Carrera 2
1990–1994
Rear-wheel drive with the 3.6L and 247 hp. Lighter and more pure than the C4, and the one most drivers want.
Desirability
Buyer's Guide
Porsche 964 911
1989–1994
Overview
The 964 is where the 911 got modern underneath without losing what makes it a 911: coil springs, power steering, ABS, and the first Carrera 4, all wrapped around an air-cooled flat-six. Prices have climbed with the rest of the air-cooled market, which makes a thorough inspection non-negotiable. The known weak spots are oil leaks, the dual-mass flywheel, the twin-plug distributor, and head studs. Pay for a leak-down test and a specialist's eye before you commit.
- Production
- 1989–1994
- Built
- ~63,000 worldwide
- Price range
- $50,000–$200,000+
- Best years
- 1992–1994 (refined production, fewer early issues)
What to Pay
Prices checked January 2026. Rough US market ranges. Location, history, and options move these a lot.
Project
$35,000–$60,000Cars needing engine work or with significant issues. Still valuable due to air-cooled premiums.
Driver
$60,000–$90,000Running and driving with some needs. Good entry point for air-cooled ownership.
Excellent
$90,000–$140,000Well-maintained Carrera 2 or C4 with documentation. Clean examples.
Concours
$140,000–$250,000+RS, RS America, or exceptional Turbo models. Low miles, fully documented.
Which One to Buy
Carrera 4
1989–1994
All-wheel drive, and the first 964 on sale. Heavier, but more planted in bad weather.
Desirability
RS / RS America
1992–1994
The lightweight specials. The European RS had 260 hp and a stripped interior; the RS America was a pared-back Carrera 2 for the US. Both are serious collector cars.
Desirability
Turbo (965)
1991–1994
The widebody Turbo, with a 3.3L (320 hp) or later 3.6L (355 hp) flat-six. Seriously fast, and seriously expensive to maintain.
Desirability
Targa / Cabriolet
1990–1994
The open cars. The Targa has a removable roof panel, the Cabriolet a full folding top. Less stiff, but popular.
Desirability
Walk Away If…
- Oil smoke indicating worn engine internals
- Timing chain rattle on cold start
- Unknown service history
- Evidence of water damage or flooding
- Structural rust in rockers or shock towers
- Turbo models with boost control issues
- Heavy modifications without documentation
- Salvage or rebuilt title
Pre-Purchase Inspection
What I'd check on any 964 before buying, with a rough cost if it's bad. Print it and take it with you.
Engine (check first) 5 checks
- Oil Leaks Air-cooled 911s leak oil—some is normal. Check chain housings, valve covers, and case halves for excessive leaks. If bad: $1,000–4,000 depending on location
- Timing Chain Tensioners The dual-row timing chains have spring-loaded tensioners. Listen for chain rattle on cold start. If bad: $2,000–4,000
- Compression and Leak-down Have a compression and leak-down test performed. Should be within 5% across cylinders. If bad: Engine rebuild $15,000–30,000
- DME and Fuel Injection Check for smooth idle and proper fuel mixture. The Bosch Motronic system is reliable but sensors fail. If bad: $500–2,000
- Turbo System (965) Check for shaft play, boost leaks, and wastegate operation. K26/K27 turbos are expensive to rebuild. If bad: $3,000–6,000
Transmission & Drivetrain 4 checks
- G50 Transmission Test every gear. The G50 five-speed is tough, but synchros wear. Check that it doesn't pop out of gear. If bad: $2,000–5,000 for rebuild
- Clutch Test engagement—should be smooth and grab mid-travel. Clutch replacement is labor-intensive. If bad: $2,000–3,500
- CV Joints Listen for clicking in turns. Check boot condition for tears. If bad: $500–1,000
- AWD System (C4) Test for proper engagement. Check for differential noise. System adds complexity. If bad: $2,000–5,000
Suspension & Steering 4 checks
- Coilover Condition 964 introduced coil springs. Check for leaking shocks and worn bushings. If bad: $1,500–3,000
- Power Steering Check for leaks from pump, rack, and lines. Listen for whining indicating low fluid. If bad: $800–2,000
- Control Arm Bushings Front and rear bushings wear. Check for play and cracking. If bad: $600–1,500
- Wheel Bearings Jack up each corner and check for play. Listen for grinding while driving. If bad: $400–800 per corner
Body & Electrical 4 checks
- Rust Inspection Check rocker panels, floor pans (especially under battery), and around windshield. Earlier cars rust more. If bad: $2,000–10,000+
- Wiring Condition 964 uses biodegradable wire sheathing that rodents love. Check for damage. If bad: $1,000–5,000
- Targa/Cabrio Seals Check for leaks and proper seal condition on open-top models. If bad: $500–1,500
- HVAC System Climate control can be complex. Test all functions including A/C. If bad: $500–2,000
Worth Paying Extra For
- Carrera 2 manual for purest driving experience
- Complete service records from Porsche specialists
- Recent major service (clutch, timing chains if needed)
- Rust-free body, especially dry-climate cars
- Original paint and interior
- Sport seats option
- Limited-slip differential
- Books, tools, and documentation
Running Costs
- Insurance
- $1,500–3,000/year
- Annual maintenance
- $2,000–5,000 for regular service
- Common repairs
- $1,500–4,000/year typical
- Fuel economy
- 16–22 MPG
Before You Buy
- The 964 is one of the most usable air-cooled 911s: modern enough for regular driving, still air-cooled at heart.
- Drivers prefer the Carrera 2. The C4 is more forgiving in bad weather.
- Some seepage is normal. Real leaks aren't. Learn the difference.
- Find a specialist who knows air-cooled cars before you need one.
- Budget for a pre-purchase inspection by someone who knows 964s, with a leak-down test.
- RS America values have climbed a long way. Verify authenticity carefully.
- The G50 gearbox is tough, and parts are easy to get
- Rennlist and the Pelican Parts forums both have deep 964 knowledge.
- Budget for engine mounts and suspension bushings. At this age they're due.
- A well-maintained 964 will last indefinitely.
Own a 964?
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