964 vs 993: Which Should You Buy?

The 964 (1989–1994) and 993 (1994–1998) are the two newest air-cooled 911 generations, and they're the ones most cross-shopped against each other — both modern enough to use as a semi-regular driver, both still carrying the flat-six sound and feel that defines the platform. But they're different cars underneath, and the differences matter more than the four-year production gap between them suggests.

The 964 was Porsche's first ground-up reengineering of the 911 since 1963. Coil springs replaced the torsion-bar suspension every 911 before it had used, power steering and ABS became standard, and the Carrera 4 introduced all-wheel drive to the lineup for the first time. It's a huge list of changes wrapped in a body that, at a glance, looks almost identical to the 3.2 Carrera it replaced — which is part of why the 964 spent years being undervalued relative to what it actually offers.

The 993 kept the 964's basic mechanical formula but replaced its rear suspension entirely with a new multi-link setup, which is the single biggest reason enthusiasts talk about the 993 the way they do. It largely eliminated the lift-throttle oversteer that had characterized every 911 before it, without dulling the steering feel or turn-in that make a 911 feel like a 911. It's also, unavoidably, the last air-cooled 911 before Porsche switched to water cooling in 1999 — a "last of the line" status that's been driving a real, persistent price premium for years.

That premium shows up clearly in the numbers. Over the last 12 months, 911Comps has tracked 964 sales averaging around $193,000 against 993 sales averaging around $174,000 — meaning the 964 has actually been trading slightly higher on average recently, which surprises people expecting the 993's reputation to translate directly into a higher price. Some of that gap is model mix (964 Turbos and RS variants pull the 964 average up; the 993 sample includes more high-volume Carrera coupes), but it's a useful reminder that "more desirable generation" and "more expensive on average right now" aren't always the same thing.

Both generations show the same pattern on transmission: manual cars command a large, consistent premium over Tiptronic automatics. On 993s specifically, recent manual sales have averaged roughly $180,000 versus about $79,000 for Tiptronic — more than double. The 964 shows a similar gap, though with a much smaller Tiptronic sample size to draw from. If you want the classic three-pedal experience, budget accordingly; if you're comfortable with an automatic, both generations offer a real discount for it.

Which one should you actually buy? If you want the most modern-feeling classic 911 — the one that best rewards being driven hard on a real road — the 993's rear suspension makes a genuine, noticeable difference, and the "last air-cooled 911" story isn't just marketing. If you want all-wheel-drive traction, a wider range of body styles and specialty variants to choose from, or simply a strong car at a slightly better relative value than the 993's reputation might suggest, the 964 deserves a longer look than it usually gets. Neither is the wrong answer; they're both excellent cars solving slightly different problems.