wannaB1987

Test drove a 1987 Porsche 944S w 119,000 odometer miles for sale for $5500. FUN ride. like butter. great roads for a test drive too. limited/lacking service records, the seller had "a porsche guy." engine replaced with an S2 engine (50,000 miles on the engine vs. 119,000 on the body) he forgot to mention this engine replacement in the ad. some panels replaced, new tires, clutch, brakes, blower fans, fuel pump, shock and front struts. Quick online vin report "vehiclehistory.com" shows conflicting mileage info- 95,000 in '02 and 125,000 in '08, exceeding odometer reading of 119,000. tachometer needs replacing or rewiring. oil coated oil pan
is this a shady deal? or worth it? i want something cheap, cosmetics i dont care about, i understand i'll have to put a few hundo into it every year or so in upkeep and repairs, but is this likely a money pit? i'm thinking of offering maybe $700 below asking and going from there... should i offer less? he mentioned ther's little interest so far and im the first to drive.
any advice greatly appreciated.