Here is a story that I need to share in hope I can spare someone else the same experience:

My 1999 Boxster was recently diagnosed with the apparently very common intermediate shaft failure (IMS failure). The big surprise came when I heard the only way to fix this, is a complete engine replacement; $12000 for the part alone! Add the hours needed to put it in, and this is more then the cars current value.
The car has 62000 miles on it and had every scheduled service, done by Porsche certified shops.
When I approached Porsche to help me out, they had a good laugh and told me that the warranty expired 6 years ago. Even after I pointed to the "Implied Warranty of Merchantability and Fitness of Purpose" regulation in this country, and told them that nobody would buy a car knowing that it's engine will disintegrate after 62000 miles, they had nothing to say. I guess my fault for trying to keep the car in good shape and not driving it enough so that the failure would occur within the warranty period.

On their website, Porsche boasts with statements like:
“With the ‘Made in Germany’ cachet, and because of it” and “What counts here are quality, environmental protection, safety. And, naturally, fascination.”

Needless to say that I was fascinated until this happened.

I'm left with two options: donate the car, or get a lawyer. Neither is remotely what I'd like to do.

It is beyond me how Porsche can act this way. They want to make a profit out of this and sell me a new engine. An engine that I need to replace due to a design flaw that they built into it. They didn't even offer to give me a new engine at their cost.

I hope many people read this post and it shows them how Porsche treats its customers. I know, I'll never buy one again. And believe me, it hurts to say that: I loved to drive my Boxster.

Read up on the IMS failure and think again if you think of buying a Porsche. The user forums are full of people with similar stories. Don't make the mistake I made. Don't buy a Porsche!

 

You have my condolences.......... That's a very tough break and I've worried about it for a few yrs with my 2001. I finally bought an aftermarket warranty. If it will save the day or not, I can only speculate.
I agree with this........a company that has a factory and design defect like the IMS failure and does not recall or make it right when failures occur is immoral. As you said, Porsche can offer a deal where they break even, and at least it would be better than nothing, especially on a car that is worth less than it's engine, like yours. This IMS failure is a time bomb....it can happen a month after the car was built or 10 yrs later and it doesn't matter what you did to maintain it, or how you drove it, for the most part.
If not for my warranty, I'd consider selling it. I CANNOT pay for such a loss. I could barely afford the warranty. I'd probably part it out. Many Porsches are owned by wealthy drivers, but not mine!!!! Maybe these guys can afford an engine by writing a check and forgetting about it, but I'm retired and I'll have to schedule my demise an an earlier date if I take $12K out of the bank for an engine!!!
I wish I could help you but knowing that you are not alone with your opinion is the best I can do.
Bob

 

No offense guys, but I take the manufacturer's side on this: they made the car and wrote the warranty and sold the car under those terms. They obviously have decided to live with the consequences, if there are any, and i really doubt they regret that in any way: their cars have good reps and sell well with little if any discount. And Porsches are durable cars in general: well engineered, well built, and giving good service if well cared for.
As to not being able to afford it, I personally believe it is a terrible overreach to buy any car you can't very comfortably afford to just walk away from, no matter what your income. The reason I drive an Aston Martin instead of a Bentley Continental Speed is that I'm fairly certian I can afford any potential failure on the Aston but also fairly certain I could not comfortably afford afford to pay a worst-case scenario on a 12 cylinder, quad turbo, four wheel drive exotic.

 

Lee... It looks like you don't drive a Porsche at this time. That's one way to avoid an IMS failure. This defect which the OP suffered from is a time bomb, as I said in a post above. There are speciality companies out there reengineering the Porsche design and offering good but expensive solutions to the problem. When someone correctly maintains a car and does not abuse it, I have a big problem with it being likely to have a total engine failure, requiring replacement, at any milage at all, which may or may not occur during the warranty. Since a recall would be a monumental cost for the manufacturer, the honorable thing to do would be to provide some, if not all financial support, to an owner when such a defect causes failure.
Do you have collision insurance on the Austin Martin? I don't know the year or value of the car, but I'd bet you do have the insurance, and why?....because you can't very comfortably afford to just walk away from it after a collision, and a collision is something that you can actually control, for the most part. It's similar here..... I bought the aftermarket warranty, but it kills me to do so. I'm one of those people driving a $17K car with a $12K motor it it.

 

Actually, I don't carry anything beyond the liability insurance as required by law on any of my cars, including the Aston. I basically am self insured and I pocket the profit State Farm would make otherwise.
For the record, it makes particular sense on something like an Aston to just not insure the car itself: these are great cars, no faster than a Carrera but really a noticeable step up from any Porsche in build and materials quality and driving experience, but any exotic other than a Ferrari (which is too bling, and not English enough, for me) depreciates like a rock falling off a cliff. My Aston listed for $158K new, with the ProDrive engine upgrades and all its options, and drive out here in the US was north of $165K with taxes and such, but now, less than two years later and with still less than 10K miles on it, I could probably get only $70K for it. Point being I've already eaten more than half the sticker price in depreciation, so why pay good money after bad to insure the rest of it?
To be blunt, you bought a car you really can't afford without thinking about the money, which ruins the fun of ownership. I don't do that anymore, but I won't say I haven't done it in the past. In 1973, I bought a used 1966 275 GTB -- the base, three carb, two cam model but still, seomthing today recognized for what I thought it was then: one of the really classic Ferraris. I was in way way over my head and didn't know if for a while, but i was lucky -- I I got out with only the loss of a few hundred dollars. The cost of my lesson was a bit cheaper than yours was, but its the same lesson. You had bad luck and you are bitter: which if you think about it objectively, means the car is doubly ruining your life. I'd get rid of it and adopt the policy I have: if you can't walk away from it, don't buy it.
If it matters, I actually spend more on model trains than on the Aston. Those, I do have insured, simply because some cannot be replaced.

 

Lee.....you make good sense from your prospective. But if I had a toy that I could "walk away from" it might be a 2000 Grand Cherokee....... That would be sad, wouldn't it? Many guys that drive 986s really don't have too much extra cash , but they really want a fun ride (OP's 1999, for instance). So when they take a hit like a total engine failure, it REALLY hurts and that may be the end of toys for some time. Myself, I'm retired and if the economy is favorable and nothing goes too wrong in the future, I may not have to hire someone to snuff me out with a pillow while I sleep earlier than when I expire of old age! There is just not much room in that formula for an IMS failure. Actually I shopped for a less expensive roadster like an S2000 or Miata but with my height I could not fit in them, so I had to upgrade to a 986.

Bob

 

Well, I hope it works out for you with your 986.
They are fundamentally good cars.