I’m thinking about signing a 24 month/10K miles per year/$0 down lease on a 24 Honda Prologue Touring AWD (Sonic Gray).
Initially, the sales person quoted me on a 36/10/$0 down lease at $361/month…including all taxes and fees. But I asked her to run the same on 24 months She came back at $348. The residual/money factor on the 36mth was 48.77%/0.00157. Don’t know what the residual/MF on the 24 is as she only wrote down the payment amount. I’ve listed all the specifics below.
Does $348/month, 0 down, 10k/year sound like a good deal? I got my butt handed too me on my last EV purchased so I won’t ever do a “purchase” on one again.
MSRP: $56,550
Sales Price: $51,000
Proc/Doc Fee: $260
Govt Fee $55
Acquisition Fee: $595
Fed Rebate: $7500
Cash Down: $9500 (dealer/manufacturer incentives)
Net Cap Cost: 36,210
Monthly payment $348.00
Term: 24 months
Mileage: 10,000 miles per year
There is no federal rebate on leases for the lessee.
You are probably getting $7500 in incentives and $2000 in dealer discount. But please double check the numbers. Not the $17k you have listed here.
I “misspoke” in my post. The dealer is offering me a $7500 rebate (not tax credit) but also offering me an additional $9500 in dealer incentives. On another social media forum, a recent buyer of Prologue elite received the same $7500 rebate plus an additional $12,500 in dealer incentives. His lease is 36 months,15k miles @ $294, with $3000 down at time of delivery. No state-based incentives or rebates were offered either. Strickly dealer discounts.
Are you talking about dealer discounts or incentives?
For Michigan, on a touring awd, there are currently $12k in incentives available between ev, dealer cash, and conquest/loyalty.
That would suggest your deal includes a $5k dealer discount, so you would need to compare that against other deals.
But then youre showing a $5k discount plus other incentives as part of a cash down, which is super unclear and doesnt say what is from you vs otherwise.
