36/10k 2021 Honda Passport EX-L FWD - white
I asked Edmunds forum and got:
RV - 65%
MF - 0.00091
$500 dealer cash
I’m working with a broker and he gave me:
$1150 minimum driveoffs - first month + fees
monthly payment - $333 tax included
MF - 0.0007, RV - 69%
MSRP - $38380
Pre-incentive discount price: $36356 not including the rebate (what rebate? edmunds didn’t mention a rebate)
zero downpayment
I read somewhere not to trust the MF and RV that doesn’t come from Edmunds for my zipcode.
Here’s my calculator (i used the RV and MF from edmunds)
When trying to figure out the goverment fees, the california fee calculator for a new vehicle says my total registration fees are $518.
when i went to the california state registration fee calculator I got $518. i’m not sure where to get the DMV but i assume it’s the difference.
what I’m a little concerned about is the word ‘minimum’. when I go to pick it up, I’m probably too inexperienced to tell the difference between required and optional addons.
There’s nothing inherently wrong with using a third party bank, other than some are harder to get out of a lease than others and you can’t rely on edmunds from rv/mf/incentives. I’d definitely ask which bank it is.
so far i see strong opinions on how hard it is to get out of a lease and how hard it is for return the car at end of lease. the latter doesn’t seem so prevalent lately though. i think if i understand correctly i can repair dings and scratches myself before returning too.
the only reason i would want to end a lease early is if i could make money or if i hated this passport.
even in the case of making money… i probably won’t end early…
so putting aside US bank issue, would you agree this is a pretty solid deal?
I haven’t been following pre-incentive discount targets on passports lately, so it’s hard to say. I know I got substantially more than 6% off on my passport, but that was in 19. With the factories shut down for these temporarily, supply is definitely low, taking discounts with them. The monthly looks great (largely due to the really high RV) though.
Maybe now US Bank is not charging people currently for headlight stone chips and swirl marks, but there was a long period of time where this was fairly common to the point where several dealers have told me they stopped doing US Bank leases due to negative customer experiences. So that kind of shades my opinion. What would the payment be on the same selling price discount using Honda Financial, who traditionally are extremely lenient on turn-in? Then you decide yourself is the reduced price is worth the benefit. The dealer doesn’t care what bank they use. @RVguy may be able to recommend other regional dealers who use his credit union network.
Personally I would want to do a lot better than a 5.2% discount, but that’s just me. You can do our own research and establish your own target. I don’t know how in demand a Passport EX-L FWD is in your area or what the supply looks like these days.
Or just go with the broker deal, because I don’t really understand the purpose of asking for feedback on a broker deal. If we say that it’s mediocre, are you going to put the time and effort into getting a better deal? In this case, why did you get this far with a broker or use one to begin with? The majority of broker deals are meh to most of us, but we have higher standards and put a hell of a lot more time/effort in than the general population.
yes, I’m definitely in the group labeled general population, and yes if the deal is mediocre, I would try harder.
I don’t really understand the purpose of asking for feedback on a broker deal
why is asking for feedback on a broker deal bad? are broker deals usually not negotiatable?
why did you get this far with a broker or use one to begin with?
i found this broker on leasehackr forum, and if asking for numbers and a breakdown of the DAS is “far”, then TIL. maybe I misused the “deal check” label for this topic that gives the impression that I’m in the final stages of making a decision. Compared to what the dealerships are sending me b/c I signed myself up for spam from truecar, this broker deal is way cheaper, but I don’t have the sense of more seasoned hackers.
What would the payment be on the same selling price discount using Honda Financial, who traditionally are extremely lenient on turn-in?
Correct. The posted deals are generally the deal that’s available and are not negotiable. The whole purpose of the broker deal is to make the process quick, simple, and easy.
I’ve had deals where brokers did way better than I could, so I used their services. I’ve had deals where they couldn’t get anywhere near what I could, so I didn’t. Personally, I prefer to baseline the deal I think I can achieve and then compare to what’s available from brokers.
That is the entire point of using @brokers and paying for their services - to get a deal better than you would have gotten yourself with minimal to no effort. If you were willing to put the time, effort and work into getting the best deal possible to begin with then there’s no reason to use a broker at all, except to look at their pricing as one benchmark/point of reference in creating your own target deal.
Broker deals are “what you see is what you get” and they are not negotiable. To waste a broker’s time to give you all of this detailed info, then use it to shop around for your own better deal, is kind of a dick move IMO. No offense.
