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Honda S2000 Lease Questions - READ ONLY

270 messages,  Last post on Dec 01, 2008 at 6:20 AM

You are in the Honda S2000 Forum.

What is this discussion about? Honda S2000, Car Leasing, Convertible

Messages Page 2 of 28

#3 of 270 Re: S2000 Special Lease by Car_man HOST

Sep 26, 2005 (4:18 am)

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

#4 of 270 Current Lease by etomidate

Sep 26, 2005 (3:43 pm)

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.

#5 of 270 Re: Current Lease by Car_man HOST

Sep 27, 2005 (3:08 am)

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

#6 of 270 Re: Current Lease [Car_man] by oceanexprt

Sep 27, 2005 (12:44 pm)

Replying to: Car_man (Sep 27, 2005 3:08 am)
hi car_man,
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.

#7 of 270 Re: Current Lease [oceanexprt] by kyfdx HOST

Sep 27, 2005 (12:52 pm)

Replying to: oceanexprt (Sep 27, 2005 12:44 pm)
Virtually all leases are available with no money down... Some may require the 1st payment and security deposit upfront, but acquisition fees and the cap cost reductions you see in advertised leases can almost always be rolled into the cap cost..
 
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

#8 of 270 Re: Current Lease [kyfdx] by oceanexprt

Sep 27, 2005 (1:03 pm)

Replying to: kyfdx (Sep 27, 2005 12:52 pm)
do you think honda financial services will honor the low money factor rate since i'm not abiding by their lease "special" (since i want no down)?
 
thank you.

#9 of 270 Re: Current Lease [oceanexprt] by kyfdx HOST

Sep 27, 2005 (1:11 pm)

Replying to: oceanexprt (Sep 27, 2005 1:03 pm)
It won't make any difference to Honda Finance... Your dealer may try to mark up the rate to achieve some extra profit, but that will be independent of the amount of your downpayment..
 
The advertised downpayment, is just so they can show a low monthly payment..
 
regards,
kyfdx
Host-Prices Paid Forums

#10 of 270 Special lease money factors by jsamof00

Sep 28, 2005 (8:35 pm)

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

#11 of 270 2005 Honda 2000 sebring/two tone interior by etomidate

Oct 01, 2005 (11:43 am)

Well, I'm back to let you know of my dealings.
 
After much research, etc....blah, blah, blah. I am finally pulling the trigger on the S2000.
 
Just talked to Norm Reeves Honda (apparently #1 dealership in volume in the world - like that really is supposed to impress me). They say that I should be able to get the price of my S2000 to about $360/month + taxes. Essentially they are letting me off the hook with putting all that money up front ($2,499 cap cost reduction). Just rolling in it over into the 36 month lease.
 
Do I think it is a great deal? Well sure, b/c the acquistion fee is rolled over the 36 months as well and no security deposit. Get a car without very much money down. I'll get in there and see what hidden fee they'll conjure up.
 
the saga continues....
 
This monday is when I'll set aside some time and head in there to talk things over. The best part is that I can completely walk away from the deal...Should I? over $20-30 a month when all the other conditions are good?

#12 of 270 05 Lease special over??? by ajpbf7

Oct 04, 2005 (2:04 pm)

Will Honda run it through the end of this month? If so any changes?

Messages Page 2 of 28

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