The allure of a cheap 986 as a project

[ricof]

As the happy owner of a 2005 987 of nearly 8 years, I recently find myself looking at 'cheap' 986's. That and watching various Youtube rebuild/salvage/restoration videos, coupled with the yearning for a bit of a project* has really made me want a bargain 986.

I know you have to go into these things with your eyes open and I am wondering if any/many on here have done that? For a reference point, i'm looking at cars around the £2-4k mark, manual and ideally an interesting colour.

 

 

*excitable amateur with more ambition than skill

[Daboy3000]

It's a fallacy. Unless your only goal is to have something to fix up, it will end up costing you twice as much as just buying a good one if not more.  I only bought a cheap one because at the time I didn't have enough income to save for a good one and thought I would just fix one up, doing work when I could afford too.

I bought a 1996 2.5 for £1500 running but with no MOT, I have now spent over £3000 replacing parts, only a small percentage of that is labour as I have done most of it myself.  I still need to spend about a grand on the engine to get it to where I want it to be.  The car needs shocks and springs, new cats and probably a manifold that will need drilling out,  bodywork and a respray. No doubt my brake calipers bolts are stuck too.  I also have a few electrical gremlins that will no doubt be locking modules and or the module under the seat.  I'm guessing I will have spent more than £10k (if i'm lucky) to get it to where I am happy and that's before any more annual maintenance and anything actually going wrong with it.

Not sure a 2.5 with no history and 135k miles is going to be worth anywhere near that for some considerable time. I currently have it insured for £4k but think I would be lucky to sell it for more than £3k.

If I could rewind time I would have waited and saved hard and bought a good one for £6k+

[wasz]

Mine had new suspension, new brakes, few engine bits, rot welded up and 10 months MOT for under £3k. I'm not going to make it mint just smarten it up.

Issue you have is an early car has a ceiling price, say £4k for a minter with a few miles on it. You'd have to buy one needing work for £1k if you plan to replace loads of stuff to make it financially viable.

I did it with my previous 996, bought cheap fitting all new suspension clutch and flywheel and basically had a new car for the price of an average one. Made all my money back on sale (exc my labour).

Boxsters problem is there is not so much money in them and the parts are the same (price) as a 996

My advice is to find an £8k 996 and do the work, something interesting like an early cable throttle car.

Or a Boxster for £1k - they are out there - look for one with a flooded ACU and get a set of computers for £350 or the chip swapped into another ACU.

The viability of it is all in the buying. But then perhaps you just enjoy doing it and learning, in which case the financials don't really matter. 3/4 of the fun for me is weirdly masochistic as I enjoy fixing things.

 

Edited October 5, 2023 by wasz

[Menoporsche]

You do it for the fun / knowledge/ satisfaction, not for the money. 

[½cwt]

To give you an idea back in 2018 I bought a 2000 986S with 89k miles on it.  Most of a service history which covered the previous 7 or 8 years plus a stamped up service book.  I needed some work so I got it for £4850 back then.  Since then I've spent the following on parts only as I've done the work myself on essential work:

Air condensers & desiccator plus recharge £200

Gearbox reversing light switch & 4 CV Boots £70

Re-spray front bumper due to split paint £200

New wheel arch lips and s/s screws for these and bumper fittings £75

Suspension 2 new springs, all arms, top mounts, drop links and Koni Special Active dampers £1350

New rear window vinyl £235

Salvage window regulator £35

Salvage driver's seat £230 (base springs and a side bolster were failing)

Rear undertray section (missing when bought) and fittings £200

New ignition switch £40

New battery £100

New cunifer brake lines, flexi hoses £165

TOTAL around £2700

So if what you buy is a bit ropey except to fork out at least this much and does not include services, a gearbox oil change, new plugs, plug tube O-rings and coil packs, replacement tyres and front disks and pads.  Add another £1k for clutch, flywheel & RMS.

 

In addition I've chosen to do the following:

New head unit £100 (sold original Becker unit and CD changer to off set cost)

As tray delete & second shelf for centre console £90

Replacement dash speakers and rear speakers to storage box £100

Retro fit cruise control £200 (sold original 3 stalk switches too off set cost)

3 flash indicator relay £45

New front tyres (cracking rubber) and refurb 17" rims £550

18" wheels £600 (plus tyres at about £600)

Replace various very rusty parts £250

Calliper refurb and paint with all new seals and nipples plus 3 new pistons and PORSCHE decals £750

Plus I've just started retro fitting door speakers which is running at about £230

And £360 for new key electronics after I put one key through the wash.

Another £4k +/- . 

 

It is scary when you write it down as it is certainly not an £11k car!!!!!  As economics they don't stack up!  For fun and as a hobby it does.

Edited October 5, 2023 by ½cwt

[nelmo]

33 minutes ago, Menoporsche said:

You do it for the fun / knowledge/ satisfaction, not for the money. 

Spot on - the only way to make a small fortune with cars is to start with a large fortune.

I love Wheeler Dealers but they never used to add labour in when doing their costs - they would never have made a profit on any of the cars they flipped if they had.

If you want to get your hands dirty, that's a perfectly good reason but you have to ignore the money side of it.

Personally, I had the same itch back in 2015, so I built a kit car - huge amount of fun and because you are just building with newish parts, there is no fighting with rusty old bolts all the time (well, if you do it the way I did). Details in my blog: https://zerolifebuild.blogspot.com/2015/03/in-beginning.html

 

[Daboy3000]

2 hours ago, Menoporsche said:

You do it for the fun / knowledge/ satisfaction, not for the money. 

I don't, bloody hate it. 

[Mattman42]

2 hours ago, Menoporsche said:

You do it for the fun / knowledge/ satisfaction, 

CFA 😜

[TV8]

I prefer the 986 to the 987, but its fair to say my opinions are rarely in sync on here. On the day I bought it, I looked at and went out in my absolutely perfect spec 3.4 987.2 including the rare switchable exhaust but still bought the 986. I had a feeling that would be the case and reversed the viewings to see the 987 first.

If you want one, buy one! You can always sell it.

[Menoporsche]

 

1 hour ago, Daboy3000 said:

I don't, bloody hate it. 

 

4 hours ago, Menoporsche said:

You do it for our fun / knowledge/ satisfaction. 

CFA…

[Paul P]

I want to do this but I want a 987.  Nothing against the 986 but I feel more “in touch” with the 987.  
 

I like electrics and mechanical.  Less able with paint and bodywork so when it comes to it (if it happens) a “pretty but sh*tty” 987 will be the target.  
 

it will be a project and a hobby and as such I will factor cost against other expensive hobbies (golf, boats, guitars, class a drugs, those who would “love me long time” etc.).  If at some point it becomes “eat or do something to the car” then I have miscalculated the fun vs £ equation.  
 

that all said I might do the same for an unloved 996 tip if someone needed it gone.  
 

point for me is it wouldn’t be the car I drive at weekends (until it was done) and I suspect it would be the doing not the having that gave me most pleasure.  

[Mattman42]

1 hour ago, Paul P said:

I want to do this but I want a 987.  Nothing against the 986 but I feel more “in touch” with the 987.  
 

I like electrics and mechanical.  Less able with paint and bodywork so when it comes to it (if it happens) a “pretty but sh*tty” 987 will be the target.  
 

it will be a project and a hobby and as such I will factor cost against other expensive hobbies (golf, boats, guitars, class a drugs, those who would “love me long time” etc.).  If at some point it becomes “eat or do something to the car” then I have miscalculated the fun vs £ equation.  
 

that all said I might do the same for an unloved 996 tip if someone needed it gone.  
 

point for me is it wouldn’t be the car I drive at weekends (until it was done) and I suspect it would be the doing not the having that gave me most pleasure.  

Its a great plan if you have the space to store it while its all in parts - and that space is dry and warm so you can fiddle during the winter.

I find that not having a garage really limits what you can do and when 

[wasz]

Theres loads of boxsters go through copart very cheap.

Lots of unrecorded ones, mot failures / laid up cars / whatever you can check that easily.

I'd pick one of those up. I was planning to but mine came up.

The key to "making money" or "not losing money" is to buy it cheap in the first place.

[Paul P]

12 minutes ago, Mattman42 said:

Its a great plan if you have the space to store it while its all in parts - and that space is dry and warm so you can fiddle during the winter.

I find that not having a garage really limits what you can do and when 

I have a double garage.  I reckon with some work ( two x single door into 1 x double roller ) and an investment in a mid rise mobile scissor lift, I could probably have enough space to store and work on a car and still garage my regular toy. 
 

time is the challenge and that’s. not  always easy to fix but it’s a target.  I had a great Sunday morning a few weeks ago doing discs and pads on daughter’s car.  Reminded me how much I enjoy the mechanical stuff. 

[PaulZR]

Occasional poster here, my experience is very similar to 1/2CWT's.

I bought a '98 2.5 for £4,500 in 2019. It had a service stamp for every year along with plenty of invoices to support.

I've probably spent about £1,500 a year on average since then, including some big jobs - brake lines being the most costly - and innumerable smaller jobs, many of which I did myself. Aside from the AOS letting go in a terrifying cloud of smoke not long after I bought it, it's been faultlessly reliable and great fun. Did a Nurburgring trip last year with zero complaints.

I could easily spend another £5k on it tomorrow getting the rest of the bits on my wishlist sorted (suspension refresh being the main one). I will never get this money back, but that's not the point (for me, at least).

As has been said 1,000 times, these can't be done on the cheap, even if you do everything yourself. Once you get on top of the MOT advisory type stuff, however, you can keep on top of the rest with some good proactive maintenance.

[Everywhen]

I did just what you are thinking about in February.

I bought a MY 2000 986 2.7 in very basic spec with 74k miles and just under 12months MOT (although how it got this I have no idea!)

Work carried out so far:

New clutch
EPS IMS solution
RMS
Engine oil and filter
Gearbox oil
AOS
Air filter
Cabin filter
All suspension arms
New dampers (Koni)
Front strut mounts and bearings
Drop links
Exhaust
O2 sensors
Coil packs and plugs
Handbrake cables
Handbrake shoes
Discs and pads all round
Brake line - ABS pump to junction
Swapped horrible Alcantara seats for leather ones
Swapped 4 spoke steering wheel for 3 spoke - horn was too sensitive anyway.
Orange side indicators re-fitted, clear looked wrong with the fried egg headlights
Wheels refurbished
New tyres
Blaupunkt retro stereo

Still to do in the Spring:

Brake caliper refurb
Braided brake lines
Paint correction

I did most of the work myself, Clutch, RMS and IMS were done at my Indy as I can’t get the car high enough on my drive.

I’ve spent around £4k on it so far, And if you include the purchase price of the car I could have bought a newer one for the same or less, but that would still need most, if not all, of the work I’ve done to it anyway. And my car now drives really well, the difference from when I bought it is dramatic.

 

 

[Menoporsche]

23 minutes ago, PaulZR said:

Occasional poster here

Joined 2017, 8th post, you're not kidding!

Glad you're out driving it more than talking, that's the way it should be  

[wasz]

...

Edited October 5, 2023 by wasz

[DaveyP]

I think this is about seeing it as a hobby rather than an investment.

I've had a few cracking cars in my short but colourful life. A fair few of which are now seen as proper classics, but only ever "made money" on two... both times by accident rather than design!

I say don't try to justify the money you'll spend by hoping it'll increase the car's value, but look at it as money not spent on a golf club/gym membership, fishing permit, in the pub, etc...

Then it makes sense... ish...

And man maths tells us that if Boxsters are ever going to be full on classics, it's the early 986s that'll be the sought after ones.

...

...

Discuss! 😉

I say go for it.

[technics100]

11 hours ago, ½cwt said:

To give you an idea back in 2018 I bought a 2000 986S with 89k miles on it.  Most of a service history which covered the previous 7 or 8 years plus a stamped up service book.  I needed some work so I got it for £4850 back then.  Since then I've spent the following on parts only as I've done the work myself on essential work:

Air condensers & desiccator plus recharge £200

Gearbox reversing light switch & 4 CV Boots £70

Re-spray front bumper due to split paint £200

New wheel arch lips and s/s screws for these and bumper fittings £75

Suspension 2 new springs, all arms, top mounts, drop links and Koni Special Active dampers £1350

New rear window vinyl £235

Salvage window regulator £35

Salvage driver's seat £230 (base springs and a side bolster were failing)

Rear undertray section (missing when bought) and fittings £200

New ignition switch £40

New battery £100

New cunifer brake lines, flexi hoses £165

TOTAL around £2700

So if what you buy is a bit ropey except to fork out at least this much and does not include services, a gearbox oil change, new plugs, plug tube O-rings and coil packs, replacement tyres and front disks and pads.  Add another £1k for clutch, flywheel & RMS.

 

In addition I've chosen to do the following:

New head unit £100 (sold original Becker unit and CD changer to off set cost)

As tray delete & second shelf for centre console £90

Replacement dash speakers and rear speakers to storage box £100

Retro fit cruise control £200 (sold original 3 stalk switches too off set cost)

3 flash indicator relay £45

New front tyres (cracking rubber) and refurb 17" rims £550

18" wheels £600 (plus tyres at about £600)

Replace various very rusty parts £250

Calliper refurb and paint with all new seals and nipples plus 3 new pistons and PORSCHE decals £750

Plus I've just started retro fitting door speakers which is running at about £230

And £360 for new key electronics after I put one key through the wash.

Another £4k +/- . 

 

It is scary when you write it down as it is certainly not an £11k car!!!!!  As economics they don't stack up!  For fun and as a hobby it does.

That's an impressive list of work and money.. Can I ask where you got the 3 blink relay and is there a fitting guide?? 

[½cwt]

32 minutes ago, technics100 said:

That's an impressive list of work and money.. Can I ask where you got the 3 blink relay and is there a fitting guide?? 

All the details are in this How To:

[½cwt]

13 hours ago, Everywhen said:

I did just what you are thinking about in February.

I bought a MY 2000 986 2.7 in very basic spec with 74k miles and just under 12months MOT (although how it got this I have no idea!)

Work carried out so far:

New clutch
EPS IMS solution
RMS
Engine oil and filter
Gearbox oil
AOS
Air filter
Cabin filter
All suspension arms
New dampers (Koni)
Front strut mounts and bearings
Drop links
Exhaust
O2 sensors
Coil packs and plugs
Handbrake cables
Handbrake shoes
Discs and pads all round
Brake line - ABS pump to junction
Swapped horrible Alcantara seats for leather ones
Swapped 4 spoke steering wheel for 3 spoke - horn was too sensitive anyway.
Orange side indicators re-fitted, clear looked wrong with the fried egg headlights
Wheels refurbished
New tyres
Blaupunkt retro stereo

Still to do in the Spring:

Brake caliper refurb
Braided brake lines
Paint correction

I did most of the work myself, Clutch, RMS and IMS were done at my Indy as I can’t get the car high enough on my drive.

I’ve spent around £4k on it so far, And if you include the purchase price of the car I could have bought a newer one for the same or less, but that would still need most, if not all, of the work I’ve done to it anyway. And my car now drives really well, the difference from when I bought it is dramatic.

 

 

Just remembered £100 for an AOS, £165 for an alternator and £35 for a salvage MAF (still running 4 years later)....

Christ, The Better ½ better not read this topic 😱

Edited October 6, 2023 by ½cwt

[Happy Days]

 

[technics100]

13 hours ago, ½cwt said:

All the details are in this How To:

Thanks, will add it to the to do list

[½cwt]

14 hours ago, ½cwt said:

Just remembered £100 for an AOS, £165 for an alternator and £35 for a salvage MAF (still running 4 years later)....

Christ, The Better ½ better not read this topic 😱

Oh, yes, high and low tone horns £80....