$17k for a 13yr old Honda - Crazy?
 

Let me preface this by saying that an age of a car does not always dictate value and price. I get it (before the Honda fan boys jump on me).

Getting straight to the point - I've always had a soft spot for the S2000. Something about driving my buddy's AP1 SSM and rowing the gears to 9000 registered with me.

This summer I am seriously considering purchasing one. However, I've noticed that they hold their value quite well. Fluctuates between 15-19 for a clean AP1 with about 100,000 kms and no stories attached. Yes, you can probably find a 2000 with high clicks and bodykit for $10k on Kingsway.

Here's are my main issues preventing me from walking down to the bank:

1. The biggest one. I'd have to resort to my LOC which is at 5%. Estimate interest would be about $1,700. I plan to pay it off in 2 years. Probably my biggest gripe since I've always purchased a car with cash. Not happening this time as I just purchased a home. Hate paying interest.

2. Kind of related to the first point. Other option would be to finance a new car with a low interest rate. Wouldn't this be more practical and a wiser use of funds?

3. Other cars on my used car short list would include a Genesis coupe, 350z, IS 250. Not looking for FWD.

This will be strictly a summer car in addition to my DC5 with the usual bolt ons.

SO my question to the guys with S2K's, did you guys have any reservations when buying your S? FWIW, I'm looking at a NFR 2001 with 100,000 and stock. Clean history.

just buy one from the states for less money.

local guys think their s2000's are made of gold.

sounds like you wanted a 50:50 front/rear balanced yet raw sports car for a while now which to this day is still sort of unmatched in its market segment...so yeah you can expect its value to hold well

you don't see people scoffing at hobbyists willing to pay good money for GT and NSX...yet they are just aged Fords and Hondas.

and it's not fair to compare values for local cars vs US imports...take into account of all the fees, rarity and the fact one left the lot 30% cheaper than its counterpart

sorry embed is a bit wonky... go to 13:50 for the closing comments

supply and demand.

things are worth as much as someone is willing to pay.

agree with above though. if you want something cheaper getting it from over the boarder is your best bet but then you have to worry about getting it inspected and registered.

Can't answer your financial questions but I had an S2000 and it was a fantastic car. The nice weather recently makes me miss it even more.

Find a good one and enjoy it.

If you are getting a summer only car, financing a new one is not the wisest use of funds, probably the worst.
If you are set on an AP1 I think it would be wise to wait for a 2002-2003.
If you want to try a decent V6 get the 350Z
Talk to your bank, you can reduce your LOC to 3.5% or less.

I would get another S2000 in a heartbeat


Awesome car, kind of weak diffs though. Any actual hard driving will destroy the diff.

Very fun car, I have noticed prices have been creeping up over the past few years. Lot's of S2000's with history, very few clean ones left. The US has lots of rebuilds, and the clean low milage ones are not that much cheaper compared to local, but there is more of a selection across the border though. There is a nice white 04 with beige interior 2004 Honda S2000 Grand Prix White 46k miles but again it is not cheap, white seems to be the most desired color. A good time to buy an S is in the winter prices drop due to poor weather.

I would not hesitate to get another S2000 down the road again. It was sad selling her to get a bigger car for the family.

I rarely see any clean S2000 locally though.

No, cause a 20 Yr old Toyota can run 25k or more..lol

...considering most NSXs are 23 years old and selling for $30K+, it's not crazy.

Definitely wouldn't finance, that would be the worst financial decision.
You mentioned you don't like paying interest, but you just bought a house! Do you not have a mortgage?

If it's a toy, I would save up enough to buy it outright, but that's just me. You don't know when your income level will change.

:thumbsup:
http://cdn.memegenerator.net/instanc...x/40089637.jpg

I hate paying interest as well but good luck buying a house cash. Anyone whose only debt is their home is doing quite well.

Since you are planning on financing an AP1 and paying it off in 2 years, I think a better suggestion would be to just save your pennies and buy out an AP2 all in one go 2 years later. In nearly every single way, the AP2 is a superior car over the AP1. Best of all, this plan of attack is even wallet friendly.

You say your two options are buying the car on your LOC, or buying a new one outright.. I would do neither. You're incurring a ton of extra interest, and it's just for your car that you'll insure for 2.5 months out of the year.

If you MUST purchase an S2K, at least wait* until you get a good deal so you won't lose in depreciation AND interest.

*waiting for the right car, in my mind means at least 6 months of searching

99 jdm models are importable now, if you don't mind rhd you might be able to save some cash. Looks like most of them are under 1m yen which should be comfortably under 17 landed

if it costs the same as USDMs that's way too much of an hassle unless having special exterior colour, slightly higher compression/hp/tq is worth the trade up of RHD
only the JDM AP2 is neat and worthy of importing imo because it retains the rev happy F20C

Get the AP1 with the 9000 redline and drive the balls off it!!!


Good god when my S2000 was supercharged and putting out 357 rwhp it was driving a dream... so much fun, off the charts!!!

I'm kind of in the same boat, but I won't be making a decision until next year, probably. I'm stuck between the S2K, RX8, and an S15 right now. Love and hate things about all 3 plus we're buying a new house this year ... Hoping I can talk her into leaving everything alone ... Been wanting a new car for a long ass time (only good thing about a Civic is the fuel economy) and she's got the last 2 new cars ...

Thanks for the feedback guys.

I don't classify a mortgage and car debt in the same category for many reasons. Reasons that I'm not going to get into but I think most here would get it.

Thought about it some more and I guess my biggest gripe, would be the fact that I am somewhat over paying for a car that is in high demand. Honestly, sounds silly, but that's what is holding me back. That and a 2003 AP1 is hard to find in decent shape. Been looking for 2 summers now on and off. It's always been a car that I've searched in Craigs.

Some good advice here though - think I'll just wait until I have enough cash. Not too far off and hopefully in few years, the prices are more reasonable. Was really hoping to make a stupid decision lol
Stupid commision cheque caused all this!! At least I have KPRO to play with in the short term.

The RX8 is crazy affordable. Up front. If I was more mechanically inclined, I'd consider it as well.

That's a great vid. Gorgeous S2k. I'd pick the S2k, BRZ and RX8 in that order.

Yes, I'd probably need to get a secured LOC if I made the move.

I bought my S2000 just before the season for less than half of that in the states, the car has bent valves, with a mint interior + exterior, the only downside is the fees & taxes that tag along for the ride.

For 17k, I wouldn't even consider an S2K, that's M3, STI, and cars that are newer and higher class territory.

Hmm.. curious about this comment. What do you mean by, 'higher class'?
I don't think that part crossed my mind. You guys would put a STI or M3 above the S in terms of, 'Class'? Myself, I'd lump them together.

S2000 is more of a sports car than an STI or even the M3.

It gets close with the M3 though but that 10 year old BMW upkeep is not fun. The S2000 will last forever if you take care of it. Super simple and easy to work on.

STI is probably a bad example, the yester year STI's have just as spartan of an interior as the s2k haha.

It's a really objective opinion, I think the S2000 is an entry level sports car with a high mod capability, while cars like 350z's, E46 M3's, and E90/92 335i's have a stronger foundation to start with, but a higher maintenance cost with a very costly mod budget too.

Don't get me wrong, an amuse GT1 S2k is my dream car, and I'd much rather have a low maintenance vehicle with a forever running engine, than a hefty twin turbo inline 6 that costs a lot more