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Prices Paid: Buying & Leasing Experiences Honda S2000 Prices Paid and Buying Experience
416 messages, Last post on Oct 10, 2009 at 7:11 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: legendguy1 (May 28, 2008 6:30 pm) 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. Dennis |
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Replying to: dwynne (May 28, 2008 4:41 pm)  You were very helpful to me when I was shopping so I cannot thank you enough.
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Replying to: accelerator (May 29, 2008 5:15 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:  Dennis
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Replying to: dwynne (May 29, 2008 6:53 am)  kyfdx
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Replying to: kyfdx (May 29, 2008 8:03 am) ? 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? Dennis
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Replying to: dwynne (May 29, 2008 8:12 am)
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Replying to: legendguy1 (May 29, 2008 3:47 pm) 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 . Dennis
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Replying to: dwynne (May 29, 2008 6:09 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! Joriz
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Replying to: joree85 (Jun 01, 2008 11:53 pm) In any case, here are the details: Vehicle: 2008 Honda S2000 in New Formula Red and black leather Options: none MSRP: $34,935 Invoice: $31,689 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. Dennis
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Replying to: dwynne (Jun 02, 2008 9:02 am) I am having trouble finding the numbers to get from the invoice price of $31,689 to your price of $30,247.37. Did you get holdback and the lease incentive? Was the holdback 2% or 3%? Thanks a bunch...Sorry for being difficult!
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