2016 Honda Fit EX Deal

Ask the Hackrs
1

My GF is looking to lease a 2016 Honda Fit EX. I’ve been working some dealers down and I’ve come up with this deal:

MSRP: $19435
Sales Price: $17700
Acquisition Fee: $595 (rolled into cap cost)
Miles: 12K
Residual: 63%
Money Factor: .00095
Sales Tax: 8.5%
Down Payment: $0

This comes out to $214 a month after tax which has a LeaseHackr Score of 8.2 years.

I know that Honda Fit’s aren’t the best deals to lease because you can’t get much off the MSRP but she really has her heart set out on one. What do you guys think of this deal?

Thanks!

2

Discount looks solid. Honda doesn’t allow acquisition fee or MF mark-ups, so there’s not much for the dealer to fudge.

To some people, that monthly payment is high for a subcompact hatchback, but Hondas keep their value well, so you might have $1,000-$2,000 of equity at lease end.

3

Thanks @michael!

So basically it could be possible to sell it to CarMax and make some money before the lease is up? If the value is held up.

4

Yeah. There’s no guarantee, but if you keep the car in great shape, it’s possible there might be some equity at lease end. A colleague of mine had Beepi appraise his Odyssey lease and ended up with a check of nearly $3,000. Granted, he was well under the mileage allowance…