That wasn’t the document I got that from. When all is said and done though, I see the point in just completely excluding the trade so I’ve done that and am now trying to evaluate the deal on its own without the trade.
The only thing more irrelevant than the LH score is the 1% rule. Do yourself a favor and just forget you’ve ever heard of either of these things. They’re not actually helpful. The LH score has very limited applicability in very specific corner cases.
Part of the issue right now seems to be that you’re trying to use the calculator to compute a more complex situation and trying to extract data out of it without quite having a solid grasp of its use.
If we back things way up, the deal in front of you right now looks to be at $35569 for a pre-incentive discount of 11%. Now, the trade complicates this a lot, as it’s hard to tell if the discount is actually what they’re showing or it it’s been manipulated by the trade equity. It’s very common for a dealer to show a high or low trade value and then adjust the sales price, depending on if they think they can get the sale from you by either showing a higher trade price than anyone else or a bigger discount. The only data point I know off hand for passports is the one I have in my driveway, but it’s a 2019. At the time, I was able to get 15% pre-incentive. That isn’t to say that is (or isn’t) a doable number currently.
If we take that all at face value, the monthly being off would suggest either there’s an incorrect usage of the calculator or the values you’ve been given aren’t correct.
If your calculator inputs are correct, your deal should look like this:
That leaves you off by about $1500 to make up the monthly delta. If the rv/mf/incentive information and such is correct, then I’d suspect there to either be a bunch of hidden dealer add ons (as is very typical of honda dealers) or they’re not actually giving you $4k for your trade.
Thank you for the thorough explanation and your patience. I will update later after I get back from dealer.
I really really really recommend not going to the dealer until you have a target deal sorted out and they’ve agreed to it. Nothing good comes from trying to sort these things out in a high pressure environment that they control.
1 Like
I did not see this before I went. I did not buy anything though and knew I wouldn’t. I found the extra $$$ that messed up the numbers: dealer “accessories” that they tacked on. I got them to remove most of them. Now I guess I just need to see which dealer is going to move their numbers a little more while also considering their stock, how they treated me, and any extras they might throw in. Thank you everyone for your time.
I’m at the 11% pre-incentive discount as you described and the $4k equity is a solid offer and better than my others who had a higher pre-incentive price. If I can get them to nix the final add-on that they’re holding on to ($595 I think) then I will likely bite on this one.
Do not use your $4k equity in the lease, take that out and stick it in the bank and use it to make payments. If you total your new car, you’re basically lighting that money on fire
2 Likes
The odds are overwhelming that you will not have a collision at all in the 2-3 years you lease a vehicle, and if you do, there’s a 95% chance that your 1-3 year old car will not be totaled.
Looks like rent charges on this deal are calculated based on ~2.19% APR. The best savings account I have is paying 0.6% right now.
You trusted hackrs make it difficult when you give me conflicting information 
I see both points. Maybe I’ll settle in the middle. My husband is buying a Bronco and we don’t see any special rates on that so far so it can just go to that as well once they actually get it built.
We don’t always agree on everything.
Personally, I think the bigger issue with putting a lot of money down is that it hides the actual cost, leading to poor decision making. That’s a far bigger risk for most people asking than the risk of totaling.
5 Likes
Bingo. Don’t let trade equity or any other mental gymnastics hide the actual cost
People have different risk tolerances.
This is a much bigger risk for most people:
I don’t have hundreds of thousands tied up in the market and drive a 7 series, i just try to maximize my cash flow and don’t dump tons of cash down on a lease to save $500 over a 3 year lease. I’m just a peon that drives a Bolt and 
for under $300/mo, so take my advice with a grain of salt.
1 Like
I leased the AWD Passport EX-L. I’m not even going to try the calculator anymore, but the MSRP was 39985 and the selling price was 35867. They also gave me about $1K more on my trade than I was getting elsewhere. I did not apply any of the trade equity to the lease and will be getting a check. They also didn’t have any dealer add-ons. I paid $0 out the door and my payment is $392 for 10k miles. I also will have $4k in my pocket, $1k of which I’m considering a “bonus” of sorts on the negotiated price so if I mentally apply that bonus to the payment, I’m at $364. Make sense? Or, if I subtract that extra $1k from the negotiated price, I’m at a 12.8% discount. I couldn’t find much at all to compare it to. I feel better than on my previous two leases so that at least makes me happy lol.
Honda’s advertised lease for same vehicle/terms is $309/mo + $3k down + tax title license reg
1 Like
Congrats! Always great to get that bonus equity… post the contract to a new topic under “Share a Deal”
1 Like
Did you go through HFS or another bank? I was getting all these CRAZY quotes on the EX-L through HFS - one even came in as crazy as $571 because it had a $3600 appearance package. Most dealers and lenders were in the mid 400 range. I ultimately got mine for $350 a month, true sign & drive with 15k miles a year.
Wow, now you just crushed my deal. That was HFS. I didn’t know you could lease through another bank. I’m not sure how the financing would’ve affected it much though as the mf was .00091. Mine didn’t have any additional packages or add-ons.
It was a pain in the ass finding a dealer that was willing to go through another lender because of the lower mf and higher rv from a non-captive lender. Apparently HFS does not allow lease transfers (some people say otherwise, but I’ve called 3 different times, spoke to 3 different people and they all said the same), so I had to make sure this time around I could find a lender that does allow transfers incase I get bored of it (which I will in probably less than 2 years).
Which lender did you use?
Honda does not allow lease transfers, although they do 3rd party buyouts without much hassle, other than having to pay the disposition fee.
Correct, I just sold my Accord 2.0T to ALGO before I got the Passport. It was leased through HFS, still had 18 months left on the lease. Extremely easy process with them.