The 996-series Porsche 911 Carrera is the most-affordable 911 — and it always will be. Long billed as the Next Big Thing in the Porsche market for a good decade now, values of the 1999–2004 Carrera swelled, dipped and stagnated while its pre- and post-contemporaries have not. That’s a shame because, much like with sex and pizza, even when a 911 is “bad,” it’s good.
A dubious start
Porsche was in dire straits by the mid-1990s. Global production figures were in freefall, with just 12,000–14,000 cars sold each year between 1992–94. Poor production efficiency was to blame, and Toyota was brought in to consult. Japanese managers were horrified to find a firm still hand-assembling cars, tasking Porsche with a facility revamp and corporate restructuring.
At the same time, development of the beloved air-cooled flat-6 had reached its zenith. The next 911 incorporated the new water-cooled M96 engine family, shared with the recently launched 986-series Porsche Boxster. Actually, quite a bit was shared with the Boxster. Everything from the doors forward on the new 911 was nearly a direct drop-in from the baby Porsche, right down to the “fried-egg” headlights and soft, rounded fascia.
This overt parts sharing didn’t win over the existing Porsche community, nor did the 911’s shift toward mass production. It was more plasticky, cold and corporate than the discontinued 993-series car, causing some early adopters to return their new 1999 Carrera to the dealer in hopes of sliding back into their air-cooled trade-in.
Then, engines started to self-destruct. A move away from the traditional trouble-free plain bearing for the intermediate shaft to a sealed ball bearing turned the new M96 engine family into a ticking time bomb, a problem only fixed by the aftermarket nearly a decade later. The succeeding 997 series fixed most mechanical and all aesthetic issues, cementing the 996 as the rotten branch of the 911 family tree.
Substance over appearance
Here’s a nasty little secret Big Porsche doesn’t want you to know: Comparing Carrera-to-Carrera, the vaunted 993-series 911 is a better driving experience, but it certainly isn’t a better driver’s car than the 996. A base 996.1 Carrera is quicker, sharper, more approachable and more rewarding at higher speeds than any standard Carrera to come before, possessing an innate confidence and approachability belying both its age and rear-engine layout.
Cars built between the 1999–2001 model years constitute the first 996.1 intra-generation, carrying a 3.4-liter naturally aspirated flat-6 behind the rear wheels rated at 300 hp and 258 lb-ft. All-wheel drive was available at launch in the Carrera 4, and a 5-speed Tiptronic automatic could be optioned over the standard 6-speed manual. A refresh for the 2002 model year brought the 996.2, punching the engine out to 3.6 liters and boosting output to 320 hp and 273 lb-ft.
At this point, Porsche hadn’t yet revised its model hierarchy, so the Carrera was as hot as you got until you slid into a GT3 or Turbo. There was no S or GTS outside of the 2002–05 Carrera 4S, a wide-body 3.6-liter 911 with all-wheel drive and the brakes, suspension, wheels and fascia from the contemporary Turbo. A Cabriolet could be had in any configuration, and surprisingly, a Targa incorporating a large sliding-glass roof was available in rear-wheel drive only.
Pricing the range
As is always the case with Porsche, there are variants and models of particular note. Any car fitted with the optional Aero Kit styling package or X51 power kit commands a significant premium, the latter boosting output to 325–345 hp depending on year. Outside of the GT2, GT3 and Turbo, the 1999 Carrera is roundly the most sought-after “vanilla” 996 by purists. This single model year retained a cable-operated throttle (vs. electronic) and an optional LSD, the latter moved exclusively to the 996.1 GT3 and only reintroduced for the 996.2. The 996.2 Jahre 40 (40th Anniversary) is the hottest of the standard 996s with the X51 power pack, standard LSD, sport suspension, sport seats and a number of aesthetic touches. Just 1,963 were built — a shout-out to the 911’s introductory year.
For a clean, well-sorted Carrera coupe with manual transmission, expect to pay between $30,000 and $40,000. An equivalent 40th Anniversary model jumps to $40,000 to $50,000, while Cabriolets can be had for roughly $10,000 less than a coupe. Values depend greatly on condition, color, maintenance history and IMS-bearing repair documentation.
Buy carefully
It’s important you buy the best car you can, using your brain and not your heart. Look for cars with extensive service history, and pay attention to those numbers; although the cars themselves have depreciated heavily, parts and service — like everything else — have only become more expensive. A pre-purchase inspection is a must, checking for bore scoring and signs of IMS failure. Both necessitate a complete engine rebuild, the cost of which starts around $30,000.
IMS assuagement is the single most important point of preventative maintenance for any 911 of this generation. LN Engineering is the biggest name in this field, offering a drop-in sealed-ceramic bearing kit good for six years or 75,000 miles. For this, expect a roughly $3,000 outlay if done at a specialist, while a moderately more expensive oil-fed bearing kit eliminates the problem permanently. While things are apart, it’ll be a grand or so more if you’d like to change the clutch, and it may also be worth replacing the engine’s rear main seal, an inexpensive and leak-prone wear item.
Don’t let this doom and gloom put you off. The 996-series is a bona fide 911 that’s better to drive quickly than air-cooled predecessors and offers 95% of the experience of the more-expensive 997 series for substantially less cash. These cars may not be considered financial investments, but they’re the best bargain in all of Porschedom.
