DWynne

I finally got to drive an S2000 (2000 with 19k).

I enjoyed it, and I am thinking of getting one if I can get around the fact that it has no torque :-)

Is anyone leasing their S2000? What kind of residual and money factor did you get? For what term and mileage? One dealer told me 67% and .00250 via Honda Financial on a 3yr/36k lease - which does not sound like a great deal to me.

Thanks!
Dennis

minboost

i was told the .002x thing today too. I am *hopefully* signing my lease and driving my 2002 S2000 tomorrow

I am *promised* a cap cost of $33,800. I don't know the residual, effective APR, or anything else but I do know it was $1000 drive-off w/ $569 per month for 39 months and 15k miles per year. I am in Los Angeles, CA.

I called a few dealers and all of the "MSRP" dealers has cars with options that I didn't want. I even called the dealer in Arizona, as recommended by the NSX-modified web site and they told me to jump on this deal. That was the same response I got from a couple dealers I called; if I can really get the deal I was promised then they said go for it.

Hopefully it turns out well and hopefully these numbers give you a reference point to work with. I looked on this board and saw a few people with what seemed to be much better rates then I am getting but NO WHERE I called would even match the rate I am ending up with. *shrug*

DWynne

California, like TN is a land of high taxes?

Here you pay 6% of the base lease rate per month as state tax. So a $400 per month lease is $424 per month. Title and license fees are resonable though - tags are $59 per year including the county money.

Go to

http://www.leasecompare.com

I put in a 2002 S2000 and said I lived in CA, $33,800 MSRP, $33,800 selling price, $0 cap cost reduction. It came up with offers of $478 per month (.00227 61%) for a 39 month lease. There were other options but that was the best deal. This does not include taxes, so here that would be $506.68.

I just noticed your quote was for 15k miles per year, I re-did the lease and it came up with $486 (.00227 60%). Here that would be $515.

You really should look at the numbers before you sign. It they have you at a high money factor and a high residual, then you will probably not be able to make money buying the car off the end of the lease. Right now, I would love to be coming off a S2000 lease with a residual of $20-21k. Even if I did not want to keep the car, I could make money selling it to someone else.

Get the numbers and a break-down, sounds like you can do better at LeaseCompare. Also get a quote from LeaseBytel.com . You can't get it online, but you fill out a form and they call you.

Dennis

minboost

i'm about 10 minutes away from owning the car. With CA taxes @ 486 it comes out to $526 after tax (it's sales tax, isn't it? or is it something else?). Also, I don't know if there are other charges we are not adding in the equation but I am $33 off of my quote of $569/mo (but then again, I have a 1000 cap reduction (akak drive-off). The residual is ~$19,000

I decided to change it today to a 48 month lease which put me at ~$520/mo. The residual is $18,000

I could care less about buying the car at the end. By the time this is over, my car will have 60k+ HARD HARD miles on it so I'll want a new car.

znatural1

I leased mine for about the same payments with the factory spoiler, side strakes, and front lip. I paid just drive off which were about $1000. You will love this car!!

DWynne

Even if you don't care about keeping the car, if the residual is low enough you can buy the car and sell it for a nice profit.

Maybe in 48 months 2002 S200s will be selling for $22,000 and you can make a $4000 profit selling your car rather than turning it in :-)

Dennis

minboost

I got it! They *tried* to change the terms without telling me but I caught them and so I ended up with:

1000 drive off
36 mo/15k miles per year
$58x.xx/mo.
$21xxx.xx residual

I am happy. I know I may have gotten a better deal but I'm only 22, my credit is young, an I got the color I wanted so who can complain? My S2K search lasted all of 3 days from start to drive off.

I must comment that Jimmy Lee of Honda World in Downey, CA, who is also an S2K owner and on this board, provided excellent service to me and made the whole car buying process simple and honest. I highly recommend seeing him if you need to buy a honda in so. cal.

mosfet42

Buy the car... I bought mine for 30k brand new, 584 a month for 60 months.

If I were ever to get in financial trouble I can always sell it, and the value does not drop that much over three years. 30k when I bought it, could sell it for 38 upon delivery. Buy your car in the north in the winter, sell it in Florida or CA in the summer. They sell for 35 - 38 around here. Good luck no matter what you choose to do.

MattH25

I pay $450 a month on a 48mo/15k mile a year lease. My credit was awesome but only having 2 years of credit history really sucked. Oh well, my lease payment is the only bill that ever puts a smile on my face....makes me think of my car

DWynne

Hey, if you can afford it that it is not too much

I am doing more than that on my 'vette, but not by much - and it was a $50k MSRP car.

Hopefully in three years you can even turn a profit by selling someone else your car for > $21xxx.xx .

Enjoy your new ride, and post some pix!

I will not be able to do anything until the lease is up on my 2000 Corvette contertible, but I only have a few months left. Hopefully I will be able to get a deal on a 2002 or 2003 car at that time.

Dennis