Question for seasoned 996 owners regarding PPI on 07 997 C4S

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Groovzilla
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Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by Groovzilla » Fri Jun 15, 2018 10:10 am

All,

As I respect this forums input and opinions, I have a question regarding an 07 997 C4S I put a deposit on 2 weeks ago and had PPI'd yesterday.

Those of you that know me from RL forum are aware that I sell my Porsches frequently - I just get bored and have tried stepping up to later model examples and my recently sold my 05 997s to buy a 991 but test drove a 997 C4S and was pretty much sold on them. I think the 07 997C4S is a car I would keep for a while.

07 997C4S
75K miles - Orig clutch
Meteor gray/Full black leather and sport seats
Ceramic coated Porsche Sport Exhaust
7 owners
Carfax shows minor accident in 2010 - Passengers side 1/4 panel repainted and blended to door.
Not much service history - Carfax shows services since 30K miles

Having said that I negotiated with the seller down from $36,500 to $33.5K prior to the PPI yesterday at Porsche dealership in southern Calif.

PPI Results came back and was disappointed to learn the car has a RMS leak and front/rear bumpers were repainted. (I knew the rear passengers side 1/4 panel was repainted from the minor accident.)
Brakes need pads in front
Air compressor/tire repair gel missing(997's don't have spare tire/they have repair gel and compressor)
Overall the shop said it is a nice car, drove really well and interior looked great for year/mileage. *they did say paintwork was A-.

**I figure when I flew down I'd bring air compressor/gel($250) drive the car back here to Seattle I would do the RMS seal and throw a clutch in it as well for about $2900 and get the brakes flushed and pads for another $500 at my friends Porsche shop I've been using for 32 years and he gives me good deals....So essentially I'd have another $3700 thrown inot it for total investment of $35K

I emailed seller last night and told him I'd pay $31K for the car and no more - He came back firm at $31.5K and I backed out of deal.
I emailed him back this morning and told him I'd still buy it at $31K and didn;t wuite understand why he wouldn't sell it to me for that amount considering he has $30,700 loan on it at credit union and making monthly payments?
He came back at $31.5K and is stuck on that number.

I'd be curious how you guys see the value of the car considering the paintwork and your overall opinions on the car at this price. I always think of resale and this car has me a bit worried as to whether or not it would be a tough sell when I'm ready to part with it

Regards from Seattle!
2005 997 S - Atlas grey w/Full black leather

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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by SealGrauWailer » Fri Jun 15, 2018 10:38 am

Groovzilla wrote: Fri Jun 15, 2018 10:10 am
07 997C4S
75K miles - Orig clutch
Meteor gray/Full black leather and sport seats
Ceramic coated Porsche Sport Exhaust
7 owners
Carfax shows minor accident in 2010 - Passengers side 1/4 panel repainted and blended to door.
Not much service history - Carfax shows services since 30K miles

I emailed seller last night and told him I'd pay $31K for the car and no more - He came back firm at $31.5K and I backed out of deal.
I emailed him back this morning and told him I'd still buy it at $31K and didn;t wuite understand why he wouldn't sell it to me for that amount considering he has $30,700 loan on it at credit union and making monthly payments?
He came back at $31.5K and is stuck on that number.

I'd be curious how you guys see the value of the car considering the paintwork and your overall opinions on the car at this price. I always think of resale and this car has me a bit worried as to whether or not it would be a tough sell when I'm ready to part with it

Regards from Seattle!
Value seems good at that entry point with nominal (albeit pricey) maintenance ahead. Good luck closing out the deal with the seller. It'll probably depreciate a little, but with such a low entry point on a 997C4S you're doing a good job of letting the market pay for 80-90% of the car's long-term depreciation.
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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by gnat » Fri Jun 15, 2018 10:52 am

What is the definition of "RMS leak" here? Did they send you pics? If it's just weeping a bit, leave it and watch it. If it's an active drip, needs to be fixed before a road trip.

Assuming the leak is more of the former than the later, your original negotiated price still feels good to me. Annoying the bumpers weren't mentioned up front, but if they are grading it an A- then I wouldn't stress about it.

You've already got him down 5k from his initial ask, I would say you shouldn't quibble over $500 if you like the car.




tl;dr: Sounds like you're being a bit of an ass buyer here ;)

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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by 32wildbilly » Fri Jun 15, 2018 11:00 am

Rear bumper might have gotten resprayed during repairs. I think a lot of people get the front resprayed because of road rash/bugs. Sounds like a pretty good deal to me...but who am I to give advice to the Groov!
Last edited by 32wildbilly on Fri Jun 15, 2018 12:34 pm, edited 1 time in total.
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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by B3DAWG » Fri Jun 15, 2018 12:20 pm

Groovzilla wrote: Fri Jun 15, 2018 10:10 am I emailed seller last night and told him I'd pay $31K for the car and no more - He came back firm at $31.5K and I backed out of deal.
I emailed him back this morning and told him I'd still buy it at $31K and didn;t wuite understand why he wouldn't sell it to me for that amount considering he has $30,700 loan on it at credit union and making monthly payments?
He came back at $31.5K and is stuck on that number.
Groov,

This is a classic pissin' contest. Don't lose a good car over $500. That's chump change. If the PPI didn't reveal any serious damage to the suspension, drive train, or frame, then it seems like a crazy deal on a 997 C4S. Heck, the 996 C4S are still bringing in $25K - $30K. I wouldn't let the accident bother you if you plan to keep the car for longer than your average, just be mindful of the "carfax black eye" that affects all resell. It's just life. You're getting a great deal now and then the next owner will haggle you down based on the accident too.

Go buy the car, get the RMS and clutch updated, and you're good. I wouldn't worry over the IMS on this car since Porsche moved to the more durable larger ceramic bearing.

Cheers!
Last edited by B3DAWG on Fri Jun 15, 2018 3:02 pm, edited 1 time in total.

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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by 5chn3ll » Fri Jun 15, 2018 1:21 pm

Replace the pads and flush the fluid yourself...and voila, there's that $500!

I haven't followed 997 depreciation, but I'm assuming the car will drop further in value as it gets older and you put some miles on the car. Resale is a crapshoot, but you already know that having bought and sold 996's (and pretty much every other car ever made) in the past.

Since you sound as though you really like the car (since you said you'd likely keep it a while), buy the car and start enjoying it sooner than later.

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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by Groovzilla » Fri Jun 15, 2018 5:02 pm

Thanks for the feedback guys.
The oil leak is more like seepage on the black wide oil line that runs perpendicular underneath the tranny bell housing - the oil line is damp but no drops - Owner/seller was freaked out when he found out because he has never seen a drip on his garage floor.

And it was sort of a pissing match regarding my getting out of the deal - Part of the story is that the seller is a 26 year old techy punk with a fucked up shitty attitude that I didn't appreciate during the entire time I negotiated and set up PPI/etc.

Took a week to get the car into the Porsche shop so during the wait I had questions regarding his loan/etc and he acted annoyed when I asked him about it - I tried explaining that if I am making a cashiers check out to a credit union i'll be damned if I would do it without seeing loan paperwork. He also refused to discuss anything on the phone after I sent my deposit. Just a typical prick attitude.

So last night when it came time to trim the price after I got the PPI report I was a total dick and treated him like a little prick kid.
Especially when he wouldn't budge from $31.5K and accept my $31K.
I explained that I have a lot of experience selling Porsche's and its a bitch sometimes having to get the car to PPI shop/deal with looky loo's/etc and why would he pay another loan payment and not just accept my offer?
He's a techy engineer so I should do like other Seattleite's and blame Amazon.

When he refused to budge I told him I was done and asked for my deposit back - He Paypal'd me asap which was admirable.

The other pain in the ass is that my wife wants to come with me on this trip and she is whining now about re-booking flights/etc.
In the 20 or so Porsche I've bought in Calif/Az or Texas over the past 30 yrs I've done the trip myself and now I have to do a freakin balancing act not to piss her off. I really miss the good ole days - Didn't realize or appreciate the length of leash my wife gave me.

I'm gonna think about things - Something is bugging me about the deal. Not sure why but might be his attitude.
even if I put $4500 into clutch/brakes/service, being at $35,500 on an 07 C4S is $8-$10K less than market right now - Hard to find a nice 997C4S
I'm booking another pair of airline tickets now and think it over. I have 24 hrs to cancel

Appreciate the input - Best to everyone
2005 997 S - Atlas grey w/Full black leather

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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by gnat » Fri Jun 15, 2018 5:44 pm

If it were me, I'd never ask about the loan beyond "is there a loan on it?" and "what bank do I make the check to?". If I was him I'd tell you anymore than that is none of your business. I am an overly paranoid techie punk though ;) :lol:


You've done this more than the entire forum put together, so I'd say if your gut says something isn't right, you should trust it.

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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by Groovzilla » Fri Jun 15, 2018 7:23 pm

Thx Gnat - Yeah I get this weird deal in my head about the car - I've never owned a Porsche with so much paint work - The work was done very well and car looks excellent, sits nice with H&R sport springs that lower it 1" while still being able to use the PASM adjustable suspension.
And meteor gray is one of my favorite colors and sport seats are nice.

There was another aspect to this which turned out to be a great find. The car has aftermarket Forgestar wheels in black and new tires. The wheels are nice but I hate black wheels. I like Lobster Claws.
I put a feeler out on RL for a trade for Lobster claws and guy w/06 997 has a set of Lobster Claws in widebody fittment that are in shop being refinished. He lives about 25 minutes from my house and will do a trade for the wheels only so I had it set up that we'd meet at tire shop if PPI went well.

Had a text discussion with seller tonight - Sort of found out why he wouldn't go $31K - He's completely buried in the car - Paid $37K and dumped $4K into it with suspension work, PSE titanium ceramic coated and new tires

Oh well - Gonna probably sleep on it
2005 997 S - Atlas grey w/Full black leather

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Re: Question for seasoned 996 owners regarding PPI on 07 997 C4S

Post by FRUNKenstein » Fri Jun 15, 2018 7:58 pm

Lobster forks
www.kansascityautomuseum.com
Current:
2002 996TT X50, Guards Red
1987 928S4, Guards Red
1987 951, Guards Red
1973 914 2.0 Bahia Red

2006 955S, Lapis Blue
Other toys:
1988 BMW 325i Cabriolet, Alpin Weiss
1987 Bertone X1/9, Verde Chiaro
Gone but not forgotten: 1975 914 2.0, Laguna Blue; 1999 996 C4 Aerokit Black; 1990 964 C2 Guards Red; 2006 955S Arctic Silver

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