'03 996 hunt

I've narrowed my decision down to getting a 2003 Carrera. Based upon my basic criteria: 80k miles or less, located at a Porsche dealer, Manual tranny, and $25k or less there are only a handful of examples across the country which is fine. My apologies if this stuff has been covered on other threads, but I just joined and I am learning how to navigate them and "stickies" (whatever the hell they are). Thanks in advance!!! I have 3 questions - - PPI locator - even though I'm purchasing through a dealer I still need it to get checked out. I thought that I saw on another thread that someone had an authorized Porsche shop listing. My search is nationwide some I'm trying to triangulate the dealers I select that are around places where I can get an honest opinion. - What options do I have in financing? After talking to a local dealer he told me that Porsche will finance any model/any yr for up to 5 yrs, but I want to see if there are other banks out there who would finance a 13 yr old car. So far coming up empty. - Extended warranty - this is pretty threadbare too. Companies I've found won't warranty the brand entirely or they won't do so because of the yr. Does anyone know of companies that will?

Quotes source posts: 13359424, 13359424, 13359424, 13359424

very unlikely going to happen at a dealership. Get a PPI at an indy shop that knows porsches that is relatively close to the dealer. Wells fargo. IMO you should never finance a toy, but whatevs extended warranties are rarely a good deal. If you can find one read the details VERY closely.

Why a 2003? 2002 and 2004 are basically the same car. Have you decided on C2, C4, or C4S? +1 on a thorough PPI at a good independent P-car shop.

Check credit unions, ideally one tied to your industry. #2 son financed a 2006 Cayman S a few months ago at a 1.5% rate. Why limit to a dealer vehicle?

For PPIs: http://www.pcarshops.com Not all inclusive but a place to start +1 for credit unions for financing.

Thanks for the input, guys. I've decided upon an '03 C2 in order to get the latest model year that fits my budget. I've read that the '03 has minor updates to design, upgraded engine to the 3.6L, and upgraded the operation of the roof for the Cabrio compared to the '02. Based on my research there are currently about 10 vehicles currently available that fit my criteria above across the country so I'm cool with that. I want to go through a Porsche dealership because it gives me extra piece of mind v. a small operation. If I have to get the car in CA, for example, and something happens the dealership would likely stand by it and if they don't Porsche USA will. This is how I bought my 5'er and A6 and they stepped in immediately when I had issues. In terms of financing I know everyone is different, but I like to use other people's cheap money while I keep mine in the banks getting returns and when the dust clears I am still good by 4%-5% on the spread v. sinking the cash (interest free) over several yrs. Just my philosophy. I checked with several credit unions, but they all stop financing at like the '06 model year. Anything much older and they won't do it, but I'll check Wells Fargo and keep checking around the unions. I don't think I'll do the extended warranty thing, but I just wanted the info. I am gun shy because on not having them though because 2 yrs ago both my turbos went on my 535 and those things are $8k a pop....luckily I had the warranty.

Quotes source post: 13359424

Does being at a pcar dealer make the car better somehow? If so, then why bother with a list of independent PPI locations? Your requirements make it seem more like you're trying to find a way to not buy one...

Tim, I know that it will appear I am piling on, but I have to agree with previous posts. When I was new to the Porsche world (admittedly, not that long ago) I took comfort in going through a dealer. Having purchased a second Porsche last year from an individual out of state and having monitored these threads for the last couple of years I have way more, let me repeat, way more confidence in dealing with someone on Rennlist. You have the ability to research their prior posts and get a great feel for how they take care of their car. In addition, you will typically receive service records and you are dealing with a person that does not want their integrity questioned on this forum. I would purchase in a heartbeat from many members on this forum. Totally up to you, but you will pay up at a dealership. Their is perceived peace of mind, but not sure it is really there. I would much rather deal with the person that has actually owned it, driven it and took care of it. Sellers recommend that you get a PPI which speaks to their honesty and integrity. Would recommend you look at Pentagon Federal Credit Union. www.penfed.org

haha. I've been stalking the forum for a couple weeks and I think I am that I'm getting freaked out about what could happen. I just want a PPI from someone who knows these cars to give me a good opinion aside from the dude who's trying to sell it to me. I just like the added piece of mind going to the dealer, but from what I'm hearing folks don't feel like shopping a dealer is necessary. That's good. I think I was drinking the dealer's punch too much when he recommend that I only purchase from Porsche.

I'm not a cabrio guy, so don't know about the roof. But, the only significant difference I'm aware of between the 2002 and 2003 models is the stereo system, with the 2003 switch to the MOST. It is damn near universally agreed that the 2002 model is better if you want to upgrade a 13 year old stereo system because of the MOST wiring. Pentagon Federal Credit Union for financing. https://www.penfed.org/ I've never used them but see lots of recommendations for their financing of older Porsches at great rates. On a 13 year old car, limiting yourself to Porsche dealers is really going to limit you. Frankly, I wouldn't buy from any dealership. I have purchased all five of my Porsches from private, individual sellers. IMHO, it is a much better way to go. You'll likely get a better price, but more importantly you'll get a helluva lot more history about the car and how it's been treated. Stay away from the extended warranty. Also, don't get wrapped up in the "buy it and spend $5,000 right off the bat replacing perfectly good parts because they might break sometime" mindset. That being said, if you buy a low-mileage 6-speed Mk II 996 that hasn't had the IMS bearing replaced, then I would get that done (that would put you right in the middle of the IMS bearing failure hotspot). PPI shop selection should not limit you whatsoever. Just find a car you are interested in, negotiate a deal pending a satisfactory PPI, then check around and ask on here for a recommendation for that area. I cannot imagine having trouble finding a decent shop for a PPI within 50 miles of most places.

You will be much better served to buy a car posted here or on 6speed or a least cross reference the car with posters here. Chances are someone has either seen, owned, or knows the car in question. Dealerships imo offer a false sense of security and you will severely limit the cars to pick from. Many will embark on an exhaustive search only to buy based on the car was closer than having to fly to see the one they want. . You do not have to settle, if you really have to finance you might as well get what you want as you will be paying finance charges.

Penfed was great at financing my '03 c2! Year makes no difference, its all in the mileage. No 100k + on the odo. 1.9% on a 2003 is a steal.

Quotes source post: 13359696

You will get your feelings hurt if you believe this...Only a CPO will have any kind of warranty.

...this is a plant

agree with avoiding dealers, they don't know much about 12+ yo cars they just want the car sold, and it's highly unlikely (even aPcar dealership) will do anything for you after the sale

lightstream for a loan if you have excellent credit, non secured loans great rates. I have used them and you cant beat their rates.

Quotes source post: 13359696

I gotta admit that's pretty impressive that Porsche USA stepped in when you had issues with the A6.

I just called PennFed and they seem great. They will help facilitate private seller transactions with or without the title. I'm SOLD!!! Thanks, folks!!!

haha. Audi and Porsche share the same building around me. That's how I got talking to the Porsche dudes. I was waiting for my car to be serviced and saw all of the 911s parked next to my dinky A6.

The following post is full of unsolicited advice. Please skip it if you don't want to hear some stranger's opinion... As far as financing - I really recommend you do not buy a 13-year-old "exotic*" car if you can't pay cash for it. Problems don't happen as often as they seem to on forums, since people come here when something goes wrong - but imagine this scenario: Insisting on buying from a dealership, you find a low-mileage '03; the dealer wants $30K for it, but you settle for $28K. You find a 5-year loan @ 4%, so your payments are $516 a month. A year later, you have some engine trouble that will cost $15K to fix, so you're left with two options: * Sell your roller for $5K. You still owe $22.4K, so you will still owe the bank $17K and change after selling the roller. * Borrow the $15K to rebuild. You now owe $37K on a car that's realistically worth $20K. If you are going to make payments, buy a CPO car - ideally something like the newest Cayman you can afford. You will have an AWESOME car, your payments will be about the same as they would have been on the 996, and you will have a warranty. I'm not trying to come off like a bossy/dickish know-it-all, but the fact is that there is some element of risk with ANY 13-year-old sports car; I encourage you to think long and hard about whether a 13-year-old car is the right car to finance. ----- Based on your most recent posts, it seems like you're charging ahead - if so, good luck. I hope you find an awesome car, and I hope it's supremely reliable. *The 996 is not "exotic" in the way that, say, a Spyker is exotic - but the costs for a 996 can be substantial.

Thank you, 5CHN3LL. Your note is excellent counsel for me to think about. I sat in several vehicles last week. The Panamera...was thinking about trading out of the Audi. Still a possibility. I also sat in the Cayman, and the 911. I'm 6'2" and I felt the Cayman was small for my height especially since I am going the manual route. Additionally, he said that the '09s were in fact 2" shorter than the '14 I sat in which would be really small for me and more importantly the car just didn't feel like "me". Its a great car no doubt, but wasn't my cup of tea. The 911...different story. That felt like home and I could stretch out! I wasn't expecting that.

I'm between 6'1 and 6'2 - if I sit up completely straight, I knock the crown of my noggin on the sunroof surround. You may want to hold out for one of the more rare no-sunroof options if you're going for a coupe. I didn't have any problems at all in my 986 Boxster - well, except with a helmet on.

First 2002-2004 are virtually the same. You'll spend thousands more at a Porsche dealership vs. private party. Good luck financing a 12-14 year old car. Warranties are hard to come by and really if you have an extensive PPI done I think are a waste of money. Take your time research the hell out of it read all you can about 996 issues then when you find one that meets your criteria have an extensive PPI performed. Good Luck.

Dealers down this way won't have cars that old on the lot. If they come in on trade, they will dump them to wholesalers. fwiw, I have an '03 C2 as my DD and I really enjoy it. It is a fun, fast little beast. IMO, the upgraded engineering makes it a better car than the '02. I kept it when I got the GT3 due to the facts that a) I like it, b) I have it set up the way I want (Gemballa exhaust, IMS upgrade, Recaros, etc) and c) I would buy it for the measly amount I'd get for it on the open market.

I financed a 2003 C2 last December and got 3.5% interest rate.... pretty damn reasonable for that old of a car

All great information / experiences posted thus far. Just bear in mind that a PPI could ID some things to watch out for, but there still remains much that will be hidden from inspection that could cause heartbreak within a day or two of ownership. Not being a downer, just don't think you're gonna be golden because you invested in a PPI. Now, how extensive a PPI you want could provide some reassurance, but you could go overboard. Pull all the plugs and do borescope to see about scored cylinders? Remove the drain plug to see if it has a magnetic one? If so, is there bearing material on it? Probably doesn't have a magnetic one, so the oil filter exam may have to suffice. Do you really want to pay shop prices for an oil change ($200+) in addition to the PPI costs? The coolant tank is famous for cracking, yet if it's not cracked right now, doesn't mean it won't tomorrow..... Any history on the water pump? Any service history at all? Best of luck; the more you know, the better a decision you'll make. There are many, many 996 sold without a PPI; some go years with little/no problems, and others have had serious issues. They are mechanical, after all...

I'll cut to the chase. I agree that you should get a CPO car from a dealer. It's newer and you can finance at good rates with a great warranty. Never buy a 13 yr old car from a new car dealer. Never. If you can't pay cash then don't buy a 13 yr old car. If you can pay cash, but don't want to liquidate your account then go with lightstream. It's an unsecured loan for those with near perfect credit at ridiculously low rates.

All the stuff I was gonna write about don't finance, buy on the market, and forget the warranty have already been said well by several others. Go back and read it all again. Adjust your plan accordingly.

Quotes source post: 13359969

Made my day....

My suggestion is expand search to 2002-2004, basically same car. Penfed will finance and has good rates. Can join with no military affiliation. Best deal on price will be via private party. Find someone that has documentation and is an enthusiast (i.e. Active on this forum or local PCA).

Quotes source post: 13362268

+1

Buy a Canadian car. I'll sell my 2003 c4s for 25 k usd 114,000 km Misha wing Black refinished turbo twists iPad mini stereo Nearly complete service records

Almost three years ago I was in the same situation. After a long time scouring for a 996, I stepped up and paid a premium price. My criteria was, 2002-2004 Coupe C2. Too little miles, under 25,000 causes a lot of concern for these motors, too many miles, over 60,000, raises concerns about diligence maintenance. Do not purchase a vehicle that you cannot verify service history. I wasted hundreds of dollars on PPIs on cars that looked ok, but we're not. Utilize Carfax, the car I purchased, not at a Porsche dealership, had five pages of Carfax. Detailing all scheduled maintenance at a Porsche dealership since new, right down to wipers. I spoke with service manager at that dealership in length about history. If you have the opportunity to pay $4000-$5000 more for a proven history, that is money well spent. Just my $.02

I just purchased a 2003 C2 Cab. with 58k miles from a dealership that specializes in used German/Porsche cars... I paid $30k which I think is fair based on the over all quality of the car (sport exhaust, new tires, new top, hood crest looks brand new, ect) I could not find financing under my bench (Rf+1 for fellow nerds ) so I ended up paying cash.

[QUOTE=Tim Jackson;13359696]Thanks for the input, guys. I've decided upon an '03 C2 in order to get the latest model year that fits my budget. I've read that the '03 has minor updates to design, upgraded engine to the 3.6L, and upgraded the operation of the roof for the Cabrio compared to the '02. Tim, as others may have mentioned, the 2002-2005 (yes there are 2005 996's, especially of the C4S variant) are the same basic car. The 3.6L engine was part of the 2002+ model upgrades for North America. Can't speak to the changes in cabrio top operation as I'm a coupe kind of guy. But these years are comparable/compatible in engine/driveline/features/options and should you see a great 2002 with good history and the features you want, don't rule it out. Happy hunting.

If you have great credit, Lightstream will do a personal loan. I got 2.49 @ 60 months for a 2003 with 108k on the clock. I'm making bigger payments to get it paid off early.

I will expand my search from 2002-2005. I hear it loud and clear on the service history. I'll see if I can get a subscription to Carfax and pull up the history online prior to inquiring about the car if at all possible. I just don't want to waste my time on duds especially since I am looking at traversing the lower 48 to find my ride. Just trying to rule out the lemons before I invest in anything that catches my eye.