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Honda Insight Lease Questions

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  • luvautoluvauto Member Posts: 25
    Great forums. Car_Man and members provides so much valuable info. Excellent!
    I'm in the market and need current leasing/incentives data.
    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks luvauto :). I'm glad that you enjoy the forums so much. Here's the info that you're interested in. You never mentioned what trim level, term, or mileage allowance you are interested in so I had to make some assumptions. Let me know if you want something different.

    Honda Finance's current 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 .00126 and 61%, 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 $750 dealer cash that is currently available on it.

    Car_man
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  • jett456jett456 Member Posts: 50
    So anyone in CT that leased an insight or other hybrid has to now pay sales tax on the remainder of their lease. I wonder if I can sue???
  • unemployableunemployable Member Posts: 5
    Just spoke to two dealers in New Jersey and here is what i got :

    MSRP: 22,050 EX MODEL
    Money factor: .00126
    Residual: 13,891
    Nothing Down, only first payment and out the door.
    Terms: 36 months with 12k miles for $264/month tax are included in the price

    second dealership did this
    MSRP: 21,300 EX MODEL
    Money Factor: Same
    Residual: Same
    Nothing Down, Only first payment and out the door
    Terms: Same at $291 per month and taxes are included in the price...

    Ok so now here is my question? What can i negotiate them down to? what are people getting in the state of New Jersey? With no money down can i get them at $220/month for the same terms and on the BASE EX model?

    Thank you very much forumers ;) this really helps when i go to the dealership.
  • yessirmanyessirman Member Posts: 4
    Have you heard anything about the July sales? Insight Leases?

    Yes sir man
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi yessirman. Honda's June lease program is scheduled to run through today, July 6th. It's new July programs should be available some time tomorrow. Please feel free to check back with me then and I will be happy to fill you in on the details.

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  • yessirmanyessirman Member Posts: 4
    Saw this mornings July sale, and there was no mention of leasing deals.
    Any Idea what to expect in the leasing area for July?
    Had planned on dealing now, but if no deals will wait til Aug. My area is east Ohio. Which does not appear to have much of a selection available.

    Please fill me in on what my possibilities are,re: leasing Insight now>

    Many Thanks

    Yes sir man
  • yessirmanyessirman Member Posts: 4
    Dear Car Man,

    I notice this morning that Honda has added a 36 Mo $179 per month with $1999. due at signing. I really didn't want to come up with the $1999. deal, but will if absoutely necessary.
    Going to the Dealer Monday. Can you provide me with some sort of ammo for the talk? What should I expect. I want the EX Model.

    Thanks for your time and expertise.

    Yes Sir Man
  • vertigokanevertigokane Member Posts: 1
    Just leased a 2010 Honda Insight LX yesterday, and was wondering if I got a good deal?

    The Gross Cap Cost was: 22327.00

    The agreed upon value of the vehicle (as shown on the contract) is 21240.00

    They gave me $3607 for my trade

    The residual value is 12176.00 + the rent charge of 1176.84 = 7181.84 for base payments

    I'm from Texas, and we have an 8.25% sales tax

    The car is costing me $199.47 per month.

    When they first estimated the monthly payment to be in the $195-199 range I was satisfied, and they told me that they had reduced the the value of the MSRP to get to that number, but upon closer inspection, I'm not sure if I'm paying sticker price for the car.

    did i get ripped off?
  • delta737hdelta737h Member Posts: 626
    edited July 2010
    vertigokane,

    You haven't provided enough information (e.g., money factor, adjusted cap cost) for anyone to validate the payment. The MSRP has nothing to do with selling price and is only used to calculate the residual value. So, here's what I suggest...

    Ask the dealer for their LEASE WORKSHEET. This is a computer generated document that will tell you everything you need to know and then some. The beauty of this document is that it always tells the truth so that there is no misunderstanding or confusion. Please feel free to email it to me at

    diffeq@zoominternet.net

    and I'll be happy to analyze it for you.

    All the Best,

    John
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member Posts: 38,514
    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 Member 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 Member 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 Member Posts: 38,514
    You're very welcome, yessirman. Thank you for the kind words.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • wombat94wombat94 Member Posts: 5
    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
  • jerrymisjerrymis Member Posts: 1
    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.
  • murcielagomurcielago Member Posts: 4
    Ted,

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

    Thanks!

    Xavier
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • ahaniaahania Member Posts: 1
    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.
  • nomorejeepsnomorejeeps Member Posts: 3
    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!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member 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.
  • mlee27mlee27 Member Posts: 2
    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • gottainsightgottainsight Member Posts: 1
    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 Moderator Posts: 235,268
    Cheap transportation..... good job!

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  • amcdonal86amcdonal86 Member Posts: 1
    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 Member Posts: 13
    Car_Man,
    could you tell me what kind of numbers to expect for leasing a 2010 insight? MF, residuals, 15k
  • spohiospohio Member 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 Member Posts: 13
    gottainsight,
    do you know what percentage they used for a residual value on the lease?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member Posts: 69
    Hi Car_MAN when will car be out? any expected changes significant? or plug in hybrid?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member Posts: 69
    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 Member Posts: 38,514
    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.

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  • zoranzoran Member Posts: 69
    :(, what does that mean? if any thing goes wrong, then they cant fix it? and wont bring out 2012 models?
  • mamac3mamac3 Member 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?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey zoran. I think that you misinterpreted what I meant by support. I meant that Honda is not currently providing any support in terms of special incentives to buy or lease an Insight right now. Honda is still selling and servicing them as usual. The 2012 models may end up being delayed slightly, but they are coming.

    Sorry for the confusion.

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  • mamac3mamac3 Member Posts: 3
    Car Man - I understand that Honda just pulled the plug on all support for the 2011 insight as well. Do you think we will see it come back before the 2012's get released? The mf on these looks pretty bad right now so not sure if I wait it out or move onto another model. (At this point the leaf lease is the same as the insight lease- and the money saved on gas will pay for the charger installation) - what's a girl to do?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey mamac3. Of course, it's always difficult to predict exactly what automakers will do with their future programs, but I personally highly doubt that we will see any support on the Insight until the Japanese automakers get their plants straightened out and gas prices drop significantly.

    Car_man
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  • zoranzoran Member Posts: 69
    any idea, when and any change
  • ariknycariknyc Member Posts: 37
    A local honda dealer has a bunch of 2011 New Insightes in stock. They want $19000 for them. Can I get some advice? Are these worth buying, should I work the price down? If I buy it, I will probably need to put over 30K miles per year on it with mostly highway miles. I figure I will run it at 55-60 MPH in eco mode with cruise control and I hope to get maximum MPG for it. It comes with the 150,000/10year warranty on the hybrid and the regular 3/36K B2B warranty.

    Help me out folks, what's a good price fo these, what should I look out for. THanks.
  • rosenbj1rosenbj1 Member Posts: 20
    Hi Car_man:
    Would you be able to post the current residual and money factor for a 2012 Insight EX for 36m/36k? I was reading that earlier years have lost leasing support, is it the same for 2012? Thanks

    -Jonathan R
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Jonathan. What you heard is correct. Years ago Honda had to provide support on the Insight because it couldn't give them away. Now that gas prices are significantly higher Honda doesn't have to provide support on it any more.

    Honda Finance's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Insight EX with 12,000 miles per year are .00185 and 61%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • oojasoojas Member Posts: 6
    Hey Let me know if this is a good deal. Brooklyn Dealer

    Honda Sports MSRP 24980
    taxes 289
    aqui 595
    36 month lease with 935 taxes upfront

    He told me that with 0 down i will be paying 270 a month for 36 month lease

    is this a good deal?
  • lesseefairlesseefair Member Posts: 132
    Looking for the money factor and residual % on a 2014 Insight base hatchback for Wisconsin.

    24/12,000 (if offered)
    36/12,000

    It doesn't look like anyone has posted or responded in this forum in 2 years, but I'm hoping for the best... LOL
  • MichaellMichaell Moderator Posts: 240,156

    Looking for the money factor and residual % on a 2014 Insight base hatchback for Wisconsin.

    24/12,000 (if offered)
    36/12,000

    It doesn't look like anyone has posted or responded in this forum in 2 years, but I'm hoping for the best... LOL

    I don't have any lease information for the Insight, sorry.

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