Residuals and MF's for 05's?
I have had several quotes from different dealers. Looking at the 39 or 42 month lease. Assuming top credit does anyone have this information? Any help would be appreciated.
Honda's money factor for people with good credit is .00205, "205", "2.05, or anything like that. It is the equivalent of 4.92% interest.
I'd figure probably in the area of 59%-63% of MSRP for the residual. They use 55% for 48 months so I'm guestimating.
A good payment would be about $404 for a 42 month or $397 for a 39 month lease, without sales tax. This assumes a total cost of $31000 (sales tax is added to the payment, not the car cost). The residuals could be off a couple % (in their favor) as lessors are now depreciating their cars faster because they've been losing their shirts leasing cars.
If they quote anything significantly over $400 plus tax, they are screwing you. Don't be surprised if the first offer is around $500. Negotiate the purchase price and money factor, NOT the payment.
I'd figure probably in the area of 59%-63% of MSRP for the residual. They use 55% for 48 months so I'm guestimating.
A good payment would be about $404 for a 42 month or $397 for a 39 month lease, without sales tax. This assumes a total cost of $31000 (sales tax is added to the payment, not the car cost). The residuals could be off a couple % (in their favor) as lessors are now depreciating their cars faster because they've been losing their shirts leasing cars.
If they quote anything significantly over $400 plus tax, they are screwing you. Don't be surprised if the first offer is around $500. Negotiate the purchase price and money factor, NOT the payment.
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