A Carrera 3.2 as a Daily Driver

"kyngfish" (martinbidegaray)
08/26/2015 at 10:49 • Filed to: None

Hi enthusiasts. I’m trying to talk myself out of something I’ve already talked myself into. I need your help.

For five years I’ve been driving a 2004 SLK32 AMG. Overall, it’s been reliable, never left me stranded on a roadway, though when the ECM crapped out in a parking lot, I had to pay around 2500 to get it repaired.

I financed it for about 22k when I bought it, and I’ve gone from 60k to now 112k miles on it. In that time, I’ve replaced the rear tail-lights (heat warp - known issue), the drive shaft bushing, transmission plug, motor mounts, crankshaft position sensor (easy job, but awkward and shredded my hands), replaced the headliner, the plastic cupholder housing, dome light housing (shitty interior plastics), brakes, rotors, and various odds and ends. I could afford all repairs, and aside from the 2500 ECM bill, and 300-400 dollars for shitty plastic interior parts, it’s mostly not been too shocking.

In many ways, it’s wonderful and rewarding to drive. 350/hp and torque with a great mid-range in a 3300 lb car can be fun, even with obvious shortcomings. The steering feel isn’t wonderful, and the balance isn’t great, but ripping it out in a straight line or dropping the top and punching the throttle out of a corner and watching it GO all the way to redline still puts a huge smile on my face.

Now, I’ve seen a 3.2 Carrera in the 35k range - 70k miles, and I’m in love. I REALLY want one, and I think they’re going to slowly move upward into non-affordable ranges, so I think my time is limited to get one.

Here’s the catch. I’d have to trade in my car and finance the rest, probably around 27 to 29k all-in. Payments over 60 months are affordable, and I’d still have the cash to repair normal things. Having already had an out-of-warranty German import, I’m not THAT scared, but I also drive around 40 miles per day and I want to know, generally speaking, will the car hold up for the next 3-4 years? In a pinch, my wife works 3 blocks from the house and we have a 2015 GTI in case it needs to go to the shop for a few days, but that can’t be a monthly occurrence.

My question is, am I just smitten and being unrealistic? Or are all of these videos I see about people driving the hell out of their vintage Carreras really my next adventure? How will the car hold up in a 20 mile commute daily? Yes, I know it’s uncomfortable, but my first cars being mid-eighties Hondas with manual steering and cable clutches, I’m not that scared. Help me out here guys and gals. I feel like I’m on the brink of making a terrible, or wonderful decision.

DISCUSSION (42)

bob and john > kyngfish
08/26/2015 at 10:54

it was made during a time when porsche really did build things right but...

really? you want to finance over 5 freaking years? Thats a bit much, esp for a older car. if you cant afford it up right, or with minimal financing, dont get it. Not mention find out what the insurance is, how safe it is in a crash (you never need it, until you REALLY REALLY need it) and how expensive are porsche part compared to a merc vert parts.

themanwithsauce - has as many vehicles as job titles > kyngfish
08/26/2015 at 10:55

Regulalrly seeing those cars hit 200k miles, I would not be too concerned. Just know that parts will probably take time to come in so you could be sidelined waiting on a cheap part for a simple fix for a few days while it gets shipped from some warehouse just west of nowhere.

Chris_K_F drives an FR-Slow > kyngfish
08/26/2015 at 10:56

Do it.

Worst case scenario, if it becomes too unreliable in a few years spend a few grand on a Honda or Toyota to take you into work. That Carrera WILL go up in value, especially with only 70k on it now! Buy it, hang onto it, and enjoy it.

kyngfish > bob and john
08/26/2015 at 10:56

I’d be shocked if Porsche was higher priced than Mercedes AMG. I paid 300 dollars for a cup-holder housing. 265 bucks for a dome light housing.

Assuming 36k is at the bottom of the depreciation curve, and even with high miles the value will never drop under say... 25k well-maintained, the financing is the least of my worries. I’m losing less money than buying a new car.

bob and john > kyngfish
08/26/2015 at 10:58

i’m not saying your losing money. but to fiance that over so long...(then again, i was never a fianace person. Either I had the money to buy it, or I didnt. if I didnt, i didnt buy it)

also, yea, prepare to be shocked :D

finn's arm > kyngfish
08/26/2015 at 10:59

That’s a big catch & it sounds like it would be a lot being financed ($10K+). That part is the horrible. I would want to daily a 3.2 Carrera. But you’re buying something not as an investment, but something to use daily. I think you would probably keep this car forever, but profit margin might be slim after rebuilding a lot of things over that time.

Milky > kyngfish
08/26/2015 at 11:04

Ha this is perfectly timed, I’m about to post my own “stupid” DD idea with a similar mindset.

How do you say YOLO without sounding like a total D-bag? IMHO tick as many boxes as you can before its too late, I’d go for it.

Tapas > kyngfish
08/26/2015 at 11:20

I’d be more concered with it not being as fast as a relatively modern AMG.

Its a different kind of car altogether.

If you have made peace with that, I’m sure you’ll love it....as long as you have a second car/beater for emergencies.

kyngfish > Tapas
08/26/2015 at 11:22

Yeah, so I could maybe get a beater in about a year... :)

Tapas > kyngfish
08/26/2015 at 11:26

Make sure thats a fun car too!

Like a 2003 Lexus IS300....Because I’m going to have to sell mine soon :(

904 GTS > kyngfish
08/26/2015 at 11:33

Get the Carrera! Altogether a different car from your current AMG but even more satisfying to drive. Just don’t forget to take it for longer drives. That’s where you will appreciate everything about the P-car even more. Maintain it as required. It will be a fine investment, no doubt.

Party-vi > kyngfish
08/26/2015 at 11:36

What bank is going to give you a $30,000 loan on a 25 year old German car? Can you forward me their contact information?

kyngfish > Party-vi
08/26/2015 at 11:46

Actually that’s a fair question. There are a few that might though. I’ll let you know.

DogonCrook > kyngfish
08/26/2015 at 12:13

You won’t be able to get full coverage either. They’ll give you original sale price minus depreciation, they don’t care what you paid or about market value. To get a classic policy that will cover it you need a 95 or newer daily driver.

Also as great as these cars are mechanically at 25 years old there will be many major surgeries to get to a 5 dollar bushing, or a 50c gasket. It’s just the nature of these beasts. Not terribly expensive, and probably way cheaper than the merc but it’ll be a lot of labor. If you can’t afford to break down you need to be proactive about it, but it can certainly be done.

kyngfish > DogonCrook
08/26/2015 at 12:35

Fair point. I SHOULD be able to at least get 10k for my SLK, which I can put down on the other car, but maybe I need another 5-6 grand to put down in order to make it feasible.

RallyWrench > kyngfish
08/26/2015 at 13:17

These cars are absolutely capable of daily use. Maintenance can be expensive, but not a lot goes wrong with them. It should receive a major service with valve adjustment and all fluids every 30k, with oil services annually or every 5k (or less if you want, but it’s not necessary). The clutches are fairly hair-trigger so it’s not great in traffic, but you can drive them on the 3.2’s ample torque to reduce shifting. The 915 gearbox isn’t known for its shift quality, and it can’t be hurried, but if the fluid is changed every 30k it should be good for over 100k before needing syncros. The steering isn’t bad at all, just a little more effort in parking lots. Depending on how long you keep it, it will likely need a top end rebuild around 150k, which can run near 10k nowadays depending on needs. Bottom ends are good for 300k+ if cared for properly. Oil leaks are likely in a million little places, most commonly at the cam chain covers, cam housings, oil lines, oil cooler, and valve covers, especially if it’s never been apart at this age. Little interior trim is likely to crack at this age, but everything is available. If it has it and the AC hasn’t been converted to R134A, it’ll need to be as R12 is all but unavailable any more. Even on a good day, the AC in these is not great because the ventilation sucks, and the evaporator is 10 feet away from the compressor. All that said, with only 70k miles, that should be a good buy, and one you could make money on in the long run. I’ve wanted one since I first drove one as an apprentice 20 years ago, they’re wonderful cars. Find somebody who knows them well to inspect the car before purchase and to service it. Good luck!

kyngfish > DogonCrook
08/26/2015 at 13:19

So. Confirmed. Financing is not a problem. Coverage might be a total pain in the ass! Great pointer.

DogonCrook > kyngfish
08/26/2015 at 13:25

Considering that it will have some downtime and the insurance, grab a beater in the 3-4k range that qualifies. I’d kinda recommend a light truck, so it’s actually usefull as a tool. Financially you’ll probably recoup the money. A classic that’s not a daily is pretty cheap to insure.

kyngfish > DogonCrook
08/26/2015 at 13:32

The mileage restrictions on those policies are actually REALLY tight.

DogonCrook > kyngfish
08/26/2015 at 13:37

Depends on who you go with, and whether it’s registered as an antique or classic. Classic is full use just not your primary, antiques don’t require liability so you basically can’t use them.

Edit: but definitely find out before you buy a second car lol.

911e46z06 > kyngfish
08/26/2015 at 13:56

How tall are you?

CaptDale - is secretly British > kyngfish
08/26/2015 at 14:08

Damn I wish i could buy your SLK32.... I have always wanted one.

kyngfish > 911e46z06
08/26/2015 at 14:19

5’9”

kyngfish > CaptDale - is secretly British
08/26/2015 at 14:26

They aren’t that expensive right now, and aside from a few hiccups, fairly reliable.

CaptDale - is secretly British > kyngfish
08/26/2015 at 14:27

Yeah you say that, but I can’t really afford shit right now so... yeah

CaptDale - is secretly British > kyngfish
08/26/2015 at 14:28

It’d be nice to get one from an Oppo memeber

kyngfish > CaptDale - is secretly British
08/26/2015 at 14:37

How old are you?

kyngfish > Party-vi
08/26/2015 at 14:38

PenFed will give you up to 55k for a Carrera of that vintage. Cheers mate.

CaptDale - is secretly British > kyngfish
08/26/2015 at 14:51

23 soon to be 24

911e46z06 > kyngfish
08/26/2015 at 15:13

Ok, you’re good. I’m 6’2’’, and I can’t drive my ‘87 without the top down.

OneFastPuertoRican > RallyWrench
08/26/2015 at 17:03

Nailed it. All of it.

RallyWrench > OneFastPuertoRican
08/26/2015 at 17:25

Not my first rodeo, as they say.

kyngfish > DogonCrook
08/27/2015 at 11:45

So for kicks, I wrote an email to Magnus Walker, the dude that owns all those 911s. He said to DO it.

Also, it looks like MAYBE an option for the car is getting regular comp and collision and then just buying the gap insurance from my finance company. They are checking to see if that car is eligible, then they’ll call me back.

kyngfish > CaptDale - is secretly British
08/27/2015 at 11:46

You’ll get there man. There’s a lot of fun to be had for under 20k.

kyngfish > 911e46z06
08/27/2015 at 11:47

Lol. The cabriolets are always cheaper. Are they heavier? Not as cool? I’d appreciate the insight.

911e46z06 > kyngfish
08/27/2015 at 12:45

I’m a drop top guy, so I prefer them. They are a bit heavier, rattle like crazy, and they don’t handle as well, but frankly, if you’re looking for pure performance, you shouldn’t be buying an old Porsche. They’re peppy and direct, but you can find much better performing cars for about 3 grand (like an e36 m3 or c4 Corvette). So the wind in your hair and the sound of the motor makes classic Porsching much more enjoyable in my opinion. As for price, mine is super rare, so it’s insanely expensive, but yeah, generally the verts are cheaper. The ideal trim is a black coupe, but generally speaking the coupes are a bit more desirable. So if you’re not looking purely for an investment, I would definitely say to look at the drop tops. Also, it may be wise to wait a year or 2. Some people think the prices are going to stay nuts, but I’m of the opinion that the bubble is about to burst. The really nice examples will stay crazy, but the kind of good-condition stuff should start getting cheaper.

kyngfish > 911e46z06
08/27/2015 at 12:48

Good tip, I’m wondering the same. I was thinking of watching prices for a bit. Honestly, everything is set to go to buy, the only issue, is insuring it as a daily driver. I can insure it completely, but they wont pay the full market value of the car in case of a total loss, it’s a bit of a risk.

911e46z06 > kyngfish
08/27/2015 at 12:51

Yeah, you’re going to want that. They’re straight sketchy to drive in the rain.

CaptDale - is secretly British > kyngfish
08/27/2015 at 13:48

That’s why I bought my ‘06 GTO (20k)

DogonCrook > kyngfish
08/27/2015 at 13:58

Awesome. Yeah I think you should do it as well, it’s not financially speaking the wisest choice unless you are doing a restoration yourself, you’ll probably go a bit backwards. But what’s money for if not to drive awesome cars? I’d personally buy it and never sell it. Until I have a better one looking for garage space lol.

Consider a broker as well, get somone hunting the auctions for one and you might get a steal. Most only take a percent of the sale, and every time I’ve used one I got a car at auction so cheap even with their fees I came out thousands ahead.

DogonCrook > 911e46z06
08/27/2015 at 14:07

Have to kinda agree, it’s not a popular choice but I think it’s a better experience. I pretty much loath convertables, and I’m not fond of targas, but I wanted a 914 and it’s the only option. I have to say it adds to the experience so much I pretty much never use the top. A 914 is granted even less of a speed demon, but it honestly changed my entire outlook of where I wanted to take the car. Before I wanted to make a track beast, but now I’m more inclined to keep it as a reliable driver. Definitely test drive a Targa if you can, it didn’t take long to have me sold on it.

kyngfish > DogonCrook
08/28/2015 at 12:20

I’ve had a drop-top for 5 years, and I have really enjoyed it, but I gotta say, the hard top on the SLK is probably a totally different animal from what I would find in a mid 80s 911 rag-top. With it being a daily driver, I think it would be more of a detriment than anything else. A sunroof and windows rolled down will probably give me some of that sweet sweet engine noise I desire.

In other news, financing is good, insurance + gap is fine for my finance company, so I’m good to go. I just need to know what they’ll give me for my SLK as trade-in. I have a feeling I’m going to be 2-3 grand off of where I want to be, maybe more, which means I may have to wait.