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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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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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Replying to: luvaudi19 (Jul 07, 2008 1:50 pm)  Congrats and to borrow from Nissan's old campaign, "Enjoy the ride!" Remember to follow the break-in procedure as outlined in the manual (I can't stress that enough). Otherwise, welcome to the club! |
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Replying to: accelerator (Jul 07, 2008 1:58 pm) I am looking for an s2000 and can't decide on new versus used. If you don't mind me asking, what did you pay before tax, title, and license? What color ext/int did you get? To accelerator: What is the break-in procedure and why is it so important? Thanks to you both. Regards, Joe
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Replying to: legendguy1 (Jul 07, 2008 2:28 pm) I ended up paying $1000 below invoice on a lease. I'll dig up the contract later, but so far the cars been great! -Jerry
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Replying to: luvaudi19 (Jul 08, 2008 7:39 am) 
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Replying to: luvaudi19 (Jul 08, 2008 7:39 am) Like the yellow A LOT also. However, I am almost 50 years old so am leaning towards the silver (family pressure). The invoice on 2008 s2000 is $3155. So you paid $3055 I am guessing? And then a lease? I would be curious to know your exact figures but that sounds very good so far. Regards, Joe |
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Replying to: luvaudi19 (Jul 07, 2008 1:50 pm) We should stop calling it the "base" model since it is not some stripper model Yaris or something  . Just call it an S2000 and if someone buys the CR they can say they have an S2000 CR . I still do get a good number of comments about my S and every once in a while someone will call it a Miata (ouch). When I had the 01 I really got a lot of questions and comments in traffic, at the gas pump, and in parking lots. A lot of them were from "Honda folks" that wanted to look at the S2000. They are not rare cars on the road now (as much) and for sure not hard to get from a dealer, so a lot of that has died down. I noticed on my latest insurance that the 08 S costs MORE to insure than the 08 G37 which is something of a shock given the HP and price of each. I am guessing more S2000s are falling into the hands of folks who are wrecking them and driving up the insurance rates for us all. Dennis |
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