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S2000 off the three year lease.

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Old 04-15-2002 | 03:40 PM
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Default S2000 off the three year lease.

I'm looking to buy a new car in the next fall. How much do you think a S2000 will cost off a three year lease? I bought my first car new, and would never do that again. It felt like I wasted way too much money. So what should I watch out for when I'm buying and how much am I looking at?
Old 04-15-2002 | 04:10 PM
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Depends on the year, quality of care of the vehicle, and if the seller is private or dealership... honestly, I haven't the foggiest clue what they would charge, but if you're leasing a used vehicle (as it sounds you wanna do) then I would be very wary and do the "140 points" inspection
Old 04-15-2002 | 04:18 PM
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Well, American Honda Finance says that the car will be worth 66% of MSRP after 3 years, so that puts it in the neighborhood of $21,650.
But judging from the market that I have seen, you should be able to pick up a '00 for between $25k and $28k, depending on condition.

Of course, that is the market today, who knows about next year. My guess would be low to mid twenties.

Hope this helps.

boyracer
'01 Red/Blk #2112
Old 04-15-2002 | 04:21 PM
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Thanks for the inupt. These figures sound like something I could work with.

BTW, I'm hoping to buy a car that just came off its three year lease from the dealership with the 140 point inspection.
Old 04-15-2002 | 04:35 PM
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I've leased one vehicle (my last) and I know how hard I ran that thing. It wasn't an S2K, but you'd regularly hear me say "it's not my car. It's just a rental." Now, knowing what we all know about rental cars, would you buy one of those?

I think I've already seen S2000's go for under $25k, but those might have been a little messy. By next year, you should be able to easily pick up one for that price that was properly cared for by a loving owner.

Just my $.02 (or $.03 Canadian)
Old 04-15-2002 | 05:41 PM
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3 year lease depends on what you put down. The monthly will be high if you put down anything less than $10K CDN.

I can tell you that I've looked into myself and for 36 months the prices are steep! But what isn't expensive in this pathetic country of ours?????

As a comparison, I was willing to put down $10,000 for a 48 month lease, and the monthlies took me to just under $700/mth. This is without insurance and maintenance..

Good luck in your search..

-simon2000
Old 04-15-2002 | 05:50 PM
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[QUOTE]Originally posted by simon2000
[B]3 year lease depends on what you put down.
Old 04-15-2002 | 06:44 PM
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Just got back from the dealership and they offered me 2500 $ down and 455.48$ a month for 48 months as a lease. Versus 5000$ down and 600.00 for 60 months to own it. I thought this might help you, but I also wanted advice as to which makes more sense. They also have AN LPP for 520.45 a month for 48 months with a balloon payment of 19000 to purchase. Anyone have any advice?
Old 04-15-2002 | 07:36 PM
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If you lease don't put a penny down on it. You are renting it and at the end of the term you have zero equity in it. Just drive it like you stole it. Don't forget about mileage limitations. Keep your down payment and invest it elsewhere. There may be advantages if you can write the lease off for business. The dealer is going to make the payments fit according to what you want to pay per month. When you lease the dealer always always makes money.

Now if you really want to call it yours...and thoroughly enjoy all of your detailing and extras...buy it over a 5 year period. This is what I did...(note I am quoting Canadian dollars)
10,000 Down, 5 year term at 6% interest which is a hair over $800/month. At the end of 5 years it's all mine and paid for. I can also sell it at any time in the 1st year to 5 years without any penalties.

If I had leased over 4 years I would have had to put $10,000 down and I figured that I would have paid about $35,000 after adding all of the payments over 4 years more to rent it and the car new is worth approximately $50,000. The buyout is usually around half of what the car is worth new. So why throw your money away.

The bottom line is that I am thinking long term...I want this car as a collectable.
Old 04-16-2002 | 06:08 AM
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I just recently got mine for Zero down and $420.00 per month with a trade in of $1200 in negative equity, so basically they gave me $1200 and the lease at $420.00, which is the best I have seen yet from anyone on here...or so I think


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