Honda launches “The Really Big Thing Sales Event” incentive… and it’s pretty big

Honda, which is normally known for being light with incentives, has launched a major leasing and financing campaign that will run through May 3.

Known as the “The Really Big Thing Sales Event,” the incentive offers no money down and no security deposit on all Honda passenger cars and truck leases. For example, you can lease a 2010 Honda Accord Sedan LX for $250 a month for 36 months and pay nothing at signing (excluding tax, titles and dealer fees).

The incentive offering is a response to the $395 million Toyota is spending on incentives this month. However, according to Jesse Toprak, vice president for industry trends and insights for consultancy TrueCar Inc., Honda’s expense on incentives is “not a dramatic increase” from last March. Honda is spending a total of $204, according to TrueCar estimates.

“It might appear that Honda is going wild with incentives on the surface,” Toprak 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.”

– By: Omar Rana

Source: Automotive News (Subscription Required)