So let me share my story. Five years ago I had a 00 white ap1. I had to trade it in on a car that could get around in Ohio winters, so I bought a 2004 acura tl. I have since moved to SC and have been craving another s2000. I am about 3k upside down in the TL so that will be financed on top of the purchase price. Take a look at the 06 below, and let me know if you think it is a good deal. Also remember I will be financing an additional 3k. This car is also certified pre-owned.

http://www.courtesyhonda.com/index.cfm?veh...isebatchtype=FB

 

Well in the first place they're not really selling you the car for $21k so don't be fooled by that. Add on all of the dealer's costs plus the additional $3k and we're talking a lot of money. This is your car and your decision. However, I would not say to go that much backwards on a car. If you make enough money that it wouldn't bother you then again, your car...your decision. I just could not justify losing more than $1k to get out of a loan.

 

I wouldn't make any car purchase that would result in going upside down on the loan.

 

Thank you all for the input. I would basically be financing 24k out the door. So is a 2006 certified
s2k worth 24k?

 

no you can probably get a 08 for that price these days and thats too much money to be just giving to the credit company

 

06? worth under 20k. buy from a private seller...you can prob. find deals for around 18-20k.

 

noo not worth it sadly. I picked up my 06 with 31k miles on it about 4 months ago for $17k

 

If you trade in your car and manage to get a legitimate good deal, you're still going to add at least ~$2k to the amount you're in the hole (amount you are in debt vs the value of the car as a trade or a quick sale) as soon as you drive it off the lot.

Do you really want to be $5k+ upside down on a depreciating asset?

How long was the loan on the Acura? Have you been paying on it for the last 5 years?