So I currently have a late model 997.2 which i will continue to use as my DD.
But at a dealership up in the Seattle area (Cats exotics) I am looking at possibly buying a 1988 911 Targa with 57K.
Asking is just under 40K.
Car seems in great shape though I would do a PIP.
Does this seem like a reasonable deal?
I have very limited knowledge of the air cooled 911s so any advice is appreciated.

Thanks!

 

Prices for these cars are in flux right now. The entire Collector car market has experienced huge price inflation the last 18 months, so the Million Dollar question:

Is this a speculative bubble, a market correction from the 2007 financial panic, or a fundamental shift in global economics?

Conclusion... if you can answer this question, you get the 2018 Nobel prize in Economics.

To your point, two years ago I would tell you that $40K was ridiculous, but today, if you want a classic Porsche, intend to keep it for a long time, and enjoy driving it, you probably can't get hurt at that price.

Understand that dealers will mark up a car $4-5K for their profit, but if they are knowledgeable, and honest, they are adding value.

Bottom line, if you buy a new Boxster for $70K today, in three years it will be worth $40K. If you buy a good, documented and no-excuse 3.2 Carrara for $40K, in three years it will probably still be worth at least $40K.

For $40K, I'd want rock-solid documentation, a flawless PPI, and enjoy driving the car... things like heat/defrost and A/C are not part of the program, but they are thoroughbreds, and reward serious drivers in a way that modern cars just don't.

 

not the original wheels (road and steering)
seems like a bit more than the expected wear on the driver's seat?
fit of the front lid at its right front corner looks questionable?
from the photos the left front wing/fender is a different shade than the door?
someone liked their music!

None are show stoppers but worth checking. A PPI from a knowledgeable person is well worth the money.

 

Thanks for the advice!

 

Seems high priced, unless really perfect. Sold my '88 for under 30k last year, 5k on a top end rebuild, suspension refresh and new, rebuilt targa top. Car had just over 100k miles. Market seems to going up and up on air cooled.

Do lids of homework on the car.

 

Seems reasonable on the surface especially with the low miles. However, you will not know until you get a detailed PPI. Some Porsche air-cooled experts can do a surface PPI just looking at detailed pictures. I paid $100 for someone to look a pictures of an 87 911 and that saved my the multiple of hundreds of dollars/time for a detailed inspection. Basically we did not even need to get a car on a lift to know I should walk away from the car based on what I was looking for.