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Prices Paid: Buying & Leasing Experiences Honda S2000 Lease Questions
270 messages, Last post on Dec 01, 2008 at 5:20 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Well, I'm back to let you know of my dealings. After much research, etc....blah, blah, blah. I am finally pulling the trigger on the S2000. Just talked to Norm Reeves Honda (apparently #1 dealership in volume in the world - like that really is supposed to impress me). They say that I should be able to get the price of my S2000 to about $360/month + taxes. Essentially they are letting me off the hook with putting all that money up front ($2,499 cap cost reduction). Just rolling in it over into the 36 month lease. Do I think it is a great deal? Well sure, b/c the acquistion fee is rolled over the 36 months as well and no security deposit. Get a car without very much money down. I'll get in there and see what hidden fee they'll conjure up. the saga continues.... This monday is when I'll set aside some time and head in there to talk things over. The best part is that I can completely walk away from the deal...Should I? over $20-30 a month when all the other conditions are good? |
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Hi oceanexprt. Yes, like most banks Honda Finance will allow consumers to lease vehicles without making any sort of capitalized cost reduction. In fact, it is in your best interest as a consumer not to put money down when leasing. Eliminating the down payment from Honda's advertised lease will make its monthly payment higher, but figuring out exactly how much higher is not quite a simple as dividing the advertised down payment by the number of months in the lease and adding the result to the monthly payment. If you let me know the full MSRP and selling price of the S2000 that you are interested in, I can calculate what its lease payment should be for you without any money down. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi ajpbf7. Unfortunately, Honda did not renew its special lease program on the 2005 S2000 for the month of October. It replaced the special money factor that it was providing on this car with $750 dealer cash. That doesn't mean that you can't still lease one, just that the money factor will be higher. If you decide that you still want to lease an '05 S2000, make sure to take this dealer cash into account when negotiating your vehicle's capitalized cost. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 09, 2005 6:30 am) |
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You're welcome ajpbf7. 's exact money factor and residual value will vary depending upon how long you want to lease it for and how many miles per year you need to be able to drive it. For now, I will provide you with its 36 month, 15,000 miles per year lease program. Let me know if you need information for a different term or mileage allowance. If you were to lease a 2005 Honda S2000 through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 56%, respectively. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 19, 2005 2:18 am) if i base it on the purchase price of the car at dealer invoice, how much a month would that be with zero down meaning zero cap reduction? of course taxes, registration would be additional.
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Replying to: oceanexprt (Oct 19, 2005 10:22 am) -Dave
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Replying to: dknightx (Oct 19, 2005 12:34 pm) thanks again. |
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Hi oceanexprt. If you were able to lease a 2005 Honda S2000 at dealer invoice, the dealer that you get it from would make the $750 dealer cash that is available on it right now on your deal. Let's estimate what this car's lease payment should be alike at this price. According to my calculations, if you were to lease an '05 Honda S2000 with an MSRP of $33,700 and a selling price of $30,370 (dealer invoice) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $428, assuming that you pay a security deposit, Honda Finance's $595 acquisition fee, and qualify for its top credit tier. This lease is a little higher than it would have cost to lease this car a couple of months ago because Honda is not providing lease support on this model any longer. Car_man Host Smart Shopper / Prices Paid Forums |
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