I apologize if this is the wrong forum, but its where I know the most people. mods feel free to move it if need be.

I'm in the process of buying a new car, probably an accord, and was told about a program they offer, honda smart buy or something. The salesman didn't explain it very well, and I was in kind of a rush ( just wanted to see the car and leave ). I guess its somewhat of a lease to buy option, but according to the salesman it wasn't a lease. I was searching around on Honda's site but couldn't find anything either. I know some poepl here work at Honda, hoping you guys could help me out, tell me if its legit or not, what its all about

Thanks in advance...sorry if it sound like a dumb question

 

You suck at teh internet. Try google. This site has a good explanation.
http://www.coeinc.org/AllSections/auto.htm

Smart Buy is NOT a lease. It is a financing option with a BALOON PAYMENT at the end.

I did this on the R, 4 years of payments, because I could get a better interest rate. They expect to screw you because you can't afford the 10K baloon at the end, and they get the car back and resell it and make money. Plus they charge you **** like return fees and maybe you end up buying a new car with them in the process.

Instead, I took their $300 monthly payment, made it $600, and paid extra sometimes and got it paid off in 3 years. With a little math you can figure out how much to pay to avoid the baloon.

-Chris