Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Honda Fit Lease Questions

13»

Comments

  • Car_man,

    Might you educate me on some aspects of leasing?

    I am interested in leasing a new Honda Fit but want to minimize monthly cash flow requirements while still preserving ability to buy the car at end of lease term at a price that in the end is not terribly different than purchasing the car at outset (that orig lease costs plus payments plus later purchase price is ~equal to new car purchase price).

    Creditworthiness for this discussion is best available. I need 15k miles/yr. Is state sales tax dealt w differently in different states? This could originate in florida or illinois. Are there differences aside from differences in state sales tax in the respective places?

    Might you help?

    Thanks,

    TNL
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi truthnlabeling. Yes, the methods for calculating sales tax and the rates that are charged vary from state to state. Florida is a much better state to lease in than Illinois, tax-wise. Illinois and Texas are notorious for being the worst states to lease in.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man: could I please get the MF and residual for a 36-month lease of a 2012 or 2013 Base 5-speed automatic (super-preferred credit tier, 12K or 15K miles/year) in New Jersey?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to oldfogie. Even though Honda is not currently providing any support on the Fit, its standard lease program on it actually isn't too bad.

    Honda Finance's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Fit with 15,000 miles per year are .00185 and 59%, respectively for consumers who qualify for its top credit tier.

    If you were to lease this car with 12,000 miles per year, its residual value would be 2% higher.

    I haven't seen any info on the 2013 Fit yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Just curious if someone could post the current money factor and residual value for the 2013 Honda Fit. The lease would be for 60 months @ 15,000 miles per year. I would greatly appreciate it. Thank you so much.
  • Hi missy2r2. 60-month leases typically aren't a very good idea. Manufacturers usually don't provide support on leases that are longer than 36 months or slightly longer. That's not an issue on an unsupported vehicle like the Fit, however you are still locking yourself into driving a Fit under a restrictive contract for a very long period of time. Over the course of five years, your life situation could change causing you to want a larger vehicle or your commute could change causing you to go way over your mileage allowance. 60-month leases are so uncommon that I personally don't even keep tabs on the details for them.

    I can give you an idea of what the numbers for a 4 year leases of a fit would be like. Honda Finance's November buy rate lease money factor and residual value for a 48-month lease of a 2013 Fit with 15,000 miles per year are .00180 and 52% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Could someone give me the current residual and money factor for a 2013 Fit base model for a 36month, 10k mile lease?

    Thanks!
  • Here's the information that you're looking for bconway52.

    Honda Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2013 Fit Base with 10,000 miles per year are .00155 and 63% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • satxrnsatxrn Posts: 1
    I'm looking to lease a 2013 Honda Fit LX w/Auto with zero down. What would be a great monthly payment. Also, I'm in Texas, what makes Texas on of the worse places to lease a car?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi satxrn. Leasing is tough in texas because of the way that your state calculates sales tax on leased vehicles. The sales tax on leases in both Illinois and Texas are substantially higher than they are in most other states.

    I could work up a sample lease payment on the Fit that you're interested in if you provide me with its MSRP and selling price.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • roadrageeroadragee CaliforniaPosts: 70

    Hi

    Do you have MF & residual for 2015 Fit EX - 24 month / 12k & 36 month / 12k ? California

    Thanks

  • MichaellMichaell ColoradoPosts: 5,601

    @roadragee said: Hi

    Do you have MF & residual for 2015 Fit EX - 24 month / 12k & 36 month / 12k ? California

    Thanks

    24/12 - 73%

    36/12 - 67%

    .00116 MF

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • roadrageeroadragee CaliforniaPosts: 70

    @Michaell said:

    Thanks you! No matter how you slice it, it's really hard to beat the lease deal on the 2014 Prius. I guess Prius as is!

  • smartin104smartin104 Posts: 16

    @roadragee said: Hi

    Do you have MF & residual for 2015 Fit EX - 24 month / 12k & 36 month / 12k ? California

    Thanks

    24/12 - 73%

    36/12 - 67%

    .00116 MF

    Hi.. any differences for the EX-L with Nav in northern NJ?

  • MichaellMichaell ColoradoPosts: 5,601

    @smartin104 said: roadragee said: Hi

    Do you have MF & residual for 2015 Fit EX - 24 month / 12k & 36 month / 12k ? California

    Thanks

    24/12 - 73%

    36/12 - 67%

    .00116 MF

    Hi.. any differences for the EX-L with Nav in northern NJ?

    Subtract 2% from the residual for the EX-L. Same MF.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • zacwarezacware Posts: 16

    Hi! Could you tell me the MF and residual on the 2015 Honda Fit LX CVT? I am in Southern New Jersey.

  • MichaellMichaell ColoradoPosts: 5,601

    @zacware said: Hi! Could you tell me the MF and residual on the 2015 Honda Fit LX CVT? I am in Southern New Jersey.

    MF is .00116, residual is 66% for 36 months, 15k per year.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

13»
Sign In or Register to comment.