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Let me tell you a story...I've been search and study for a year. Just bought a roller ($4K 02 coupe) that the PO bought 4 years ago for $17K and spent another $17K over the course of his ownership on all the preventative items mentioned above + some unexpected things like alt, ignition switch, suspension, window regulator and other little things that pop up in-expectantly. Then one day the car lost power, chk eng light came on and he had towed home. He tried to start it again (big mistake that probably added another $3K in collateral damage) and that was it, he's done.
Now I own it knowing that the car (body/chassis) has been loved and cared for and will get a rebuilt motor that should last me a long time. I hope to be all in for under $20K.
Documentation with good service history is key. Be ready with cash in hand to jump one the right one when it comes along. Form me this was the best option as now I know exactly what I have.
Lol, debating the unknown. There is no absolute here. The only facts are, these cars were $70-100k new in the late 90's early 2000's and are now almost two decades old. Parts will fail and need to be replaced. Depending on how many, how often and whether or not you can do it yourself will dictate if you're dropping $500 or $5k per year to keep it on the road. Proper due diligence in finding the right one will certainly diminish the likelihood of unexpected exposure, but not alleviate it all together.
I for one can do most of the wrenching myself and choose to replace parts based on age/mileage not after failure. This makes the car pretty manageable and fairly reliable, but also keep an emergency fund on hand for all of the reasons stated above. If you can do the same: buy one, enjoy it often and worry about other things in your life.
You couldn't pay me enough to DD my 951.....you just get tired driving that car. The 996 on the other hand is just so nice and you are relaxed when you reach your destinations. I think your wants and your budget don't line up, but there is no doubt that I would go with a 996 over a 944. If you got a NA 944 I think you would be vastly disappointed in the power, and if you got a 944 turbo, you would want to spend $$$ to make it faster. They just don't have much power in the stock form. The 996 is perfect.
WOW! As a former 951 owner I have to say that I really enjoyed driving mine whenever I could, and IMO the 944 turbo makes an excellent DD. Unfortunately reliability was a factor -- mine spent just as much time with the hood up as it did down. Granted, it was a 1986 and was plagued with a variety of early issues like brittle stainless exhaust manifolds, fiddly timing and counter-balance shaft belts and a host of other things. BUT, it was quiet, comfortable, relatively quick with 225HP (very brisk boosted acceleration), fuel efficient, near 50-50 transaxle weight distribution, totally neutral rail-like handling in excess of 150MPH and best of breed with widebody styling. I for one never got tired of driving the 951 and would have one any day. As long as I could still have my 996, that is.
I've owned both. Both are fun cars. 944 is much lower on power but parts seem to be less expensive. Mine had over 180k miles on it when I sold. Timing belts need adjusting every 15k miles and replacement every 30k. Not a terrible job with proper tools. Can get a nice one for < $10k. 996 is much more car as far as power and luxury. You will spend more $s on maintenance, gas and tires. Some known issues with m96 motor, too. Most issues can be rectified with proper upgraded parts for basically trouble free running. One issue is there are more electronics that can fail on the 996. Both are great cars, but different animals for sure. You might look at a 968. Largest production 4 cylinder car and has ample power. A bit harder to find and priced closer to a good 996, but is a nice compromise between the 2. Something to think about.
Here's an update. After searching for about a month and a half, and after a very careful consideration, it is my pleasure to announce that I have finally joined the 911 ownership bandwagon! She is a Millenium Edition with an upgraded big IMS motor. I've had the pleasure of driving her from Virginia to Detroit, and boy was she spectacular! I had no need for the radio, she was singing all the way through! The PO is an absolute gentleman and has helped me through the deal a lot. I had a PPI done with Chapman in Virginia and she turned out to be in a very clean condition. The only issue was a broken Oil Filler tube (supplied replacement by PO). After a week of getting to know her, here are some pictures!