assumptions are a bitch aren't they.....

Well,

I think I just recently went through a very similar situation, so I'll chime in a bit.

I've thought about trading my 07 Camry XLE for half a year. I bought it brand new (well my dad did when I just got in post secondary). I made sure my dad was okay for me to trade it before I did.

So I finally decided to (2 weeks ago) trade my Camry for my friends s2000. He took my Camry to Calgary for school, and I plan on driving it this winter until I save up more money for a winter beater. (I was stupid in buying me some Ohlin DFVs... :banghead:) This is my last semester in Uni. I also work part time as a Wedding Videographer so I do have some income to spend.

For my trade, I got money on top, which I used to buy hard top and will be using the rest on buying winter tires and a car canopy (no garage), AND I'm not paying monthly payments as I already paid off my old car.

I got 2-3.5k on top of trade-in value (12000-13500) and I bought the MINT and Low K (76k) s2000 at trade in value. (12000). The deal made sense to me because my Camry was depreciating very quickly and will continue to do so, (6 months ago dealer quoted 14500, it dropped 1.5k in half a year) where as the S2000's been selling for quite a bit. I also couldn't even sell my Camry at 16000. It sat for a good couple weeks without any serious bite other than tire kickers.

I did spend quite a big chunk of my savings to fit the s2000 for the winter though, and I'm still kind of scared about crashing it because my AP1 is notoriously tail happy.

I haven't regretted my decision as I've loved the two weeks I've driven it AND I made quite a few friends at S2ki who've been very helpful. However I'm also ready to bear the consequences should things go south. I'm looking to do a bit more PT work to save up more money just incase something happens. (taking the bus this entire semester would be one if I decide it's still to dangerous even on blizzaks). So you'll have to be prepared for things as such when you purchase a RAW sports car.

One thing I know is that if I kept my Camry I'll always have the itch and distraction of looking for another car. But now I'm very satisfied and know what it's like to own a cool sports car and I plan to keep this car for as long as I can. I've also learnt the process of buying another car (I replaced all fluids + sparkplugs...etc right after buying the s2k)

Personally, the s2000 made me into a better driver too, and I felt good because I got something I wanted, at the manageable budget I envisioned.

As long as you KNOW and are prepared for what may lie ahead, I personally believe that it's not too bad of an idea.

Best,

and 4 days later..

2000 S2000 AP1: 77XXXKM Red Leather - $20500 (Richmond)

http://i.imgur.com/hwyGB.gif

^LOL!

Maybe he got the car @ 0% financing? Why would you put $ down if it's 0% you dumb s*it?

Wow, you sure make a compelling argument to get an S2000. Also, nice ad.

$20500 for a MY00 S2000 with 77k :fuckthatshit:

even with the addition of replica hardtop and rebuilt ohlin coilovers

http://i.imgur.com/RfUgl.gif

Lol that's what I did with my car. It was 0% for 4 years so why not.

It's fine if you're keeping the car long enough to pay it off. But if you sell it after a year or two you likely owe more on the car than what you could sell it for

He might be able to find a better deal during the winter; in the spring sellers will probably jack-up the prices.

Snap-oversteer won't be a problem if the op is looking for an '06+ S2k.

^op already bought a tsx

LOL, so extreme, 2 seater, rwd convertible to 4 seater fwd sedan. I hope he enjoys the car!

Yea, sorry I didn't do an update. During my search for an s2000, I was looking at a few ap1s and looked at the frs and g37s/370s. A clean ap2 was hard to come by and it was in the price range of a frs, and I wasn't really into the whole soft top thing so then I would need another 3000 for a hard top, the frs/g37/370z were my next choices but a little out of my price range, then I saw a black 2010 v6 tsx on way to school. Went and checked it out the next day and I felt it suited me best because im not a small guy at all. Then I put the fun factor into consideration, and decided to just take PRS this fall and if I enjoy riding buy a bike. I figured it would be best to have practical for school/work days and when summer comes along I will have something impractical for the fun I was missing out on with my civic. I am very happy with my choice, I finally don't feel too big for my car, and it is a very fun car to drive with its 281hp.

Name calling is so childish, seriously 'dumb shit' - its not even very imaginative or funny

Anyway, let's say you finance at 0%, I agree, you would not want to ur anything down, from a financing point of view

But, and a really big but, when you finance at zero apr, chances are you are paying a higher capital amount than, say, if you paid with cash - in this day and age, cash is king, you can negotiate way more with a cash purchase. Before the global financial crisis, quite the opposite was true, you were in a better position if you were financing, so people like me who buy their cars with cash (and not because I'm a drug dealer or anything like that) were in a worse off situation.

So, please, tell me if I'm wrong, but recently a family member bought a car with cash (a learned trait) for just shy of 20% off, now granted they have bought 3 cars from same dealership in last 7 yrs, but still, would that person have saved that money if they were financing it at 0% - what would you rather have, pay 80k now with cash or 100k at 0% financing? I'd rather pay 80k, personally (just as an example)

Or maybe I'm just a dumb shit who knows nothing about finance

OP, if you don't mind sharing, what did you end up getting back for your Civic?

Cash incentives are minimal on Civics/Corollas. The Civic is a $20k car, not a $100k car. This is car enthusiast site, not a 'financial lounge' per se.

In that case you're not negotiating right, I've bought for me and others, cars in and around that region with big cash incentives, crv's with $5 k off for cash

Ironic, I'm the dumb shit, but you're the one paying too much for your corolla/civic and not understanding finance

This came to mind while reading this thread