Last post on Dec 01, 2008 at 5:20 AM
You are in the Honda S2000
What is this discussion about?
Honda S2000, Car Leasing, Convertible
#31 of 270 Re: Frustrated [kurtosis]
Jul 05, 2006 (2:23 am)
Hi kurtosis. The 3 day return law that you mentioned is an urban legend. Once a consumer has physically taken delivery of their new vehicle they are basically stuck with it. Having said this, your brother may be able to get out of this deal if he has not driven his S2000 off the lot yet. The fact that he did not put any money down actually works to his advantage in this situation because the only thing that the dealer can do to try to force him to finalize this deal is threaten to keep his money. Of course, needless to say the dealer that he is working with is going to be less than pleased when they thought that they had a deal and all of a sudden a third person barges in trying to renegotiate it.
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#32 of 270 Re: Frustrated [Car_man]
Jul 24, 2006 (8:06 pm)
I just went to drive an S2000. 2006 Silverstone, all the options, $34,600 on the sticker. I got them down to $350 a month, $1300 total out of pocket on a 3 year lease, 12K/year. They said 57% residual and .000659 money factor and that they were doing an "invoice deal". After doing some calculations, I figure if it was based on invoice (according to edmunds) that I should be able to have it for $350/mo, $0 out of pocket.
My question is, is that too good of a deal to walk away from? Or has anyone heard of these cars actually selling for below invoice, since they are in the last year of a 7 year model run.
#33 of 270 Re: Frustrated [tac379]
Aug 28, 2006 (1:47 am)
Hi tac379. Honda Finance's current buy rate lease money factor for a 36 month lease of a 2006 S2000 is .00059 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. If you are able to lease a car with a capitalized cost that is equal to its dealer invoice and this money factor you are getting a very good deal.
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#34 of 270 Lease pricing
Jan 11, 2007 (11:53 am)
I am ready to lease an '07 S2000. The dealer has quoted a purchase price of $30,838 (Edmunds shows this as invoice) plus $595 Destination - total 31,433. His quote on a 36mo lease with 12k miles per year is 508 (plus tax). DMV is only payment at signing. Can you help me evaluate this offer?
#35 of 270 Re: Lease pricing [gdr1]
Jan 13, 2007 (6:12 pm)
Hi gdr1. Dealer invoice is an excellent price for a Honda S2000. I would be happy to use Honda Finance's current lease program to estimate what this car's monthly payment should be so you can compare what I come up with to the payment that you were quoted. However in order for me to do so I need you to provide me with this car's full MSRP. Let me know and I'll crunch some numbers for you.
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#36 of 270 Re: Lease pricing [Car_man]
Jan 14, 2007 (7:16 am)
thanks car man, in the meantime my wonderful wife decided that the S2000 was too claustrophobic with the top up and I have been instructed to lease a Boxter S. I will post there for your help.
#37 of 270 Re: Lease pricing [gdr1]
Jan 17, 2007 (11:16 am)
I really would like an S2000 but will be the first to admit it is at the top end of my price range with the #'s that I am currently seeing... That being said i do not mind a lightly used car that would afford some better lease payments...Additionally, Swapalease has had some attractive #'s in the 380's that are in my price range, but anything in the high 4's with money down is way too high, and those are the #'s i am seeing right now... Swap a lease is difficult and i havent had much response on their wiht people who are posting their cars (seems very odd to me).
Anyway, the purpose of this message is to see if it u think it is possible to negotiate low 400-low 4's on a lease, or if i could get an 04' or newer on a buy or a lease for 380-420... My research thus far has concluded that other than swapalease this is not really possible... Please let me know what ideas you have for someone in my position (if any).
#38 of 270 Re: Lease pricing [ysg3]
Jan 17, 2007 (2:53 pm)
The new S2000 lease deal is less 2% effective interest and you should be able to lease the car for invoice or a little less. If THOSE numbers are too high for you, then you either can't afford a new S or you would not be likely to be approved to lease one.
You can lease a used car as long as it is within a few years of new. It will have to be inspected first ($100 or so fee) and may make the payments where you can live with them. You can find your own car, make your best deal, then do the lease via www.leasecompare.com . You can go there now to get lease quotes and see payments. Note that while the cap cost will be less with a used S, the money factor will be a lot more than the Honda promo rate - so your payment may not be that much lower.
Also note that they usually list the base rental on the swap/trade lease sites and in most states you have to add sales tax to the payment. So a $350 a month lease may be $374.50 per month if you live in a 7% tax state.
#39 of 270 Re: Lease pricing [gdr1]
Feb 08, 2007 (3:20 am)
No problem, gdr1. Man I wish that someone would instruct me to lease a Boxster .
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#40 of 270 Re: Lease pricing [ysg3]
Feb 08, 2007 (3:27 am)
Hi ysg3. I have never personally used swap-a-lease, but you're right it does seem odd that someone would go through the effort and expense to put their car or truck up there and then not even bother to respond to inquiries.
I'm not sure what the lease payment on an S2000 would be like right now off of the top of my head. Let's crunch some numbers and find out. According to my calculations, if you were to lease a 2007 Honda S2000 that has an MSRP of $34,845 and a selling price of $31,933 ($500 over invoice) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $469. The payment for otherwise identical 39 and 48 month leases would be around $460 and $431. Unfortunately, once sales tax is added in, you are going to be well over $400 per month for all of these terms.
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