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2014 Honda Accord Lease Questions

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  • mziamzia Posts: 4
    @nyccarguy: I basically sent them a pdf of the Weymouth Honda lease calculator and told them to stick to it.

    Basically I plan to return the car at lease end so I know that I have to deal with lease end fees. Pardon me for my incomplete information, but as its first time leasing do I still have to worry about the sell price as I have no plans of buying it out?
    Lease is for 36 months 12k miles per year money factor of 0.000063 as the same from Weymouth Honda quote.
    I have three dealers working on this. Question is that if they agree to 330 per month including tax should I go for it? Thanks for helping
  • nyccarguynyccarguy Stamford, CTPosts: 7,770

    @mzia

    Yes you still have to worry about the selling price of the car because that it what the "capitalized cost" of the lease is. Whether you are buying or leasing, this price matters. If the "capitalized cost" or selling price of the vehicle is higher, then your monthly lease payment will be higher.

    @kyfdx is .000063 the base money factor for a 2014 Accord EXL?

    Once you have the selling price of the car correct & are certain your money factor isn't getting marked up, then you know you are getting the right deal.

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • mziamzia Posts: 4
    Now my question would be that if they have already given me a sign and drive for 340 which is like 12 dollars above the Weymouth Honda price doesn't that mean I'm pretty close to the Weymouth sale price
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,924
    edited January 25

    Mzia,

    Yes you are correct. Tell your dealer to match Weymouth's monthly price and i will lease vehicle from them . Remember every state has a different tax rate so your OTD pricing will be higher or lower than others.. Your main objective when leasing is lowest sale price of vehicle then having dealer appling the right residual, and money factor on your lease term/ w miles..

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • mziamzia Posts: 4
    Thank you so much for all the help his @brian125 and @nyccarguy !!!

    Signed the deal on a 2014 Accord EX L
    0 due at signing. 35 payments of $330 a month including tax. Sale price of car $25,233.02 + acquisition fee of $595 + wheel locks $149 + dealer fees $699.95 giving a total of $26,676.97.
    Residual $16,606.99 money factor 0.00063

    Now the dealer contribution was $705.17 which covered registration fee $200, sales tax $9.92, tag agency $98.75, first month payment $330, FL fees $66.50.

    . They basically even beat Weymouth Honda prices which I had been struggling all week with all dealers ... Weymouth sales price is $26,991.90 and residual is $16,959.25.


    The process was the smoothest experience ever. The phone call lasted 3 minutes with a 8 second call back to come pick up the car at the price I wanted and once I reached the dealer, the process took 34 minutes ! They took an extra half hour to detail then. Overall I'm satisfied with the service !!!
    Again thanks all !!!
  • nyccarguynyccarguy Stamford, CTPosts: 7,770

    @mzia

    Mazel-Tov & congrats on your new Accord! Enjoy! You are welcome!

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • jpljpl Posts: 35

    Hi: Live on Long Island, have 7 weeks left on 11 EX-L-Accord Lease, want next car to have Factory Installed Remote, how hard is it to find in dealer inventory, & if I order car my way, does that affect price, as opposed to dealers inventory??? Thanks, JL

  • kyfdxkyfdx Posts: 29,837

    Do you mean remote start? I believe all of those are installed at the dealer.

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  • dcanes41dcanes41 Posts: 11

    Hi CarMan,

    It was recommended to contact you in regards to my offer from my local Honda dealership here in Northeast Pennsylvania:

    For a 2014 Accord EX: $268/month for 35 months (includes tax)

    Negotiated Purchase Price:$22,900

    Residual: $15,600

    Accessories Included: Car Mats, Mud Guards, Remote Engine Start System II (Installed)

    They did mention they included any flex cash they had left since we are close to the end of the month. I would need to come up with the first payment of $268.00 + Title transfer/tags (Guesstimate an additional $170.00). So total due would be $438.00.

    Thank you, Dave

  • dcanes41dcanes41 Posts: 11

    Note: The EX model is a CVT Automatic with an MSRP of $26,470.00 with a negotiated price of $22,900.

    @dcanes41 said: Hi CarMan,

    It was recommended to contact you in regards to my offer from my local Honda dealership here in Northeast Pennsylvania:

    For a 2014 Accord EX: $268/month for 35 months (includes tax)

    Negotiated Purchase Price:$22,900

    Residual: $15,600

    Accessories Included: Car Mats, Mud Guards, Remote Engine Start System II (Installed)

    They did mention they included any flex cash they had left since we are close to the end of the month. I would need to come up with the first payment of $268.00 + Title transfer/tags (Guesstimate an additional $170.00). So total due would be $438.00.

    Thank you, Dave

  • kyfdxkyfdx Posts: 29,837

    That looks pretty good from here... PA tax on leases is 9%, so if that includes tax, then it's very reasonable..

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  • dcanes41dcanes41 Posts: 11

    Thank you for your response. I asked them to include the remote starter as a deal breaker :). I am coming from a 2011 Accord EX-L and will be losing XM radio, heated seats, etc., but the leather doesn't really matter. The price of $345/month tax in for the EX-L was a little steep.

  • What is the standard lease MF and RV for EX-L 4 and 6 cylinder in Atlanta, GA right now?

  • kyfdxkyfdx Posts: 29,837

    @dawgtired said: What is the standard lease MF and RV for EX-L 4 and 6 cylinder in Atlanta, GA right now?

    36mo, 15K/yr lease

    EX-L 4: 55% residual

    EX-L V6: 54% residual

    .00116 MF for Georgia for either model.

    MODERATOR
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  • Kyfdx, Thanks!

  • I have a 2012 Accord SE, my lease is coming due in Sept of 2014. My lease was 3/36k and as of now I am at 33500 miles as I took a job and commute 100mi/day. I will obviously be over my 36k for my current lease, does it make sense to turn it in and re-lease or to buy outright now then trade and purchase?

  • kyfdxkyfdx Posts: 29,837

    A lot of those answers are going to be based on your current payoff and current wholesale value of the vehicle. You can probably get your best deal if you trade it in to a Honda dealer, though you should be ready for some negative equity.

    At 500 miles/week, I don't think I would lease again....

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  • I live in NE and local dealer may not give me any deal based on my past experiences with them. I work in Omaha and there are 3-4 dealers there that I know are more willing so I will look into what they can do for me. I do not plan to lease again although I am trying to get back to my town to avoid the 500mi/week on my car.

    Thanks for the input @kyfdx@Edmunds

  • brian125brian125 New york / S.C. myrtle beachPosts: 2,924

    Try Honda cars of boston and Weymouth honda for pricing..

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • Hello,

    I'm at the end of my 3/36 Toyota Prius lease with a residual value of $14800.

    I'm being offered 3/36 on an Accord Sport priced at $23700, $270 a month after 9% tax, and the residual will be mid $14k.

    He says I'll have $0 out of pocket because he is going to try and squeeze enough equity out of the Prius.

    Is this possible? We want to make a decision this weekend.

    Thanks.

  • kyfdxkyfdx Posts: 29,837

    If they take your Prius in trade, rather than you turning it in, and the wholesale value is more than the payoff, then that could certainly happen.

    MODERATOR
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  • jaykitjaykit Posts: 2

    @nyccarguy said: jaykit

    Lease termination fees or disposition fees are non negotiable. Usually they get waived if you finance or lease another car through the same back (American Honda Finance in this case).

    Congrats on your new Accord. Tell us what you think of the V6. Is there any particular reason you chose it over the 4 cylinder?

    Sorry for the late reply. Love the V6. Smooth linear power. This car is quick too, mid to high 5 secs 0-60. You can feel the extra weight on front axle but it is acceptable to me. Will be adding a TL SH sway bar soon and will be set. I had a 12' Civic Si sedan so did not want to go back to the K24 but w/ a CVT. I can't take those things. Also needed a bigger car (toddler) and needed an auto so she can drive if needed. My commute to work is 4 miles so mpg was not a crushing concern. The V6 EX-L fit this bill. My wife has a 13' RDX w/ the same J35 VCM powertrain and was happy w/ it. Will consider a 4 cyl in the Accord if they add the turbo in the next few years.

  • nt7001nt7001 Posts: 5

    kyfdx - Do you have the MF and residual percentages for the 4cyl and 6cyl EX-L in Cincinnati? Thanks.

  • kyfdxkyfdx Posts: 29,837

    @nt7001 said: kyfdx - Do you have the MF and residual percentages for the 4cyl and 6cyl EX-L in Cincinnati? Thanks.

    .00073 MF and 55% residual for 36mo, 15K/yr lease on EX-L. Subtract 1% for V6 EX-L.

    $350 lease cash on this model for Ohio residents. Which dealers are you shopping in Cincinnati?

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  • Looking for residual and money factor for EX-L 4 Cyl at both 15,000 and 18,000 miles.

    Thank you in advance,

    Lee

  • kyfdxkyfdx Posts: 29,837

    @dontburnearl said: Looking for residual and money factor for EX-L 4 Cyl at both 15,000 and 18,000 miles.

    Thank you in advance,

    Lee

    .00073 MF and 55% residual for 36mo, 15K/yr lease on EX-L. Honda doesn't offer an 18K/yr residual. It is a per mile residual deduction for the extra 9K miles.

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  • I am working with a dealer in the Baltimore area on a 36 mo, 12K mi/yr lease on an EX-L V-6 w/Navi, and I am being quoted a residual of 54% and a MF of .00116. Residual seems right, but the MF seems a little off from what I have seen on here. Can anyone confirm please? Thanks.

  • nt7001nt7001 Posts: 5

    @kyfdx@Edmunds said: $350 lease cash on this model for Ohio residents. Which dealers are you shopping in Cincinnati?

    It looks like the residual for 12K miles is 59% on the EX-L. Is that correct? If so, would that mean the V6 residual for 12K miles is 58%?

    I'm looking at all dealers in Cincy.

  • kyfdxkyfdx Posts: 29,837

    @klatulip said: I am working with a dealer in the Baltimore area on a 36 mo, 12K mi/yr lease on an EX-L V-6 w/Navi, and I am being quoted a residual of 54% and a MF of .00116. Residual seems right, but the MF seems a little off from what I have seen on here. Can anyone confirm please? Thanks.

    Unfortunately, MD is a Region B state, and the MF is indeed .00116. 54% is the correct residual for an EX-L V6 w/NAV for 36mo, 12K/yr lease.

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  • kyfdxkyfdx Posts: 29,837

    @nt7001 said:

    The 36 month, 12K/yr lease on the EX-L is 57%. The V6 EX-L residual is 56%.

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