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Which would you buy/lease?

  • Solstice - $336/mo

    Votes: 43 64.2%
  • S2000 - $299/mo

    Votes: 24 35.8%

  • Total voters
    67
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Discussion Starter #1 (Edited)
Honda is running incentives on their S2000s. They are leasing them for $299/mo for 36 months. That would be cheaper than a Solstice.

My original attraction to the solstice was the styling and the fact that I could afford to keep my liberty and get a solstice. The S2000 styling isn't as good, but it is a purists sports car. Although I've always loved the S2000, I never considered it because by the time you put a couple options on it, it goes over $35,000.

The other consideration is that I can walk down to the Honda dealer Monday and probably be driving an S2000 on tuesday.

Oh boy, now I'm torn. Why'd they have to go and do that?

Gee, I wonder what caused Honda to do this.. :rolleyes:
What would you do?
 

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I feel your pain. Add in the good very early reviews and good prices for the NC MX5 and decisions become harder and harder.
 

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I don't think you can go wrong buying or leasing an S2000 nowadays. I've read deals on www.s2ki.com of $29,200 purchase deals for a new(!) S2000.

You can argue that the S2000 is devalued because it's an older model, an older design, but look at it objectively, and it's a good value: good performance, Honda quality, reliability, and it holds value pretty darn well. 2006 or 2007 will probably be the end of the S2000 run, if that matters.

One of the bad things about the S2000 is the Honduh/ricer culture around it. Every kid in a lowered POS Civic looks at the S2000 as a peer and wants to test their mettle (and metal) against it.
 

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Discussion Starter #4
Well the dealer near me has a yellow S2000 in stock, so I'm going to go takea little drive. $299/mo is going to be pretty heard to turn down. I'm really going to have to do some soul (or is that sol) searching before monday.

Just to make the decision a little harder...



 

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Well, Doc, when you put it that way it's a no brainer...the Sol wins hands down! :) I will state that I am anti-Honda (and therefore biased) but to me the S2000 has never been anything special in the looks department and the around town drivability doesn't impress me either (I have driven a 2001 and a 2004).

Hold steady and resist the force...the Sol will be worth the wait!
 

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Never make a decision on a car based on the monthly payments. That's a suckers game that the dealers love to play with you. Evaluate based on the total cost of ownership/lease and then make your decision. Leases are generally bad deals too. Buy if you can.

How much money do you have to put down on the lease? How many miles can you drive it? What are the penalties for going over the mileage limit? What's the dealers reputation? Some of them really put it to you at turn in. Excessive wear and tear, find out what that means. Good luck.
 

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No way I would consider a lease on the Sol. With the demand for them the way it is, I may very well be able to drive it for a year or so and still get what I paid back out of it. They've already sold out half of the year's production and the car hasn't even hit the streets yet. With the slow production process for this car and its amazing looks, people will be clamoring to get this car for at least the next year or two. And if they have to wait six months to get one from a dealer, used models are going to hold their value very well.

Leases might make sense in cars that are bound to depreciate quickly, but a hot roadster like this with such a low sticker price isn't likely to drop so fast. With a lease, you're going to pay over $10,000 in the three years, not to mention any up-front costs. At the end of those three years, there will still only be something like 60,000 of these cars on the road. They should certainly be worth more than the $10,000 difference at that point. I know you still have the option to buy the car, but they'll screw you over for going that route. Buy the car now at MSRP if you can get it.

As it stands, the choices on this poll are about as appealing to me as if they were

1. I'd like to get punched in the gut
2. I'd like to get punched in the head

How about a real option?
 

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I say hold out for the Solstice. :yesnod:

During the time you are waiting for your Solstice, you could be saving more for a down payment on the purchase, working to lower your monthly loan payment. :yesnod:

I myself have been putting away at least $500 a month since I ordered my Solstice. I figure that the monthly payment + insurance premium payment shouldn't be any more than that. So I have already adjusted myself to the new monthly budget, and will have the bonus of several extra thousand to put down as a downpayment.

I've also been using my GM Card for all my purchases, to maximize my GM rebate by the time my car arrives.
 

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s2000

After 36 months you have to give it back you don't own it. Thats one big thing against a lease. I would never lease.But do what you think is right for you.
 

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Well that's the lease price of a S2000 vs the purchase price of a Solstice. Wouldn't a leased Solstice cost even less?
 

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if you buy the car, you own it. if you lease the car, the dealership owns you.

which would you like to be - the owner or the owned?
 

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Honda's Lease Specials Web Page
HONDA S2000 LEASE said:
2005 S2000 Special AHFC Special Featured $299 Lease

$299.00 per month for 36 months.

$2,499.00 capitalized cost reduction.

$3,693.00 total due at lease signing (includes first month?s payment, security deposit, capitalized cost reduction and AHFC upfront acquisition fee; total net capitalized cost and base monthly payment does not include tax, license, registration, options and the like).

Model AP2145ENW.

Offer valid from 6/1/2005 through 7/5/2005. Not all buyers may qualify. Subject to limited availability. The specific featured lease listed is not available to New York residents. New York residents should contact their dealer for New York featured lease. Terms and conditions vary for New York Residents. In addition, AHFC limits leasing terms to 39 months or less to residents and dealers in the state of Rhode Island.

FEATURED SPECIAL LEASE: Closed-end lease for 2005 S2000 (Model AP2145ENW). MSRP $33,665.00 (includes destination). Actual net capitalized cost $29,333.63. Dealer participation may affect actual payment. Taxes, license, title, registration, documentation fees, options and insurance extra. Total monthly payments $10,764.00. Option to purchase at lease end $19,862.35. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year. SEE DEALER FOR DETAILS.
Sitting at home, so do not have access to my lease calculator (I will come back and add math later or google a lease calculator site), but given the same or simular parameters, I would guess a Solstice lease payment could come in at or under the $299 of the Honda.

12,000 Miles Per Year (surprised it wasn't 10,000): GMAC can do that.

59% residual: Under current GMAC programs, many cars are around 58%, and it is near model year end. Would think it would be do-able for the Solstice, that is hot desirable and at model year start.

$595 up front aquisition fee: GMAC's fee (same amount) is rolled into payments. That would give either $595 less you would have to put down or $595 more as a cap cost reduction (which could lower the payment over $17 per month).

$300 security deposit: Could be same with GMAC, although most current lease deals waive the security deposit. So like above, that would be $300 less you would have to put down or $300 more as a cap cost reduction (which could lower the payment over $8 per month).

Lease End Cost/Fee: Dosen't mention one, some leases have a fee if you do not buy the car at the end. In years past VW would have a $250 fee, don't know if they still do, I would doubt they do. GMAC dosen't.


$1,800 Off MSRP: Haven't checked to see if that is common, but Honda wouldn't advertise if it wasn't do-able. But that is the part were it says "dealer participation may effect". UPDATE: Checked out Edmunds TMV with a Detroit zip code (which dosen't start with a zero, lucky dogs), price looks in line.

So that is a quick look at the Honda lease. As I posted else where, we will not have any special GMAC lease particulars (if there is one) until just before the cars hit the dealerships.


Here is some more info:

http://www.leaseguide.com/calc.htm

Using a $24,500 MSRP and Selling Price, a 59% Residual, 5% Lease Pate (just a guess), $595 Aq Fee in the lease and $3,300 Cap Cost Reduction the 36 Month lease payment was $279.29.

Detroit Doc said:
If I did decide to do it, I'd pay the entire lease up front (which brings the price down even further).
GMAC also discounts the lease rate for SmartLease Plus (single pay leases). Although if I remember correctly, you can't use a cap cost reduction of cash. Figure the payment with out it and multiply by 36.
 

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Discussion Starter #15
Just for reference guys I was comparing a Solstice lease to a S2000 lease. The buy price on a solstice would be over $400/mo with a similar down payment.

I agree that I would rather own. However the payment on an S2000 would be over $600/month. That's why the $299 lease is so attractive.

If I did decide to do it, I'd pay the entire lease up front (which brings the price down even further).
 

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Detroit_Doc said:
Well the dealer near me has a yellow S2000 in stock, so I'm going to go takea little drive. $299/mo is going to be pretty heard to turn down. I'm really going to have to do some soul (or is that sol) searching before monday.
are you trolling? or is this just a joke? either way, the choice isn't even close. if i made my choice solely :) based upon financial considerations the solstice would still win or can't you do the math? if the math matters, why would you let a clear depreciating asset prevail over a possible appreciating asset? i think you are trolling and we all know dnftt but, I'll bite, what happened to the drive in the solstice??? ;)
 

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Doc,

You'll be kicking yourself in the *ss if you bail now.

Why the Solstice....

- Incredible styling
- All new production design
- Very Limited production numbers
- Sure to be the envy in your town for quite some time to come

And last but most important:

You're gonna really miss all the great people on this forum!!!

:cool: :yesnod:
 

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Discussion Starter #19
2Xphoenix said:
are you trolling? or is this just a joke? either way, the choice isn't even close.
No, I'm not trolling. You act as if paying $299/month for an S2000 versus $336/month for a Solstice is not a comparison that would demand some consideration. While the solstice is hands down the better value when you compare it at $20,000 to $34,000 for the S2000. It's a different comparison when the costs are similar. The S2000 has been on the 10 Best list numerous times. The automags rave and rave. Car and driver rates it ahead of the Audi TT, BMW Z4, Porsche Boxter, and the 350Z in a direct comparison. (Car and Driver comparo )

if i made my choice solely :) based upon financial considerations the solstice would still win or can't you do the math? if the math matters, why would you let a clear depreciating asset prevail over a possible appreciating asset?
If you think that a solstice (or any other production car) will appreciate, you are living in fantasy land my friend. Just like every other mass produced car in the world, a $25,000 solstice will be worth $12,000 after 4 years. It's only after a car is 20 or 30 years old, that it has a any chance to start going back up in value.

i think you are trolling and we all know dnftt but, I'll bite, what happened to the drive in the solstice??? ;)
Sounds like you are the troll. Go read my other thread, it's been updated with all the info I have at this time.
 
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