Price paid

Discussion in 'Clarity' started by JKroll, Feb 16, 2018.

  1. 4sallypat

    4sallypat Active Member

    Southern California deal:
    I just picked up my new 2018 Clarity base and leased it on 1/1/19.

    Got $10,650 off MSRP on the $34,295 base car down to $23,650.
    Plus I get the $1500 State rebate in about 90 days and the $1000 utility company rebate check in about 90 days.
    Lease payment: $310 / month including 9.5% tax.


    Instead of waiting till the end of the year to claim the $7500 tax credit, my accountant said it's better to get the credit immediately and then plan on buying out the car at the end of the lease where the residual contract says $14K.
     
  2. JustAnotherPoorDriver

    JustAnotherPoorDriver Active Member

    If you have a bag, that contains the charger (unless you just meant the plastic shrink wrap on the tire inflator). The tire inflator is a box, and it's inset into the side panel in the trunk. The straps are meant to hold down the charger bag (perhaps).

    Wish we had more tie downs...

     
    Last edited: Jan 3, 2019
  3. JulianClarity

    JulianClarity Active Member

    Crystal clear to me, and we were on the same page, thank you again.
     
  4. izudin

    izudin Member

    When you lease the Federal tax credit can be only claimed by the leasing company. They already incorporated it into the purchase price, it is why you have such difference between MSRP and price your lease is based on.
    I leased Touring (MSRP=$37495) with sale price of $24648. My lease is 36 months with $215+tax monthly payment and residual value of $15000. I am also getting $2500 MA credit, which is not available any more after 1/1/2019.
     
    Clarity850 likes this.
  5. Clarity850

    Clarity850 New Member

    The Federal credit tax near 7500 * 9~10%, and the residual value tax.
    That save many tax than finance and pay by cash, that is great!
     
  6. Ram1234

    Ram1234 New Member

    Is sale price $34648 or $
    24648 ?



    Sent from my iPhone using Inside EVs
     
  7. 4sallypat

    4sallypat Active Member

    The sale price is amazing when you lease a Clarity PHEV in California - about $10,000 below MSRP.

    Here was my deal:
    MSRP: $34,295
    Selling Price: $23,650
    Monthly Payment: $310 including 9.5% tax
    Cash Due at Signing: $1300
    MSD: none
    Incentives: $7600 Honda incentive + $500 State employee (HP Q31A) + dealer discount

    Months: 36
    Annual Mileage: 12,000
    MF: 0.00047
    Residual:42%

    Honda Care negotiated down from $1050 to $435 - includes all oil changes, tire replacements, in home visit for TPMS issues, and road side assistance.

    Post sales rebates:
    CA CVRP rebate $1500
    SCE utility rebate $1000
    *
    CA HOV carpool stickers are worth it's weight in gold!

    We intend to buy out the car at the end of the lease as the RV was so low, it makes sense.
     
  8. izudin

    izudin Member

    Sale price was $24648.
    Toyota had deal for base model lease at $209/month and I told them I will pay $215 but want Touring and they obliged.
    I paid $3500 cash, which includes dealer fees, registration and title.
     
    Ram1234 likes this.
  9. ab13

    ab13 Active Member

    Seems like a lease isn't a bad way to get the car, with the low residual value at the end you can buy it for. Main limit seems to be the yearly milage.
     
  10. dnb

    dnb Active Member

    I think what he meant was it was a better deal to get that credit up front (reduced price) than wait for a "refund". Thats also why I leased, made sure I got the "credit" since it comes out of the total leasing cost up front.
     
    4sallypat likes this.
  11. Cali65

    Cali65 Member

    Congratulations!!
    Can you help me understand the numbers here....I have never leased, so not trying to dog on your deal, just want to understand.

    I purchased my Base model:
    $32,708.55 otd
    $ 766.05 0.9% 60 months $0 down
    -$ 7,500.00 Fed taxes back
    $25,974.60 Total before the CA CVRP & SCE rebates.

    Based on your numbers leasing it would have been:
    $11,160 ($310 x 36)
    $ 1,300 downpayment
    $15,330 RV ($14k + 9.5% tax)
    $$27,790 Total without the CA CVRP & SCE rebates.

    Also, $500 more for me since I would not get the State Employee discount.

    Did I understand you numbers right?
     
  12. dnb

    dnb Active Member

    You still qualify for other rebates if you lease, just not the Fed Tax credit.
     
  13. 4sallypat

    4sallypat Active Member

    Close, if I compare to yours, I would be $980 less than your calculation due to the $500 employee + $480 Honda care maintenance.
    Plus, I get to deduct on my federal taxes, the monthly lease for my small business I have.

    So all in all, the monies are about the same - leasing vs. financing within $1K ?
     
  14. zaggie

    zaggie New Member

    I paid $34,699 for my touring model in Northern Indiana. So that was $2,791 off the MSRP. I did it by getting a Chicago area dealership to quote me that price, then I bought locally. Sales tax extra, of course, but I refused to pay the documentation fee or any extras. Had to walk out when they wouldn't waive the doc fee, but they called me later that day to complete the original deal.
     
  15. dnb

    dnb Active Member

    Yep I had the same kinda realization, plus if the car has major issues or there is an even better version we can "upgrade" to it instead and not have to worry about reselling it (or can if we want to buy it out and sell it).

    I much prefer the ~$300-400 cheaper monthly payment too and no need to wait to get the money back.
     
  16. 4sallypat

    4sallypat Active Member

    Leasing is great way to "test drive" for 3 years and find out if you want to own it at the end.

    My most recent car was the Land Rover Discovery Sport and found after 3 years of driving her - I wanted nothing to do with LR product.

    So here I am test driving the Clarity for the next 3 years and since the contracted residual value is set, I can decide at the end of 3 years (based on reliability, quality of service, and glitches) whether it's worth keeping or not. Just not sure about the new model and new EV drive system.

    Leasing is a great way to pay down the depreciation, get an immediate tax incentive and to find out if the car is worth keeping.

    Past history with Honda - loved them all and only financed or bought them outright - very reliable and a very good value keeper.

    Just not convinced about the Clarity...
     
  17. insightman

    insightman Well-Known Member

    It will be very interesting to see what Clarity PHEV's are selling for in 3 years. If the used Clarity prices follow the Nissan Leaf curve, Honda will find themselves owning a lot of off-lease Claritys. I'm not suggesting the Clarity and Leaf are equivalent, but the question of battery longevity will affect the perceived value of any electrified car.
     
  18. dnb

    dnb Active Member


    Yep with how fast the PHEV tech is changing (and hey in 3 years it might be ready for all electric) I figured renting first would be a good option :). I'm digging my Clarity so far though, just wish Solar was cheap to install in CA :D
     
  19. ab13

    ab13 Active Member


    The buy price after lease is low. About the same as an Accord LX. If you see the lease details, "Option to purchase at lease end $14,060.95" For the base model.

    https://www.hondafinancialservices.com/SHOPPING-TOOLS/CURRENT-OFFERS?ZIP=11435
     
  20. Agzand

    Agzand Member

    Another factor to consider with purchase you use the subsidized APR on entire value, with lease once you are done you have to pay either cash or take a used car loan at 3-4 percent APR. Even if you pay cash you could have used that cash to pay mortgage or invest or other high interest use. So unless you have cash sitting around doing nothing, you need to factor in the interest on that $14k, which will end up being another $1000 dollar or so.

    Sometimes lease makes sense, as for business expense or you just need a low mileage car for a few years, but it is usually end up being more expensive than purchase if you compare long-term.
     
    Last edited: Jan 9, 2019

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