My fiance is looking to buy a car. I have found a 1998 Type R with 45k. The car is stock and is in excellent condition both interior and exterior. I was just wondering what is a fair price to pay for the car?

 

http://WWW.KBB.COM

 

Somewhere in the neighborhood of $17,000 - $18,000 sounds right ...

 

Did you actually check it yourself? 1998s are not listed. This has been discussed a thousand times.

 

$15,827.45

 

I would say around 17k up depending on mods and condition.
Mods Im thinking 18k and up.

 

$17k sounds about right.

Mods add NOTHING to the value of a car.

 

Pay what ever it is worth to you to have the car. No one else can make that
decision for you.

Paul

 

I think the guy was looking for the current market rate for a 1997 Type-R - not some California public school touchy feely *****.

 

woah!! I thought no one had any confirmed numbers of how many R's there were in the US. Anyone have similar proof of how many '00 and 01's there were?

 

actually, to you. it is listed for 1998.

however i dont think it represents the true value.


[Modified by 00-0187, 5:08 PM 6/21/2002]

 

The car is worth what ever it will bring on the market - If some idiot is willing to pay $18K for it, then it's worth $18K - this guy needs to figure out how much it is worth to him to own the car - $15K? $16K? $20K? - then if he has his finances in order, make the offer to the owner. Either the owner will sell or he won't. If he does, then the guy bought a car he wanted for a price he thought was fair and both are happy - If the owner won't sell, then the guy needs to keep looking or revise his notions of the car's value, or pick some other car to want. I have found that, generally, people have a really inflated notion of what their cars are worth, and with a specialty car like this, it can be even trickier. I'm not giving a 'touchy feely sheit' response, just a factual one.

Paul

 

Not in my browser it is not?! It says 'No value available'. What number did you get?

 

I picked up mine for 17k, bone stock and near mint condition. It had 48000 miles.

 

I would not pay over 16,500 plus TTL (like the previous owner didnt drive 48,000 "type-r" miles,if you know what i mean) ...other than that i think getting an R is a bad idea as it will probably end up as an ins claim like over half R's do its friday

 

Really? I thought the guy was looking for the current market rate for a 1998 Type-R.

 

I have seen alot of 2000 ITR's going for 18-20000.

 

I must be the only person on this board with the exception of a few that would like to keep the resale value high on my car. What the hell is this I wouldnt pay over X for the car crap? Yes a car is only worth what someone is willing to pay for it, but with a rare car such as the ITR, it works both ways. If everyone stuck to their guns and wouldnt sell their cars for 15K and held out for 17,500 to 18,000 then we wouldnt have this problem. I am seriously considering selling my car, but I would rather the MFer rot in my driveway than sell it for 15K. If I dont get a figure really close to 18K for it, then by god it will rot in the driveway because its worth more to me than that. Mabey if you guys would stick to your guns and stop offloading these cars the resale would be better. Also, I wouldnt buy a modded car if my life depended on it, so I dont understand why people value a car with mods more than a perfect clean stock example? Someone please explain this to me. To answer the question, I would value a clean STOCK 97-98 ITR with lower miles IE under 50K to be worth close to 18K and if some people around here would stop telling people that the car is worth far less mabey you could get close to that back out of it when you go to sell it in a year or so. If im wrong, i would be happy to debate further. Just a thought, I wonder if anyone that is saying the car is worth between 15-16,500 even owns a Type R? If not, Im not sure these are the guys that you should be listening to.


[Modified by JSITR, 1:06 AM 6/22/2002]

 

No, but you might be the only person on this board who thinks that lying about recent sale prices on this board will drive prices higher.

Fine, then keep it. Because you're not likely to get 18K for it, unless it's got super low mileage on it (like 10K miles or so) and is in pristine condition.

Sure, I'll be happy to. And I'll preface by saying that I wouldn't buy a modded car, either.

The first fact is, a stock car is generally easier to sell, because people who want a stock car will want to buy it, and people who want to mod a car themselves will want to buy it, too. A modded car appeals only to people who want to buy a modded car. So it has a much more limited market. With a smaller number of buyers, it's harder to sell. However, it MAY sell for a higher price. Or, it may not.

Let's say you have a car with mods A, B, C, D, and E. And let's say, if it were stock, it would be worth $15K. Let's say that those five mods cost $10K (parts and labor. Suppose there were a buyer who wanted to buy a car and do THOSE EXACT MODS. He could buy a stock car and do the mods and wind up paying $25K. Or, he could buy that car, pay let's say $20K, and get the car with the mods he wants, and be happy as a clam.

The reason that this doesn't happen all the time is that there aren't a lot of people out there who (a) want the exact mods that are on a car for sale, and (b) are willing to buy a used car instead of doing the mods themself, and (c) find out about such a car at the exact time that they're in the market for it. In fact, it's so rare that often it's even harder to sell a modded car for the same price as the car would go for when bone stock, let alone more.

If there is a particular mod that is (a) expensive, and (b) has a good reputation, it may add to the value of a car. For example, a Comptech supercharger adds to the value of an NSX, because there are enough of them out there that it's considered fairly reliable and not indicative of abuse. It doesn't add dollar for dollar, but you can probably get back half of what you paid for the mod. But this is the exception; most other mods don't add anything at all to the market value of a car.

Thus, carefully-chosen and well-regarded mods MAY add to the value of a car. But in many cases, maybe most, they do not. And even if they add anything, they never add anywhere near the amount that the mods originally cost.

Hope that explains it for you.

Then let's debate further. There are people out there who are selling similar cars. Some of them might even be asking $18K (or more). But those are just asking prices, and they're not likely to get that much for them. They'll typically wind up selling for $15,500-16,500, with around 45K miles.

I do. But I'm not interested in selling mine. So I don't have any interest in artificially driving prices up.



[Modified by nsxtcjr, 8:08 PM 6/21/2002]

 

Thanks for the clarification about modded car value, I still wouldnt buy one, but thats just my opinion. As far as the value of the car goes, I still dont understand why you would want to give away money. There were 318 ITRs sold in 1997. I would venture to say that 25 percent have been stolen, wrecked, or just beat to hell and are of no value greater than an engine swap, which brings the total # of 97 ITR's left in the US to around 230, 240 cars? Of these 230+/- cars left, I would say that roughly only 5 percent are in pristine condition IE under 10K miles, never modded, sit in a garage under armed guard. which leaves only 220 +/- cars that are not going to bring collector car prices, but are still good examples. I would say that 35 percent of these cars have been driven, but well maintained, very clean, low miles IE under 50K and with the exception of a few rock chips are pretty much perfect. Thats roughly 66 cars that fit in this catagory, I believe that mine is one of them. This leaves roughly 154 97 ITRs that are have been daily driven, modded and unmodded, raced, and just throughly enjoyed. Still good cars, but not quite the caliber of a clean car. You are telling my that my car is not worth around 18K. What other cars are out there that have this strong a cult following and such limited numbers? Saleen Mustangs come to mind, and they hold their value strongly. Ferrari doent even approach this kind of rarity in its cars, so why is my car only worth 15 to 16? Is it because its just a Honda? I dont understand. For crist sake the NSX is not even as rare a car. I wonder what you value your car at? 17-18? I am not trying to pull the wool over anyones eyes, but just take a look around. At 18K my car is a steal I think. What other car for 18K will give you so much driver enjoyment, a membership to one of the most exclusive clubs, and a chance to drive around in a peice of history? I just think that you are not seeing my point. Why sell your car for 17-18 when you could get 22-23 for it? When your car was brand new off the showroom floor, if Honda had placed MSRP on the car at 29K wouldnt you still have bought it? I know I sure would have, so if we start to hold our cars in higher reguard, we can get more of our money back out of it. This goes for the people that purchase our cars from us as well, because when they go to sell the car in a years time, the value will be strong and they can get good prices on the car.

 

dont pay no more than 18k for it

 

I think you're missing the point. Yes, the Type R is rare. But very, very few cars can be sold for two thirds of their original MSRP after 4-5 years with considerable mileage. (That's a considerable amount of miles; not high miles, but not super low, either.) So the rarity of the car is already taken into account if you get $16K or more for your car, which is doable - and if you do, you're way ahead of the game.

One other point to consider in your analysis is that the '97 is very rare, but there were a whole lot more '98 cars sold (over three times as many as '97s) and they need to be considered too. Plus the '00-01 cars too. We're not talking about 300 cars here.

Because you can't. A friend of mine (Yell00ITR here) recently sold his '00. He had about the same mileage on his, plus a fancy schmancy stereo, and it was in pristine condition. He's an astute seller and knows how to go about it. He sold it for $19,500. A '00 should be worth more than a '98, because it's two years newer. What makes you think you could get $22-23K for a '98 if he couldn't get that for his '00?

Anyway, the fact remains, I think a nice '97-98 with 45K miles won't fetch $18K. But if you think I'm wrong, hey, go ahead and ask $20K for your car. (Remember, buyers expect you to negotiate down from your asking price.) See if you get any takers, and how much they offer. And if you get $18K, more power to ya!

There's one rule to all of this: It's all about supply and demand, baby. If yours were the only R for sale, sure, you could get a lot more for it. But it ain't. And there are folks out there who will sell theirs for less. Not a lot less, but less than $18K.

 

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAA...... .Lets all go out and try and ask outragous prices for our R's and try to drive up the market value.....bbbbwwwahhahahahahahahahahahahaha

 

I have had my car posted on Autotrader.com for about a week now and have had 5 offers ranging from 15K to 17K and I have turned them down. I dont think you could get 20 to 22 for a 98, but I think its reasonable to fetch that from a 00 or 01. I think the 97's and the 98's should bring about the same, great condition, 18K, poor condition 15k. Thats what I am saying. I will get 18K for the car, its just a matter of time. I am just waiting for the right person to step up. It might take me a year or so, but I dont mind waiting, I have the advantage in that I am not strapped for cash, I have 3 other cars as it is right now, so Ill let it sit. I have a rare product that is highly sought after by enthusiests and collectors alike. I fancy myself a collector, but I think I might be the only one here with that mindset. This whole scene is to young for me. I dont understand these constant modifications to a machine that is already wonderful from the factory. There is far to many "stunners, i think is the word" that want to race you ALL the time. I have never owned a car the gets so much unwanted attention. I never had this much problems in the S2000. BTW, I purchased my S2000 in early 2001 for 32,175, I had the car for 7 months and put 4500 miles on it and sold it for 33,500 to a gentleman in atlanta who was pleased as punch to get it. This is because no one was dumping the cars at the time for 27 and 28K. This is my point exactly. I will sell the car for 18K, just a matter of time. I just wish everyone else would do the same. If I cant sell it for 18K, thats fine by me, it just means that I get to keep the car Now all I have to do is figure out a way to keep these kids from harassing me all the time. BTW what the hell is a stunner?



[Modified by JSITR, 4:22 PM 6/22/2002]

 

A stunna is a kid you see rolling in a brand new mercury couger with a big apex exhaust wing,altezzas,numerous stickers(probably type-r) put on it and some lame seats with harnesses and no role cage
they usually will give you the im a badd *** look for a second and then look away...and then try to race you and lose