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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
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I'm a little too far from GA, but the pricing info helps. My best leverage is that my local dealer has had the same red and silver cars for over a month. The lease deal, which I would have preferred but couldn't do at the time, didn't move 'em. The CA economy as elsewhere isn't helping the sale of "impractical shoes". I can make the offer and see what what happens ... the end of the month is upon us.
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Replying to: bonvivant (Jul 27, 2008 1:39 pm) I would use the dealer locator on the Honda page and start contacting dealers in an ever widening circle from your location and see if you can find someone with the right color S in stock that is willing to price it right in a similar "Internet sale". The current lease MFs are poor: 0.00280 for 36 months and 0.00265 for 48 months compared to the 0.00073 I got back at the end of May. So combining the current purchase incentive with the cheap financing to purchase from AHFC seems like the only deal now. There has been a lot of news lately about the captive lease banks taking it on the chin over residual values. They have always used inflated residual numbers to make for better deals and then figured they would worry about the future value when the car was turned in. Certainly the auction and trade values of my 05 were not even close to the residual and mine was in nice shape with real low miles. Then you add in the total collapse of the used truck and SUV market and folks returning those are just killing the captive lease banks (3rd paty banks too, but not as bad). The S used to have a really strong resale but that is eroding as well - too many on the market, limited audience, too many other options. The residual on my 08 lease is more than $1k less then the residual was on the 05 and the 08 is not likely to be that valuable at lease end even with the drop. So this all adds up to saying that cheap lease deals may be getting harder and harder to do. I have said it many times before - when they give you a cheap lease deal they have to sell the car twice: once to move it off the lot when new and again when you turn it in at lease end. If they SELL you the car no matter how much they have to discount the price, the rate, or both then they are done with it. So often times you will see them run cheap leases for a bit and as the end of the model year closes in they move to cheap sales and not attractive leases. Possibly in the future they just may skip the cheap leases completely? Dennis
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Replying to: dwynne (Jul 27, 2008 3:15 pm) Thanks for the tip about widening the search if necessary. |
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Replying to: dwynne (Jul 23, 2008 7:30 am) i thought that was too high... if this is the case of of paying 499 for the car WITH taxes up front i am better off paying an extra $50 and getting a 335i sedan with everything rolled in. im gonna wait it out a few months hopefully they MF comes down on the car as it nears its final year of production. i was looking to spend max $400 a month with everything rolled in on a 36 mo lease on an 08. i figured it would be possible with the promotion they had as the first price the guy gave me was 440 so there was room to get it down closer to 400. but that was under a promotion so we'll see.
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Replying to: aramism (Jul 29, 2008 8:57 pm) 
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Replying to: accelerator (Jul 30, 2008 5:20 am) Joe
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Replying to: legendguy1 (Jul 30, 2008 8:07 pm)  . I think if they replace the S it will be with something more mainstream and more "Accessible" to the general public. The S sold in nice numbers when introduced but the mild updates and not stemmed the tide of slow sales. As a "halo car" it is a nice one, but I would not think they are making much profit with such low sales and near constant incentives. They eventually dropped the NSX no matter how nice the car was it just never sold well. The C&D new car issue came out the other day and they say the S will carry on for 09 as well. Dennis |
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As Dennis pointed out in detail the lease deal that ended 7 July was a VERY good deal. Low out-of-pocket costs with a low payment and guaranteed "buy back" after 3 years is just really hard to beat ... especially for those of us closing in on retirement with a lot of current expenses. Word the S will soldier into 09 gives confidence that the car will continue to be available; at what price is the unknown. The S market is soft. Likely, leftover 08s will sell at a bigger discount as selection goes away, and likely without a good lease deal. MSRP on 09s will likely rise a bit given the dollar's weakness, and initial discounts aren't likely to best the $30K and change price available on cars out there now. Whether a great lease deal on an 09 S comes round any time soon is doubtful. This makes the argument to try to buy now compelling. The BIG sticking point on buying is the matter of either big down payment or a big monthly payment. (Of course, the idea of what's "big" is relative ... to think I used to think I could afford a new Boxster.) Any words of wisdom to help escape this darkness is appreciated. How much could a guy lose by waiting? Timing can be everything, neh? 
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Replying to: bonvivant (Jul 31, 2008 2:08 pm) Dennis |
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Replying to: dwynne (Jul 31, 2008 5:05 pm) Local dealer with whom I think I could work has a red and also silver car. A lot of cars can't wear red, and the New Formula Red is a great red. So, naturally, when I mention to my better half I might go for the red S, she rolls her eyes and quotes my past about waving a red flag in front of a bull -- or in this case, the CHP. That's what I get for telling her how I used always get pulled over when I was MUCH younger and had 66 Alfa Spyder --red, of course. What's been your experience with your red cars? And -- finally -- I'm guessing a dealer's more likely to cut the best and quickest deal deal on a car he's had on his floor for over 5 weeks, as opposed to having to jump through the added hoop of a dealer trade. Make sense?
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