Leased 2021 Honda Passport Ex-L FWD | $385.37 per month | 12k miles/yr with 0 Down

Signed Deals & Tips
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This forum has been such a wonderful place to learn all about leasing. Signed my first ever lease deal ever. Let me know how I did

So I was in market for a family SUV and was hoping to get something under $400 per month. Considering current market, all the dealers are jacking up the prices which was causing hard time getting good numbers on lease.

So I started searching for all the current available offers that retailers are providing. Found that Honda Passport was looking good to lease. Here is the offer that I took as starting point -

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Reached out to all 5 dealers nearby my place but everyone was asking for an additional $4k - $5k than its listed downpayment in this deal to start the lease.

After multiple research and broadening my search parameters to upto 2 hours drive. Found out there was a demo vehicle which is available at 2 hours drive and has 5600 miles on it and dealer is willing to work on lease numbers.

After all zillion hours of discussion, dealer agreed upon following numbers -

Demo 2021 Honda Passport EX-L FWD (never titled)

  • Miles - 5680
  • MSRP - $40,729(Base: $38,035 + Protection package: $695 + Market adjustment: $1,500 + Dealer Processing Charge: $499)
  • Selling Price - $33,825.95
  • Residual Value - $24,342.40
  • MF - around .0008
  • Taxes (VA) - $1,424.49
  • Title and Reg Fee - $94.75
  • Lease AF- $595
  • Admin Fees - $499

Monthly payment - $385.37 for 36 months and 12000 miles per year (0 down)

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Note that the msrp here is $38035. None of the other numbers here increase the msrp.

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Can you post the contract? something doesn’t seem right in your. Calculator

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cool! didn’t know that

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here you go - SIGNED! DEAL | LEASEHACKR

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Here’s your correct calculator! Your MSRP was off, as it included the addendums (protection and market adjustment). But I fixed everything and this should be roughly correct, give or take a few bucks.

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awesome… this really looks great.
since, this was my first time lease deal. How did I do? I know there is always some scope of learning for next time lease! :grinning:

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I think you did great for the current market

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Congrats! Enjoy the new ride

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Pretty damn good for this market. I just got quoted $615/mo for a Subaru Outback Wilderness w/ the same MSRP as your passport. So, yeah…

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This is solid, especially in this market.

Just note, you’ll be out of warranty the last 5,600 miles of the lease. Nothing to worry about tho on a Honda product

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Looks like a great deal! I was quoted $575 back in Feb 2020, but it was for an Elite though. Ended up buying a used one which thank god I did since I’ve been put 35k miles in 1.5 years.

Great job!