage. Here records are important. I redid mine completely at 42k miles when I bought it. They needed it. My PPI showed they needed redoing. I factored that into the price I offered.

As to IMS and RMS, I'd rather have an always driven car than a low mileage one. And the difference between a 40k '03 and a 60k one is to me meaningless if both have been maintained. Of course one just out of maintenance is worth more because you won't pay that for 30k miles more assuming something wasn't found during that inspection that you don't know about.

[phast]

THANKS ALL for your replies and advice.

As for price, I've settled in on the $20K price range and from I can see, I'm right in there for a '03 and maybe an '04. I think South Florida (West Palm, Ft. Lauderdale & Miami) is a HOT (so to speak) area for Boxsters. Unfortunately, many of them are end of lease sales and their records are incomplete.

MIKE: I've read your complete guide on buying etc, and when I read it I thought you were talking about me! We seem to be about the same age, have owned a lot of cars over the years and the general advice you gave is exactly what I would give someone else. However, your personal experience with Boxster's was great reading and is invaluable! My preference on the manual vs auto is on the fence. I agree, getting around town with a 5/6 speed is a bit tedious - and the Tip has the advantage of the paddle shifters as a great substitute when a twisty road is found (we don't have a lot of twisty's here in South Florida unfortunately).

I'll rely on a local guy who I found to do the PPI - he seems very knowledgeable about Porsche cars in particular. Hopefully that will lessen the risk of making a huge mistake.

I'm looking forward to coming back soon and posting pics of my first Boxster.

Regards,

Phil

[seafeye]

I think the 2005's are going to bring down the prices of the 03-04's.

Here is one for $22k. http://www.autotrader.com/fyc/vdp.jsp?ct=u...;standard=false

You are right on the money with $20k for an 03-04. You should be able to get a nice one for that. I was looking for an "S" in those years to replace my 99 but then I love my car and if i wait another 2 years i should be able to get a Cayman for a reasonable price. Maybe under $25k in 2012?

http://www.autotrader.com/fyc/vdp.jsp?ct=u...;standard=false

THANKS ALL for your replies and advice.

As for price, I've settled in on the $20K price range and from I can see, I'm right in there for a '03 and maybe an '04. I think South Florida (West Palm, Ft. Lauderdale & Miami) is a HOT (so to speak) area for Boxsters. Unfortunately, many of them are end of lease sales and their records are incomplete.

MIKE: I've read your complete guide on buying etc, and when I read it I thought you were talking about me! We seem to be about the same age, have owned a lot of cars over the years and the general advice you gave is exactly what I would give someone else. However, your personal experience with Boxster's was great reading and is invaluable! My preference on the manual vs auto is on the fence. I agree, getting around town with a 5/6 speed is a bit tedious - and the Tip has the advantage of the paddle shifters as a great substitute when a twisty road is found (we don't have a lot of twisty's here in South Florida unfortunately).

I'll rely on a local guy who I found to do the PPI - he seems very knowledgeable about Porsche cars in particular. Hopefully that will lessen the risk of making a huge mistake.

I'm looking forward to coming back soon and posting pics of my first Boxster.

Regards,

Phil

[mikefocke]

If you are near to Pedro, I recommend him to do the PPI.

http://www.pedrosgarage.com/Site/Technolab.html

[phast]

Looking is the next best thing to driving your own Boxster - so I am taking my time and trying not to settle on a compromise - I think $20K or less should get me what I want, but finding a S with TIP in one of two colors has been a bit of challenge - I might have to settle for another color other than silver or red - there are a lot of black and blue cars down here and finding the right options is like finding a needle in a haystack (LOL).

Mike: YES, it is Pedro - he is just 10 miles from where I live and we chatted on the phone the other day and felt very reassuring he can do a proper PPI.