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Honda S2000 Lease Questions

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  • aramismaramism Member Posts: 28
    not sure someone else can hopefully answer that. i don't even know if the lease programs are gonna be there in sept, that is my main concern. however, even with 680, if they bring the programs back you should be ok
  • waynetekwaynetek Member Posts: 2
    thanks.

    well, i just got a message from a dealer stating this price:

    $29,889 + tax & lic

    I might just jump on this..
  • aramismaramism Member Posts: 28
    lease or buy?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi waynetek. Honda is not currently providing any lease support on the 2008 S2000. Through September 2nd, consumers who want to lease this car through Honda Finance will have to use its standard lease money factor. It is currently .00270 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The last time that I checked, consumers needed a credit score of 710+ to qualify for the Super Preferred tier. A score of 680 would fall in Honda Finance's "Preferred" tier, which would have higher money factors.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • aramismaramism Member Posts: 28
    well i hope it changes this month cuz i wanna get one!

    what about other banks for leases?
  • aramismaramism Member Posts: 28
    ok well this is the deal that a few dealers told me.

    looks like the 42 month lease give you the best stuff .00625 on the MF

    47% residual

    and he is claiming that they are getting $2500 cash back on the car for a lease. so it turns out a payment of like 450 or so for a 42 month lease with the taxes paid up front considering you are getting $2500 under invoice.

    i'm a little hesitant to pull the trigger considering a few months ago you could get this car for like $400 a month with taxes and fees rolled in only paying first months out of pocket. not much of a bargain. with everything rolled in you are talking like $500 or so a month which is so stupid for a 35k car with a [non-permissible content removed] residual. not cost effective at all considering the 335i sport bmw sedan is like around the same thing and it rips the s2k apart on the road.

    i just always liked the natural driving of the s2000 and the convertible and the look. the bmws are played out however the superior lease rates really make me think twice about this. i have till december to decide and am wondering whether i should roll the dice and see what oct/nov hold for the s2k. the residual isn't getting any better and the cash back may not be there but the money factor i would like to see go down. 270 with tip top credit is rediculous on a 34,000 msrp car.
  • bonvivantbonvivant Member Posts: 27
    Aramism,

    I can't follow your lease numbers. With a money factor of .00625 we're talking 15% interest rate (.00625 X 2400 = 15).

    Can you clarify?
  • aramismaramism Member Posts: 28
    hey sorry big typo.

    meant .00265

    oops lol

    please note change
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aramism. Honda did not introduce lease support on the 2008 S2000 in September. However it did introduce a new $2,500 dealer cash incentive on it :) . That should help you get a much better deal than was possible in August.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • bonvivantbonvivant Member Posts: 27
    Hi to all,

    I used the $2500 incentive to buy my new S2000 after months of watching, missed opportunites to lease, waiting and researching. With identical 09s at higher prices coming, I couldn't see a reason to wait. It's a great car. The price for this level of quality, performance and reliability is simply unbeatable.
  • aramismaramism Member Posts: 28
    ok so the base price for how i want this car msrp is 34,970 with dest.

    invoice as per edmunds it $31,725

    less $2500 i'm at $29,225 as a base cap cost

    with a 42 month lease term @.00265 and 47% residual (which is what the salesman told me has the best residual:MF ratio) i am coming up with a payment of $425 a month without taxes and i will roll in taxes for a payment of $462.

    is ther more i can squeeze out of that deal? maybe lower the MF? or lower cap cost. i realize i'm under invoice and was thinking about getting them to chop into holdback but am i correct in saying that holdback does not apply for them after 90 days? i know they have had the car there since the spring the same exact one i want to lease.
  • aramismaramism Member Posts: 28
    ok i'm in the heat of battle with a few dealers for the s2000 but i guess this is a general car lease question i am hoping someone with knowledge on this can help.

    so i'll try to make it as easy as understand as possible. in an effort to lower the cap cost to accomdate my payment comfort zone i was thinking...

    since i turned my last car in i have been driving my mothers lease extended 2003 civic lx 4dr sedan. the lease was up last year but she extended it and the extension is due back in december. so whenever she wants it can be returned. the car is pretty under the mileage allowance. so basically the car has positive equity. though there are a few months left the payoff amount for the lease is $5500 and the average i am getting in between kelly blue book and edmunds and seeing a few on sale it is about 7500-8500 as trade in value. so i was wondering why the dealer (same one that leased the car out in the first place so technically it is honda-honda lease) can't buy the car and give me credit for the difference since they can probably sell it for 8k up on their lot once they get it into shape and stuff.

    now i thought of this because when i got my last car (infi m45) i had an accord lease at the time and i had like a year left on the lease and was already over the total mileage so they bought out my old car from the bank (i broke the lease) and i swallowed the negative equity ($2500) into my cap cost for the infiniti. so surely the same can be done but it reverse.

    so when i ran this idea by the dealer they looked at the car then they were like, we can't do it because it is on an extended lease and if it was on a regular lease it would be different. i asked why what difference does it make and he couldn't really explain so he kind of danced around and changed the topic which lead me to believe he was BSing since logic tells me i should be right with what i am trying to accomplish.

    someone help!
  • 23109vc23109vc Member Posts: 218
    b uy a used boxster. you can get a killer base or S model for about 20k.

    blows the s2k away in quality, class, handling.
  • toyoman8toyoman8 Member Posts: 114
    Prob. not. Buying at invoice is a stretch already. It's possible to buy under invoice, but not in this case.
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