Looking for input on the following offer from a local Honda dealer in MA.
MSRP: 27,345
Discount : 6.07%
Selling price: $25,686
Residual: $17,774 (65%)
MF: .00271
Term: 36 months
12k mi
$299 DAS (first months payment).
Rolling positive equity ($3250) into the deal. Currently over miles by 2,000. Not eligible for any incentives.
Many thanks
What’s the car and what are they offering?
So at best it is $3,549 das for 299/mo
Your equity is just another form of money
22’ Civic LX 32000 miles giving me $18,750 for it.
Is that a fair price for your car?
I would say yes
Asssuming the equity is fairly priced, you’re at ~$390 effective. Over two leases (72m) you’d spend $27,000+ on lease payments and end up with just a tiny fraction of the equity if you kept repeating these leases.
How do you benefit from this cycle here?
Why don’t you just use that $3250.00 as down payment and buy it
You are better off financing it for 60 months if you can handle the higher payments.
I agree, civic should be reliable.
So payoff/buyout was roughly $15,500?
I probably would have rather bought that out, rather than paying $10,764 to lease a similar model/trim (albeit with nicer wheels).
After sales tax only another $6k or so and you’d own the 2022.
I’m with this guy, buyout the civic and use it for a while. That car will most likely be a great car for many years
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