all, i am planning on buying a my04 s2k from someone, here are the facts
asking 29k obo
my04 with 9k miles.
the owner is selling it as a private party, kbb has it at 26,700, and edmunds has it for 25,700. i have two questions that im sure some experienced car buyers can help me out, this will be my first car i buy and want to know exactly how to have the smoothest transaction.

one: how much should i offer
two: the owner mentioned that he is currently leasing the vehicle, (this part confused me i dont see how he can sell it, if he does not own it?)

any advice or tips would be helpful, i am sorry if this sounds like a newbie question but i figured the members on here would give me the answers i am looking for.

 

I just bought an 04 S2k for 27,400. I would start at KBB and go from there. It will be worth it.

 

offer bluebook........

It depends on how bad you want the car though. A "good deal" is determined on what your willing to pay.

And YES you can sell a leased vehicle.

 

check some of the threads to see what others have payed for their cars. Also look in the for sale forum for reference. Most s2ks are selling below KBB...the edmunds price seems much more realistic to me.

 

Just a guess, but if he's asking $29K, he's probably not willing or able to drop much in price.

I'm also not sure how "smooth" a transaction it will be if he's leasing it.

 

29k is quite high from what i've read about around here. Maybe we are all just better bargain hunters? My stratagy was to look around for what similar cars with similar miles were selling for at the time. The blue book is a good estimate but it can be a bit rough. I like to do my own research and see what seems realistic. Like the above poster said, a good deal depends on how much you want it. Maybe paying more is worth it because you really want the car, you know the guy, know its a well cared for car etc. Intangibles can make up for what you "overpaid" by.

 

also, you can buy a new one right now for 30k...you might want to use that as a bargaining point...but as Allkingz said if he is leasing he might not have that much room...depending on his buy out price

 

$25K for an '04 w/15k miles in excellent condition with only one mod (factory lip spoiler @ $500) w/transferrable Honda 100k mile extended service agreement / Cross Country Motor Club that has a retail value of $1,195.

Opted for this particular deal because it was local (fewer risks/hassles & no shipping or travel expense), private one-owner car (full history & no sales tax), and factored in the value of the 100k extended service agreement since we plan to hold onto the car well beyond the basic warranty period and will not be making any modifications or autocrossing (it's the wife's car).

Having spent a week doing research on the S2k pricing, $24k - $27k seems to be the range on pre-owned, the variable being the mileage. New old stock '04's still in inventory seem to be going for $29 - $30.

 

I paid $500 under KBB Private party excellent condition for a MY00 w/ spoiler and titanium shiftknob.