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Latest Honda Lease Money Rate?

Can anyone tell me the latest Honda Lease money factor for California (if different) and excellent credit?
I've been quoted .31 which equates to 7.44%
Pat
 

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Re: Latest Honda Lease Money Rate?

pdempsey said:
Can anyone tell me the latest Honda Lease money factor for California (if different) and excellent credit?
I've been quoted .31 which equates to 7.44%
Pat
Pat, I think they're marking up the money on you, and by quite a bit. I leased an MDX right at the beginning of April (in California, at Stevens Creek Acura in San Jose), FICO scores all over 730 (that's the line, I've read, for Honda's "super-preferred" rate). Dealer quoted me .0026 for 42 or 48 months in late March but when we did the paperwork in April, it got written at .0025. (This impressed me, that they passed along the lower rate--must have dropped in April--and didn't just rely on their quote from a week or two prior and pocket the difference). The rate for 36 months was a touch higher, but nowhere near 7.44%, more like 6.7% or so as I recall. (.0028 for 36 months sticks in my mind but I dont' have those notes any more).

It's weird, Honda loans have higher rates for longer periods, but the lease rates were the reverse. I had them quote me 36, 42, and 48 months, and went with 42 just to get the lower rate.

One thing I did, since I hate unnecessary "hard pulls" of my credit report, is went online at myfico.com and pulled my three scores ahead of time. When I requested the quotes from the dealer, I told them I didn't want an inquiry until we had a deal, but gave them my three scores for quoting purposes. Worked fine, cost me $45 to do it this way. I also liked knowing the answer going in, sometimes a mistake you don't know about might be lowering your score, or one bureau might have a lower score than the others due to slightly different information. It also avoids the dealer being able to argue that some late payment 6.5 years ago or whatever means they have to charge you more or whatever the tactic dujour is.

Best,
Bruce
 

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