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Seems like most things are hit on the head here. Long maintenance list can be a little bit of both, if it was a bad car and didn't get maintained for a year or two, you may find one invoice that was its first pit stop at the local Porsche indy and the new owner replaced everything. If you can see that every time it went for an oil change (along the likings) and other things were replaced, could be the owner was very religious about taking care of the issues as they came up. The best part about service records is the mileage and date on when parts were replaced, if the previous owner has a clutch invoice from a year ago, one less thing you have to worry about right off the bat unless it has been abused.
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