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Discussion Starter · #1 ·
OK well my insuramce will go up a whopping $11 a month. Second if I decided to lease it for 36 months instead of financing for 60 up front my monthly payments would drop like a muthaf****r and I'll be in much better financial shape in three years then I am now. Besides having no trunk and no back seat why should I NOT get this car?

To keep this lude related besides the trunk and back seat what other advantage does it have over a S2000? And how would the S2000 compare in handling to my SH w/TEIN's and Dunlop tires?
 

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THE LONELY MONK
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okay...lets make this simple.. would girls like the prelude more..or the S2000?

--Sam

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With Great Powers Come Great Responsibilities--Never Underestimate the Power of the VTEC
 

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Hey if you can afford it get the S2K. The only problem with leases is that you can only drive so many miles a year and you can't do any major modifications to the car (well at least ones that can't be reversed). We all know how addictive moding can be


Gabe

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97 Prelude
see it here:Hondaprelude.com
 

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The only reason I can think of not to is the lease vs. buy arguement. I suppose you could always buy the car at that point...
 

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Don't they normally rob you when you decide to purchase after the lease is up?

Anyone with any personal experience on this? I'm looking at getting my girl a V70 T5, and lease is WAY cheaper.

JP
 

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Discussion Starter · #9 ·
Well here's the deal with the lease thing with me. I did that with my Lude for the first 24 months. I've done it before too, if I like the car I keep it at the end and finance the difference. If I don't like the car or want something else I sell it privately before the lease is up. So that let's me mod as I want too and usually I don't do anything that can't be undone while it's under lease. And with the miles I drive as much as I want and worry about being over when the end approaches...either keeping it or selling it privately keeps me away from dealing with the dealer about being over on the miles.
 

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Discussion Starter · #10 ·
<font face="Verdana, Arial" size="2">Originally posted by jpprelude:
Don't they normally rob you when you decide to purchase after the lease is up?

Anyone with any personal experience on this? I'm looking at getting my girl a V70 T5, and lease is WAY cheaper.

JP
</font>

The residual value is told to you up front, and as long as you have the option to buy your ok. This helps you keep the payments down now but the trade-off is they'll be higher later. Since my car is worth way more then I owe I'd be putting down a pretty good chunk of change on a lease. I'm going to be going into a new job soon that pays pretty good but I don't want to start getting in over my head with payments now when I'll be able to afford them much easier in three years. It's just a case of finanical planning for me.
 

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I've just seen too many people get screwed cause they can't drive their car for the last year cause they already have the allowed mileage on it.

I knew one guy who got stuck not driving his ford truck for a whole year cause it was already over the mileage and he couldn't find anyone to unload it on. And ford pickups go pretty quick with the hicks here in Nebraska.

Gabe

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97 Prelude
see it here:Hondaprelude.com
 

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You can also get an open-ended lease which gives you unlimited miles. The downside is that you assume the responsibility of the end-value of your car. Say your buy-out is $15,000 (I am just using figures for an example) and the market value for the car is $20,000. They pay you $5,000 at the end of the lease. Consequently, if your car is only worth $10,000, then you owe them $5,000 at the end of the lease, unless you buy it.

Hope I have made some sense.

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1999 Honda Prelude Base 5-Speed. Crystal Blue Metallic.

"Faster and faster until the thrill of speed overcomes the fear of death."
 

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Discussion Starter · #13 ·
<font face="Verdana, Arial" size="2">Originally posted by Gabe:
I've just seen too many people get screwed cause they can't drive their car for the last year cause they already have the allowed mileage on it.

I knew one guy who got stuck not driving his ford truck for a whole year cause it was already over the mileage and he couldn't find anyone to unload it on. And ford pickups go pretty quick with the hicks here in Nebraska.

Gabe

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Well with the downpayment I'd make in the worst case scenario I could off load it cheap and still be clear. Miles are one thing I'm not worried about at all, like I've said I've done this twice before and it's worked out fine once and I took a bath for $1500 another time. The $1500 loss was to get out of a 4 year lease after 2 so it was worth it to me. The way I take care of cars I'd highly doubt I couldn't off load a S2000 pretty quick.

BTW one of my friends was close to 10k over on a '99 Passat VR6. He bought the car at the end of the lease and then traded it in for a GS-R. He owed $13k on the buyout and it would've been close to $1k for the miles but the Acura dealer gave him $14k for the car. That's $2k the other way! You just have to do it smart and have the capital to float you while you make the deals.
 

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Just curious, you said the leasing offers lower payments, what kind of payments were they talking about if you leased an S2000?
 

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TPG- main diff. besides trunk and 2 seats, is RWD vs. FWD!!!!

While RWD is fun as hell, ( I used to drive a 240SX), it's a REAL Biatch in the winter. I dunno if where u live in NJ, but it can be a real PITA to commute w/RWD in the winter.
Maybe u should lease it and use the extra $$ to get a beater for the winter. Hope that helps!
 

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Discussion Starter · #17 ·
<font face="Verdana, Arial" size="2">Originally posted by gLudeous:
Just curious, you said the leasing offers lower payments, what kind of payments were they talking about if you leased an S2000? </font>
Well I owe about $11k on my Lude and can't see any reason why they won't give me $17k for the trade in. It'll be mint when I get it back and have the OEM kit..'99 SH w/34k on it. I had asked a few months ago when my lease was up and my saleswoman said her book showed it as being $18,6xx and she could get them to give me $19,000 for it because of the kit and the shape it was in. This was pre-header exhaust and she knew the fogs and TEIN's where coming out. On top of that I'd throw another $2k at it so I'd be putting down about $8k on a lease. Intrest rates are crazy low right now so I'm sure the payements would be much lower then my $403/month I'm paying now. For the same $8k down on a finance the payments where like $462 or something for 60 months and she said they'd be much lower then that. She was going to call me back on the lease because they have something weird going on with the S2000's at that dealer. They made some deal where they can get 4 or 5 more a year then they're supposed to be alloted but they can only lease them. So the owner actually goes out and buys S2000's from other dealers so they have ones to sell as well. I'm sure I'd hear by the days end.
 

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I think the relatively low insurance rating on the S2000 is subject to change pretty soon. Judging from what I've read on the S2000 forums, a lot of the insurance companies dont realize that it's a sports car!

In terms of advantages a Prelude has over an S2K,

1) easier to drive. RWD cars, are trickier to drive and the S2K's stiff suspension and super-quick steering make it very twitchy. If you're used to driving FWD all the time, it might take some time to adapt to RWD.

2) better in rain/snow. The S2K's S-02's are great in the dry, but owners have reported problems in slick conditions.

3) cheaper to maintain. They're both fairly reliable cars, but expect to replace the S-02's fairly regularly ($200 each)

4) less susceptible to vandalism/theft. People like the "S" badges and the antenna screws off (and fits on a Celica).

5) more interior space/trunkspace. You can't carry 4 race tires in an S2K! Maybe not an problem for you, but that's a big issue for me.

Other comments about the S2K:

-the steering is very numb. There's not much feedback through the wheel.
-a lot of the anti-S2K people complain about the lack of torque. Sure, it doesnt have anything down low (what do you expect from a 2.0L?), but it's decent in the midrange and when VTEC kicks in, you'd better make sure the wheels are pointed straight ahead!

Having said all that, I still think the S2K is an amazing car and I'd love to have one as a 2nd car. I just dont think it's feasible as a daily-driver. On the other hand, if they ever sold one in coupe form (not that cheesy add-on hardtop they have now), then I'd sell my soul to the devil and be the first in line to get one!
 

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If you can keep the miles within the limit, I would opt for a 15K yearly limit, and you don't plan on doing anything major to the car then its a good idea.

If you want to supercharge it or do a lot of mods then leasing is a bad idea. You would be better off owning it.

We leased our 00 Accord SE and currently drive almost exactly what the mileage limit is per month. We have the 15k limit. Since this is our family car leasing was a good idea and it will stay stock, leasing saved us quite a bit. We only put 1K down and our payment is $346 with the tax included. In 2 years we will trade this for a new car again, which is another plus, guaranteed residual value as long as you keep the mileage within limits and don't abuse the car.

You do need to remember that leasing is more expensive with insurance than buying. Did your insurance quote you the cost for a leased vehicle or a purchase? The limits run a bit higher on a lease vehicle, but normally not enough to offset the savings at all.

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Warren

93 Prelude VTEC N/A (lots of mods) [email protected]

00 Honda Accord SE (stock)


 
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