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How much is it worth?

944 LIL

944 LIL

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I bought LIL for £820 - 120k miles 1986 Lux. It needs new sills and sprucing up a bit - the work is underway. Question I have is how much will the car be worth when its done? Purpose of the question is to understand how much money can I sensibly blow? In reality how much do I need to tell the wife I've spent so she doesn't think I been throwing money away. As I want to change the pin stripe interior for leather I'm fairly sure it will be money badly spent - but I've bought the car to have fun, not make money....


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Somewhere between £1000 for a scruff and £4000 for a top of the class. Every car needs to be judged individually, at this age you can't make a 'one size fits all' assumption on value.
 
I don't know even as much as Paul about specific value, but as a guide it is generally more expensive to bring a 944 up to high standard than to buy one of a high standard. In other words it would be very easy to spend more on the car than it would be worth, even doing quality work yourself.

Unfortunately cars depreciate but new parts prices don't, and used parts become ever more scarce which drives up the cost (and their prices tend to be linked to new prices by most breakers, possibly 50% of the new pre-VAT price). They also possibly become of poorer quality when you do find them as they are older and more worn.

None of that is to say it's a bad thing to do to tidy up a car with some rough edges, and there is a lot to be said for knowing what has been done and how well rather than buying someone else's repair (or car about to need repair), but it isn't likley to add more value to the car than it costs, nor probably to "break even".
 
Fen is right ... try looking at it from the point of view of running costs and depreciation.

ANY car will cost money to run, and not just in petrol/insurance/tax. Any modern car will also cost a whole pile of money in depreciation - and that is the most expensive bill that most car owners meet in each of the first 5 or so years of a car's life.

Your car won't depreciate. Look after it, and you'll never struggle to sell it for £820. If the worst comes to the worst, it will depreciate £820 ... and on that basis, your 944 will be dirt-cheap to run compared with anything else comparable. Any work you do to smarten it up should be seen as improving your own ride, and is best not viewed as an 'investment' per se.

ETA: "How much money can I sensibly blow" is a function of you, not a function of the car!


Oli.
 
Paul
Thanks. Heart sank at £1000 but soared at £4000. As I see it loads of headroom to improve LIL !
 
Fen
Thanks - wise and sage advice - probably applicable to all classic cars. That said LIL isn't an investment - I've bought if for fun and the kids love it. For the sake of the 944 community, the Porsche Brand and the safety of the UK population, I'm not doing any of the work myself !!
 
Matt

When I get it fixed I'll post better pics - the sills are rusted through, badges are missing and it needs a damn good polish!

 
Oli
Thanks - good advice from everyone - I'm guessing I'm going "to blow" far more than I should - as you have rightly spotted - because I want to !! The pinstripe seats are in pretty good order, but leather ones will be nicer... won't they!!
 
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