Is the Passport residual value misleading? With the money factor so high at .0024 it offsets great 65% RV. Or maybe I’m misunderstanding. Zip code 28716 is frustrating.
Honda Passport RV
I leased an ex-l last month. RV on a 36/12 was 67%. MF is high and there aren’t huge incentives available, but I was able to get a pretty significant dealer discount. About $340 a month, pre tax. $900 das
The RV and rates are completely disconnected. Honda only subvenes the rates once the product has aged a year or two or if the lease pen/sales volume falls well short of their internal monthly targets. The current gen Pilot had the standard rate for 2 whole years. The current gen CR-V is on its 3rd model year and the factory rate support just started a few months ago.
Honda sets their RVs to try and be relatively close to actual wholesale prices when the vehicles come off lease. Other OEMs will enhance the RVs and/or subvene the rates and/or sprinkle in various lease cash amounts to throttle the lease volume and lease penetration to close in on their targets. And most of the times it is just a reaction to the last month (or last quarter) performance.
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The high MF adds back to the payment what a great RV had took away. Loved the vehicle. Would be a no brained with a better MF. Thanks everyone.
Do you mind me asking where you got that deal? Or what you got the cap cost to?
Here’s all the numbers:
Got the car from Lancaster Honda
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