The 05 S2K lease is an excellent deal. When I ran the numbers in August, it made more sense than financing, so I went with the lease. This lease deal is equivalent to 1.75% financing, pretty good for a Honda.

When I ran your numbers, it looks like they are selling the car to you for $30500, about $200 over invoice. But, that assumes no taxes. What is your local tax rate?

Also, normally, you are required to put down first month, deposit (one month payment), and acquisition fee up front. That's normally not flexible. Depending on your state's rules, sales tax may be up front also (some states allow it to be rolled into monthly payments).

You can get my S2K lease spreadsheet at:

http://members.cox.net/craig.hunter/s2k-lease.xls

Let me know if you have any questions on the spreadsheet.

Get the car, it rocks!
Craig

P.S. Don't negotiate on monthly payment -- negotiate the price of the car first, and then let the payment come out in the wash. Most people pay invoice or lower nowadays.

 

I guess you misread.
I said "Here is the deal I cut with my local dealer.
$349/mo 36/36,000 with only first payment due at delivery"

No cap cost reduction.

Skier, thanks for your input. No security deposit and they are rolling the acquisition fee and taxes into the payment. In summary, I'll owe 35 payments of $349 . .nothing more, nothing less.

Thanks for everyones input!

 

i couldnt walk away from this deal either. i got mine for $373 (incl. tax)/month, for 36 months and 15k miles/year. only fees due at signing were the first month's payment and dmv crap.

 

I have a few questions about this as this sounds like a great deal to me.

1) So if I intend to buy it after the lease is over, I can modify it however I want?
2) II intend to buy it later, and I go over the 12k miles a year I would still need to pay over milege or only if I don't buy it?
3) Where do I sign?

 

yikes, i shoulda leased. you should try to save some extra money each month since your payment is so cheap, then at the end of the lease, sink some $$$ into that bad boy

 

I was wondering about this too; I'm going to do very little to the car and err on the side of not violating the lease agreement. After all, technically I'm renting the car from the dealership. Call me chicken!

However, I suppose there would be no harm done if you kept all stock parts and then returned the car (assuming you didn't buy it) in "stock" condition at the end of the lease. Guess it might depend on the relationship you have with your dealership.

Whatever you decide to do, have fun!

Cheers,
Diane

 

Wow, that is a great deal.

I got $384 with 12k mi, wheel and tire warranty and no costs at time of delivery.

Congrats!

 

don't forget about sales tax if you are in area where that is applicabale. i'm pretty surprised the dealer was willing to compromise that much on the monthly payments with only first month payment as down payment.

how many miles were on the car...just out of curiousity.

 

My payment would be $349 .. this includes all applicable state and local taxes.
The car has been in the showroom. Odometer shows 0.3 miles.

 

highly doubt it, but good luck with it anyway.

btw: cars that have .3 miles are still in Japan being tested....not in new car showrooms.