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Honda S2000 Prices Paid and Buying Experience

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Comments

  • dwynnedwynne Posts: 4,018
    Too bad your IMHO and my IMHO do not count :D .

    I think if they replace the S it will be with something more mainstream and more "Accessible" to the general public. The S sold in nice numbers when introduced but the mild updates and not stemmed the tide of slow sales. As a "halo car" it is a nice one, but I would not think they are making much profit with such low sales and near constant incentives. They eventually dropped the NSX no matter how nice the car was it just never sold well.

    The C&D new car issue came out the other day and they say the S will carry on for 09 as well.

    Dennis
  • bonvivantbonvivant Posts: 27
    As Dennis pointed out in detail the lease deal that ended 7 July was a VERY good deal. Low out-of-pocket costs with a low payment and guaranteed "buy back" after 3 years is just really hard to beat ... especially for those of us closing in on retirement with a lot of current expenses. Word the S will soldier into 09 gives confidence that the car will continue to be available; at what price is the unknown. The S market is soft. Likely, leftover 08s will sell at a bigger discount as selection goes away, and likely without a good lease deal. MSRP on 09s will likely rise a bit given the dollar's weakness, and initial discounts aren't likely to best the $30K and change price available on cars out there now. Whether a great lease deal on an 09 S comes round any time soon is doubtful. This makes the argument to try to buy now compelling. The BIG sticking point on buying is the matter of either big down payment or a big monthly payment. (Of course, the idea of what's "big" is relative ... to think I used to think I could afford a new Boxster.) Any words of wisdom to help escape this darkness is appreciated. How much could a guy lose by waiting? Timing can be everything, neh? :confuse:
  • dwynnedwynne Posts: 4,018
    Just keep in mind that any lease deal shown on Honda's web page generally stinks compared to what you can do by negotiating the price of the car. The lease shown sets the residual and the money factor, the price you negotiate is up to you and is how much or little you pay out of pocket. I paid just first month's payment on my deal and got the car a LOT less than the stated amount in the "lease special" shown on Honda's web page.

    Dennis
  • Dennis -

    Local dealer with whom I think I could work has a red and also silver car. A lot of cars can't wear red, and the New Formula Red is a great red. So, naturally, when I mention to my better half I might go for the red S, she rolls her eyes and quotes my past about waving a red flag in front of a bull -- or in this case, the CHP. That's what I get for telling her how I used always get pulled over when I was MUCH younger and had 66 Alfa Spyder --red, of course.

    What's been your experience with your red cars?

    And -- finally -- I'm guessing a dealer's more likely to cut the best and quickest deal deal on a car he's had on his floor for over 5 weeks, as opposed to having to jump through the added hoop of a dealer trade. Make sense?
  • dwynnedwynne Posts: 4,018
    They use laser and RADAR around here and I don't think they pick on my red car any more than any other car - but I have had 4 red convertibles in a row :D . If you are over in the hammer lane going fast they will nail you even if you are in a Yugo. You do get some of the "slow down" looks from other folks who just think you must be going fast, but LEOs use their tools and those are color blind. I run V1 detectors in my cars "just in case".

    That is always true, if they have it on the lot (along with some more of the same model) then they have high motivation to move it. If they have to dealer trade you have to pay for the trouble one way or another. If the dealer is close enough to cost much, just try for a deal with the dealer that has the car on the lot.

    Finding a dealer that will make a nice Internet deal without much work on your part is sweet. Hennessy in GA is where I got mine and nothing could have been easier - but I did have a pretty long drive to get the car. The local dealerships would not have touched my "down into the hold back" price with a ten foot pole.

    Dennis
  • As always, logical, sound information. I have a V1, and it'll be used. Now, just start trolling for the best deal. (When I was thinking I could afford a Boxster or Cayman, I visited some Porsche-ophile sites and found the term "trolling". The term is used with derision, and seems to be about the biggest put-down in club lexicon. It felt like smugness and superiority were in the air as if to say: "We paid the price of [relative] exclusivity, and you'd better, too, if you want to be in our club." Nothing wrong with this, except it brings to mind the Woody Allen quote about not wanting to be in any club that would want him (me) as a
    member -- at least not in terms of making price [and a manufacturer's profits] sacrosanct portals of entry. I usually pull for underdogs. Though it may be a stretch to think of Honda as and underdog, it's fun to see them (Acura) becoming very competitive very quickly in American Le Mans racing against the vaunted German brands.
  • aramismaramism Posts: 28
    i don't buy what they post online. i got my last car (05 infi m45 sport) literally loaded for 698 a month all i paid was first month and $35 to transfer plates with 15k mi for 24 months.

    they were advertising 799 a month with taxes up front for 24 months 12k miles not fully loaded no navi none of that stuff so it just goes to show you. same thing with the deal my mother got on an 08 jetta. she got that sign and drive for $2 lower than the advertised price with a auto trans wheras it was being offered on their promotion with manual. like $1800 difference on the msrp. so advertised deals always have room in them.

    point being i am trying to time for any sort of lease deal on this car. i understand how you are getting a better deal on a purchase but it's out of my budget currently. there's gotta be a way to get this car with everything rolled in and at or under 400. if they are selling them for 30k or so then a 30k car must have a really [non-permissible content removed] MF to get the payment upto the high 4s. getting this car and paying $500 a month on a lease is flat out retarted. it's been out for 8 years now, i remember when it first came out it was different there was tons of hype now it's a waste of money to pay that much. just my opinion.

    if they know could someone verify the august MF and residual on a 36 month 12kmi lease???
  • aramismaramism Posts: 28
    correction. 06 infi m45. not sure how to edit to i had to repost. not 05 infi m45, 06
  • dwynnedwynne Posts: 4,018
    if they know could someone verify the august MF and residual on a 36 month 12kmi lease???

    For July it was 0.00280 for 36, 0.00265 for 48 which are terrible rates - so I didn't bother to ask what the residual is (was). The dealer incentive only applies (now) to sales and not leases.

    Dennis
  • aramismaramism Posts: 28
    yikes...

    thanks for the info by the way.

    aram
  • aramismaramism Posts: 28
    i always wondered this. can a dealer touch the money factor. is there yield spread and stuff like that or is it a rock solid rate. i would imagine the dealer has the ability to juice up a money factor to make some back-end money from the bank no? i know they can goto different banks like han and whatnot but as far as let's say a honda dealer dealing with AFHC bank.
  • dwynnedwynne Posts: 4,018
    Normally, the AHFC payment will net out to less than a 3rd party lease bank. The residual is normally inflated over with a 3rd party bank will do and when on special the rate will be a good bit lower. It always pays to check to see if you can get a better deal - or simply wait until AHFC has a special deal, as no other bank can touch that.

    Dealers can mark up the money factor for extra profit for the finance department. They can also mark up the $595 bank wee for more profit. They can't touch the residual, it is set by AHFC. I don't know if I have ever heard of a Honda dealer mark up a lease rate, but I assume somewhere some of them do this. High end dealers (BMW, Infiniti, etc) often do this and it can be hard or impossible to get a lease at the buy rate.

    Dennis
  • aramismaramism Posts: 28
    hmmm. well i mean i know that they do have other banks like HAAN financial however from what i heard (not sure how true) that they are very strict when it comes to wear and tear wheras with honda bank they give you the $1500 allowance even on smashed bumpers and stuff which i know is true as my mother had a civic and all stuff upto $1500 was waiged and she had a bill for literally like $6.00 or something. it is good to have as driving in NYC only god himself can keep a car totally mint in even just one week. rim dings, bumper scratches are irrelevant even if you are a perfect driver.

    i mean i'm just gonna wait for sept and call up a bunch of dealers and get the specs on their offered deal. MF, resid, cap cost, etc. and theoretically if the MF is set by the bank and is rock solid then every single dealer should tell me the same MF and the only difference in any of the variables should be the cap cost, or the cost they are selling the car to the bank to or however that works, the "loan amount" on the lease. every other variable should be identical otherwise someone is either lying or they can go in and mark up or buydown the rate.
  • I found a brand new 2007 leftover in the color I wanted (yellow) and got it for $26,500 plus a $99 doc fee. I plan to keep it for a number of years, so I think resale will be just fine with '07 vs '08 (plus I like the wheels on the '07 better). Even with 4.9% vs Honda's 2.9%, payment is better and I've got a great car for almost half of some of the competitor cars! I couldn't be happier.
  • fitisgofitisgo Posts: 40
    Yes, it sounds like you got a really great price. Superior Honda of Omaha, NE, also has a leftover 2007 in yellow on their showroom floor. The MSRP is about $34,500 (I rounded off) and they are advertising $6,500 off, or $28,000. I thought this was a good price. If you were able to negotiate another $1,500, you did very well.
  • Nice job and nice find, yellow is the best color if I do say so myself. I too, like the wheels on the 07. Takes forever to clean the spokese but as dwayne said, his boss's son cleans his car so the spokes don't bother him. For the rest of us, though... ;) When the car is clean, even under a bright moon, it simply sparkles. That pearl finish is awesome. Wait until September, you are going to have a great time in this car (still a little warm here in Texas for top down diving except at night).

    Congrats and welcome to the club.
  • estrekaestreka Posts: 28
    You'll notice the last one applies to yellow S2Ks. ;-)
    image
  • Good thing my top is rarely up or that might apply to me! :P
  • Last week pulled the trigger on a new 2007 Rio yellow from a dealer in Omaha. NE. Couldn't resist the price, $25,000 OTD. No market for that car in Omaha. Flew out the next day and drove it across country to VA, what a trip. No regrets.
  • Excellent price and what a great time of the year to make a trip like that! You would hook up with a local car group or s2ki.com and take one of the Fall Colors drive or Wake the Dragon drive.

    Oh, and welcome to the S club! You will love the attention you get with the Rio. The pearl in the RIO looks sooooo much better than the basic yellow cars you see.
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