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Honda S2000, Convertible
#401 of 420 Re: Conundrum? [dwynne]
Aug 05, 2008 (9:16 am)
thanks for the info by the way.
#402 of 420 Re: Conundrum? [aramism]
Aug 16, 2008 (9:56 pm)
i always wondered this. can a dealer touch the money factor. is there yield spread and stuff like that or is it a rock solid rate. i would imagine the dealer has the ability to juice up a money factor to make some back-end money from the bank no? i know they can goto different banks like han and whatnot but as far as let's say a honda dealer dealing with AFHC bank.
#403 of 420 Re: Conundrum? [aramism]
Aug 17, 2008 (6:34 pm)
Normally, the AHFC payment will net out to less than a 3rd party lease bank. The residual is normally inflated over with a 3rd party bank will do and when on special the rate will be a good bit lower. It always pays to check to see if you can get a better deal - or simply wait until AHFC has a special deal, as no other bank can touch that.
Dealers can mark up the money factor for extra profit for the finance department. They can also mark up the $595 bank wee for more profit. They can't touch the residual, it is set by AHFC. I don't know if I have ever heard of a Honda dealer mark up a lease rate, but I assume somewhere some of them do this. High end dealers (BMW, Infiniti, etc) often do this and it can be hard or impossible to get a lease at the buy rate.
#404 of 420 Re: Conundrum? [dwynne]
Aug 17, 2008 (10:19 pm)
hmmm. well i mean i know that they do have other banks like HAAN financial however from what i heard (not sure how true) that they are very strict when it comes to wear and tear wheras with honda bank they give you the $1500 allowance even on smashed bumpers and stuff which i know is true as my mother had a civic and all stuff upto $1500 was waiged and she had a bill for literally like $6.00 or something. it is good to have as driving in NYC only god himself can keep a car totally mint in even just one week. rim dings, bumper scratches are irrelevant even if you are a perfect driver.
i mean i'm just gonna wait for sept and call up a bunch of dealers and get the specs on their offered deal. MF, resid, cap cost, etc. and theoretically if the MF is set by the bank and is rock solid then every single dealer should tell me the same MF and the only difference in any of the variables should be the cap cost, or the cost they are selling the car to the bank to or however that works, the "loan amount" on the lease. every other variable should be identical otherwise someone is either lying or they can go in and mark up or buydown the rate.
Aug 25, 2008 (5:24 pm)
I found a brand new 2007 leftover in the color I wanted (yellow) and got it for $26,500 plus a $99 doc fee. I plan to keep it for a number of years, so I think resale will be just fine with '07 vs '08 (plus I like the wheels on the '07 better). Even with 4.9% vs Honda's 2.9%, payment is better and I've got a great car for almost half of some of the competitor cars! I couldn't be happier.
#406 of 420 Re: Proud new owner [confused13]
Aug 25, 2008 (6:56 pm)
Yes, it sounds like you got a really great price. Superior Honda of Omaha, NE, also has a leftover 2007 in yellow on their showroom floor. The MSRP is about $34,500 (I rounded off) and they are advertising $6,500 off, or $28,000. I thought this was a good price. If you were able to negotiate another $1,500, you did very well.
#407 of 420 Re: Proud new owner [confused13]
Aug 26, 2008 (6:15 am)
Nice job and nice find, yellow is the best color if I do say so myself. I too, like the wheels on the 07. Takes forever to clean the spokese but as dwayne said, his boss's son cleans his car so the spokes don't bother him. For the rest of us, though... When the car is clean, even under a bright moon, it simply sparkles. That pearl finish is awesome. Wait until September, you are going to have a great time in this car (still a little warm here in Texas for top down diving except at night).
Congrats and welcome to the club.
Oct 04, 2008 (5:06 pm)
You'll notice the last one applies to yellow S2Ks.
#409 of 420 Re: Yellow [estreka]
Oct 06, 2008 (6:34 am)
Good thing my top is rarely up or that might apply to me!
#410 of 420 new 2007 leftover
Oct 11, 2008 (3:34 am)
Last week pulled the trigger on a new 2007 Rio yellow from a dealer in Omaha. NE. Couldn't resist the price, $25,000 OTD. No market for that car in Omaha. Flew out the next day and drove it across country to VA, what a trip. No regrets.