Ed Hughes

It all depends on what you want to achieve. A good solid high mileage 911 could be a fun project to fix as you go, but you will end up spending a lot of money. As you point out, it could be spread out over time and you get the satisfaction of doing the work, assuming you'd do it yourself. There is nothing wrong with this plan, it just does not make financial sense if you look at ROI.

Personally, I threw in the money towel long ago, but I've had a lot of fun with my car, and know it pretty darn intimately.

Daniel Dudley

You need a PPI. Really. Nothing is more frustrating or expensive than the wrong car. parts to do your cams will be about 1200.00. If you are not doing the cams yourself, that will be 5,000.00. If the wrong mechanic does your cams, it will be much, much more.

Some people restore player pianos. Nobody pays to have it done. That could be a nice driver. It could be your worst nightmare. Most likely it will cost you more, and give you back less than a nicer car with lower miles. BTDT.

Nothing can kill a dream faster than writing checks on a car that you never drive.

joseph mitro

what's your definition of "restoration?"

true restoration....not just body and interior but suspension (bushings, bearings, hubs, shocks, etc), drivetrain (clutch, tranny, flywheel, etc), brakes (rotors, calipers, lines, pads), wheels, tires, electricals.......

if you're asking these questions then my opinion is you're already in over your head and you will end up spending way more money than it's worth. UNLESS you do all the work yourself. Even then, the parts alone will be more than buying a nice low-mileage car.

if you're looking for a cheap daily driver, and can do the mechanical work yourself, then maybe it's worth a shot. I just got a 78 SC for the same reason.

vtrich

Personally, I think its a neat idea. Most of us spend large amounts of money on our cars. As Ed points out, many/most of us don't typically contemplate the return. It feels good,...it looks good,...and for me, what I get from my car easily exceeds whatever "financial" loss I may incur. Oh, and the OP could be talking about buying a new 997 instead,...now there you can talk about a meaningful annual financial hit. And, if you have the patience to do it over time then you will have one large expense each year,..or two,...and each time it'll be like a new car to you. I like it. As many others have mentioned, it'd help if you're starting with a really sound car.

Good Luck,
Rich

sj340

If you "don't want to spend $25000 right now" as you say and that is the reason for taking a high mile possible money pit on as a project,I see your point.
I normally would not suggest financing a toy,but in this case it would allow you to afford the exact car you want in the condition you want and not have to deal with the possible nightmare of restoring a high mileage car.
The interest you pay for a loan on a perfect car will seem like pennies compared the the sinkhole you are looking at.

srf506

As has already been stated, the restoration will cost you more than the car will be worth but, if you enjoy wrenching and restoring as a hobby, and not as an investment, than I say go for it. The 3.2 Carrera is an excellant car, makes a great "daily driver" and has the performance to be fun to "play with" when the mood strikes (which I would bet will be often). Good luck with your decision.

500

I am a poster child for getting into stupid restorations. What you are contemplating is exactly what I have been doing for a few years now on a 1987 944S (obviously a less valuable car to begin with, but instructive none-the-less). I have done everything myself (with the exception of machine shop work on the cylinder heads, flywheel, crank, con-rods etc).

At this point I am not done, but getting there. I will have a 944S that will be better than new in many respects and will have cost me a frightening amount of money again... with me doing all the work, including paint. And, it will have been a long time coming... years of not driving a P-car... years I won't get back!

To do this level of restoration paying others to do the work would have been unimaginable.

It sounds to me like you are contemplating having others do a significant portion of the work. Done to a high standard, it will cost way more than you will believe.

I have tried to keep my 911 more under control. It was a lowish-mile car (~100K) with no rust (except for the suspension pan) and original paint. I have still spent a stupid amount repairing the suspension pan and refreshing the suspension, paint and interior.

The suggestion to finance a really nice car as an alternative to spending low dollars on fixer-upper and working from there is EXCELLENT. Yeah, financing an old car seems like a bad thing to do, but it will be much cheaper in the long run.

The one good thing about my "adventure" is that I have learned a phenomenal amount of skills, it has been fun. The downside is when I realize what kind of car I could have had for the amount I have spent!

Ed Hughes

There is no other car that is more fun, and sometimes challenging, to wrench on, IMO. The satisfaction of a job well done, especially when improving via restoration to original specs, or "upgrading" to your aspired-to specs, is second to none the first time you hit some twisties or the track.



Except maybe an A/C upgrade.....



Personally, I won't finance any car.

UberXY

Remi: see this. https://rennlist.com/forums/911-foru...-for-sale.html

_Remi

Thank you all for the great feedback!

First thing to say is that I would not be able to do a lot myself. I live in a city, I don't have a lot of space and I don't have any of the skills for now. So basically, I can do oil changes, I believe I detail cars correctly but that's pretty much it. Engine, paint and interior work would have to be outsourced and prices are steep in my area.

Then, the value of my Boxster S right now is probably about $14k, I am getting married in June and I am 26. I am very lucky to be driving a nice Porsche so let's just say that it is getting difficult to justify a toy that is $10k more expensive. That's why I was thinking about selling it and putting about $8k to buy a new one and start slowly.

You convinced me that assuming I cannot do anything myself, this project will most likely be a disaster financially. The best I can do for now is probably sell my car, save on insurance and parking for some time, save a little more and be ready for that beautiful 3.2 that I am dreaming about. And I should probably wait until I get married

P.S: Uber, that turbo look is amazing!

500

I hear you Ed. I wouldn't either. However, if I had done that back when I started with the 944 and bought something like that Turbo look, I would actually be much, much further ahead financially (taking resale into account).

I agree though that the very wisest option is to wait and just pay cash, which is what the OP is doing - good move, Remi, as you said you have saved yourself a lot of $$$ with your decision. Best wishes for your wedding!

Rinty

Why not just keep the Boxster? You'd have to pay for parking and insurance on the 3.2 anyway.

And your new wife couldn't have too much to say about your previously owned property.

Brett San Diego

If I had waited until I got married to buy my first Porsche, there probably never would have been a first Porsche.

So you have a Boxster already... I don't understand this statement.

You have a Boxster, but you just want an old 911 instead? What toy is $10K more expensive, a potential 911 purchase? Are you saying that you can't justify paying $24,000 for an old 911? Well then, don't pay that much. Sell the Boxster and buy a decent 1978-1983 911SC for equal money, and be happy to have scratched that 911 itch. There are very decent SC's for $14,000. You can probably find a decent 84-86 Carrera for that money, too. OK, you'll probably have a couple thousand or more in reconditioning right off the bat, but I think you can situate yourself in a nice driver car for quite a bit less than $24,000. But, you do have to go in eyes-wide-open, protect yourself with good due diligence on the potential purchase, and realize that you're buying at least a 24 year old car. There could be a major engine expense looming, for example. Although, if you keep the Boxster, you face the same possibility of a major engine expense. Touche.

I bought a Boxster new in 2001 and sold it 3 years later to buy a 1978 911. I took a bath on depreciation of the Boxster, but I couldn't be happier with the direction my Porsche ownership experience has gone since then. And, that's what it is about, not just the car but the whole experience.

Brett

_Remi

What I meant was that we have to face many expenses for the wedding and that's why it would be a little inappropriate to do it now

As far as the Boxster is concerned, it's a great car (especially with the S engine) but not really the Porsche I was dreaming about. If I sell it in a couple of months and save parking + insurance for some time ($300 + $100 / mo), it will definitely be easier to get a 911!

Brett San Diego

The Boxster is a brilliant car. I loved mine. Still see it from time to time.

I was seeking clarification on the $10k more for a toy statement. I didn't think there was any reason to spend $10k more than what you could get for the Boxster for an older 911. About even money will do you fine. $300/month for parking? Ah, just saw San Francisco in your profile... Now I understand. First order of business is to move out of the city, get a garage where you can park the Porsche, then figure out what to do.

Good luck,
Brett