Hi ,I'm new to the community and I have a little bit of a dilemma.I work for Honda Motor Corp. in Torrance.I wanted an s2000 since it came out back in '99 but was always practical about my ride. Currently I have a Civic hybrid which is a company lease so I only have to gas it,no insurance or maintenance which is a sweet deal considering I live in Southern CAL.I can get an '08 S for 30,300 + tax and license or I can get on the new lease deal for $350/month so I'm not sure what to do.I can also lease an 08 civic SI for 330/month and not worry about down payment,insurance or maintenance. Decisions,decisions...... any of you can give me some pointers?

 

I'm trying to decide if i want to lease myself. Decisions decisions.

 

Like most private party leases the tax savings aren't there for you so it boils down to a very simple proposition. Lease equals less out of pocket money up front but higher cost of ownership while you have it. Buying(in particular for the deal your getting) is a wiser financial move looking the big picture, the car will cost you less to own, in particular if you plan on keeping it longer then 3 years. I just ran the numbers, the lease deal is pretty good, if you only want to keep it for 3 years the small premium your going to pay may be worth it.

After you commit to buying your first vehicle and you establish equity in it, it becomes easier and cheaper to move up the pipeline.

For $20 a month get the S2k, you say you've wanted one since 99, you've waited long enough make your dream a reality and enjoy life.

 

Buy if you want to keep it. Lease if you aren't sure. I remember my boss leased then decided to buy and they had to get a loan & the price was high too.

 

with top tier credit, the lease deal amounts to something near $2700 off msrp and a 1.3% interest rate. you don't _have_to_ put the recommended amount down and can configure things to your liking. just make sure you're getting the whole capital cost reduction and the right money factor (0.00054 mf or 1.3% apr).

you can beat the discount easily by buying an 07 instead, but a 1.3% loan will be hard to match. buying an 07 becomes a better option if you would rather put down a lot of cash.

you will need either a lot of cash or godfather-like negotiating skills if you hope to buy an 08 with a lower total cost of ownership than the lease deal. your credit cards run you maybe 20% apr, your mortgage maybe 6-7%, and a "normal" new car loan maybe 5.5% or so... 1.3% is like borrowing money for free!

 

It should be soaking up rays in your driveway as we speak.

 

Thanks for the replies,I've never owned any car more than two years and I get bored of them easily but then again I've never owned an S2000.I'm not sure if there will be an '09 model so I was hoping to get a last year model since nothing out there catches my attention as much as the S. For the guys that have lived with the S for more than 3 years if you can give me an idea of actual cost of ownership (tires change,maintenance,etc....) that would be great. Cheers.

 

I'm not a guru on buying/leasing cars but, I'd say purchase the s2000 once you drive it you'll have a smile on your face for the rest of the day. I love my S and I've also wanted it since 99, and everyday i wake up and open my garage i pat myself of the back for making a smart decision in getting an s2000.

Now I've had my s2000 almost two years and, tires, maintenance, varies greatly. For example my 1st year i drove 13k miles on kuhmo spt tires $400; I just bought new tires falken azenis $650. Maintenance only oil changes which come up 3k-5k miles depending how much you drive this could burden you. Thats about it. Its not hard to keep up with a stock S its when you start modding which 90% of all s2000 owners do that when you start using alot of money. Hoped i helped

P.S.
S2000 get 2x girls as Civic Si

 

I've considered getting a new S2000 and I'm thinking about a lease as well.

Try out this tool to compare loan vs lease.
http://www.cars.com/go/advice/financing/ca...alse&flt=n_rval
One thing to consider about the cost to own this calculator gives you is that it doesn't account for financing (if you need it) on the buyout price of the lease.

The current $350 deal is quite a bit off MSRP. However they've had a $299 deal on S2000s before, but considering how weak the dollar is I'm not sure if this will come around again.

 

buy my 2007 S... 4,800 miles, $26k
perfect condition. silverstone on red/black leather

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