All you leasers out there that bought an '02 with a 4 yr lease. What residual was your contract written under? I'm starting to wonder about mine ($20k).

 

I leased my MY02 for 3 years and the residual is around $22,000.

 

I talked to one '02 owner a while back and he leased his for 4 yrs with a residual of $18k. I'm wondering what the logic is with the differences as I thought Honda determined the residual.

 

Lower your payments with a higher residual, they probably have a ballpark they are allowed to play with.

 

depends on where in the model year the lease is conceived...

the residual is the highest when the model first comes out...and declines steadily until the next model year.

"factory" residuals also take into consieration market factors as well.....

i.e. change in design, etc... for the mext model year.

 

My residual is $19,000. I got the car in October of 02 and the price before dest. was about $28,900.

 

I think the residual has to do with
1) How much you paid for the car
2) How much money you put down
3) How long you lease the car
4) "APR" on the lease

All of these factor in to how much your payments are, which in turn should determine your residual.
Or am I way off?

 

Mine is 18K and some change.

 

I just got a used black/black '03 a month ago. 48 month lease, 15k per mo...17,700 residual value. Payments are $374.00 per month.

Good deal? I dunno. I stopped stressing (well, doin my best ) about whether I got ripped of or not and am enjoying the car a lot more.

Jon

 

[QUOTE]Originally posted by Kiefer74
Good deal? I dunno. I stopped stressing (well, doin my best