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Discussion Starter · #1 ·
I am starting a new thread on the Honda Future Value Finance.

The attractions of this are:

* Lower interest rate - 6.8% vs. 7.3%
* Lower payments for the plan period than the normla financing.
* No annual mileage limitations
* Lower end of program residual
* You own the vehicle
* You can lump-sum pay off the vehicle at any time.

The detriments of the plan:

* At at the end of the plan you must pay off the residual - eiter sell the vehicle or buy it out. There is no option to walk away from it.

Iskie
 

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You really support this finance plan...don't you! I dunno...Is there a commission in it for you... :wink: LOL...I'm just kidding. I wish I could finance, but I am a low KM driver and leasing is so much more attractive to me...And it's lower monthly payments!
 

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Discussion Starter · #3 ·
The lease does make sense if you kilo's are going to be low. On my S-10, I choose to get 20K kilo's annually for the lease. Shortly after getting the lease 3 years ago, I switched to a sales job and am now at just below 72K. I may be able to get out of paying for the overmileage as the truck in in great condition and it has a hard tonneau cover and a spare set of tires that I am turning in as well.

I work on software sales, btw. But I do have the Canadian banks as my clients.

Iskie
 

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The car I am trading in is currently financed. The problem is I am in the 2nd of a 4 year payment plan. When I saw the E, I knew I had to have it...But lo and behold, I had quite a large lien on my vehicle. I traded it in and broke even, but if I had been in a lease, I feel I might have been further ahead. Especially since my vehicle has low KM's.
 

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Discussion Starter · #5 ·
Sorry to say, but the dealer does not give you much more on a trade-in with a low km. You're more likely to get a higher value by a private sale, but then you have all of that hassle.

Iskie
 

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That's what confuses me. From what the dealer explained, the tax from your trade in can be applied to your purchase, whereas if you sell privately, you are responsible for the tax payments...I was a little confused. I was too busy dreaming about my first new car...and it's an E, so it made my starry eyes even worse! :D

BTW, have any Canadians heard an update on the supply situation? I ordered on Feb. 10th and I am still hoping for mid-March delivery on my SOP E. I think colour may make a difference too...Not sure though. The dealer told me yesterday it's coming straight from Japan. I thought they were maufactured in Ohio....

:?:
 

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That's what confuses me. From what the dealer explained, the tax from your trade in can be applied to your purchase, whereas if you sell privately, you are responsible for the tax payments...I was a little confused. I was too busy dreaming about my first new car...and it's an E, so it made my starry eyes even worse! :D

BTW, have any Canadians heard an update on the supply situation? I ordered on Feb. 10th and I am still hoping for mid-March delivery on my SOP E. I think colour may make a difference too...Not sure though. The dealer told me yesterday it's coming straight from Japan. I thought they were maufactured in Ohio....

:?:
 
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