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Honda Fit Lease Questions

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Comments

  • saravahsaravah Member Posts: 2
    Thanks, but not necessarily. The other deal required $2000 down so that would inevitably change the monthly payment. Furthermore, the former post didn't mention what model they were leasing--could have been the base Fit but I can't be sure so it makes comparisons difficult. In any case, I've decided to go for a different make/model but thanks for the input!!
  • contract_buildcontract_build Member Posts: 26
    edited December 2010
    Dear Car_man,

    I wish to thank you in advance of any information you (or kyfdx) might provide to my questions on this leasing forum (as well as some other Honda car leasing forums I'll post a question on).

    Car_man, because of your essential information 4-1/2 years ago here on Carspace/Edmunds, we were able to negotiate, in April 2006, a 3 year/15k lease on the then current year 2006 Honda Pilot EX-L that:

    We got priced down to $28,139.48, and, thuslyCost us only $358.14/monthHad a residual of only $16,197.50... so we bought the Pilot at the end of our lease!!!
    We're currently looking to lease another Honda - somewhat more mileage oriented - and wish to know if you have any December figures for the 2010 or 2011 Fit?

    My wife and I are looking at the Fit Sport-5 spd/manual ($17,160 msrp) 12k/15k residuals and the money factor(s) for the Honda Financial leases.

    Once again, THANK YOU!

    Sincerely, builder
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey builder. Honda Finance's December buy rate lease money factor and residual value for a 36 month lease of a 2010 Fit with 15,000 miles per year are .00033 and 57%, respectively for consumers who qualify for its top credit tier.

    I haven't seen anything on the 2011 Fit yet.

    Car_man
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  • polerispoleris Member Posts: 1
    Hi Car_man,

    Could you look up the money factor and residual value for a 24 month lease of a 2010 Fit Sport with 12,000 miles per year?

    Also, does the residual value depend on mileage? Is there a good tool or table to calculate residual value for different Fit years?

    Thanks,
    Edwin
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Edwin. Honda Finance's March buy rate lease money factor and residual value for a 24 month lease of a 2010 Fit Sport with 12,000 miles per year are 0.00011 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Yes, vehicles' residual values vary depending upon what mileage allowance you want.

    Car_man
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  • j_smith1j_smith1 Member Posts: 60
    Car_man,

    Can you post June money factor and residual for 2011 Fit Sport 5 speed manual 3 years/36k? Any rebates or dealer cash on this car in NY?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi j_smith1. Honda finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Fit Sport with 12,000 miles per year are .00185 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is not providing any incentives on the Fit right now.

    Car_man
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  • guswomanguswoman Member Posts: 1
    I'm a first time leaser and am having trouble findout out specifics on this. Is it possible to lease a 2011 Fit sport for 3 years/45K miles (15K/year)? If so, what increase should I expect in the monthly payment?

    Thanks in advance for any info you can share!
  • turbo5spdturbo5spd Member Posts: 2
    Hi Car_man - could you provide the money factor and residual on a Fit Sport with manual transmission for 3 years, 12K and 15K miles/year? Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, turbo5spd. Honda Finance's October buy rate lease money factor and residual value for a 36-month lease of a 2011 Fit Sport without navigation with 15,000 miles per year are .00185 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
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  • truthnlabelingtruthnlabeling Member Posts: 1
    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 Member Posts: 38,514
    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
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  • oldfogieoldfogie Member Posts: 2
    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 Member Posts: 38,514
    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
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  • missy2r2missy2r2 Member Posts: 1
    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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
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  • bconway52bconway52 Member Posts: 7
    Could someone give me the current residual and money factor for a 2013 Fit base model for a 36month, 10k mile lease?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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
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  • satxrnsatxrn Member 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 Member Posts: 38,514
    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
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  • roadrageeroadragee Member Posts: 135

    Hi

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

    Thanks

  • MichaellMichaell Moderator Posts: 240,097

    @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

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  • roadrageeroadragee Member Posts: 135

    @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 Member Posts: 42

    @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 Moderator Posts: 240,097

    @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.

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  • zacwarezacware Member Posts: 17

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

  • MichaellMichaell Moderator Posts: 240,097

    @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.

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  • plp314plp314 Member Posts: 4
    Hi,

    Could you tell me, please, the MF and residuals for 12k/24 months and 12k/36 months for a both a Fit EX and a Fit EX-L in MA.

    Thanks!
  • kyfdxkyfdx Moderator Posts: 235,188
    plp314 said:

    Hi,

    Could you tell me, please, the MF and residuals for 12k/24 months and 12k/36 months for a both a Fit EX and a Fit EX-L in MA.

    Thanks!

    .00102 MF

    EX: 72% and 66% residual.

    EX-L: Subtract 2%

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  • plp314plp314 Member Posts: 4
    In my request above,
    kyfdx said:

    plp314 said:

    Hi,

    Could you tell me, please, the MF and residuals for 12k/24 months and 12k/36 months for a both a Fit EX and a Fit EX-L in MA.

    Thanks!

    .00102 MF

    EX: 72% and 66% residual.

    EX-L: Subtract 2%
    Thank you so much!
  • ClairesClaires Member Posts: 1,222
    To discuss the latest lease details for the current model, please join us in the 2015 Honda Fit Lease Questions forum.

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