[pookie]

http://nashville.craigslist.org/cto/992209942.html

It's been for sale for awhile. Just dropped it in price again. No affiliation, I just keep seeing the car.

[Lucky]

Engine is likely cabbaged.

You are looking at $10k to $11k (total investment given the $6k asking price for the car) to put in a used replacement engine if you DIY. You can buy running 2.5L Boxsters all.day.long at that price. At <$4k, his rolling chassis starts to be an OK deal.

[racer]

KBB pegs it at over $16K.. now that is funny.

[savowood]

IMS failure according to the ad...

Replacing the motor is really the only option. The ad talks about another solution. It's not. You need to replace the motor. A straight motor swap is about 5k with a used motor. A new one will run up about 6k from there. At that point, it makes sense to put a 3.4 or 3.6 in unless you want to run it as a Spec Boxster.

If I had the money, I'd do it. I wouldn't use it as a donor car for a Spec. I'd go ahead and do the 3.6 X51 with a nice suspension and Hoosiers.

-Michael