MSRP: $40,655 (Edmunds invoice estimate $36,249) Selling Price: $36,389 (10% off, discount of $4,266) Monthly Payment: $447 (estimate $395 without tax + fees rolled in) Down Payment: (first+dmv) MSD: $0 - can’t in NY
Months: 39 Annual Mileage: 10,000 MF: 0.0019 (Trying to get it to 0.00159 which is what I found on edmunds as the MF) Residual: 63% [$25,578 given by dealer]
Region: NY Leasehackr Score: 8.3 Total Lease Cost: ~$16,725
Going to try other dealers. It’s close to 1% deal - 1.10% deal.
I’m going to keep researching and asking for better breakdown, since I couldn’t get a clear answer on what rebates/incentives are in this deal, nor are there any on Edmunds that I qualify for … going to assume its dealer-discount until proven otherwise. Will post what I find in here.
The APR on that ~10k lease amount is steep… at 4.56% (0.0019MF) even lowering to 3.82% (0.00159MF) is ~$20/month.
@28firefighter I’ll definitely look into credit union options, I know that dealer works with some CUs.
There is also the option of One-Pay on Honda - which should reduce the APR on the 10k lease amount (pre-pay to avoid interest). I don’t know what the MF would be for one-pay, does anyone know what to expect here?
After a bit of digging I found an example here on LH, the OP below -if I read correctly- had a ~74% MF reduction - which seems rather high.
one-pay does to MF for Honda (courtesy of some folks on Edmunds): (Starting MF) .00108 → .00028 (One-Pay MF)
Would that imply ~$100/mo reduction in this lease? (original MF 0.0019, new estimated MF 0.000475). Seems to good to be true, I may be doing something wrong here.
