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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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Replying to: 23109vc (Apr 06, 2007 9:42 am) Car_man Host Prices Paid Forum |
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got a dealer to $5000 out of pocket at signing and $320/month for 36 months with 12k miles/year. all costs, tax, etc included in this. good or bad deal?
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Replying to: dwynne (Apr 06, 2007 11:08 am) I can't get over how easy the software is to use! I punched in the numbers into my Palm and compared that to LeaseCompare and it is a match so I now have confidence with the application. I'm still foggy on how you were able to help some of the other people posting their lease rates by working backwards, but maybe that will come to me once I've worked with the program a little bit. Again, thanks for the link and tool... this will be the best $10 I've spent.
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Replying to: accelerator (Apr 18, 2007 6:44 am) Keep in mind on the LeaseCompare numbers they have rolled the lease fee into the deal so all that is due is first month. You have to add that to the cap cost you enter to make the payment work out - but you are not required to roll the fee in when/if you actually did a lease with them. With the tools I have, I just use trial and error to work the numbers backwards. If you take the "deal" on the Honda web page it shows the net cap and residual, you know the term is 36 months. There can only be 1 MF that makes the payment they show - I worked it backwards for 0.00280 and the car_man confirmed it (from the lease offer sheet from Honda). So you just plug in what you know and guess at the MF, payment too high means MF too high, change and retry, etc. Now you are all set - you just need for Honda to offer that cheap rate again  Dennis |
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These numbers are: April 07, April 06, % change, YTD 07, YTD 06, % change. S2000 533 645 -10.5% 1,378 1,987 -30.6% Even with the $2k dealer money they only moved 533 cars last month, down 10.5% from last year. YTD is even worse, down nearly 31%. Either more dealer money, cheap financing/lease, or both may be coming this month????? Dennis
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Link to lease deal Not what I had hoped for/expected: 2007 S2000 Featured Standard Lease $349.00 per month for 36 months. $4,309.00 total due at signing. Offer Details FEATURED LEASE: Closed-end lease for 2007 S2000 Manual Transmission (Model AP2147ENW) for $349.00 per month for 36 months with a $3,365.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $4,309.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee, capitalized cost reduction, security deposit. Security deposit waived in featured lease example. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Security deposit waived in lease example. Not all buyers may qualify. Subject to limited availability. Through 05/31/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2007 S2000 Manual Transmission vehicles (Model AP2147ENW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $34,845.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $27,560.36. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $12,564.00. Option to purchase at lease end $19,861.65. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details. This looks like a MF of 0.00285 or 6.84%, not a great deal. If you take the $4,309 down and take out the first month and acq fee you end up with $30,925.36 as the selling price VS an invoice of $31,604. I would think when you could get the car for $2,000 under invoice for a similar MF it would have been a better deal. Dennis
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Replying to: dwynne (May 02, 2007 10:13 am) sot heir lease dealisn't even as good as what some dealers will sell it for to the costco people... if i were in the market for one i'd wait
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Replying to: 23109vc (May 03, 2007 5:30 am) I paid invoice for my 05 (no dealer money at the time) and if I were to get an 07 I would expect to pay invoice - $2k or just a little higher. In the old lease deals the money was under 2%, so even without the dealer money a lease at invoice was a great deal - a better deal than $2k under and 6.84% lease number. If I were buying, I would buy now at the right price. If I wanted a lease deal, I might wait another month to see if they sweeten the lease deal. Dennis |
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Also posted this on the prices paid forum . . . Pricing info FYI: Received an unsolicited email today from a SF Bay Area dealer with this price.
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Replying to: rujo (May 03, 2007 2:39 pm) It could also be an 06 car, some dealers still have them on the lots. Dennis
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