Hello,
I'm new to this forum and Honda in general. I kinda need your help so I don't overpay 😃.
I'm going to lease a Blue, 2017 EX-L, CVT with Navi and remote engine start. I built it online and it came out to $21,764.
What should I expect to pay for it? I don't want to pay msrp but also don't want to insult the dealer. What would be a realistic number to ask the dealer to discount it to?

Thanks in advance!

 

$20k is what you'd expect to pay for a 2017 EX-L... If you were to buy it... Newest and feature-filled.
I personally do not believe in leasing. In my mind, everyday a car depreciates in value, right? So why wouldn't your leasing payments reflect that by a few cents/dollars? By the end of the lease, you could be overpaying by alot in those last few months. my2cent.

Trust me, your not going to insult them if you low-ball it though. They want to make the sell, so your just setting their expectations on how much wiggle room you/they have. If that's way out of their ball park they will be like "Well, we can't do that, so lets find you something in that price range".

 

Thanks for the help and the 2 cents 😃.
I have my own reasons for leasing but I appreciate your input.
So there is about 7%~8% markup in these cars? That's it?

 

The dealer would tell you markup is like 500 bucks.

 

From a honda dealer near me (Dallas) for a Blue 2017 Honda Fit EX-L as an example of what you are looking at, hope it helps:

MSRP:$22,100
Savings:$500
Vandergriff Price:$21,600
Est. Lease:$226/mo**
Est. Finance:$286/mo*

** Estimated monthly lease payments: This offer is available only to qualified customers with a credit score of 800 or above, at participating local dealers by American Honda Finance Corp. through 04/30/2017. Advertised lease rate based on 36 months, $2,000 due at lease signing, $595 acquisition fee, including the gross capitalized cost of $22,695. Excludes title, taxes, registration, license fees, insurance, dealer prep. and additional options. Total monthly payments equal $8,124. Cash due at signing includes $1,774 capitalized cost reduction, a required security deposit of $0, and first month's lease payment of $226. $0.15 charge per mile over 12,000 miles per year. See your local dealer for complete details on this and other offers.




It's ok, I like leasers like you. Makes the car alot cheaper the next year for very low mileage.

 

Ahahaha. Right on the money with that example I just provided.

 

Having worked in the auto industry at the OEM level I can tell you low dollar cars have what I consider little markup. While it's probably more than $500, I would guess it's not over $1200 on a $16-20K car. Now a $40K car it's probably $4K at minimum? Mazda actually stopped importing the Mazda 2 because there wasn't enough profit in the class.


No 2 for You! U.S. Won't Get New Mazda 2 Subcompact ? News ? Car and Driver | Car and Driver Blog

 

https://www.truecar.com/#/

BTW: Personally I'd by an Civic in LX or Sport trim before I'd buy an EX-L Fit. IMO for the almost $22K you want to spend on the Fit you can buy allot nicer of a car. Just use the GPS on your smart phone and forget the Nav. It's going to give up to date information.

 

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Using the numbers as a base, you'd still be paying about $298 a month to have that lease over 36 months. You have to put $2000 down, plus $595 acquisition fee and the $8124 lease fees. $10719 total divided by 36 months equals $297.75

Never understood leases unless it's a tax write off but that's just me.

Agree with the poster that mentions leaving off navigation. Waze or Google maps is more up to date and with real time traffic info and routing. The integrated navigation you have to pay to update periodically. Even a Garmin with free lifetime updates can be bought for about $100.

 

Thank you all for your input. Keep it coming.
I *am* in Texas (Austin).
The civic can't fit a massage table 😃 and I do enjoy driving (autocross, track days etc.).
Also, i can't commit to anything so leasing a car for 3 years works for me.
I'm leasing my 2014 BMW 335i m-sport and it's up on March 31st. Paying only $573 mo. for 39 months, 10k a year with zero money down.
$300 mon. for a 22k car sounds like a lot 😔.
But just to verify again, you think that if I get $1200 off my $21,700 msrp i'll be getting an awesome deal?

 

Use true car and see what it says for where you live.


Here's the link:

https://www.truecar.com/#/

 

Thanks, i checked...it shows +$92 *over* msrp, so unfortunately i think it's irrelevant in my case.
Also, I read that dealerships have become more sophisticated now. They know people want to see and purchase at invoice price so they have no problem sharing it. Where the true dealer cost is even lower than that...

maybe it's time to show off guys? 🤓 How much of a discount did you get on your Fit?

 

Most credit unions have autobrokers that will handle the whole thing for you,, My credit union on leases is consistently about 5% under the dealers.. YMMV

 

I didn't know they provide such a service. They do that on leases too? I thought all leases go through the manufacturer (BMW financial services, Honda financial etc.) no?

 

My credit union will even lease a USED car to you.. (Has to be a basically certified car but still...)

Yea I HATE talking to car dealers,, slimy A$$$$$$$ Once I did the CU thing I'll never go back, even if its a extra few hundred the lower hassle factor is worth it to me..

 

You do realize what anyone else pays doesn't matter? It's what dealers in your area are willing to sell it to you for that matters. I don't care what internet research you bring in or pictures of sales paperwork that others have paid, if you can't find any dealer in YOUR area willing to sell for that it's useless. At least that's how it works in Chicago. They will tell you to go buy it there and show you the door. That leaves finding another dealer within reasonable driving distance that will discount more and drive it back. Another option is use eBay or another car buying website and find your price. That might mean you need to fly and drive back? That's not practical on a low end entry level model with little markup. Now if you were buying a $70K Corvette that might be relevant?

I paid $865 less than MSRP on a 17 manual LX. According to True Car I received an exceptional price. I also had to drive 1.5 hours from my house to buy it. IDK if I could have bought it cheaper, but I wasn't going to make a career out of shopping for a car for a couple hundred bucks. I work too many hours and my time off and spending time with my family is more valuable.

FWIW: I bought my car over the phone. Started with local dealers internet price as a starting point. Called dealers and asked for sales. Told them what model I wanted and asked for their best price. If they asked if I received pricing from anyone else I said it wasn't relevant. Told them figure out pricing and call me back. I informed them if the number seemed reasonable I'd give my credit card number and put $500 deposit and pick up on the weekend. Some calls were obviously a waste of my time and received internet pricing or higher. The dealer I bought it from was $200 cheaper than any other price I had received. I asked the salesman to text me photos of the window sticker and car which he did. I called back and gave my credit card info and put a deposit on the car. Easy 4 hours and done. You do have to be serious and willing to commit that day if you try something like what I did

 

This was very helpful.
Thank you!

Anyone else tried something similar?

 

Honda is running a sales event over in Jersey $139/month for leasing a 2017 Fit.

 

Thanks!
How much out of pocket though? Or as they call it - "due at signing"
12k a year for 36 months?

 

ah i wasnt really paying attention. just kept thinking to myself, this is the first time they are really advertising the Fit and have a promo for it. must be poor sales or excess inventory.