I am about to pull the trigger on a 2005 S2000 with 11000 miles on the odo. The private party seller is asking $19999. KBB book value is $18200 for private party, 20,000 from a dealer. Car is mint except for some scuffs on the chin from driveway rubs. Is this what I should expect to pay over book or should I never pay more than KBB. I'm sure the dealer would sell below book at a starting price of $20000.

If these cars fetch a premium over book I am OK with that. You guys would know better than me. I really (really) want this particular car but don't want to be upside down on the deal later on if I decide to later sell it!

Please repond ASAP, tomm. is decision day. I hate waiting for toys.

 

I would haggle a little and use the KBB as your leverage.

The way things are now, you shouldn't have a problem getting them down in price a little.

 

Are these cars typically fetching a little more than book value on average?

 

The way things are now, not at all. If the economy was a little better, it probably would being its summer and all. Clearly though, that is not the case.

 

I dont think that price is too bad, but it sure wont hurt to play the I go low you go high game.

 

What would you offer without offending the seller? I don't want to queer the deal by sounding like an a-hole!

 

Decorum is the key here.
Two people can make the same offer, one could be declined, one accepted.
Be polite and respectful, make your offer low, stop, check reaction, continue.
Don't blab on because of nerves, be fair, firm and look for a deal that suits both parties.
You sound like you'd pay close to $20k, offer KBB book price (confidently), end up at 19k and enjoy.......

 

I got my dang near perfect 05 in January for 18.2 out the door with just over 20K miles. Take that for what's it worth...

 

Patience is your friend. Why a 5/15 deadline? Even KBB excellent $18400 is a tough sell in this market. "Excellent" cars are rare- deduct full retail for any defect.
I shopped for at least a year, willing to travel ~ 600 miles for a deal. I'm retired. One day the best deal I had seen ( I had a list of ~ 12 cars, they were not selling fast) popped up on CL 10% cheaper. Owner had lost his job, had one week to pay off a negotiated reduced balance with the lein holder to save his credit rating. I'm into a 05, garaged, stock, adult owned (over 40), perfect S (even the factory tires look only slightly worn) with 12K for well less than Kbb (including TTT). And 10 miles from my house.
So I suggest patience, especially when buying "toy" in a bad economy... deals are to be had.
I followed the Cayman market for ~ 2 years. Club members & Ebay reported perfect condition cars, MSRP ~ $66k, selling for half that 12-18 months old with 5-10K on them. Thanks to Honda's reputation, S2000's have held more of their value.

 

Please take RICKQPT advise. Also have cash in hand or finance line up before shopping.