hey guys, I'm 18 years old and I'm saving money for a S! really love this car and I always wanted one.
I'm working this summer and will make 5 grand...my mom felt sorry so she will chip in 5 more G and I'll be working in the winter and will make 5 more G which will be a total of 15 Grand.. but at the end, driving round with the S will be worth it.
Do you guys think I could buy an used S2000 around 15 grand? II'll be 19 next year, would I look spoiled if I drive one? Well I did work for that car, it's not completely my parent's money..
How much you guys pay a month on insurance? I'll probably put it on my parent's name or else the insurance would kill me!
Give me some ideas guys...

 

for 15K you could, but it would be a high mileage 2000 in below-average shape. I would say that 17K is a more realistic starting price for one with medium mileage.

even in your mom's name, it'll still be very expensive. Remember that in some states, if your name is not on the policy and you wreck it, you might be responsible. You may even be denied if you are not listed as a driver.

 

19 here, I look good driving it, don't really care what anyone thinks. Have like 5 other young friends driving an s2000 too. You ever heard of financing? As long as you know you're going to be working... you could even lease a new s2000 for $300/month. Or buy used and pay $300-$400 in payments monthly. No problem with that. Insurance for me is $200/month but my record is not perfect. IMO lease a new one or buy a used '02 w/around 30k miles.

 

Well if you worked hard for it I see no reason why you shouldn't get one, yeah 15k seems a little low to me.I think 17k~18k is more realistic.And by the way i'm 27 and i pay 122 per month on insurance.

 

well yea I could lease a used S, but you see I live in North Dakota and there aren't many cheap S2000 for sale here.
There was a black one like around 2001 with 60K and they wanted 20G!! I was like WTF? that's a hella rip off!
I want to go to other states and buy one but I don't live there. Can I still do financing with their dealers?

 

All prices are negotiable. So @ $20k, you probably could have talked the dealer down by using other examples of S2000s for cheaper, or just plain old negotiation.

Loans are not state specific, its an agreement between a bank or lender and yourself. They agree to lend you the money, you agree to pay them back in a certain amount of time, plus interest. So you can go anywhere you'd like and apply for a loan. With no credit or bad credit you'll probably have a high interest rate though. Your best bet is if you parents trust you, to co-sign the loan. That way you still have a low rate but you build credit history as well.

Your parents may be able to help you find a good bank to get a car loan. Maybe a credit union they belong to or something.

Once you're approved for the loan, you can go car shopping whereever you like and pickup the car. I got approved for my loan through a credit union up to a certain amount, and then bought my S2000 off of eBay. I wouldn't necessarily recommend using eBay ... but it gives you an idea of what you could do.

 

Just wanted to chime in here and say "be careful" with costs.

I'm sure you know this already, but owning a car is a LOT more expensive than just the price of a car. If you see a car for 20k and say "I can have exactly 20k by the end of the year" that is the wrong way to go about it.

Insurance, sales tax, registration fees, premium gas, cleaning supplies, possibly new tires (if the car is used), etc.

this all adds up! If you love the car, you definitely need to have one! Just be careful and dont dig yourself into a financial hell hole.

btw, 22 yrs old, have wanted one since I was 17, got it 3 weeks ago. Couldnt be happier

good luck!

 

Cost of ownership is definitly something to consider with this car. Though it has a very reliable drivetrain, the consumables for the S2000 are expensive and wear quickly (tires, brakes, etc).

 

can't believe i went through 3 sets of rear tires in the first year of ownership - until i finally got an alignment.. my bad

gotta consider the consumables!

 

Sounds kinda like me. I got my '04 Rio Yellow the day i turned 18. I financed myself with my mom cosigning( for insurance purposes) . So with good grades at school in my moms name my insurance is $190 a month. In my name i was quoted 375 a month. As far as buying an s2k for 15g's. It can be done but i dont think it would be in the best condition like everyone else is sayin. Take the 15 and put it down on a brand new s2. I out 20 down on mine and my payments are only 300 a month. And yes i did pay for it myself. Well hope all works out well for you cause this is the best car i have ever owned.