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I recently read a Porsche Club of America article that kinda shocked me. It suggested it’s getting harder to find good 987.1 Caymans for less than $30K.

To be fair, they are talking about low-mileage cars, but I thought their reports were a bit exaggerated. So I'm now searching more intentionally for affordable 987.1 listings. Expect great picks coming your way over the next few weeks. Before we run out! /s

I'm being cheeky, of course. I love the PCA folks, especially the Insider podcast. It's like catching up with a lovable older uncle who shares your passion for Porsches. The difference is that you're hunting for affordable Porsches while paying bills, while they're partnering with Porsche itself to build bespoke limited edition raffle cars. Different points in life, really.

Anyway, this week in the newsletter:

• A babied 2007 Cayman for less than $20K

• A gorgeous 996, manual and non-silver

• A low-mileage 981, with the Premium package

Ready? Let’s find your next dream car!

—RF

P.S. Another week, another attempt at fixing Craigslist links. They're basically the IMS bearing of this newsletter at this point.

Confirmed: Affordable babied 987.1s still exist [15K-20K range]

2007 987.1 Cayman | 5-speed manual | Ferndale, WA

The more I look at this car, the more I like it. The ad is written by an adult who's also capable of taking good pictures (and took the time to detail the car). They mention literally all the things you want to read in an affordable Porsche ad: Full service history, clean title, never tracked or abused.

The car features 19” “lobster claw” wheels, which are a tasteful upgrade from the original stock 18”.

This is a clean and classy base manual Cayman that you should consider before someone else does. Listed just one week ago.

🔗 Garage Queen in need of a new owner? (link)

Market Report

Good 987.1 base Caymans often trade for a few thousand more than equivalent S models, mostly because buyers are wary of the S models' bore-scoring issues. It's a reasonable approach: reliability often beats dealing with potential engine rebuilds.

That said, I still think there are solid opportunities in both variants if you know what to look for. Expect picks for both base and S models in future issues.

What You (and Your Mechanic) Should Know

• This 987.1 uses the M97 engine (same as the 986) with IMS bearing issues, but they're much less common. Porsche switched to a larger, more robust bearing in mid-late 2005, dropping the failure rate from 8-15% to less than 1%.

• No bore scoring issues with this 2.7L engine (unlike the S models).

• Manual clutches typically need replacement around 60-80K miles. Ask the seller about this, since the car is at 100K+ miles.

Manual 996 in actual color [20K-25K range]

2001 996 911 Carrera | 6-speed manual | Great Neck, NY

This blue 996 is a solid deal in my opinion. 6-speed manual with 120K+ miles, but something for you to note: it has a newer engine that was replaced at 55K miles. They replaced the IMS bearing while they were in there. The work was done by Brumos Porsche, so proper specialist service, not amateur hour.

It comes with service records, manuals, new Continentals, and 2 factory keys. Did you know that second key alone costs about $900 to replace?

I posted about it on Rennlist to get some expert opinions, and got mostly thumbs up from the community.

🔗 Blue manual with the hard work done (link)

Market Report

Pricing 996s is tricky for two reasons. First, the huge variety of specs and options means two identical-looking cars can have very different values. Second, these were the "ugly duckling" 911s for years, so many were bought cheap and abused. Since fixing a 996 costs more than buying a sorted one, never buy a cheap 996 unless you absolutely know what you're getting into.

See last week's newsletter for good 996 comps.

What You (and Your Mechanic) Should Know

• This 2001 model has a strengthened timing chain mechanism, so it's more reliable than earlier 996s

• It's the last year before the 2002 refresh, so you're missing the 996.2 upgrades (new 3.6L engine, throttle-by-wire, better traction control, etc.)

• This one got its IMS replaced at 55K miles, so one less big worry (still ask for receipts)

Loaded 981 that's been sitting [40K-45K range]

2014 981 Cayman | 6-speed manual | Houston, TX

This 981 Cayman has only 27,000 miles and comes loaded with the Premium package: 10-way leather power sport seats with heating and cooling, Bose sound system, dual-zone climate control and even the adaptive bi-xenon headlights.

The car looks near mint and has been garage kept. Here's the kicker: the ad has been up for 7 weeks, so the seller might be ready to negotiate.

🔗 A life of luxury in the low $40,000s (link)

Market Report

Compare the 981 Premium above with this recent Cars & Bids auction. For a similar price, you get a manual instead of PDK, nicer wheels (in my opinion), and 20,000 fewer miles.

What You (and Your Mechanic) Should Know

• Not much, really. 981s have a strong reputation for reliability if serviced regularly, and very few widespread model defects.

• 981s are the last naturally-aspirated models before the introduction of the turbocharged 718s (so less complexity to deal with).

• No IMS or bore scoring risks of earlier Caymans.

Adopted Puppies (aka updates on past picks)

The $29,999 manual 987.2 Cayman from last week was gone by Monday. Wow.

Which of you snatched it?

Porsche Problems (aka meme of the week)

And that's a wrap for this week! How did you like issue 3? Hit reply and let me know.

See you next week with more affordable picks.

Take care,

—RF

P.S. Did you find a great Porsche deal I missed? Send it my way. I’d love to check out your finds.