Cayman prices

[Stoo]

Hi everyone, I've been looking at various cayman 987's with some low mileage 2007 3.4 Gen 1s going for around 20-23,000. Seems that newer (09,10) base gen 2s go for a similar amount. 

Does this seem expensive for an 07 plate considering it's now 10 years old? Is this the market rate at the moment or has it always been like this? 

Bore scoring aside I would be happy with a gen 1 'S' with low mileage but I feel (justifiably or not) that it's a bit on the steep side for a 10 year old car when it's compared to a younger base gen 2.

ive only started looking recently and want to check from experienced owners on what I can expect to get for a budget of around 20,000 and whether I'm being rinsed or not at these rates! Thanks.

[Luke]

Very expensive for a Gen 1 Cayman in my opinion. Low mileage isn't always a good thing on those cars, it could mean they've had problems and been off the road, had a new engine, or are yet to encounter issues. £20k onwards should get you a well specced Gen 2 Cayman, or £24k onwards will get you a decent Gen 2 S. For £20k I'd get a Gen 2 Cayman, but that's what I did, so maybe I'm biased.

 

There are nice Gen 1 cars out there but you need to be more careful in terms of the checks, etc. you need to perform before purchase, that's why the prices vary so much between Gen 1 and 2.

[DKR_77]

I wouldn't pay that kind of money for a Gen1.  £15-17 tops for a low mileage good condition and well specced example.  

 

They can have their issues but I don't buy into the idea that a low mileage gen1 is a sign of anything to be worried about.  Agree that independent checks are a good idea though.  If you can undeststand more about the way it's been driven (i.e. Short journeys, commutes, occasional weekend use etc) and how it's been looked after then that's very valuable information.  

 

If if you can get a gen2 with half decent mileage for low £20k's, then I'd go with that over a gen1 S 

Edited March 30, 2017 by DKR_77

[Luke]

9 hours ago, DKR_77 said:

I wouldn't pay that kind of money for a Gen1.  £15-17 tops for a low mileage good condition and well specced example.  

 

They can have their issues but I don't buy into the idea that a low mileage gen1 is a sign of anything to be worried about.  Agree that independent checks are a good idea though.  If you can undeststand more about the way it's been driven (i.e. Short journeys, commutes, occasional weekend use etc) and how it's been looked after then that's very valuable information.  

 

If if you can get a gen2 with half decent mileage for low £20k's, then I'd go with that over a gen1 S 

 

We've got to remember that these cars are 10 years old now. To me, if a 10 year old car has done 20,000 miles, just 2,000 miles a year, it's not enough, cars like these don't like to sit still, they need a good drive often to stay in good mechanical order. Again, just my opinion, but if I was in this position, I wouldn't be more attracted to a low mileage car over one that's done an average amount of miles, e.g 50-60k.

[Trickle]

I'd take a low mileage car, I'm not sure that any of the issues that can affect these cars has been demonstrated to be caused by lack of use has it?

[SteveS]

Hi Stoo, Yes I agree that it is a lot for a 2007 plate S. I recently purchased the same for less than £16k, but with 67k on the clock, which for a 10 year old car is less than 7k a year.

 

If I was in the same situation I would look for something cheaper and keep a bit of cash back for the odd niggle you may get. 

 

Keep up informed and we all want to see pictures.

[Stoo]

Thanks guys it seems that it's generally trade sellers that are optimistically pricing their cars. At least i now have a realistic idea of what to expect to get for my money. I'm not ruling out higher mileage cars either as long as it's been cared for.

[CaymanAdam]

I'm probably fairly biased on this topic, but I would take a higher mileage Gen 2 car for that money. There are loads of reliable Gen1 cars out there, but I was pretty nervous after some of the stories I heard and I agree with Luke, these type of cars don't do well just sitting there.

I bought my 2009 Gen 2 Cayman S back in 2013 with 45k and have added almost 50k miles since then, which have been pretty much problem free.

 

Again, you could buy a perfectly reliable Gen 1 (or a perfectly unreliable Gen 2!), but reliability aside, I don't think I could bear to part with that sort of money for a Gen 1.

[briggy]

Sounds a lot to me. I test drove a Gen1 S in 2014 from a Porsche Main Dealership for 22k. As it was with OPC, it would come with a 2 year warranty. It would be hard to justify any 10 year old Gen1 car for that money now.

 

Cheers,

Bryan

[PhilCS]

Agree with what has been said above, it's generally over pricing by dealers.  

 

Gen1 shouldn't cost you more than £20k for a decent one

[Andy L]

It's all well and good saying that anything over £20k for a gen 1 Cayman is over the top, but if that's what the market is prepared to pay then dealers aren't going to be in any rush to drop their prices. I've been keeping an eye on the Cayman market for the last two years in anticipation of my recent purchase. Back then you could easily get a mid mileage 2006 Cayman S with 19 inch wheels PASM, Bose, Sat Nav and heated leather etc for around 16k. Now the equivalent car (2008) does seem to be more around the £20k mark, with low mileage Gen 1's at £22-23k. I paid £17,500 for my 2008 gen 1 in January of this year. It had 36k on the clock, 19 inch wheels, sports seats, heated leather, rear wiper, xenon headlights, cruise control, one owner and full service history. The condition of the car is superb and I've not seen anything else comparable since I bought it.

 

The cost of Porsche ownership is increasing across the board. 944's have gone through the roof in the last few years as have 968's and 928's. 997's and even 996's are also on the rise. All of this will push up demand and therefore the prices of even the lowly gen 1 Cayman. Not to mention the fact that many people are only just starting to wake up to just how good the Cayman is... Personally I can only see one way that early Cayman prices will be going, at least in the short term.

[s3 akr]

What you will find with OPC cars is that the price advertised includes 2 years warranty and breakdown, but they will be listed as individual items on your receipt costing around £1800 or so. The car is therefore booked at less of a price - also worth bearing in mind when they sell you gap insurance!  Ensure you're comparing apples for apples when it comes to OPC prices vs others. You can also reduce that warranty cover to save some money in the short term if that's important to you. This may not be true in all cases as I've not researched it, but was true on my car back in May 2016.

[Stoo]

S3 akr these seem to be prices from your average forecourt dealership and not from Porsche themselves. With what Andy L is saying and from what I have been seeing recently it really seems that prices are firming up. 

I would be interested to know from the chaps on this thread that state 20,000 is high for a 3.4 S if they have purchased their car recently or if they have had their car for a few years now? Just to see if there has been a shift in pricing recently. 

I'm inclined to agree with them however as Andy L says if that's what people have started paying then that is how it will remain. 

Which makes it more difficult to pay the going rate when you realise you could have got something much cheaper a couple of years ago!

[s3 akr]

I had the very same dilemma when buying my PCR in May....... buy now but is it the top of the market regarding price ?...... or wait and watch the prices go higher still and beyond my means ?  It's a tough one, but I agree that once the prices start to firm up then that's not a bad time to jump in. If prices start to rise, you could find yourself missing the boat. Me.... with my luck, I probably bought at the top of the market, but as long as it depreciates slowly then I can live with it as it was never bought as an investment.

[Andy L]

You're lucky Cayman R prices are still very much on the up. A friend of mine brought a black one in November 15. The car was immaculate with around 11k on the clock. He paid around £40k for the car. It's probably worth £47 now...

[Bushman]

almost exactly 1 year ago I bought mine, a high mileage early 2007 gen 1 S for substantially less than the figures you guys have been quoting,, almost half the more expensive quotes in fact. . I weighed up the odds, very high mileage but with FSH till 2014, good condition inside and out and indicators gleaned from the service and mot history and previous listed owners told me my car had  probably mainly pounded up and down motorways with a lady behind the wheel for most of its life. A scenario unlikely to stress a Cayman at all but still rack up serious mileage.

it puffs a millisec of blue on startup and last week I had to put about 200ml of oil in, used over the last 1500 miles or so, this seems to be far less than some lower mileage M97 engines I read about. Yes Ive had to replace the front discs and pads and both front coffin arms, Ive just forked out for new boots all round and had a broken window regulator that snapped its cable in the icy weather when it froze.  It loses a bit or water but I can live with that. But thats about it, a daily grin maker, music to my ears, a joy to drive to work and back, best money Ive ever spent on a car..

What I'm trying to say is: don't get hung up by low or  high mileage,  or gen this or that. Do your homework, check histories, look for clues and indicators.  Know your budget factoring in consumable and running costs, they will be higher than a Ford Focus, tax for instance cost me £500 a year, that hurts !!, I didn't factor that one in. Tyres can be up to a grand.. Servicing could be more than the mortgage payments too. STILL THE BEST CAR I HAVE EVER OWNED.

[987Monkey]

Agree, there is plenty of Cayman to be had for £15k.