First time poster / first time leasing here. I was given this offer today. I’m definitely not signing as I can see they gave me barely any discount off the selling price. But i’m just curious about how this looks for a starting point. What should I work on? I’m not sure why they offered 39 months vs 36 months? Any tips would greatly help.
DAS: 800 for first month payment and DMV
MSRP: 39,068
Selling: 38,073
39Month 10k Year
RV: 71%
Thank you.
I leased one about a month ago
MSRP was $37455, selling price was $32350. Paying $342 + tax with $915 due at sale for a 36/12.
That actually doesn’t look too bad. Looks like they capitalized $1,200 in drive-offs. Accounting for that, selling price looks to be $36,782. What a fantastic residual and reasonable MF from this credit union deal.
Agreed with @michael that it looks like a $2500 dealer discount for a selling price of $37682, not $38073.
At least out here in CA, I had several dealers willing to go $3500+ on the discount and finally got $5200 discount on mine, so there’s probably still room to go.
I think @tieroneleasing was offering something like 332 plus tax and fees on the Sport model, so this doesn’t look terribly out of line.
In MA I’m seeing on a passport sport
36/12
359/month
359 das
All fees and 6.25% tax included
Thanks for the insight. It was literally the first offer they made, I was really tired and didn’t feel like negotiating but on the way out I was told they can bring the selling price lower. Any idea why they offered 39 months VS 36 months? What are the cons of going 39 month vs 36?
They’re using a credit union, not Honda financial. So it’s probably more favorable under those terms to do 39 months
Buying a 12-month registration and only using 3 months of it. Depends where you live how big a penalty it is.
NY is 2 yrs at a time and allows transfer of plates from one lease to another (for like $115-$150) so it won’t be an issue
So according to edmunds.com the MF is .00215 and the RV is 67% for 36month/10k a year. Also apparently there is a $750 incentive. I cannot get these numbers to add up in the lease hakr calculator. The NYC tax rate is 8.875. What am I missing? Also I cant find the $750 incentive on Honda website to confront the dealer because they told me there is no incentive available.
Thanks in advance.
Autobytel is also not showing a $750 incentive. Edmunds may be mistaken.
Also, in the posted deal, the lease is being handled by teacher’s federal credit union, not honda financial services, so they’re showing a higher residual and lower MF than what Edmunds is showing.
Ah ok. Awesome thanks for the info.
This is essentially the deal. Drive offs are off by $100 and payment is off by $2
Awesome, I will try to shave more off the selling price to bring that monthly down. I will update you guys. Thanks again.
Strong residual from the credit union.
