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Honda S2000 Prices Paid and Buying Experience

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Comments

  • kyfdxkyfdx Posts: 31,206
    Don't give up a "bird in hand" for a maybe from the next guy... You struck a deal, and these guys swapped for the car you wanted.. If the price is good, don't switch just because someone says they can beat it..

    You can keep doing that forever, and you'll never end up with a car...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • dwynn: "If the "A" dealer wanted your business they should have stepped up to the plate the first time."

    If the sales rep from Dealer A had just said yes we'll match or beat the price in the first call instead of asking me to call that online dealer back, we would have went straight to them instead of dealer B. So I do agree with you there.

    I also agree with you "A deal is a deal, but saving money is saving money."

    I;m going to call "A" back and tell him that unless he can offer me a significant deal on the car we're staying with "B" to see what he says. Then I'll take that to "B" and see if they do anything with it. Regardless, I know we will stay with "B" becasue as I've said, it's been a pleasant experience so far. Of course they are selling me a new car. :)

    I did print out your post on the EW to show my husband. I agree with you. I didn't think we should get it at all. I plan on trading it in at 4 years (maybe sooner) for a new one. After reading your post I'm sure he'll agree too that we should wait.

    Thanks, Tee
  • dwynnedwynne Posts: 4,018
    Well happy birthday and happy anniversary to you :-)

    I love my S and I think you will love yours too.

    I was talking to a woman last week that was looking at my BMW (that I have up for sale) for her husband. I told her I obviously married the wrong woman as my wife never gave ME a BMW for a present :D

    Dennis
  • dwynnedwynne Posts: 4,018
    I hate those "we will beat anyone's deal" things. They should know what they have in the car and what kind of profit they need - and they know the market for that car in the area. If you are the only serious S buyer they have had in weeks then they better give you a good price. They should just give you a nice price they reflects a discount and where they make money and not play any games. If another dealer is willing to make less money on the same car, then so be it.

    If both dealers said "we will beat any price" then they both could quote you full MSRP and neither would have to deal at all.

    A local dealer used to do "we will beat anyone's signed buyer's order by $xxx". When I tried to leave THEIR dealership with THEIR offer sheet they snatched it back - "you can't take that with you". They know the other dealers do the same thing so they were making empty promise.

    In the end, it will probably only be a little bit of a discount anyway. I think we all (me included) get too caught up it getting the last dime out of the deal. $200 on a $30k car is 0.67% - so don't worry, be happy :-)

    Dennis
  • anythngbutgmanythngbutgm Posts: 4,182
    Much appreciated! I found the '05 to be much more "drivable" for some reason. Not that the older one wasn't an absolute blast to drive, it's just that I would be bringing home speeding tickets with dinner every night! :D Heck during the test drive we blew up on a pickup doing 90, and I was in freakin 3rd gear!!! 6th was useless...

    The new '05 seems to have a much wider spectrum of power, didn't need to rev the crap out of it just to get around... Even in 5th at 2500 RPM, the thing had some get-up-and-go even without downshifting. Nice.

    Thanks again for the info.
  • dwynnedwynne Posts: 4,018
    You would be happy with any of them, even an "old" plastic window 01 car like mine. The 2.0 cars need more "Attention" when driving - no torque means you have to pay attention. Get caught in the wrong gear and it will feel like a Geo :-)

    The interior upgrades on the 04-05 cars are nice and they handling is improved (less tail happy). I don't care the newer wheel design and larger tires, but if you can afford a new one that is what I would get. I am seeing prices around invoice these days which (I think) is a heck of a car deal.

    I am toying with the idea of selling mine and getting a new one. If they really ARE dropping the S I want to get a newer example so it will last me even longer.....

    BTW, what I did when shopping was drive USED S2000s. #1 I didn't want to redline a 0 mile car that someone else would end with, but I also wanted to know what it would feel like after the break in when you COULD redline it. So use the Honda CPO locator or look around and find an 04 or 05 that is used with some miles on it to test drive. It will give you much better feel for the way the car will be after you buy it and break it in right.

    It is a little shock to go from a 368 lb-ft daily driver to the 153 lb-ft (161 if I had a 2.2 S) S2000. I just have to pay attention, and I would not have it any other way.

    Dennis
  • airdadairdad Posts: 2
    I am Interested in buying an S2000 in New York (Long Island/Queens) area. Can anyone recommend a dealer. I've been told I can easily get a price of $30,335 (?invoice). Is this the best price?
    Does the car need an alarm system?
    Are the headrest speakers needed?
    What should I be paying for dealer installed options (eg. wheel locks, seat back pocket, headrest speakers, security system, cd changer).
    Any help would be appreciated.

    Thanks,
    Steven
  • dwynnedwynne Posts: 4,018
    My first step would be to go to carsdirect.com and put in your ZIP. What no-haggle price comes up? Try some area ZIP codes like NJ and see if you can find a nice price. You can just buy from the carsdirect dealer if you would like, or you can call/e-mail around and get quotes - now that you know what a good price would be in your area. Over in the Accord price forum folks have reported good deals from Open Road / Jersey Honda on Accords.

    My 2001 has the OEM alarm and it works fine and integrates with the keyless entry and the rest of the car. The first owner purchased it and had it installed. I am not sure I would have bothered, but I don' live in a high crime area. I know from seeing the instructions I would not have installed it myself. An aftermarket system would be more sophisticated - a pager, interior motion sensor (in case someone cuts the top but leaves the door closed), etc.

    Headrest speakers "ruin" the stereo effect, but would help you hear the stereo with the top down driving at speed.

    I would skip the seat pocket, the first owner got one of those too and I have NEVER used it. Ditto the changer, but I DO use it. For the money of the changer, you could replace the in dash with something nicer/more powerful that plays MP3s. You can even get an interface to tie certain aftermarket head units to the left hand stereo controls.

    Look at forum sponsor H&A for decent prices on the add ins. If you dealer can give you about the same price then get them from your dealer, if not then just order this stuff and save money. Note that H&A has the install PDF files online so you can see what is involved with the install - and get the hard stuff done.

    http://www.handa-accessories.com/s2000-04.html

    Dennis
  • airdadairdad Posts: 2
    Thanks Dennis.

    Cardirect.com wants $31,434 (invoice $30,334). Where would you recommend getting an aftermarket stereo system from?
  • dwynnedwynne Posts: 4,018
    I would try some different ZIP codes and see what comes up. Around invoice is about what the car should be doing.

    Just about any place - Crutchfield if you want to put it in yourself. Or maybe LogJam Electronics. Also any local shop could do a basic install.

    Lucid Automotive sells hard wired kits to let you use the dash controls with Alpine, Sony, and Pioneer aftermarket units.

    http://lucidauto.com/Merchant2/merchant.mv?Screen=CTGY&Store_Code=LA&Category_Code=dc

    Pac makes the SWI-X steering wheel remote controller interface and it should work as well - but it uses IR to control the aftermarket head unit.

    If you don't mind losing the dash controls, then any DIN sized stereo should work and is easy to swap out yourself if you have a wiring adapter kit (free with radios from Crutchfield or $10-20 elsewhere).

    Dennis
  • waydewayde Posts: 198
    Anyone least one yet under the new program? With just first payment down, how close to 299$ do you think one could get?
    They use 29333 as the net cap cost - if you add the 2499 into that the "sales price" is 31832... so about 1,000$ more than most people are seeing for purchase price.
    How much does the lease payment go up for every 1,000$ you add to the lease?
    Does anyone know the moneyfactor on this lease?
  • kyfdxkyfdx Posts: 31,206
    Each $1000 that you lower the selling price, saves about $30/mo..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • dwynnedwynne Posts: 4,018
    I posted the MF in the lease forum:

    36/36k - 59% 0.00073 MF
    36/45k - 57% 0.00073 MF

    If you break down the $2499 you have to put down to get the payment, it is $299 first month, $299 security, and $595 lease acquisition fee. That leaves $1,306 as a cap cost reduction. Add that to the net cap cost and you get $30,639. Invoice is $30,374. So the dealer makes $265 plus any doc fee or options. One of my local dealers said they would not sell the car for that price. Most folks are finding around invoice to just a little under is about it (the dealer has a little over $1,000 in hold back).

    So if you did the deal at invoice AND paid the acq, security, and first month up front it would be $328.66 a month . Roll in the acq fee and get them to waive the security deposit (MF goes up 0.0001) and it would be $348.71 with just first month, dealer fee, tax, tags, title due.

    I love my S and $348.71 + tax per month with little out of pocket is a sweet deal.

    With the Accord leases they started out nice and got even nicer. I don't see how the S lease deal could get much better. They are pricing the car right at invoice (for dealers who choose to do that) and the MF is right at 1.8%. Even if the lowered the MF to 0.0002 (0.48%) the payment would only go down $27 a month. So I don't THINK it will get better later on this summer unless they put dealer money on the cars.

    Dennis
  • waydewayde Posts: 198
    Thanks for the info. But the 2499 is stated as cap cost reduction and the TOTAL out of pocket is something like 3693$ (2499 + 1st + deposit + security). So the 2499 is all used for cap cost reduction... right? doesn't this give the dealer more leeway for bringing the price down?
    or am i misreading the terms?

    From the honda website: $2,499.00 capitalized cost reduction.
    $3,693.00 total due at lease signing (includes first month’s payment, security deposit, capitalized cost reduction and AHFC upfront acquisition fee; total net capitalized cost and base monthly payment does not include tax, license, registration, options and the like).
  • dwynnedwynne Posts: 4,018
    You read it right. I was too lazy to go pull up the details on the Honda web page so I used your number - which I thought you meant was the out of pocket.

    The numbers I posted are still good - in that if you get the car for invoice and pay the stuff at signing it will be the payment I showed - or roll it all into the lease and get the payment I showed for that.

    The difference is that the dealer has another $1,197 in profit than I stated IF you do the promo deal as listed. That makes in more incredible that a local dealer said they would not "participate" in the lease promo.

    Also the security deposit is $300, not $299 I typed (I forgot to round it up).

    With the really low interest rate I would go for rolling as much into the lease as possible and MAYBE pay the higher rate to waive the deposit.

    The main is to get a lease calculator you can use either in a Palm device or online or something. Then you negotiate the price down as low as you get it then make sure they use the right money factor - then run the numbers for yourself and decide how to handle the fees and deposit.

    Sorry for the confusion :-)

    Dennis
  • 351351 Posts: 3
    To all,

    Does anyone know what credit score is needed to get the current s2000 lease offer from Honda? I just came back from the dealership, I got the price that I wanted but at the end they told me that I'm not qualify with a credit score of 640. And of course they offered a higher Money Factor of .00133 instead of the .00073. Please correct me if I'm wrong, is it true that is easier to get qualify in a leasing vs. financing (owning) a vehicle? In the past I've successfully leased a Nissan and a Lexus and they were both $33,000+ vehicle. Could it be that Honda Financial is more strict? Any input will be greatly appreciated. Thanks.

    Car_man and Dennis – thanks for the info/advise from my previous post.

    -Jeff
  • dwynnedwynne Posts: 4,018
    I would assume a 730 or so, but I guess AHFS makes their own rules.

    The bump in the rate takes your from $328.66/mo (you pay security, dealer fees, tags, and acq fee at signing along with first month) to $358.80 which is a pretty good bump. The rate is still nice - cheaper than you can get elsewhere - but you will be paying $30 more a month or $1,080 over the life of the lease.

    I would try to ask someone at the dealership or call AHFS and see what they say.

    I would not be happy, but I don't know that I would let $30 a month keep me from an S :-)

    Dennis
  • kyfdxkyfdx Posts: 31,206
    1) Your payoff is usually higher than a financed car throughout the lease.. exposing the bank to more risk

    2) The bank has to take your car back at the end of lease, also exposing them to more risk..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • mfordmford Posts: 1
    what is a good price to buy a new black 2004 s2000, Have one left over at my dealership don't know what price it can sell for. We've knocked off over $2500 and it still just sits there.
  • dwynnedwynne Posts: 4,018
    At the right dealership, you can get a new 05 for invoice or maybe a touch under. About the best the dealer is likely to do is sell you this 04 with ZERO profit - which is about $1,000 under invoice - without money from Honda they would just be losing money at a lower price. To me, this is way too little a savings to give up one model year. A few years down the road the 05 will likely be about $2k higher in resale value.

    Find a dealer that will sell you an 05 for about invoice, I can't see doing that good a deal on the 04 - so it will just continue to sit. If no dealer in your area will, just check fleabay there are several new S2000s on there with a buy it now from $29,xxx to $30,xxx .

    Dennis
  • matthew8matthew8 Posts: 2
    Hello quick question... i am also interested in purchasing a new s2000 but one of the main reasons i havent yet has been the lack of a navigation system option. I noticed in your e-amil you referenced an interface device to tie aftermarket stereos to the left handed audio controls.... do you have any internet links to any of these devices???

    thanks

    matt
  • dwynnedwynne Posts: 4,018
    http://lucidauto.com/Merchant2/merchant.mv?Screen=CTGY&Store_Code=LA&Category_Code=dc

    http://www.pac-audio.com/products/swi.htm

    The one from Lucid is hard wired and the PAC is IR.

    I use my Garmin GPS-V or 276c in the S - just sit it on the console between the radio and the shifter - works just fine. But I only use it on trips, not for driving around town.

    Check over at www.s2ki.com in the audio forum I am sure someone has installed one of those in-dash stereo/GPS things in an S.

    Dennis
  • matthew8matthew8 Posts: 2
    great advice and info dennis!!!

    thanks
  • anythngbutgmanythngbutgm Posts: 4,182
    '04 leftover! The dealer had two of them, one red one yellow with 1000 miles on each. Got it for 27k... :D :D :D :D :D
  • dwynnedwynne Posts: 4,018
    Hard to think they would lose so much on a sale - I wonder if Honda didn't shoot the dealers some cash to help move the left overs off the lot?

    You CAN get a new 05 without the "demo miles" for $30k including destination and dealer fees.

    Congrats on the new car - and you got the right color! One good thing about the demo miles is no torture waiting to VTEC the motor :-)

    Dennis
  • I live in a pretty competitive market area when it comes to cars and homes actually. I know you can get an S2 for about 300 over actuall net cost (including holdback) which would put you about 700 back of invoice. If you're thinking of doing it, there really isn't a better time than now. The money factor is great and I believe it expires on July 5th. Be sure to find a dealer with plenty of inventory, or they are likely to push an older unit on you with possible lot damage.
  • kouklakoukla Posts: 2
    I'm in San Diego, just bought a 2005 S2000. Looking for Lojack vendor. Dealer wanted $1,000 for it installed. Can anyone recommend where I could get Lojack? (If I'm in the wrong forum, apologies, please let me know where I should go.) Thanks.
  • kyfdxkyfdx Posts: 31,206

    MODERATOR
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  • dwynnedwynne Posts: 4,018
    The lease special seems to have done the job, the June number are out

    http://www.hondanews.com/CatID2001?mid=2005070148995&mime=asc

    and S2000 sales for June 2005 were 972 units, up from 629 for June 2004. Total of the year is now at 3,945 still a little behind the 4,238 for YTD for last year.

    One of the 972 was mine - I traded my 2001 S for a new 2005 S. The dealer gave me enough on the trade to buyout the lease (7 months left) so no negative equity to roll into the new one and nothing out of pocket to get out of it. Then they sold me the new car for $30,000 including dest and dealer fees. Needless to say, I am a happy camper!

    BTW, they are selling my trade in CPO - with less than 18k on the clock it should make someone a nice car for a less than new price.

    Dennis
This discussion has been closed.