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Honda Insight Lease Questions

13

Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Yes sir man. Honda is running a fairly attractive lease special on the 2010 Insight in July.

    To give you an idea of what its current program is like, Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Insight EX with 15,000 miles per year are .00104 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    In addition to this special lease program, Honda is providing $750 dealer cash on this car. These two programs are compatible.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi again Yes Sir Man :). Please see my previous post to get an idea of what this car's current lease program is like.

    As far as the advertised payment that you saw goes, manufacturers usually include some sort of down payment in their advertised leases. They do so to make the monthly payment, the number that most consumers focus on first, look more attractive. Consumers like yourself can and should lease any vehicle that they want without making any sort of capitalized cost reduction. It is in your best interest to pay as little money at signing as possible on your lease.

    Honda Finance requires lessees to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment (when it's not waived), and a $595 acquisition fee at signing. The acquisition fee can even be added to your vehicle's capitalized cost to make it part of your car's monthly payment if you want.

    Car_man
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  • yessirmanyessirman Posts: 4
    Car Man, Just a thank you for your info so far.. I have been buying/leasing car since 1964 and this (You) has been the most valuable tool so far.

    Thanks again Yes sir man
  • wombat94wombat94 Posts: 5
    Car_man,

    Thanks for the information on current lease programs.

    Does Honda offer 48 month leases at 12K and 15K per year?

    If so could you provide the money factor and residual % for each option on a 48 month loan?

    I am getting some very good pricing on Insights considering the $750 dealer cash and I am considering a lease - I'd like to have as much information as possible before I go to a dealer in person.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, yessirman. Thank you for the kind words.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem wombat94. Theoretically you could lease a Honda for 48 months, but you really shouldn't. Honda's special lease money factors are only available for up to 36 months. If you lease for 48 months, the 2010 Insight's money factor jumps from .00104 to .00200 (for Super Preferred tier customers).

    If I recall correctly, you were considering getting an Insight EX. Just a heads up, Honda just introduced new bonus cash, something like $750, on the Insight LX. That cash might convince you to switch trim levels.

    Car_man
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  • Thanks Car_man...

    I found out that the subsidized leases were only on the 36 month term (makes sense from Honda's point of view - they want to get you back in in 3 years for another new car, not 4).

    I found the same info as you posted from two different dealers.

    I did go with an Insight EX - picked it up on Saturday. Already have about 600 miles on it (busy week). I got 42.2 MPG calculated on the first fill up after driving around all weekend to the mountains and into Philadelphia.

    So far on my somewhat congested suburban commute (23 miles each way with about 17 of that on highways that tend to get slow/stop periodically at rush hour) I'm getting just about 50MPG each day round trip. I'm looking forward to seeing what the calculated first tank of strictly commuting MPG is.

    I ended up with the 36 month lease on the Insight EX. I'm very happy so far.

    Thanks again for your help.

    Ted
  • I am looking to lease a 2010 Honda Insight. I just saw Honda's advertised $169 / $1699 down ad. I am looking at both the LX and EX. I need to get the money factors for 36 months and the residuals. I need both 12k and 10k if available. I also need to see about any lease money(rebates/dealer cash) available.
  • Ted,

    Can you share the details of your lease (eg. how much down and monthly pmt)?

    Thanks!

    Xavier
  • congratulations on getting your new Insight, Ted. Thanks for taking the time to stop back and let us all know how everything turned out. You certainly didn't waste any time putting the miles on your new ride :).

    Car_man
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  • Here is the information that you're looking for, jerrymis.

    Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Insight LX with 12,000 miles per year are .00085 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a '10 Insight EX are .00085 and 61%.

    I'm not sure if Honda Finance offers 10,000 mile per year leases on Honda division vehicles, but if it does its residuals for that mileage allowance would likely be 1% higher.

    When negotiating your lease on these cars, make sure to take advantage of the $1,500 in cash incentives that is currently available on the LX and $750 on the EX.

    Car_man
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  • I'm quite clueless concerning everything that goes into leasing. But I've been doing a tiny bit of research, and I e-mailed a dealer near me to get some info. He wrote me back the following info on a Honda Insight EX with VSA (ESC):

    MSRP 22010
    Transaction cost- 20010
    Money Factor- .00038
    Residual- Both 59%
    Pre Tax- 208.30

    I'm guessing he meant sell price where he put transaction cost, no?

    Is this a decent lease offer? Any help would be greatly appreciated.
  • hi--
    first of all, THANK YOU car-man for this awesome forum that's just a wealth of informaton.

    i'm looking to lease an Insight LX. 15k/yr, 36-mo. Does anyone have info on lease specials for November on the EX or LX for Southern Cal?

    thanks!
  • You're very welcome, nomorejeeps. For some reason I find your username very funny...perhaps it's because I know someone who just got rid of a problematic Grand Cherokee.

    Honda Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2010 Insight LX with 15,000 miles per year are .00048 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers are the same for the EX.

    Honda is currently providing $1,500 dealer cash on this car that is compatible with this lease program.

    Car_man
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  • cooljcoolj Posts: 15
    I am offered a 2010 Honda Insight EX lease - $214/month for 36 months, 12k miles a year, $0 down, only first payment due up front. - from Chicagoland area. I do not have the money factor or residual values yet. I was trying to see if this may be the best deal out there? Any responses would be appreciated.
  • Hello, I was just wondering if it's possible to get the rates for 2011 Honda insight EX and LX. I've gotten quotes from a lot of dealers, but the mf seems so off, especially someone with top tier credit. Thank you in advance.

    3year.. 12k/year.
  • Greetings mlee27. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Insight EX with 12,000 miles per year are .00200 and 66%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of an '11 Insight LX are exactly the same.

    Car_man
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  • Recently leased 2010 Insight EX 3 yr/36k in NJ. Top Tier financing (.00001) :)

    $225/mo. $132 due at signing.

    Price included 7% NJ tax, $595 acquisition, $295 Motor Vehicle, $199 doc fee, $30 Tire tax.
  • kyfdxkyfdx Posts: 28,014
    Cheap transportation..... good job!

    MODERATOR
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  • How on earth do you get a deal like this? I can't seem to get below $230/month for 36 months + Virginia taxes/fees (down) + $495 processing fee (down). Using their residual value and the MSRP and negotiated price, I think the money factor ends up being 0.00023 and the residual I think is about $12500, according to the special offer. The negotiated price is $18074.17 and the MSRP is $18950.00

    And this is for a 2011 BASE model!

    This is my first potential lease, and I am totally clueless on how to negotiate it. It seems like if I start haggling one part of the lease, they will just adjust another part of it to get their way! I have one dealership willing to sell me a 2011 Insight Base for $17,312 but I have no idea where to go from there with the negotiations. I asked him what the money factor and residual value would be on a 36 month lease (via email) if I decided to take that route.

    Somebody please help!
  • spohiospohio Posts: 13
    Car_Man,
    could you tell me what kind of numbers to expect for leasing a 2010 insight? MF, residuals, 15k
  • spohiospohio Posts: 13
    still looking for lease info on 2010 Insights. I see a few leftovers at local dealers and I am wondering what kind of money factor and residual i should expect.
  • spohiospohio Posts: 13
    gottainsight,
    do you know what percentage they used for a residual value on the lease?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi spohio. Honda isn't providing lease support on the 2010 Insight any longer. As a result, if you were to lease one through Honda Finance, you would have to use its standard lease program. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Insight LX with 15,000 miles per year are .00200 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your lease on this car, make sure to take advantage of the $1,500 dealer cash that is currently available on it.

    Car_man
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  • zoranzoran Posts: 68
    Hi Car_MAN when will car be out? any expected changes significant? or plug in hybrid?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zoran. I believe that the 2012 Insight is supposed to be very similar to the 2011 version. It will not be a plug-in model. I don't know exactly when it is scheduled to arrive at dealers.

    Car_man
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  • zoranzoran Posts: 68
    Thanks a lot. 2012 models are expected this spring so hopefully soon! Insight , civic hcfa, new civic hybrid, will wait along with Prius plug in, and little Xd based model:)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome zoran. Just in case you're interested, given the shortage of parts from Japan and the high gasoline prices right now Honda recently decided to pull the plug on its support for Hybrid models.

    Car_man
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  • zoranzoran Posts: 68
    :(, what does that mean? if any thing goes wrong, then they cant fix it? and wont bring out 2012 models?
  • mamac3mamac3 Posts: 3
    Hi - I just received the following lease offer from the dealer but I can't seem to make the numbers work.

    MSRP 24,015
    price 22,314

    residual 63%
    MF .00192

    36 month lease - $799 out the door (1st payment, tax and registration, title etc)

    The dealer is quoting $339 a month and I think it should be closer to $300 a month.

    How does this lease look to everyone? Would it be wiser to wait a few months until things settle in Japan or does it even matter?
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