Last post on Dec 01, 2008 at 5:20 AM
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Honda S2000, Car Leasing, Convertible
#98 of 270 Re: Getting a lease quote right now [accelerator]
Apr 07, 2007 (11:35 am)
IIRC = If I remember correctly
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.
#99 of 270 Re: Getting a lease quote right now [accelerator]
Apr 07, 2007 (11:38 am)
In Texas the top down season comes early - and takes a break during the summer, doesn't it ? I can stand about 55 degrees with the top down, windows up, heat on and into the 90's top down, windows down, maybe A/C on. When it gets much colder or hotter I put the top up (or drive another car).
#100 of 270 Re: Getting a lease quote right now [dwynne]
Apr 11, 2007 (9:11 am)
For all the people on here like myself that were waiting for a lease special, I have to agree with Dennis that the current lease ( I wont call it a special because its not) is not a good deal, and I have decided to wait it out some more. Whats interesting is if you look on Honda's website under current offers, you will see the other leases are called "special lease" while the S2000 lease offer is called "standard lease". That speaks volumes, I will wait for a "special lease" like they have had in the past and hope it comes around sometime this year. So for now, I'll continue to enjoy my '06 TL w/Navi.
#101 of 270 Re: Getting a lease quote right now [rd1ofakind]
Apr 11, 2007 (10:45 am)
I am so on the fence. I see the colors I want disappearing from the dealership lots so I'm nervous about waiting. On Magic 8 Ball, what do you see in my future?
Magic 8 Ball's Response: "Ask Again Later"
#102 of 270 Re: Getting a lease quote right now [accelerator]
Apr 12, 2007 (2:01 pm)
It can be a tough call, but I would say be ready to go if (or when) the deal comes out - be the first one make a deal and get a deposit down on the color you want. This is supposed to be the last model year for the S, so I would assume production will end in the next few months and dealers will be getting in the last they will get in the weeks after that.
If I had to choose between not having an S2000 and paying the normal lease price, I guess I would pay up. While there is still a chance they will offer a sweeter deal, I would wait. Note: easy for me to say as I have an S2000 to drive
#103 of 270 Re: New lease incentive on S2000 on Honda website [23109vc]
Apr 13, 2007 (2:30 am)
Hi 23109vc. Honda is still not providing any special lease money factors on the S2000. The reason why it started advertising a lease on this car is in April it introduced $2,000 dealer cash on it. You can use this cash to help you negotiate an attractive capitalized cost for your lease, but you will still have to use Honda Finance's standard lease money factors to calculate your monthly payment. The specific money factor that was used to calculate the advertised payment that you are referring to is .00280. This factor is for consumers who qualify for its "Super Preferred" credit tier.
Prices Paid Forum
#104 of 270 Re: New lease incentive on S2000 on Honda website [23109vc]
Apr 13, 2007 (2:33 am)
23109vc, if consumers were able to negotiate selling prices of around dealer invoice prior to the introduction of the $2,000 dealer cash, there's a good chance that you will be able to get this car for close to $2,000 under invoice now.
Prices Paid Forum
Apr 15, 2007 (3:56 pm)
got a dealer to $5000 out of pocket at signing and $320/month for 36 months with 12k miles/year. all costs, tax, etc included in this. good or bad deal?
#106 of 270 Re: New lease incentive on S2000 on Honda website [dwynne]
Apr 18, 2007 (6:44 am)
Hey Dennis, I finally got my palm desktop software installed (Palm's site has broken links) and got Lease-It installed!
I can't get over how easy the software is to use! I punched in the numbers into my Palm and compared that to LeaseCompare and it is a match so I now have confidence with the application. I'm still foggy on how you were able to help some of the other people posting their lease rates by working backwards, but maybe that will come to me once I've worked with the program a little bit.
Again, thanks for the link and tool... this will be the best $10 I've spent.
#107 of 270 Re: New lease incentive on S2000 on Honda website [accelerator]
Apr 18, 2007 (9:44 am)
I love LeaseIt! as well - a super deal for $10. I love how you can store a number of deals and switch between them - and change from residual percent to dollars or MF to interest rate.
Keep in mind on the LeaseCompare numbers they have rolled the lease fee into the deal so all that is due is first month. You have to add that to the cap cost you enter to make the payment work out - but you are not required to roll the fee in when/if you actually did a lease with them.
With the tools I have, I just use trial and error to work the numbers backwards. If you take the "deal" on the Honda web page it shows the net cap and residual, you know the term is 36 months. There can only be 1 MF that makes the payment they show - I worked it backwards for 0.00280 and the car_man confirmed it (from the lease offer sheet from Honda). So you just plug in what you know and guess at the MF, payment too high means MF too high, change and retry, etc.
Now you are all set - you just need for Honda to offer that cheap rate again