Hello all, I've been reading the boards for a few months and have been patienty waiting for the lease on my 2000 BMW 323 coupe to end. The S2000 has been at the top of my list for my next vehicle. I am supposed to be taking delivery on Monday 7/7/03 of a 03 Silverstone/Red. Just was wondering if I am getting a good deal on the car. Here's the info: 36 month lease, 12K miles per year, $2500 due at inception, monthly payment is $349.38 including tax. I am located in NJ. I received the original price quote from Garden State Honda located in Clifton, but they didn't have the color I was looking for, they only had Spa Yellow and Black and weren't willing to swap with another dealer. I ended up at DCH Kay Honda in Eatontown and they matched the price and were willing to swap with another dealer to get me the color I wanted. Am I getting a good deal ? Thanks !

Anthony

 

I assume you can find a web site that has a lease price calculator. I bought a new 2003 S2000 for under $30k this week, so use that for the value of the car. As I recall, you need assumptions for interest rate, residual value, and maybe one or two more factors.

 

I have never found a lease that in the end came out better then a purchase unless you can right it off with a business. With the very low interest rates I would look at buying the car. If you have a home equity line of credit available its a no brainer. Current rate is 4% on mine and its tax deductable.

 

I am a CPA and have looked at lots of angles regarding leasing vs buying and I have to agree with GeorgeP.