Hello,
I’m in CA trying to lease a 2024 Honda Prologue Touring 2WD. The terms are 36/10k, $0 down, $2,600 DAS, Rolling in $2,709 negative equity, $369.24/month.
Ideally I’d like to do $2k DAS and for the payment to be $350. Is that asking too much?
Good Deal or should I keep looking?
You’re at 37.9% off including discounts and rebates… asking for another $1300 like a true hacker.
Marketplace deal by comparison:
TOURING 2WD
Drive Off: $2,599 (including broker fee)
Monthly w/ Loyalty/Conquest: $289+ tax
So if you factor in the $2,600 negative equity you’re basically within a few bucks of this deal.
Not bad, but always worth trying to haggle a bit more.
What is your negative equity car? Have you shopped for other buyout options?
Need all the details on what this is.
My trade is a 2016 Honda Civic Sedan Touring with $80k miles. $14k has been the basic offer i’ve received from Carmax and a different Honda dealer here in the area.
Tell them another $1500 will close it for you, and be true to your word. Whether they overpay your trade by $1500 or further discount the vehicle is at their discretion. If they do that, you better send a deposit and credit app right away. If they tell you no, then you just have to decide if its good enough as it is. Fwiw, I think it is
You could give Give Me the Vin a try. They were 36k for my odyssey when local dealers, Carmax, etc were in the 31-33k range. Worth a shot.
Thanks so much for this. I’ll see if they can throw some money at the negative equity and report back. I appreciate your advice.
Click on Marketplace and make sure you’re getting a great deal on the new car, before any negative equity.
Separately make sure you’re maximizing the value of your trade.
And don’t have the torque of an EV going through the front wheels. Get a Touring AWD or EX AWD depending on budget.
For reference, I just signed a 36/12 Touring AWD sign-and-drive, and they made my first payment (35 payments left). They also bought me out of my Cadillac XT4 which was about $3k in negative equity. My payment is $462/mo. I wasn’t thrilled about rolling over negative equity into a lease, but I was only at 10k/yr mileage on the Cadillac with 2 years left on the lease and already slightly over my mileage. The new lease is also $80 less a month than my Cadillac. Factor in $20 less a month on my insurance premium, and what I estimate to be $50/mo (conservatively) in fuel savings going full electric. So I figured I was already coming out ahead in 24 months, even with the negative equity.
Bottom line, and getting back to my initial point, your deal sounds good, but there is still some room to negotiate. If it isn’t from that dealer, then find one that will.
