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2014 Honda Accord Lease Questions

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  • The invoice was 22,125. Then they added the taxes and dealer fees to get the car back to a total cost of 25,000 or so and then created my lease from that. For some reason they did not take the 2,000 down payment, nor the $500 grad incentive off of the cap reduction? Did they screw my lease up on purpose?

  • glatglat Posts: 2

    Jason:

    My sister just leased a 2014 Accord Sport and put her old car up as trade. They gave her 2100 on the trade and her payment is 247 I think (she did not want to negotiate, this was their second offer). This is in Cincinnati, Ohio.

    I just leased the EX with 2500 down and my payment is an even 200/month... I had two dealers going at it too.

  • All,

    Just wanted to thank everyone here for their help especially brian, kfdx, etc. The people in this forum are all very helpful.

    I closed on a lease deal today. Was my first lease ever. Always purchased, but no lease. But since interest rates are low enough, it seems a good hedge if a) I do not like long term to keep this version or b) maybe I move to different place and better to return the car.

    Not my best deal on anything but I had some especial considerations unique to me that I just have to live with it. For one, my Dec 30th shopping day just went out the window (personal reasons). So I had to go make a run this afternoon with the top 2 deals on hand.

    My single biggest factor for decision is sales price. Monthly or all that different angles are not important for my case. I just needed a lease that is not outrageously more expensive than purchase. And something that will hedge my gas usage on my AWD CRV. My credit score is top tier though, so YMMV:

    1) 2014 Accord LX Sedan - selling price $19.3K+ (about $2300 below invoice), essentially if I put $957 DP, it is $149/month for 12,000 miles/yr, 27-months term, residual $15068. MF=.00073

    2) However, since I have an out-of-state deal as well for 2014 EX-L (4-cyl only, no NAVI), I explored if they can go near $25K or better on EX-L. Well, I was able to get $1750 below invoice. $16,564 residual. MF=.00073. $249 per month x 36 months 12K mi/yr.

    Not as nice $-wise as the LX, But l decided the EX-L is better choice for my household specific situation. Also, since I need to get back home ASAP, and knew I did not have Dec 30th open anymore, I did not put up a hard fight for the $300-400 for accessories -- that although useful, seems over priced for my taste (on after market Honda, same set of stuff appears $100-150 cheaper but I still need to install it).

    So: worst case I was $1050 below dealer invoice. If I pretend I really want the accessories and got them cheap, then I am $1250-1300 below invoice then plus a flex cash rebate of $500 after all is said and done. So not much of a buyers remorse. This is NJ anyway.

    Good luck to everyone. Enjoy your new car or while shopping. And a happy new year to all.

  • Leased a new 2014 Accord LX this past weekend at Hamilton Honda in Hamilton, NJ. 27 months, 12,000 miles per year, $129 per month with $1700 cash due at signing (Reduced from $2,200 by $500 Honda Flex Cash) (Upfront sales tax, bank acquisition fee, MV fees, dealer doc fee, bank acquisition fee, first month's payment). Unfortunately, was not initially aware that Honda recently instated a $350 Lease Disposition fee, but signed the deal anyways. Overall, very happy with the price, dealer experience, and the car itself.

  • @mp504558 - Congrats. The LX is an awesome value for what we get. Can you share what a) sale price was used? b) what was the residual value and money factor?

  • nanunemnanunem Posts: 8
    edited December 2013

    Hi Guys, I am in Texas and the deal I am getting is for a 2014 Honda Accord EX, 36-months, 15,000 miles per year, $250 per month and $1000 down that includes first month payment and every fee/tax payable, per the sales rep. The residual value per him is $15100 and the lease also includes GAP insurance, convenience and protection packages. Does this sounds a good deal or should I negotiate further?

    Thanks much for the help folks!!

  • @latecomer said: mp504558 - Congrats. The LX is an awesome value for what we get. Can you share what a) sale price was used? b) what was the residual value and money factor?

    @latecomer. I don't have the exact paperwork with me, but I remember the residual being approx. $15k, so right around 64%, with the money factor being 0.00073. The selling price was right around the $18,500-$19,000 range.

  • waddah0awaddah0a Posts: 11

    Can I have the MF and RV for EX-L V4 and V6 for 12k in Indiana?

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,898

    .00073 MF and 57%/56% respectively..

    Those are December numbers that are good until Monday, 01/06/2014

    Moderator - Prices Paid, Lease Questions, SUVs

  • Kirstie@EdmundsKirstie@Edmunds Posts: 10,676

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    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.

  • cali16cali16 Posts: 2

    Can I please get the MF and RV for an Accord Coupe EX-L 4 cyl 12K miles in Southern California?

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,898

    55% residual and .00073 MF

    Moderator - Prices Paid, Lease Questions, SUVs

  • jcholjchol Posts: 3

    Can I get the January MF and RV for Accord Sedan LX 4 cyl 12K Miles/36 months please? in NJ. Thanks in Advance!!

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,898

    @jchol said: Can I get the January MF and RV for Accord Sedan LX 4 cyl 12K Miles/36 months please? in NJ. Thanks in Advance!!

    .00073 MF and 59% residual

    Moderator - Prices Paid, Lease Questions, SUVs

  • jjm14jjm14 Posts: 6

    Can anyone recommend dealer(s) in NJ.

    I saw one for Hamilton Honda. Anyone have a contact there - name phone#/email

    Thanks!

  • Michaell@EdmundsMichaell@Edmunds ColoradoPosts: 1,168

    @jjm14 said: Can anyone recommend dealer(s) in NJ.

    I saw one for Hamilton Honda. Anyone have a contact there - name phone#/email

    Thanks!

    Please note that we are not allowed to share contact info on these boards - only dealer names and contact first names.

    michaell@edmunds.com

    Moderator, Prices Paid and Leasing Experiences

    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4

  • jaykitjaykit Posts: 2

    Just leased a 2014 Accord EX-L V6. No added options except for a rear deck spoiler. 36 mos., 12K mi/ yr. My net payment is $379/mo. w/ 6% FL tax included. Cash out of pocket was $660.27 (includes 1st mo pymt, tag/registration, etc). No trade-in credit, deposit or cap cost reduction from me. Honda does have a $350 lease disposition fee at the end now it seems. Could not get around that one. Let me know what you think good or bad.

  • mziamzia Posts: 4
    edited January 25
    I'm in the south Florida market for a 2014 accord EXL 4 cylinder and have been offered a sign n drive with nothing due and 35 remaining payments of $340 inclusive of tax. I'm trying to get them to$325. Any advice?
  • nyccarguynyccarguy Stamford, CTPosts: 7,107

    @mzia

    Instead of "trying to get them to $325," you've got to give us some more information.

    What is the MSRP of the car in question ($29,060 Including destination)?

    What is the selling price of the car? Invoice is $26,650, the car's selling price should be this at the most given the fact that South Florida is a very high volume market.

    What is the money factor (or interest rate) they are charging you? Dealers are allowed to mark up money factors on leases for additional profit.

    What is the car's residual value (this is set by "the bank")?

    How many miles per year is the lease for?

    Don't forget that you are in Florida, a state that does not regulate "doc fees or processing fees" which can run anywhere from $499 & up, so no matter what the dealer claims, they are never "loosing money" on a car.

    Have you shopped different dealers? Get all your "ducks in a row" and as @brian125 says, look to pull the trigger next Thursday or Friday at the end of the month where at a high volume dealer you will most likely get the best price.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • nyccarguynyccarguy Stamford, CTPosts: 7,107

    @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?

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

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