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Honda S2000 Prices Paid and Buying Experience

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Comments

  • luvaudi19luvaudi19 Member Posts: 34
    I was debating between the white vs yellow and ended up with the yellow. I saw pics of the white car and upon closer inspection noticed the carpets were red (to match the red leather).

    I ended up paying $1000 below invoice on a lease. I'll dig up the contract later, but so far the cars been great!

    -Jerry
  • acceleratoraccelerator Member Posts: 136
    Sounds like me, I was debating on white vs. yellow too. I liked the red leather but not in the footwell area so I opted for yellow and haven't regretted it since. Yellow only looks good on certain cars and the S is one of them. I cannot keep count of how many people ask me what my car is and has been mistakend for exotics! If you keep it washed regularly, that pearl shine is brilliant. Not sure if the white has a pearl coat or not (I cant remember) but the yellow is amazing in the sunshine or a moon lit night. You'll see. :)
  • legendguy1legendguy1 Member Posts: 15
    Jerry,

    Like the yellow A LOT also. However, I am almost 50 years old so am leaning towards the silver (family pressure). The invoice on 2008 s2000 is $3155. So you paid $3055 I am guessing? And then a lease? I would be curious to know your exact figures but that sounds very good so far.

    Regards,
    Joe
  • dwynnedwynne Member Posts: 4,018
    Congratulations on the new S!

    We should stop calling it the "base" model since it is not some stripper model Yaris or something :D . Just call it an S2000 and if someone buys the CR they can say they have an S2000 CR :D .

    I still do get a good number of comments about my S and every once in a while someone will call it a Miata (ouch). When I had the 01 I really got a lot of questions and comments in traffic, at the gas pump, and in parking lots. A lot of them were from "Honda folks" that wanted to look at the S2000. They are not rare cars on the road now (as much) and for sure not hard to get from a dealer, so a lot of that has died down.

    I noticed on my latest insurance that the 08 S costs MORE to insure than the 08 G37 which is something of a shock given the HP and price of each. I am guessing more S2000s are falling into the hands of folks who are wrecking them and driving up the insurance rates for us all.

    Dennis
  • bonvivantbonvivant Member Posts: 27
    The S also costs more to insure than a BMW 135. Given just the cost differential in parts, this seem to be wrong. But, as noted above, driving histories in this case apppear to trump all other factors.
  • dwynnedwynne Member Posts: 4,018
    The S used to be cheap (relatively) to insure - they were expensive and hard to get (at first) and did not wind up in the hands of folks who had a lot of accidents. Even used S2000s were spendy at first. As more and more became available and used ones dropped in price they fell into the hands of folks who have more accidents. Also, the S2000s seat is prized as a theft item to be fitted into Civics and such and often they cut the top to get in and both the top and the seats are silly high priced.

    When I have some time next week I will give my agent a call just to see what they say, but I am guess that all these factors combined to raise the rates for everyone.

    Dennis
  • legendguy1legendguy1 Member Posts: 15
    Hi guys,

    Just thought I would post that I picked up my Chicane Silver S2000 tonight. 2008 with 14 miles. Drove her home with top down on a warm night. Journey started when several s2000s showed up this Spring on the Acura used car lot. I got the bug then and started researching the S2000 and found our what a neat car it was. Also, that the local mechanic I use said that it would be no problem to service and repairs would be no more expensive than your average Honda. I test drove some used ones and made some inquiries for used but in end decided to get a new one because I usually keep for awhile and was worried at how some of the S2000s were being driven (most people treat the S2000 well but it is hard to know). Was able to purchase with 0.9% financing and couldn't be happier with treatment I received at MotorWerks in Barrington. Good luck to all!

    Joe
  • 23109vc23109vc Member Posts: 218
    what deals or incentives are there now on the s2000?
  • dwynnedwynne Member Posts: 4,018
    Congratulations on the new S! That Chicane silver is nice, if I did have to have another NFR that make have been my choice.

    Dennis
  • vinnynyvinnyny Member Posts: 764
    Joe:

    Please share the details of your deal. Thanks!
  • acceleratoraccelerator Member Posts: 136
    I contacted my agent, and for me (married, 35, home owner, clean record):

    BMW is and increase of + $21.62 over 6 months.
    Ininity G37 is a decrease of - $9.11 over 6 months.

    I selected the BMW convertible version for this price quote. The G37 is only available as a coupe so that actually makes sense to me that it is cheaper. I'm curious what your rates changes would be.
  • dwynnedwynne Member Posts: 4,018
    I checked with my agent and the S2000 now carries a higher "IRG" number than the G37 so the insurance is more. In my case it is $5.36 per month higher. I am an "old man", married, multi-car discount, multi-line discount, safe driver discount, etc.

    Both of the cars are covered the same, the only difference is the rating (risk factor) which makes the S cost more.

    The S used to be cheaper to insure than my other new cars like the RX-8 (gone) and the M5 (gone, but no duh there) but is now my most expensive. I guess the single same model name out since MY2000 has now found its way into the hands of the unsafe drives and driven up our rates.

    As my agent said "nothing you or I can do about that" :-(

    Dennis
  • aramismaramism Member Posts: 28
    i know that there was just a lease special on the s2k in june that has passed. nothing on the honda website any info from anyone on the current programs and if they are worse or what?

    trying to debate whether i should go for it now or wait it out until august.
  • dwynnedwynne Member Posts: 4,018
    Ask your dealer (or a dealer) what the current S2000 residual and money factor is so you can compare and see how bad it is. I have an e-mail in to mine to see what they say, but no answer (yet).

    Dennis
  • 23109vc23109vc Member Posts: 218
    Dennis-

    my local dealer has a leftover 07 advertised at 6000 off MSRP and they told me they have now made is 7000 off MSRP.

    so 7000 off MSRP on an 07, but it's brand new.

    good deal? they also have 08s, but they don't claim to have as much off but I honestly think they would knock those down just as much.

    is the 07 and 08 the same? any mechanical differences at all?
  • sd2006sd2006 Member Posts: 2
    With the dealer cash incentive, is it safe to say that I could try to get the purchase price of a new MY08 1,000 lower (that is if I intend on utilizing their 2.9APR)?
  • legendguy1legendguy1 Member Posts: 15
    2008 versus 2007

    Nothing drastic but significant to some:
    Minor changes to seats ( I notice the headrest is a little higher)
    Minor changes to dash (fuel and temp guages are moved to right)
    Tire monitoring system
    Honda has "retuned the regular model's suspension for better high-speed stability"
    New 5-spoke wheels which I happen to like better

    Hope this helps,
    Joe
    '08 Chicane/Black s2000
  • dwynnedwynne Member Posts: 4,018
    I heard back from the dealer that leased me my 08 S2000.

    There is a $1,000 dealer incentive if you lease OR take the discounted interest rate.

    If you loan / lease where they get the $1k then their current price is about $30,800 for the car, dest, and doc fee. If you pay cash or do some other loan or lease then the price is $1k higher. Hint: take the cheap loan from AHFC and just pay it off in a couple of months.

    The lease works out to be $499 + tax for 36 or $463 + tax for 48 (both terms 12k miles per year) with only tax and tag and first month due at signing (with top tier credit). I don't have the MF and residual break down, but I asked for it.

    Dennis
  • acceleratoraccelerator Member Posts: 136
    5-spokes are easier/quicker to clean than the 11-spoke mine has. :)
  • dwynnedwynne Member Posts: 4,018
    OK, corrections.

    The selling price would be $30,042.50 (hey, that is less that I paid) if you do AHFC loan financing.

    If you do the lease or pay cash the price is $1k higher.

    Sorry for the mistake.

    Dennis
  • dwynnedwynne Member Posts: 4,018
    Spray on Meguiars wheel cleaner, a quick brush, and hose off. A LOT easier to clean than the legendary BMW brake dust even with S2000 and lots of scrubbing.

    Of course, we have a guy that comes to the office and will detail your car inside and out for $25 (no wax or carpet shampoo at this price, just wash and vac). During the summer when my boss' son is not in college he comes to the office and does it for $20. So mostly, the number of spokes does not bother me much :D .

    Dennis
  • bonvivantbonvivant Member Posts: 27
    Dennis-
    It looks like your corrected price doesn't include the $670.00 destination charge, which isn't negotiable as far as I can tell. Price with the $1,000 incentive in my area looks like $30,055 + $670 = $30,725. Lower than that would mean asking for a piece their hold-back (2% of $34,300 MSRP =$686).
  • dwynnedwynne Member Posts: 4,018
    What is wrong with that :D ?

    I paid $30,247.37 for my 08 back at the end of May for the car, dest, and doc fee. This included a $1k lease incentive (and a cheap lease rate). The current price for a PURCHASE from the same dealer is $30,043.50 - so less than I paid. The lease price is $31,043.50 now and the lease rates are not as attractive.

    We leased a Pilot from the same dealer in January and the price for the SUV, destination, and doc fee used up all but $150 or so of the hold back.

    If you lived closer to GA, I could hook up you with my dealer. If they have a color you like in stock that would be your selling price ($1k higher for leases).

    Dennis
  • legendguy1legendguy1 Member Posts: 15
    My deal: 2008 Chicane Silver MSRP $34,300 + dest(635) = $34,935, 14 miles
    plus already had a 3m clearbra on hood, bumpers, door-edge,mirrors they SAY sells for $850 about. Anyway I paid: $30,270 plus $150 doc fee plus tax (2220) lic (143) all totaled to $32,783 out the door. Went for the 0.9% financing for 3 years. Hope this helps. Joe Enjoying the break-ion period.
  • bonvivantbonvivant Member Posts: 27
    I'm a little too far from GA, but the pricing info helps. My best leverage is that my local dealer has had the same red and silver cars for over a month. The lease deal, which I would have preferred but couldn't do at the time, didn't move 'em. The CA economy as elsewhere isn't helping the sale of "impractical shoes".

    I can make the offer and see what what happens ... the end of the month is upon us.
  • dwynnedwynne Member Posts: 4,018
    Some dealers will not deal into hold back, pretty much no matter what. Others will do it routinely for "Internet sales". These are sales they would never get if they didn't offer prices that would make it worth the drive for out of town or out of state folks. Comparing our Pilot price with our local best offers left more than $1,200 difference. A similar number existed with the S2000 pricing. Both made it well worth my time and expense to make a long drive to get the cars.

    I would use the dealer locator on the Honda page and start contacting dealers in an ever widening circle from your location and see if you can find someone with the right color S in stock that is willing to price it right in a similar "Internet sale".

    The current lease MFs are poor: 0.00280 for 36 months and 0.00265 for 48 months compared to the 0.00073 I got back at the end of May. So combining the current purchase incentive with the cheap financing to purchase from AHFC seems like the only deal now.

    There has been a lot of news lately about the captive lease banks taking it on the chin over residual values. They have always used inflated residual numbers to make for better deals and then figured they would worry about the future value when the car was turned in. Certainly the auction and trade values of my 05 were not even close to the residual and mine was in nice shape with real low miles. Then you add in the total collapse of the used truck and SUV market and folks returning those are just killing the captive lease banks (3rd paty banks too, but not as bad). The S used to have a really strong resale but that is eroding as well - too many on the market, limited audience, too many other options. The residual on my 08 lease is more than $1k less then the residual was on the 05 and the 08 is not likely to be that valuable at lease end even with the drop. So this all adds up to saying that cheap lease deals may be getting harder and harder to do.

    I have said it many times before - when they give you a cheap lease deal they have to sell the car twice: once to move it off the lot when new and again when you turn it in at lease end. If they SELL you the car no matter how much they have to discount the price, the rate, or both then they are done with it. So often times you will see them run cheap leases for a bit and as the end of the model year closes in they move to cheap sales and not attractive leases. Possibly in the future they just may skip the cheap leases completely?

    Dennis
  • bonvivantbonvivant Member Posts: 27
    Re: Scarcity of cheap lease deals going forward: Suporting your argument, just read in a business article Chrysler is getting out of the lease biz altogether.

    Thanks for the tip about widening the search if necessary.
  • aramismaramism Member Posts: 28
    thats an awful deal. in june in couldnt but a dealer in long island ny told me like 440 with taxes rolled in and only first + dmv up front on a 36 month lease w/ 12k mi on an 08

    i thought that was too high...

    if this is the case of of paying 499 for the car WITH taxes up front i am better off paying an extra $50 and getting a 335i sedan with everything rolled in.

    im gonna wait it out a few months hopefully they MF comes down on the car as it nears its final year of production. i was looking to spend max $400 a month with everything rolled in on a 36 mo lease on an 08. i figured it would be possible with the promotion they had as the first price the guy gave me was 440 so there was room to get it down closer to 400. but that was under a promotion so we'll see.
  • acceleratoraccelerator Member Posts: 136
    A salesperson I know said Honda will be building the S2000 for the '09 model year but in extremely limited numbers. Some grumble that the longer they continue to build the current S2000, that prevents them from building a replacement vehicle, but that is a topic for another thread. :)
  • legendguy1legendguy1 Member Posts: 15
    With production looking to be about 4000 cars for 2008 it is hard to imagine how Honda could build the S2000 in any more "limited numbers" than we have now. I am sure that if Honda replaces the S2000 with a new sports car iin a year or two t will have many improvements, but I still think I will like the old one just fine because its mix of performance and features happens to hit the purpose of this car just right IMHO.

    Joe
  • dwynnedwynne Member 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 Member 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 Member 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
  • bonvivantbonvivant Member Posts: 27
    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 Member 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
  • bonvivantbonvivant Member Posts: 27
    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 Member 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 Member Posts: 28
    correction. 06 infi m45. not sure how to edit to i had to repost. not 05 infi m45, 06
  • dwynnedwynne Member 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 Member Posts: 28
    yikes...

    thanks for the info by the way.

    aram
  • aramismaramism Member 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 Member 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 Member 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.
  • confused13confused13 Member Posts: 17
    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 Member 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.
  • acceleratoraccelerator Member Posts: 136
    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 Member Posts: 28
    You'll notice the last one applies to yellow S2Ks. ;-)
    image
  • acceleratoraccelerator Member Posts: 136
    Good thing my top is rarely up or that might apply to me! :P
  • flyuscghiflyuscghi Member Posts: 2
    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.
  • acceleratoraccelerator Member Posts: 136
    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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