Agreed, if it does need rings or new valve seats, you are looking at a heafty bill right off the bat. This is why you get a Prepurchase inspection done that includes leakdown and compression tests.

 

Oh and it is a 18.9 hour job to replace the rings.

 

Is $500 dirt cheap enough?

 

Yup, that would be about right. If it gets to be too much, you can part the car at that price and make a couple grand.

 

Update on the porsche. it doesn't smoke at all unless you press the pedal all the way to the floor. I will be taking it in the get it checked ou this week sometime but if this bit of info helps any... thanks for all the help so far.