I'm not sure which forum this actually belongs in, but since I don't own an S2k yet I figure this is as good a place as any.

I have always purchased older cars (12+ years old) in the past, which has been for the most part an easy thing. I'm now looking for an 04-05 S2000 and I'm curious how the transaction could be handled if the seller still owes money on the car. Do I pay their bank directly and get the title signed over that way? What if they owe more on the car than I'm paying for it?

When a seller describes their car's title as "clear" does that mean they own the car outright, or is it simply that the car isn't a salvage vehicle?

Anything else for me to watch out for?

Thanks.

 

Good thread. I am here for the same reason.

 

Clear title means that the car doesnt have a totalled/salvage title. But always check out a car fully.

A clear carfax is simply one step in checking out a new car. If there was an accident, no matter how bad, if it wasnt reported to the police, or wasnt reported to the insurance, then it wont go on a carfax.

I had an accident that would have totalled my last car had a shop appraised it. I got a police report, and the insurance knew about it, but according to carfax, there was never an accident on the car.

S2000's will have the vin numbers printed on most of the panels that should all match obviously.

Im not sure on the financial side if the seller still owes on the car. I think you would get a bill of sale or something similar until their bank approves the payment, and then sends the new title to you...but im not positive.



But as far as checking out s2k's:

common problems would be more noise from the rear differential than usual, excessive grinding going into/out of gears.
*make sure the body panels all line up correctly, and gaps are consistant.

I usually stay away from cars that have mods such as clear sidemarkers, changed emblems etc.. since they usually mean that it was driven harder than usual. And who knows what was installed on it before that they swapped back out for stock. Of course, that doesnt happen all the time, but its something I always go by.

 

Good advice he gave. Also do some research and when you talk to the seller if you sound like you know what you're talking about they are less likely to BS you because they have to wonder if you'll call them on it.

For isntance when I was looking at getting one I looked at new ones and when I went for a test drive the salesman tried to tell me that the S did 0-60 in 4sec and that it was way faster than my Z. Both bold faced lies. I called him on it and left.

Guy I bought it from simply asked me what I wanted to pay, he offered it for 200 over what I offered and I bought it. Never pressured me to get an extended warranty since it only had 12k on it, gap insurance, life insurance or any of that other crap they usually try and pile on. Oh and for once there wasn't some 350 dollar doc fee. It was 75 total for the loan ap and documentation.

Knowledge is power