IMHO - 73-74 2.0 is best, &
get the best which you can afford!
Also, if you're getting a driver & not a show car, they will drive some distance if you find a nice one out of your area! ...some have even been known to drive from CA to your area!
...biggest problem is finding someone qualified to check it for you away from your home base.
But even down here at sea level on the left coast, the performance difference between the 1.7 & 2L is marked, as my friends with 1.7s back in the day said after driving my 73 2L vs. their 70 & 72 1.7s!
The 74 2L will have similar performance to the 73, with minor engine/EFI mods., but not all came with the Appearance & Performance Groups' options, since they were all/most made "extra cost options" early in the 74 MY (although according to Steve Gaglione here, they may have started charging for them late in the 73 MY).
This was to offset their foreign exchange rate losses on the Deutsche Mark to Dollar, as the latter devalued in the early/mid 1970's. It's also why the 914 was so expensive here relative to its competitors from GB, Italy, Japan, etc.
Whereas, the 73 MY 2Ls will usually come "fully loaded" with the Appearance Group (chrome bumpers, for lights, dual horns, black vinyl covered roll bar, center console/gauges, hinged padded cover/center storage/seat, pile carpet, etc.) & Performance Group (F&R Sway Bars, & 5 {not 4} Fuchs 2L Lightweight Forged Alloy Wheels/incl. spare).
Well, at least that was the way Porsche marketed them in the initial year (see ad below), with all those 1.7 options "included" on the 2L to justify its $5k+ price! ...many did not get sold new that way by the dealers, and many more at this point won't due to modifications. Sometimes prior owners will have changed to other wheels which they thought "looked better" - but usually had less strength & weighed more than the Fuchs, or other more extensive "owner mods" over the years.
Also, the Porsche Dealers would very often "steal" the spare Fuchs wheels (or full set in my case
) to sell at a profit (see "OE wheels & tires" under Originality section for details & my value math on this) - replacing the spare with a steel wheel & the other 4 with cheaper alloys (4 Rivieras in my case), and sometimes take the fog lights &/or center console/gauges off to transplant to another 914 (usually a 1.7 lacking same) to make a buck at no cost (on mine both had been "stripped"
).
I went thru the same conundrum almost 35 years ago when looking to buy my early-73 MY 2L, versus the less expensive earlier 70-74 1.7s/1.8s & vs. a new 75-76 2L or 1.8. Unfortunately being fresh out of college & cash strapped, the new option was not feasible, plus I didn't want the watered down & less powerful 2L nor 1.8L, heavier with uglier bumpers (to my eyes) & gaudy plaid interiors at hugely inflated prices equal to a nice older used 911.
After a parade of various used 914 1.7s to be checked out by my German born & Porsche Factory trained on 914s mechanic, he checked out the 2L which I bought in Dec. 75, saying (add your own thick German accent):
"Dom, get dis vun, don't even mess vit dose udders! Dose 1.7s veren't vorth anyding unt ver wary veak running. Dis is da strongest running 2.0 dat I've seen. You'll be better off in de lonk run vit dis vun, efen if you have to pay more. Sure it's missing dose vancy veels, vog lights unt console - but just talk him down on de price unt get dem later!"Good advice today as well! Check out the cars mechanically & all the usual rust spots, general condition, etc. - then have a trusted 914 mechanic or officinado in your area do a thorough check out on the ones which make your short list. I would say to also look for one where the original paint & interior colors have not been changed, & still has the OE engine & transaxle case numbers (esp. engine GA# if either), so you maintain its best value over the long run.
I stretched my budget up from $2500-3500 in the day, to buy my 73 2L at the $4500 I talked them down to from $4700-5000 asking, then ate lotsa PBJ & Mac-n-cheese for awhile until raises caught up with my payments! But I got 130k+ miles of enjoyment out of that car as my daily driver & only car from 12/75 - 5/85, & will again when I'm done repairing & restoring it after "holding down blocks" in my SoCal garage since 5/85. So get as much 914-2.0 as you can afford!
Here's a Dec. 1972 magazine ad for the then new "914S" - before Porsche made the USA affiliate drop the "S" & call it 914-2.0 - interestingly in GB & Australia they allowed them to call it "914SC" - although neither were ever badged as such on the cars (only "914 2.0").
Click to view attachmentClick to view attachmentHope this helps!