For the past two years, financiers have pulled back on leasing as residual value losses skyrocketed, in some cases to the tune of $10,000 or more per vehicle.
Late last year, some manufacturers returned to the sector, vowing to stick to conservative leases on higher-priced models.
Well, it looks some OEMs are feeling the pressure of slower sales. Toyota sweetened lease deals last month to lure consumers back after multiple recalls. And now Honda is stepping up efforts to drive lease volume. Check out the details of Honda’s latest lease program:
Consumers could lease a Honda Civic for $159 a month, with no down payment, no security deposit, no first month’s payment, and nothing due at lease signing.
Other 2010 models included in the lease incentive program, which ends May 3: the Accord, Accord Crosstour, CR-V, Element, Fit, Insight, Odyssey, Pilot, and Ridgeline.
Sounds to me like aggressive leasing is back.