Hello! Need feedback for a deal for a leased fit!
 

Hello! First ever post for me on here. Have been lurking the forums for a week or two now.

I would like your opinions on a deal that's about to go down for me tomorrow!

I am currently exactly 1 year into a lease on a 2012 Honda Civic LX. The deal for this was $500 down with $223/mo. for 36 months.

I went in to Honda to inquire about swapping the lease on the Civic for a new lease on a Fit. It's the base model, white (TW is what you guys call it here?), and manual transmission. After 2 days of haggling, we reached a deal of $0 down and $245/mo.

I'm scheduled to go in tomorrow to shake hands on the deal so that they can have the car brought in from a different dealership.

SHOULD I DO IT?!?!? AHHHHH!!!!

Thank you guys!

for how many months? if 24, not bad. if 36, not great. if 48 forget it. if 60 LOL!!

it would be for 36 months.

edit: I am from Los Angeles if that makes any difference.

How many miles are you allowed under the lease? How do they do sales tax in California on lease vehicles? New york they require sales tax all up front.

Not a fan of leases myself but the price doesn't seem bad for renting a new car.

Unless it is for a business (tax deductible), I don't EVER recommend leasing a car. I don't want to discuss financial particulars on a public forum, but you wouldn't believe how cheaply I just got the exact model of Fit you are talking about. Buying NEW right now seems to be the way to go, if you can, since so few people can afford new.

Of course, I recognize that isn't really an option for you...you either stay with your current lease or move to a new lease. Now matter how good a lease deal looks, though, I guarantee you the lease company is coming out on top. If they are making a 'deal' with you, they are smiling all the way to the bank.

Kev

I believe it's allowed 1,000 miles a month, and sales tax in CA rose to 9% this year. On my last lease the $223 was the flat fee per month.

I'm thinking this is a good deal considering that I do not want to purchase the Civic after the 3 year lease is up, but I would seriously consider purchasing the Fit after its lease is up.

Thanks for your guys' feedback! It is much appreciated! At this rate it looks like I'm going to be shaking hands on it tomorrow afternoon. *super excited but trying not to show it*

I hear that, Kev. The most I would be able to put down towards a new car purchase is about $1,000 at the moment. (I am aware of how ridiculously little that is).

Do you think that it would make sense to purchase a new Fit with those numbers? I would only be able to do $300/mo. payments max.

Just sent you a PM! Check your inbox.

Kev