Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Coupes & Convertibles Honda S2000 Honda S2000 Lease Questions
270 messages, Last post on Dec 01, 2008 at 5:20 AM
You are in the Honda S2000 Forum. Your Host is claires
|
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Honsa S2000. Thanks. Car_man Host Smart Shopper / Prices Paid Forums |
|
|
Dear Car_man: Thanks for the forum. I'm thinking about leasing a S2000, but am not sure about whether the current deal is a good one. It runs until the end of Oct 3rd. Closed-end lease for 2005 S2000 MSRP $33,700.00 (includes destination). Actual net capitalized cost $29,376.41 Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $10,764.00. Option to purchase at lease end $19,546.00. Lessee responsible for maintenance, excessive wear/tear and 15/mile over 12,000 miles/year. $299.00 per month for 36 months with a $2,499.00 capitalized cost reduction. $3,693.00 total due at lease signing (includes first month's payment, security deposit, acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, registration, options and the like). I've gone thru the leasing guide and questions, but can't seem to understand the "Actual net capitalized cost". Is that the Lease price? Does it include the $2500 capitalized cost reduction? If so, do you think I can I negotiate the capitalized cost reduction to less? Thank you so much for your help in understanding this confusing issue. |
|
|
You're very welcome etomidate. Honda is running a pretty attractive lease program on the 2005 S2000 this month. Its buy rate lease money factor for a 36 month lease of this car is currently only .00053. This is equivalent to an interest rate of around 1.3%. The thing that I do not like about the lease that Honda is advertising on the S2000 right now is the large down payment. Most manufacturers advertise leases with money down so that the monthly payments look more attractive, but consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. I advise consumers against making any sort of down payment when leasing for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your S2000 would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all. The phrase "net capitalized cost" means the amount that you are financing on this lease. It is equal to your vehicle's selling price minus any sort od capitalized cost reduction that you make. This means that a net cap cost of $29,376.41 is really equivalent to a selling price of $31875.41, or a discount of $1824.59 off of this car's full MSRP. This deal looks like it is about $1,500 over invoice. If there is a decent level of competition in your area, I would not be surprised if you were able to negotiate a lower selling price than this. For additional feedback on S2000 pricing, make sure to stop by the following discussion: "Honda S2000: Prices Paid & Buying Experience". Car_man Host Smart Shopper / Prices Paid Forums |
|
|
Thanks Car_man for the info. The selling price for the car at 31875.41 is way too high. With the new 2006's coming to market in late October...if not sooner, they really want to move the 2005's. I'm getting quoted at $29,250-29,500. I feel that that it is a great price, but probably won't wont get the above money factor. Also, if I don't want to put any money down for the cap reduction (as in $0), they may be less willing to do business. However, I'm sticking to my guns b/c this would be a total splurge buy. With my fico score at around 800, I'm pretty sure that I would get a good money factor...just not the .00053. We'll see. Thanks once again for your help. keep you posted on what the guys at the dealership are saying. |
|
|
You're very welcome etomidate. Thanks for offering to let us know how everything turns out. Good luck in your negotiations. Car_man Host Smart Shopper / Prices Paid Forums
|
|
|
|
|
Replying to: Car_man (Sep 27, 2005 2:08 am) do you know if honda financial will allow zero down with their lease specials? for instance, the current s2000 requires about $3600 down...which equals to $100 a month for 36 months. will they allow $399 instead of $299 for 36 months? thank you.
|
|
|
Replying to: oceanexprt (Sep 27, 2005 11:44 am) Sometimes the payment is slightly higher than the rolled in amount divided by the term, as you are financing a higher amount... but, you have the general idea correct.. regards, kyfdx Host-Prices Paid Forums
|
|
|
|
|
Replying to: kyfdx (Sep 27, 2005 11:52 am) thank you.
|
|
|
Replying to: oceanexprt (Sep 27, 2005 12:03 pm) The advertised downpayment, is just so they can show a low monthly payment.. regards, kyfdx Host-Prices Paid Forums |
|
| The dealers are not allowed to hike up the money factors on these S2000s since they are on special. Whatever you qualify for, whether it be Super Preferred, Preferred, Standard, or Select, they have to give you the corresponding money factor and aren't allowed to charge you more and pocket the difference. Normally they can hike the rate up and pocket the surplus, but not on this lease special. Just a little FYI | |
You are here:
Forums
Coupes & Convertibles Honda S2000 Honda S2000 Lease Questions
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2009 Honda S2000
Browse by Board
Browse by Topic
Today's Chats
