Hi all, I am a noob here, I am currently considering purchase a S2k. The one I was interested is 2005 white with red and black interiors.ONLY 20000km. But the only question is it contains over 10000 Damage report. After i talked with the first owner, he said that the damage is impact on the rear trunk, he spend on all $10k on reparing the rear trunk and body stuff. There was nothing destoried on engin and mechanical things.
If all he said were truth, then do you guys think

1. is this a good deal for me to purchase this car?

2. will the handling of the car being effected by this amt of damage?

expecting for any suggestion.

PS: Price for the car is CAN$36000

 

Its actually all up to you in the end.. I personally woudn't want to purchase an s2k with that much damage. Did he claim it through ICBC? For $36,000 I'm pretty sure you can find another one without any accidents. I've been looking around for used AP1's and I've found a few for under $30,000 with low kms. Good luck with the search

 

price is not bad, but its gonna be a bitch to sell in the future, have to put that in consideration...

I would put alittle more down for something w/o accidents....

 

but it's year of 05, and only 20000km on it

yeah, already claimed on the ICBC record

 

yup, i know it's hard to resell for it.

 

its expansive to fix a s2000...
10,000 is nothing

I knew someone had damage over 15,000 - 20,000 as well

 

1) Deals are in the eye of the buyer, if the buyer thinks he got a deal then no matter what anyone else says, in his mind he will think he got a deal. you don't need us on here to tell you, looking for other people's approval is like asking do you like the color of my car, it's usually bias. But since you are probably looking for a majority vote, I would say, the price needs to be way lower and if it was me I take my 30g's + elsewhere to find another S.

2) If a proper bodyshop fixed the car and it didn't have any frame damage or suspension structural damage, then the car should drive as they call it "straight". In big accidents, a buyer should be most worried if the suspension or the frame was bent or broken, because like they say; once you have to do major alignment or replace the frame/suspension components on the car, it usually doesn't drive like it use too, but not that many people out there will be able to tell in a short test drive.

Anything over 2g's = a dec in B.C. (I'm sure you already know this)
But people in the Lower mainland are afraid to buy cars with accidents over 2g's here, Why? Simply because of depreciation, if you aren't afraid of depreciation for future resale value or it isn't a big factor for you, then the only thing you have to worry about is a fair purchase price.

In today's world, 2g's, 5g's sometimes even 7-8g's is nothing, that could be a bumper/tailights/some luxury paint on certain cars, but still the market determines the value and what it will be worth. The people in the car industry go by this rule of thumb usually, "More than 10g's damage, is a don't buy it car, unless you really want it/you got a buyer for it/ it's really cheap/or you just don't know any better"

10g's dec on a car, I bet a dealer wouldn't offer him more than what he is asking for it. I would go out on a limb, and say, around the 30g range is book on that car, unless the dealers are smoking something.

You also have to ask yourself if you are keeping the car for a short period of time or a long period of time?

If you keep the car forever (5+ years) or until it really breaks, then honestly it won't matter as much, but if you buy that car with a 10g ICBC claim, in a year or two you will lose quite a bit of money if you want to sell the thing.

My only other suggestion would be honestly to be patience, and sometimes it's worth paying more money for a perfect accident free car.

 

WOW, out of my expection, that was..so strongely and helpful analysis, I am really appriaciate for that...thanks so much for writing.

I will do some inspecting or alignment before i am paying it in some local honda service center.

I really like the car ,so i think i will keep this car for few years longer than any other cars i had. So i will pay extremely attention on the result of checking. If the report is perfect as espect (no frame damage, nosuspention impact) I think i am going to take it. The most disadvange of this car is 10k damage claim, as you said for most of buyers won't take over the car when they saw such record.

Well, the value of purchasing the car for me is half and half if everything goes ok.....it's really hard for me to make decision anyway.

let's check the checking result first then say somethingelse.

 

highly recommend NOT to go Carter Honda.... Very very very bad service...

 

if you are paying that much for a vehicle, I'd shop around longer unless you have an immediate need for a car.
I'd buy an older car with no accidents and low KM than the newer one with an accident.
My 2 cents... There are many older S's for sale at this time of the year with super low KMs, used as a summer vehicle only.