What's the lease residual value of a new S2000?

I am on the fence about getting one because I can see myself getting something with 4 seats in a few years (probably upcoming BMW M2). But to fill the gap for 3 years, I am thinking of getting an S2000. It's a fun car, but I don't consider it to be a valuable collector in the future.

I could buy the car and then just sell it in 3 years, but if the residual values are over-inflated, it may be better to just lease it. I'd know for certain what the car will be worth in 3 years and I won't have to go through the hassle of selling it.

In addition, since I tend to baby my cars, a lease might prove very liberating. I could use the car daily, and also track and autocross it. I also wouldn't have to put my "owned" cars out of the garage (as I would if I bought a brand new car I planned to keep).

Does Honda have a good money factor (APR)? Is it fixed for all leases, or does it depend on your credit score? Also, is the residual value based on a % of MSRP or is it based on the negotiated price of the car?

Finally, what's with the Honda Assist Lease-Purchase plan? You own the car but you have a balloon payment after 3 years....so you can choose to just turn it in if you want to? That sounds like an ideal plan -- any downside to that?

I've never leased before, but I'm sort of excited about the possibility. I can get a nice car and I won't have to obsess over it. Any insight or tips would be most appreciated.

Dealers are welcome to respond too. I can travel to pick up the car.

 

I don't have all your answers, but can tell you that you look to be a good lease candidate because you are asking the right questions. Some will tell you leases are always bad - that's not true, it depends on the numbers and what you want.

Honda finance money factor has been competitive. It has been comparable to going rate for financing, but you should always verify. I don't know if Honda finance adjusts money factor based on credit score, some banks I know do. Residual is based on percent of MSRP, so a low purchase price really helps you. Expect a residual around $22k on a 36-month/36000 mile lease - your dealer should tell you the residual. Also, Honda has a lease deal where for a very small increase in money factor the security deposit is waived, making it a true $0 lease (never put ANY money down on a lease - there is no advantage to). I don't know about the lease-purchase plan, sounds like a balloon loan, but not sure.

 

I am currently leasing my 01 S2000 and it looks like my residual will be slightly more than what the car is worth (market value) when it comes up this summer.

My residual is 20,950 before tax, and although I am WAY under miles for my lease, I don't think I can sell the car for what the residual would be. I am still considering keeping it and just buying it because I have really babied her, but it also doesn't make sense to overpay either. I have heard that some people have negotiated with their leasing company (in this case = Chase), but I also was informed that many companies are now taking out insurance against values dropping so they won't negotiate. I am also considering turning it in and leasing an 04 because my payments would drop (things were way different in 01 price-wise), and I'd get a new one to play with

For me, leasing also makes some sense because I do get a tax write-off from leasing for my business.