S2000 Market Prices
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Joined: Apr 2005
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From: SoCal
Originally Posted by sugarbear,Jan 20 2006, 01:55 PM
A dealer I've delt with in the past gave me the "invioce" price and said "make me a fair offer ?
Does the "invoice" $$ include shipping,paper work, ect. or should I consider this plus a profit margin for the dealer as well ??
Does the "invoice" $$ include shipping,paper work, ect. or should I consider this plus a profit margin for the dealer as well ??
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In your opinion, what is a fair price for new 05 S2000s which remain on dealer's lots? I'm under the impression that even the 06s are selling at invoice, so how much of a discount should be applied to an 05 model?
I found an 05 GPW with the tan interior I'm interested in, but will have to drive about 4.5 hours to get it.
I found an 05 GPW with the tan interior I'm interested in, but will have to drive about 4.5 hours to get it.
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Originally Posted by LABrit,Dec 19 2005, 11:03 PM
well yes it is a good deal, but as i have to put 10k down, i am completely going to lose that money.
The s2k has a really bad depreciation rate - almost 6k the first year pretty much.
If i buy it for 33.6 OTD i will lose the 6k in depreciation and 4 k in paying back the interest on the first year, so i will lost the 10 k and come out with nothing if i sell it. What a waste of 10 k right?
If i buy used, i will pay around 26k, finance only 16k and will probably get back 4k if i sell it, or around that figure...
I will then not have to worry as much if the car gets scratched or anything if it is used, and will not worry about the fact that i blew 10k in a day.
Opinions on those thoughts?
The s2k has a really bad depreciation rate - almost 6k the first year pretty much.
If i buy it for 33.6 OTD i will lose the 6k in depreciation and 4 k in paying back the interest on the first year, so i will lost the 10 k and come out with nothing if i sell it. What a waste of 10 k right?
If i buy used, i will pay around 26k, finance only 16k and will probably get back 4k if i sell it, or around that figure...
I will then not have to worry as much if the car gets scratched or anything if it is used, and will not worry about the fact that i blew 10k in a day.
Opinions on those thoughts?
[2] When depreciating a car, one should not consider taxes or title costs. So the "33.6 OTD" should be closer to $31,000 as a starting place for depreciation. Edmunds.com sets the resale for a 2006 S2K at $27,645 after the first year. So depreciation is about $3,500 to $4,000 the first year, then goes to about $1,500 - $2,500 for the next four years.
[3] You speak of a "waste of 10K". A car is not an investment. You will lose all the money you put into a car. If you chose to finance the extra $10,000, you will only be paying interest on it coupled with a higher monthly payment. You can't get away from paying for it by not putting money down at purchase.
[4] If you buy used, you dont get a full warranty. You typically pay a higher rate of interest with the thought being a used car's value is more unstable than a new car value. You have to worry about someone abusing the car or there being funny business about the condition. There is only the smell of anothers ass, with no new car smell
.Anyways, my .02
~Adam
