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Honda S2000, Convertible
#338 of 420 Re: Price for 2008 s2000? [dwynne]
May 28, 2008 (6:30 pm)
Did $30, 247 include sales tax? What was your out the door price? Real good deal you made. I wish that Honda was not selling the Club Racer as well as this dilutes the number of standard s2000s available (assuming that they all come from the same plant in Japan). Also, I don't think the CRs are selling well. On ebay there is a yellow CR and a black CR with starting prices of 29K (on a car that lists at 38K!!). So if just one person bids the starting price they will be gettin 9 grand off the list price of the CR. Would be quite sweet to get that off a regular s2000! But my point is that there will be fewer regular s2000s available because of the CRs Honda is building.
#339 of 420 Re: Price for 2008 s2000? [legendguy1]
May 28, 2008 (6:51 pm)
The price was for the car, destination, and dealer fee. TTL would be extra.
S2000 sales are so slow the CR should have no effect on them, every dealer is likely to have several to choose from - and some do have 07s sitting on the lot.
You can get cheap financing (2.9% for 60 months, IIRC) on the S2000 right now. If you were planning on financing you would have to run the numbers to see if waiting for a lower price but higher interest would save you more than getting the cheap money now.
With the cheap lease rate and the $1k dealer lease incentive, you could lease your S and then (if you want) buy it for the residual at the end of the lease and come out pretty good.
I went ahead and pulled the trigger because the price was so insane and the lease was cheap and this was the last NFR they had at this dealership (and probably would not be getting in more in).
New, still in the plastic with 9 miles on it - from the factory and the PDI at the dealer - and of course bright red.
I was afraid if I waited someone else would get it and I would be stuck with another color or having to pay more from another dealer.
This is my 3rd S, after the 01 and 05, and I love it. On the long drive back home with the top down I got 28.67 MPG for a new car, going 65-75. I got 23-24mpg commuting in the others and expect the new one to get about the same.
#340 of 420 Re: Price for 2008 s2000? [dwynne]
May 29, 2008 (5:15 am)
Hey Dennis, you finally did it! Congrats on the repeat purchase! I just passed the one year mark since getting mine and I still love the car. This is the first time EVER that I haven't been tired of the car or looking for something else by now. You were very helpful to me when I was shopping so I cannot thank you enough.
#341 of 420 Re: Price for 2008 s2000? [accelerator]
May 29, 2008 (6:53 am)
The only thing wrong with leasing the same car 3 times in a row is that is does not really seem like I am getting a new car .
I thought I would keep the 01 when I got it, but the cheap lease and invoice selling price I got on the 05 (plus getting early lease buyout money for the 01 as a trade) convinced me to upgrade the car. I said then it was a keeper and I could not see getting something else.
This time the high residual / buy out price on the 05 and the insane low price and low lease numbers coupled with the 08 upgrades and longer factory warranty convinced me to upgrade again. I am thinking in 3 years there may be no more temptation as I don't think they will still be making the S by that time (but we said that 3 years ago). Also the buy out price on the new car will be $1k or more less than the 05 . If I can pass the 05 on to another enthusiast before the lease ends next month, that would be nice, but if not I will just drop it off at a local Honda dealer and enjoy the 08.
The scene in my back yard this morning:
#342 of 420 Re: Price for 2008 s2000? [dwynne]
by kyfdx@Edmunds HOST
May 29, 2008 (8:03 am)
So.. does that make three new lease/purchases in the last six months?
#343 of 420 Re: Price for 2008 s2000? [kyfdx]
May 29, 2008 (8:12 am)
But who is counting ? I did the same thing back in 05 - a new Accord for my wife and a new S2000 and RX-8 for me....
So I am a car nut, what can I say?
#344 of 420 Re: Price for 2008 s2000? [dwynne]
May 29, 2008 (3:47 pm)
What specific features of the 2008 make this such a compelling decision to upgrade from your 2005? I am shoppiong both used and new. I like the seats better in the 2006+ models and perfomance-wise, the VSA w/traction control and drive-by-wire seem compelling. The year 2004 had to be the biggest change for the s2000 though. Your 2008 has new wheels and tire pressure monitoring. I am not sure how the minor changes to seats and instrument panel would affect a person's decision to upgrade now. What do you like best about your new model? Thanks, Joe
#345 of 420 Re: Price for 2008 s2000? [legendguy1]
May 29, 2008 (6:09 pm)
My 05 lease ends next month, so my choices were to buy it at the end of the lease (which I had planned to do) or get something (I looked, nothing comes close to the performance for the money) or lease a new one. With the new lease deals, dealer incentive, and low price I got it was a pretty easy choice.
Compared to my 05 the 08 has drive by wire, VSA, headrest speakers, different wheels, maintenance minder, outside temp display, different interior metal trim, different wheels, DRLs, retuned suspension, a new (and longer) warranty, TPMS, seats, little shelf under the dash on the PAX side, and no windshield tape.
The DRLs and VSA would probably be the best changes to me, many things I don't care much about, and a few things I like better on the 05.
If the cars had been identical I MAY have still leased the new 08 anyway .
#346 of 420 Re: Price for 2008 s2000? [dwynne]
Jun 01, 2008 (11:53 pm)
I was wondering a few things about your S2000 lease (I am considering leasing one very soon). If you don't mind, of course.
What was the money factor and residual? Also, how did you find out about the S2000 having a $1,000 dealer incentive? I did not find any information about that anywhere.
Thanks a bunch!
#347 of 420 Re: Price for 2008 s2000? [joree85]
Jun 02, 2008 (9:02 am)
I thought I had posted it, but I don't see it.
In any case, here are the details:
Vehicle: 2008 Honda S2000 in New Formula Red and black leather
My price for the car, destination, and dealer fee: $30,247.37
Acquisition Fee: $595
Final Cap Cost: $30,842.37
Lease term: 36 months
Allowed Miles: 12k per year
Residual: $18,864.49 (54%)
Money Factor: 0.00073
Security Deposit: Waived
Base Payment: $369.00
With State Tax: $394.84
Amount paid at signing: first payment and $83 in tax
Note that there is a $1,000 dealer incentive for AHFC leased S2000s that is not available if you purchase the car. They do offer 0.9% to 2.9% financing, but the lease is at 1.752% effective interest and the $1k incentive wipes out the $595 bank fee and lowers the price $405 (in effect) so I think you would be nuts to buy the car .
The lease deal shown on the Honda web page runs from 5/1 to 7/7 so I assume the MF and residual will be the same through that time.
About the $1k, it is sort of obvious if you look at the lease deal online. The deal calls for a sales price of $31,698.46 (take the net cap shown and add the cap cost reduction). Invoice is shown as $31,769 so the deal calls for the dealer to sell the new car for under invoice. No way, says I, they must have incentive money on them. So I asked and was told they have $1k on lease deals or cheap money (0.9% to 2.9%) but no incentive for sales.