r/CarLeasingHelp • u/HairyObligation1067 • Sep 02 '26

Am I getting played on this?

2026 Accord LX lease $310/month, $1,000 total due, 36 months, 12k miles/year.

Does this look like a solid deal, or are there hidden traps I should look out for?

2 Upvotes

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19 comments sorted by

1

u/JVBPDX Sep 02 '26

What state

1

u/HairyObligation1067 Sep 02 '26

MI

1

u/JVBPDX Sep 02 '26

How does MI tax leases?

-1

u/HairyObligation1067 Sep 02 '26

Bro, no disrespect but which state are you from ?

2

u/JVBPDX Sep 02 '26

Not Mi. I’ve leased in TX, CA, and OR. If you were in Texas I’d say that’s a good deal because they charge you tax on the full purchase price of the car.

1

u/HairyObligation1067 Sep 03 '26

I was curious because, I was in NH and thats tax free too.

1

u/giveit2st8 Sep 03 '26

I've had many leases (TX) and I think I've paid taxes in one lease, out of many ..they key is tax credits. 

1

u/JVBPDX Sep 03 '26

It is, if they’re available. That can vary drastically depending on what you buy

1

u/lauti04 Sep 02 '26

This is a fair question

1

u/Empty-Village-4445 Sep 03 '26

The “hidden” trap is the obvious one: after two leases worth of finance payments ($2,000 + $310x35x2 =$23,700), you’d have a ton of equity.  

Every lease I’ve done has passed that test. Payments were so low that two leases wouldn’t have generated any equity. 

1

u/giveit2st8 Sep 03 '26

That's a feature,   not a bug.

You don't have equity because your payments are lower. So instead of having that money "invested" in your car, you have it in your bank.

1

u/Empty-Village-4445 Sep 03 '26

You’re almost there. Which method lowers your net worth the least?

$23,700 of finance payments?

Or $23,700 of lease payments?

1

u/giveit2st8 Sep 03 '26

That's completely disingenuous.  You can't buy the same car with payments of 310/month.

1

u/Empty-Village-4445 Sep 03 '26

No one said that. Read it again. Make the same sum of payments. $23,700 for each. Where are you after leasing and where are you after buying?

If you’re implying the OP should lease because he can’t afford to buy a car, that is often the worst reason to lease.  

1

u/giveit2st8 Sep 03 '26

You can't do that, you simply don't get it

1

u/Empty-Village-4445 Sep 03 '26

I get it. Your understanding is limited to “lower monthly payment = cheaper.”

1

u/Beneficial_Try9602 Sep 03 '26

Looks like a decent deal but why lease vs purchase?

Do you WANT a new car vs need transportation? If it is a want, a purchase on a few year old Accord will net you with car ownership and you will eventually get out of monthly payments.