Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I will be buying a 2006 or 2007 Porsche Cayman S in the next couple of months. The price range of price that I will be willing to pay for this car is $27,000 to $35,000, preferably with an included warranty. I will do a down payment of $5,000. I am still in the "doing research" phase of the purchase and I am still trying to get more info on this to make an informed purchase. Here are some of the questions I have that maybe some of could advice me on....
1. I don't have a loan yet, is it better to get the loan from the dealer ship I'll buy it from or to have a pre-existing loan? A pre existing loan could give me more bargaining power maybe...?
2. If I buy from a private owner and the need arises to get a per-approved loan, what are some good places to get loans on used vehicles?
3. Warranty. If I was to buy it from a private owner with an expired warranty, what is a good reputable and reliable company I can get the warranty from? I hear there is a lot of warranty scamming companies, so I rather just stick to the ones that are nationally recognized.
I have other questions about the actual car for people that previously owned a Porsche Cayman S or Boxter S.
1. What particular things should I be looking for in the cars I test drive? What are some of the common mechanical or aesthetic problems that these cars usually have? I hear a common one is the rattling back hatch and the dense white smoke coming out of the exhaust.
2. What would a good price be for a 2006-2007 Cayman S? I will be focusing in cars with a millage below 100K and over 50K. Reason being that cars under 50K are extremely over priced and cars with over 100k are harder set up with a warranty. Views on this?
3. Have you seen any good deals with these cars around your area?
I like to get auto loans through my credit union. I find they have pretty decent rates and will sometimes knock off a percent if you use your account with them to pay via auto-pay.
I don't know specifically the issues with the Boxsters or Caymen but everything I've ever heard about owning a Porsche leads to: have a good amount of money for maintenance and/or repairs. When things break, they tend to be expensive. And they will break.
I would look at different Porsche owners forums and find out about issues from first hand accounts. Look there for websites the enthusiasts use to order quality or hard to find parts. They may also have a regional forum that can direct you to local mechanics for a PPI or to perform repairs for you. Also perhaps look at reviews on Edmunds.
If you are putting only $5,000 down on a car that values at $27,000 to $35,000 and it's already five/six model years old, maybe a higher-end car isn't for you?
I second the Credit Union for loans on used vehicles. The rates are much more affordable than going through a bank, dealer or online lender. And although Porsche's are known to be high-maintenance vehicles with expensive parts, Consumer Reports has consistently rated the Boxster as one of its most reliable cars for the past several yrs.
Unless you're buying certified pre-owned and adding on an manufacturer's extended warranty, I don't think a third-party warranty is a good idea. I've heard lots of stories of claims being denied. Definitely, head over to Rennlist and ask other Porsche owners what their long-term experiences have been.
I would look at different Porsche owners forums and find out about issues from first hand accounts. Look there for websites the enthusiasts use to order quality or hard to find parts. They may also have a regional forum that can direct you to local mechanics for a PPI or to perform repairs for you. Also perhaps look at reviews on Edmunds.
This is very good advice. There are some great car/model specific forums out there where you can pretty much get anything answered from people who really know what they are talking about.
If you are putting only $5,000 down on a car that values at $27,000 to $35,000 and it's already five/six model years old, maybe a higher-end car isn't for you?
Thanks for the advice. I will be putting down 5K and I am not trying to discuss what car I can or cant afford. Tnx.
1. Do both and get the lowest rate possible. Get the best you can on your own, and then also ask the dealer to shop loans. Most dealers have a network of 100 different lenders that they shop for the best rate. The dealer might ask "How much do you want to pay per month?" Don't fall for that trap. Tell him the INTEREST RATE you want.
2. like others said, a credit union.
3. aftermarket warranties aren't worth it (IMO)
I don't know much about Cayman but I know that they aren't exactly "Boxsters with a hard top". They are tuned completely different than the Boxster so they cost much more. Your best way to gauge market price is by searching Craigslist and taking average prices listed between years and mileage.
For specific questions, check out Rennlist.com. Great forum.
Good luck! Porsche quality is hard to beat. (Miss my 944...still dreaming of my 911)
Last edited by dude_reino; 08-18-2011 at 04:07 PM..
I would also suggest going through a credit union. They are usually your best bet and easiest to deal with. As far as owning a Porsche, it isn't as expensive as you may think. Stay away from the dealership for repairs/maintenance unless the car is under warranty. If you can find someone in your area that does a good job with foreign cars (especially Porsche) then go to them. Overall, Porsches are quite reliable and made to be driven a lot, so don't baby the car.
I have a 1989 911 and the quality is great. I know people with corvettes and mustangs who have buttons and little stuff falling off their car and their car is only 5-8 years old. Mine still has original paint and people think it is only 5 years old. The convertible top was 20 years when I replaced it, and it really didn't need replacing that bad.
I haven't driven the Cayman yet, but many have said it is one of the most balanced, most fun, and best driver sports car out there. Also TPC racing has a turbo kit you can add from $7,000-$10,000 which will make the car perform like it should if Porsche wasn't holding it back from going into 911 territory.
Even if you don't keep it long you won't lose much value to it. Porsches only drop so far then the value stays at a decent amount.
If you are putting only $5,000 down on a car that values at $27,000 to $35,000 and it's already five/six model years old, maybe a higher-end car isn't for you?
^ good advice.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
