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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: dwynne (Jun 02, 2008 12:39 pm) You sure did! Thanks for taking the time to break down your deal in further detail for me. I really appreciate the time. Congrats on the deal! I'm looking at a CSM.. Joriz |
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^^^^ see what i did there? ....anyway is there still incentives on a new s2000 MY 2007? If i could get an invoice deal on an '08 + tax + dest (and I think I can). could i do better on a 2007? I know there was dealer cash in the past up to $2,500 but I don't know if it's still out there. I'm not that concerned with the differences between the two model years and I think I'll put enough miles on it and own it long enough that the difference in resale isn't much of a factor. This was to be an all cash buy not a lease although with cheap finance offers it's silly not to finance. Your thoughts? Thanks in advance.
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Replying to: dizzy007 (Jun 03, 2008 4:40 pm) With the lease incentive I was able to get my 08 for my than $1k under invoice and leased and a very low rate. A new 08 could be leased cheap or financed with a discount rate, no cheap money for the 07. To me, it would have to be REAL cheap before I would think about it. Let us know kind of prices you find dealers are asking for the 07 models. To get the best deal on an 08 you will need to work with a good dealer - one that has no 07s to sell. So get your best price from the ones with the lest over cars and new 08 prices from other dealers. Dennis |
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Civic sales are through the roof, Accord and Fit sales are strong. It is a good time to be Honda or a Honda dealer. S2000 sales still hurl and are down 40% compared to last May and down nearly 25% YTD compared to last year. 1 of the 316 sold in May was me, so I did my part  . Dennis 
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Yeah s2000 sales are weak but they must be producing less too. At the dealers near me their are are only 1 or 2 per lot so it isn't like the 40% reduction in sales is leading to stuffed lots and crazy below invoice deals. Supposedly the '07 doesn't have much demo miles. I'm not sure what "lot rash" is. I'll have to research. The car isn't that close to me and in far-to-often dealer fashion my request for a price quote from the internet sales manager was responded to with a form letter having no relevant information and a promise that someone else will give me the pricing info I have requested. Thanks for the help. If they got $2,500 I'd love to take a shot at an '07 buy at Invoice - Hold Back - $2k. So is Honda holdback officially 2% now? Thanks again,
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Replying to: dizzy007 (Jun 04, 2008 10:49 am) I always use 2% now, who cares if they make more than that by a bit? When I leased an RX-8 back in 05 I was offered a left over 04 on a "no money" deal. The guy pulled the invoice and would do invoice less incentive less 100% of hold back and would even eat the dealer doc and ad fees - just to move it off the lot. I ended up leasing an 05 for $500 under invoice less $2,500 in rebates and incentives and about a 1% rate . I would say any 07 would be invoice less incentive less all of hold back and no doc or prep fees in order to get me to take it. As I said, my price was $1,400 or whatever under invoice including doc fee - so I would still probably get the 08 since you would not be saving a that much more. Dennis |
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I understand. With the $1k incentive on lease and artificially high residual by 6 or so points it kind of pushes you towards an '08 lease. The inflated residual and the Honda Finance policy of no negotiation is not where I want to be in 3 years. Although, 3 years is a very long time from now. No call from dealer. I call and they tell the '07 sold on Saturday... it's all a moot point I guess. So I'll shoot for an '08 lease at invoice - $2k on lease or - $1k on finance with the .9% financing they offer. What is the MF on the lease deal? Thanks again.
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Replying to: dizzy007 (Jun 04, 2008 11:50 am) Mine was $1,400 or whatever under invoice due to the $1k lease incentive and some of the hold back. Had I done a purchase, it would have been $1k more - I guess. I posted the details on the lease in the S2000 lease forum. The $1k lease incentive would offset the $595 bank fee and make the car still $405 cheaper than buying it. The effective lease rate is 1.752% so higher than the 0.9 and lower than the 2.9% . A high residual means cheaper payments now and higher payments later if you buy it out. Buying is more money out of pocket or each month. Even with the low lease MF the "rent charge" (interest) on the lease will be about $1,300 by the end of the lease, plus tax on the interest (depends on the state). So if you save $1k doing the lease - $595 bank fee - $1,300 interest - $tax on the interest and compare that to a cash deal or financed deal and see how it looks. I will likely buy mine off end of lease - if Honda has quit making them at that time and I don't find anything else I like better. If the lease then buy compared to just buy comparison works out pretty close, that can be a smart way to "try" the car and let AHFC take all the risks on future value. Honda can't sell them and resale values are falling - so if you buy it then you have to worry about how to get rid of it down the road if you change your mind or something changes. I would just run the numbers both way and if lease / buy is within $1k of just buy then *I* would do the lease first. If lease / buy is more than $1k over the just buy and finance and your goal is to end up owning the S2000, then just go ahead and buy it now. Dennis |
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A reporter would like to talk to consumers who are in the market for (or have recently purchased) a Honda as a result of high gas prices. Please respond to jwahl edmunds.com with your daytime contact information, as well as your current vehicle and the Honda you have purchased or are considering no later than Tuesday, June 10th.
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I just picked up a 2008 S2000 base model. Thanks to the information on these boards, I got a great deal. Ended up going through Goudy Honda in Alhambra, CA and am extremely satisfied with the process. Went with Eddie Wang in the fleet dept. Nice person and a straight-shooter. I highly recommend Eddie and Goudy -Jerry
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