I am currently in the market for a second car to accompany my MINI Cooper S in the garage. I am pretty set on leasing a certified used car through Honda. I am looking at MY00 or MY01, because I want to keep the payments as low as possible. I was just wondering if anyone has leased a pre-owned car through honda, and what your payments were etc... TIA

Ryan

 

for a 3 year lease on a car costing $20K and a money factor of .0025 (6%), the payment will be right at $300+tax.

this assumes a residual value of $12000 in 3 years. this value is set by the lessor and is not negotiable. bottom line, negotiate a low price and fight for a good interest rate. leases have interest rates, they just call it a money factor.

 

Yeah I am hoping to get a money factor of .00208 for 4 years. Using Edmunds.com I calculated my lease to be around $285 a month (tax included), this is assuming a purchase price of $21,000 with a residual of around $12,000 and nothing down.

 

??? put ur mini -S in the garage and drive S daily ???
sounds like it should be the other way around !!!!!!

 

I thought he was just picking up a 2nd car. I didn't see where he said one would be the daily driver vs. the other.

Anyway -- I think it's silly to lease a 3 or 4 year old car for another 4 years. You'll be paying on a 7 or 8 year old car - that you're never going to own. Why?

I know the CPO thing is attractive, but I'd rethink the financial decision.




BTW -- what do you think of the MINI Cooper S?

 

leasing is pretty much the same as buying then selling in 3-4 years. only thing is, the lease has no resale risk.

sure it's a 7-8 year old car, but the lease is cheaper.

while some think that they have "equity" after selling a car they own, they have already paid for it with higher payments, so it is NOT a profit.

if you know that you'll change cars in 3-4 years, leasing is the best decision.

 

Yeah I realize that I would be leasing a 4 or 5 year old car, but I am really getting this car for pure fun, and want to have the lowest payments possible with a little piece of mind that supposedly comes with the CPO warranty. Let me clarify, the S2K would see as much driving as my MCS. I really don't have much of a commute to work, so I would probably alternate between the two. Who knows, maybe I'll forget all about the Cooper

I really love my Cooper S, it is a FWD, but it handles great and since it is supercharged, the car responds well to mods. Just a I/E, chip, and 19% reduction supercharger pulley ($1300), and you are looking at 205 hp at the crank from a stock number of 163 hp. Granted it's no speed demon, but it holds it's own with many cars out there. Plus for the price ($21,000) you get a lot of car IMO. But the S2000 was always my first love from the day it came out. I just couldn't justify spending $30,000 on a 2 seater, but now I decided to just get it

Ryan

 

I thought the Mini Cooper S was rear wheel drive? I drove one about a year ago and I remember that one being RWD... I had the traction control working like crazy around a wet corner...

Maybe my memory is fading?

 

Gotta be your memory...I don't ever remember the mini's being RWD...always FWD.