I picked up a 41k rebuilt salvage title 2001 S2000 for $6k. So I'd say he's asking a little high from the little information that has been given in the OP.

Also note the guy I bought my car from put a lot of money and time into the car, but had another car project he was working on so I got lucky in that regard. I've had my car for 2-3 months now, about to hit 42k miles and nothing has gone wrong so far.

I'd say closely inspect it and ask a lot of questions. As for insurance, I believe some insurance companies offer full coverage but if you do get full they will only give you a portion of what your car is worth if it gets totaled, not the full amount. Once again, I'm not 100% sure but call up your insurance just to make sure.

As for is it worth it, it really depends on the condition it was kept in and how good it was fixed up/rebuilt. I have friends who drive my car asking me how I got it for so cheap and I told them it was a salvage and they were blown away cause they couldn't tell. But even then, in my area you can find even clean AP2's in the 80k mileage range for %12.8 so that price worries me.

And for my last comment, VIN check the car.

 

Many People make ASSumptions that cars with rebuilt or salvage titles are garbage. While some are; many are not.

Salvage due to theft would usually mean the top was cut, seats were stolen.

 

What state are you registering it in? Some states do not allow salvage title cars to be driven on the road. For example; I bought a gsr with a salvage title in South Carolina and I had to get it fully inspected and check out by the state to get a rebuilt title. I have owned two salvage title cars and I won't do it again and here is why.

There are way too many s2000s out there, why spend that much on a salvage title? One of my rebuilt title cars were a ssbp gsr (1 out of 1900 made). So I was willing to take a loss on it, but it has to be at the right price. I paid 5k for it and put 120,000 miles on it and sold it for 4250. But that is rare.

Also, keep in mind the the person that will buy this car when you sell it. This type of group does not want a salvage title car and it will be very hard to sell years later.

Pass on this one a d get a clean title. Pay the extra 3-6k. It's worth it.

My .02

 

I have read all the responses and appreciate all the input. With that being said i think i will take the time and find a clean one with how much he is asking.

On to another question. Would it be a good idea to buy a s2000 with say 100k miles on it and rebuild it?

 

It would be a better idea to buy one with 100k miles, drive it for another 200k, then check to see if anything needs to be rebuilt yet.

These really are amazing cars in that even with their high-strung nature, maintenance wise its like any other Honda. Do regular maintenance, change the oil, drive it like a banshee, enjoy long service life.

 

First of all, you arent a car dealer, second, the book prices are all over the map to the point that they are basically worthless. From your description, 12,500 is a steal, stop trying to take advantage of the elderly.
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Exactly. If you want one for wholesale get a dealer license and an auction badge. That's a 12-13k car.

$800 would a a bro price just for the hard top fabric installed. With the other parts missing you're looking at another 400 at least. The mods don't add value IMO. Even with the extra bump for white he's out of his mind. I wouldn't pay a penny over 11.

 

Thats high, as for the top, if you do the install yourself you can get the parts for 700, if you have a shop do it, figure 1300-1500.

 

As someone currently trying to sell a salvage title car i picked up at auction and fixed up, it is hard to resell these cars. For a salvage certificate (direct from auction) at least in California, you have to get a brake and light inspection, smog, and then a DMV or CHP inspection. If the car is already on a salvage title, registering it is as easy as any other car. For insurance, I have AAA, they give me full coverage but at a much lower value, i think the usual pay out is 60% of what it would be for a clean title car. But due to the lower value, your insurance rate is much lower. As for whether or not it was a theft, i believe the title will be branded as theft. The vin check is good to do, but if all the panels were stolen it won't tell you if they were replaced due to damage or because they got jacked.

My recommendation is this, buy the car only if you plan to keep it, reselling it will be a nightmare.

 

Which is why I love salvage title cars.
I dont care what anybody says. Getting an s for 6k just because people are scared to buy sounds good to me
Now I just gotta pull the trigger and buy one

 

2005 clean title s2000 w/ 36k miles and comes with oem hardtop. condition is great for an 8 year old car. seller is asking 24k firm. worth it?