Pricepoint Question

Hello All, Need an objective opinion here. I'm looking at a 2001 trip black Cabrio with hard top. 28K miles. Looks perfect. Two issues: was in a minor accident per carfax- guy says a deer jumped out and the only thing broken was the license plate holder. Also, per carfax, seems like service was done at a Honda dealership. Just maintenence. Seller seems to be holing fast on a $27.5K price. Assuming a PPI checks out, what do you think of this pricepoint? Thanks

I'd say Honda service dept is a mark against, ask to see all the service history. See what the PPI turns up.

Quotes source post: 8839610

Ditto that comment about Honda service. Sincerely, Macster.

Quotes source post: 8839580

Something's a bit fishy. No reason why an accident so minor as to result in just a broken license plate holder should end up on CarFax. I hit some road debris in my Boxster and paid for the work out of my pocket which means I think it doesn't show up on CarFax and the repairs ran my over $1500. (BTW, when (if) I sell this car I have the pics and repair receipts (from a Wichita KS Porsche dealership) to show the buyer. I didn't have this repair done at my expense to hide the fact the car suffered a minor accident.) Then more recently (July 09) I hit a (mule) deer with my other car going about 50mph and the damage was $25K. Front bumper cover. Passenger side headlight. Passenger side front fender. Passenger side front tire. Front wheel (Wheel refinisher ruined the wheel.) A/C condensor. Radiator. Brackets. Radiator fan motor. Vapor recovery system. Lots of plastic underbody panels. Fender well liner and so on. Then there was the painting to paint the factory new panels and blend the paint of the new panels with that of the original. Car restored to its pre-collision condition but it cost some money to fix. License plate holder indeed... Fishy. Be on your toes! Sincerely, Macster.

Thanks Macster, I imagine a good PPI would uncover anything significant and be able to identify any major body work ???

Agree. Always be on your toes and do your homework. But at some point buying any used car is a leap of faith. I have essentially the same car -- 2002 and bought it with 43,000 miles and paid that exact amount, $27,500. Seems like a fair price -- but there are so many condition variables and features that impact value a few thousand either way that it's impossible to be dead on without seeing it in person. But it's in the ballpark for sure. The owner had very little in terms of records. Did an indy PPI and took it to the local Porsche dealer for another check -- it has been a gem thus far. I'm not hung up on the Honda issue. There are a lot of places where there isn't a Porsche dealership or good Indy shop within hours. What are you gonna do? Others opinions may vary, but in the vast majority of cases I'd rather have the basic maintenance work done by a Honda mechanic than the owner changing a belt watching a YouTube tutorial. Pop me a PM and I'll share a few of the things I picked up during my Cabrio shopping.

Quotes source post: 8839786

Well, a good PPI should uncover those things and more. Hard to know where to put this but I'll put it here: Remember the best PPI can't guarantee the car remains problem free forever. Things happen. Water pumps or fuel pumps and the like don't take years to go bad showing signs/giving hints. They almost always work fine up until the day they don't. What you want a PPI to do is to as high a confidence level as possible confirm the car is basically sound, in acceptable condition, free of existing problems, that the car has been serviced/worked on by a professional, and is intact with all the pieces there, and pieces aren't bent or show signs of poor accident repair. That's alot to ask of a PPI. So, you need to be careful. You should if at all possible develop into a pretty good PPI'er yourself. This cuts down on wasting your time and money to get a car PPI'd that with better inspection on your part you could have eliminated. Also, after you get the PPI report back you want to compare what was found (and what was looked at) with what you looked at and found to be sure the PPI at least found the same things you found and in fact found more things, looked at things you overlooked or just didn't know about (and which you then add to *your* PPI list for *next* time.) This is how you sanity check the PPI. If you believe the PPI was not up to your standards then you walk away from the car until you can have it PPI'd by well someone that does a better job. The PPI costs you maybe $200/$300. But you are using what this turns up or doesn't turn up to spend a heck of a lot of money. If you get a PPI that because it failed to turn up something seriously wrong with the car, causes you to make the wrong decision and buy the car, you can be out way more than $200/$300. Remember, there are two times you can walk away from a bad car. 1) Before you buy it because your inspection or a PPI's inspection found something that makes walking away from the car the only reasonable action. 2) Or after you buy the car and you find something you should have found before you bought the car. I don't know about you but I lean towards #1. Shopping for your next (or 1st) Porsche is the most fun you can short of owning one and driving your very own car. The process should be fun and while intense never scary. There is always another car. Have fun and good luck. Sincerely, Macster.

Agree here too Honda to service car? Get records, PPI and accident report and pics of damage? You want to be able to have the accident history paperwork for resale purposes.

I hope prices are coming back, but that sounds high to me. I bet he bought it to flip. Have you seen the title? Does it have his name on it?

Do your diligence, but keep your eye out for other cars as well. There are a load of 996s out there. Don't be afraid to buy from afar - even sight unseen - if you get enough pics and trust the PPI shop. In the end, go with your gut. (but only if your gut has a history of good decisions, lol). As for price, seems a couple grand high for the issues. If he won't drop it, just walk away. -td

Well....I saw the car. Front bumper hairline crack. Rear speaker covers cracked (both of them) after reported golf bag incident ! Otherwise, car immaculate. Awaiting PPI next week. soft and hard tops perfect. IMS / RMS not fixed................Thinking I'll offer 24.5K Seem reasonable?

Also, shout-out to zurichgnome for much good advice. Thanks!

Did you check the engine code? If it looks like M96/04 AT 66******* you may not be a candidate for low cost IMSB replacement--if that matters to you.

Quotes source post: 8840907

That is good advice.

Thanks, J beede. Haven't checked the engine code? Would that be done at a PPI?

Get your PPI and have it verified that there was no other body damage done. Ask seller for all the manuals and service records. It's not necessarily a bad thing if a Honda dealer did a service. Most anyone can change the oil on these cars, check the fluids, etc. Don't talk price with the seller until you are ready to buy and all your inspections have been done. Also discuss what you expect to be included in the way of keys, manuals, covers, tool kit, transferable warrantys, etc. If you are pleased with the results of the PPI and you really like the car tell the seller you are ready to buy right now and you can write him a check or give him a 10% earnest money deposit. Wait for his reaction, then try offering the seller slightly less, like $26k. If the seller balks, tell him you'd like to sleep on it and think it thru to make sure you don't have any reservations about buying. Make sure the seller has your phone number. Follow your instincts. I think your price point is OK. Remember you're buying a nice car, one that triggers your emotions. If you like it and you're ok with the price that's all that matters. Many people put too much emphasis on price . It's only one factor in the car purchasing equasion, and not necessarily the most important. I sold my '99 Cab C2 with 61k miles about 14 months ago for $30k. It was near mint in most every respect, just serviced, brand new tires, all books, etc. It was a very special and highly optioned car with a MSRP of over $95k. I did a seats out amazing detail to the interior, and an extremely comprehensive motor, frunk, body and wheel detail. The car looked and drove truly amazing. It's funny how first impressions stick with us. I saw the guy that bought my car a couple of weeks ago and he loves it and was mentioning what a graet deal he thought he got.

Very helpful, Nick. Did the car you sold have the IMS / RMS fixes? I'm trying to determine how to figure that expense into the purchase price. Thanks