Last post on Jun 26, 2013 at 3:01 PM
You are in the Honda Fit
What is this discussion about?
Honda Fit, Car Leasing, Car Buying, Hatchback
#25 of 73 Re: Lease? DON'T. [bmb33]
Feb 10, 2007 (11:59 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 73 Re: Honda Fit: Lease Questions [Car_man]
Mar 19, 2007 (10:45 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 73 Re: Honda Fit: Lease Questions [gustavonetto]
Apr 05, 2007 (2:26 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%.
Prices Paid Forum
#28 of 73 Does it make sense to lease for 18 months?
Jul 27, 2007 (1:41 pm)
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 73 Re: Does it make sense to lease for 18 months? [newcarny]
Oct 03, 2007 (2:21 am)
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.
Prices Paid: Buying & Leasing Experiences Forum
Oct 03, 2007 (11:38 am)
A reporter with a large finance magazine is hoping to talk to consumers who just purchased or looking to purchase a more fuel-efficient car for their daily commute. Please reply to ctalatiedmunds.com no later than Monday, October 8, 2007 with your daytime contact info.
#31 of 73 info on 2008 sport AT
Oct 14, 2007 (8:25 am)
I'm looking for the money factor and residual on a 2008 fit sport AT. MSRP is 16705, with no extra sealer options. I'm interested in a 36 or 48 month term with 12k miles/year.
#32 of 73 Re: info on 2008 sport AT [anti2]
Nov 15, 2007 (3:03 am)
Greetings anti2. Here is the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Fit Sport with 12,000 miles per year are .00270 and 57%, respectively for consumers who qualify for its top credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 48 month lease are .00255 and 48%.
Prices Paid: Buying & Leasing Experiences Forum
#33 of 73 Fit Lease money factor and residual?
Jan 10, 2008 (7:12 pm)
I'm hoping to find out the current 36 month money factor and residual for a fit sport AT.
Would like to do a 36 month 10-12k mile lease. What should I expect out the door?
#34 of 73 Re: Fit Lease money factor and residual? [mr2freak]
Jan 10, 2008 (8:01 pm)
Honda has no trouble selling Fits, so they have no lease specials on them. As CarMan posted the standard lease rate is a whopping 0.00270 or higher on them. You can get a better rate (but a lower residual) through a 3rd party lease bank via your dealer or online at www.leasecompare.com or any other lease broker.
The car just does not lease well due to a low (relative) residual and the high MF. Right not you could probably lease a Pilot, Odyssey, Element, Ridgeline or even a Civic for less per month than a Fit sport would cost you. If you just have to have a fit, then I would just buy it. Check the lease "specials" online at Honda and they will show good deals (which you can make better by negotiating a lower price) on all the models and nothing for the Fit.