2018 Honda Plug-in Clarity Touring. This is the best I can do with limited dealer because of “Replace Your Ride” program. Leasehackr Calc
MSRP: $37490
Selling Price: $29497.25
Monthly Payment: $200
Down Payment: $9500 from Replace Your Ride.
Cap Reduction: $8006.99 which is from down payment $9500 - ($760.66 tax) - ($200 1st month) - ($532.35 doc & license fee)
Incentives: I’m guessing $7000 from Honda
What a great deal, the Replace your Ride program in Southern California is a huge score.
Looks like you have $8K off the MSRP, which is $7K tax credit for Honda + $1K negotiated off. I think the better Clarity Touring deals would have $10K off the MSRP, which is $7K tax credit and $3K negotiated off.
My advice is:
Try a few dealers to see if you can get to $10K off MSRP.
Negotiate for 15K miles per year instead of 12K miles, it might be worth the extra cost because the car is so awesome and you’ll want to drive it a lot.
Drive it in Sport Mode all the time. Much more fun and electric range is still great. We’ve had ours for 3 weeks.
240V Level2 charger in your garage helps a lot for doing various trips on weekend drives. We can charge the whole battery in 3 hours instead of 12 hours.
With this program there’s only 3 dealer to work with. 2 of them not willing to negotiate at all and selling at msrp or maybe more. I believe 10K off the MSRP is about right, thanks for checking.
Good to hear you liked the car, I know there’s quite few mode to choose and play around while driving. I think it’ll take some time to figure it out. I have an MB EV, so I’m use to driving full electric.
I just finished my replace your ride and man I hated the whole process. The dealers treat like the $9500 isn’t cash… They kept trying to negotiate saying “Doesn’t count since the government is paying for it.” And kept raising the price and since there are only a limited dealership there was really no buying power. In the end I still got a cheap volt, but the attitude of the salespeople and how they treat the program is horrendous. The only pleasant dealers were Toyota since there is like 5-6 dealers on the list, but don’t really like how the prius looks
So here is one analysis of leasing an EV with Replace your Ride program with a car worth $2K trade in, tell me if you agree:
WITHOUT Replace Your Ride Program:
Dealer gives $2K trade-in credit for the car you provide.
Dealer discounts the car $7K for federal tax credit plus another $3K from negotiation (example for Honda Clarity)
WITH Replace Your Ride Program:
Replace Your Ride program takes the trade-in car and gives you $9500 coupon.
Dealer gives $9500 credit from Replace Your Ride coupon.
Dealer discounts the car $7K for federal tax credit plus $0K additional negotiation.
Buyer gets a federal1099 form from Replace Your Ride for the $9500, might owe $2K extra in taxes at end of year due to that 1099.
Total difference:
$2K + $3K = $5K of credit for NOT using Replace You Ride.
$9.5K - $2K = $7.5K of credit with Replace Your Ride.
Why is the dealer not discounting the car if you use the Replace your ride coupon. Just negotiate the best selling price first and then mention the coupon at the end. Don’t run to the dealership waving your coupon.
You can get the best deal by email or phone by not stating where the down payment comes from but unfortunately once you go and mention you are part of the replace your ride program, they won’t honor it. This was my experience at woodland hills Honda. This program is such a scam and I have 3 more weeks to decide. I want a clarity as it has the space we need but all the dealers are charging at least the rebate amount if not more so essentially you end up losing money. I hope those that are applying will take this into consideration especially since every single person has been saying the same thing. Don’t get f’ed like I did.
I wouldn’t be surprised if the people heading this program are aware. In fact, I’m sure they tell the dealerships that to offset the fact that they have to hold the sold car for at least a month and unfortunately many of the people in this program don’t have the privilege to post this to others.
I spoke with the supervisor and I am waiting for a phone call from the director. I’ve mentioned how numerous people on this website and others got ripped off and ended up buying a car they didn’t actually want but had no choice. I mean common sense would tell you, if they have to have the car sit there for a month or 2, that takes space and space costs money especially with plug in and electric vehicals that sell out quickly. This was never mentioned until after I received my approval with the next steps. If the website stated hey whatever rebate you receive from us, expect the dealership to charge you for that, then I would never have done the damn program and wasted months uploading dozens of documents and driving an hour to get some tests done for the vehicle. They can add a little example, if the MSRP is 30k and you get 5k from us, expect the dealer to charge you 35k if not more lol.
Hi, first time posting here. I have submitted application for this program as well.
When you lease a plug-in hybrid, what does dealership do with federal tax credit? Do they roll the federal tax credit over to you so it will lower the monthly payment? Or they are like, screw you cause you are using the replace my ride program?
I thought OP’s monthly payment should be even lower if they roll over the federal tax credit? or I am missing something?
