Last post on Dec 01, 2008 at 5:20 AM
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Honda S2000, Car Leasing, Convertible
#189 of 270 Re: trading up? [yinzer1]
Oct 08, 2007 (3:07 am)
Hi yinzer1. You really need to find out what selling price these leases are based upon because the monthly payments that you were quoted look a little high to me. The selling prices of leased vehicles are negotiable, just as if you you were paying cash for or financing them. Given the $2,000 dealer cash that is currently available on the 2007 S2000, I would not be surprised if you were able to negotiate a discount of $4,000 to $5,000 on one right now. Shop around for the lowest possible selling price that you can find and then have the dealer that you are working with calculate your lease payment using Honda Finance's current buy rate lease money factor of .00275 (for "Super Preferred" tier customers who pay a security deposit at lease signing.
Prices Paid: Buying & Leasing Experiences Forum
#190 of 270 Better to Buy vs Lease
Oct 08, 2007 (7:05 am)
I was looking to lease my second S2K, but the leases are terrible now. So I ended up buying one last Thursday, got an '07 Silverstone and paid $29,000+ tax, alarm included. I have heard of deals a bit cheaper too in different states, I'm in CO. They still had the 2k incentives, and were advertising the car at 5k under msrp, so I negotiated a bit more.
If at all possible, I recommend buying an '07 right now, thats where the best deal can be found.
#191 of 270 Re: Better to Buy vs Lease [rd1ofakind]
Oct 08, 2007 (1:15 pm)
Nice Job! I'd love to bring mine up there to the hills just outside of Manitou Springs... there are some twisties that would just be a blast in the S! If you get a chance to head up that way, hit the VTech in the canyon once, just for me!
#192 of 270 Re: Better to Buy vs Lease [rd1ofakind]
Oct 09, 2007 (1:13 am)
Congratulations on your new S2000, Robert. Get out there and enjoy it before it gets too cold . Thanks for taking the time to stop in and let us know how everything turned out. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others.
Prices Paid: Buying & Leasing Experiences Forum
#193 of 270 Re: Better to Buy vs Lease [rd1ofakind]
Oct 19, 2007 (11:31 am)
Lease on S2000 is really horrible. Honda tries hard to sell it instead of giving it for lease, they don't want to buy back this car after lease. It is really great car. I got the lowest possible quote on this car: $28,000 including destination. Now waiting for dealer to give really good rate for financing this car. If anybody interested in NJ let me know. They still one more left in red. I am getting in yellow.
#194 of 270 Re: Better to Buy vs Lease [mehman]
Oct 19, 2007 (11:38 am)
Yellow is the fastest color! I got mine in yellow, too! Congrats on the great price! Keep us posted on the developments...
#195 of 270 Re: Better to Buy vs Lease [mehman]
Oct 19, 2007 (7:28 pm)
I have a nice, cheap lease on my 05 S. I keep waiting and hoping Honda will bring back a cheap lease sometime before my lease is up - if they do I will probably upgrade to a new S. As it is, I would probably just buy mine at lease end and not get a newer S due to the unfavorable current lease rates.
I am on my 2nd NFR S, I love the color - but I DID consider yellow but just could not pull the trigger on it .
#196 of 270 2008 S2000 lease deal
Jan 10, 2008 (2:33 pm)
Hi everyone, I was wondering if some one can help me with getting a great lease deal on a 08' S2000. I have a quote of $32,300 for the car 36mon. 12k miles and $2,900 total drive offs. $339 + tax of $26.27 = $365.27 a month. money factor is .00054 and residual is 56% $19,570. I am in San diego, Ca. tax is 7.75%. Any help would be much appriciated. Thank you, cicilbri
#197 of 270 Re: 2008 S2000 lease deal [cicilbri]
Jan 11, 2008 (2:31 pm)
that seems pretty low! I called a local dealer just a week or so ago and he claimed that with minimum drive offs I'd be OVER $500/month to lease.
is this a new lease special?
#198 of 270 Deal looks good
Jan 11, 2008 (3:12 pm)
this new lease deal has the MF at .00054
the residual value on a 12k / year lease is based on a 56% residual. that's using the advertised MSRP of 34935 and a residual value of 19563.
now the website says the buyer must put down $2499 in cash. 1500 of it is cap cost reduction the rest goes to drive offs? i'm not 100% sure on that.
they say the actual cap cost is 31141.
i KNOW people have been buying S2000s AT invoice. and that is 31000 I think.
if you just ignore their numbers about how much you put down or what the cap cost is ... once you know the MF and the residual and invoice..you can calculate a potential payment.
using the honda website figures for MF and residual. and assuming i bought the car for 500 over invoice which is roughly 31500
I get a monthly payment with CA 7.75% sales tax of $400.
that's WITH tax.
now assume I just plunk down say $1500 to cover drive offs.
that brings the payment down to $355/month.
that's not bad for an s2000!