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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: accelerator (May 16, 2007 8:49 am)
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Replying to: habitat1 (May 16, 2007 2:52 pm)  To be honest, financing a $30k is out of my budget since my wife is starting her own home-based business and we aren't sure yet how it will do. Leasing is the only option for me. I may have to drop off the forums once I do the deal because Murphy's Law says that after you sign the deal, you'll find an even better deal next month.
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I'm now the proud lesee of a 2007 Rio Yellow S2000 and I couldn't be more happier with my decision. I thought about waiting til next month to see what offers would be around but became impatient. I got an incredible deal on the financing terms. Could it have been better if I waited? Maybe. I got much lower than the .00285 money factor and given I rolled over almost $1000 of negative equity, I couldn't be happier with my monthly payment of $360.00 (not a penny more). I may not be posting for a while as I'll be out driving... Now what do I name her?  I'm thinking "Little Miss Sunshine" 
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Replying to: accelerator (May 18, 2007 7:40 am) I went back to the dealer today to take a close look at his inventory once again, and am thinking about switching from silverstone to new formula red. The red car is in exhibition and unfortunately it has 26 miles (I would prefer less than 10) on it, but it looks like fresh from the truck. Any comments about that relatively high number of miles at the time of purchase? Again, best wishes with your new toy.
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Replying to: donquixote30 (May 18, 2007 10:23 am) My understanding is that they will all have at least 15 on it from Honda as it is part of their quality control. I'm sure someone here can chime in and confirm that. NFR was my 3rd choice color coice. When clean, the NFR looks almost like the paint is still wet. GPW was first choice with LBP my 2nd. Rio yellow wasn't even in my top 5 until I saw it in the sun and WOW! It is absolutely beautiful and I knew I found my baby! You could judge the stock number as to it's actual age if that would help. My two cents would be to look at the tires if you are concerned with HOW the 26 miles were put on the S. Look for the little rubber tits (I don't know what else to call them) and look at the edge of the rubber to see if it looks like threads have have been ripped. Make sense?  Your dealer wouldn't have to know about your work schedule. You could tell them you have family here so it would be easy to justify a visit. Perhaps if they wont match it, maybe meet half way? Perhaps they can offer a lower money factor if you are leasing? I have a 4.00 interest rate, no security deposit and something else was waived but I can't recall what it was. I simply am paying for sales tax (required by law) and interest (again at 4.00% or in money factor terms, .0017). I found there are a ton of options available to the dealer, IF they want to sell the car. Heck, it may take some time but if you have multiple honda dealers within a close proximately, make/allow the to bid for your business. Keep us posted with what you find. Keey in mind that a new incentive will be out next month. Honda's special lease rate, IIRC, will be better deal than the deal I got, I believe. If the dealer has a large inventory and you are not at risk of missing out on the color you want, you may want to wait. Telling the dealer you want to wait may be enough incentive to help them sell you the car. You can also mention you are going to check out the Sky Redline/Solstice GXP in the meantime. Then see if they present you with anything attractive.
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Replying to: accelerator (May 18, 2007 11:27 am) If this is the last year of S2000 production, as it appears to be, I intend to keep the car for the long pull. Leasing, therefore, is not in the picture. Thanks for easing my concerns about the 26 miles on the odometer. I'm a bit paranoid about the "high-rev test-driving style" that may have taken place already. Yes, I looked at the tires and to every other conceivable indicator of use and or abuse. It may be wishful thinking, but I theorize that a car standing on the sales floor is less likely to be test-driven than those on the dealer's lot. It is possible, therefore, that the car was delivered at the dealer's storage site several miles away, and for being red, it was chosen as a sales floor exhibition item.
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Replying to: donquixote30 (May 18, 2007 12:53 pm) Here is my thinking with the lease/buy route... $30k is roughly a $600/month car payment at a finance rate of 6% (rounded for easy numbers). Through my lease deal, I'm paying $360 at 4%. I can invest the difference ($240) and make more than 5%. Heck, even opening up an immigrant account will earn me 5%. My thought is that I will be in a good position to move into Honda/Acura's next great sports car.
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Replying to: accelerator (May 18, 2007 1:17 pm) |
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I placed a deposit on a new s2000 over the phone. The salesman indicated that the color I wanted was in the storage site, with plastic coverage on it. However, when I got to the dealership, I found that the car was not at the storage site but rather at the dealership itself and clearly available for test driving. It had already 18 miles on it. I was immediately invited for a test drive. The engine felt tight and pulled more than I expected, the car was supreme. Yet the 18 miles on it are a sore point as it is obvious that it has been test-driven by multiple drivers already. The sales manager himself indicated that S2000s arrive with approximately 4 miles on the odometer. The excuse for the relatively high mileage was that the car has been driven back and forth from the storage site a couple of miles away. Discouraged by the potential problem of a test-drive car, I targeted the one on the sales floor, assuming that such a car would be less likely to be taken for a test-drive than those on the lot. The car looks like just-off the truck, yet I found out that it has 26 miles on it! We all know how sensitive high-rev engines are to break-in abuse, thus the thought that an enthusiastic kid may have rev it up to or near the red line without appropriate warm up concerns me a lot. Any thoughts please!!!
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Replying to: donquixote30 (May 18, 2007 2:46 pm) My 2002 S2000 was also off the showroom floor and had 10 miles on the odometer. The sales manager appeared professional and claimed that the only miles the car had been driven were him taking the car for a 6 mile easy drive and gas fill-up. He did it with all the S2000's to make sure the car felt and sounded right before the sale. On cars that did get short test drives, he or one of his senior sales people went along to make sure of no abuse. They also didn't allow test drives by anyone under about 25 that didn't appear to have the abilty to purchase. Another dealer I went to at the time was far less professional (Rosenthol Honda, Tysons Corner). They literally tossed the keys of a new S2000 (still with plastic wrap) to me and said "let it rip". I wouldn't buy an oil filter from them, let alone a car. You may have to satisfy yourself with the professionalism of the dealership and their test drive practices, rather than try to find a new S2000 with only 3-4 delivery miles. If it's anly consolation, I never had any issues in 18,000 miles with my S2000 and have never had any issues with my 2005 911S that had 40 miles on the odometer when I purchased it. Same deal - sales manager went along for all rides. And, fortunately, fewer boy racers pass the "can afford" test on the 911. Good luck.
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