Is the Porsche 928 a Good Investment?
The Porsche 928 was a huge change in direction for the German performance car maker. Before the 928 was being designed Porsche had only made rear or mid-engined cars with an air-cooled boxer engine.
The front-engined V8 powered GT car was quite a different car than the 911 and it met with its critics. Many Porsche Purists felt that all cars from the marquee should be rear or mid-engined and that they should only be cooled by God’s good air.
With the 928 being so different many of the purists didn’t like the idea of it wearing the badge. For them matters only got worse when the V8 GT car took the top spot in the model lineup.
At the time of the 928’s conception it looked as though the rear-engined sports car may be outlawed in the United States (thanks to Ralph Nader’s book, Unsafe at Any Speed, which highlighted the rear-engined Chevrolet Corvair). Partly to help hedge their bets and also to allow for more rear-cargo space, a front-engined layout was used.
The Porsche 928 for a while was also planned to replace the aging 911. As sales of the rear-engined sports car had a slump, it was thought that a new model was needed to replace the 911. This idea was later changed and as we know the 911 has now been with use for over 50 years.
Even though there has been a lot of 911 versus 928 debate over the years, both cars are very good in their own way. The 928 is perhaps the best GT car to ever be made. It has unique styling, is powerful enough for just about any use and is great for just eating away the miles.
The 928 has a front-engined rear-transaxle layout which makes it a very well balanced car. This results in much better handling than most 911s of the same time frame.
Right now prices of the V8 cruiser are very reasonable, making it one of the most affordable Porsches that you can find. Plus with the 928 you are getting a car that was once the top of the line car, where most other cheaper Porsches would be the “entry level” vehicles.
Recently, the brand’s CEO was quoted saying that the Porsche 928 is likely to be the next great collector car from the marquee. No matter if he is right or wrong, chances are that values of the front-engined GT cruiser won’t go down anymore.
If thinking of purchasing a 928 one should try to buy the best one they can afford. Porsche repair prices can get very pricey, so a well maintained car will save you plenty in future repair bills.
The 928 can be somewhat difficult to work on for novice mechanics, but if you take your time and learn from people with experience repairing the cars a backyard mechanic can do much of the maintenance. This will save you a lot of money in labor.
When looking at a potential Porsche 928 keep an eye out for body damage. Many panels are aluminum and can be more difficult to repair than traditional sheet metal. Fortunately, replacement panels can be purchased if damage is beyond repair, but the price of this can quickly cost a good chunk of money.
Over the 928’s production run constant improvements were made to the cars, including larger, more powerful engines. As a result the later cars tend to cost a bit more. The Club Sport and GTS models are more sought after, but a good S4 is probably the sweet spot for affordability and good power.
As with any used Porsche a pre-purchase inspection is a must. Ideally the inspection would be done by a mechanic that is very familiar with the 928 as there are some unique features that aren’t found in other cars.
The Porsche 928 may or may not become a blue chip investment, but no matter the future value it is a great and fun to drive Porsche. It also is likely to go up in value, we just aren’t ready to say that it will skyrocket anytime soon.
Prices for Porsche 928s range quite a bit depending on year, mileage and condition. Below are the price ranges that we found in our research, but remember that a show quality car may be worth much more and a complete restoration project may be worth less.
1978-1982 Porsche 928 $3,500 – $12,000
1983-1986 Porsche 928 S $4,000 – $15,000
1987-1990 Porsche 928 S4 $5,000- $18,000
1987-1988 Porsche 928 Club Sport $12,000 – $45,000
1989-1991 Porsche 928 GT $11,000 a $32,000
1992-1995 Porsche 928 GTS $14,000 a $40,000
Picture Source: The Car Spy