QIKSILVR

For those leasing, did you go through Honda? Is the residual amount fixed according to the number of years of the lease? How did the process work wrt a trade/downpayment, so using simplfied numbers:

Assume msrp/freight/pdi/bullshit = 52K
Start with no money down, 4 year lease.
For arguments sake assume residual value at 30K.
Total cost of the lease for 4 years with interest is 30K which means about 625 month.

So that is a starting point.. then add a trade/downpayment of say 5,000, would my monthly payments then be reduced to 30K-5K/48 = 520/month?

Of course these are all arbitrary numbers, if someone doesn't mind posting their leasing arrangements here, by all means do so or pm me please, I'd like to get a rough idea on what I can expect if I decide to go through with it.

Also, how would leasing a used S work if at all possible?

Muchos gracias!

matrix

Jarek, this is going to be highly dependant on the interest rate they charge you.

Basically, if you put down 5k you are only "paying" for 25K of the car (the other 30K is residual still) and so you will be paying interest on that amount (25K). So it won't be a staight mathimatical formula of that amount from your original 30K as that amount included interest. ie your paying interest on the 5K you just put down...you won't be charged interest there.

I guess you already played with the online calculators on Honda's web site?

Mindcore

If you want, you can call my buddy, he can give you a lease quote with no hassle. It would give you a starting point to compare to dealer rates as well.

His payments are higher, buyback lower, but when you add them together, its almost always cheaper overall.

his name is Dave, Sprucewood leasing 416-200-0700

Mindcore

Oh ya, I financed, so I have no idea how much I'm getting ripped off

agisd

if the buyback is lower then this is not good for leasing since u lease because you will probably not buying the car at expiry...

good deal is when buyback is high and interest rate is low...

agisd

[QUOTE]Originally posted by quick_lude

Xplosiv

[QUOTE]Originally posted by agisd

MOTU

Speaking of ripping off, I think we should raffle off the rights to RIP the tape off Mikes face. This should of course be video taped and posted on Simons site. A back hair waxing would make for interesting watching as well.

wing

Hmmm, yeah interest is going to be much higher.

So my Honda lease (although I took it over), I am paying $535 a month. This was with $10,000 on a 3 year lease at a purchase price of $44,000, buyout is $27 I think.

Lease interest rate is almost always rather high, in the 7% range.

So lets assume 7% interest. $52,000 out the door (which might be tough), $5000 cash down, $30,000 buyout.

Lease rate would be about $580 a month.

I could be wrong but these numbers seem a little optomistic.

I think it would look more like this:
MSPR $48,000 lets say you get it for $47,000

$47,000 + 995 Pdi + $100 air tax + $75 gas tax + $200 admin = $48,370 * 15% tax = $55625

$5000 down, would leave $50,625 lease cost.

Residual I think over 4 years would be close to $25-$26. Lets say $27,000 for fun.

Total lease amount: $23,625 Assuming 7% interest rate.

Your looking at $590 a month after tax.


Wow that seems pretty good, here's the thing I have noticed though, any lease on an S2000 seems to be in the $800 a month range so either these other guys are getting ripped BIG time, or they put nothing down......

Best would be to call a dealer and get a real number.

Mindcore

[QUOTE]Originally posted by agisd