ProV1

do you know if you can extend the lease for 6 months or 1 year with the original terms?

also is it possible to negotiate the residual value of the car at lease end? b/c there's no way S2k is worth the residual value honda financial thinks it'll be worth in 3 years...

PilotKD

Don't know the answer to your first question, but I have read that Honda WILL NOT negotiate residual values from other members in the forum. There is no way the car will be worth the residual value? If anything, I would think it'd be worth more. I'm not sure I understand where you're coming from.

meth

i agree.
yeah, i have a 36 month lease, the buyout afterwards is less than what 3 year old cars are selling for now. so if things stay the same, my car would be worth more.
i am assuming you might lose some cash to try to get an extension, so i would just try my best to turn the car in on time if i were you.
i wasn't sure if i was going to keep the car, but i am starting to dig it and i will probably keep it, i just hope they offer an early buyout so i could skip a couple months of payments.

RobC2

I have been wondering the same thing. My lease is up in October 06 and the residual is around $19,000. I have very low miles and the car has been extremely well cared for. I have recently decided that I would really like to keep it, I just don't know if it will be worth it then.

meth

kbb says that an 02 today with 36k miles on it in good condition is $21164.00
i would be in this situation in 2007. i would be able to sell my car and make 2 g's.
robc2, i don't know if you will be up or not after that time.

RobC2

You are forgetting that 02's have the 9k rpm redline feature standard that is not available on 04's . That must add at least $2,000 to the resale.



(Please note that I am just joking around. I would rather suffer through a double root canal without novacaine than suffer through another model year debate.)

billyblast

My lease is up in Oct. '06 also and I have recently decided to keep the car. I hope by 2006 I feel that it's worth it to buy it!

Chris in SD

It will be worth more than the residual if you keep the mileage within limits. Buy out the lease, sell it privately, pocket the change.

If I keep the S2000, I will just buy out the lease at the end (if I don't trade it in for an '08 GT-R ).

PilotKD

Good idea.

steven975

don't forget selling a car can be a hassle. Also, if it takes a few months to sell, the depreciation may erase any gains you would think you could get.