Porsche Boxster meets Porsche 911 Speedster

New or old, to buy or invest? In the two-door premium sports convertible market, Porsche's Boxster has been so popular since its launch it's largely responsible for Porsche's financial turn-around success.

Updated in February, the latest version retails for just over $100,000 and is the least expensive way into a new Porsche. But is it the best?

One car to argue the point is from its own stable, a 1989 Porsche 911 Speedster. Rare as steak tartare, it coincidentally carries a $100k+ price tag.

The biggest difference between the two though is down to the nasty issue of new car depreciation. While a brand new Boxster starts losing value straight from the showroom, the Speedster has proven itself as a nice little asset that's proven more an investment than a purchase.

Exactly why is interesting. Porsche's Speedster is the spiritual successor to the Boxster, itself an homage to the 1950s Porsche 356 Speedster. In 1989, just 2104 Speedsters were built, 139 of those in right-hand drive. Some had the Turbo's wider guards, some had the whale tail, but just six landed in Australia.

So what is a Speedster? It is essentially a 911 cabriolet with a shorter, more-angled windscreen and a moulded hump-back. It loses the 911's quarter-windows which cleans up the windscreen line, but the windows also lose their electric operation.

There is a roof, but it's best described as a 'temporary rain cover'. And where a single button drops the Boxster's electric roof and windows in 12 seconds, and up to 50km/h, the Speedster's hood is just cantankerous. The tedious task involves unclipping studs, flipping the rear window forward, flipping back the hard 'bubble' cover to swallow the roof, while carefully folding the plastic rear window to avoid creases. Skilled, patient hands manage the feat in 90 seconds.

Even the Speedster's owner's manual reinforces its sunny disposition. "The 911 Speedster was designed as a fine-weather car... Certain drawbacks such as draughts, wind noise, leakages cannot be avoided. The 911 Speedster therefore must be washed by hand."

Speedster buyers in drizzly Britain were even obliged to sign a water damage warranty waiver acknowledging the potential for leaks. Thankfully, no such issues with the well-sealed power windows in the Boxster.

They may share red paint, folding roofs, two seats and flat six-cylinders, but the Speedster and Boxster are clearly from different eras.

The Speedster's tiny black windscreen frame and tiny sun-visors barely inhibit vision, and the mirrors reveal the ends of its whale tail, bulging rear guards and the alien-like centre stop light. The windscreen can even be unbolted and removed with basic tools.

The Speedster's dash is an expanse of black plastic and leather. There's no traction control, airbags, climate, cruise or stability control or even steering adjustment - like there is in the Boxster - but there are buttons, manual levers and dials arranged as orderly as a shot-gun blast. You soon get used to the heavy clutch and the left-offset floor-pivoting pedals, and the real feel of the unassisted steering, just like cars used to have.

In contrast, the Boxster's windscreen frame is large and strong enough to sustain a roll-over. Its interior is neat, logical and efficient. There's even a button to manually raise the Boxster's pop-up rear spoiler - if the auto function that raises it at 90km/h isn't enough.

Both run similar drivetrains: flat six-cylinders through five-speed gearboxes. But while the Speedster's rear engine hangs way out back behind the rear wheels, the Boxster's mid-engine slots in between the rear wheels and driver. Handling and balance is the main difference there.

As a big sign of development, the Boxster's 176kW 2.7-litre actually outpowers the Speedster's older but larger 172kW 3.2-litre by two per cent.

For a more comparable evolution of Porsche capacity and power, the higher-spec 3.2-litre from the Boxster S produces 206kW, equating to a 20 per cent increase over Speedster. Not that it's east to see the Boxster's engine though: its mid-engine location means the only things visible in the 'boot' are the water and oil filler caps.

And despite its heavier weight, the Boxster outperforms the Speedster too. Porsche claims the Speedster does 0-100km/h in 6.1 seconds, while the Boxster is said to manage it in 6.2. We tested both whether due to 16 years of age or mechanical sympathy, the newer Boxster is marginally but noticeably swifter than the Speedster. It proved half a second faster to 100km/h and extended the lead over the quarter-mile.

The Speedster has impressive top end that's almost as good as its newer sibling, but when it comes down to the bottom line, Boxster is faster, smoother, more responsive and urgent from idle to redline. But while you drive the Boxster, you 'experience' the Speedster.

The Speedster has one clear advantage: it sounds better, the older air-cooler engine sounding more distant, but with a mechanical thrashing that's way more musical than the refined, muffled Boxster, whose sound is more akin to Darth Vader on a Stairmaster.

But it's the handling comparison that shows the largest improvement. Sixteen years of chassis, suspension, ABS brake and tyre development, not to mention the better balance of the mid-engine layout, makes the Boxster (almost incomparably) quicker in any situation but heavy traffic. The Boxster is not only faster through just about any corner, but it's more confidence inspiring, and true to modern technology, actually feels easier doing it.

So the new Boxster is faster, more comfortable, better equipped and safer than the old Speedster, but the $100,000 question remains: is it a better buy?

A new Boxster retails for $107,400. Its resale value is strong, but after just three years, it drops to around $70,000, or a $12,000 loss ever year.

The Speedster sold new in 1989 for around $130,000, but its rarity and exclusivity has seen it maintain resale values up to $100,000. Tough choice.

At least we can dream about the pleasure of facing such a dilemma...

MY CAR
The red Porsche 911 Speedster is owned by Chris Kalpage, a solicitor and car nut who bought it almost a year ago with just 37,000km. Having racked up almost 10,000km in that time, he uses the Speedster every week and true to the Speedster spirit, detests a raised roof. So after his drive of the new model, would he buy a Boxster?

"I do appreciate the Boxster, but I don't think I'd buy one. The engine feels like a motorbike low down, more responsive and really nice. But it doesn't have the top-end rush I'd hope for. It feels just like my Speedster. I like the quirkiness of my car, it's not as sanitised and it'll hold its value."

TECH CHECK:

1989 PORSCHE SPEEDSTER
Price: Approx $100,000
Engine: 3.2-litre rear-mount flat-six
Power: 172kW @ 5900rpm
Weight: 1220kg
0-100km/h: 6.1 seconds (claimed)
0-400m: 15.3 @ 151km/h (tested)

2005 PORSCHE BOXSTER
Price: $107,400
Engine: 2.7-litre mid-mount flat-six
Power: 176kW @ 6400rpm
Weight: 1290kg
0-100km/h: 6.2 seconds (claimed)
0-400m: 14.5 @ 158km/h (tested)