So, in October 2008, after looking for 6 months and driving roughly 20 s2000s, I finally found my S. It was a 2005 NFR lease return with 41k miles on it. I picked it up for $17,500 OTD. I drove it a lot, took it to the mountains a few times, and 8 months later, had accumulated 20k additional miles.

Fast forward to today. I have realized at this rate that I will likely do 30k miles this year. After a year of ownership, my car will have 70k miles and after two years, it will have 100k miles on it.

Now, the question is, should I trade the car in at some point in the next few months for another S to insure that I don't end up upside down on my loan? I could go with a newer or older car, as long as the miles are lower. I'd love to have an 06+ LBP or 03-05 GPW w/tan (AP1 or AP2).

I'm seriously considering trading it on a lower mileage example.

What does s2ki think?

 

I think the more times you flip flop cars the worse you are with debt. On the same hand you need to be happy but our cars meant to be driven. If it has a lot of miles on it and (being that it is a Honda) it's still in great shape, who cares.

 

^ it's a honda. i am going to drive my car until the wheels falls off...again. yes one fell off once. enjoy the car, every time you give one up and pick up another you are losing money each time.

 

I agree that unless you want to deal with a lot of hassle, you should keep your car. Seems like you want one that you like (test driving over 20 seems crazy to me, but to each their own). Chances are you will lose money on your end or break even if you're lucky. I tried selling mine a few months ago to test the waters and got no real decent offers. The car is meant to be driven. And if it makes you feel better, I have a MY '06 with 54k on the clock and I bought it last August with 35k on it. Drive it and love it my friend!

Unless... the change in ext/int color means a lot to you, you can try trading with someone or seeing if anyone will bite on yours.

 

Take it from someone who had 4 cars in the span of 5 years, it sucks. Buying a new car is (almost) NEVER a money saving move.

The S2000 will be a reliable car well beyond 100k miles, so keep it and enjoy it.

I see no way of you coming out ahead (cash wise) if you trade in your car and get another one. Just focus on paying off the one you have.

 

If you're putting on that many miles, they must be mainly highway. Probably best to keep driving this one into the ground and replace things as they break. You have a non-DBW AP2, which means you can transplant engine parts from 00-01-02-03-04-05.... You have the most abundant "parted out" donor cars to choose from.

It'd be cheaper to do it that way. There was an S2000 that someone (Billman perhaps) did an oil change on... 200,000+ miles and still going strong. Highway miles.

 

~100k miles in a 6 or 7 year old car isn't THAT much higher than the average, i don't think.

you should keep making payments until you get out from under the upside down loan, because eventually, the car will be worth more than you owe again (read: when you pay off the loan)...don't go out and get a new 5 year loan on a car just to stay right-side up...being upside down, while maybe uncomfortable, is only a problem if you need to unload the asset, and from what it sounds like, you are in no hurry to get rid of the car except because of these hypothetical miles that you're going to put on by 2011 or 2012.

just drive it and enjoy it and keep making your payments.

 

I've had my car for 3.5 years and am approaching 100k. It had 19k when I started.

22k/year roughly.

I have no intention of trading/selling it either. It's running just fine and I dont see why it wouldnt in the future.

Not to mention that if you did a full finance on the car, and only bought it in Oct of last year, you already ARE upsidedown in the loan.

 

No, I put 3000 down, so my loan was only actually for 14500.

I have a 60 mile commute to work 4 days a week, have a girlfriend that lives 100 miles away, and then on top of that I take a lot of driving vacations on the weekends as well.

 

Sounds like you are really getting to enjoy the car to me then.
Why would you stop? It's working fine.