As expected, Honda has brought down the residuals for the month of November. There has been a drop in money factor as well on select models, with the Pilot getting the most significant drop (from .00155 to .00022) Expect the numbers to remain the same through the remainder for the year. The Holiday Leasing Season has officially begun!
Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.
2013 HONDA CR-V 4WD EX-L AT
MSRP – $29575
Sale Price – $27600
Monthly – $344+ tax
RWG Rating – 86.8
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2013 HONDA ACCORD COUPE EX-L V6
36 Month – Residual 56% of MSRP – .00155 Base Rate
2013 HONDA ACCORD SEDAN EX-L V6
36 Month – Residual 58% of MSRP – .00155 Base Rate
2012 HONDA CIVIC COUPE EX AT
36 Month – Residual 54% of MSRP – .00054 Base Rate
2012 HONDA CIVIC SEDAN EX AT
36 Month – Residual 57% of MSRP – .00054 Base Rate
2013 HONDA CR-V 4WD EX-L AT
36 Month – Residual 60% of MSRP – .00155 Base Rate
2012 HONDA CR-Z EX AT
36 Month – Residual 57% of MSRP – .00155 Base Rate
2012 HONDA CROSSTOUR 4WD EX-L
36 Month – Residual 48% of MSRP – .00020 Base Rate
2013 HONDA FIT SPORT HATCHBACK AT
36 Month – Residual 60% of MSRP – .00155 Base Rate
2013 HONDA INSIGHT EX
36 Month – Residual 62% of MSRP – .00155 Base Rate
2013 HONDA ODYSSEY EX-L AT
36 Month – Residual 53% of MSRP – .00155 Base Rate
2013 HONDA PILOT 4WD EX-L
36 Month – Residual 54% of MSRP – .00022 Base Rate
2013 HONDA RIDGELINE RTL
36 Month – Residual 54% of MSRP – .00155 Base Rate
Update: Like many manufacturers, Honda numbers don’t seem to have changed from July. I am also suspecting that their Acura cousins’ rates are probably the same as last month as well. That’s good news for me because it saves me a lot of work. Haahaa. That’s also good news for you since the numbers aren’t half back. Availability of the 2010 models might be a bit scarce, but if you get lucky, I think you can swing a good deal. Last month, the Accord made Top Ten on the Round-Up so expect more of the same this month.
My Take: Who wasn’t to overpay for a Honda Insight? Not you. Residual might be high, but the money factor isn’t very attractive. Of course, with a reasonably low price tag and high residual, the payments may very well remain “reasonable” despite the higher money factor. I still think it looks too much like a Prius, which prompts me to ask this question…Why get an a wannabe Prius, when you can just get the Prius?