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Honda Fit Lease Questions

71 messages,  Last post on Dec 28, 2012 at 7:54 AM

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

Messages Page 3 of 8

#20 of 71 Honda Fit Lease Numbers by mrcheap666

Jul 11, 2006 (11:12 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

#21 of 71 Re: Honda Fit Lease Numbers [mrcheap666] by Car_man HOST

Aug 27, 2006 (9:01 am)

Replying to: mrcheap666 (Jul 11, 2006 11:12 am)
Hello MrCheap666. 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 money factors. Honda Finance's current buy rate standard lease money factor for 24 month leases is an unattractive .00398. This is equivalent to an interest rate of around 9.6%. You would be much better off leasing this car for 36 months. Its buy rate standard factor for that term is a much more reasonable .00293. Honda Finance's 24 and 36 month, 15,000 mile per year residual values for the '07 Fit are currently 64% and 56%, respectively.
 
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#22 of 71 Re: Lease? DON'T. [jimmy5150] by bmb33

Dec 04, 2006 (12:40 am)

Replying to: jimmy5150 (May 18, 2006 10:27 am)
hi
 
I am also considering to lease a honda fit because I might need a car for no more than two years. with information on the internet and different suggestions from friends, I am now so confused. Which way is better, to lease one or to buy one then sell it? Is lease kind of similar to having a car loan? Thank you for your help.

#23 of 71 Re: Lease? DON'T. [bmb33] by Car_man HOST

Jan 04, 2007 (5:55 am)

Replying to: bmb33 (Dec 04, 2006 12:40 am)
Hi bmb33. Sometimes leasing makes more sense than buying if a manufacturer is providing lease support but no other special promotions on the vehicle that you want. BMWs are often an example of this. Unfortunately, Honda is not currently providing any lease support on the Fit. As a result, if you were to lease one through Honda Finance, you would have to use its standard lease program which is nothing great. There's nothing wrong with leasing this car. Theoretically one would come out about the same if they had leased it for two years or financed it and sold it at the end of two years. So whether you want to lease or buy is more a matter of personal preference than anything.
 
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#24 of 71 Re: Lease? DON'T. [Car_man] by bobw3

Jan 04, 2007 (4:42 pm)

Replying to: Car_man (Jan 04, 2007 5:55 am)
as long as you keep the miles low.

#25 of 71 Re: Lease? DON'T. [bmb33] by hbodu

Feb 10, 2007 (12:59 pm)

Replying to: bmb33 (Dec 04, 2006 12:40 am)
If you only are needing the car for 2 years, I would lean towards leasing it. If you get a 60 month loan, you would probably be upside down in the loan 2 years. You would not have the trouble or expense on a private sale (remember, in 2 years the redesigned Fit might be available). At the end of 2 years, you would owe nothing (provided no excess damage or miles).

#26 of 71 Re: Honda Fit: Lease Questions [Car_man] by gustavonetto

Mar 19, 2007 (11:45 am)

Replying to: Car_man (May 03, 2006 2:46 am)
I got an offer for a Honda Fit sport AT for $15,900. My credit score is above 740 but even them the dealer is saying that Honda isn't lowering its APR. He's asking for 7.7%? I think it's too high? anybody could give a peace of advice? Thanks, Guga

#27 of 71 Re: Honda Fit: Lease Questions [gustavonetto] by Car_man HOST

Apr 05, 2007 (3:26 am)

Replying to: gustavonetto (Mar 19, 2007 11:45 am)
Hi Guga. Honda is not currently providing any special financing rates on the 2007 Fit. You really would be better off getting pre-approved to finance this car on your own by a local bank, credit union, or a bank that conducts business on-line before going back to the dealer. Getting pre-approved to finance this car serves two purposes. One it gives you an idea of what sort of interest rate you qualify for and two it often motivates dealers to try to beat the rate that you already have. With your credit score, you should be able to do better than 7.7%.
 
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#28 of 71 Does it make sense to lease for 18 months? by newcarny

Jul 27, 2007 (2:41 pm)

Hi,
 
I am moving out of NYC for 18 months and need a car, but most likely the car will just be a pain in the neck if I bring it back to the city after that. I like the Honda FIT and think I'd rather be driving a new car than a junker.
 
Is it possible to lease for 18 months, and if so, does it make sense? Would I be able to lease with the option to buy?
 
 

#29 of 71 Re: Does it make sense to lease for 18 months? [newcarny] by Car_man HOST

Oct 03, 2007 (3:21 am)

Replying to: newcarny (Jul 27, 2007 2:41 pm)
Hi newcarny. Unfortunately I believe that 24 months is the shortest term that Honda Finance leases vehicles for. to be honest with you, it will be expensive to drive a brand new car for only 18 months regardless of whether you purchase or lease it. New vehicles experience their highest rate of depreciation during the first year of ownership. You may want to consider purchasing a used vehicle and driving it around until you need to go back to the city. By going used you can avoid that nasty huge initial depreciation hit.
 
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Messages Page 3 of 8

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