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2013 and earlier-Honda Accord Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,518
edited January 28 in Honda
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Honda Accord. Thanks.

Car_man
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  • Can you give me the residual values and MFs for a 36 mo 36k lease on a 06 Accord Value Package?
  • The residual is 57% and the money factor will vary (as it always does) on your credit history. Currently AHFC is not offering special lease rates for the 2006 Accords. Good luck.
  • I know this is off-topic, but only slightly off-topic. :D

    Could you give me the residual values and MFs for a 36 mo 45k lease on a 06 Civic LX Coupe?

    Thanks!
  • A: If you were to lease a 2005 Honda Accord sedan VP through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 50%, respectively. this assumes that you pay a security deposit and qualify for Honda's stop credit tier. :) .

    Car_man
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  • Hi jnuzzi. Please post any questions that you have about leasing a Honda Civic in the following discussion: "Honda Civic: Lease Questions". Thanks.

    Car_man
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  • Honda states on its website that special lease rates are available on all new 2006 Accord models through 10/31/05. Have the residual values and/or MFs gotten better in the last few days? Last week I I believe the residual and MF on a 06 EX V6 for 3 year, 36K miles was 59%, .00250 respectively.
  • Car man, can you give me the current MF & res for 36 month, both 12k & 15k miles? I believe the August numbers were .00113 and 54/52%. Message #5 above on the VP scares me -- did Honda increase the MF to more than the 2006 number, and decrease residuals?
  • Hi maltbie. While Honda was not providing any sort of lease support on the 2006 Accord early on this month, on September 20th it introduced a special lease program on this car. The residual value that I quoted you for this car earlier would be the same, but Honda Finance's new buy rate lease money factor for a 36 month lease of a 2006 Accord Sedan EX V6 is now .00192.

    Car_man
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  • Hello nvnick. Unfortunately, Honda terminated its special lease program on 2005 Accords. Its residual values are lower and you have to use Honda's standard lease money factors to lease one this month. If you were to lease a 2005 Accord EX V6 sedan through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 51%, respectively. At least, the dealer cash that Honda is providing on this car, $1,200 on '05 Accord V6 Sedans, is no compatible with leases through Honda Finance. Make sure to take it into account when negotiating your car's capitalized cost.

    Car_man
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  • Sorry if the answers above actually take care of this question, but could you give me the numbers for the following:

    2006 Honda Accord EX-V6 Sedan Manual Trans & Navigation
    36, 39 & 42 Month lease residuals and money factors
    12k miles per year

    Thanks in advance!
  • gen1gen1 Posts: 7
    Car man, can you give me the current:
    42 Month lease residuals and money factors
    12k & 15k miles per year
    for 2006 Accord LX Automatic Sedan (Model CM5646EW)
    Thank you!
  • I bought out my leased Honda Accord last week. It's a 2002 Accord LX Coupe and I had been the only-ever owner (picked it up with 31 km's on it). Since the car has low mileage and is in excellent shape, buying out the lease and then reselling it made perfect sense to me.

    In acquiring the used-car-sale package (required in Ontario to sell a used car), I found that somebody who I had never heard of had a lien against by VIN#. Further investigation with the help of Honda Canada revealed that somehow, somebody else had leased a car with exactly the same VIN# (hence the lien). This other party was contacted and asked to verify their VIN aginst their ownership (to rule out a data entry error) - they have verified that the VIN on the vehicle itself matches the VIN on my vehicle.

    My guess at this point is that the other car was illegally resold (possibly stolen or previously written off).

    I'm wondering if Honda Canada had sold me my vehicle without first doing a lien check to ensure that the car was actually sellable. At the very least, I did not get full disclosure. I cannot resell the vehicle until they figure out this mess - so how could Honda have sold me that vehicle under the same conditions?

    Any advice on how to proceed? Do I have any legal case against Honda? This is in Toronto, Ontario.

    Thx,
    -jj
  • nvnicknvnick Posts: 50
    Car_man,

    Thanks for the reply on the 2005 Accord, looks like the 2006 deals are better. Are the residuals for October still 59% (36mo/36k) and 57% (36mo/45k)? MF still 0.00192? Thanks for the great service you provide here at Edmunds!!!

    I'll check the Passat forum for 2006 2.0t numbers, may the best car also be cheaper!
  • Hi typesdriver. The above posts wouldn't exactly answer your question because Honda just introduced a new lease program yesterday. If you were to lease a 2006 Honda Accord EX-V6 Sedan with Navigation through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00192 and 57%, respectively. The numbers for otherwise identical 39 and 42 month leases should be .00192 and 53%.

    Car_man
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  • Here's the information that you are looking for, gen1. If you were to lease a 2006 Honda Accord LX 4-cylinder Sedan through Honda Finance right now for 42 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00184 and 53%, respectively. Its 12,000 miles per year residual value would be 2% higher.

    Car_man
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  • I am very sorry to hear about this messy situation jjbimmer. I am not all that familiar with the Canadian market and do not know exactly how you should proceed in your country. A number of knowledgeable community members frequent the following discussion, perhaps they will have some suggestions for you: "Any Questions for a Car Dealer?".

    Car_man
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  • You're very welcome nvnick. Honda Finance's 36 month, 15,000 miles per year lease program for the cars that you are interested in are exactly the same in October as they were late last month (.00192 / 57%).

    Car_man
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  • waydewayde Posts: 198
    Hi Carman -
    Can you tell me what I should expect to pay for a lease with just 1st payment and plates down?
    2006 Accord EX V6 Coupe 6 Speed / Auto (haven't decided yet)
    MSRP 27950
    Sell Price 26000 (shooting for)
    36/36k or 42/42k
    Thanks!
  • Hey wayde. Let's estimate a lease payment for this car and see what we come up with. According to my calculations, if you were to lease a 2006 Honda Accord EX V6 Coupe with an MSRP of $27,950 and a selling price of $26,000 through Honda Finance right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $346. The payment for an otherwise identical 42 month lease should be around $339. For the money, the Accord makes a great lease vehicle.

    Car_man
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  • waydewayde Posts: 198
    Thanks!! Much appreciated. Will have to see what I can get for trade now on my car (ouch).
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