? 2006 S2000 Lease payment
01-20-2006, 05:17 PM
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? 2006 S2000 Lease payment
Hi all, I'm a new member looking to get a 06 S2000. I'm leaning toward a lease for 3 years/ 12k miles
I've been quoted about $420/mth based upon a $31.5K cost with about $2K down. I realize the final car price is good (a little over invoice), but is a 6.6% rate (money factor .00275) sound legit for the current time frame? I was hoping for something under $400/mth with a better rate.
Can anyone add any suggestions?
I've been quoted about $420/mth based upon a $31.5K cost with about $2K down. I realize the final car price is good (a little over invoice), but is a 6.6% rate (money factor .00275) sound legit for the current time frame? I was hoping for something under $400/mth with a better rate.
Can anyone add any suggestions?
01-20-2006, 10:05 PM
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6.6% isn't great, but it isn't userous, either. I'd try to find other finance companies willing to lease, Honda is not the only game in town. 5.5% would be more competitive; you probably won't find a non-subsidized rate much lower than that.
Also, you could buy a very low mileage 2004 with $420 a month with a 60 month loan. Even if you sold it in 3 years, you would pocket some money rather than walk away with nothing. If you bought a CPO car the warranty would be longer, too.
Why does it have to be a 2006 if I may ask? Is it the DSC or the fact that Hondata MIGHT be able to do a flash?
Also, you could buy a very low mileage 2004 with $420 a month with a 60 month loan. Even if you sold it in 3 years, you would pocket some money rather than walk away with nothing. If you bought a CPO car the warranty would be longer, too.
Why does it have to be a 2006 if I may ask? Is it the DSC or the fact that Hondata MIGHT be able to do a flash?
01-21-2006, 02:45 AM
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Originally Posted by S2KinVA,Jan 20 2006, 06:50 PM
Negotiate the rate (cost of money) Negotiate the price of the car. Reduce the milage to 12,000.
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01-21-2006, 04:47 AM
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Originally Posted by steven975,Jan 21 2006, 01:05 AM
6.6% isn't great, but it isn't userous, either. I'd try to find other finance companies willing to lease, Honda is not the only game in town. 5.5% would be more competitive; you probably won't find a non-subsidized rate much lower than that.
Also, you could buy a very low mileage 2004 with $420 a month with a 60 month loan. Even if you sold it in 3 years, you would pocket some money rather than walk away with nothing. If you bought a CPO car the warranty would be longer, too.
Why does it have to be a 2006 if I may ask? Is it the DSC or the fact that Hondata MIGHT be able to do a flash?
Also, you could buy a very low mileage 2004 with $420 a month with a 60 month loan. Even if you sold it in 3 years, you would pocket some money rather than walk away with nothing. If you bought a CPO car the warranty would be longer, too.
Why does it have to be a 2006 if I may ask? Is it the DSC or the fact that Hondata MIGHT be able to do a flash?
01-21-2006, 08:48 AM
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When I got into my lease last august, they were running a special:
$0 down (except for first month's lease payment)
3yrs/36,000
$30,600 agreed value of the car
I added 2 accesories which brought the agreed value of the car to:
$31,948
I pay $416.70/month
without those accesories it would have been $379/month
I don't remember the interest rate we ended up with, but it wasn't their best one. We'd just bought my wife's RSX Type-S the month before so our credit got smacked.
Don't know if that helps, but just to give you an idea of someone elses experience.
$0 down (except for first month's lease payment)
3yrs/36,000
$30,600 agreed value of the car
I added 2 accesories which brought the agreed value of the car to:
$31,948
I pay $416.70/month
without those accesories it would have been $379/month
I don't remember the interest rate we ended up with, but it wasn't their best one. We'd just bought my wife's RSX Type-S the month before so our credit got smacked.
Don't know if that helps, but just to give you an idea of someone elses experience.