LEASING
06-10-2001, 05:48 PM
#3
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Is leasing a good idea? Here is my solution on this car.
It would have cost me about $35,000 ($32.5K + Tax and charges) minus $3K (dwn payment) then finance $32K for 5 years payments were about $650 per month (7.5% APR)
Leasing my car. $3000 dwn and under $500 per month for 30 months with 15000 miles per year ($0.13 over). After the lease I can purchase the car for about $20K. Thus a 36 month loan for $20K at 7.5%APR should be about $615 per month.
So it would take an extra six months to pay for the car, but you save $150 per month for the first 30 months equals $4500, then $35 per month for the next 30 months equals $1050. BUT you have to subtract the extra 6 months which equals $3700. Thus you should be on the plus side almost $2000! Remeber if you purchase the car at the end of the lease you don't have to worry about going over the milage.
But I think the car will be worth more than $20K at the end of the lease, thus I would buy the car and trade it in on a new S2K and still have the difference of the $20K and the value of the car for the dwn payment for a new car, so I even make more money?? MAYBE.
For people who can't afford a high car payment you maybe able to save almost $200 per month by leasing, thus you get the car you want without the big payments.
It would have cost me about $35,000 ($32.5K + Tax and charges) minus $3K (dwn payment) then finance $32K for 5 years payments were about $650 per month (7.5% APR)
Leasing my car. $3000 dwn and under $500 per month for 30 months with 15000 miles per year ($0.13 over). After the lease I can purchase the car for about $20K. Thus a 36 month loan for $20K at 7.5%APR should be about $615 per month.
So it would take an extra six months to pay for the car, but you save $150 per month for the first 30 months equals $4500, then $35 per month for the next 30 months equals $1050. BUT you have to subtract the extra 6 months which equals $3700. Thus you should be on the plus side almost $2000! Remeber if you purchase the car at the end of the lease you don't have to worry about going over the milage.
But I think the car will be worth more than $20K at the end of the lease, thus I would buy the car and trade it in on a new S2K and still have the difference of the $20K and the value of the car for the dwn payment for a new car, so I even make more money?? MAYBE.
For people who can't afford a high car payment you maybe able to save almost $200 per month by leasing, thus you get the car you want without the big payments.
, do you know know of any good dealers in atlanta and who should I talk to?
06-12-2001, 05:33 AM
#6
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The advantage of South Honda is that they will pre-sell you the color of your choice and you get to chose what options you put on. They are not cheap though. You are forced to buy a B.S. paint protectent (nothing but $800 wax), window etching ($400) and documentation fee ($350). So even though the car is sold at MSRP, these hidden fees push the price up. I did get the options I ordered (shifter knob and alarm) at a discount though.
Beware the yellow, black and red they have on the lot, they have been there since February.
Beware the yellow, black and red they have on the lot, they have been there since February.
06-12-2001, 06:11 AM
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Hello fellow stooker's. I took delivery of my new ride two months ago (silverstone/black). This is my first post to this forum. I have been reading just about every post for the last two nights. I took the plunge and leased my s2k for five years 
I only had to put down 1k and the payment is $510. Does anyone think I got ripped off? I knew no matter what I was going to have to pay more than my last ride (99 civic EX). Plus factor in I turned the Civic in a year and a half early on that lease. Although I don't regret buying my new love, I sometimes think I could have gotten a better deal if I had shopped around a little bit. I signed for her on the first trip to the dealership. (I just couldn't resist
) Oh well, you can't put a price tag on true love!
I only had to put down 1k and the payment is $510. Does anyone think I got ripped off? I knew no matter what I was going to have to pay more than my last ride (99 civic EX). Plus factor in I turned the Civic in a year and a half early on that lease. Although I don't regret buying my new love, I sometimes think I could have gotten a better deal if I had shopped around a little bit. I signed for her on the first trip to the dealership. (I just couldn't resist ) Oh well, you can't put a price tag on true love!
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06-12-2001, 10:40 AM
#9
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It doesn't matter how you obtain your S2K, just that you get one.
I got mine at Hennessy Honda
8931 Highway 92 Woodstock GA, 30189
Phone: 770-924-9000 Fax: 770-591-2810
give Scott Thompson a call and tell him Joe Oczkowski sent you. No pressure, no options required, and under MSRP! They still have three Yellows and a couple of black ones left.
Layton, it doesn't sounds like a bad deal but you have to look at the mileage allowance per year and the cost of going over the allowed limits. One of the biggest factors is to look at the residual value of the car after the lease (what you can buy the car for at the end of the lease). The lower the residual the better, thus at the end of the lease if the residual is lower than the car's worth that is equity in the car (money in your pocket).
Also try to get the lease to end at a time when the car dealers do not want the car. My ends in January. Most car dealers at that time have great deals on left over models and new models (new S2K) and its winter time so who wants a convertiable then (i'm in Georgia so it's not that big of a deal about winter).
It is hard to tell what the car will be worth in 3 years, but the 2000 models are selling in the high $20K and they have been out for almost 18 months. But to be realistic I think after 30 months my car will be worth around $24K; MAYBE!!!!!
In case you wondering if I thought about this for a while....well how about 11 years!!!! I wanted a sports car since I got out of High School but.....4yrs of Engineering School....then 1yr for Masters......then 3years for law school......then 1yr for the bar.....then 2yrs starting my law practice and buying a house (almost forgot the girlfriend)!
Yes this car means that much to me!!!!!! :
I got mine at Hennessy Honda
8931 Highway 92 Woodstock GA, 30189
Phone: 770-924-9000 Fax: 770-591-2810
give Scott Thompson a call and tell him Joe Oczkowski sent you. No pressure, no options required, and under MSRP! They still have three Yellows and a couple of black ones left.
Layton, it doesn't sounds like a bad deal but you have to look at the mileage allowance per year and the cost of going over the allowed limits. One of the biggest factors is to look at the residual value of the car after the lease (what you can buy the car for at the end of the lease). The lower the residual the better, thus at the end of the lease if the residual is lower than the car's worth that is equity in the car (money in your pocket).
Also try to get the lease to end at a time when the car dealers do not want the car. My ends in January. Most car dealers at that time have great deals on left over models and new models (new S2K) and its winter time so who wants a convertiable then (i'm in Georgia so it's not that big of a deal about winter).
It is hard to tell what the car will be worth in 3 years, but the 2000 models are selling in the high $20K and they have been out for almost 18 months. But to be realistic I think after 30 months my car will be worth around $24K; MAYBE!!!!!
In case you wondering if I thought about this for a while....well how about 11 years!!!! I wanted a sports car since I got out of High School but.....4yrs of Engineering School....then 1yr for Masters......then 3years for law school......then 1yr for the bar.....then 2yrs starting my law practice and buying a house (almost forgot the girlfriend)!
Yes this car means that much to me!!!!!!
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