Deal Check: 2025 Honda CRV Hybrid-CT-Down Payment?

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1

Looking at a 36mo/30miles lease '25 Honda CRV Hybrid.
MSRP $40,200, $500 discount, out the door $39,700
Money factor .00235
Due to buying out my last lease, I have a trade with equity of $12,000
Planning to take $5000 in Cash, putting $7000 down on vehicle
Lease Payment= $358
End of lease buyout= $26,934

Let me know what you think.
What is your opinion of putting $7000 down, should I consider taking more cash and dealing with a larger monthly paymnet, or putting the entire $12000 equity into the vehicle and lowering the monthly payment
Any thoughts greatly appreciated

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2

What’s your reasoning for wanting to do so?

At .00235, you’re not really looking at saving any money by doing so compared to other investments.

The only thing putting that much down is really doing here is obfuscating that you’re talking about $550/mo for a CRV. At that price, you should definitely be running the numbers on purchasing this instead of leasing it.

3

Thanks for your response. My reason for money down is to reduce monthly payment

I have looked at a purchase, at 3 year term, using $12k down, monthly payment of $882 (2.9% rate)
For 60 months loan, monthly payment of $572 (4.9% rate)

4

Are you interested in only lowering monthly cash flow or do you want to minimize total cost?

What would the expected 3 year cost of ownership be here if you purchased for 60 months and then sold after 3 years?

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5

Doesn’t look like a good deal. Is keeping your current car for another 2 years an option?

6

There are some cars you buy/finance, and there are some cars you lease.

CRV is the former.

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