I was searching Craigslist listings across major cities in the USA looking at S-types. I see for sale many old, tired, injured, or high mileage S-types listed between $1500 and $3000.

If I find a local deal, I may purchase a couple just for parts.

Are prices hitting a new low for the early s-types because owners find out that is is more expensive to repair the car than it's worth?

 

I'd say your assumption is spot-on....

 

Agreed.
(1) Based on anecdotal evidence of how many college students and guys in "wife-beater" shirts I've seen driving them in East Tennessee, I'm betting they were bought cheap and once they develop a problem Budget Brakes can't fix, onto Craigslist they go.


(2) When shopping around for a Jaguar to replace my smashed 2005 X-Type, I saw lots of MY00-03 X and S types with truly trashed interiors and cheap aftermarket crap for the $2k to $4k range.


Of course, if you're ready to pay the repair costs, the initial purchase price makes a better quality one a DIY bargain.

 

It also seems the cars are worth twice their complete driving value in parts, which makes buying small pieces expensive but very easy to come by.