Sorry first post guys. A local dealer in Chicago is running a special for a new 2003 S2000. It is a lease with no money down, 349/mos for 36 months/12,000 miles per year. For the guys that lease does that seem like a good deal? I am in the market for a S2000 in about 1-3 months.

 

It depends on a few things...

1) What's your credit like?

2) How much is the DP?

3) What year S2K?

4) Warranty?

5) Extra / Factory Options?


It seems a bit shady (w/o throwing around 5-6K down). I used to sell cars and I've f'd some people over. I don't feel good about it, but made some $ doing it. Be careful. I would make sure to get the "final" figures. Cause they'll always come back a week later saying " oh your package wasn't approved by the bank." I would ask to be financed through AHFC.

By the way... Big Up to Chi-Town (Born in Arlington Heights)!

 

4Motto,

It depends on only two of the things you listed.
1) What's your credit like?

2) How much is the DP?
None, see his post.

3) What year S2K?
2003, see his post.

4) Warranty?
It's new.

5) Extra / Factory Options?
He would have to find out.

 

i leased my '03 S, and i would say that the deal you have listed sounds legit. the factory supported residuals have been pretty high on the 3/36 lease.

HOWEVER, you cannot properly analyze a lease offer unless you know the agreed-upon selling price, the capitalized cost, ALL FEES...aquisition/disposition/excess mileage, and the residual value. if you do not knwo what these are, then do all the research humaly possible before you go back to the dealer.

DO NOT sign a lease agreement unless and until you FULLY UNDERSTAND the contract in its entirety. there are waaaayyy too many ways to get royally screwed on leases.

i'm betting that the "no money down" refers to zero capitalized cost reduction. to get the $349/mo, you're gonna have to write a check for freight, processing fee, lease inception fee, sales tax and tags. don't be surprised if it ends up being $349/36/12,000 but with $2,500 required to close the deal!!! this is just my guess, but dealers ahve a way of framing an offer so that it's legit, without fully disclosing all of the details.

 

Well, for you people who are familiar with Dave Ramsey of the Dave Ramsey show, he says a lease or "fleece" as he calls it, is the biggest ripoff a dealer can hand to you. They make more money on leases than they do selling the car to you. Check him out at www.daveramsey.com. I think he knows of what he speaks.