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Honda Insight Lease Questions

kyfdxkyfdx Posts: 27,666
Ask your Insight lease questions here!

MODERATOR
Prices Paid, Lease Questions, SUVs

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Comments

  • Does anyone know what money factor they are offering? I know the Civics are at .00225, which roughly equates to 5.4% (x2400). I see as part of the lease offer they are 'assuming' that dealers will knock 10% off the MSRP. Interesting, since some of them might not for a little bit.

    ======Here is the initial offer====================

    2010 Insight Featured Standard Lease
    $229.00 per month for 36 months. $2,799.00 total due at signing.
    Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.
    [Show Details] Show Details
    Request a Quote
    FEATURED LEASE: Closed-end lease for 2010 Insight LX Continuously Variable Transmission (Model ZE2H5AEW) for $229.00 per month for 36 months with a $1,975.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,799.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee, capitalized cost reduction with no security deposit. Security deposit waived in featured lease example. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

    Subject to limited availability. 03/24/2009 through 04/01/2009, to approved lessees by American Honda Finance Corp. Closed end lease for 2010 Insight LX Continuously Variable Transmission vehicles (Model ZE2H5AEW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $20,470.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $18,435.99. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $8,244.00. Option to purchase at lease end $13,919.60. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details.
  • Got a lease quote this evening on an Insight LX (had 5-6 cars of different colors in stock)with no money down and $265.02 per month plus tax for 36 months and 15000 miles a year. Total due at delivery would be $502.78. I might do it, especially with rising gas prices. Is it a good deal?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi johngettler. Not surprisingly, Honda is not currently providing any lease support on the all-new Insight. Honda Finance's current buy rate lease money factor for a 36 month lease of a 2010 Insight is .00310 for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dodgeman07dodgeman07 Posts: 573
    Sounds like a fair deal to me. How much tax do you pay on top of the $265.02?

    Also confirm the "buy" price at the end of the lease.

    Good Luck!
  • I will pay 6.1% tax on top of the payment for a total of $ 281.18.

    Confirmation of the "buy" price is $9856.00 at the end of the lease. I'm going to see if I can get a better price.

    Need to take the car for a Real-World test drive first.
  • Car_man,

    Could you post the 24 month and 36 month MFs and Residuals for a 2010 Honda Insight LX?

    10,000 miles

    Are there any specials on nonstandard durations, like 30 months, etc.?

    Thanks!
  • I certainly can, r56mellowyell. Here you go. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2010 Insight LX with 12,000 miles per year are .00183 and 70%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    The numbers for an otherwise identical 36 month lease are .00183 and 65%.

    You can vehicles through Honda Finance for just about any term that you like 27 months, 30 months, 33 months, 39 months. The money factors for all of these terms are exactly the same as what I mentioned above.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I am just checking that this is a reasonable deal prior to signing this weekend. $280 a month with $280 at signing and 35 payments of $280. No down payment. 12k / year. Includes 6% tax and all fees rolled in. Dealer is telling me that Honda has killer residuals (64%) and money factors (.00122) available right now but I haven't seen them elsewhere in print yet.
  • That doesn't look too bad at all. The best offer I have so far is $293 per month. That's with zero down ($619 to title and first) payment, $22010 selling price, 36 months, 12,000 miles per year. No tax here in Oregon.

    With the residual and MF you're quoting and assuming full MSRP ($22010), the monthly cost shoulds be around $264 per month before tax with zero down. Depending on how much tax is where you live, it looks like you're pretty close.
  • Tax is 6%. Too late now... I picked it up this morning!
  • Car man,

    Any chance you can share residual and lease factor for an Insight EX, 24 mo, 12K miles/yr and 36 mo, 12k mi/yr?

    Very much appreciate all your info. Thanks.
  • I'd be happy to help you out, jfershee. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2010 Insight EX without navigation with 12,000 miles per year are .00069 and 68%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36 month lease are .00069 and 63%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Could *someone* (carman) supply me with the current Honda finance deals for 10,000 and 12,000 mile 36 month leases on the Insight EX and the Civic EX-L. Also, do both of these have $750 dealer cash right now on the lease and where can I find the invoices prices for these?
  • There wasn't any mention of a 750 dealer cash and I was told there is no 10,000 lease. The deals are on their website.
  • You can get invoice prices from the Edmunds website under the "New Cars" section. The Insight EX pricing is available here;
    http://www.edmunds.com/new/2010/honda/insight/101153447/prices.html

    The $750 dealer cash is available on all Insight models;
    http://www.edmunds.com/new/2010/honda/insight/101153447/incentives.html?vdp=off&- setzip=97702&state=OR
  • So here is the current offer I was given from a dealer.... sound good or can I get a better deal?

    2010 Insight EX, 36 month, 12k miles (top tier credit)
    $250 per month (total including taxes)
    First month plus 300$ up front (total out the door of $550)
    no charge for mud flaps if they are already on the car, tank of gas, floor mats no charge.
  • countyslavecountyslave Posts: 5
    edited February 2010
    turning in a leased 97 civic EX with over miles (9000 miles)and still owing 3 payments for EX Insight with mudguards wheel locks, ($22010) dealer said 357 month includes tax etc on 36 month 15K miles year, with 5 year 60K mile warrenty NO deductable, Nothing else up front just pay the over milage (9K X $0.15) and pay off lease (3 mo at 272 month) total of $2166 out the door. hit up 2 other dealers and they could not match it. But reading all above is this really good? Think money factor was .00069 but could have been the .0141 didnt look that close as new at this. Credit is top tier. Picking up car today at Serramonte Honda here in Colma.
  • azza1azza1 Posts: 5
    edited February 2010
    Greetings,

    I live in NY and I am looking to lease a new EX Honda Insight for 36 months.
    Using all the (wonderfully exhaustive) information I found on this site, I have come up with following calculation

    MSRP: 21300
    INVOICE: 20,098 - 750 (dealer rebate) = 19,348
    RESIDUAL: 0.63 (63%)
    MF: 0.00069

    21,300 x 0.63 = 13,419
    19,348 - 13,419 = 5,929 (cost of leasing before taxes and interest)
    5,929 % 36 = 165
    (21,300 + 19,348) x 0.00069 = 29 (interest per month)
    165 + 29 = 194 (monthly payment before tax)
    194 x 0.08875 = 18 (monthly tax)

    600 (aquisition fee) % 36 = 16.21 + 1.50 (tax) = 18

    165 + 29 + 18 = 230

    I take this to be the monthly payment with EVERYTHING included, including aquisition fee.

    Since I rounded everything up, I figure if I allow added $10 a month ($240), the dealer can made a $360 profit. That should be sufficient

    Have I calculate everything correctly? Please let me know if I made any mistakes and if this is reasonable

    Thank you!!

    PS: I am going to be handing back my 2007 Acura which was for 10k/per year. There is only 23k on it now.
    Can it be an added negotiation boon for me that I am handing back this car to the dealership that leases me the new Honda?
  • kyfdxkyfdx Posts: 27,666
    edited February 2010
    If it helps.... the advertisement in my paper today (which looks to be the national ad) had the Insight LX CVT model with MSRP of $20,510, for $219/mo., with ZERO due at signing.. This is for 36 mo., 12K/yr..

    Don't know about you, but I'd be happy with that.. You seem to have the numbers down pretty well.. If you need 15K/yr, add about $12/mo.. To adjust for the extra $800 in MSRP, add another $9/mo..

    Looks like $240/mo. + tax, with zero due at signing, for 36mo/45K lease!

    The Insight leases better than just about any other vehicle, right now.

    (caveat... the EX may have a different lease program)

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • azza1azza1 Posts: 5
    kyfdx,

    Thank you for commenting so quickly. I have not seen anything close to the advertised deal you are mentioning! Now that I look closer at the difference between EX and LX, it's not so much, unless I go for the Navi (which would get me a bluetooth, which I've found to be very, very convenient). Would you or anyone else by any chance have the money factor and residuals for EX with navi and an LX for 12/k? The numbers I calculated use Carman's info for 12k EX (it wasn't even 15k, but I don't need that much).

    Thank you!
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