Honda Serious About Leasing
Amercian car manufacturers have backed off leasing, either getting out altogether (GM and Chrysler) or seriously cutting back (Ford).
They’ve lost so much money in the last few years due to over-estimating lease-end residuals that they can’t afford to continue.
However, foreign carmakers haven’t been hurt as badly and are taking advantage of the situation. If you’ve seen Honda’s commercials on TV they are reminding viewers that they are still leasing and have great deals.
In fact, Honda has sweetened the pot by putting some outstanding lease deals on many of their models, including the Accord, CR-V, Civic, Odyssey, and Pilot. The deals range from a low $149 a month on a Civic DX-VP sedan, to $199 a month on an Accord LX sedan, to $239 on a CR-V, to $269 on the popular Odyssey minivan, and $299 on a Honda Pilot LX SUV.
Most of these deals require upfront cash for down payment, first month’s payment, and fees. However Honda is also offering alternative deals on all the above models that have higher monthly payments but only require upfront cash equal to a single monthly payment. Wow.
When these deals are analyzed, we find that not only have prices been reduced, but customers are also getting very good lease-end residuals and low money factors (finance rates).
If you like the car model and it’s options, and you like the payment, you just can’t go wrong with a Honda.
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