Rochester NY. 14445
2025 Honda passport EX-L
$1,000 down and $575 a month. No options other than trailer hitch.
How’d I do?
I edited out the extraneous boilerplate info from the posting template to make it easier for people to see your question.
There’s a lot of missing info, though, so you might want to make further edits to include necessary details.
Enjoy the car!
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How many months is the lease for? How many miles per year? What was the MSRP? What was the discount off MSRP you got? Were there any incentives or rebates you got? You need to add a lot more details for anyone to tell you whether it’s a good deal or not.
I’m sorry. I’m totally new to all this. I haven’t signed yet. She wouldn’t let me keep any paperwork. MSRP is $43,210. Residual is $27,580.84(63%). They gave us half loyalty even though we don’t qualify and brought MSRP down to $42,295. This is a 36 month 10K mile lease.
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They don’t do half loyalty. Don’t understand that one. Probably a small discount
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They are giving you a just over 2% discount, which ain’t great. Look in the marketplace on this site and see what brokers are able to get you.
Some vehicles are
A. Lease, finish the lease, throw the keys back and lease again.
B. Lease and then buy with cash or finance the buyout.
C. Pay cash or finance on day one.
A Honda Passport is a C vehicle.
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We plan to buy it out.
Is there a reason not to lease then buy? Why would you say it’s a C vehicle? Hopefully this comes across as a legit question and not a smart a** comment as it’s not meant that way.
I get that but can it be explained the reasoning behind it? Is it the residual or? 10000% new to leasing. Bought many vehicles but never lease.
In simple words doesn’t pay to lease due to high MF low RV and no lease incentives and the fact that Toyota and Honda keeps good resale value.
Use LH calculator to determine if this car is a good candidate to lease or finance.
2 Likes
So let’s do the math … soup to nuts of paying off the car and having no lien on it.
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Sum of all lease payments & DAS, PLUS the sum of all loan payments on the RV plus tax through a used car loan.
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Sum of loan payments financed on day one with a new car loan.
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Out of curiosity, are you set on this specific car, or are you flexible?
Others have addressed lease vs buy (your target vehicle is most likely a buy), but one of the best things I learned here is how to get outrageously good lease deals.
This isn’t possible with every car, but there are some amazing options if you’re flexible.
If you’re interested, browse Marketplace to see what’s out there.
We need a vehicle that can tow 3500lbs that’s similar in size. We still have our 2003 element and she is hoping its reliability with continue with the passport. Has to have a 2nd row bench if it’s 3rd row. We’ve been looking for weeks to find a vehicle she likes and the passport fits everything she wants and likes. Got rid of our explorer sport for one of these.
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A lot of assumption on my part but tried to run a calc for you. Looks like you stumbled on ~3% off
So, we listened to you guys, we pick up OUR 2025 passport trailsport tonight. We financed some of it but got 2600 off MSRP and the 30% off the trailer hitch and wiring. Went to 4 dealers and nobody would match it.
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How would one categorize a car they’re interested in leasing? Is it just simply based off brand (popularity/reliability), low-ish MF, and decent RV?
Do a “lease” vs “lease+buyout” vs “purchase/finance” comparison in terms of cost of ownership.
I believe (generalizing here):
- Most cars that are in category A are cars with strong lease incentives/discounts but bad resale values.
- Most cars in category B are cars with strong lease incentives and good reliability/resale value.
- Most cars in category C have limited lease incentives but have good reliability/resale value