I had not intended on purchasing an extended warranty for one of these cars because I was under the impression they were extremely reliable. I know that the 2005's specifically had the IMS issues, but thought that was somewhat rare?

 

Regarding the $ and non-CPO, I don't think you are asking for trouble. You can definitely pick up a well-optioned '05 - '06 in that mid-40's price range; however finding one with low mileage will be more of a challenge if you are only looking locally. Take your time and find exactly what you want. (After searching a few months up here, I located one int Texas and had it shipped North.)

All used cars have some sort of a story, so just do your best to minimize the risk when purchasing. (e.g. Have a Porsche inspection performed prior to purchase, see service history & carfax, 1-2 owners max, test drive with another Porsche driver, ask a bunch of questions.) I didn't bother purchasing extra coverage.

I've been driving my non-CPO 2005 S Cab a ton. It has not gushed oil onto my garage floor due to a blown main seal, the transmission hasn't dropped out on the highway, and wheels haven't detached while traveling at high speed. As it ages, I'm sure I will be making a repair every so often like I would on any performance car. Its a small price to pay for something so damn enjoyable to drive.

 

Does anyone know what the ball park price extra one should pay for a used S over non S if all things are equal (mileage, year, options) does about 6k sound right? And also how much more should you pay for an 06 over an 05 and an 07 over an 06? Does 5k sound about right? Thanks

 

+1 I previously owned a Ford Sportrac that was out of warranty and after I purchased it I read in a Sportrac forum that there was a problem with the transmission, which was a multi-thousand dollar repair. I became convinced that my transmission was going to go out any day. Well, guess what happened? NOTHING! I drove that truck for several years and had zero problems with the transmission. Maybe I was just lucky, or maybe the problem was overstated.

I was able to purchase my non-CPO 2005 C2 with 30K miles for $41K. The only thing I would add to my original post is that even though I was considering buying a vehicle out of state and having it shipped like mshanler did, I eventually found a vehicle within driving distance from my residence. This allowed me to inspect it in person and get a feel for its overall condition and "story." In retrospect, I think this option allowed me to make a more informed purchase. So if you find a vehicle outside your area, I would recommend driving or flying there to see it in person and talk to the owner/salesman face to face. This way you shouldn't have any unexpected surprises. Don't overthink your decision.

 

I bought my '05 997S with 25k miles from a private seller with no CPO about a 1.5 years ago. Haven't had any problems with the car at all since I bought it. I flew 800 miles to pick it up and drove it home over a long weekend. If you're like me and don't buy cars that often, it's worth looking far and wide for what you want.

In your price range, you should be able to find a good '05 997 (non-S, or maybe even a high mileage S). Good luck!

 

Look for a 05-06 C2 CPO'd... you're there