I have a concern about the dropping resale value of the S2000. It appears that the trade in value on a 2000 S2000 has dropped to $23K to $24K and the asking price in the newspaper ads has also dropped to about $25K to $26K, at least in our local area. Has anyone been watching this closely in their area?

Even when purchasing the 2000 S2000 new at MSRP ($32K plus sales tax and document fee) this seems to be huge depreciation for a honda. Assuming a current retail of $26K this is a $2,000 drop per year plus the tax and doc fee. I realize the percentage drop is probably not out of line but I have never owned a Honda that lost $6,000 plus the tax and doc fee in value in two to three years and was not expecting this.

Has anyone else replaced their lights under warranty. The black plastic crackle finish on the bottom of the light case was bubbling. I had to wait for two weeks for them to arrive, but they were replaced at no cost to me.

 

Well, once dealers start selling for less than MSRP then the price for used ones HAS to fall.

When supply exceeded demand, then used ones could fetch near MSRP. But once you could just go get a new car, then no one would buy a used one for a high price - so the used prices fell. Once there was a larger difference new->used, then dealers would lose sales to people saving $$ and getting a used car - so they discounted the new ones. This makes the used sellers have to lowe the price, etc. Add in the changes (glass window, etc) to the 02 and newer cars, and the older ones are "less desirable" so they drop more.

High dollar cars always lose more money, the S2000 has been a stand out for not doing this. I still think they will be above average still but maybe no longer WAY above average. Honda thinks so too, they predict 66% after 3 years for a lease. BMW says 51% for a Z3. Now THAT is depreciation

Dennis

 

I would expect the resale value of more expensive/sporty/impractical cars to be hit harder during times of economic downturn than other types of cars.

Joe Blow buys an S2000 in Fall 2001, gets downsized in Spring 2002, and trys to sell the car to buy a Civic. Increased supply diminishes value.

 

There was an article the other day that said used values in general are dropping fast. Most cars 3 years old command 50% of the purchase price now. The S2000 still has great resale value compared to anything else. I tried to buy several used 2002 and all sold for more the 30,000.00. 2000 models are now older cars coming out of warranty and will really start to drop however its all relative and the S is still the strongest car in resale under 75,000 built.

 

Yep, things hurl in general for used cars.

Everyone was spoiled by all the 0.0% financing post 9/11. The cheap rates worked, but resulted in a glut of used cars. Then the rates went up, car sales slowed. So they bring them back, tons of new cars sold lots of trade ins sitting. With normal rates, new VS used rates are not that bad the big difference is the price - you can save getting used. With 0.0%, new may be cheaper - the result is that used prices fall, add in the glut of cars and they fall even more.

When GM brought back 0.0% on all cars - including the Corvette mine dropped $3000-4000 in value as a used car. Dealers also have more than they car sell (downsizing, slow economy, etc) so they are discounting up to $5000 off of MSRP. So if you would get $5k off and 0.0% (now 3.9%) for 60 months, or get a used car you would probably get the new one.

Even Honda just had a 3.9% weekend. The trouble with these promo deals is that people have learned to expect them. Take them away, slow sales - everyone waits for the next promo.

Having a high performance sports car and only losing 22% (or less) in 3 years is GREAT!

Dennis

 

Forgot about that. The first cars sold are now out of warranty or getting there. The pool of used S2000s gets larger with every model year. The changes for 2002 make there a difference between the first 2 years.

Dennis

 

In addition to all the above....prices for ragtops typically drop as winter approaches.

--Steve

 

Also, there is a plethora of competiting cars soon to hit the market such as the 350Z Roadster and BMW Z4...

Reminds me of the collapse of the Miata market about 10 years ago!

 

I just got mine appraised for a possible trade-in today. I was told I would get $20,500. Kinda shocked me at first... They said it's because no one in the area (midwest) is looking to buy a convertible right now, with winter coming up soon.

 

all used cars are cheap right now.
with 0% financing for over 5 years and rebates of $5k on new cars....it is too be expected.
i just looked at a 1999 996 (911) with 36k miles for $42k.
It aint just us!