looking to purchase s2000
Joined: Jun 2005
Posts: 1,816
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From: NYSE
Originally Posted by ericlikewhoa,Jul 9 2006, 09:26 PM
^ AHHAHAHAHHAHAHAHA 
i know im sounding immature and retarded, but actually im thinking things through and right now its hypothetical to see if it is possible. im thinking it is, but many of you helpful guys think its gonna be hard. i have to wait and see!
i know im sounding immature and retarded, but actually im thinking things through and right now its hypothetical to see if it is possible. im thinking it is, but many of you helpful guys think its gonna be hard. i have to wait and see!
Joined: Jul 2003
Posts: 4,526
Likes: 5
From: Hurricane City, FL
Originally Posted by steven975,Jul 10 2006, 01:13 AM
that isn't what I was getting at...I'm dealing more from an insurance perspective.
Both S2000s I've had totalled (not by my actions) the insurance payout was more than I owed, and in one instance more than I paid a year earlier.
Of course if you buy retail and trade in the next day you'll be hosed. If, however, he decides to sell his car maybe a year later, chances are he would get more than he owed for it. You pay off about 15-18% of the balance after a year on a 5 year loan, and used cars don't often fall that much (of course, the exact age does become a factor). Lets just agree that after 2 years he'd definitely have equity...he would not with a NEW car.
Both S2000s I've had totalled (not by my actions) the insurance payout was more than I owed, and in one instance more than I paid a year earlier.
Of course if you buy retail and trade in the next day you'll be hosed. If, however, he decides to sell his car maybe a year later, chances are he would get more than he owed for it. You pay off about 15-18% of the balance after a year on a 5 year loan, and used cars don't often fall that much (of course, the exact age does become a factor). Lets just agree that after 2 years he'd definitely have equity...he would not with a NEW car.
I also agree that if you buy a 2 yr old car, and make payments for 2 years, you certainly should have equity, it seemed like you meant that you would immediately have equity upon the purchase of a 2 yr old car, which I see you agree is incorrect, at least in the retail market.
Cheers,
Mike
Joined: Jul 2003
Posts: 4,526
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From: Hurricane City, FL
Originally Posted by ericlikewhoa,Jul 9 2006, 04:19 PM
hahhaha this isnt for the babes...its for me! hahah well i know i dont wanna get myself into something that i cant handle so imma do a lot of thikning. i guess if i make enough money, then itd be cool.
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haha i dont need this car to attract girls hahaha jk but i dont have a car right now cuz i just sold my last car. my parents arent giving me a cut from the money we got for it. and imma need a car anyways to commute to school next year. so if im gonna spend money on buying a deent car like an rsx or what not, might as well spend a couple thousand and purchase a s2k. i know im not gonna ever get rid of an S so it would be a investment.
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