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Should I restore or sell? 190k miles
#1

Ok, first, I checked all the topic titles and didn't see a better place to put this post. If it should be moved, moderator please do so!

I know some of you, others I have read your posts. Let me start by saying that I haven't posted much because I haven't needed much!! In the past 50k miles, I have changed brake pads and one knock sensor. All else has been working fine. Of course routine maintenance has been done. I'm now at 192k miles and things are starting to show their age.

My car is a late 94 Cabriolet, Gran Prix white with a blue top and interior. Body and paint wise, the car still looks really good. Some rock chips on the front fascia but that should be an easy fix. My interior looks really good for it's age. Both seats and the shifter gaiter needs to be recovered but the dash is good, carpet is good, etc.

Last oil change, I pulled the valve cover and replaced the gasket. The chain tensioner on top looked great, all teeth on my cam sprockets looked good, etc.

So here's what I am up against. I know I need to rebuild front and rear suspension, replace my clutch (t/o bearing has been noisy for a while but otherwise working fine). I have the typical oil pan gasket leak that I would take care of along with rod bearings when I do the front suspension. At this mileage, I am assuming I should be pulling the top end, getting a valve job done, replace the head gasket, clean the intake of sludge, etc.

So why am I asking all of this? Start adding up all the bits and this can get quite expensive. What I am worried about is getting everything done on my list and then having something catastrophic happen or ?? Things I can't really take of, like overall metal fatigue, etc. Given that everything works like it should, it's hard to part with it over what should be a reasonably easy repair. I'm very capable of all the repairs myself, plan to use RS Barn for head work, etc. I have a well equipped shop at home as well. But I know with my mileage, all of this work won't do anything for resale value but I'm not concerned as I wouldn't care to sell it once everything is done.

So I guess what I am asking is, is there some areas of fatigue I should check or any other reason why I wouldn't want to undertake this project? I haven't found anything else so far that I would rather have over my 968 so you could say that my heart is pulling me one way but my brains and wallet are pulling me another.

All opinions welcome [img]style_emoticons/<#EMO_DIR#>/wink.gif[/img]


--Tony
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#2

I would say restore it. Then again, most people consider me to be crazy when it comes to these cars. Personally, for a street car, i dont worry about metal fatigue much. Its not like its an airplane thats gonna fall out of the sky IF something fails. I did a 951 resto with similar mileage. It will be expensve...if you do most of your own work tho, it shouldnt be all too bad. I wrestled with the same dilemma, and started looking at new cars. None of the cars currently being offered, by any marque, in my price range did it for me like a 951/68. Not only that, Im not enslaved in some finance loop either. My cars are paid for outright. Made much more sense to me. Im the type that would rather buy an older car, for 10kish outright, and restore it over time, rather than pay interest, and worry about a payment every month. Also, frankly, IMO there is no better car under 60k, than a 968. With tuning, and boost, IMO there is no better car under 200k. Ok, well maybe ford gt, its under 200k these days....you get the picture tho. Tough to beat a 968 dollar wise, even in 2010.
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#3

Tony,

If i could only count the amount of times I have gone through all of this in my head. I am in the same boat as you in that I have a car that is 15 years old and a list of items that need to be fixed. Some from age others from people I care not to mention. I use mine everyday as a daily driver, so, I understand the concern about longevity.

It sounds like you have a car that is in good shape overall. You are probably in the $2,500 to $7,500 range to fix everything, clutch, suspension, etc. I would say depending on your financial situation that this is not a bad amount to have in repairs. Even if you where to get a new car there is no guarantee that you would not spend money on it as well. Warranties on cars are not like they used to be. Plus, it sounds like you actually have the skill and place to work on it yourself which is one thing I do not have.

Resale on these cars is actually not to bad given the variables. Obviously, I think most of us can contest that we have probably put way more into the cars than they are actually worth. It is not a logical thing. It really is something more akin to the heart. I would say keep the car and restore it if that is what you want to do. I am hoping to do just that with mine.
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#4

yup - it's really all about how much you love that particular car - if that one is "the one", then it doesn't matter what you spend on it

as a contextual reference, i only spent $28.5k purchasing the blue car 7 years ago - i have now spent an additional more than double that over that period of time - it doesn't really matter to me how much money i spend on it, as long as i feel the way i do about the car

   
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94 Midnight Metallic Blue Cab Porsche 968 w/deviating cashmere/black interior and WAY too many mods to list - thanks to eric for creating www.968forums.com



"It isn't nearly as expensive to do it right as it is to do it wrong."
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#5

Oh man, Flash thats got to be the greatest 968 poster Ive ever seen. Any chance their are any of them floating around any where any more?
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#6

Tony,

Had a similar experience with my '82 911SC a few years ago. I bought it for $15K and after 11 years it was still worth about $15k. Same deal with 968s these last 4 years, no price movement.

But as the years wore on, then some of the maintenance things started to accumulate. I was in a similar position to you during the last few years I owned it, wondering, wondering, where to start, even took it to get the interior replaced (it went south). Then a timing chain guide went (plastic), and so one side heads had to be removed. So, while we are at it, better refresh the heads on the other side, and while we are at it, better do a more substantial rebuild, etc.

So I took a look, and the carpet had to be refreshed, and the leather on the seats, and some paint work was aging, and the stereo, and the speakers, and the targa top needed help, and the tires were due in a few months, and, and ..... after 295K miles, some stuff needed help. So $10K for an engine, multiple $K for other stuff, or sell it as-is for about $5K and get another car. Was looking at various, but getting a 968 was a really good choice.

In other words, one thing I suggest to consider is what decision you would make if next week the timing belt broke, or the trans, or threw a rod, or wiring meltdown, or accident. Or if those things happened shortly after you did the restoration work.

So, seem the choices are (depends on how much importance you assign to the balance sheet vs the subjective aspects).
- drive it down like I did (unplanned) with the 911
- sell now and get a 50K mile 968 that you like
- redo everything you plan, but better calculate if the restore costs will give you the best value (only you will know that answer)
I love the 968s, more all the time, and I think they are worth keeping up, so I hope I am not being too negative [img]style_emoticons/<#EMO_DIR#>/rolleyes.gif[/img]

Roland
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#7

monstrous - let me rub it in - lol - i have 2 of that one - one in the garage mahal, and one in the trailer - the wife finds me all sorts of that stuff

back on topic - i think the thing to really tip the scales one way or the other is the color combination, and how much you really like that - if another color is preferred, then i would shop for that, rather than going through the work on a car that may have other hidden problems

but if you like that one, then just go for it
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94 Midnight Metallic Blue Cab Porsche 968 w/deviating cashmere/black interior and WAY too many mods to list - thanks to eric for creating www.968forums.com



"It isn't nearly as expensive to do it right as it is to do it wrong."
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#8

Thanks for the feedback guys! I toyed with the thought of selling this one and getting another 968 Cab with lower miles than mine. From what I have seen in prices, it doesn't make much sense. I can redo most everything on mine for the difference in price and then know everything is new. What's that saying?, better the evil you know than the one you don't? LOL...

I also toyed with a newer 996 as well. Something newer than 2002 when Porsche fixed some things. They are in my overall price range and might be a little more "useful" with the deeper trunk and back seats. Where it falls short is in the DIY repair dept. I recently had a Mini S and loved it until things started happening. I am very capable in the wrench dept but everything I fixed required a trip to the dealer to do some computer tuning to turn off lights and acknowledge the repair. I am assuming the newer 911's are the same.

The reason I went for the 968 to begin with is it's about as exotic and modern as I can get and still be able to perform all major services myself. Between my skills, the factory workshop manual, and all of you on this site, I see no real reason I can't keep this old girl on the road for many more years. And with Flash's supercharger upgrade, that would bring performance up to what most cars are running these days. I can't believe the new Mustang and Camaro V6's are putting out 300hp+!

Also, I'm kicking myself in the butt for not being on the site more often. I totally missed the Ortega run and I live right off the Ortega on the Wildomar side!!

So with all these seperate sections now on these forums, if I post a topic in each one for the correct subject, does everyone have to go to each forum or am I missing the "new posts" section? If I'm going to get all of this done, I will either need help, gain enough experience to give help, or just post some pics to show off [img]style_emoticons/<#EMO_DIR#>/wink.gif[/img]

--Tony
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#9

Do what you feel is best.
I'm at 218,000 miles and counting (352,000kl).
I keep doing the maintenance as it comes up, and she still doesn't burn oil.
I mean, I may top up one quart for every 7500 miles.
I drive a lot, not unusual to drive 3 hours a day most days of the week.
Do about 40,000 miles a year, still love the car. Don't add up the maintenance costs anymore, just spend!
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#10

i think we have all felt the same things about the car, and our choices - it's an ongoing struggle between logic and emotion - it's also a very personal and subjective thing, and only you can determine what makes the most sense to you - i had a very hard time letting go of the car i had for over 20 years - i still wonder if it was the right thing to do

as for being on the site more, and missing the ortega event, yes, shame on you - lol - easy way to fix that though

there is a "view new posts" button - it's toward the upper right corner - you can set the time frame too - it catches most of the posts, but obviously the individual areas are best to look at for anything specific
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94 Midnight Metallic Blue Cab Porsche 968 w/deviating cashmere/black interior and WAY too many mods to list - thanks to eric for creating www.968forums.com



"It isn't nearly as expensive to do it right as it is to do it wrong."
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#11

Boy did you ask the wrong site for information...RESTORE IT!!!

JMHO,

Jay
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#12

The old cliche, "they just dont make em like they used to", to me is especially true when it comes to Porsche.
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#13

Just did all of this to mine, about 340,000 km.

Head gasket
flywheel
engine mounts
variocam chain and pads
rod bearings
piston rings
new head
Oil pickup tube
DME wiring harness
all new engine sensors
rear hatch removed and resealed
oil pump
all belts, seals, etc.
oil pan gasket

Love and care added at no additional cost.

And some funky black lettering on the vanity cover.

Drives like new, probably mostly is new. Lots of $$ but the car should now be good for a while yet. It costs money to drive. Old car = repairs. New car = depreciation. and they all get old.
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#14

I'm with the majority here. Since you're handy with a wrench and have likely kept up with the maintenance, there's no reason the car can't continue running more or less indefinitely. The 968 really is a cool combination of classic and modern, and hard to beat as a well-rounded sports/GT car, with lots of potential to bring it up to modern performance standards.
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