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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
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Replying to: dwynne (Apr 06, 2007 10:39 am) 0 down, 36 month lease, 12k miles $470 month + tax 0 down, 48 month lease, 12k miles $430 month + tax I told him to tell me what the residuals and money factors are, and also to see if he can do any better on the monthly payment, so I am waiting for a call back.... Meanwhile, I would greatly appreciate any input on this deal, is it worth going for?
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Replying to: 23109vc (Apr 06, 2007 10:51 am) My wife and I go "riding" in the S when the weather is nice, we don't do that in the 8. While it is a fun car, it is not "lets just go riding" fun to us. Our kids are mostly all grown now (26, 18, 16) and all way too tall to sit behind me in the 8 and just BARELY able to sit one behind the other in the 8. If you are short(er) you could kit a kid behind you in the 8 - for sure in a car seat. There is no airbag cut off in either car (keep in mind I have 05s, so it may be different now) so you would not want to take small child in the front of either - and no car seats up there. You could fit two kids (of the right sizes) fore and aft in the passenger side with ease. I was driving a sedan, then started getting a nice day convertible as a second car (Miata M, c5 'vette, 01 S, 05 S). Once the gets got older and were getting cars of their own and since my wide has a new Accord, I settled on the 8 as my "sedan". Mostly just me, but room for more in a pinch. I was also keeping a snow day/bad weather car - a Scooby-Doo Legacy AWD wagon (hey, I had a c5 'vette convertible and an M5 - which would YOU drive in the snow?) but I got rid of it and got a Scion xB. I loved the design and they dropped it and re-did it (not nearly as cute). So that and 4 snows = snow day car, and a spare car for the rest of the family (I got the auto so anyone could drive it) and I have lots of room to carry folks and stuff if I need to. Hey, I even have a 14 year old T-100 pickup for trips to the dump and hauling stuff. The right tool for the job, that is my motto  The 8 is a softer ride, but still gobs of road feel. The S even more feel but even rougher ride - but it rarely bothers me as the car is "tight" but I can see where it would put some off. What I did was to find a well used, broken in example of each and "test drive" the heck out of them before I purchased. You don't want to drive a new car that hard and it may not feel the same after some miles either. I decided I could live with both. With the weak reliability, poor mileage, and poor resale value it would be hard for me to recommend someone get a new 8. If you could get a left-over 06 for WAY under invoice or pick up a lightly used one (like mine) for cheap then it would be OK. The S is just more fun, super mileage for the performance, top down, better resale, better reliability and something I can recommend. But I don't have to drive yours or pay for it, you do Dennis
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Replying to: 23109vc (Apr 06, 2007 11:07 am) I drive over 60 miles a day so the improvement in gas mileage alone offsets the increase in insurance not to mention better for the environment... yeah, she isn't buying it either. 
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Replying to: dwynne (Apr 06, 2007 11:08 am) |
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Replying to: rd1ofakind (Apr 06, 2007 11:16 am) Invoice less $2k is $29,604, so your price is $1,183.16 higher. If that is just the price for the car and destination, that is WAY too high. You need to know the amount due at signing and how that is broken down. If $470 a month is "sign and drive" it is a lot better deal than $4k down with that payment. Dennis
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Replying to: accelerator (Apr 06, 2007 11:24 am) We talked about him buying a trailer for those Lowe's/HomeDepot trips but in the end he found a local place that rents pickups for $20 or so a day. So if he needs something that is too big to fit, he just rents a truck and goes and gets it. No trailer to store, no 2nd (or 3rd) vehicle to buy and insure, but the extra hassle of having to go do the rent. He is happy with the arrangement, though. Your insurance mention reminds me, the S2000 is about 14% more for ME to insure than the RX-8. They used to be nearly the same cost, so I think the difference is the fact that the resale value of the 8 has eroded more. Also, as used S2000s get more plentiful and cheaper to buy, more "kids" can get into them and that means more claims. More claims means higher rates for all. Dennis |
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Replying to: dwynne (Apr 06, 2007 11:29 am) 36 month lease: 58% residual, MF .00290 48 month lease: 50% residual, MF .00270 The monthly payments for the 36/48 month lease is with 0 down, sign and drive. He told me there wasnt any more room to play with, at least thats what he said, maybe if I'm at the dealership, that could change. Still high? Should I check with another dealer or two? What do you think of the 48 month lease? Its about 40.00 a month less
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Replying to: dwynne (Apr 06, 2007 11:24 am) i think the loaded up 8s are selling at or near $27-29k... I have found loaded 06s..some have the special edition"shinka" 06...still on lots for 7-8k off MSRP...so mabye 26k for a car that had an msrp of 32-33k.... if i were to sell my sedanbeater or trade it and net roughly $5k...and RX8 for 26-5k would mean i'm only actually taking on another 20-21k in debt...not bad for a much more fun car. the reliability of the 8 is a worry. i have heard a lot of stories about problems...and i assume the S2000 would be bullet proof by comparison... i think if i am looknig for a car that can fit the bill of daily driver, be fun to zip around in, and still have *some* degree of practicality - the 8 would be a great choice. for pure fun..with NO considerations of practicality the S would be better. Dennis - in terms of pure acceleration...like if you nail it away from a light and get the revs up...way up...and rip through the gears..do you feel that either the 8 or S is clearly "faster" or feels more powerful than the other..or do yout hink ti's a toss up? i test drove an 8 and i felt it was "quick" but not fast. no torque..it revved nie...but the real selling point was on the twisty set of roads the salesguy took me on..the thing just carved through turns with ease..it was one of those cars that you "connect" wtih the road in...and it was a blast to drive. i've driven high hp cars that jam you in the seat... i used to have a mega hp sports sedan (think Audi S4 type car)....and the 8 was TEN times more "fun" to drive..way less snap if you hammered it from a stop or from a roll...but if i just focused on how much "fun" i was having, the 8 won. i imagine an S2000 would be the same, only wtih the top down.whicho nt he rigth day is all that much MORE fun... in terms of speed, hadnling, and drviing enjoyment... is the 8 or S better by much? if i got one new..it would be under warranty so any issues would get fixed on their dime... so just assume either was trouble free... for cruising around, revving the stink out o fit... taking corners fast and blasting on twisty back roads... (aside from teh top down element)....do you think the 8 or S is a ton more capable than the other or do you think they are neck and neck in terms of acceleration, cornering ability, shifter feel, and that "connectedness" feeling you get forma truly great handling fun sports car??
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Replying to: rd1ofakind (Apr 06, 2007 11:46 am) 36 months is the sweet spot in most any lease deal, long enough to defer the initial loss of value but short enough to still be under full warranty the entire lease term. If you plug 0.00290 and invoice less $2,000 + $595 (lease acq fee) into the lease calc it solves to $423.66 per month + tax with $423.66 + tax due at signing. A sign and drive is a little harder to figure to the penny, so what I do is multiply the normal payment by the term then divide by 1 less than the term: $423.66 * 36 = $15251.76 / 35 = $435.77 + tax. They are quoting you $470 per month plus tax, so they are way off what would be the best price. Around $1,100 too high. I would get them to lower the price on the car, that is the only way to make the deal better. I leased my 05 at invoice (not under, like they offer now) but due to the better money factor my payment is $100 or more less than the one they quoted you INCLUDING 7% sales tax and I did first month due at signing, IIRC. Dennis
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