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Honda Fit Lease Questions

45 messages,  Last post on Sep 04, 2009 at 2:41 AM

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What is this discussion about? Honda Fit, Car Leasing, Car Buying, Hatchback

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#11 of 45 Lease? DON'T. by frayadjacent May 17, 2006 (3:58 pm)
Lease a car? Best advice: DON'T. Replies to this message: jimmy5150 (May 18, 2006 9:27 am) bmb33 (Dec 03, 2006 11:40 pm) Car_man (Jan 04, 2007 4:55 am) and 1 more... hbodu (Feb 10, 2007 11:59 am)
#12 of 45 Re: Lease? DON'T. [frayadjacent] by jimmy5150 May 18, 2006 (9:27 am)
Replying to: frayadjacent (May 17, 2006 3:58 pm) Why?   Cars are tools. Use them and lose them.   If you purchase cars every few years, only to trade them in and "break even" or lose a grand here or there, a lease payment that's $100 a month lower than the purchase payment, wil save you $3600 over 3 years.   Will you have $3600 of equity in a car after 3 years....probably not.   Don't go over the miles. Don't have an unusual amount of wear and tear. Don't have any thoughts of bailing on the lease before its termination date.   Leasing works very well for some people...it can make a lot of sense if you're looking to minimize cash flow to have a desired vehcile.   Cars are a depreciating asset, unless its a Shelby Cobra. Replies to this message: bmb33 (Dec 03, 2006 11:40 pm) Car_man (Jan 04, 2007 4:55 am) bobw3 (Jan 04, 2007 3:42 pm) hbodu (Feb 10, 2007 11:59 am)
#13 of 45 Residuals by amrie May 19, 2006 (5:49 am)
One dealer I'm negotiating with said that the 12K residual values for the Fit Sport AT are 36=$9749, 48=$8095. These are through Honda Finance, I think.
#14 of 45 Honda Finance by flightnurse May 23, 2006 (10:21 pm)
I stopped by one of the local Honda Dealers to look at the Fit, liked what I saw... Spoke to the Finance Manager (that is what I was told) about leasing a Fit Sport not too sure if i want to the Auto or Manuel. My average Credit score is 622, I'm rebuilding, haven't been late on any payments for 2+ yrs, all but student loans are paid off, and they are $150/m, I was wondering if Honda would finance me in a lease?? I'm looking for the lowest payment for 3 yrs in a car tht wont cost me much to use. What do you people think ??   Tony Replies to this message: Car_man (May 25, 2006 1:41 am)
#15 of 45 Re: Honda Fit: Lease Questions [pcat1] by Car_man HOST May 24, 2006 (4:31 am)
Replying to: pcat1 (May 08, 2006 4:27 am) Hi pcat1. Sixty months is way too long to lease a vehicle for. A lot can happen during the course of five years to make you need to get out of your vehicle and it is often very expensive to get out of leases early. Let's say that your family expands and you need a larger vehicle, or perhaps you just don't find the Fit comfortable after driving it for a while, or your commute changes causing you to go way over your mileage allowance, etc... You would be much better off leasing this car for 36 to 39 months. You absolutely cannot get out of a Honda Finance lease after three years for free. While it is possible that you would be able to get out of a lease early if your vehicle is worth significantly more than it would cost to purchase on the open market, this scenario is unlikely.   Car_man Host Smart Shopper / Prices Paid Forums
#16 of 45 Re: Anyone Leased Yet? [rjw1] by Car_man HOST May 24, 2006 (4:36 am)
Replying to: rjw1 (May 15, 2006 11:21 am) Greetings rjw1. As one would expect with a brand new model, Honda is not currently providing any sort of lease support on the Fit. As a result, if you were to lease one through Honda Finance right now, you would have to use its standard lease program. Its current buy rate standard lease money factor for 36 month leases is .00270 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. I believe that Honda Finance's current 36 month, 15,000 mile per year residual value for a base 2007 Fit is 57%.   Car_man Host Smart Shopper / Prices Paid Forums
#17 of 45 Re: Honda Finance [flightnurse] by Car_man HOST May 25, 2006 (1:41 am)
Replying to: flightnurse (May 23, 2006 10:21 pm) Hi Tony. Even though your credit score is a little low, you probably will still be able to lease a new vehicle through Honda Finance. You won't qualify for its top credit tier, but a score of 622 would put you in its "Standard" aka third tier.   Car_man Host Smart Shopper / Prices Paid Forums
#18 of 45 Why not judge a lease on $/month? by psharpe May 28, 2006 (1:47 am)
Why not judge a Fit lease on the basis of $/month? All else equal, such as no money down, 12,000 miles per year, and 36 month term, same model Fit etc.   If that is the case; $0 down, 36 months, 12,000 miles per year; what are you paying for a Sport Auto?   Thanks, PWS Replies to this message: Car_man (Jun 14, 2006 2:25 am)
#19 of 45 Re: Why not judge a lease on $/month? [psharpe] by Car_man HOST Jun 14, 2006 (2:25 am)
Replying to: psharpe (May 28, 2006 1:47 am) Hi PWS. There are so many aspects of deals that dealers can manipulate, the easiest way to get a good deal on a lease is to negotiate the lowest possible selling price on the car that you want, just as if you were financing or paying cash for it, and then have the dealer calculate its lease payment using its captive finance company's buy rate lease money factor. Since the money factor and selling price are the two main profit centers for dealers on leases, negotiating this way almost assures consumers of getting a good deal.   Car_man Host Prices Paid Forums
#20 of 45 Honda Fit Lease Numbers by mrcheap666 Jul 11, 2006 (10:12 am)
Hey Car_man,    I wanted to get the MF and residuals for leasing the Honda Fit Sport model or the Fit Base model, with automatic transmission.    I'm in Houston, TX and would need a lease for 24mths, with 15,000 miles/year.    Thanks MrCheap666 Replies to this message: Car_man (Aug 27, 2006 8:01 am)

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