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 -
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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