The past two weeks, I've been driving my S2K quite lightly (I don't commute with it) and I notice a very slight burning smell coming from the car. I can't tell where it's coming from and it doesn't leave a leak.

I finally decided to go out and saw brownish liquid on the exhaust. This definitely started happening very recently as I swapped my exhaust only a few weeks ago and that one was completely clean with no burns on it.

I have no idea what this liquid could be and it is around the muffler area. I've linked a few pictures. Can you help me out?

 

Some more images! I suspect my left CV axle boot is leaking because that doesn't look like it's coming from the diff and it's all around the CV axle - but the CV axle boot itself is quite dry.

 

Grasping at straws: Might be coming of the road and not out of your car? The stains look dark like dirty oil. Recent blacktop repaving in your area? Puddle of oil on the road? Anything in the wheel wells?

-- Chuck

 

Check the differential mounts, they leak brown fluid once they bust.

 

I checked all four diff mounts - bone dry.
Checked both CV boots -they don't look like they're spewing anything. No sign of of wet grease around it. Nothing that's down there is wet - everything that I see that's on the car is dried up the exhaust.

Maybe it was an external source...hopefully.