There's a luxury sports car you can buy that's cheaper than a brand-new Toyota Camry

Hardcore car fans will know it as the Porsche 981, whereas to most people, it’s the Porsche Cayman and Boxster, depending on whether it’s a coupe or a convertible.

Tomato-tomato, because what matters is that this sports car offers great value in the pre-owned market.

It basically costs the same as a new Toyota Camry.

But there’s something that would-be buyers have to bear in mind.

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Welcome to the wonderful and confusing world of Porsche’s internal naming conventions

With most brands, you’ve got two names for every model.

There’s the internal codename that people don’t know or don’t care about, and then there’s the name you read in the brochure.

For whatever reason, Porsche models are often known by their internal codenames.

The Porsche 911 has been called the ‘911’ since its inception, but collectors and fans will tell you all about the differences between, say, the 997 and the 992.

This is amusing in several ways, starting with the fact that there seems to be no rhyme or reason to these names.

The 997, for example, actually precedes the 992.

The 997 was the 911 from roughly two decades ago (the one that Elon Musk drove), while the 992 is the current generation.

The same goes for the car you see here.

Back when it was new, you’d have found it in the showroom with a little sticker next to it that read ‘Porsche Cayman‘ if it was the coupe variant, or ‘Boxster’ if it was a convertible.

Fans call it the Porsche 981.

Why the Porsche 981 is a great deal today

The Boxster was first introduced in 1996, followed by the Porsche Cayman – the coupe variant – around 10 years later.

There have been four generations so far (excluding the upcoming one), and they’ve been known as 986, 987, 981, and… 718.

Naming anomalies aside (718 is actually a reference to the race car that won the Targa Florio, an iconic Italian race, in the 1960s), these cars are quite popular in the pre-owned market.

And the 981 (2012-2016) is the one people are after these days.

It’s modern enough to be usable every day, but it’s vintage enough to be attainable.

In the US, the average selling price for a 981 ranges from $30,000 to $40,000, which is basically the same as a new Toyota Camry.

You can spend more than that, of course, but only if you’re after the range-topping Spyder or GT4 variants.

There’s an inevitable catch, though.

While these cars aren’t considered unreliable – they’re still Porsches.

That means that maintenance – including regular services – will have Porsche-style price tags attached to them.

Buyer beware.