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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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#7 of 45 Re: honda fit lease [pcat1] by makabe May 10, 2006 (6:44 pm)
Replying to: pcat1 (May 10, 2006 2:15 pm) Based on your numbers, and assuming $1000 down, the residual should be no more than $5391. (15200+tax, lic, title-$1000=$16000 financed) If it is more than that, then they are either charging you higher interest or not applying your down payment properly or charging more for the car. One other important thing to note: if you don't exercise your option to buy at the end of the lease, you walk away from any equity you may have in the vehicle. If you do decide to buy at lease end, you'll still owe $5391.   Leases are really tricky--you can get totally screwed at lease end with nickel and dime charges. Be very, very careful.
#8 of 45 Re: Honda fit lease [johnnyvj] by pcat1 May 11, 2006 (4:17 am)
Replying to: johnnyvj (May 10, 2006 5:09 pm) Ok. I was also thinking maybe I should purchase, since I am going for a 60 month lease, it might be better to purchase. And this web site has the MSRP for the Fit as $14650. He is quoting $15,200. Should I make him come down the MSRP price, whether I buy or lease? Replies to this message: makabe (May 11, 2006 9:05 am)
#9 of 45 Re: Honda fit lease [pcat1] by makabe May 11, 2006 (9:05 am)
Replying to: pcat1 (May 11, 2006 4:17 am) His price is MSRP + $550 delivery = $15200. Delivery is a totally standard charge. Documentation fees however are not standard and range from $50 to $500. Go for it. My gut tells me they are going to try and stick it to you on the interest rate--I've not seen lower than 5.5% on loans lately.
#10 of 45 Anyone Leased Yet? by rjw1 May 15, 2006 (11:21 am)
I am hoping to do a 36 mo lease on a FIT sport AT for 15k miles/year.   Does anyone know what the top tier money factor should be for the FIT? Replies to this message: Car_man (May 24, 2006 4:36 am)
#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

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