Buying a Porsche Cayman GT4: 981 and 718 compared

Buying a Porsche Cayman GT4: 981 and 718 compared

The Cayman GT4 is the car Porsche kept trying not to build. A mid-engined, naturally aspirated, manual-gearbox, motorsport-bred coupe for less money than a 911 - on paper it should never have been sanctioned, and Porsche capped production accordingly. The result is the sharpest driver's car to wear the Stuttgart badge this side of a GT3, and the two generations each do it differently.

Two distinct versions exist: the 981 GT4 (2015 to 2016) and the 718 GT4 (2020 to 2023). They look similar at a glance and both sing to the redline, but the differences between them are real and they are priced accordingly. Which one you buy matters.

The 981 GT4 (2015 to 2016): the first one

The first GT4 arrived in 2015 and immediately made a 911 look a silly thing to spend more money on. It used a detuned 3.8-litre Carrera S engine (385 hp), a six-speed manual from the 911 GT3, and a mechanical locking diff, all wrapped in the Cayman's beautifully balanced mid-engined chassis. Zero to sixty in around 4.4 seconds and a 183 mph top end.

The pros. It is the purer of the two. The 3.8 is a genuine flat-six with the characteristic bark, the car weighs less than the 718, and the steering is uncorrupted by the later car's tuning. The chassis is sublime - flat, communicative, and adjustable on the limit. It feels like a proper motorsport car detuned for the road, and it is the last GT4 with the classic 981 Cayman styling.

The cons. The gearing is the headline complaint. Porsche gave the 981 a gearbox with deliberately long ratios to keep it slower than the 911, so first is tall and you run out of revs on tight roundabouts. Many owners swap the final drive for a shorter ratio - it transforms the car but it costs money. The 3.8 is the older MA1 unit, which means no direct injection and a thirst to match, and the spec was deliberately held back to protect the 911: no Sport Chrono as standard, no PASM unless it was optioned.

The 718 GT4 (2020 to 2023): the fix

Porsche relented with the 718. The new car got a proper 4.0-litre naturally aspirated flat-six (420 hp), derived from the GT3 engine with a simpler single-throttle intake, and a shorter-ratio six-speed manual as standard. Zero to sixty in 4.3 seconds and a 188 mph top end. Crucially, Porsche stopped trying to make it slower than the 911.

The pros. The 4.0 is the reason to buy one. It revs to 8,000 rpm, sounds better than the 3.8, and the gearing finally lets you use it. The chassis is more GT3 than the old car - wider track, GT3 uprights and brakes, a more resolved rear end. It is the better tool, and the later car is the more usable everyday proposition with a quieter cabin and a better ride.

The cons. It is heavier, and you can feel it. The 718's electromechanical steering is good but not as organic as the 981's. The 4.0 engine has a known lifter issue at low revs (see below), and the later car commands a premium that the 981 does not. Some also feel the 718 face is more generic - the shared 718 styling dilutes the GT4's identity next to the 981, which wears the last of the truly distinctive Cayman looks.

Which one to buy

If you want the raw, pure, lightweight experience and you are happy to gear-swap the ratios, the 981 is the one. It is also the cheaper entry now, though prices are firming as people realise how few were built (around 2,500 worldwide).

If you want the engine, the gearing and the more resolved chassis, and you can stomach the premium, the 718 is the better car. It is what the GT4 should always have been.

Both will appreciate. The 981 is rarer; the 718 is better. There is no wrong answer, but do not buy either without the checks below.

What to look for

Engine

On the 981 (3.8 MA1): the main worries are bore scoring and the intermediate shaft - less common than the internet suggests but not impossible on a hard-driven example. Listen for cold-start top-end rattle, check for mayo under the oil cap, and look at the service history for regular oil changes at 12 months or 10,000 miles, not the official two-year interval. The 981 engine is generally robust if maintained, fragile if not.

On the 718 (4.0): the headline issue is the cylinder-head lifter tick at low revs and when cold. Porsche released an updated lifter design and many cars have been fixed under warranty or goodwill, but some have not - check the service history for a lifter replacement or a note that the tick was inspected and dismissed. The 4.0 is otherwise the best naturally aspirated flat-six Porsche has built for the road, but it demands clean oil. Insist on annual changes.

On both, check for any trace of coolant loss (heat-exchanger failures), check the sump for weeps, and make sure the car has been run properly and not just polished. A GT4 that has never been revved is not a badge of care - it is a warning.

Gearbox

The manual is robust on both cars, but the 981's long ratios are a known quantity, not a fault. What you are checking for is second-gear crunch when cold (synchro wear) and any clutch judder. Clutch life on these cars is sensitive to how they have been driven - a tracked car with the original clutch at 30,000 miles is a flag. The 718's clutch is the same family; check the bite point and the hydraulics.

Chassis, brakes and suspension

Both cars run PCCB ceramic brakes as standard on the 718 (optional on the 981). Check disc life carefully - ceramics are expensive to replace, and scored or cracked discs are a four-figure bill per corner. If the car has steel brakes, the discs still wear but the bill is sane. Look for uneven pad wear (sticking calipers), check the PASM dampers for weeping, and inspect the top mounts. The suspension is GT3-derived and takes a beating on track.

Body and history

These are not cars that rot, but they are cars that get crashed. Check the front splitter for scuffs and repairs, the rear deck for stress cracks around the spoiler mounts, and the sills for jacking damage. A full Porsche service history matters less than a complete, honest history - a main-agent stamp book with gaps is worse than a specialist-maintained car with every invoice. Ask about track use openly; a car that has been tracked properly and maintained accordingly is not a problem. A car that has been tracked and hidden is.

Desirable colours

The 981 looks best in the vivid shades: Carmine Red, Lava Orange, Guards Red and the rare Acid Blue. Sapphire Blue and Agate Grey are the safe choices and trade at a slight discount. White works on the 718 but washes out the GT4 detailing on the 981.

The 718 carries the bright colours well too - GT Silver, Lava Orange and Python Yellow are the ones to find. Sepang and Shark Blue are the 718-era colours and they suit the car. Black is the spec to avoid on both - it hides every line and trades softest.

Spec to chase: Sport Chrono (981), PASM, the Sport Exhaust, and lightweight bucket seats. Spec to avoid on a 981: a car with no Sport Chrono or PASM will always trade below a fully-specced example and is a less complete car to drive.

Spec to avoid

A 981 without Sport Chrono or PASM is a compromised car that will always trade below a fully-specced example. A 718 without bucket seats is not a deal-breaker but it is a flag for a less committed first owner. Avoid any example with accident-damage history, any car with a lifter tick that has not been investigated, and any car with a service history that is main-agent-only but incomplete. The "always serviced at Porsche, never missed" claim with no invoices is the one to walk from.

Buying it: the process

Buy with patience. The right GT4 is worth waiting for; the wrong one will cost you the saving twice over. Do not buy sight unseen. Do not trust a seller's description of the lifter tick as "normal Porsche character" without a specialist's view. Do not buy from a dealer who will not let you take it to an independent for a pre-purchase inspection.

The process: shortlist three, PPI the best one, walk if the PPI throws up anything structural, and negotiate hard on the back of any lifter work or clutch life. Budget for a major service, a geometry check and possibly a clutch in year one. Then drive it properly - a GT4 that is never revved is a waste of the engine that defines it.

The specialists

For the real-world checks before you commit, speak to Copse Automotive. They are independent Porsche specialists based in Surrey - road and motorsport, straight-talking - and they know the GT4 inside out: the 981's gearing, the 718's lifters, the PCCB question and the chassis foibles. A pre-purchase inspection or a phone call with them before you travel is the cheapest insurance you will buy on a Cayman GT4 purchase.