2003 Targa Is It A Good Buy?

Hello, I am new member and I am thinking about buying a Meridian Silver 2003 Targa. It's a 2 owner lower mileage (17K mi) car in like new condition. It is all stock. This car is owned by an older gentleman for last 7 years. He has all service records done by the dealer. He is asking $34.9K. It doesn't have many options but it looks and drives like new. Car does have heated seats. Is the asking price reasonable. It seems to me it's a good price. What do you think I should offer? I was very supprised how quick the car is. It pulls in 2nd gear like a race car. I originaly wanted a 996 Turbo but this car is fast enough for me. It's a lot faster than my BMW 330Ci. Roof works great and I didn't hear any rattles even though we drove on some rough country roads. Your input is appriciated. Doug

Meridian Metallic is a great color and somewhat rare so that is a plus. Some people have issues with the Targa top but I personally would not let that be a deal breaker if it was well maintained. The car appears to have good records which is important. Very low mileage like this can sometimes be an issue because the car was not driving regularly. Porsche's like to be driven so to me the main thing left to do is get a PPI from a good local Porsche mechanic to make sure there are no unknown issues. If that comes out clean then his 34K asking price is a pretty good starting point, but I would personally try to get this car for around 31-32K. Good luck.

The new Excellence Porsche Buyers Guide gives a range of $23000-$3000 for '03 Targa. Check prices on kbb.com and NADA also-those sites factor in the mileage.

hi, my $0.02. if you really like it. if it passes ppi. if you feel it is worth it. if you will look back at it when you park it. get it. just remember any new (used) car needs proper maintenance.

Thanks for the reply's. I am going to go see the car again tomorrow. I will make an offer contingent on the PPI passing. See what happens. I used to have a pristine 1988 Porsche 944s long time ago so I am eager to get another Porsche. I am big BMW fan but can't beat a Porsche for pure sports car tradition and feel.

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If using Excellence Magazine for market value note that they footnote to add 10% for low mileage.

He should take $30K. Doesn't hurt to ask.

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For a 17k 2003 Targa? No. The problem of course with paying top dollar for a low mile car is that for it to hold it's value, you have to keep the miles low. There are also some possible concerns, overblown to be sure, about the relative susceptibility of low mileage M96 motors to problems like RMS and IMS failures. Porsches need to be exercised to stay in shape. This car may not have been ridden hard enough. And don't assume that low miles means less maintenance cost. With 10 years on the clock, the car probably needs tires and a major service. Make sure you figure that in to your negotiation. Unless you really want a low mileage Targa and are willing to spend the $$ for the privilege, there are probably better cars out there for you.

I have looked on Autotrader, Cars.com, Ebay, and craigslist all over the country. Other similar Targa's with more miles had similar or higher asking price. KBB is always high on car estimates and NADA and Edmunds seem to be always low. I don't know if this car will go for $30K. Seller kind of hinted that dealer offered him $32.5K as a trade in. He is buying a new targa.

My tuppence apenee worth for what its worth is first to find out every little thing on how the car is supposed to work. Has the electricals been interfered with? Read up on the manual for the targa and you will find out what to expect. My experience is the PPI only tells you what they inspect and they can overlook many little things. Better to pay a little 'over the odds' for a perfect car than 'think you are getting a great deal' by paying a lower than usual price when in fact you could be getting a lemon that has been interfered with. From your posting it seems like this is a clean stock car in every way so I would say, Go for it. You might want to consider a 3 year 30000 miles extended warranty when you buy the car so try to knock him down that amount and tell him the reason why. Good luck with the deal.

Hurdi makes great points. First do the due diligence - Any Porsche dealer can run the VIN and give you the history of warranty repairs - not service, but warranty work. And think about what you want out of the car, if it is to drive it and enjoy it and the car checks out, don't be afraid to pay for it. With the low miles you can get a good 3rd party warranty for a reasonable amount, just make sure of the warranty details, and again, don't be afraid to pay for a good one. Then buy, drive, and enjoy. You can pay now or keep reading the posts here and realize that you can pay later, later usually means paying much more though. If you are considering the car because you think it is an investment, totally different story and probably a really bad idea. It sounds so far as you might have found a car that has been well cared for and appreciated by the owner - that goes a long way in my opinion.

The car has low mileage and you will be able to get a decent price on extended warranty. I wonder if someone can chime in, as to if the extended warranty can cover the Targa top repair. Still I would buy one just in case, they are much pricier when the mileage gets higher. We have heard some high repair price on the targa top on this forum. I would assume that if you live in an area with rough pavement the top will suffer more. I think the targa is beautiful and the driving feel is fantastic even with top closed go for it

I went to see the car again today. I saw the service records. I offered $32K. Owner wants to wait to see if he can get better offer. He listed it on Autotrader. Here is the link. http://www.autotrader.com/cars-for-s...29530311&Log=0

I looked for a targa for awhile and nothing this nice was to be found a few months ago. I found a coupe in similar condition / miles and paid a premium for an impeccable example. I wouldn't let a few grand get in the way of making a deal on such a nice targa.

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No way dealer offered $32,500. NO WAY. He'll call you within a few days and accept $32k. Don't go up. At least I wouldn't. It's not like there are 50 people calling him to buy it. Don't get anxious... unless you think this is the best car of all time and you can't live without it. Plus, I always ignored the low mileage warnings but I feel different after having IMS failure... so might want one with higher mileage.

That is as lightly optioned a Targa as was perhaps ever built... One of the lowest optioned 996s i have ever seen. The list of things it does not have is amazing, starting with 18" wheels. The only option worth mentioning is Litronics. Here is the list based on the option codes: Code Option Description 288 Headlight washer 288 996: Light washers 446 996: Colored Wheel Crests 446 Parts for type "Targa" belonging to stipulated assembly 476 Brake pad with abrasive pad 476 996: Traction control 490 Hi-Fi sound system 601 Litronic Headlights C02 Equipped with catalytic converter And the dude's writeup is wrong. 2002 was the first year for the 3.6 motor. Seriously, unless you just must have a Targa with these very low miles, find another car.

$30-$32k is fair .. But I would also factor in cost of Ims replacement with this few miles .., $2500 of insurance versus $20k motor ...

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i totally disagree about meridian metallic being a rare sought after color - several 996's in meridian metallic sit for sale forever - i have seen this over and over the past couple of years - nobody really wants a champagne color or green on a 996 porsche - when they finally sell they sell for way below market value

Hey Groov whats up. Concerning Meridian Metallic. This color is not Champagne. It is a darker metallic grey and does change slightly depending on the light. Every time I am at an event people go out of their way to complilment this color. They seem somewhat rare at least in this area. Although I believe you about the cars you have seen that would not sell. the few I have seen for sale have sold quickly. Maybe the ones you saw were a different year and looked more champagne but I am not sure. Anyway I guess it comes down to personal choices and what you like the best. Take a look at the color in the link that the original poster put up showing the targa in question in an earlier post in this thread. Maybe we can get tuorbillon to comment on how the color looks to him.

I'm sure liking my '02 Meridian Metallic Targa. Just sayin...

My wife thinks the color is perfect for her but not for me. She prefers that I would go for 996tt or s4 Porsche but I don't know if I can afford those.

Sounds like you got a great wife.

I think the price is too high, but then I think all Porsches are overpriced, except when I'm selling mine and then it seems that I have to give it away. Maybe I'm not patient enough? Like someone else said, this guy is not getting 50 phone calls a day on the car. Maybe two a month. It's ten years old! It's an old car. It's going to need some maintenance, fluids, maybe some targa track greasing, who knows? And I'll bet you it's got the original tires, and they are as hard as a rock. That's a good $2000 right there, maybe more depending on what you buy. That said, it's stock, it's got low miles, it's been well maintained. Yes, I've been no help at all. You're welcome.

I would agree with your wife...TT or 4S. As said above that car has next to no options, you are lucky it has wheels. Keep looking