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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: rujo (May 05, 2007 12:38 pm) I also run the numbers again and it seems 0 down and 400+tax would be an OK deal with an APR of approx.6% on a 48mo/12 k deal. Leasecompare just does not seem to include any fees tilte, first month etc. which end up being around $1500 at drive off. I am currently pushing numbers with a dealer who is dying to run my credit. The only thing I am still sketchy about is whether I would qualify for a special w- AHFC (if there is one coming out) and whether other tears would benefit from it also. I have scheduled to go to the dealer again tomorrow. It would be great if anyone in this forum knows anything about how AHFC deals with it.  Thanks! |
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Replying to: tonyr313 (Apr 15, 2007 3:56 pm) For now I can tell you that it is not a good idea to pay $5,000 at lease signing. There's nothing wrong with paying the first month's payment, security deposit, etc... for a lease at signing but you really shouldn't make any sort of capitalized cost reduction. Consumers who make large down payments on leased vehicles risk possibly losing them if their vehicle is totaled in an accident or stolen and never recovered. Car_man Host Prices Paid Forum |
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Replying to: dwynne (May 01, 2007 3:00 pm) Car_man Host Prices Paid Forum |
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Replying to: 23109vc (May 03, 2007 5:57 pm) Car_man Host Prices Paid Forum |
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Replying to: accelerator (May 04, 2007 11:17 am) Vehicles' residual values are based upon their full MSRPs, including the destination charge and any factory installed options. I am not sure if Honda Finance allows the dealer-installed options to be residualized. The capitalized cost for your lease is whatever price you negotiate. If I was in the market for an S2000 right now, I personally would shoot for a price of around dealer invoice minus the $2,000 dealer cash as you mentioned in your post, but there is no guarantee that you will be able to get hat price. General Motors is no longer offering leases on 2006 models. If you want to lease an '06 Pontiac Grand Prix, you will have to do so through an independent bank. I have to tell you though that this late in the model year the residual values of leftover 2006 models have dropped so much that they probably are going to be unreasonably expensive to lease. Car_man Host Prices Paid Forum |
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Replying to: cantwait_s2k (May 04, 2007 11:09 pm) When the dealer told you that a special lease program on this car would not benefit you they were incorrect. When Honda offers special lease money factors on a vehicle, it provides lower than normal rates for all credit tiers, not just its top one. While you might not qualify for the lowest available lease money factor if Honda introduced a special lease program on the S2000, you would qualify for a factor that is better than what you would normally have to pay. Of course, there is no guarantee that Honda will introduce a special lease program on the S2000 in the near future. Its current program is scheduled to run through July 2nd. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on the deal that you were quoted if you let me know what these numbers are. Car_man Host Prices Paid Forum |
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Replying to: Car_man (May 10, 2007 2:18 am) Your thoughts? Thanks.
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Replying to: accelerator (May 04, 2007 12:32 pm) If I put in a new 07 with a selling price of $30,500 (conservative) it comes up with $18,468 0.00258 $485 - so for less money you could lease the 07. Payments would go lover the lower you get the price. $454 a month if you could get the price down to $29,500. Dennis |
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Replying to: accelerator (May 10, 2007 5:18 am) Dennis |
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Replying to: Car_man (May 10, 2007 2:18 am) Using my handy-dandy little lease calculator, I come up with the same monthly payment, but what I'm still a little confused about is what to figure in for misc. fees. I know with financing, you have the doc fee, title fee, inventory tax, license fee, and sales tax. On a $25k car, that adds up to $1845 so the amount being financed is $26,845 (assuming no trade). From this, I can figure what monthly payment would be and I'd be accurate +/- $15 depending on when the first payment would be due. When I went to the dealer, he said my calculations were off but he would not necessarily say where or why and yet when others post their numbers on this forum, I'm able to able to come up with very near figures to what dwayne and Car_Man have posted (I work through all their examples). I'm so frustrated I'm having second thoughts about even getting the S (okay, not really, I want the car too much) but you know what I mean. On a lease, do I still pay those fees I mentioned above? Car_Man posted in a different response to me about if $45 is too much that I might not want this car. While $45 wont break the bank, I just want to make sure I'm not getting rear-ended in the deal by the dealer sneaking in bogus fees. I found a lease worksheet on edmunds site and another one on carbuyingtips.com which are very helpful but again, you have to know the fees they are inserting just because and which ones they are inserting so they can bump up the cost. Frustratedly yours, accelerator
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