Hello,

I am planning on getting an s2000 soon and my local Honda dealers are offering $350 monthly payment for 3 years LEASE on a Brand New 2007 s2000. I dont know if i should go with that or finance a USED s2000 for around 18k. Need some HELP!! thanks!

 

Doublecheck. the lease offer should only apply to 2008 models. I asked about the 2007's and they said no way. Ended up leasing the '08.

rcman

 

I am sure its the 07 model because they didnt have any 08 models. where you located?

 

Do you plan on keeping the car for awhile? Leasing has always been a pretty bad deal IMO

 

well I thought about it.. and in 3 years i know i am going to want something else..

 

read the lease deal on Honda's website. Only '08 models.

I'm in greensboro, NC

 

Yah its that same exact deal but the dealer offered it on the 2007 becuase they didnt have any 08's except the CR model.

 

I'm sure you can find a used one in excelent condition and in 3 yrs you'll be further ahead.

 

Yah im going to look for a used with low miles.. my budget is around 18k

 

on a new one my monthly payments are ~$600/month over 5 years. a 5 year old s2000 is MY03, which easily goes for $15-20k, and more if you're a good salesman. at that point i'll have spent $30k and have ~$15-20k in value in the car, so i'll lose $10-15k over the 5 year term if i sold the car the day after i paid it off.

for a lease of 3 years @$350/month, you accept a loss of $12,600 + all up front costs. if that's better for you in your situation, lease it!

IMO, $10-15k loss is not bad considering the loan interest will cost me $5-6k of it and sales tax was another $2k!