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The Porsche 928 is one of the reasons I love used cars. When it ceased production in 1994 a new one had a list price of £72,000; today it can be bought for £15,000. That’s about the same as for a new Mazda MX-5 or Mini Convertible — but the Porsche has a 350bhp 5.4 litre V8 engine and a top speed of 171mph. Which I reckon makes it a bit of a bargain.

Revealed to the public in 1977 the front-engined 928 was intended to replace the 911. The new car’s water- cooled V8 engine and 2+2 body made it seem the natural successor to its smaller, tail-happy sibling.

Today early 928s change hands for as little as £3,000, but keeping one on the road requires more than your average DIY mechanic’s abilities: you’re better off spending about £10,000, where you’ll find a good selection of early, albeit high-mileage, 928 GTSs that represent the final and finest incarnation of the car.

Despite exhibiting all the quality associated with the Porsche name a used 928 is not to be bought on a whim. There are rules if you want to find the car of your dreams rather than of your nightmares. For example it’s always better to buy a 928 on condition rather than age, and to pay a little extra for a fully serviced car than one with a patchy history that costs a few grand less.

Sit inside a Porsche 928, turn the key, prod the throttle and all logic will desert you. It is an intoxicating car to drive, so check it over before, not after, you take it for a run.

The heavily galvanised bodywork should still be good but look for uneven panel gaps and signs of repair. Be cautious of immaculate bumpers and an absence of stone chips, a sure sign the car has had a paint job. Check the electrics as these can be expensive to repair and take a long look under the bonnet for oil leaks. If the engine bay has been steam-cleaned be suspicious.

Most buyers take the first or second car they see but if you want the best be prepared to travel and look at several. Cars of similar age, price and mileage can drive very differently but it’s impossible to tell whether you are in a good or a bad one when you’ve had a sample group of just one. It might be difficult to walk away from a seemingly immaculate Porsche 928 to drive 300 miles to look at another one, but the experience will mean you end up with the best car for the money.

There are plenty of examples for sale. More than 60% of all 928s imported into the UK are still on the road and that means 2,500 cars, so give yourself time to find the right one. If it’s not for sale this week it may be next. Take advantage of the extra time to talk to existing Porsche 928 owners or visit informative sites such as www.928.org.uk.

When you find a car you like and feel yourself falling in love always get it checked over by a Porsche engineer or independent specialist. If the seller is not keen then don’t be afraid to walk away. Spending £200 to inspect a car you might not buy might seem a lot but missing a set of worn discs could cost you much more.

There was a time when buying a Porsche 928 was an expensive business, but with prices pretty much at an all-time low the 928 is now a car that represents a viable buy for sports car enthusiasts. But before you all rush out and buy one, get in line. I’m buying one first.

VITAL STATISTICS

Model: Porsche 928 GTS
Engine: V8, 5396cc
Power: 350bhp
Transmission: Four-speed automatic
Fuel: 23.7mpg (@ 56mph)
Acceleration: 0-62mph: 5.9sec
Top speed: 171mph

Automatics: Oil pressure should be 5 bar with engine running at 5000rpm

Water leaks: Check lining around the sunroof

Steering: Stiff steering can be caused by worn front-suspension ball-joints or steering column universal joints

Engine: Check coolant for signs of oil and look underneath the car for oil leaks

Timing belt: Change every 45,000-60,000 miles and re-tension every 15,000 miles

Wheels: Beware of non-standard wheels; on 1990-1993 models these won't have the standard tyre-pressure monitors installed

Service history: Only buy a car with a full history and service receipts - the ones to buy are those with large documented service and repair bills

Hatchback: Check tailgate lines up when shut and its seals are watertight

Boot: Lift carpet and check boot floor for signs of accident damage

Total sold in Britain 1979-1995: 4,294

Traction: Limited-slip differential standard on post-September 1989 cars

Air-conditioning: Check system works properly as it's very costly to repair

Electrics: Check operation of all electric items, particularly electric seats, stereo, windows and mirrors

THE ONE TO BUY

Porsche 928 GTS four-speed automatic, 1993 L-reg with 70,000 miles. Pay £14,795 at a dealer, or £12,000 privately.


OR FOR SIMILAR MONEY...

1996 P-reg Jaguar XK8 Coupé
1993 L-reg Mercedes-Benz 500SEC
1995 M-reg BMW 850CSi
1997 R-reg Maserati Quattroporte
1995 M-reg TVR Cerbera 4.2

VALUES: Porsche 928 GTS automatic



Retail £16,350 £15,795 £14,650 Manual cars fetch similar money to autos but are rarer; some sellers try to charge a premium.

Source: CAP black book. ‘Trade’ is what a dealer pays for your car; ‘Retail’ is what you pay a dealer