SomnoBoost

Dummies like me probably make these posts all the time, but here I go anyway...
I'm 43, wife and I make about $145k between us. We have one car payment (hers) and a modest/moderate mortgage. One kid. No debt really.

My question: Can I afford to OWN a Cayman?? I know I can afford the $20-25k to buy an older model but I'm wondering about reliability. It would be my weekend car since I have a Volvo V-50 to daily. I do understand that routine maintenance costs are high but I don't feel that will be an issue for me. It's the "major" stuff that scares me. I'm not much of a mechanic but I'm learning. Not really interested in fixing cars as much as I am owning cars that don't need fixing! But I am a realist and know I will need to get my hands at least a little dirty on what I'm confident doing. I keep reading that Caymans are pretty darn reliable. And THAT is what put this obsessive thought in my head; I WANT A CAYMAN!!

ALL input is welcomed. Even the stuff I don't want to hear.

manifold danger

To say Porsche is one of the most reliable manufacturers is conservative. Last I checked, they were tied with Lexus as THE most reliable.

That said, Porsche maintenance is expensive, as you say. Expect to pay $300 every 10k, $6-800 every 20k, and upwards of $1000 or more for a 30k service. Don't forget tires; they won't be as expensive as a 911 but if you're not used to owning a sports car the cost will kick you in the *** when it comes.

You can of course do the maintenance yourself but keep in mind most people in the secondhand Porsche market will be sticklers for maintenance records. And if something were to go catastrophically wrong, it could be a dramatic sticker shock. But I do want to reinforce that the likelihood of anything like that happening under even intense driving conditions is very, very low. Porsche really is a cut above as far as they fully expect their customers to DRIVE their cars, and they build them as such... which is why their reliability is impeccable.

If you have the obsession, you really should follow through on it. A 987 Cayman is a pretty damn good value; you get a whole lot of car for a reasonable sum. I'm not an accountant but the numbers seem to add up just fine... but if you need more convincing, the resale value for Porsche is probably also better than just about any other manufacturer. As long as you don't get too crazy on your financing term or interest rate, you'll always at least be within shouting distance of breaking even just in case it wasn't as amazing as you expect it to be and you need to bail out of the payments.

For me, I place a little more priority on cars than most people, and I'm fine with that. Maybe that equates to one or two less vacations a year, I don't have any desire for boats, jetskis, or motorcycles, I don't own an RV, etc. etc. But I choose to get my kicks out of driving a high end sports car (and mine is literally 3 times more expensive than what you're considering... and I don't make 3 times as much!). Seems like you're there too, and you're keeping it reasonable by going secondhand.

I see no fault in this.

BillC3

As long as you keep up on maintenance, modern Porsches are relatively inexpensive to own (compared to other brands in the same price range). However, maintenance costs do go up if you track the car, since you'd be using it harder.

The first-gen Caymans (987.1, '06-'08) are pretty far down the depreciation curve, and can be good deals. However, they still have the infamous IMS bearings, so that can be a concern.

The second-gen Caymans (987.2, '09-'12) are a little rarer and harder to find. They have a redesigned engine without the IMS, so are actually in higher demand on the used-car market. The extra peace of mind might be worth the extra cost, if you can swing it.

As always, you're generally best off buying the best Cayman you can afford.

extanker

oooppps double post

extanker

get a new base cay....do not even think about an 08 and down . all of them are more expensive to run than a chevy . yearly dealer service min 470.00 in my hood

Carsly

My rule of thumb is never spend more than 5% of liquid assets on a fun car -- and pay cash. Then even if the $5k repair comes you're fine. YMMV

danschy

Just an opinion of course, but 987.1's are a great deal for a weekend car, which is why I bought one a few years ago. Very reliable, but if you do have an issue it will be expensive - you would want to find a good independent shop. There is way more talk about the IMS bearing than actual failures. If you plan to track the car, then going with a 987.2 or later may be prudent. AOS and water pumps seem to be the main reliability issue with the cars. (Another option would be to look at 996 911's - they are considered the nadir of 911's, thus are pretty cheap, although they definitely have the IMS bearing issue.)

SomnoBoost

Wow! Thanks for the detailed responses! I'm reading more and more about how happy folks are with their decision to buy a Camyan. Far more than the folks who aren't happy about it.

I'm set on a Cayman, but in the event that I can't find what I'm looking for at the budget I have set, I think a Boxer is a great plan B. Except of course for the IMS issue. I've been reading about retrofitting them with a kit that solves that issue. (Solves or just lessens the risk??) But it looks like that kit installed is perhaps $2-4k maybe?
What do you guys think of that plan B? Is it realistic to think the IMS risk can be greatly reduced to a safe level?

Thanks again!

Bill Lehman

I'm retired and have owned a 2007 Base Cayman, a 2007 Cayman S, and a 2016 GT4. My wife bought a new 2009 Cayman S she still owns. I do routine maintenance. The IMS is not really an issue in Caymans, earlier Boxsters have the problem. There are other issues in the 987.1 (2006-2008) which I would avoid. I recommend a 2009 or newer.

zedcat

The IMSB issue is a low risk with the 06-08 987.1 Cayman. If it is a concern to you at all then buy a 09-12 987.2 which has the newer engine design and DFI in the S. To me that would make more sense then the cost of a retrofit in an M97 motor. Also if you are looking for a auto gearbox then the 987.2 has PDK. Whichever way you go, a PPI is a good idea. as well as usual used car due diligence like checking Carfax. Even with a clean PPI good idea to have a contingency fund in case something unexpected comes up. Best of luck in the hunt.

edit- just re-read your post on the Boxster alternative, if by that you mean a 986 Boxster, that is a much different subject. You might want to research the 986 forum in that case. My 986 has not been that reliable.

SomnoBoost

Thanks again for the great replies. I am strongly leaning on the Cayman and not the Boxster but $25k or less 2009 Caymans don't exactly grow on trees around my part of town. I can't afford to be too picky so is it a bad idea to consider a 2007-2008 model? I've been researching about the flaws with the earlier model Caymens but am still not clear on what was an issue on the earlier models that isn't after 2009. I understand any added mechanical issues is risking more money but are those early model issues "red flags" or just "if you can avoid them, great, if not it's not a deal breaker."

To get what I'm looking for there's a high chance I'll have to travel some to find a Cayman to drive home. How does that even work?? I've never driven more than an hour to look at a car. Is it normal to drive 5-6 hours just to say "Nope. Thanks but no thanks" and not buy the car?

danschy

2007-2008 Cayman is a fine choice, my only reservation would be if you plan to track the car, but even there it may be cheaper to make the couple needed changes rather than go with a 987.2 (don't track mine so have not looked into it in detail). You can usually get a pretty good idea of whether a car is worth looking at by pictures and talking with the owner, but you do have to be prepared to walk away. I found mine about two hours away. There were no close Porsche dealers to do a PPI so I just looked it over as best I could, but a PPI is money well spent.

zedcat

A key difference between 987.1 and 987.2 is the motor. The 987.1 is the M97 and 987.2 is the 9A1 family. There is no IMS in the valve train of the newer engine. Also DFI except the 2.9l. And importantly better oiling- more pickups and pumps. There were cases of oil starvation in the M97 on high G turns on race tracks. The 987.2 and 9A1 motor are better for track use. If your planned use is road driving the M97 should be fine.

SomnoBoost

Nope. Don't plan to track the car. If I ever did, I'm fine babying it when it comes to red lines. Taking a turn faster than you should is a an engine-safe rush that I'm satisfied with, even if it's not "keep your insurance rates reasonable" safe.
Currently I drive a 2012 Mazdaspeed3 which I absolutely love driving, but I'm looking to upgrade to something with some class to go with the speed. (With some mods, my Speed3 has eaten a few Mustangs and GTI's for breakfast!) When I sell the Speed3 I'll be daily driving my wife's old Volvo V50 T. Though my plans to "weekend car" the Cayman my end up being that my V50 becomes my "winter car".if the reliability is as good as I hope.
I daily drive my Mazda and have only put on 42,000 miles inn almost 6 years. So high adding miles to the odometer of a Cayman that already has high miles may not be as risky for me as it may for others.

extanker

make sure you give them a real good road test.....you maybe still be able to handle vw,s but quite a few models of mustangs will shut you down