Hi all,
As some of you know, I'm hoping to buy an S2000 relatively soon. If I end up getting anything, it will most likely be a MY00. I understand the benefits of a MY02-03 (although I believe it was Rob who told me something about a bolt resticting oil flow than I did not know about?) but then again, if money wasn't a factor, I would have had an 02 sitting in my driveway months ago . Any car worth more than 10k would have to be financed, and I think it may be a little young in life to start all of that, but each progressing day makes me want the car that much more. The reason for this post is to ask for your $.02 on the matter, since you all have more experience with the car, as well as in life. Any thoughts, considerations, or suggestions would be greatly appreciated.

Also, would the winter months produce a noteworthy drop in S2000 value?


-Doug

 

Here is a weird little thought from out in left field...

You say anything over $10k would have to be financed and you think maybe you are too young to start that. I don't know your age or your work/financial situation, nor do I need to, however, you may want to consider a small loan in addition to the $10k you can pay for in cash. If you have the work/financial situation to take out a small loan you can not only get more car, you can also start to build yourself a good credit rating.

 

Rocket

I happen to agree with you. I think you are way too young to take on debt to buy a car. There are still many more important things that you will have to pay for including your education, for you to borrow money now. You have plenty of time to get the car of your dreams, but you may not get another chance at an education and a good start at a career. Plan wisely.

That said, I would try to buy a MY02 or younger. The items like the glass rear window make a difference. The wise move may very well be to wait a while longer until you can afford it or until prices drop.

There were a few issues with the earlier model years such as the banjo bolt in the engine that were resolved by MY02. If, however, you do buy an earlier model you should make sure all of the TSBs were attended to.

As you look keep posting to this thread and we will be glad to share any knowledge that we have.

By the way, I was just joking, the white cars are not really the slowest. But, it is a well known fact that the Sebring Silvers are the fastest, just ask anyone who owns one.

Good luck. Stay in touch.

 

I agree with what Ralper said. I'm not a huge fan of financing used cars. If something goes wrong then you're on the hook for the cash and have no wheels. Good luck.

 

with the guys on this one. I bought my S in February -- not prime time for convertibles, so I got a nice buy pricewise. MY01s are selling now for just a little more than I paid for mine 18 months ago. Your local honda dealer can certainly run the VIN of any car you buy to determine if all the TSB repairs have been done and any recalls have been satisfied. As much as I know you'd love to have one of the cars, it would serve you well at your age to bide your time, save your money and not indebt yourself. It was great to meet you and I look forward to the time when we see you at a meet.

 

Ahh yes, the "champagne taste" coupled with the "beer pocketbook" as some might say. Why is there no cure? The RSX-S and Impreza WRX (MY02 for both) retail the same as a MY00 S2K, so if it's not an S, it's definitly not one of those. I hate to stoop to the ricer level and get a Civic Si, but maybe it's meant to be.

 

Doug,

My 16 y/o son has a black MY2000 Si and it is a nice car. There is no embarrassment in that car. Having said that, I'm one of those people who strongly believes that if you really want something bad enough, and I mean bad enough, you can do it. You may need to bust your ass and work like crazy, but if you really want it bad enough you will find that it is worth it. I have learned at the ripe old age of 4x that anything I ever really, really wanted in life, I was able to get. And I'm not just talking about "things". If you have a passion for something, and you want it...there is no greater thing to behold than a person who goes after their dreams. My .02. You can make it happen.

P.S. your step dad was obviously very proud of you. He spoke VERY highly of you. You seem like a polite, articulate young man with a good head on his shoulders. You will go far. Trust me on this.

 

To be blunt, I suspect that you shouldn't buy an S2000. If you can think about the following points and buy one in good conscience, more power to you. No need to answer any questions here, just think about them. And as Rob pointed out, there are many things in life more important than a car. You're apparently young enough that there will likely be other opportunities for the dream car when it is more affordable.

First, find out what insurance will cost you. Not what someone else pays, but what you, with your driving record, credit rating, distance driven to work/school, etc. will have to pay. It sucks, but single guys under 25 or 26 often get hammered here.

Then, in addition to the monthly car payment and insurance, figure in maintenance/upkeep. The car wants 92 octane, which ain't cheap. Can you handle payments, insurance, and $500 per year ($40/month) for tires? Because rears wear out in 12k miles if driven hard, fronts last about twice that. Look up the W-rated S02's on The Tire Rack's website, then add shipping + mounting and balancing. That's just a routine expense on these cars. Any S2000 under $18k or $20k will likely soon be out of warranty, if not already. What would, say, a new clutch do to your budget? And that's a wear item if the car is in warranty. You might get it covered and you might have to pay for it.

Would putting down the $10k you mentioned and borrowing the rest leave you with no cushion? What if you lose your job (companies go bankrupt all the time); what if you get sick and cannot work; what if the car needs an xyz and you can't drive it without a $1,000 repair; ad infinitum.

However, I do agree with Triple-H. I think you could consider financing a less expensive car. I''m assuming that you saved the $10k and are fiscally responsible. Take $5 of the money you mentioned, borrow 3-5 thousand or so, and you should be able to drive a nice Civic, Integra, or maybe an older Miata; the loan will establish your credit rating (which will be valuable later or ruin you later, depending on whether you make the payments on time), and you will have a $5k cushion in the bank in case the sky falls in on your life. The payments on the smaller loan will be more likely to leave you with some "fun money" every month than an S2000 would. Repairs and upkeep may well be less than an S2000. Certainly 87 octane is cheaper than 92.

My advice is to drive a car you own, not one that owns you. There's more to life than lying awake at night worrying about how you are going pay the bills, watching your friends do things you can't afford because your car is eating up too much of your income, etc.

 

Carmen

I happen to agree with you. You can get anything and accomplish anything that you make up your mind to get or accomplish. Many of us, you and me included, are living proof of that.

That said, I think Rocket needs to decide the "at what cost" part of it. It would truly be a shame for him to forego his education, training, career opportunities, things that will last a lifetime in order to buy a car now. If he can find the proper balance, that is fine, if not, first things first. There is plenty of time to get that fancy car. I got my S when I was 51. I got my MGB when I was 22. Until then I drove a hand me down 61 Chevy Impala. I'm sure many of us have the same story. My point is we all love the S, and I'd love to see young Rocket have one, but not at the cost of other things, and not if it means being in debt at this point in his life.

Rocket

Carmen is absolutely right. There is no shame in a Civic SI, it is a damn good car. One of our members (Triple H I think) has one and loves it. There is no shame in an RSX, I think its a great car and am tempted to help my son get one in a year or two. There are plenty of good alternatives within the range that you can afford. Don't bite off more than you can chew in terms of the money.

 

Rob,

Agreed. I tried to send you 2 PM's but they pooped out.