One Pay Lease and Up Front Costs

To get correct information about your insurance question, you may want to ask an insurance company (or a few). It’s probaby unusual to make a one time lease payment?

Your cost seems like one of those “If it’s too good to be true........” kind of things. Others on here have been reporting big year end discounts and you’re talking about $13,100 off the MSRP of the Touring, with Honda taking the credits and discounts. Wow!

 

Are you referring to a prepaid lease? I am not familiar with how this works. Can you please explain?

 

I asked about this when buying my car and they said it wasn't offered, because I too was wondering how well it would work out and for more details on it. But for anyone not sure what the OP is talking about:

https://www.hondafinancialservices.com/leasing/one-pay-lease

 

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If you do a one pay....don’t pay off the residual until the end of 3 years.... that way the Gap Insurance is included because it is still under the lease contract.


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Thank you. I had heard that prepay lease was the most cost effective way to purchase solar panels. Not sure why more people aren't talking about this.

 

Wow thats an awesome deal. Dont let it slip away. But i don't think gap insurance covers you because Honda is the owner not you. This is how my contract read. If the car is totaled Honda gets all payments fron the insurance company and they can lease you another car. Because you are essentially renting the car to own.

 

I wish I had read this thread before I purchased my car. I didn't consider the lease because I looked at leases in the past and they didn't fit my circumstances. This is a lesson that both lease terms and circumstances may change, and every day is a new day.

 

I was in the market for an accord hybrid when i leased the Clarity. Electricity is very cheap for me and i really haven't seen an increase on my electric bill after charging my car for about 6 months now. Im averaging about 77 mpg. Significantly better than any hybrid. I drove a camry hybrid before and the clarity was definately an upgrade for me. Much of my driving is about 90 percent ev. My long road trips pull the overall average down. So i would only consider another hybrid if i was traveling longer trips continuously.

 

The Accord hybrid is the same powertrain with a different battery, it is not more poweful. Edit: bad info, Accord Hybrid is a bit faster and has a larger gas engine.

100 miles driving per charging opportunity will still favor the Clarity, plus if you are eligible for tax incentives the Clarity will likely be cheaper than the Accord.

I suspect you would save around 0.5 to 1 gallons per day in the Clarity. My guess is cost tradeoff for fuel for the two cars is around 150 to 200 miles per charging opportunity, but I haven't calculated for Clarity specifically.

Both are great cars though.

 

Sorry, I was wrong. You are right, Accord has 2.0 L, but both advertise 212 HP, I think the Clarity gets more power from the battery so the engine in the Accord is a bit more powerful to compensate.

 

And testing puts it faster than the Clarity (MotorTrend has it at 6.7 sec vs their time for Clarity of 7.5 sec), so yes, Accord Hybrid will be faster. Sorry about the bad info.

 

I think in actual practice the two will feel similar, I think only reason Accord is faster is weight. 1/4 mile times are fairly close. The transmission is the same power split transmission, with direct overdrive or eCVT modes. My hunch is the Accord has a more powerful generator to compensate for its lack of battery power.

 

Well if power is the the main issue get a tesla model x with ludicrous speed. With all upgrades around 160k $. I dont find myself racing around much even in my v8 truck wich is quite fast. I am very pleased with the 212 hp and 232 ft pounds of torque on the clarity. That is plenty of power for passing and such. The main issue with the clarity is a slight learning curve on drive mode selection and having realistic expectations of a phev. I personally have zero regrets.

 

Tax calculations are a pain, but this is interesting. Financing details and Insurance will play into it in important and convoluted manners, but on the surface, given that (married filing jointly with standard deduction — again, details matter) you need a gross income of at least $89k to reap the full benefit of the federal tax credit, this is a way to get these vehicles in the hands of more consumers.