First, a bit about me.
I am a 22 yrs old student (almost going to graduate with a part time job) and live with my parents.
In the past, I driven 3 integras, all standard. I always loved the S2000 ever since it came out in 99.

I sold my last integra due to several factors (which I will not get into) and then bought a 06 Civic EX with Navigation (Sedan/AT).

I miss driving standard and I may be moving out to a house.
My initial plan was to pay off the civic then get the S2k or if I got the cash flow all of a sudden to support the house, civic and then get the s2k.

However, I been considering trading in my car and just today. The Honda dealer, and the guy I am speaking to, said there is a red 04 S2k that just got traded in.

"we just recieved a Red 04 S2000 in on trade.....35k miles- Certified - 22,480.00 in GREAT condition!!!!" - by the Honda guy.

I purchased my 06 Civic EX sedan, with navi (Automatic) for $22,300-$22,500.
If I can get my civic trade in value from $15-16k to a $17-18k. Should I get the S2000 instead and get a used sedan later. (basically changing what I initially planned).

Or... should I wait and get a 03 red s2k, which I also thought (due to 9k rpm).
As you can see, several considerations on many ends.

Recap:

1)Stick with civic, get house, then keep working for S2k while paying off the civic (about $9k left).

2) Stick with Civic, get house, and forget an 04 S2k and get an 03 (AP1 s2k) maybe lower price then.

4) Refinance and get the s2000, get house, and pay those off... while try to save for a daily as well.

Note: I still owe roughly $9k for the 06 Civic Sedan EX, w/navi (Automatic), refinancing would depend on how much the dealer would give me for my current civic. The initial price was $22,300, I put a down payment of $10,500 and now owe again, roughly $9k.

Please help me make a wise, smart choice.
BTW: My parents will probably be a bit disappointed, and this is all still in the waters. Which is why I am asking you all (hopefully, adults too but reasonable to help me make a wise decision).

Thank you

 

This is America: you should trade cars every six months until you've built up so much negative equity that you can never get out of the hole. It's your birthright. ;-)

Seriously: why don't you sit tight until after you graduate and get that entry-level job and first apartment; there will always be more S2000's on the market.

 

Well I have extremely well credit and a house = equity so I am sticking with being patient and pay off the new Honda civic while getting the house I plan to get 'hopefully' this summer. Then work gradually for an S2k once this civic is paid off.

Btw... I would never want to rent an apartment, its just in my view. Bad debt, no equity.
A townhouse would be a different story, but I get that as a side thing after a house as well.

Thanks for anyone that actually put thought, haha.

 

for 35k miles at that price+tax will probably go up to 24.5-25k and thats too expensive man I bought my 2005 NFR with 2kmiles for 23.5k including tax, title, liscense. But it took me a while cause i shopped around alot, since you have the patience I say just wait until you can find a better deal while you're settled.

 

Bringing back this topic because situations have changed a bit.

I now own a house, have roughly 6,500 left on the Civic and was wondering if I should try to pay off the civic and lease a 08 gpw s2k.

Or the trade in which they offered 15K for my Civic, yes.. its low and unfortunate for a 22-23k car in only approx 1 yr 1/2. almost 14k on the car...


Monthly be $305 for 3 yrs
OSP: $32,998 fo t he s2k

Of course overtime, the residual may build overall due to lease... Was wondering what you all think.... I can't seem to find a 05 white anywhere or I would maybe consider a used one since its a lot cheaper...

 

im not in the same boat as you but i could relate. i'm thinking about selling my 240sx and working my @$$ off this summer and getting a s2k. however, i realized that working so hard and dropping everything i own including my savings and my 240 which i still love to upgrade to a car that prob. will be a 00-02 model with a bit of mileage doesn't seem to justify all that hard work and money that would be spent on it.

i'm graduating pharmacy school in 3 years i'm 1/2 way there. i decided to just wait it out a few years, my view could change by then but if i still love s2k's by then i will purchase a better one than i could afford now which will be better in the long run.

either way, the final decision is upto you but hey you never know, it might just be a spite of the moment thing, i'd just be patient and wait until i'm more finacially stable to drop money on a s2k. so just pay off your civic and wait until you can fully afford a decent s2k...that's what i would do.

 

I would get the S2000 but I can't stand automatics and I don't think it's the best advice finance-wise.

 

pay off civic,

buy a house

wait 2 years, refi and pay cash for a porsche GT2


MAtt

 

Pay off the civic and keep it as a daily. Hold off on the s2000 until you clear all debts. I mean seriously, ask Suze Orman. She'll deny you, lol!
Too much debt and not enough in savings.

 

Do not trade the equity on your Civic for an s2k lease (rental).
$15k for your trade, $6.5k owed. $305/month * 36 months == $19480 to rent an s2k for 3 years. Don't do it.

UD.