Hi there, I’m looking to lease my first car.
I went into Honda the other day, and they offered me a 36month/10k miles a year deal for $389/month with $2000 down.
I’m pretty new to this, so I’m not sure if I’m getting a good deal or not, which is why I’d like to get some help. Let me know how it looks, and if I should be taking this offer, heading somewhere else, or trying to negotiate it down.
Thanks!
There is no lease incentive plus if you decide to exit from the lease early then you would have to trade it at local honda dealer and they can give you really low offers.
It would be cheaper to finance at 4.90% for 60 months than lease it at 7.32% APR.
In that case if I still want to lease a vehicle, should I look at something else? Any suggestions on a vehicle at a comparable price? Not looking for anything fancy just something to get around in.
Honda/Kia/Toyota - None of these brands are having any lease incentive. In fact, it is alot cheaper to finance than lease for these brands.
Lexus: ES/NX do make sense to lease due to leasing incentives.
May I know why would you consider leasing over financing for Honda?
I primarily just enjoy upgrading things every few years. Leasing seemed like a good option to me. I might wait it out and see if anyone does better offers later this year, or consider financing something else.
I recommend looking at Nissan Rogue lease if you really need one. It used to have transmission problems but since its a lease you will be in warranty throughout. i saw one of the brokers post for 310/month+ tax
If you’re not yet familiar w/ the components of a lease deal, you might want to check out Leasing 101 (link above in the menu bar).
You can also look at Marketplace deals in your area to get a sense of what’s out there.
Spending $16K to lease a car w/ an MSRP of $26K does not seem like a good use of money, IMHO, regardless of whether this is a fair deal for an HR-V. If you finance, the monthly expense is higher, but you have an asset that you can sell (and Honda tend to retain their value pretty well).
Even if you finance the car, you can always upgrade to new one at any time. You can finance a car today, and upgrade to a new one every month if you prefer.
Is that the effective payment or is that after a big DAS?
As always check the Marketplace
If you haven’t missed the 9/30 deals maybe there are still some Hyundai Santa Fe PHEV deals.
The HRV (or almost any Honda) is a good car to purchase. Same for any of the popular Asian brands