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

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)



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


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

cool! didn’t know that


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.


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:

I think you did great for the current market

Congrats! Enjoy the new ride


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!