The 987 Generation — What Actually Happened
The 987 came out in 2005 as a replacement for the 986 Boxster and the original 996-era Cayman. It ran through 2012 on the US side, with a facelift arriving in 2009 that brought the 987.2 into the mix. People call it the perfect little Porsche because it finally looked right, handled like something much more expensive, and the base engine actually made sense for daily driving. But the question of whether it's still worth buying isn't simple, and there are failure points that catch most buyers off guard. I bought a 2007 Cayman S with 41,000 miles on it in 2019. The paint was good. The interior was tight. It drove exactly the way you'd expect a mid-engine two-seater to drive — planted, communicative, not overcomplicated. But three weeks later I discovered the IMS bearing was starting to show metal in the oil. That wasn't a guaranteed failure on every car, but it was close enough that it changed how I looked at these engines going forward. The M96-derived engine in the early 987 shared a lot with the 996.911 lineage, and that includes the intercooler placement quirk and the IMS weakness. Porsche didn't redesign the engine from scratch for the 987. They updated it. The first-generation 987.1 models from 2005 through 2008 carry this risk. The 987.2 from 2009 onward got a revised bearing and a different crank seal that resolved most of the problem, but even then, oil leaks are not optional — they happen.
Here's what most listings don't tell you. The VarioRam intake system on the 3.4-liter flat-six has plastic runner flaps that crack over time. When they fail, you get a check engine light, a rough idle, and sometimes a whistling sound from the intake that gets louder under acceleration. The fix is replacing the entire VarioRam assembly, which runs around $1,800 to $2,400 at a specialist depending on whether you go OEM or carbon-fiber-reinforced aftermarket parts. I had this show up at 72,000 miles. I found it because the car was running slightly rich and the fuel trims were off by about eight percent long-term. The SMG transmission in the 987.1 Cayman S is another thing to consider. It's a single-clutch automated manual, not a dual-clutch PDK. It's fast when it works, but the actuator pumps and mechatronic units are known failure points. A rebuild runs $4,000 to $6,000. The 6-speed manual is bulletproof if you keep the bushings fresh and don't ride the clutch. The PDK came later in the 987.2 and is a much better system. If you're looking at a 987.1 with SMG, budget an additional $5,000 minimum for future transmission work or plan to swap to a manual. Oil consumption is real on these engines. Porsche rates them at about half a quart per thousand miles, but in practice I saw closer to a quart every 800 to 1,000 miles on hot climate cars. The piston ring design from that era doesn't scrap oil as effectively as newer designs. You'll need to check the dipstick weekly, not monthly. Using Mobil 1 0W-40 or 5W-40 synthetic and topping it off between changes is not being paranoid — it's the only way to keep the piston crowns from burning oil excessively.
The chassis is solid. MacPherson struts up front, multi-link rear. The hydraulic steering feels more natural than the electric assist that Porsche later went to on the 981. Suspension components last a reasonable number of miles if you're not hitting potholes at speed. Control arm bushings, tie rod ends, and sway bar links are the usual wear items. A full rear subframe refresh with poly bushings runs about $1,200 in parts at a shop that knows what they're doing. Doing it yourself cuts that in half if you have the tools. Electrical gremlins exist but they're concentrated in specific areas. The door handle switches fail frequently — you'll lock or unlock the wrong door on occasion. It's an annoyance, not a breakdown. The instrument cluster can develop dimming or dead segments on the analog dials. Aftermarket replacements from eBay are hit or miss. I kept the original cluster and used a reconditioning service that cost $450 and fixed all seven gauges. That was worth every penny. Body panels and paint are generally durable. The aluminum hood and trunk lids resist corrosion well. Polycarbonate rear windows fog up over time — you can polish them lightly but they eventually need replacement. Soft-top models in cold climates see the fabric get brittle after ten to twelve years. Rubber seals dry out around the same window. A full seal and top refresh from a Porsche specialist runs about $2,800 to $3,500 including new seals and conditioning.
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Here's the practical takeaway. A well-maintained 987.2 with the manual or PDK transmission and a clean history will drive reliably for another hundred thousand miles if you stay on top of oil changes and monitor consumption. The 987.1 requires more vigilance but the repairs are well documented and parts are available from multiple sources now. Prices for clean examples have crept up from about $18,000 to $25,000 in the last few years, which reflects the growing recognition that these are genuinely good cars. Don't buy one expecting it to be cheap to own. Budget at least $2,000 to $3,000 per year for maintenance if you want it to stay reliable. Buy from someone who keeps records. Ask for the oil history. Check the IMS bearing status on 987.1 models — either confirm it was replaced with an updated part or budget $2,500 for the repair yourself. The 987 isn't perfect. No Porsche from that era is. But for the driving dynamics, build quality, and remaining longevity, it's still one of the best values in the used sports car market if you know where the landmines are. And now you do.
