I’ve just looked at a Porsche 964 for sale for just £8500. That’s cheap for a 964 or, indeed, for any Porsche 911. There has to be a reason, of course, and I soon found out why.
The Porsche had covered some 150,000 miles and the engine was leaking oil faster than the Exxon Valdez, there were some small patches of corrosion here and there on the body, and the Targa roof was damaged in places.
Most people would recommend walking away from such a car but, in this case, it was priced accordingly. I like super-cheap Porsche 911s and, if you go into a deal with your eyes, wide open, you can come away with a Porsche that’s going to be very entertaining and which you’re not going to worry about scratching.
This example turned out to be rather good in some ways. It drove well, the engine had plenty of power, the bodywork was actually not that bad, and the interior too was solid.
The trick with a Porsche like this is not to look upon it as a restoration project – it’s not worth pouring money into it. Best to just get on and drive it and enjoy it – just make sure you keep the oil topped up and don’t park it on your parent’s newly block-paved driveway.
You could keep it on the road for not a lot of money and, if it does eventually give up the ghost, well, you’d have lost less money than a new 911 owner losing in depreciation over a year. A top-end engine rebuild would sort out the oil leaks for, say, £3000 and the bodywork could be sorted for under £1000. Then you’d probably still get your money back when it came to sell, especially the way Porsche 964 prices are going.