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Honda Accord Crosstour Lease Questions

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Comments

  • jj316jj316 Posts: 24
    Got quoted a price with nav $339 per month 36 months just tax 339 and 595 bank fee.upfront. 12k per year.
  • cliffpozcliffpoz Posts: 51
    can you tell me where you got this great deal. I was quoted over $100 more?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi lfa1. The easiest way for me to evaluate specific leases is to look at the selling prices that were used to calculate their payments. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how large a dealer discount one is being given and in turn if there is any room left to negotiate.

    Let us know what this vehicle's selling price is and I'm sure that either myself or another helpful community member will gladly let you know what they think.

    Car_man
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  • datographdatograph Posts: 4
    Car_man, I am looking at an EX-L, 2WD, with Nav on a 3yr lease with 15k miles per year (in Los Angeles, CA). Can you post current money factor and residual? Many thanks.

    datograph
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi datograph. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Crosstour EX-L 2WD with Navigation and 15,000 miles per year are .00158 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • datographdatograph Posts: 4
    Many thanks for the quick reply, Car_man. That's a big help.

    Regards,

    datograph
  • wtalbotwtalbot Posts: 14
    I haven't seen anyone bring up the lease offer from Honda on a 2010 EX 2WD, $309.00 per month, 36 months, $2299.00 total payment due at signing.

    I am trading in a 2007 Honda Accord EX-L Coupe lease for a new one.

    A couple questions.....
    Is there an easy way for me to firgure out the deal with less money down or if I wanted to add leather or nav?
    Is there anything I need to watch for on the trade in? Can they rip me off somehow?
  • Hello Car_man,

    Thanks for taking the time to answer all the questions you have been given. It is a great help. I just leased a 2010 Crosstour EX-L (no nav or real time awd). Under AHFC tier 1, what would be the approx. payment for sign and drive 36-12000 at invoice? 6% michigan sales tax, transfer plates. I have a feeling I am going to hate your answer as I thought I got a great deal. I believe they may have hidden extra finance charges (jacked the money factor up). My cap cost seemed correct. Finally, if you are in the business, what rights do I have to rescind? I just purchased Sat. night and they were shoving me into the car. He told me he was into hold back. I am paying $429 with tax but includes wheel locks, mud guards, and cargo tray (probably $300 in items). I greatly appreciate your response! Thanks again!!
  • wtalbotwtalbot Posts: 14
    I have been reading back in this thread and have noticed the lease prices all over the place. To try and simply this, could you possibly list the money factor and residual for the 2010 EX, EX-L, and EX-L w/ Nav all 2WD, 36 month. That should cover all 2 WD's. Is there a place to find these numbers or do we just ask for them here? Which one or both of the numbers change if you move from 12k to 15k miles? When figuring the down payment can you just divide it by 36 months and thats how much it affects the payment?
  • peterson6peterson6 Posts: 5
    Hi car man,

    i got a quote from honda dealer at Orange county, CA.

    2WD EX L with navi .
    36 mo, 15K per year, no down, DMV fee only, 477/mo w/o tax (orange county, CA).
    Any input will be helpful, thanks a lot!
  • datographdatograph Posts: 4
    peterson6, for comparison, in Los Angeles County, at the beginning of June, I got the same lease, same car. My payment is 499 per month, all in, including tax. For some reason, they could not make it work unless I paid $172 cap cost reduction. I agreed in a weak moment!

    I'm not sure if the money factor or residual has changed since then. Mine was exactly as car_man indicated in his reply to my earlier post.

    We've really enjoyed the car, by the way.

    Good luck.
  • peterson6peterson6 Posts: 5
    Thanks a lot.. Would you mind if i asked you about dealer's info? thanks datopraph..
  • datographdatograph Posts: 4
    Not at all, peterson6. It was Keyes Honda in Woodland Hills.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, datograph.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi wtalbot. I'd be happy to work up a zero down lease on the vehicle that you are interested in. Let's do a zero down lease with a selling price of $500 over dealer invoice and see what we come up with.

    According to my calculations, if you were to lease a 2010 Accord Crosstour EX 2WD that has an MSRP of $30,380 and a selling price of 28,096 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $332, assuming that you qualify for its top aka "Super Preferred" credit tier.

    I find that keeping the value of your trade separate from the selling price of your new vehicle makes things more transparent and prevents the dealer from tricking you by playing with the numbers.

    Besides, it is in your best interest to put as little money down as possible when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of them if their vehicle is totaled or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you're safer going with a zero down lease.

    You can still trade in your current vehicle when you lease a new one, just have the dealer cut you a check for any equity that you have in it rather than applying the proceeds to your lease.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, hondamax19. Let's work up a payment on this vehicle and see what we come up with. For now I will assume a selling price of $500 over dealer invoice.

    According to my calculations, if you were to lease a 2010 Honda Accord Crosstour EX-L 2WD without navigation that has an MSRP of $33,280 and a selling price of 30,716 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $397. I rolled the acquisition fee into this payment, but it does not include sales tax or the options that you mentioned.

    The good news is that you don't have to hate me ;) because your payment is in the right neighborhood.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello wtalbot. Here's the information that you're looking for.

    Honda Finance's current buy rate lease money factor for the 2010 Accord Crosstour is .00158 for all trim levels for consumers who qualify for its top aka "Super Preferred" credit tier.

    The 36 month, 15,000 mile per year residual values for the trim levels that you are interested in are as follows: 60% for the EX 2WD, 58% for the EX-L 2WD, and 56% for the EX-L 2WD with Navigation.

    If you were to lease with only 12,000 miles per year, these vehicles' residual values would be 2% higher.

    The following article describes how the addition of a down payment impacts vehicles' lease payments: Calculate Your Own Lease Payment. Having said that, it's always safer for consumers to go with zero down leases. Consumers who make large down payments on leases risk losing part or all of that money if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi peterson6. The easiest way for me to evaluate this deal is to look at this vehicle's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is more difficult to tell how large a dealer discount you are being given, and in turn whether there is any room left to negotiate.

    Let us know what this Crosstour's selling price is and I'm sure that either myself or another helpful community member will gladly give you their opinion on your deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • This community has been invaluable over the last few weeks as I have been car shopping. This weekend I went into my local (north NJ) Honda dealer to test drive a Crosstour and I fell in love. I still had 1 month left on my Lexus so I told my salesperson that I would only deal if he was willing to cut me a check for my last payment.

    With minimal back and forth on price he made me a deal I could not refuse and I am still trying to find out where the catch is...

    I picked up an 2010 Crosstour EX-L without NAVI for $459.00 a month 36 Months.
    I paid $550 up front for 1st month and some of the doc fees, but they are sending me a check for $550 to cover my last payment on the Lexus.

    So overall 35 payments of $459.00 for a $34K car that kicks the pants off my Lexus in terms of room, comfort, gadgets and functionality.

    Is this just a good deal or am I missing something?
  • I got a quote:
    Honda Crosstour, w/o navigation.
    $ 415, out of pocket $1,600 (Bank, DMV, 1st month)
    36 months, 12,00 miles.
    Brooklyn, NY. Class leasing.
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