Who has the best lease deal?
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Joined: May 2004
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From: Vienna, VA
leases are all done the same way.
the biggest determinants in the monthly price are the selling price of the car (you CAN negotiate that), the interest rate/money facor (depends on credit) and the residual (you cannot negotiate that).
Honda does have a pretty low money factor, but your credit has to be decent.
Term and mileage are negotiable. Just about everyone has back end fees, too. Norm is $500 if you give the car back. There is also acquisition, normally 4-500 also.
You should NEVER, NEVER put money down on a lease. If something happened to the car the next day you will lose it ALL (the car does not belong to you, so you would not get an insurance check).
the biggest determinants in the monthly price are the selling price of the car (you CAN negotiate that), the interest rate/money facor (depends on credit) and the residual (you cannot negotiate that).
Honda does have a pretty low money factor, but your credit has to be decent.
Term and mileage are negotiable. Just about everyone has back end fees, too. Norm is $500 if you give the car back. There is also acquisition, normally 4-500 also.
You should NEVER, NEVER put money down on a lease. If something happened to the car the next day you will lose it ALL (the car does not belong to you, so you would not get an insurance check).
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Joined: Dec 2004
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Originally Posted by steven975,Jan 27 2005, 07:39 AM
leases are all done the same way.
You should NEVER, NEVER put money down on a lease. If something happened to the car the next day you will lose it ALL (the car does not belong to you, so you would not get an insurance check).
You should NEVER, NEVER put money down on a lease. If something happened to the car the next day you will lose it ALL (the car does not belong to you, so you would not get an insurance check).
A typical lease might be $XXX per month for 4 years, with $2000-$5000 due at signing. So you are saying never pay the up front money?
The dealer blends this initial deposit into a higher monthly payment? Is this common practice?
Thanks,
glenmore
Registered User
Joined: May 2004
Posts: 5,094
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From: Vienna, VA
the only thing that you should pay up front are acquisition related fees.
do not do a "capitalized cost reduction" which is lease-speak for down payment. if the car is totalled you will lose it all. remember the car is not yours so you never see an insurance check. if the car is worth more than the value of the loan...too bad!
do not do a "capitalized cost reduction" which is lease-speak for down payment. if the car is totalled you will lose it all. remember the car is not yours so you never see an insurance check. if the car is worth more than the value of the loan...too bad!
Thread Starter
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Joined: May 2001
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From: Dallas
I remember a while back that Honda was offering a $399/mo lease with just a little down for 36 months, 12 or 15k miles a year. I would be looking for something similiar?
Does that sound reasonable for a new '05?
Does that sound reasonable for a new '05?
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Joined: Dec 2003
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From: Hollywood
Originally Posted by QUIKAG,Apr 19 2005, 04:02 PM
I remember a while back that Honda was offering a $399/mo lease with just a little down for 36 months, 12 or 15k miles a year. I would be looking for something similiar?
Does that sound reasonable for a new '05?
Does that sound reasonable for a new '05?
i initially thought i got a good deal, but realized it was only ok after a while.
mine is :
1. $1000 down
2. $412 + tax = $450/month
3. 36 months/ $19500 buy the car at the end of lease
4. 12k
5. ???
so the $399 sounds good to me, if you have that deal you should consider it.
