New to Old. What do you think
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From: Albany, UPSTATE NY
Originally Posted by hondastrtracr,Mar 9 2010, 03:42 PM
This has been running through my mind for weeks now. I have a Rallye Red 2008 Civic Si coupe. It is of course prestine with minor mods none of which have to do with the engine. It has H&R springs 18" wheels and a VIS CF Hood and some OEM upgrades.
2 Weeks ago I found a 04 S2000, Silverstone with all black interior. $14,900 with a good chance I can talk them down and would probably get about 15k + a little more for my Si, I currently owe 16,8 on it. After doing some calculations on both monthly payment and insurace I would save about $175 a month. I have wanted an S2000 since 2000 lol the only downside I can come across with on this one is the front passenger fender was replaced due to a truck backing into it in a parking lot. I have not seen the car in person yet but the salesmen has sent me some detailed pictures and it appears to look like nothing ever happened. No color differences no gaps and so on.
So really do I have anything to lose here? Or am I getting more for less money and the car I have always wanted. I was also kind of on the edge about the silverstone but thanks to S2ki.com and the galleries and members I can see that S2000 = Sex on wheels in any color.
2 Weeks ago I found a 04 S2000, Silverstone with all black interior. $14,900 with a good chance I can talk them down and would probably get about 15k + a little more for my Si, I currently owe 16,8 on it. After doing some calculations on both monthly payment and insurace I would save about $175 a month. I have wanted an S2000 since 2000 lol the only downside I can come across with on this one is the front passenger fender was replaced due to a truck backing into it in a parking lot. I have not seen the car in person yet but the salesmen has sent me some detailed pictures and it appears to look like nothing ever happened. No color differences no gaps and so on.
So really do I have anything to lose here? Or am I getting more for less money and the car I have always wanted. I was also kind of on the edge about the silverstone but thanks to S2ki.com and the galleries and members I can see that S2000 = Sex on wheels in any color.
The S is a great car but I cant bring myself to daily drive it, in the North East all season. The S is driven on all the nice days, and the Si has fun through out the year.
Rallye Red is a great color. Like someone suggested on here, wait until the 06's are more affordable and get one for yourself. Also keep an eye out for private party sales. I lost out on a pristine 2003 Spa with 9K miles that was selling for $11,500. I was in a day long meeting, and by the time I called the car was sold.
The running cost for me on the S is lower as it sits indoors all winter long. Tires are more expensive than they are for the Si, and driven daily you could possibly need tire replacement more than once a year.
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I bought the Si with a 2.9% interest rate, 0 Down and No payments for 2 months. My credit is awesome so financing is never and issue. I could probably pay the Si down the 1800 more for a flat 15k in the next 2 months. Either way I am anxious to get out on a track this summer, whether it is an S or not, just kinda want that drop top love goin on.
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From: WI
Originally Posted by hondastrtracr,Mar 9 2010, 07:09 PM
I bought the Si with a 2.9% interest rate
Also consider that the bulk of your interest payments are at the beginning of the loan. A larger percentage of your payment is going to the principle right now so it's effectively costing you less every month even though the payment is the same.
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From: Charleston, SC
I say go for it man! You'll be getting a much sexier and faster car. Not to mention the pleasure of dropping the top on nice days. When the weather is just right and you're driving with the top down you will know you made the right decision. Good luck in whatever you do.
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Originally Posted by dammitjim,Mar 9 2010, 05:43 PM
Part of the problem is that even with good credit, banks won't give really good interest rates on older used cars. That can significantly affect the total cost of the car if you're financing most or all of it.
Also consider that the bulk of your interest payments are at the beginning of the loan. A larger percentage of your payment is going to the principle right now so it's effectively costing you less every month even though the payment is the same.
Also consider that the bulk of your interest payments are at the beginning of the loan. A larger percentage of your payment is going to the principle right now so it's effectively costing you less every month even though the payment is the same.
I guess the way I been looking at it is on a month to month basis. I am putting $170 or so back in my pocket which equals out to what I am paying in insurance on the Si each month or about $2040 a year saved. I am definitely no accounting expert but I am looking to put some money back in my pocket and get "more for less" like I had been thinking. $2000 a year could easily pay for several things.
It seems so far it's 50/50, go no go, with the responses I have gotten in here and appreciate even the most scrutinizing opinions on this, really helps me in my S2K search.