Hello everyone.

I have been seeing some decent S2000 lease deals floating around, so I made some calls.

Long story short, I am told the special pricing expires Monday. This gives me one day to make a decision.

Anyway.... I have a shot at a new, 2005 silver S2000, with two-tone red/black interior for $384/m.

This is a $0 down 36/m 12000mi/yr lease.

In English, I walk in with proof of insurance and I leave with this car.

What does everyone think about this deal? Almost seems too cheap. The guy claims he makes $27 on this deal. Ed, you out there?!?!?!

Anyone's thoughts would be greatly appreciated.

Thanks a lot.

 

For $0 down thats a great deal. Go for it!

 

DO IT ... (US$384 = C$480) ... that's almost GIVING AWAY a car for 3 yrs. Man ... sometimes I wish I lived in the 'States for deals like this.

 

If you believe everything a car salesman tells you then I have a bridge to sell you after you buy the car.

Think about it, dealerships would be out of business if they weren't pulling in huge profits.

Anyway, good deal if all is on the up and up. Good Luck.

 

its 384 PLUS tax right? that should still be less then 400/mos.

at 0 down.....yeah good fooking deal.

 

sounds too good to be true... In Canada the S2K is around $1K per month for 36 months...

 

Agreed!!!

They have a hell of a residual if sold in the right time of year, either way, they hold their value pretty damn well.

I say do it! That's an incredible deal man...good color choices too...

 

The $384 is complete, including tax, docs fees, etc.

The residual was $19,861, I believe.

I dealt with the sales manager, and his name was given to me by a friend of mine that is a sales manager at this company's Ford store.

Personally, the $27 profit did not make much sense, but whatever. Sounds like it is a good deal.

I was hoping to hear from some of the other people on the board that have this car, too.

Thanks to all that replied.

 

Hmmm... maybe I can twist the local Honda dealership's arm for an S2000 lease.

 

It is worth a shot. Supposedly this deal expires Monday.

 

Excellent deal..if it is doable...DO IT!

 

I gotta see if my local Honda dealer is willing to offer said lease terms...

 

Well, I am getting ready to make the call. Has anyone in the business seen or heard of some incentives that make this deal possible?

Seems like I need to pull the trigger today.

 

High residual is what makes this deal possible. And, it also appears that they are giving you a nice discount.

There's no gimmick...a lease is great on a vehicle like this. Go for it.

 

I did, by the way.

https://acurazine.com/forums/car-talk-5/scored-new-ride-today-lousy-cell-phone-pics-inside-310353/

Great car!

 

GoodDeal!!!

 

Actually - when I sold VW and Honda, there were plenty of deals where I personally made less than $30. The salesmen usually get reamed on a blowout sale while the Dealer still makes their profit. In the 15 months I sold cars I had 8 different pay plans and was the senior VW guy after 4 months. No way to make a living.

That being said, go for it!

 

Off of Honda's Website:

"2005 S2000 Special AHFC Special Featured $299 Lease Terms

$299.00 per month for 36 months.
$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).
Model AP2145ENW.
Offer valid from 6/1/2005 through 7/5/2005. Not all buyers may qualify. Subject to limited availability. The specific featured lease listed is not available to New York residents. New York residents should contact their dealer for New York featured lease. Terms and conditions vary for New York Residents. In addition, AHFC limits leasing terms to 39 months or less to residents and dealers in the state of Rhode Island."

 

DAMN....that's almost too good to be true....

 

I did $384/m, including all taxes, no money at signing.

All in all, I showed up with proof of insurance and left with the car!

 

Kudos - if you're happy with that deal. Great Car!

I'm wondering if I'll get a better deal this fall....even though I'll have to wait until next year to enjoy the benefits.

 

For them to give such a great deal, they must have too many of these things on the lots or something...good deal on a great car!

As long as you don't go over on mileage, you're golden.

 

Thanks for the feedback. The car is not my daily driver and I am ashamed to say I still have not hit 100 miles.

It has been in the high 90's for more than a week. UGH!

 

Are you all nuts???? A LEASE is the worse way for you pocket to get a car, and that BS about only making $27 is pure BS. Dealerships make huge profits on leases. At the end of the deal, what do you have to show for your money? 3 years of driving and taking care of someone elses car.

I am personally against leasing, you get screwed in the end anyway that you cut it. Just bend over and scream "death by bohica!!" (old joke, if you don't know it, dont ask me to explain

 

All great points. I believe the $27 is BS, too.

As for leasing, this is my first non-purchase, but this works well in so many ways. Instead of plopping $10k down, I keep it in the bank and get a new car in three years.

In my life, I have only kept two cars for more than three years. It is a wash in the end.

 

You have much to learn about leasing young grasshopper...just like a purchase, you can do well,,,or,,,you can get screwed.

Emu did VERY well on this deal, on a vehicle with an excellent residual value & apparently an excellent rate.

Hardrock, if you want o learn about leasing, PM me & I'll give you the poop. But our boy here did very well on a nice car, Case Closed.

 

Thats a kickass lease.

 

Arigato chef, thanks for the feedback.

The car is a lot of fun. I passed 100 miles on Wednesday.

 

He may have gotten a "good deal" as far as a lease goes and thats great for him, but I do not need a "lesson" on leasing. Leasing is free money to the car dealership, and leases are FAR more profitable to the dealership than selling a car, why do you think that they even offer them.

I live in Denver, and there has been a story in the news lately of a couple of car dealerships that have been engaged in some very shady practices. One thing that they have done is to lease someone a car when the people think that they are buying it. (stupid people too for not reading the paper work) In the news reports, other car dealers were interviewed and they themselves stated that they make a much larger profit off of a lease than a sell.

If Emu is happy, thats what really matters. But just from the way that I feel about car dealers in general, I don't want to give them my money, and then give back the car in the end, with nothing to show for it. Hell, I wont even let a dealership put their logo/badge on the car, why should I advertise for them?

This is just my opinion on leases.... and as you can tell I don't care for them, I have known too many people that were VERY sorry that they had ever gotten into one and I feel that they are "Money for nothing" as far as the dealerships go. But there are those of you that feel that they are worth it and that is why they have them. We are all different, we all manage our affairs differently and beleive in different things. Would be a pretty boring world if we all agreed on everything.

BTW.... I am FAR from being a young grasshopper!!!

 

Leases may be more profitable to the dealers, but for those of us who trade cars so frequently, it only makes sense to lease. If you do the math, you will see that in a good lease, you will actually pay less for the car over a three year period then if you were to buy it and trade it in after three years. If you still don't believe me, I can do the math breakdown again to show you.

Now, if you were to keep the car beyond three years, then I would not recommend leases AT ALL.

 

Well, this thread has birthed some interesting dialogue. Perhaps, we need a lease-based garage thread.

Great dialogue guys.

Let's all still be friends!

 

Sounds like a great deal! I saw the thread about the new car but I missed the original "lease" thread. I would lease a car if I wasn't going to mod it. Unfortunately, I've modded every car i've ever owned so for now, no leases. I also normally drive more than the 12k/year in mileage.

 

No offense intended( ), but you have a lot to learn about leasing. There is no magic to it. It is no different than a pro-rated buy. If you are an educated consumer, a lease is right for you...if you are not, then no matter what you buy/lease, you will get screwed.

In fact, some leases are BETTER than a buy...with very low interest rates and high residuals, some even higher than if you were to purchase the vehicle...and that value is locked in>meaning you cannot get screwed(upside down)at the end of the term.

Now, you cannot lease every car, that is for sure...some cars hold value like shit. But, the majority of higher end vehicles, imports mainly, are ripe for leasing. Leasing contract is no different than a regular buy, only real catch is mileage...but if you drive alot, then a lease isn't right for you anyhow. And just like a regular buy, a lease is negotiable(the rate, term, etc...residual value can be negotiable if your credit is super-duper).

Like I said, if you want a primer, I'd be glad to write something up, really. After 10 years in the banking business, I'd be remiss I couldn't explain it correctly.

 

More great points. Keep up the great insight, everyone!

 

A lease is technically a loan, with an "optional" balloon payment at the end, which you can either refinance, payoff, or ignore and return the car no questions asked.

A lease residual is the what the car is worth at lease end. and nobody can change that (unless its an open-end lease which are not common).

After 3 years, try to sell your car privately; it will be a nightmare considering that the buyer needs to pay taxes for title transfer, you might not get as much as the residual, or it might take you longer to sell.

On the other hand, returning the car is a one-day task, and voilá.

Lease is the best choice to get a vehicle, with the prerequisite that those need to be hight residual.

Check for residuals here

http://www.cars.com/carsapp/national...04&x=9&y=8&mr=

 

Excellent price IMO.

Sign & drive is the best choice in a lease. And you got a very good payment there.

The S2000 high residual and the low sale price made it possible.

 

It is true that the S2000 has a great lease program. I noticed it last month and was eating my heart out when I found out about it. I am in the leasing business, so I try to keep myself up to date on the specials all the time, but can't remember everything that's out there. I just checked the numbers, I came out with a residual of 19,861, and the money factor of .00073. At 384 per month with the bank fee, first payment, security and plates upfront, the profit is around 850 over invoice. The total out of pocket at that monthly price would be around 1600-1700. If they are waiving the security and you do have a previous honda, take 400 off the upfront fees. If they are waiving the security and you aren't a previous honda lease customer, the profit becomes around 675, with the total out of pocket around 13-1400.

Let me know what you're coming up with out of pocket, and what county and city you're registering it in so I can accurately price it accordingly. I priced it based on anderson county taxes. Tell me your county and city and i'll give you exact #'s..
Ed

 

Wow Ed! That is my exact payment and residual.

The up front fees were supposed to be about $1900 and change, but at that section of the contract, it says "Dealer to pay" and I only signed my name and provided proof of insurance. Deal complete.

 

By the way, the $384 INCLUDED all taxes and fees!

 

taxes included and $0 out of pocket? WOW, cant beat that.

This is not a $0 down, but a $0 inceptions which is the best you can have on a lease contract.

The dealer should have gotten a pretty good manufacturer to dealer incentive to really "eat" the inceptions. They are still making money anyways. 2006 models coming soon, better to have this one sold than sitting on the lot

Congratulations, yours is a good example of what a lease contract should look like