HeelToe

What do you guys think about a 1997 C2 with 122,000 miles for $22,000?
It's going to be a daily driver and it will see track time 3x per year, so I'm not interested in paying a premium for a low milege car, just to go over the magical 100k mile mark and see the value plummet. On the other hand, starting out at 122k is a little scary - how much can you possibly get for a car that may have 160k in a few years?
The car looks well maintained and the claim is, of course, "highway" miles. But in this case, it's believable - it's in NJ (famous for everything being near I-95) and the driver's seat looks great (seat covers?).

I've been looking for months without much luck. My biggest problem is that the exterior MUST be black, since it's been proven to be the fastest .
I also love the red cars, and Iv'e come across some great ones mostly on rennlist classifieds, but I can't handle the constant stress of driving a police magnet.

Option 2 is a 1995 C4 with 59k miles for $36k - black, of course, but it needed a windshield, an alignment (new-ish front tires feathered on inside edges) and the 60k mile service. Factor in travel costs and the actual cost was $40k - good deal or not? I can't tell any longer.

Uhhh...sorry I rambled a bit...

Mark in Baltimore

If you don't go for the 1997 C2, please PM me, as I would consider buying it. It's a good deal if there are no stories. If you want to buy but think you may sell in a couple of years, if it hasn't been wrecked or have some awful paintwork, this may still be a decent deal. Lots of buyers will be dissuaded by the high miles, though.

BTW, great avatar.

HeelToe

Oh, one more thing to consider.
Carfax reveals the following:
"12/03/2001 - New Jersey Police Report Case #2001-15460 Accident Reported in Morris County involving left rear impact"
Positive - this appears to be a 1-owner car.
Negative - quarter panel repair is a little more serious than a simple fender replacement.
I'm waiting for the seller to contact me. I want to see the repair bills.

HeelToe

Thanks Mark.
The avatar is my 1 year old Portuguese Water Dog - she's nuts! Always running around with her tounge flapping.
I also have a 3 1/2 yr old that's "normal"

Mark in Baltimore

It depends on the work done. Again, many P-car owners, new to the marque or not, are looking for pristine cars with full records, no accident damage and low miles. That's the way I was. Little did I know how quickly the grip of the track pipe would take hold of my soul; if I knew in advance what I know now, I would have bought a high mileage example and saved the money on the mods I was going to buy anyway.

Mark in Baltimore

BTW, I love blurry, action shots of dogs; if the spirit fits, it seems to capture their essential nature.

DJF1

Well that is what I thought until I had an accident with my race car in which the rear quarter was toast. It looked so bad, that I thought at first for sure tab damage. It was not so. The tub was straight and true so in reality the repair was pretty simple. After my accident I came to admire Porsche engineering I was simply astounded by how well the car held and especially the chassis.

HeelToe

My thinking, precisely. I'd be able to do PSS9, RSR, 100-cell cat, wheels, tires, etc., easily within a reasonable budget. And I may not have to sell the Miata I love to abuse so much on the track...and the FR125 Rotax.
This is sounding much better now.

RallyJon

Ahh the Mileage:Cost ratio. I agonized over that, too. I looked at a pretty nice, low mile car for a very high price, and a fairly beat higher mileage car. I ended up spending a pretty reasonable price for a mid-mileage, good but not perfect "driver".

What made the difference to me was the conclusion that--in the used 993 market--mileage is THE dominant factor in pricing. There are so many pretty good cars around, yet a pretty good car with 30k miles can cost $10k more than an equally good car with 60k miles. That is, in my opinion, an excessive mileage premium!

Why pay so much more? So you can get some of the premium back at resale? Now there's a dumb investment, even if you only drive 10 miles on alternate Sundays. There's also the mall parking factor. Do you want to be that stereotypical Porsche weenie parking a hundred yards out in the parking lot? You buy an overpriced, low mileage car and you have to worry about protecting your investment. I decided I don't want to worry about putting extra miles on the car, or if it gets an occasional door ding.

If the 993 will get 10k+ miles a year, or if you plan on modifying or personalizing the car, there is no reason to pay a mileage premium. Instead, you'll do much better finding a mid-mileage car with all records and in good condition. These cars seem to be low to mid $30s.

For very high mileage cars, I was concerned about having restoration expenses, not just maintenance. At 120k+ miles, everything will be starting to wear out.

HeelToe

At $22k, even if I need an engine rebuild in a few years, I'm still well below the very cheapest mid-mileage cars. Which, BTW I have not been able to find anywhere near the low $30s, at least not in black. Check Autotrader - a few black cars with mileage around 80k all asking $35-39K. Any I come across that are slightly less have bad histories.

I'll keep searching, but I'm going to take a ride out to NJ ASAP to see how it really looks/drives.

RallyJon

Assuming the engine rebuild is all it needs. High mileage cars have a habit of nickel and diming their owners. A lot depends on your outlook. Things wear gradually, so you don't notice how bad they've gotten. It's not about engine rebuilds, it's about bushing and motor mount wear, deteriorating seals, compressed seat cushions, gears starting to grind when you shift fast, creaks and squeaks, etc, etc.

Those are asking prices. Keep looking. I compiled a resource of on-line car markets and dealers here:

http://www.rallystuff.com/pcar_sources.html

In the past year, on this board alone, a black '96 with 80k miles (but with a recent top end) sold for around $30k and a 33k mile '96 sold for high $30s recently. I wasn't quite ready to buy or I would have jumped on either.

HeelToe

HOLY SH*&%#&*! Jon
I don't know whether to thank you or kill you for this.
And here I was only searching through half a dozen resources...daily.

Adrienne

I'd buy it. That's a great deal. And ditto on the avatar; that's great!

burrow01

Hi,

I had a similar situation with my car - 168,000 miles when I bought it, but had already had a top end rebuild, interior etc was in good condition

Had a PPI done, and bought it.

So far I have had some problems with the cab roof, and a new set of tyres, but i am up on the deal as far as I am concerned. Even if I spend another £10000 (UK Based) this would only bring it up to the price for a lower milage example, which could still require a top end rebuild.

Did you buy it in the end?

Pete

993inNC

I'll fight cha for it ........BTW don't you already have a Miata to sell first?

I'd buy that thing at 20K and not think twice!