Yeah, I already know the answer to this question, but still have to post it for the experts. Is a 100k+ mileage 2004 CTT with full maintenance history worth it at basically a price just shy of $20k?
It's actually a difficult question to answer.
If the maintenance history is totally up to date and it has a relatively uneventful history, then it may be one of the good 2004s. What is the date of manufacture? Were the coolant pipes replaced? What about the cardan shaft and coils? If all of these issues were addressed and the vehicle is still going strong, then you might look at it seriously.
The thing that you need to consider is that even though the selling price is low, the repair bills won't be low. Major engine work and/or transmission work is very expensive for a vehicle like this.
You might consider buying a newer Cayenne or one with a warranty that costs you a little more up front, but will probably cost you less in repair bills down the road.
If you're the adventurous type, then you could just take the risk and buy this one. What's your tolerance for risk?