My 2 cents, I would say the p/o has replaced the boot himself and used a cheap band. You can buy banding kits off eBay which includes a tool and the bands - I have had the same issue before with my lifted 4x4 stretching the bands under articulation. The solution, and I kid you not is a big zip tie.

Porsche guys actually swear by zip ties so it's not as crazy as you think. If the boot shows no sign of perishing, I would cut the existing band off, roll the boot back and degrease everything. Rotate, degrease. Then repack the joint and roll the boot back on and either use a banding tool, or try the zip tie method.

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2005 3.0d Sport - Sapphire Black
Engine : Bluefin Superchip Tune,
Wheels & Sus: Style 168s (10.5s all round), H&R RDA Spacers, Bilstein B12, Eibach 40mm drop, Whiteline RSB
Exterior: Le Mans flares, 4.6is kit F&R
Interior: Dynavin N6, Blackvue DR650 dash cams

My Build Thread: http://www.xoutpost.com/bmw-sav-foru...run-sheet.html