Trendy, there are a lot of variables in a lease and you need to know them all to be able to calculate an accurate payment. A dealer can change any one (or more) variable(s) to increase your monthly payment and dealer profit. Remember, $10 over 48 months turns into almost $500. That's $500 more in the dealer's pocket. Is this a 48k mile lease or 60k miles? My residual is $18,300 for a 48mo/60k mile lease. If yours is a 48k mile lease, your residual should be higher, something around $18,900ish. You say the car is $29,538, but is there an acquisition fee? Documentation fee? Any other "fees"? What's the money factor (interest)? Money factor is usually .0022. Using a lease calculator, your numbers, .0022 money factor and an additional $300 for doc and tags, I'm coming up with a monthly payment of $338.18. This is with no acquisition fee. I'm assuming they're going to tack on another $500 for an acqisition fee when you go to sign the deal, so with that, you're payment would be $354.23. I used this calculator with my numbers before I lease my car and it was accurate within a few dollars, so from what I can see, $367.50 may be slightly high. Again, if it's $13 too high, that's over $600 more profit for them. A lease deal is no rocket science. It's math and there should be no ways around it. The problem with leasing is there are too many variables the dealer can play with and you never see them. If you negotiate X, the dealer can raise Y. If you negotiate Y, the dealer can raise Z.

What is FL's sales tax by the way, 7%? That is what I used.

Kris

 

bump..... need advice, possibly getting this weekend...

 

Assuming that you have a 6% sales tax on principal only, adn the $800 covers upfront fees and tags, you have a money factor of about .00257 or about 6.2% interest.

Rather high.

If you own a home it would be much cheaper to take out a tax deductable home equity loan.

There are many reasons to lease...guarantted resale price, residulation of options, low cost for extra miles, and no risk from loss of value due to accidents. Typically, you only pay sales tax on principal also. Aganist this you have high interest rates and upfront and return fees.

I'd like to see a payment in the 320-340 range.

 

Sorry, to me the S2000 is the kind of car you own for a long, long time. I'd never even consider a lease.

When someone says "Nice Car!" I'd hate knowing that the truth is; I'm just "Renting " it.

 

[QUOTE]Originally posted by VFROOOM
Sorry, to me the S2000 is the kind of car you own for a long, long time. I'd never even consider a lease.

When someone says "Nice Car!" I'd hate knowing that the truth is; I'm just

 

If it fits in your budget and you like the car and you don't drive too many miles a year i would suggest you just buy it. But the selling price sounds very good, I also think that the residual isn't too bad either. Think about it, a used 00 is still kinda hard to find for 18,500. And if yours only has 48k miles that is not too bad at all. And then that is including tax and interest....(money factor) Then again, I am a lay down, I don't waste all my time shopping for cars, i just buy it if i like it and if it makes sense to ME.

 

[QUOTE]Originally posted by PilotKD

 

[QUOTE]Originally posted by SODA

 

I always have looked at leases when getting a new car. I compare them to buying. I have yet to ever find a lease better then purchasing unless you are leasing the car through a business as a tax write off. Looking at your deal if you bought the car outright and made the same monthly payment via a line of credit at the end of 4 years you will owe 14,400 on the car at 4% interest rate which is easily available. Buy!

 

Only extras are dealer fee of $499 and acquisition fee of $182....

I have gone to every dealer, and most of them DO NOT believe that another dealership is leasing the car so cheap.... Here in Florida, it is hard to find a good deal on S2K's..... From what I've been reading on S2kI, this is one of the best lease payments for 4 years, with virtually nothing out of pocket, but I could be wrong....