Looked at a 2026 Honda Passport RTL. Quoted :
Lease —$531 a month for 36/15k with $5300 down.
Buy —$716 for 72 month with the same $5300 down
MSRP 47,155
Adjusted price to 43,820
More meat on the bone to get a better lease?
The loan is quoted at 72 months 5.99%
If you’re going to pay $700-800 effective/month for a Passport either way, leasing is probably the wrong answer. The LH calculator has a lease vs. buy function. Check it out.
But I suspect that neither of the choices presented makes a ton of sense. You’ll get more nuanced advice if you provide a detailed breakdown.
For example, if the car has $3,500 in incentives you’d be paying over MSRP, but there’s no way to tell with the info provided. I would also assume (perhaps wrongly but this is a Honda dealer) that there is at least some worthless add-on garbage packed in somehow, somewhere.
Also when you looked at how 72-month new-vehicle loans are pricing at credit unions, what did you find?
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I appreciate it
5FNYF9H37TB055409
This is a Honda Dealer. The down payment ($5300) is coming from my trade in. The quoted apr is 5.99. Looks like the best 72 month rate I can find from a local bank would get me to 4.5%.
Did you shop around foe your trade?
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I have shopped it around. (Multiple dealers around 14,500) Highest offer came via carvana 16,600. This offer here would allow some tax savings but would come in at 15,500 for the actual trade
This is great information. I really appreciate it. Now I gotta try to figure out a way to get this information to equate to a deal!
Would you be able to do the same thing for this vin?
VIN:5FNYF9H33TB058808
Another local dealer just reached out and said with 5000 down they could lease this one for $500 a month
Thats not how you negotiate a good lease. Best would be to NOT act tomorrow and slow down. Review some deals in the signed section. Maybe read on how people have scored some great deals on here. Data on Honda Passport may be less but at least you will learn how it works. Just shopping multiple dealers to see who will give you a car for $500 for the least amount of DAS is not always the right thing.
I appreciate the input. I have been very careful and making sure I don’t negotiate with a monthly payment in mind. Ultimately, looking for the best deal. So few examples of passport leases on here
Which probably suggests that this isn’t a car that leases well, which is why
If there are any Honda dealers/brokers listed here for your general area, maybe reach out to them to see what they can do (even if they don’t have a deal posted).
Long story short look at similar cars that lease much better. 95% of the people here shop the deal and other 5% look for justification for their poor decisions and get angry when they get answers.
Honda ICEV leases haven’t made sense in a long time.
To improve the financing payment:
Make offers for 10% off pre-rebate.
What’s the rebate for and do you qualify for any more?
Use outside financing when it’s lower.
I wouldn’t give a second glance to dealer financing then, unless you get preapproved elsewhere and they beat the rate.
Before we get there, though, the dealer discount looks weak and that’s the other lever you can pull. The incentives are also weak.
There’s very limited data here on this model, which means that it’s either a poor lease value or no one’s discovered it yet, and it doesn’t look like the latter is true.
Even if you can saw another $2-3k off the selling price and finance it, how are you going to feel about having a four year old car and making payment that size?
If you aren’t open to models that offer better value, about the only things you can do are get a larger dealer discount, a better loan rate, and more for your trade. Generally you should be able to sell your current vehicle private party for more than trade value plus your sales tax rate.
We pulled the trigger and leased. Rtl 47,500 msrp adjusted sale price of 42,070
Please consider posting in the Signed Deal & Tips (w/ all of the needed details) so that there is a data point for other people who are considering this car.
