Forum Thread

Advice on car lease deal

5 10 February 3, 2019 at 09:20 AM
Deal
Score
0
1,981 Views

Thread Details

0 Deal Score
1,981 Views
Hi friendly people of SlickDeals,

I have been offered a car lease for a new Honda Civic Sedan Sport for just under $250 including all taxes, for 24 months, 12000 miles a year, $0 down. Is this a good deal do you know? I read something about there being amazing deals in March, but I don't know how reliable this is. Would really appreciate the advice. Thank you! Apologies if this is in the wrong place - I'm new to this.

8 Comments

1

Sign up for a Slickdeals account to remove this ad.

This comment has been rated as unhelpful by Slickdeals users
Joined Jun 2005
Let Sleeping Dogs Lie
6,756 Posts
2,595 Reputation
#2
Depends upon a few things is it a closed or open ended lease? Does it include gap insurance. Do they actually have a car you can buy for that and you have looked at the options and think it is a good fit for you?
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Jan 2019
New User
5 Posts
10 Reputation
Original Poster
#3
Quote from komondor
:
Depends upon a few things is it a closed or open ended lease? Does it include gap insurance. Do they actually have a car you can buy for that and you have looked at the options and think it is a good fit for you?
Thank you for the reply. They showed me the car, it's pretty decent, not necessarily perfect, but will definitely do for our needs. Had android auto. Don't think it included gap insurance. It was a fairly flexible lease he said, whatever that means.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2010
L1: Learner
24 Posts
10 Reputation
#4
You should get the actual selling price of the car, the money factor (basically the interest rate used in lease payment), residual value, cap cost reduction, acquisition fee, and end of lease turn charge. Multiply the money factor by 2400 to get the interest rate. Find a lease calculator and enter all the info into it to validate the quoted lease payment to be sure they are not adding other fees. Also are you trading in a car as part of the deal? That needs to be part of the lease calculation. I leased a 2018 accord last year for under $250/mth, 0 down, no trade in for 36 months. But interest rates have risen so payments will be more unless the interest is subsidized by Honda.
Reply Helpful Comment? 1 0
This comment has been rated as unhelpful by Slickdeals users
Joined Oct 2008
L8: Grand Teacher
3,982 Posts
573 Reputation
#5
I am not a fan for lease cars,but to me that sounds like an amazing deal compared to mine. I got my Honda Civic touring just last year out the door for around $27k (purchase). If its just 250 for 24 months no down no other hidden fees I think honestly your getting a a good deal. To also add if you drive 12k or less than ya its a good deal in my book.
Reply Helpful Comment? 1 0
just being slick
This comment has been rated as unhelpful by Slickdeals users
Joined Jan 2019
New User
5 Posts
10 Reputation
Original Poster
#6
Really appreciate the advice. I'm very new to all this, so it's incredibly helpful. Thank you! I'm not trading in and I reckon I'll be doing less than 12k miles a year, so that part isn't a problem for me. I generally would buy a car, but I'm not looking to spend more than a few thousand outright, and that doesn't seem to get you much here if you buy.
Reply Helpful Comment? 0 0
Last edited by TheWole February 12, 2019 at 06:54 PM.
This comment has been rated as unhelpful by Slickdeals users
Joined Apr 2008
FW Expatriot
5,994 Posts
88 Reputation
#7
It sounds like a good deal coming from Honda and that's the car you want to lease. Also, it's shorter term (2 years), so that's nice.

Can you do better? Maybe. Is it worth the hunt? Dunno.

https://leasehackr.com/blog/2019/...and-0-down


I just saw an advertisement for a Mazda 6 Sport, 0 due at signing, $259 per month for 36 months. (taxes and fees apply, so it's a bit more than $259 but not too far off.)
Reply Helpful Comment? 0 0
Last edited by LandoCalrissian February 14, 2019 at 07:39 PM.
This comment has been rated as unhelpful by Slickdeals users
Joined Nov 2019
New User
1 Posts
10 Reputation
#8
Hello, first time user here on this website. Hello, I am desperately want to sort out my bad car lease of a 2018 Toyota Rav4 LE trim, silver color. I want to get this bad lease agreement I made in December 2018. My monthly payment is $453. Each year is 12,000 miles limit. I have until February 2022 to out of this lease. I had made three deferrals due to financial stress. My current miles over 16,600 miles. What is my best option at this point? Please someone here who is familiar with car leasing tell me. Thank you any serious advices much appreciated.
Reply Helpful Comment? 0 0

Sign up for a Slickdeals account to remove this ad.

This comment has been rated as unhelpful by Slickdeals users
Joined Jan 2007
Free hugs!
12,960 Posts
767 Reputation
Global Mod
#9
Quote from GreenSeagull2723
:
Hello, first time user here on this website. Hello, I am desperately want to sort out my bad car lease of a 2018 Toyota Rav4 LE trim, silver color. I want to get this bad lease agreement I made in December 2018. My monthly payment is $453. Each year is 12,000 miles limit. I have until February 2022 to out of this lease. I had made three deferrals due to financial stress. My current miles over 16,600 miles. What is my best option at this point? Please someone here who is familiar with car leasing tell me. Thank you any serious advices much appreciated.
Only marketplaces I know are leasetrader.com and swaplease.com. Taking a quick look, you have a lot of competition, and quite a few at ~$300/month or so.

I'm a bit familiar with leasing, but that time has passed for you. Familiar with how to get a good lease doesn't help a year after you lease. Look at your statement, see what current payoff is. Then, check what trade value is. If trade value is higher, or same...problem solved mostly. Other than the huge unknown of what you actually owe...anyone like me is just guessing.
Reply Helpful Comment? 0 0
Page 1 of 1
1
Join the Conversation
Add a Comment
 
Link Copied to Clipboard