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Honda Fit: Lease Questions

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

You are in the Honda Fit Forum.

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

Messages Page 6 of 8

#42 of 71 09 Honda Fit Lease by leetchie69

Aug 17, 2009 (1:15 pm)

Replying to: movingsale45 (Sep 02, 2008 12:14 pm)
No posts in almost a year?
 
Has the leasing forum moved or something?
 
Has anyone leased a Honda Fit recently? Is there any support for it?
 
Current MF/Resid?

#43 of 71 Re: 09 Honda Fit Lease [leetchie69] by Car_man HOST

Aug 25, 2009 (3:18 am)

Replying to: leetchie69 (Aug 17, 2009 1:15 pm)
Hi leetchie69. 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 money factor. Its current buy rate standard lease money factor for 36 month leases is .00285. I would be happy to provide you with the residual values for this car if you tell me exactly what trim level you want.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#44 of 71 Re: 09 Honda Fit Lease [Car_man] by leetchie69

Aug 25, 2009 (8:48 pm)

Replying to: Car_man (Aug 25, 2009 3:18 am)
Hi Car_man,
 
It would be for a Honda Fit Sport w/o Navigation

#45 of 71 Re: 09 Honda Fit Lease [leetchie69] by Car_man HOST

Sep 04, 2009 (3:41 am)

Replying to: leetchie69 (Aug 25, 2009 8:48 pm)
Thanks for the additional information, leetchie69. Through September 8th, Honda Finance's 36 month, 15,000 mile per year residual value for a 2009 Fit Sport with Navigation is 56%.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#46 of 71 2010 Honda Fit lease support question by pjp9543

Aug 05, 2010 (9:39 am)

Hello, Car_man--
 
Honda recently began offering "Closed-end lease for 2010 Fit 5 Speed Automatic (Model GE8H2AEW) for $210.00 per month for 36 months with a no capitalized cost reduction available to customers who qualify. . . ." It's here: http://tiny.cc/6f1hh
 
They also offer a "Closed-end lease for 2010 Fit 5 Speed Automatic (Model GE8H2AEW) for $149.00 per month for 36 months with a $2,250.00 capitalized cost reduction available to customers who qualify. . . ." I would qualify for either package.
 
I've never leased before--so I'm educating myself about the ins/out (although I do know some parts of leasing and terminology). These terms seem acceptable. I know this is a general question, but do you have advice to offer? Which deal is "better?" We would prefer the manual transmission sport model--would dealers deal?
 
They also offer financing at 0.9. Less preferable, we would likely not buy a new car outright. Any thoughts are welcome. If too general a question, thanks for reading. I'm in western MA.
 
PJP

#47 of 71 Re: 2010 Honda Fit lease support question [pjp9543] by accordguy0325

Aug 09, 2010 (4:58 pm)

Replying to: pjp9543 (Aug 05, 2010 9:39 am)
Hello
 
I hope you don't mind my weighing in but I just leased a 2010 Fit Sport and figured I may be of some help on the subject (or so I hope).
 
I noted your question " Which deal is "better?" in regards to whether putting money down is better than not doing so. I think the less money you put down on a lease the better.
 
As Honda ultimately owns the car during your lease, I think putting zero down is a better deal for you and your checkbook. One scenario I just recently became aware of is, suppose you put a few grand down and total the car in 6 months from now - or its stolen... The money you put down is NOT recoverable as gap insurance only covers what you owe to Honda on the lease and its residual value.
 
My 2010 Fit Sport automatic with only taxes, title, and registration down is 239.00 a month. A Fit Sport with a manual should be between the base auto and sport auto in terms of money payment (maybe around 225-230 ?).
 
I'd do a search of some local dealers and find which ones have sport manuals in stock and head on down to make a deal. Virtually any/every car can be leased !
 
Good luck !

#48 of 71 Re: 2010 Honda Fit lease support question [pjp9543] by Car_man HOST

Sep 17, 2010 (4:46 am)

Replying to: pjp9543 (Aug 05, 2010 9:39 am)
Welcome to the wonderful world of leasing pjp9543. Since you are new to it, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
 
In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.
 
As official Honda advertisements, both of the leases that you referenced are reasonable. However, most automakers' official advertised payments usually leave a little meat on the bone so to speak. I wouldn't be surprised if you were able to beat the selling prices that either of these deals is based upon by a couple hundred dollars if you are in an area that has a decent level of competition.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#49 of 71 MF and residual percent for Nov by space_pilot

Nov 02, 2010 (8:40 am)

Hi Car_man!
 
Do you have the MF and residual percentages for a base manual Fit and sport manual Fit for november?
 
I have to lease a car this month and was hoping that Honda was still providing good incentives on this car.
 
Thanks so much!

#50 of 71 Re: MF and residual percent for Nov [space_pilot] by Car_man HOST

Nov 10, 2010 (7:01 pm)

Replying to: space_pilot (Nov 02, 2010 8:40 am)
Greetings space_pilot. I certainly do.
 
Honda Finance's November buy rate lease money factor and residual value for a 36 month lease of a base 2010 Fit with 15,000 miles per year are .00033 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#51 of 71 Is this a good lease deal? by ellie137

Nov 14, 2010 (3:53 pm)

The dealer offered us the following lease package for the 2010 Honda Fit:
$1999 cap cost
$ 595 acquisition fee
$ 93 monthly fee
$ 329 documents fee
$ 125 registration
 
Then, $93/mo for 3 years, and the option to purchase at 60% MSRP.
 
Is this a good deal? We are in Massachusetts.

Messages Page 6 of 8

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