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2013 and earlier-Honda Accord Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cooper101. Manufacturers' official advertised lease payments usually usually leave a little meat on the bone so to speak. Savvy consumers who are in areas that have a decent level of competition are usually able to beat them. Dealers' advertised leases vary. Some are bait and switch deals that are nearly unattainable, while others are beatable. The easiest way to get a good deal on the car that you want is to negotiate as low a selling price as possible on it, making sure that the dealer subtracts any available cash incentives.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V6 with 12,000 miles per year are .00062 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • ezguideezguide Posts: 4
    edited April 2011
    Hi Car man,

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Honda Accord Sedan EX 4-cylinder with 15,000 miles per year are .00062 and 56%.

    Is the current buy rate lease money factor and residual value the same with 12,000 miles per year for 2011 Honda Accord EX auto 4-cylinder? Thank you very much for your help Car man.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey ezguide. The money factor for a lease with only 12,000 miles per year is the same, but the residual value is 2% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • mjafarymjafary Posts: 3
    Hi. Are you getting $269 lease payment a month for a new 2011 Honda Accord EXL V6 ?? Which city/state are you in ? Whats the buy back at the end of 36 months?

    Actually, I am planning to move to Phoenix next month and have been in conversations with the dealers there. The upfront monthly payment for EX they have quoted is $293.07.

    Your deal seems to be a really good one compared to what I have been offered. Can you please give me additional details as I fear like the dealerships in Phoenix will rip me off!! Did you bargain a lot ?
  • Hi mjafary, I am getting $269 a month lease for a 2011 Accord EXLV6 sedan. The dealership was running a special, the buy back at the end of 36 months was close to $17000. Great deal I couldn't pass it up.
  • soplushsoplush Posts: 29
    I got a letter from my Honda dealer with a similar offer. Did you pursue? If so what was the outcome? Were you pleased? I'm considering a CRV or Crosstour. Thanks.
  • jett456jett456 Posts: 34
    I did go and test drive the car. The letter is basically just a tool to get you in there so they can try and sell you a car. They did not offer me any great deal at all. The salesman tried his slick tactics but to no avail. I was not buying it. The price of the car was inflated and the lease rate was 359 with 0 down. Not really zero down. It was in the are of 650. This was for an EXL. I laughed and told him for that price I could have an Acura. He didn't like that. He was trying to convince me that it was a great deal and I should grab it. He was talking about negative amortization from my lease. I was glad I went though to check out the car and make me realize I dont want one and to stick with the Insight until my lease is up. If you go make sure you bring in what the price of the car should be to base the lease on. He wouldn't even tell me that even after I told him I knew what the dealer pays for the car.
  • jj116jj116 Posts: 2
    CarMan -
    Will probably lease an Accord Sedan EX-L V6 this month (No Nav). Can you please provide May residual and money factor for a 3yr 12k mile lease, and also let me know if there are any manufacturer incentives that are not advertised (I'm in Northern California)... Thanks!
  • marbetd77marbetd77 Posts: 13
    edited May 2011
    cooper101,
    Did you put any money down, and what state are you in? Does this have nav? Thanks in advance.
  • marbetd77marbetd77 Posts: 13
    CarMan,
    Looking for May residual and money factor to lease 3 yr/36000 sedan or coupe (need to test drive). First time leasing, don't want to get ripped off by dealer. Are there any Honda incentives for May? many thanks.
  • cooper101cooper101 Posts: 3
    Hi marbetd77 I put no money down, it does not have navi. I live in WI.
  • marbetd77marbetd77 Posts: 13
    Cooper101,
    What was the MSRP for this, and any other info I should know when trying to work out a lease deal (residual value, money factor, etc). Thanks again for your help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for jj116. Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V6 with 12,000 miles per year are .00077 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing a total of $1,500 in cash incentives on leases of this car through Honda Finance.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi marbetd77. Honda finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan LX 4-cylinder with 15,000 miles per year are .00077 and 56%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of an '11 Accord Coupe LX 4-cylinder are .00077 and 54%.

    Honda is currently providing a $750 cash incentive on leases of Accord 4-cylinder models.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • marbetd77marbetd77 Posts: 13
    hello all,
    I have a question regarding the 2011 accord sedan EX-L V6 36 month/12K miles per year. I have the lease money factor as .00077, residual value 55% (super preferred credit tier). $1500 cash incentives. With all this considered, what is a good price for the lease? Last month Cooper101 posted $269/month, nothing down for this model. Is this still a good price for May?
    Appreciate any guidance offered.
  • rawbombrawbomb Posts: 13
    Id love to get some payments others have gotten aswell. I am looking for the EX-L V6 with navi and wouldnt mind knowing that the ball park i should aim for.

    One question about the rebate. Would the rebate allow them to go under invoice and still make money off the sale? I have never know if the invoice price listed on these cars already included the available rebates.
  • Hi I am looking at a 2011 honda accord EX 4 cyl. 12,000 miles 36 months. with a $3100 trade in. I have gotten a quote down to $188 month nothing else down and 35 payments as 1st payment is covered. It seems like a really good deal but just want to check if others have thoughts.
  • ezguideezguide Posts: 4
    Hi jackcestola,

    I'm from the los angeles area. I got the Honda Accord EX (4cyl, automatic, 12,000 miles, 36 months) 2 weeks ago for $290 per month (tax included).

    It would have been cheaper if I didn't have to pay for the GAP insurance. The finance guy said that "because of my low monthly payment, he had to finance me through US Bank instead of Honda financing." I argued that Honda financing includes GAP insurance and it is advertised on the "Honda Sale Event" But to make the story short, make sure you get a confirmation that you will be finance through Honda financing only.

    36 months payment
    $290 per month (including GAP insurance, Honda Care Package, and tax 9.75%)
    $0 down
    No trade-in
    I paid approximately $700 (including 1st month payment and resgistration fee) when I left the dealer.

    Hope that help and good luck.
  • Currently have a 2008 Honda accord EX (4-cylinder, no navi) 12k mile lease. Paying $280/month. Put down roughly 3k. I am getting ready to trade in.

    I was offered 2011 Honda LX-P (lower model) for $280 a month. I would put down nothing out of pocket (I mean absolutely nothing) except first months payment.

    I personally think I was paying to much to begin with. Any thoughts?
  • sergeymsergeym Posts: 258
    Looks like cars with Navi have lower residuals. Is it true? Could you help me with MF and Residual numbers for 36 month, 10K per year lease? Thanks.
  • marbetd77marbetd77 Posts: 13
    Hello again,
    I've been shopping around, and for a sedan EX-L V6 I have this price:
    $346/month 3 yrs/12K miles per year (MSRP $30,180)
    $1019.51 Total due at signing includes MV Fees $399.00 Doc fee $269.00 Tire Tax $7.50 and 1st payment $346.00
    With nav, they said 50$ more per month.

    I also had higher quotes. Is this reasonable or no?
    Thanks.
  • sergeymsergeym Posts: 258
    Last month I got this offer for 4 cyl
    2011 Honda Accord Sdn Ex-L with Nav
    Lease Terms:12,000 miles per year,36months
    Lease payment $337.59
    Total Cash Required on Delivery is $435.09 + DMV
    Non-navi was $292. Looks like May offers are not as good as April's.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes rawbomb, with the $1,500 in cash incentives that is currently available on leases of the 2011 Accord the dealer would indeed be able to sell you the car for under invoice and still make money.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Generally speaking, SergeyM, yes vehicles that are equipped with navigation often have lower residual values than vehicles that do not have it.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V6 with Navigation and 12,000 miles per year are .00077 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 4-cylinder model are .00077 and 54%.

    I'm not sure if Honda Finance offers leases on vehicles with only 10,000 miles per year, but if it does then its residual values for that mileage allowance are likely 1% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • sergeymsergeym Posts: 258
    Thanks. This is exactly what I needed.
  • shamcyshamcy Posts: 23
    Just got offered a lease last night on a 2011 Honda Accord EX V6 12k/36 months. zero down, free first month. Just TTL upfront. $290/month. Anyone getting better prices lately? Should I jump on the deal?
  • hiker10hiker10 Posts: 17
    To jackcestola, I'm in Los Angeles and wondering what dealership you went to. I was quoted $284 with $375 down and first month free for Honda Accord SE 2011.Wondering if I can do better.That's with Honda financing and good credit.Thanks
  • hiker10hiker10 Posts: 17
    The $284 is not including tax. Any help is appreciated.
  • hiker10hiker10 Posts: 17
    To ezguide, who is the car dealer in Los Angeles? Thanks.
  • marbetd77marbetd77 Posts: 13
    This looks good to me, my best quote for this lease is $341/month with zero down. May I ask what state you are located in?
This discussion has been closed.