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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 12:11 pm) Thanks for the info. I will have to go to the dealership next week, and tell them they need to lower the price of the car. $470 per month plus tax would put it at 504.78 for 36 months, and theres no way I'm paying that.
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Replying to: 23109vc (Apr 06, 2007 12:09 pm) If you want a red-light burner neither car is right for you, I would probably get a Mustang GT for that. Lots of red light speed and gobs of torque - just decent handling compared to the other 2 cars. You can get a v-8 GT premium coupe for just over $25k and a v-8 GT premium convertible for under $30k. More room than the S and "easier" to drive as well. Probably better reliability and resale than the 8 as well. When they do 0-60 times in the magazines they really abuse some of the cars. For sure those with weak torque like the S and 8. They rev to 7k or something and side-step the clutch. They get 0-60 numbers that rival 'vette numbers but this is NOT how you are I would treat out own car (while we could get close to magazine 'vette or 'stang numbers). The S is just more fun, but I only drive mine when I can put the top down. Both are true great handling sports cars, neither is a drag racer - the curves are where both shine. One of our customers was here for a meeting and saw my 8 in the parking lot so asked who owned it - as she was thinking of buying one. I talked to her about the pros and cons and mentioned she should look at the S2000. It was nice the next day so I drove that in, at lunch we went for a drive. Once she got behind the wheel and v-tec'd the motor and wound it up the smile would not leave her face  . She had test driven the 8 before, but never driven the S. Maybe not as practical, but a lot more fun (to me and to her, I guess). Most folks drive 12k-15k per year. Premium here yesterday was around $2.80 per gallon. If I drove that much in the 8 commuting it would cost me $2,240 to $2,800 in gas for a year (assuming it gets no higher). The same miles in the S would be $1,460 to $1,826. Say you have it 5 years, the extra $780 in gas would end up at $3,900 over that time. That, is a lot of money. Like I said, find a nice used example of each and score some drive drives and see what you think. You have to live with and pay for whatever you choose, not me Dennis |
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Replying to: rd1ofakind (Apr 06, 2007 12:28 pm) Dennis
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Replying to: dwynne (Apr 06, 2007 12:37 pm) Anyway, I live in Colorado Springs, CO so if anyone can recommend a good dealership in or around Colorado, let me know, thanks... Thanks for the info Dennis.
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Replying to: rd1ofakind (Apr 06, 2007 1:32 pm) Deal the price down on the car, invoice less $2k or close to it. Then plug in the lease and see what that works out to. Compare that with leasecompare numbers for the same car and choose the one that works out the best. I heard back from one of my dealers and they will do $29,593 or $29,783 for the car with destination and dealer fee for me. The variance is due to a Honda price increase, some on their lot are invoiced higher and some lower. No where close to you, I am afraid. I probably can't get enough out of my 05 to do the upgrade at this point - but I am thinking on it It probably will not be warm enough for top down driving there for another month or two anyway - so you might wait to see if they have a better LEASE deal. Then you don't have to try to hammer the dealers down so low on price. Keep in mind they make 3% of full MSRP as holdback, which on a $34.5k car is $1,035. So they could sell you a car near or at invoice less the $2,000 and still make a nice profit. It is possible some dealers have not heard about the $2k dealer money - it is not on Edmunds and was "just" announced I am told.
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Replying to: rd1ofakind (Apr 06, 2007 1:32 pm)
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Replying to: accelerator (Apr 06, 2007 1:50 pm) Accelerator, where do you live now?
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Replying to: dwynne (Apr 06, 2007 12:11 pm) 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.
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Replying to: rd1ofakind (Apr 06, 2007 2:01 pm)  I too, think I am going to wait it out a little longer (I'm also a little upside down on my current car so I really need to be patient. 
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Replying to: accelerator (Apr 06, 2007 2:02 pm) I don't have me lease contract and paperwork handy, but if I do remember right I only paid first month at signing, but may have done a sign a drive (since the rate was so low). With the much lower MF back then, even paying invoice for the car (compared to invoice - $2000) it ends up being cheaper than the current "deal". That said, getting the car so cheap even with a OK lease deal is not a bad deal - and you could always finance rather than lease. Only Honda knows what the future holds in deals, and they may not know since they will wait and see how the warmer weather or spring and the $2k dealer incentive improve sales. If they don't pick up, then you may see a cheap lease deal down the road. One thing to keep in mind - if they entice you to buy the car or 3rd party lease the car then they don't have to sell it again if you return it. If they have to make a cheap lease deal to move the cars, then they get a lot of them back in 3yrs and have to figure out how to sell them again. With the inflated residuals they use for the lease, they would likely have to discount them (or CPO them) to sell them. With the Accord cheap leases, no big deal since they retain value well and there is a STRONG used Accord market. The S2000 market is a lot smaller, not that it is not a great car, just not what a lot of folks want for the money. Dennis |
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