MSRP 46.1k, sales price 42.2k. Additional 2k cap cost reduction by dealer (not sure what they did here but some Honda rebates to dealership. Contract says 7k cap cost reduction but they had me pay 5k with “us taking care of the other 2k”).
310 monthly with 5310 DAS (2k = taxes & fees in advance, 3k = cap cost reduciton, 310 = first month).
Original deal was 400/mo + 2200 DAS, but day of deal when running my credit they realized Honda won’t finance the lease unless I put more down (history <6 mo old, just moved to the US). Needed to get down to 400/mo as that amount my employer will reimburse, with minimal DAS as well.
Happy with my first ever lease!
Also love this truck to death already. I’ve never owned a truck (they aren’t a thing where I’m from) but I’ve rented F150’s, Taco, Galdiator, RAM 1500’s, and a Titan on various business trips. This is the best one out of all of those, especially since the full-sizes are too big for my wife.
That’s not true at all! You could roll everything into the monthly payments! That’s what I always do on a lease. All the experts say the worst thing you can do is put money down on a lease vehicle. Only first payment, and then 35 additional payments if it’s a 36 month lease. Honda doesn’t require a down payment on a lease
The reason the original deal I wanted was 400/month with a down payment was because of (dumb) rules My Employer has. This is essentially a company car for me, just handled purely by me and reimbursed monthly. My employer will reimburse me 400/mo, no more. In addition to this they will reimburse “reasonable” down payment. I tried to tell them it’s essentially the same to just put whatever they think the “reasonable down payment” is into the monthly, but because of how bureaucratic my employer is it was simpler to comply with their “400/mo” will and ask for reimbursement on down payment separately.
Of course I could have put these taxes and fees into the monthly and ended up with something like 450/mo 0 DAS, but employer did not allow this.
I had that 400/mo deal completely agreed to but Honda financial services denied to lease to me at all (=denied to lend me that amount of money) based on no credit history. Salesman called them and asked them if a higher down payment would change their mind and it did.
Either way, the money down is not my own (will be paid back to me by my employer), so I don’t mind. If I total it, my employer will be the one losing the down payment’s worth.
You missed the part where AHFC wouldn’t fund a deal with a lower DAS and higher payment due to the thinness of the credit file. They don’t offer $0 down to everyone, only credit permitting.
No, there’s no such universal consensus on this. It depends.
The only thing they say you can opt to do is pay the tax upfront! But never put any money down on a lease vehicle! I always lease, so I get tips from all the experts on here and YouTube.
Actually, it’s not! Most dealers are very deceitful in the way that they do these deals so it benefits them in the end. That’s why I always get a cash price first. Then I get a lease price with nothing out of pocket. Everything rolled in. Then I get a price as if I was going to put $500 down, $1000 down, and so on. The car industry was very messed up before Covid, and I think it’s three times as bad since! Most every expert I watch on, YouTube, agrees that you should never put any money down on the lease. The end monthly payment is never going to be the same if you and I walk into the dealership and put $5000 down on the same identical vehicle! That’s what’s so messed up about the auto industry. I’d love to go sometime and videotape two people trying to get the same deal on the same exact vehicle. Why do they get different prices? Nobody can answer me that question who sells cars. Because they know it’s a crazy F’d up industry.
Crazy that the average person can’t differentiate between being able to post opinionated videos on a public platform and actual expertise from a peer reviewed platform.
Also the average person has somehow completely swallowed the narrative that you shouldn’t think for yourself and only listen to “experts”. Often the difference between said “expert” and yourself is a few hours of google research…
