Is it too good to be true lease deal

jayhova1776

Another lease deal that we were able to input how much "Due at Signing" with their penny perfect lease
Penny-Perfect lease $320.31 * plus tax and Due at Signing $1500

MSRP including dest: 31,630.00
Sales Price including Lease Acquisition Fee: $28,950.00
Residual 56%
MF: .00090

NJ state tax: 6.625% is paid
For zip: 07753
Is this lease deal too good to be true?

Michaell

jayhova1776 said:

Another lease deal that we were able to input how much "Due at Signing" with their penny perfect lease
Penny-Perfect lease $320.31 * plus tax and Due at Signing $1500

MSRP including dest: 31,630.00
Sales Price including Lease Acquisition Fee: $28,950.00
Residual 56%
MF: .00090

NJ state tax: 6.625% is paid
For zip: 07753
Is this lease deal too good to be true?

Is the cap cost used for the payment quote the same as the sales price?

What, exactly, does the $1500 up front cover?

jayhova1776

Michaell said:

jayhova1776 said:

Another lease deal that we were able to input how much "Due at Signing" with their penny perfect lease
Penny-Perfect lease $320.31 * plus tax and Due at Signing $1500

MSRP including dest: 31,630.00
Sales Price including Lease Acquisition Fee: $28,950.00
Residual 56%
MF: .00090

NJ state tax: 6.625% is paid
For zip: 07753
Is this lease deal too good to be true?

Is the cap cost used for the payment quote the same as the sales price?
Sales price is $28,355
The Cap cost is the 28,355 + the lease acquisition fee $595.00

What, exactly, does the $1500 up front cover?

down payment: $1,1179.69 + 1st mo payment $320.31

Michaell

jayhova1776 said:

Michaell said:

jayhova1776 said:

Another lease deal that we were able to input how much "Due at Signing" with their penny perfect lease
Penny-Perfect lease $320.31 * plus tax and Due at Signing $1500

MSRP including dest: 31,630.00
Sales Price including Lease Acquisition Fee: $28,950.00
Residual 56%
MF: .00090

NJ state tax: 6.625% is paid
For zip: 07753
Is this lease deal too good to be true?

Is the cap cost used for the payment quote the same as the sales price?
Sales price is $28,355
The Cap cost is the 28,355 + the lease acquisition fee $595.00

What, exactly, does the $1500 up front cover?

down payment: $1,1179.69 + 1st mo payment $320.31

Thank you for the clarification. I get the same payment.

jayhova1776

I’m going to the dealer tomorrow, so lets see how this leaser offer plays out.

jayhova1776

We signed the lease on Friday.
$0 down
We originally would have paid $389/ mo. but, we added the wheel/tire protection because of the 19's and 235 series tires. our monthly is $410 and change.
The one thing the Finance Guy told us, that I was a little sketchy about was, to get us to the "higher tier" (tier 2 to tier 1) (my wife and I are around 670's) they (dealer) had to include their Appearance Protection Package ($799).
Out the door we paid, $389. Following payment would be $410 and change.

Michaell

jayhova1776 said:

We signed the lease on Friday.
$0 down
We originally would have paid $389/ mo. but, we added the wheel/tire protection because of the 19's and 235 series tires. our monthly is $410 and change.
The one thing the Finance Guy told us, that I was a little sketchy about was, to get us to the "higher tier" (tier 2 to tier 1) (my wife and I are around 670's) they (dealer) had to include their Appearance Protection Package ($799).
Out the door we paid, $389. Following payment would be $410 and change.

I hate to be the bearer of bad news, but any score higher than 660 qualifies you for tier 1 from Honda.

So, they took you for $800 unnecessarily.

Consider it a lesson learned.

Congrats, and enjoy the new Honda!

Thanks for the report.

jayhova1776

I’m Ok with that because our payment wasn’t too crazy. At least we have the protection plan on the interior/exterior for the lease.

Michaell

jayhova1776 said:

I’m Ok with that because our payment wasn’t too crazy. At least we have the protection plan on the interior/exterior for the lease.

True enough.

Enjoy!