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Honda S2000 Prices Paid and Buying Experience

416 messages,  Last post on Oct 10, 2009 at 7:11 PM

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What is this discussion about? Honda S2000, Convertible

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#136 of 416 Lease by wayde Jun 21, 2005 (1:42 pm)
Anyone least one yet under the new program? With just first payment down, how close to 299$ do you think one could get? They use 29333 as the net cap cost - if you add the 2499 into that the "sales price" is 31832... so about 1,000$ more than most people are seeing for purchase price. How much does the lease payment go up for every 1,000$ you add to the lease? Does anyone know the moneyfactor on this lease? Replies to this message: kyfdx (Jun 21, 2005 1:45 pm) dwynne (Jun 21, 2005 5:30 pm)
#137 of 416 Re: Lease [wayde] by kyfdx HOST Jun 21, 2005 (1:45 pm)
Replying to: wayde (Jun 21, 2005 1:42 pm) Each $1000 that you lower the selling price, saves about $30/mo..
#138 of 416 Re: Lease [wayde] by dwynne Jun 21, 2005 (5:30 pm)
Replying to: wayde (Jun 21, 2005 1:42 pm) I posted the MF in the lease forum:   36/36k - 59% 0.00073 MF 36/45k - 57% 0.00073 MF   If you break down the $2499 you have to put down to get the payment, it is $299 first month, $299 security, and $595 lease acquisition fee. That leaves $1,306 as a cap cost reduction. Add that to the net cap cost and you get $30,639. Invoice is $30,374. So the dealer makes $265 plus any doc fee or options. One of my local dealers said they would not sell the car for that price. Most folks are finding around invoice to just a little under is about it (the dealer has a little over $1,000 in hold back).   So if you did the deal at invoice AND paid the acq, security, and first month up front it would be $328.66 a month . Roll in the acq fee and get them to waive the security deposit (MF goes up 0.0001) and it would be $348.71 with just first month, dealer fee, tax, tags, title due.   I love my S and $348.71 + tax per month with little out of pocket is a sweet deal.   With the Accord leases they started out nice and got even nicer. I don't see how the S lease deal could get much better. They are pricing the car right at invoice (for dealers who choose to do that) and the MF is right at 1.8%. Even if the lowered the MF to 0.0002 (0.48%) the payment would only go down $27 a month. So I don't THINK it will get better later on this summer unless they put dealer money on the cars.   Dennis
#139 of 416 dwynne - by wayde Jun 21, 2005 (6:53 pm)
Thanks for the info. But the 2499 is stated as cap cost reduction and the TOTAL out of pocket is something like 3693$ (2499 + 1st + deposit + security). So the 2499 is all used for cap cost reduction... right? doesn't this give the dealer more leeway for bringing the price down? or am i misreading the terms?   From the honda website: $2,499.00 capitalized cost reduction. $3,693.00 total due at lease signing (includes first month’s payment, security deposit, capitalized cost reduction and AHFC upfront acquisition fee; total net capitalized cost and base monthly payment does not include tax, license, registration, options and the like). Replies to this message: dwynne (Jun 21, 2005 7:31 pm)
#140 of 416 Re: dwynne - [wayde] by dwynne Jun 21, 2005 (7:31 pm)
Replying to: wayde (Jun 21, 2005 6:53 pm) You read it right. I was too lazy to go pull up the details on the Honda web page so I used your number - which I thought you meant was the out of pocket.   The numbers I posted are still good - in that if you get the car for invoice and pay the stuff at signing it will be the payment I showed - or roll it all into the lease and get the payment I showed for that.   The difference is that the dealer has another $1,197 in profit than I stated IF you do the promo deal as listed. That makes in more incredible that a local dealer said they would not "participate" in the lease promo.   Also the security deposit is $300, not $299 I typed (I forgot to round it up).   With the really low interest rate I would go for rolling as much into the lease as possible and MAYBE pay the higher rate to waive the deposit.   The main is to get a lease calculator you can use either in a Palm device or online or something. Then you negotiate the price down as low as you get it then make sure they use the right money factor - then run the numbers for yourself and decide how to handle the fees and deposit.   Sorry for the confusion   Dennis
#141 of 416 s2000 lease questions.... by 351 Jun 22, 2005 (3:48 pm)
To all,   Does anyone know what credit score is needed to get the current s2000 lease offer from Honda? I just came back from the dealership, I got the price that I wanted but at the end they told me that I'm not qualify with a credit score of 640. And of course they offered a higher Money Factor of .00133 instead of the .00073. Please correct me if I'm wrong, is it true that is easier to get qualify in a leasing vs. financing (owning) a vehicle? In the past I've successfully leased a Nissan and a Lexus and they were both $33,000+ vehicle. Could it be that Honda Financial is more strict? Any input will be greatly appreciated. Thanks.   Car_man and Dennis – thanks for the info/advise from my previous post.   -Jeff Replies to this message: dwynne (Jun 22, 2005 5:14 pm)
#142 of 416 Re: s2000 lease questions.... [351] by dwynne Jun 22, 2005 (5:14 pm)
Replying to: 351 (Jun 22, 2005 3:48 pm) I would assume a 730 or so, but I guess AHFS makes their own rules.   The bump in the rate takes your from $328.66/mo (you pay security, dealer fees, tags, and acq fee at signing along with first month) to $358.80 which is a pretty good bump. The rate is still nice - cheaper than you can get elsewhere - but you will be paying $30 more a month or $1,080 over the life of the lease.   I would try to ask someone at the dealership or call AHFS and see what they say.   I would not be happy, but I don't know that I would let $30 a month keep me from an S   Dennis
#143 of 416 Leasing usually requires better credit... by kyfdx HOST Jun 23, 2005 (5:47 am)
1) Your payoff is usually higher than a financed car throughout the lease.. exposing the bank to more risk   2) The bank has to take your car back at the end of lease, also exposing them to more risk..
#144 of 416 anyone looking for a 2004 s2000 by mford Jun 25, 2005 (12:50 pm)
what is a good price to buy a new black 2004 s2000, Have one left over at my dealership don't know what price it can sell for. We've knocked off over $2500 and it still just sits there. Replies to this message: dwynne (Jun 25, 2005 1:41 pm)
#145 of 416 Re: anyone looking for a 2004 s2000 [mford] by dwynne Jun 25, 2005 (1:41 pm)
Replying to: mford (Jun 25, 2005 12:50 pm) At the right dealership, you can get a new 05 for invoice or maybe a touch under. About the best the dealer is likely to do is sell you this 04 with ZERO profit - which is about $1,000 under invoice - without money from Honda they would just be losing money at a lower price. To me, this is way too little a savings to give up one model year. A few years down the road the 05 will likely be about $2k higher in resale value.   Find a dealer that will sell you an 05 for about invoice, I can't see doing that good a deal on the 04 - so it will just continue to sit. If no dealer in your area will, just check fleabay there are several new S2000s on there with a buy it now from $29,xxx to $30,xxx .   Dennis

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