(Local Deal in Denver, Colorado)
First time on here. I’m missing something that I’m doing in our calculations. We would like to get the leasehackr calculator score to reflect 20 years on this deal
Our local Honda dealership presented us with this offer to lease a 2021 AWD Honda Pilot Black Edition. I have attached their offer to this offer. I was trying to make this short, but important info needs to be shared in order to understand our fees.
This would be our first ever Honda lease. We have done several Toyota leases on the Highlander and had received positive equity when selling our old Highlander to local dealers. Our lease is up on our 2018 Toyota Highlander. They payoff is $29,900 and the market value at local dealerships is $31,700. We are not adding the $1,800 equity as a down payment. We are wondering if leasing this 2021 Honda Pilot is a smart move. We looked at leasing another Toyota Highlander Platinum AWD, but the payment is $100 higher than our previous Highlander Platinum AWD. The body style change and features are not much different that the 2018, so we are asking ourselves if it is worth paying $100 more to drive a similar vehicle this time around. Would you do it?
We live near this dealership, so shipping is not needed. Our registration and DMV fees are handled separately at our local government office. We pay these fees when we pick up our license plates.
Our dealer has a strange base payment with a range of $559-568 without tax added to it. It’s under the zero down column. This is confusing. I wonder if it’s for the finance department’s benefit to give them some leg to sell us products?
Our sales tax of 7.960%, which should be added to our base payment, is specific to our address in Colorado. We only want to put our first payment down at the time of signing. What else should we pay up front?
Should their mandatory $599 dealer handling fee and $595 acquisition fee be reflected in the cap cost? Or does this not make a difference in the calculations?
We also see an unpleasant fee of $888 for accessories in this quote. How can we get them to remove their unnecessary fees?
I have verified the local incentives, but we do not see the available $750 incentive from Honda. The residual and the MF match what’s in the Edmond’s forum.
Here’s what I have so far but I’m missing the mark some how in our Leasehackr calculator. We want to get the highest Leasehackr score possible, and hopefully it will reflect 20 years in the end ha ha.
MSRP is $51,435
Cap Cost shows $44,331
36 month lease @ 15k
Only 1st payment down.
7.960% tax rate to 80004.
We own a 2018 Toyota Highlander so qualify for the incentive. No trade in.
.00110 Money Factor
57% Residual for 15k miles
- $750 incentive
- $1000 conquest incentive
Please let us know what we’re doing wrong.
Here’s what I have so far in the calculations, but I’m missing the mark some how? What can we change?