12-20-2013, 01:18 AM
I've never leased a car nor do I have any interest in leasing one, but that seems like either a bait-and-switch or a RYF.
I looked up the cost of a new Civic LX on Turecar and it looks like you could get one for around $16,700 before T&L. If the residual price is $14,233, that means the depreciation is around $2500. I don't understand how the total payments, $2646, can be less than the depreciation. So even ignoring the capital costs, it seems like they are losing money.
Seems you are missing a digit in front of the $98/mo or a scam to me. $2500 depreciation over 27 months seems awfully low. I know Hondas hold their value well, but who would buy a 2+ year old honda with 20k miles for 85% the cost of a new one?
Maybe someone who is familiar with leasing can enlighten me.
I looked up the cost of a new Civic LX on Turecar and it looks like you could get one for around $16,700 before T&L. If the residual price is $14,233, that means the depreciation is around $2500. I don't understand how the total payments, $2646, can be less than the depreciation. So even ignoring the capital costs, it seems like they are losing money.
Seems you are missing a digit in front of the $98/mo or a scam to me. $2500 depreciation over 27 months seems awfully low. I know Hondas hold their value well, but who would buy a 2+ year old honda with 20k miles for 85% the cost of a new one?
Maybe someone who is familiar with leasing can enlighten me.