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Honda Insight Lease Questions

kyfdxkyfdx Moderator Posts: 235,200
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  • johngettlerjohngettler Member Posts: 12
    Does anyone know what money factor they are offering? I know the Civics are at .00225, which roughly equates to 5.4% (x2400). I see as part of the lease offer they are 'assuming' that dealers will knock 10% off the MSRP. Interesting, since some of them might not for a little bit.

    ======Here is the initial offer====================

    2010 Insight Featured Standard Lease
    $229.00 per month for 36 months. $2,799.00 total due at signing.
    Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.
    [Show Details] Show Details
    Request a Quote
    FEATURED LEASE: Closed-end lease for 2010 Insight LX Continuously Variable Transmission (Model ZE2H5AEW) for $229.00 per month for 36 months with a $1,975.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,799.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee, capitalized cost reduction with no security deposit. Security deposit waived in featured lease example. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

    Subject to limited availability. 03/24/2009 through 04/01/2009, to approved lessees by American Honda Finance Corp. Closed end lease for 2010 Insight LX Continuously Variable Transmission vehicles (Model ZE2H5AEW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $20,470.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $18,435.99. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $8,244.00. Option to purchase at lease end $13,919.60. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details.
  • vagabondchefvagabondchef Member Posts: 107
    Got a lease quote this evening on an Insight LX (had 5-6 cars of different colors in stock)with no money down and $265.02 per month plus tax for 36 months and 15000 miles a year. Total due at delivery would be $502.78. I might do it, especially with rising gas prices. Is it a good deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi johngettler. Not surprisingly, Honda is not currently providing any lease support on the all-new Insight. Honda Finance's current buy rate lease money factor for a 36 month lease of a 2010 Insight is .00310 for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • dodgeman07dodgeman07 Member Posts: 574
    Sounds like a fair deal to me. How much tax do you pay on top of the $265.02?

    Also confirm the "buy" price at the end of the lease.

    Good Luck!
  • vagabondchefvagabondchef Member Posts: 107
    I will pay 6.1% tax on top of the payment for a total of $ 281.18.

    Confirmation of the "buy" price is $9856.00 at the end of the lease. I'm going to see if I can get a better price.

    Need to take the car for a Real-World test drive first.
  • r56mellowyellr56mellowyell Member Posts: 3
    Car_man,

    Could you post the 24 month and 36 month MFs and Residuals for a 2010 Honda Insight LX?

    10,000 miles

    Are there any specials on nonstandard durations, like 30 months, etc.?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly can, r56mellowyell. Here you go. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2010 Insight LX with 12,000 miles per year are .00183 and 70%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    The numbers for an otherwise identical 36 month lease are .00183 and 65%.

    You can vehicles through Honda Finance for just about any term that you like 27 months, 30 months, 33 months, 39 months. The money factors for all of these terms are exactly the same as what I mentioned above.

    Car_man
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  • discostewdiscostew Member Posts: 29
    I am just checking that this is a reasonable deal prior to signing this weekend. $280 a month with $280 at signing and 35 payments of $280. No down payment. 12k / year. Includes 6% tax and all fees rolled in. Dealer is telling me that Honda has killer residuals (64%) and money factors (.00122) available right now but I haven't seen them elsewhere in print yet.
  • cluedweaselcluedweasel Member Posts: 150
    That doesn't look too bad at all. The best offer I have so far is $293 per month. That's with zero down ($619 to title and first) payment, $22010 selling price, 36 months, 12,000 miles per year. No tax here in Oregon.

    With the residual and MF you're quoting and assuming full MSRP ($22010), the monthly cost shoulds be around $264 per month before tax with zero down. Depending on how much tax is where you live, it looks like you're pretty close.
  • discostewdiscostew Member Posts: 29
    Tax is 6%. Too late now... I picked it up this morning!
  • jfersheejfershee Member Posts: 6
    Car man,

    Any chance you can share residual and lease factor for an Insight EX, 24 mo, 12K miles/yr and 36 mo, 12k mi/yr?

    Very much appreciate all your info. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, jfershee. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2010 Insight EX without navigation with 12,000 miles per year are .00069 and 68%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36 month lease are .00069 and 63%.

    Car_man
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  • HondaHonda765HondaHonda765 Member Posts: 5
    Could *someone* (carman) supply me with the current Honda finance deals for 10,000 and 12,000 mile 36 month leases on the Insight EX and the Civic EX-L. Also, do both of these have $750 dealer cash right now on the lease and where can I find the invoices prices for these?
  • jett456jett456 Member Posts: 50
    There wasn't any mention of a 750 dealer cash and I was told there is no 10,000 lease. The deals are on their website.
  • cluedweaselcluedweasel Member Posts: 150
    You can get invoice prices from the Edmunds website under the "New Cars" section. The Insight EX pricing is available here;
    http://www.edmunds.com/new/2010/honda/insight/101153447/prices.html

    The $750 dealer cash is available on all Insight models;
    http://www.edmunds.com/new/2010/honda/insight/101153447/incentives.html?vdp=off&- setzip=97702&state=OR
  • HondaHonda765HondaHonda765 Member Posts: 5
    So here is the current offer I was given from a dealer.... sound good or can I get a better deal?

    2010 Insight EX, 36 month, 12k miles (top tier credit)
    $250 per month (total including taxes)
    First month plus 300$ up front (total out the door of $550)
    no charge for mud flaps if they are already on the car, tank of gas, floor mats no charge.
  • countyslavecountyslave Member Posts: 5
    edited February 2010
    turning in a leased 97 civic EX with over miles (9000 miles)and still owing 3 payments for EX Insight with mudguards wheel locks, ($22010) dealer said 357 month includes tax etc on 36 month 15K miles year, with 5 year 60K mile warrenty NO deductable, Nothing else up front just pay the over milage (9K X $0.15) and pay off lease (3 mo at 272 month) total of $2166 out the door. hit up 2 other dealers and they could not match it. But reading all above is this really good? Think money factor was .00069 but could have been the .0141 didnt look that close as new at this. Credit is top tier. Picking up car today at Serramonte Honda here in Colma.
  • azza1azza1 Member Posts: 9
    edited February 2010
    Greetings,

    I live in NY and I am looking to lease a new EX Honda Insight for 36 months.
    Using all the (wonderfully exhaustive) information I found on this site, I have come up with following calculation

    MSRP: 21300
    INVOICE: 20,098 - 750 (dealer rebate) = 19,348
    RESIDUAL: 0.63 (63%)
    MF: 0.00069

    21,300 x 0.63 = 13,419
    19,348 - 13,419 = 5,929 (cost of leasing before taxes and interest)
    5,929 % 36 = 165
    (21,300 + 19,348) x 0.00069 = 29 (interest per month)
    165 + 29 = 194 (monthly payment before tax)
    194 x 0.08875 = 18 (monthly tax)

    600 (aquisition fee) % 36 = 16.21 + 1.50 (tax) = 18

    165 + 29 + 18 = 230

    I take this to be the monthly payment with EVERYTHING included, including aquisition fee.

    Since I rounded everything up, I figure if I allow added $10 a month ($240), the dealer can made a $360 profit. That should be sufficient

    Have I calculate everything correctly? Please let me know if I made any mistakes and if this is reasonable

    Thank you!!

    PS: I am going to be handing back my 2007 Acura which was for 10k/per year. There is only 23k on it now.
    Can it be an added negotiation boon for me that I am handing back this car to the dealership that leases me the new Honda?
  • kyfdxkyfdx Moderator Posts: 235,200
    edited February 2010
    If it helps.... the advertisement in my paper today (which looks to be the national ad) had the Insight LX CVT model with MSRP of $20,510, for $219/mo., with ZERO due at signing.. This is for 36 mo., 12K/yr..

    Don't know about you, but I'd be happy with that.. You seem to have the numbers down pretty well.. If you need 15K/yr, add about $12/mo.. To adjust for the extra $800 in MSRP, add another $9/mo..

    Looks like $240/mo. + tax, with zero due at signing, for 36mo/45K lease!

    The Insight leases better than just about any other vehicle, right now.

    (caveat... the EX may have a different lease program)

    regards,
    kyfdx

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  • azza1azza1 Member Posts: 9
    kyfdx,

    Thank you for commenting so quickly. I have not seen anything close to the advertised deal you are mentioning! Now that I look closer at the difference between EX and LX, it's not so much, unless I go for the Navi (which would get me a bluetooth, which I've found to be very, very convenient). Would you or anyone else by any chance have the money factor and residuals for EX with navi and an LX for 12/k? The numbers I calculated use Carman's info for 12k EX (it wasn't even 15k, but I don't need that much).

    Thank you!
  • countyslavecountyslave Member Posts: 5
    Hi
    When I was in the dealership leasing my EX for 36mo 45K miles Extended warrenty I saw the sales blurb for the .00069 on the mf on the EX and it was clearly expired on 2/2/2010.
    Actuually the current one as of 2/2 was .00141.
    There is a enough of a diff to warrant the extra 1K for the EX over the LX as you will get the traction and stablity control which is a BIG plus on this car, in a few years this safety device will become a required standard. The side mirror mounted turn signals (nice safety feature) and heated mirrors are a big plus along with the upgraded sound system and Cruise control which is what you will use a lot if you want to achieve high MPG, USB ( Ihave a flashdrive on mine for music) and Ipod connect along with alloy wheels are frosting but none the less for 1k more it is a real deal. The nav is a Extra on top of the EX it is not standard with it and adds nearly 1800 to the price of the car go upgrade the LX to the EX with Nav. I can read a map quiet fine and after having a 07 Civic with Nav I found it to be lacking on updates so in San Francisco bay area I found it sending me down the wrong way on streets and actually couldn't find my own house which has been there for nearly 60 years (my street was listed in the wrong city) and in one case the freeway had been changed 2 years earlier and it would have sent me onto a closed offramp.
    Currently the EX is running about 22K here without nav and that is 1K over a Civic EX loaded which if you drive the Insight about 45K a year will more then pay for the gas savings over a Civic on a monthly bases, Civic does not even offer the traction and stablity control. Take a Insight down a windy road and push it just a little and you will really appreciate the diff in handling, really ties down that light backend and tendency to plow on corners, and on a wet road it can be a life saver. I took a LX out and really pushed it (salesman loved the ride though) and noted the diff in handling.
    On the East Coast they may have a diff deal but Insight is a much in demand car here in Calif and its not so much of a buyers market in this area. My local dealer cannot touch that price and terms you have mentioned above. 219 a month with no drive out is only 20 more a month with a driveout of nearly 2400 on a LX insight here (199 and2400 at lease sighing here). What will hit you is if you drive over the 36 k miles and buy a extend warrenty as Honda does not prorate the extended warrenty anymore and you will pay for a full 5 year warrenty. You do NOT want to be stuck with a Hybrid that has the warrenty run out (note that it is no even 100% warrenty on the new car but has a deductible) and needs a major issue repair of some kind. Extended repair is available with 250 or 0 deductible I chose 0 as it is a VERY new car and no one really knows its future issues. Sorry to be so lengthy.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Hi HondaHonda765. If you haven't leased your Insight yet, you're in luck...Honda just enhanced its lease program on it last week. It's now featuring a "zero due at signing" lease on this car.

    Honda Finance's current buy rare lease money factor and residual value for a 36 month lease of a 2010 Insight EX with 12,000 miles per year are .00107 and 63%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2010 Civic EX-L Sedan without navigation are .00107 and 58%.

    I'm not sure if Honda Finance offers leases with only 10,000 miles per year (if it does, I've never seen one).

    There is currently a $1,150 cash incentive on leases of the Civic and $750 on the Insight.

    Car_man
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  • 03minidrvr03minidrvr Member Posts: 6
    Hello wonderful forum people,
    I just received an "internet price" from Honda of Oakland (California) for $21,699 for a 2010 Insight EX w/Navi. Since it's below MSRP and Edmund's invoice price of $21,790, it brings the Insight to the top of my list. Does this sound like a reasonable price for the current market?

    I was also told a 36 month lease with 15K miles has a 59% residual value. The email also says ".00107 money factor or .00141 depending"

    The plan is for my husband to test drive one tomorrow (I test drove one a couple months ago) so any quick advice would be greatly appreciated.

    Thank you!

    p.s. and thank you again to everyone who posts to the forums. I feel so much more empowered/informed when I talk to car salespeople now.
  • usairusair Member Posts: 23
    wait until march end. Toyata announcng big rebates and everyone else will follow. Plus Insight is a very slow seller, they will have to do better if they want to move it. I am going to wait it out.
  • jfersheejfershee Member Posts: 6
    Honda is giving $750 dealer cash right now, so you should be able to get the price to $750 below invoice (or very close). At least in the Midwest, they will sell them at or very close to invoice minus dealer cash to get the moving. Good luck!
  • countyslavecountyslave Member Posts: 5
    Hi
    For the record I have had my EX Insight for 3 weeks and best mileage was 58mpg from Daly City to San Jose on 101 steady 66mph about 100 mile round trip. Average since I bought it has been 46 mpg. big jump over my 07 Civic at 29 average.

    That seems a rather high for the internet price but if you really think you need the nav (very poor nav at that as my 2 year old Tom Tom can run circles around the navigation feature, just no voice recognition etc, but I can read a map and in a pinch I can do a Mapquest before I leave home) keep in mind that many dealers use the internet as a hook to make you think your getting a "special" price and actually it is NO deal at all.
    I went back to Marin Honda where I leased my 2007 civic EX from and they would do 21K for the Insight EX without nav and money factor at that time was .00141.
    I showed those figures to Serramonte Honda and they went one better at $20230 and same money market value AND they threw in the wheel locks cargo liner, cargo cover and splash guards. Think this was about $400 in extras (should be standard along with carpet mats). I also purchased a extended 60K mile no deduct able warrenty and to be driven 15K a year for 3 years.
    If you want to add accessories go to Ebay as genuine Honda parts are much cheaper even with shipping on the net, many are from Honda dealers that have internet parts sites.

    Keep in mind Toyota is coming back with a vengeance to make up for lost sales and Honda is going to have to work to beat out Toyota this coming month. As of now you can get the Toyota for $250 a month and $1500 drive off so adding a their extended warrenty will put it about $265..very hard to beat.

    If you are going to go over 15K a year on your Insight read your warrenty carefully as it is NOT a full 100% warrenty even for the first 36K miles. Suggest you go for the full extended warrenty for 5 years 60K miles and NO deductible (Honda no longer allows the extended warrenty to be prorated) as you do NOT want to be looking at a expensive repair job of anything on a Hybrid after the warrenty runs out.
  • azza1azza1 Member Posts: 9
    Hi CarMan,

    Can you please tell me what the March residual and money factor are on the 2010 EX and LX Insights (NY area), for 12k and 15k?

    Thank you very much!
  • 67ty567ty5 Member Posts: 4
    Here is the quote that I received. I think its a bit pricey.

    This is for a SPECIAL lease on a 2010 Honda Insight EX

    12k miles per year/36 months
    Moneyfactor .00132 (the amount of interest per month)
    Residual (Option to buy at end of lease term) $13,866

    Money Down: $395 (this is just for DMV registration)
    Payment: $273 plus tax
    $297.79 (with tax included)

    ===============================================

    This is for a lease on a 2010 Honda Insight EX

    15k miles per year/36 months
    Moneyfactor .00132 (the amount of interest per month)
    Residual (Option to buy at end of lease term) $13,426

    Money Down: $395 (this is just for DMV registration)
    Payment: $285 plus tax
    $310.46 (with tax included)

    I think I should ask for a lower moneyfactor. Is their anything else I should focus on?

    Ideally I want to pay 0 down, get the first month free, for 250 a month to include 15K miles. Is this possible for an EX,
  • azza1azza1 Member Posts: 9
    You cannot ask for a lower MF as it is one of the things that is not negotiable: it is what it is
    However, when I plug in the MF you indicate, I get 276/month, with acquisition fee, delivery fee, and taxes included.
  • 67ty567ty5 Member Posts: 4
    Thanks for the reply

    If the money factor is not negotiable then why has everyone else on this board listed different money factors? I dont get it.

    Yeah I dont get their numbers either. I think I am going to ask them to break down the cost for me again. Best,
  • countyslavecountyslave Member Posts: 5
    Money factor depends on many things including the area, economy, car make and model and how well the product is leasing, etc.
    I live in Calif and I have seen 2 diff money factors at the same time within 100 miles.
    Insights seem to sell very well here in the SF Bay Area and I have seen money factors from the low 70s to over 141 within 10 days of each other for Insights, Civics and Accords at the same time. Think of it as a adjustable mortgage changing on the whim of ??
  • capplacappla Member Posts: 29
    Hi Car_man and kyfdx,

    Can you confirm the lease numbers for March 2010 for these?

    Insight LX, 36 Months, 12K & 15K
    Insight EX, 36 Months, 12K & 15K

    Thank you!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi azza1. Honda Finance's March 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 .00142 and 61%, respectviely for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2010 Insight LX are .00142 and 61%.

    If you go with a sign & drive lease, the Insight's money factors drop slightly to .00132.

    When negotiating your lease on the Insight, make sure to take advantage of the $750 dealer cash that is available on it this month.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Honda's money factors vary by model, credit tier, and sometimes trim level but they are usually the same across the country. Consumers definitely should find out what the buy rate is for the model they are interested in before entering into serious negotiations and make sure that the dealer uses it to calculate their monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, cappla. Honda Finance's March 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 .00142 and 61%, respectively.

    The numbers for an otherwise identical lease of a '10 Insight EX are .00142 and 61%.

    These cars' factors drop to .00132 for sign & drive leases.

    Car_man
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  • 67ty567ty5 Member Posts: 4
    So, assuming everything is relatively the same then final sale price is the most important factor that determines the monthly lease price. Is this correct?

    Also, sorry for the newb questions, but what does sign and drive mean. This is the first time I have ever considered a lease.

    Thanks again carman and everyone else
  • azza1azza1 Member Posts: 9
    http://jelmac.wordpress.com/2007/11/30/dealer-dictionary-sign-and-drive/

    In my opinion, it's a desired thing to do for the consumer regardless of the fact that it you get a better rate
  • capplacappla Member Posts: 29
    Thank you Car_man!!

    Also, what is the money factor and residual value for a 36 month lease of a 2010 Insight EX with Navigation and 15,000 miles per year?
  • 1locksley1locksley Member Posts: 2
    Thanks to carman, kyfdx, and other members of this forum for the money factor and the possibility of leasing 2010 honda insight ex :)

    On past Saturday, I went for a test drive for Honda Insight EX and Fit Sport at Kings Honda just to get a feel for the both. There, the dealer showed me regular lease option for EX which amount to $330.82 + tax/month for 36 months. I thanked the dealer and told him that I would talk it over with my wife.

    When I got home, I use the lease calculation and TMV value from Edmunds and both money factor and residue values from this forum to calculate. It is possible to get an Insight EX at $244.89 + tax. Armed with this information, I emailed

    Performance Honda
    Superior Honda
    Honda East
    Jeff Wyler Honda

    within the hour, I get a response from Honda East which accepted my offer however, I do have to pay $244.89 for 36 months instead of 35 months of their current 0-0-0-0 deal. Superior Honda sent me couple acknowledgment of receiving my emails.

    On Sunday, we followed up with Honda East by asking if they willing to pay for the last payment of my leased Civic which they're readily agreed. Performance Honda called and the salesperson on the other end sounded very reluctant to give us the deal.

    So, in the end, we went to Honda East and spent almost an hour to get final test drive on the selected vehicle, signed all the necessary paperwork, and drove home a brand new Insight EX. The entire experience is lot less stressful since our last car lease in 09 where we spent about 3 hours plus sitting at the dealer and negotiated.

    The only pet peeve is the fact that Honda East didn't have the desired car color readied when we signed the deal.

    This can't be done without the help of Edmunds, carman, kydfx and other members of the forum who dare to ask the unasked question.

    Thank you :shades:
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You are absolutely correct, 67ty5. Assuming that the dealer is using this car's buy rate to calculate your payment the most important number to focus on when negotiating a lease is the vehicle's selling price. The lower the selling price is, the lower your lease payment will be.

    Sign and drive means that you don't have to pay any money at lease signing. Honda Finance is waiving the security deposit, rolling its $595 acquisition fee into vehicles' capitalized costs, and dealers are paying the first month's payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome cappla. According to the latest information that I have seen, Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2010 Insight EX with navigation and 15,000 miles per year are .00142 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The money factor for nothing due at signing leases of this car drops slightly to .00132.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited April 2010
    Congratulations on getting your new Insight, 1locksley. Thanks for taking the time to let us all know how everything turned out. If you haven't already, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your purchase experience with an even more people. Enjoy your new ride!

    Car_man
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  • 67ty567ty5 Member Posts: 4
    edited April 2010
    Hi 1locksley, what was the final purchase price and how many miles per year? I am assuming 12k correct or did you get 15k?

    CArman I am trying to get 15k lease. Dealer says its going to cost 10 cents a mile. The penalty is 15 cents on the honda. So, is 10 cents a norm, is it negotiable?
  • 1locksley1locksley Member Posts: 2
    $20,309.34
    12K miles
    Didn't go for 15K miles since I know for certain that I'll be under 12K miles per year.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 67ty5. If you drive 15,000 miles per year, don't go with a 12,000 mile per year lease. You will be much better off going with a lease that allows 15,000 miles per year from the get-go. Honda Finance's residual values for leases with 15,000 miles per year are 2% lower than its residuals for leases with 12,000.

    Car_man
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  • cduvacduva Member Posts: 1
    So I got a ton of Internet quotes (fortunately living in L.A. there are about 12 Honda dealerships within 20 miles). I was trying initially to find if I could get a similar deal on the EX w Nav as Honda is running on the LX ($0 down, $0 due at signing, $240 pre-tax per month for 35 months with 12K miles per). I got a bunch of ridiculous quotes (over $300 per month) 2 at $290 and one at $275.

    Thanks to this forum, I decided to go down to the EX and went back to the low quote from Downtown Honda of LA. The guy was great. (The first Auto response he gave me was filled with advice about how other dealers try to hide their true costs).

    So here's the deal on the table that I think I'm going in tmw morning to take:

    35 payments of 266.11 including tax
    -- in LA county the tax rate is 9.75% so the payment is $242.53 pre tax
    Money Factor = .00142 on super preferred credit tier
    12k residual = 63%
    The MSRP is $23,100 so I'm figuring the negotiated price is $20,661 which is in line with Edmund's Market Value

    Drive off:
    328.75 DMV
    45 doc

    If anyone feels there's an angle I'm missing please let me know. But with the Hybrid Gas Savings I feel like it's a pretty good deal.
  • dsmkid95dsmkid95 Member Posts: 3
    hello,

    My name is Eric and I need to get some information regarding leasing a vehicle as this will be my first time. When leasing a vehicle, am I able to negotiate on the actual price of the car? I read a few posts on here and keep reading about the money factor and cap cost and wondering if someone can point me in the direction of learning what each means and how this affects me. Looking at possibly leasing an insight by next week and want to get as much information as I can before the emails start coming in.

    Thanks
  • avljmaxavljmax Member Posts: 10
    Just curious if anyone - especially the host - knows if the current lease deals will continue into May? I'm interested in the EX w/o nav.

    Thanks for your help!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome Eric. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    Check out the above articles and let us know if you have any questions. Good luck.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi avljmax. Honda's April lease program is scheduled to run through today, May 3rd. It will introduce its new May programs some time tomorrow. It is difficult to say exactly what they will be like at this point. Please feel free to post a quick reminder in this discussion for me and I will gladly fill you in on the details when they are available.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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