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The Most Affordable Porsche 911s, by Generation
Plenty of car people have a 911 on their bucket list, and why wouldn’t they? Germany’s quintessential sports car has been consistently quick, consistently good-looking, and consistently aspirational for more than six decades. The problem is, they’re kind of pricey. Especially since about a decade ago, when vintage Porsche prices boomed. Compared to 2015, many of the older, air-cooled models have doubled or even tripled in value. Don’t despair, though, because each generation of Germany’s sports car has its bargain-shelf choice. No GT2, GT3, Turbo S, or Speedster models to be found here—just the most affordable Porsche 911 of each era.
1964–73
1969 911 T Targa
The first Porsche 911s, often called the “long hood” models, aren’t cheap. But a good one can still be had for under six figures. The 1969 model year was the last for the 2.0-liter engine (it grew to 2.2 liters for 1970), and the carbureted 911 T served as the base model, slotting in under the fuel-injected 911 E and 911 S. The 1969 911 T Targa currently carries the lowest value of any 911 of this era, with values of $120,000 in #1 (concours, or “best in the world”), $86,000 in #2 (excellent) condition, $57,000 in #3 (good) condition, and $30,000 in #4 (fair) condition. Adjustments in our price guide include adding 10 percent for factory air conditioning and subtracting 10 percent for the glass rear window on Targa models (instead of the available soft, clear plastic). If you can live with two fewer cylinders, a 912 of the same era is worth significantly less.
1974–77
1977 911 S Targa
The mid- to late-1970s were the time of impact bumpers and regular changes in U.S. emissions laws, and although Porsche integrated these hurdles better than most, 911s of this period did suffer from engine issues like excessive heat.
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For 1974, the standard engine grew from 2.4 to 2.7 liters, and in 1976 Porsche introduced the first 911 Turbo (the 930) to the U.S. market. A 911 from this era used to be somewhat affordable. A decade ago, few stretched past 30 grand. It’s a different story today, though, as the most affordable 1974–77 model is the 911 S Targa from 1977, which carries a #2 value of $55,000 and a #3 value of $41,000. Add 10 percent for factory air conditioning and 10 percent for factory sunroof. Cars finished in rare, bright colors can also command a premium.
1978–83
1983 SC 3.0 Cabriolet
The 3.0-liter 911 SC carried the base model 911 banner in the late 1970s and early 1980s. They’re stout and well-built, and before the explosion in prices for all things air-cooled in the mid-2010s, these were a fairly affordable way to get into a classic 911. The SC was available as both a coupe and a targa, but it was also the very first 911 available as a full cabriolet.
When it comes to sports cars and values, there’s an old saying that “when the top goes down, the price goes up.” Porsche people, on the other hand, tend to prefer their cars with a roof that’s nice and rigid. An ’83 911 SC Cabriolet is the cheapest of the SCs despite its novel body style, and from here on out a cabriolet is the cheapest way into each generation of 911.
1984–89
1984–86 Carrera Cabriolet
The 3.2-liter 911 Carrera arrived hot on the heels of the successful 911 SC. Visually it looked quite similar but benefited from improved power and performance. Power increased further for 1987, and today the 1987–89 models are worth a bit more than the earlier ones. For this era it’s naturally the Carrera Cabriolet from 1984 to ’86 that comes in cheapest, with values of $75,000 in #2 condition, $42,000 in #3 condition, and $31,000 in #4 condition.
1990–94 (964)
1990–93 Carrera 4 Cabriolet
As the 911’s biggest update, the 964 more smoothly integrated the bumpers into the bodywork than the previous 911, and the vast majority of parts under the skin were new as well. The 964 was the first 911 available with all-wheel drive, which Porsche deployed in the Carrera 4 model, and it was also the first 911 available with Porsche’s Tiptronic four-speed automatic transmission. Offering its signature sports car with all-wheel drive was a wise move for the folks at Porsche, but today the heavier all-wheel-drive 964s are worth significantly less than their rear-drive cousins, and a Carrera 4 Cabriolet is the cheapest way into 964 ownership with a #2 value of $74,000 and a #3 value of $56,000. Subtract 10 percent for the Tiptronic automatic.
1994–98 (993)
1995 Carrera 4 Cabriolet
Heavily updated from the 964 that came before it, the 993 was the very last air-cooled Porsche, and to some it’s the prettiest 911 of them all. It also came at an important juncture for the company, arriving in time for the 911’s 30th anniversary, as Porsche shifted focus: The front-engined, water-cooled cars like the 928 were gone, and the Boxster hadn’t arrived yet. Briefly, during the early months of 1996, the 993 was the only model keeping the lights on at Porsche.
When Porsche introduced all-wheel drive on the 964 generation, it proved a popular option and made up about 20 percent of orders, so Porsche further developed the system on the 993, and the Carrera 4 version of this car only adds about 100 pounds to a two-wheel-drive version. Even so, the 1995 Carrera 4 Cabriolet is the cheapest way into 993 ownership, with a #2 value of $77,000. Examples in more used #3 condition are currently worth $59,000. Subtract 15 percent for cars with a Tiptronic, which was a popular option on Cabriolets.
1999–2005 (996)
1999–2004 Carrera 4 Cabriolet
For anybody trying to get into the absolute cheapest 911 there is, the 996 generation is where it’s at. With it, the 911 went into the new millennium having abandoned air-cooled engines, which turned off some purists. Its looks, particularly in narrow-bodied base-model form, and thanks in large part to the notorious “fried egg” headlights, are arguably the 911’s worst. And then there are the infamous intermediate shaft (IMS) bearing failures. The issue was somewhat overblown and isn’t very likely to affect cars now, but those engine-ruining issues will always be a stain on the car’s reputation.
Regardless, it’s still a 911, dangit, and the most affordable way to get one is the the all-wheel-drive Carrera 4 Cabriolet built from 1999 to 2004. It’s only slightly less expensive than the rear-drive Carrera 2 and currently carries values of $30,000 in #2 condition, $19,500 in #3 condition, and $13,500 in #4 condition. Heck, even the world’s nicest one in #1 condition is just $40K. Subtract 15 percent for cars with a Tiptronic transmission, and any cars without a documented preventative remedy for the IMS bearing should come at a significant discount.
2005–12 (997)
2005–08 Carrera Cabriolet
The 997 was (naturally) an evolution of the 996, but it nevertheless marked significant changes. Most versions were better looking, had fewer issues, and came with a better interior than the previous car. Porsche sold it in Coupe, Targa, and Cabriolet form, and the 997 was the first Porsche available with the famous PDK gearbox. Enthusiasts divide this generation into two basic phases—997.1 and 997.2. The 997.2 came out for the 2009 model year and boasted a new direct-injected engine, revised suspension, and some styling tweaks, which is enough improvement that the later models are worth a good chunk more than 997.1s. At the very bottom of the 997 ladder is the two-wheel drive 2005–08 Carrera Cabriolet. They currently carry values of $41,000 in #2 condition, $29,000 in #3 condition, and $21,000 in #4 condition.
2012–19 (991)
2013–15 Carrera Cabriolet
The most recent version of the 911 in our price guide, the 991 was an entirely new platform for the Porsche flagship. A bit longer than the 997 and 996 that came before it and fitted with electric (rather than hydraulic) power steering for the first time, the 991 lasted through most of the 2010s. As with the 997, enthusiasts informally divide this generation into two phases—991.1 and 991.2. For regular Carrera models, the switch to the 991.2 for 2016 meant a mild facelift and a new 3.0-liter twin-turbocharged engine, marking the first time a base-model 911 came with a turbocharger.
Unsurprisingly, it’s an open-top Carrera that comes in as the most affordable version of the 991. It also hails from the earlier 991.1 era, with its 3.4-liter naturally aspirated engine. A 2013–15 Carrera Cabriolet is currently worth $62,400 in #2 condition, $48,100 in #3 condition, and $38,700 in #4 condition.
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You could just save time to say most open tops are cheapest.
Porsche 911 people are not open top people.
Now a 917-30 or 550 Spyder on the other hand the open top is no issue.
Well I tend to disagree. I have a 991.1 GTS Cab and an 1986 M491 Cab. Love them both. I would perhaps rather had a coupe or a targa but these two nice ones came along and….
I’m with you. I wanted the coupe when I was young and racing in the PCA for the stiffness. I’m the 2nd owner of a 1995 993 Cabriolet that I bought with 7k miles at the end of 1999. Still love the car with its 65k miles now. There is nothing better than running with the top down during the winter season here in FL.
Any 356 should go topless! what a body.
I agree wholeheartedly about open tops. I’ve had two 911s neither of which was a convertible. I wouldn’t take a 911 ragtop if it was offered at a dirt cheap price. I live in Florida and open top cars will play havoc with your skin. Give me a 1998 911 any day………if I win the lotto.
997 generation for me is my current modern favorite.
This is the longest way I’ve ever seen of saying “cab tip”.
After 8 Porsches my very favorite remains a 1978 SC coupe with sunroof in Cashmere Beige! Fabulous car.
I have one just like you are describing with original paint etc. Won a first place in a local PCA concours recently, the previous owner had it for 41 years. It’s beautiful. I really like the a Cashmere color.
I have a 1979 in casablanca beige metalic with sunroof, full tan leather and air conditioned coupe. It is one of 2400 California coupes. It has no corrosion at all. The car has been garage kept since new. I bought it in San Rafeal from nephew of original owner in San Francisco. The car is all original and paint is about a #2. interior is almost #1. It just turned 127k miles and I bought it with 79k 26 years ago and it has had excellent maintenance with all engine upgrades. I am just wondering what this car is worth. I am 71 and retired.
Great article. I bought a 2000 966 cabrio and despite the status and lights, it’s a wonderful driver. Bought it in Utah and drove back to Michigan mostly topless especially in Utah and Colorado. If I sold it the day I got back it would still have been worth it. It’s more fun to drive a slow car fast than a fast car slow😀
I have a bunch of Porsche cars and some are cabs which are great for sunny fall or spring day cruising, I never even use the sunroof on the coupes as its just irritating noise to me
That’s what I feel about Sun roofs too , just another noise. Now if you are driving slow , not so bad but who drives a Porsche slow if they don’t have to.
Don’t discourage I liked the article!
It actually made me decided that I need to get my 88 Targa to condition #2 so I can trade it for my all time favorite, a 993… and I don’t care what they say, I’ll take a cab or a Targa, any day!
I’ve had and still have several Porsches, and I have found times when I’m driving a coupe and wish it was a drop top. I’ve never had the opposite reaction when driving a Targa or Cab. I have known some “purists” who think that way, but I couldn’t disagree more.
I’ve had an 83 cab for about 14 years now and had a number of sc’s and 80’s Carrera’s before as well as a couple of 912’s. It’s a great car to drive around on the road and I only miss the roof from the aesthetic point of view or when the top is leaking (the targa can be just as bad). But on a nice spring or fall day or summer evening or morning it’s pretty great.
I would like to know how Hagerty comes up with this Tiptronic deduction. It seems arbitrary. I imagine there are more than just a handful of potential 911 buyers who want an automatic transmission, especially if it is a good quality 911 with other features the potential buyer prefers. I’ve owned both manual and automatic 911s and the transmission was not the focus of the buyer. The main driver of the sale was condition and a solid maintenance history.
Dear Andrew, It’s hard to wire a wide ranging article and have everything 100% correct. It’s annoying to have the peanut galley shooting back peanut shells. But sadly, I did have to take exception to:
“The first Porsche 911s, often called the “long hood” models..”. I’m sure you know and the editors missed that the first 911s (1964-1968) were actually “short hood” models and the “long hoods” were 1969-1973.
That’s it, thank you for the article.
Greg
1968 S and other stuff.
It would be nice to acquire a shiny new 911 (maybe some day) but for now
after driving it for 49 years, I still enjoy my 59 356A sunroof coupe.
I have owned my 911SC Cabriolet for 20 years now, and I have never once wished I had a coupe instead. Yes, the manual top takes a few minutes to put up or down, but during the months that I use the car—when the streets here in the Midwest are not salted—I put the top up only when caught on a rainstorm, and when that happens the top does its job well without leaks or wind noise.
Porsche took care when they introduced the Cab to stiffen its body, and after four decades of use my car feels and sounds perfectly solid.
An open 911 is a wonderful car to drive. If it’s a bargain on the market all the better.
Finally…”NEWS YOU CAN USE’.
Sad to say, but I’m at the age where keeping up a large house, yard and 5 acres is getting a bit much.
Trouble is, when I sell the house, I loose the six car garage.
So, my plan is to sell my small collection and get down to two cars..a daily driver…my wife loves her Lexus AWD, and a practical “toy”. Notice the word ” practical”. Something I can drive without worries. Something reliable and comfortable.
The 911 presses all the buttons: sporty, collectable (maintains value and nice.enough to take to shows), maintainable (as opposed to say a Ferrari or Aston Martin).
A friend deals in used Porsches, awhile back he let me drive a 997. A great car and an obvious answer to the question…If you only had room for one car….
I have had 11 Porsches, 3 PDK, 1 Tip, and 7 stick. I currently have a tip 997.1 Turbo Coupe and love it. I would not purchase a 911 just because it is PDK over a Tip. Both are fine gear boxes. I have had 3 air cooled cabs and 2 Boxsters. Cabs are generally better taken care of and garaged more often, so with a used car purchase either will work. I replaced 911 tops for less than $2,000. Purchase the newest Porsche you can afford.
Was wondering where you can get a top replacement for $2k. I”m in PA and have been told it’s more like $6k+.