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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 (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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Replying to: dwynne (May 03, 2007 3:10 pm) And no, it's not an 06.
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Replying to: rujo (May 03, 2007 4:42 pm) Forward the e-mail to me and I will give them a call. Dennis
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Replying to: dwynne (May 03, 2007 5:01 pm) I've forwarded the dealer's email to you. I worked with Susie in late April on putting together an Accord lease deal for me - ended up with the Acura for a number of reasons. She's in the finance department - very professional and easy to work with. I highly recommend her to anyone in the SF Bay Area looking for a Honda. |
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Replying to: dwynne (May 02, 2007 10:13 am) |
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Replying to: 23109vc (May 03, 2007 5:57 pm) Monthly payment for a 36mo/12k lease would be about $424 plus tax. Upfront payment would include tags, title, dealer document fees and first month's payment. PS: If you could get the selling price to the $28,888 figure I was quoted from a SF Bay Area dealer earlier today - monthly payment would drop to about $408 plus tax. |
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Carman and others: I've read so much about leases that it has become cluttered in my head and I was hoping for a double check... Correct me if I am wrong. Part I -The first step is to negotiate selling price of car (doesn't matter if lease or purchase). -The MSRP to use in the calcualtion is AFTER dealer installed options. -Net capitalized cost to use is the invoice minus incentives. I'm trying to work the deal where I don't pay for the options and I pay the car's invoice minus $2000 creating a difference of around $7K. Part II I already know the residual values for the 2007 and the money factor; another dealer has a new Grand Prix White 2006, would the money factor and residual values change on the new 2006 being that we are now in 2007? If the values are different, would you mind posting what would they be (or would older postings still be relevant numbers to use?)? Seems to me a lease deal could be significantly better on the '06 than on an '07 given all things equal?  Thanks in advance... |
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Replying to: accelerator (May 04, 2007 11:17 am) I don't know what accessories you want or need, but generally Honda will not let them include dealer added stuff to the MSRP as basis for the lease. On a lease, you are generally on your own for stuff you want the dealer to add. Over the Accord lease forum someone had a dealer make that mistake - they put all the high priced accessories on the car and added them to the MSRP to figure the lease. The lessee ended up with a very low payment - but I am afraid AHFC will not fund the lease or the dealer will have to eat the loss - or unwind the deal. Net cap should be close to invoice less the $2k incentive and maybe plus a dealer fee. I asked for a couple of quotes and got $30,260 and $30,503 for the car, destination, and dealer fee. This is from dealers that normally are really cheap on everything. Obviously your dealer may make you a better deal, and if I were serious about a new 07 S I might could hammer them a bit on price. A lease is based on the different between net cap cost and residual factored over time with interest. The 06 would make a WORSE lease car since you can get a new 07 for about $2k under invoice. Edmunds shows "up to $750" on left over 06 S2000s - but there is probably more than that. In any case, if they gave you the 06 for invoice - incentives - 100% of hold back it might be $1k - $1.5k cheaper than the 07. When you plug in future value, the 06 will worth a good bit less. If you check an 05 with 36k VS an 04 with 36k it looks to be $1,400 to $1,500 less. So if you start with a $1,000 savings and end up with a $1,500 less residual - and likely a higher money factory, you will pay more for the older car. Check at leasecompare.com and see what they would do with either car and I think you will find that most lease banks consider the car to be "used" once the next September hits - no matter if the car is really new or not. The best thing is to wait and hope for a cheap lease deal again. Failing that, make your best deal on price and compare the AHFC current rate (6.84%) VS what the dealer could get from a 3rd party bank VS leasecompare.com and take the one that is the best deal. Dennis
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