Porsche values, perhaps more so than for more mundane cars, are influenced by mileage. Some buyers are obsessed with mileage, and will gladly pay a premium for a super-low mileage Porsche, as they believe that this will give them a better car.
Now, there is certainly some truth in this, as there will have been less wear and tear on the car and, in theory, it will be in closer to ‘showroom’ condition. Conversely, though, if you’re looking at a 20-year-old car that’s done 2000 miles, that means it’s been sitting around unused for most of its life and cars do like to be driven and, crucially, serviced and maintained.
I remember once inspecting a 964 Turbo at auction. It had been sitting in storage for a few years after being seized in a bankruptcy case. One look under the engine was enough to scare me off – it was leaking oil from every seal, including the main crankcase join. That meant it needed a full engine rebuild. Lack of use had meant that various seals had dried up and perished. There was a fair chance the brakes needed a full overhaul, too. The Porsche needed big money spending on it. A couple of weeks later, I saw it on a dealers’ forecourt but that’s another story for another day…
Because of this attraction to low-mileage Porsches, higher-mileage ones sell for less money, and that’s where a canny buyer can do well. I always consider mileage as one factor within the bigger picture – servicing, condition, history should all be taken into account.
Putting it simply, a high-mileage Porsche that’s been properly looked after, can sometimes be a better buy than a low-mileage one that’s been neglected. It will certainly be less expensive.
And that brings me neatly to this 1993 Porsche 964 Turbo that I have for sale. With over 100,000 miles on the ticker, it’s inevitably worth less than a 40,000-mile example but, crucially, its engine has had a top-end rebuild just a few miles ago, plus various other work. To drive, it’s an absolute joy and, at under £30,000 it’s a very affordable way into 964 Turbo ownership, because Turbo prices have been increasing, making lower-mileage examples very expensive indeed.