To the OP:

I think you can put the whole RMS paranoia in some perspective and not let it ruin your drive.
I am on my 4th 911 (one 996 C4, two 996TT, one 997.1 C2S cab).

All bought used (never less than 35K miles on the clock).
NONE had any RMS issues. Not before I bought them (always insist on complete service history AND insist on a thorough PPI) and not after I bought them.

The downside with hanging out in these online forums, is that it tends to highlight the small number of cars with problems. The thousands of drivers who put tens of thousands of problem-free miles on their cars, never come online to tell us about that

Secondly, the RMS was redesigned for the 997.1 (from the old 996 version), which, from what I have read, has led to FAR fewer failures.

Regardless, as others have posted here, you should have no problem finding a CPO 997.1 car from a private party within your budget.
The CPO will give you the peace of mind you are looking for, along with possibly an extended warranty.

As fine a car as a BMW M3 is, if a Porsche is what you want, why delay based purely on a fear which can be easily mitigated?

Any car lover has this one make or model he absolutely craves (some of us have more than one, LOL ). My craving for a future drive, is Ferrari.

Now I can read hundreds of horror stories about maintenance and reliability and never buy one (I only buy cars as daily drivers), or I can filter the stories and look at the higher mileage, more frequently driven cars. And surprise, surprise: F-cars that are driven regularly, have FAR fewer issues than the garage queens and are barely more costly than a 'normal' car in terms of maintenance. So that is where my focus will be in a year or so (F430 or F612).

Read a little more about 997.1 and RMS. Compared to the 996, there are far fewer incidents. Find a nice example, inspect the crap out of it, make sure it has CPO, get extended warranty if you still need the extra peace of mind and DRIVE.

 

Hard to pass up the BMW 4/50 that covers everything but tires. Really have to do what will make you happy. I think for me an m3 is a safer bet but I've wanted s 911 for years so it is worth the risk to me.

 

Another option to consider is to purchase Extended Warranty from 3rd party. It is the second best thing after CPO. Search the forum, there are few reputable companies, and people in this forum report good experience dealing with them.

I bought my C2S with few months of warranty left, and purchased a 5-year 3rd party extended warranty from Porsche dealership. It has been two years, I have not used it, but the peace of mind is great.

 

I agree with this wholeheartedly. We purchased a 996 TT from a Lexus dealership a few years back and bought an extended Lexus warranty for $2500. They wound up putting a new engine in the car under the Lexus warranty 2 years after I bought it and I didn't even have to argue with them. I only needed to show that I had maintained the car which was easy because I had all maintenance done at my local P car dealership.

My current 997 was purchased from a different Lexus dealership and I didn't hesitate to buy the extended warranty. My Porsche warranty runs out in November, but the extended Lexus warranty runs until 2017. Not bad for a 3 grand investment.

At the time i bought my 997, it seemed like dealers were asking for a much higher premium when they cpo a car vs. What a good 3rd party warranty costs.

It also makes it a lot easier to sell to a private party, whether you have cpo or a good 3rd party warranty. My $0.02 at least.

 

there was a thread posted a few weeks back someone bought a 3rd party warranty from the P dealer and they charged them 6 grand.

 

Here's the problem --
I see a lot of replies suggesting third party warranty . I also see a lot of replies suggesting CPO . Personally I feel CPO is the best coverage one can get but I also feel that ALL of the extended warranty choices ADD to the cost of the original purchase . None of them will change the fact that the person is buying a 3 year old used car .

That's why I feel a new 2011 Cayman S is the way to go or an M3 (new) or spending more to buy a new 997S.
65K is just too much to pay for a three year old 997S and when he goes to trade in that car and it's 5 years old he'll get offered 40 in trade in . That's 25 grand which = the same as the depreciation as if the car was new .

There comes a time when a desireable item prices itself out of the market .. and in my opinion thse recent uptick in asking prices have done just that .

 

Actually, here's the problem.....

If his budget is $65k and he wants a 997S, no matter how much more sense it makes to buy a new 997S, his budget is still $65k and it will never equal the base price of a new 997S which is $90,500. If he wants a 997S, all he can do is search for a good preowned example and do his homework.

Whether he purchases from a private party or a Porsche Dealer or some other dealer, his budget is $65k. If he can walk out the door at the Porsche dealer with a nice example that makes him happy, CPO warranty in hand for $65k, Great! If he finds a nice example from a private party and purchases an easycare warranty and stays below or at $65k, Great! If he purchases from non-Porsche dealer and buys a good extended warranty all for <= $65k, Great!

The point is, there are many cars out there, you just have to search for the right one and do your homework with DME scans, PPI, Paint Meters, etc. Actually, there is never a good time to buy one of these cars. Maybe if you buy a 20 year old, low mileage example that you can enjoy for 2 or 3 years (while praying that you don't have any major issues) and sell it for what you paid, you come out ahead, otherwise, we're all on the short end of the stick when it comes to resale.

Buy what you want, enjoy it and don't be too concerned about depreciation. No matter what you choose, your gift when it's time to sell it will be a big hit to your wallet, so get what you want and what you can afford.

 

"all " he can do ?
He can save his money rather than over paying for a car . 65K is what an 08 car cost two years ago . If someone wants to buy it now he'll find out exactly how much it cost him later when his CPO is finished and the car is 5 or 6 years old and needing repair . Or what if his non CPO extended warranty denies coverage in one of their loophole clauses . If he's trying to save money then why not really save it ? Why not price in and evaluate the possible unexpected overall cost ?

Because if he did .. he wouldn't pay 65K for an 08 car. That's why.
No car is worth that . The 997S is a great car .. but it isn't that great.
In fact ..maybe that's why so many of the same cars appear on auto trader for months --unsold.

 

Sure he can keep his money, but the OP stated that he wanted a 997S and I said if he wants one then that's what he'll have to do.

Even when you buy a brand new car and keep it beyond it's warranty period, you'll take a beating on the trade after 4 years, if you have mechanical issues, the costs can be astronomical, etc. Heck, you'll take a beating on a trade the day after you buy it.

The point is, everyone that buys these cars buys them for different reasons. Some to fulfill a lifelong dream, some love the handling and performance characteristics for the track, some just want to be seen in a 911...the list goes on and on. I don't think anyone buys the car as an investment, if thats what youre looking for, youd take the bus or a bike everywhere you needed to go.

whether the car loses 10% or 60% of it's value while you own it, you know you'll lose something going in. The key is to enjoy it and stop counting the dollars and cents once you have what you want.

 

Maybe this one for $55K and buy a warranty??

2008 C2S with 19K miles.

http://sfbay.craigslist.org/sby/ctd/2294327408.html

No affiliation to seller.

 

We have a philosophical difference. Maybe the "lifelong dream" is better left as fantasy because the reality of buying a used car and facing repair hurdles or exit depreciation is often not part of that "dream" .

But there is one fact that is universal---
The buyer holds the cards with his checkbook ..not the seller .

Just for a moment place yourself in the reference point of the original poster coming out of a BMW lease . He gets a new car every three years . He gets free service. He's got to be accustomed to sense of security that his relatively new car is reliable and his monthly lease fees are very different than buying a used car. This purchase for him is not just about buying a Porsche 997S .. but it's also about shifting the dynamics of his car ownership experience. In my opinion.. that in itself is a big step.

 

First off I really want to thank all of you for some very good advice. I have been really thinking about this purchase a lot. I think the M3 is great but I really want a 911. Everytime I see one drive by or hear that awesome flat 6 sound I just want to run out and get one. The problem is while my wife and I make a good living, spending $100k for a new P-Car purchase would be too much. That's why I was looking at pre-owned. I went to a dealer and they were telling me they could get me into a 2011 C2 stripped down on a lease for $1200-$1300 per month. I got a bad vibe and thanked them for their time. You have given me a lot to think about.

Here is one more thought, does Porsche lease CPOed cars, or lease returns, say 2008 or 2009 MY cars. Would that be an option, I could swing $950 per month on a lease. The new M3 coupe I was looking at was coming out to $835 per month with no $ down. I am leasing this time, no more losing 15-20% of my down pmt every 3-4 years. I am putting my 535 money, what's left of it in the bank.

If these options don't work out I think waiting another year or so for an 09 or 2010 997.2 with the DFI motor so I don't need to worry about RMS : )

Heck I have waited 35 years to have a 911, what's another year, I should still be around and kicking at 45 yrs old : ) I guess I can just drive the Ford Explorer as my daily car until then and maybe my wife will let me drive her 335vert every once in a while ; (

 

Excellent points!!! That's the problem with leasing and BMW's great programs, you get VERY much used to it. For the record, we (wife and I) have only leased one car, her 08 328 coupe, she just got a new 335vert. I purchased my 535i with about 40% down. 3 yrs later I want something more sporty, Mid-life issues, perhaps, but besides being a HUGE P-Car fan, I am a huge ALMS follower and they don't run 535i sedans. As great as the 535i and it's 300 HP was, I did not need 4 doors, and I felt like "old man sedan". Wish I leased it

Live and learn. Back to my point, you are so correct about the dream and reality, I don't want to drive a 997 and not be able to truely afford the costs it something bad happened. Don't get me wrong, it would not sit on block stands in my driveway under a blue tarp until I could afford to fix it. but a $13k motor replacement bill would hurt for a couple months.

Thanks again for the advice, even if I don't want to hear the truth. I will hold off on doing anything for a while.

Nice group of people on this forum, too bad I don't have a p-car, I feel like a poser, some of the BMW forums are just filled with with so many haters.

Cheers.

 

I have given it a lot of thought too . I realize some guys on the forum lease the Porsche but i have never seen a Porsche lease that I felt comfortable with . It's not the same as BMW lease offers .Most of leases i saw nearly added up to buying the car with the exception of the end of 08 and beginning of 09 (when the economy dipped and the inventory was high) .

1200 per month X 36 months = 43200 compared to the 20 grand under MSRP that they are asking for a three year old 08 car .
In short .. it's huge !!! Some of the guys who lease the car at those prices claim that they own a business and benefit in that manner and my counter argument is "only if you get a new car in three years and only if your business is still in business. Keep a Porsche 6 years .. then compare " .

Ok .. so you want the 65K 997S . There is one thing to your advantage . southern Califonia does have a lot of used Porsches . It's a good region to look.

 

While you can lease a CPO vehicle, the rates are not as good and the residual is a fixed amt, not a percentage of MSRP, so they often result in payments just as high as leasing new.
Unless you plan on keeping a car for a long time, at some point you're going to take a big hit trading it in. The 10k or so spread between wholesale and retail is going to affect you as much as the initial depreciation of a new car.
I think leasing can make sense, sure you may pay a little more than buying and selling over the same time period, but the uncertainty is taken out of it. I figure it as paying extra to have the convenience of being able to turn the car in at 3 years, without worrying about getting killed on the trade.
Watch what happens to the value of your car if you get in any kind of accident, even if repaired perfectly, you'll likely lose several thousand or more. Leasing takes that out of the equation.
If you love the car at lease end, and the residual is a good number, you can always buy the car out, at least you know the car's history.