Angular Front Exterior View - 2010 Honda Civic Coupe 2-door Man EXEnlarge Photo
Steering Wheel - 2010 Honda Civic Coupe 2-door Man EXEnlarge Photo
According to Automotive News Honda is spending an estimated $204 million on incentives this month. To give some contrast to that number, Toyota is said to be spending $395 million on incentives. That number is probably high given the problems Toyota has been battling with their extensive recalls. Even if it appears that Honda is spending a lot more in incentives they claim that it is the market that is allowing them to do it. “It might appear that Honda is going wild with incentives on the surface,” Jesse Toprak, vice president of industry trends and insights for TrueCar Inc., said. “However, the upfront cash spent is minimal. Due to the low cost of money, and the improved used car market, the actual cost of special leases has gone down substantially.”
Bottom line—if you are in the market for Honda and don’t shy away from a lease then now is the time to buy.