Hey all I have a bit of a problem on my hands. I have a 04 S and I truely love it so much fun to drive but I just got a promotion at work that is going to require me to take out customers. I wish I could keep the car as a second car but cant afford that. So here is my question to you all. I actually got a 3 year lease on the S and I am about1 year into it so the only thing I can really do is sell the car outright for more than what my payoff is. I blue booked the car and on the high end it is like $28,000. I need to get some money off this deal so I can put a down payment on another car. SO my car is a MY 04 with 14000 miles on it with HKS Hi Power exhaust only been on the car for like 6 months and it also has a AEM V2 intake and about a $5,000 stereo in it fully custom. I was going to put it into the autotrader at like $29,500 and was hoping that since there are no changes to the 05 S that someone would think that is a good deal by saving a few thousand on a brand new one and getting the stereo and all the rest of it. Anyways let me know if you guys think I am nuts. Thanks again

 

$29k? isn't that a little too much? you can get a new 2004 s2k for $31k. also the price of the 2004 will go down even more in october when the 2005 models come out.

good luck with your sale.

 

TTT

 

someone over at the For Sale/Cars section has 2 brand new MY04 for $29,999.

Even though you've spent all that $$$ for your stereo, you won't get much for it as aftermarket add on. You probably would've had a better luck selling it by adding a supercharger instead.

Try parting out first, although that may be tough since you said it's custom made, and $5k

after parting out, you should be able to sell for $28 or so, so you won't take too much hit.

Since you got promoted, why not just lease an Accord on top of your S? It's only like $250/mo or something. That should (?) be covered by your promotion fees right?

 

You're probably much better off just buying a cheap used 4 door as a daily driver/beater to use for work than trying to break the lease on the S2000. You can find decent, basic sedans in the $3000-$5000 price range all day long. Then make that sedan your primary car on your insurance policy, and you will probably lower your total insurance premiums at the same time.

Andrew

 

i heavily doubt you will be able to sell for more than the payoff.

the amount of depreciation you pay off is less in early years than in later years, and cars depreciate fastest in the first years. Thus, selling for more than the payoff is most likely NOT going to happen. I think you could do $27K if you sold it soon.

 

PM'ed you...

 

You're going to wind up taking a loss on the audio system and mods. The exhaust and intake you may be able to take off and sell in the classifieds without a problem, but the audio system is going to be a hassle to remove. Trust me, I've been through that. I put a system in my last car by myself, spent about 50 hours of my time over the course of a month or so working on it and then decided to sell the car. I then spent more time ripping everything back out and the crap now sits in my closet because I can't find anyone to buy it. Everyone likes to nickel and dime you on stuff like this. I've had like new Dynaudio speakers ($700 speakers) forsale for $400 shipped over at Sounddomain.com for the past 8 months and can't get rid of them.

I got my '04 for $31,200 back in January and personally would not pay $29,500 for one with 14,000 miles on it. There have been a few people who have gotten their '04's for $29,500-30,500, brand new. I'm thinking more like $27k-ish also. These cars do retain their value better than most, but not over the course of a year. Over 3-4 years, you see the difference, but the car loses a few grand the second you drive off the lot and you'll never get that back.

 

I saw a leased s2k for sale recently where the owner claimed that Honda Finance would accept a lease transfer as long as the new buyer qualified. I don't know if that's true, but it may be worth calling Honda and asking.

Dave.

 

Honda Finance will not allow lease transfers.

Yup, $27K is a pretty fair price. Before I cancelled my Elise order, I was going to put my 04 up for $27K.