Is A Cheap Porsche A Good Investment?
If you have been lurking around the used car market in search of a new ride I bet you have come across at least a few Porsches for sale. For those who are not in the know, Porsche is a legendary sports car manufacturer that is known around the world for its build quality and performance. With that being said, you might be wondering why some of these amazing cars are so cheap? Well, you’re in luck because a former Porsche technician is here to tell you if a cheap Porsche is a good investment or money pit.
A little background on myself – before I became a full-time writer, I was a Porsche technician. I have over 15 years of experience in the automotive industry. Throughout my career, I have performed every duty in a mechanic shop. This experience ranges from being the manager of the business, writing repair invoices, performing simple oil changes, all the way up juicing up supercars from Porsche and McLaren. I say this upfront to give you an idea of my expertise on the subject and to ensure you that this information comes from someone who has been there first hand.
Which Porsche’s are a Good Investment?
To answer the question, “is a cheap Porsche is a good investment” truly depends on which Porsche you’re talking about and what your definition of cheap is. Porsche is a true breed of its own when it comes to used car values and the price of some vehicles would even make Scrooge McDuck’s eyes water.
What it really comes down to is how well that particular Porsche has been maintained. Service records are one of the most important things you can look for when buying a Porsche at any price tag. For example, a first-generation Porsche Boxster for $5,000 could be a good deal if the car has been well maintained. If it smokes and looks like someone had a knife fight in it, then probably not.
It’s also important to note that not all Porsches are going to appreciate in value. Cars like the Boxster and Cayenne tend to only go down in price unless they’re some sort of super rare limited production variant. If you’re looking for a Porsche that is going to make you money in the long run, I personally recommend the 996 generation of the 911. These fabulous sports cars were produced from 1999 until 2005 and are still relatively cheap in the Porsche universe.
Great examples of this 911 can be picked up for around $20,000 and the prices are steadily going up year to year. A good example of this is the 996 Turbo model. Just a few years ago, you could buy these 400 horsepower speed machines for around $50,000. Today, I dare you to try and find one for sale at less than $80,000 with the models in excellent condition going for well over $100,000.
Is a Cheap Porsche a Good Investment?
The truth of the matter is Porsche is one of the best car manufacturers on the market and builds quality products. The best thing you can do if you’re looking to invest in a Porsche is to do tons of research. That said, the used Porsche market is still more stable than Bitcoin but it fluctuates pretty often. What is hot this year may not be the next. So, make your purchase wisely and choose a 911.
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Drew Blankenship is a former Porsche technician and lifelong automotive enthusiast. Recently, he began writing for several websites and is enjoying the career change. He lives in North Carolina with his wife and their dog Enzo.