3rd party leasing

Hello hackers… need some advice.

I am looking into leasing a Honda Pilot 2017. Honda’s lease programs are awful. Few dealers that I communicated with are offering much better deals using 3rd party leasing companies. As per dealers they have been using 3rd party outside leasing companies for number of years, since programs are much better. Residuals are higher around 68% for Pilot’s as compare to 59% - 61% from Honda Finance for a 3 year 12k miles/year. MF is 0.00155 as compare to Honda’s 0.00155. So, monthly payment is almost $120 - $130 lower with 3rd party. I have always leased with Honda Finance… not so sure about 3rd party.

Any input or thoughts please… Thanks!

3rd party is just a catch-all term for dozens or hundreds of banks and credit unions.

So it’s important to note whether we are talking about Chase or US Bank or Ally or a particular CU.

They are using Affinity Credit Union.
https://www.affinityfcu.com/loans/auto-solutions/auto-leases.aspx

These leases are open ended lease or closed ended? At the end of lease if the residual is lower than market value who will take the losses?

Closed ended.
As per the dealers they are just like Honda Finance with same deposition $350 and Gap Insurance included.

Then AFAICT the only risk is end-of-lease wear/tear charges…any reviews online?

Just make sure you read the terms of the contract correctly.