Tips on my 1st lease

Ask the Hackrs
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#1

I think I got a pretty good offer on a 2021 Honda Civic Sport (CVT), but would like some more validation.
36 Months, 10K/MPY, $245/m including tax, 0 down, 723 due at signing.
Residual: 14,998, Money Factor: 0.00079
Includes GAP and wear and tear coverage.
Offer Breakdown:
MSRP/Sales Price: 23,805
Wheel Locks: 74
Splash guards: 141
Cargo Tray: 124
Pinstripe: 60
Discount: 4302.59
Sales Price Sub-Total: 19,901.41
Tax: 48.96
Tag & Title: 416.50
Predelivery Service Charge: 799
Net Price: 21,760.87
Lease Wear & Tear: 900
Balance: 22,660.87

I also like the 2021 Mazda 3 Sedan Select 1SE.
It looks to be around the same price. Any insight between the two would be helpful.
I plan to test drive and purchase in the next few days.

Also, I was wondering what I could do in the event I don’t use up my miles or I’m not using the car much and want to break the lease within the next 3 years. Is this something to discuss with the dealer? Anything I should be on the lookout for when signing the lease?

Thank you!

#2

Is the Honda dealer trying to charge you extra for gap?

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#3

You sign the lease contract with the financial company, not with the dealer. The article below details options for exiting a lease early. HFS does not allow transfers.

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#4

No. He said gap is included in the payment.

#5

How much extra for the wear and tear?

Honda leases all include gap, but some dealers like to sell a second policy as a bs profit add on. Whenever I see it mentioned and you didn’t ask specifically about if it was included, I get nervous that they’re doing that. Wouldn’t be uncommon for them to say “we include gap and wear and tear at that payment” which really means “the payment could be lower, but we rolled in these add ons you didn’t say you wanted”.

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#6

Seems OK but nothing mind blowing. What is the % discount? Are there incentives? Need more details on the wear and tear. Most of the time for a lease it’s not worth it. Honda Financial does not offer a wear and tear product so it would be some third party company.

Honda dealers are notorious for dealer adds, accessories, etc. It’s very important to make sure that there’s nothing else included.

I believe the new Mazda3’s are not leasing well but you can research it.

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#7

He said GAP insurance is included in all their leases. I heard it was a good idea to include wear and tear, which was a 900 add on. I said I would go for it if he lower the payment to 245/m and included wear and tear, to which he agreed.
I included more details in the original post.
Thank you!

#8

It looks like they added on about 400 worth of random car features.
He said GAP insurance is included in all their leases. I heard it was a good idea to include wear and tear, which was a 900 add on. I said I would go for it if he lower the payment to 245/m and included wear and tear, to which he agreed.
I included more details in the original post.
Thank you!

#9

Is it a bad or good idea to rent out a leased car periodically (not going over miles) through a company like Turo?

#10

It is generally not allowed per your lease contract.

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#11

You don’t need this. Save yourself $900

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#12

But I doubt he’s getting an 18% discount with at least come of the crap.

@BSteve try to get rid of all the garbage accessories and wear and tear and let us know what they say. None of it is worth anything.

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#13

If I can, would you agree that is a good purchase?
He’s going to want a solid commitment to buy…

#14

It sounds to me like you have already made a commitment to buy.

You can certainly inquire about dropping the wear and tear, but generally saying “I’ll take it at this price”, them agreeing, and coming back and saying “just kidding, how about this price” is not a strong negotiation strategy.

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#15

Indeed. I didn’t know at the time the fees were bs and the wear and tear isn’t worth 900.
On a scale of 1 terrible and 10 fantastic, how good is this; as is and with the add ons/wear & tear taken out?

#16

Considering you’re paying $58/month plus tax plus rent charge on worthless dealer adds & fees that are straight profit, seems real good. Again I doubt you get an 18% discount on this car without all that BS. Make sure you knock over some cones and garbage cans to get your money’s worth of the wear and tear coverage.

I’m curious to see how the contract is written. Make sure that you don’t get surprised when it’s in front of you. Sounds like you have a relatively vague verbal commitment from a sales guy which is a recipe for disaster and “misunderstandings”.

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#17

Wear and tear is way too high. Google the price of the tires, if youre going to get it get if for the price of replacing the tires plus maybe $100 bucks.

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#18

I can’t tell if you’re being sarcastic…? So it’s a bad deal as is? Do you think I can do better? I should be able to remove the wear and tear package, since I requested it.
I will do my best to get rid of the other bs fees.
Thanks!