Though it may be hard to believe, Porsche’s first-generation 986-series Boxster is now 25 years old. While the Boxster was considered by many to be the Porsche you bought if you couldn’t afford a 911, in truth it was among the sharpest, purest sports cars the brand has ever built.
From rags to riches
By the early 1990s, Porsche was hemorrhaging cash as sales from its aging lineup slowed. The venerable 911 was hanging on, but a new era of gee-whiz technology made the car feel dated. Ditto the 4-cylinder 968, which had its roots in the 1970s and long struggled to be considered a “true” Porsche with its front-engine configuration. The 911 was due for a final revamp before its air-cooled engine would be phased out for a water-cooled variant, but first Porsche readied an entirely new entry-level model.
That was the 1997 Boxster, a thoroughly modern car with a water-cooled flat-6. It would re-introduce a mid-engine layout to Porsche’s road-car lineup for the first time since the 914 was canceled in 1976. While the 914 was criticized for its Volkswagen links, there would be no such issue with the 986 Boxster, an all-Porsche effort. A larger-displacement version of its motor would even find its way into the 911 two years later. Many other components would be shared between the two models to cut production costs and return Porsche to profitability.
With only mild revisions from the retro-themed Boxster concept that debuted at the 1993 Detroit auto show, the production car’s low nose, swoopy rear fenders, humped engine lid and center-exit exhaust all played to the styling of the 1953–55 550 Spyder. Of course, that car loomed large among Porsche fans, not only for its racing success but also because of James Dean’s fatal accident behind the wheel of one. That link wasn’t forgotten by Porsche, which styled the numerals on the Boxster’s gauges to resemble the “130” racing number that none other than George Barris had painted on Dean’s Spyder.
Return of the giant killer
Early reviews for the Boxster were overwhelmingly positive, with the new liquid-cooled, 201-horsepower, 2.5-liter flat-6 praised for not having lost its raspy exhaust note. While some testers desired more power (the 0–60 mph sprint took 6.5 seconds), the car’s handling was exemplary, just as you’d expect from a 2,700-pound mid-engine roadster. Though this was Porsche’s new entry-level car, it was one of the hottest things going for the 1997 model year. Demand was so great that most production was moved from Porsche’s Stuttgart factory to Finland’s larger Valmet plant starting in 1998.
For the 2000 model year, a new Boxster S trim was added, bumping engine displacement to 3.2 liters, which brought 250 hp and dropped the 0–60 mph run to 5.5 seconds. The Boxster S also got bigger brakes, a third frontal air inlet for an extra radiator, a twin-tip exhaust system and a stronger 6-speed transmission that superseded the base model’s 5-speed. (A 5-speed Tiptronic automatic was also available on both cars.) This same year, the base Boxster’s displacement was enlarged to 2.7 liters, bumping power to 217 hp.
For 2003, a cosmetic refresh tweaked the front and rear bodywork, while the convertible top’s plastic rear window was replaced with glass (with defroster), and a proper glovebox was added to the interior. Boxster S models also received another power increase to 258 hp, with changes to the intake and exhaust systems. The 986-series Boxster was discontinued in 2004 for the second-generation’s launch as a 2005 model.
Pleasure and pain
No discussion of early Boxsters is complete without touching on the notorious intermediate shaft bearing (IMS) issue. Simply put, these bearings can fail, which results in destruction of the engine. Cars built from 1997 to ’99 are said to be more robust, with a dual-row bearing, while 2000–04 cars generally feature a weaker single-row unit. While the failure rate for even the later cars is generally believed to be around 8% (1% for the dual-row unit), it’s worth taking preventative action rather than playing Russian roulette.
Aftermarket companies — LN Engineering being among the best known — provide more-robust bearing replacements starting at under $1,000. While the IMS bearing is being replaced, the oft-leaky rear main seal can also be tackled. It’s an easy job “while you’re in there,” and doesn’t add much to the repair cost. The same applies for clutch replacement, though a clutch kit will set you back somewhere north of $600. Figure $3,500 to $4,000 for this trifecta of service work. Air/oil separators and power convertible-top mechanisms are also worth inspecting before purchase.
Top Boxsters
So which Boxster to choose? We have two suggestions. First is one of the earliest Stuttgart-built models from 1997. While there’s no evidence to suggest that the build quality of the German cars is superior to the Finnish versions, their relative rarity may pay dividends in the future. These early 2.5-liter cars are also the purest expression of the Boxster’s ethos, being the lightest and lacking a drive-by-wire throttle and PSM stability control. Go for the retro launch colors of Arctic Silver over Boxster Red leather.
For most enthusiasts, the Boxster only got better as it evolved. In that case, look for an S model; specifically, a 2004 Boxster S 550 Spyder Special Edition. Just 1,953 were built for the global market and a mere 500 came to the U.S. These cars got extra power along with GT Silver Metallic paint (lifted from the Carrera GT supercar), 18-inch Carrera-style wheels, optional Cocoa Brown leather interior, a serialized plaque on the center console, and several other options as standard including M030 sport suspension. The 550 Spyder edition represents the ultimate factory 986 Boxster, though they already command a 20% premium in the marketplace. Expect that gap to hold, if not widen.
What to pay
Before the recent market run-up, first-generation Boxsters were simply depreciating late-model cars, with most examples selling in the teens. Today, you’ll spend in the mid-to-high $20k range for an excellent, low-miles Boxster S with the IMS fix already done. The 550 Spyder editions top out in the mid-$30k range, and the best early 2.5-liter cars hover around $20k. With Porsche service and parts prices being what they are, have a reputable Porsche specialist perform a PPI and ask to see the paperwork on the IMS bearing replacement. You’ll come out ahead in the end by paying up for an excellent car. ♦