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2013 and earlier-Honda Accord Lease Questions

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  • Mind sharing the dealer in nj? Thanks
  • is there anything i can do at this point or is too late?
  • Great info on this forum. I just got a quote yesterday on a 2012 Accord EX-LV6 fully loaded with Nav. Getting 12,000 miles on a 3 year lease. Was quoted $358/mo no money down. I'm bringing in my 2009 Honda Accord EX without Nav w 30K miles. Is this a good deal?
    Thanks
  • sergeymsergeym Posts: 258
    I assume that you just returning your 2009, not trading it. If so I would say the price is great if it is actually no money down, just 36 payments of $358 each.
  • How does this lease offer sound?

    2012 Accord LX Sedan Auto
    3Yr/36K
    MSRP 22,950
    Residual 13,540
    Money Factor .0005
    Acq fee 595
    Selling price ??
    Monthly payment including 7.75% tax = $205
    Total at signing = $495 (First Month $205 + Fees $290)
    Dealer said they are applying $750 Honda to Dealer cash coupons.

    What is the Selling price?
  • That looks like a good deal. Mind sharing the dealership that offered that to you? Are you in the NY tri-state area?
  • I am in northern Ohio. Checked but they don't do out of state leases. I have a columbus and southern Michigan dealer who matched the same price if that helps anyone. Just pm me for the info.
  • michael164michael164 Posts: 1
    edited December 2011
    Hi Car man;

    We're interested in Honda Accords $260. per month (or Less) special lease offers.
    We're Pre-Qualified by Honda Financial Services for a Lease, but it doesn't give the Rate or any other info.

    Could you please advise what to look out for when shopping with our local Nashville area Honda Dealers so we won't get taken advantage of??

    We want a 2012 Accord Sedan LX or LX P or Se;

    What should the Numbers look like?

    Thanks in Advance!
    Michael and Seana
  • I live in Orange County, California. A dealer emailed me the sale tax for accord EX 2012 about 10.5% - 11%. How come the california tax is so different. I think CA tax is 7.75% only. Does the 7.75% not apply for the new car purchase?
  • shinngshinng Posts: 45
    edited December 2011
    Can anyone please provide the MF and residual for a 2012 accord exl v6 coupe (without nav) for 36 months/ 12k a year?

    Also, are there any incentives for new lease owners?

    Thanks.
  • Looking for a 2012 Honda Accord EXL lease. Anyone get quoted a good lease deal?
  • Hi Carman, I was offered a lease on a 2012 Accord LX MSRP $22950.00. Sale Price of $20878.00
    3 year/36K. Residual $13500. Cash Due $2500.00, payment $225.00.

    Is this a fair deal?
  • Greetings Michael and Seana. It sounds as though you may be new to leasing. If so, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    Savvy consumers who are in an area that has a decent level of competition should be able to negotiate lower selling prices than the ones that were used to calculate manufacturers' advertised lease payments, and in turn better monthly payments.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'd be happy to help you out, shinng. Honda Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord EX-L V6 Coupe with 12,000 miles per year are .00050 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing a $500 dealer cash incentive on this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello huggie91. The dealer invoice price of the care that you are interested in, a 2012 Accord Sedan LX 4-cylinder is $20,888. Honda is providing a $500 dealer cash incentive on this car, lowering the invoice price to $20,388. That puts the price that you were quoted at around $500 over invoice...which is a pretty good deal.

    Just make sure that the dealer uses Honda Finance's buy rate of .00050 (for top tier customers) to calculate your payment and you're in business.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Norm Reeves in Cerritos CA car ad today:

    $0 drive off, $189/mo + tax on 12 Accord Se or EX 4dr auto

    No first payment, no sec deposit, no drive off

    plus taxes and reg fees and $50 doc fee

    that's cheap!

    Mark
    :P
  • Hi, it seems that the December buy rate for MF is .0005 for "super preferred" credit tier, however I am unable to figure out what the residual value should be for a 2012 Accord SE 36 MO lease? Also on the car buying forums folks are reporting that they are able to get $2100 off invoice in some markets for this same Accord SE, is it possible to get this kind of discount for a lease? I realize that the purchase price is negotiable for leases but I wonder if there are extra incentives for dealers to sell vs lease? That would make those kinds of discounts unttainable for leases then right?
  • No nothing about leasing. The deal is 139 a month for 36 with 2012 dep. plus bank fees and tax? adding another 1900 out of pocket. It's a 2012 accord se. And what does residual value mean. Also the salesman says I can always cancel in a year if I want. Any help would be great.
  • i am looking to lease two cars at once. can you tell me if there is anything additional i can use to my advantage? another question i have is that i was told that when the lease term comes due, say 36 months, i can continue to pay at the agreed rate until the car is completely paid off. any thoughts on that?
  • Car Man,

    I leased a 2012 Honda Accord LX.

    I traded in a vehicle with value around $3000 - $3200.

    I pay nothing on signing except doc/taxes/tag/fees/and more fees (Around $600). My monthly payment is $165.00

    What do you think?
  • sergeymsergeym Posts: 258
    edited December 2011
    I usually add all dollar amounts together and divide them by number of months the lease is for. Often I even ask the sales guy to roll ALL fees into the monthly payment. In your case it is $248 per month to lease Accord SE for 36 months. It seems to be a decent deal to me. Last year a friend of mine leased EX-L for $290 per month. Your deal seems to be a little bit better. Here is the catch though. There is absolutely NO way to get out of a lease except to make ALL monthly payments. Sales person just lied to you. Should not be a surprise, that is what they do for living.

    Residual value is the value of the car (wholesale) after you are done with it. You also will be able to buy it for that amount if you decide to keep it.
  • Hi jashaw. What you were told about being able to continue to make the same payment on your vehicle at lease-end until it is paid off is incorrect. If you decide to purchase your vehicle at the end of your lease, you will either have to pay cash for it or finance it through a bank. Honda may offer you financing on your car, but I doubt that your payment will be exactly the same.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I was wondering what Honda's money factor and residual value are for January 2012 for an Accord EX-L w Navi for 3 years and 45k miles. And are there any incentives or rebates in effect?

    Thanks in advance.
  • I should add that I am looking at the V6. Thanks.
  • Hi, can someone please tell me if this deal is any good?
    2012 Honda accord LX for $129 per month for 36 months with 2012 down before tax. I would like to buy the car at the end of lease and the purchase price is about $13.5k. I will be allowed 12K miles per year for 3 years.

    My other option is to go for a 2012 Civic LX for $99 per month for 36 months including tax with 2012 down. The end lease purchase price for the civic is $12k.

    Any help will be apprecited.
  • Hey, Im in OC, looking for similar deal.
    So you had no down payment? whats your rate with tax?
    Did you take the deal?
  • ken117ken117 Posts: 212
    The salesman is incorrect. You cannot cancel a lease after one year, unless it was a one year lease or it has some unusual clause. A lease is a contract and you are obligated for the entire term of the lease. You can always turn the car in early but you would still have to pay for the whole lease.

    The residual value is the value the car is worth when the lease term is over. For example, a vehicle might have a residual value of 60%. If the MSRP for the vehicle is $20,000 the residual value is $12,000 ($20,000 X 60%).

    The residual value is used to compute part the monthly lease cost. A part of the monthly lease cost is the price paid for the vehicle (reduced by any money put down - I would not put any money down on a lease) reduced by the residual value. That amount is divided by the number of months in the lease.

    For example, if the price paid and financed for the $20,000 vehicle was $19,600 that part of the monthly lease costs would be $100 ($19600 - $16,000/36 months). Obviously, the higher the residual value the lower the monthly lease cost.

    A second part of the monthly lease payment is the money factor, which is a bit more complicated. The way to compute this can be found on the internet and Edmunds has such a tool on this website, I believe. In this case, the lower the money factor (often referred to as MF) the better for the buyer.

    Remember leasing a vehicle is the same as buying a vehicle. The price paid for the vehicle can be negotiated the same as if you were buying the vehicle. People do not have to pay MSRP for a lease.

    I hope this helps and is not too confusing.

    One other thing to remember is Acura has GAP insurance built into its lease (I know as I have a lease with Acura). GAP insurance will cover the value of the vehicle should it be totalled. GAP covers the difference between what the insurance company pays and the value of the vehicle to the lease company. This means if the vehicle was totalled, there is no cost to you.

    This is one reason people should not put money down on a lease. You would do much better to leave the downpayment in the bank where you will have access to it. In the worst case, you can always take money out of the bank (where the deposit money rests) to pay any shortfalls you may have making a monthly payment.
  • otoluvaotoluva Posts: 143
    edited January 2012
    Just picked up my blk/tan, 3yr/36k, $231 a month incl 6.25% MA sales taxe, 0 drive off, 35 remaining payments.
  • kyfdxkyfdx Posts: 31,103
    That is a great deal....

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Here's the information that you're looking for albautoleaser. Honda Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L 4-cylinder with Navigation and 15,000 miles per year are .00033 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing $500 dealer cash on the 2012 Accord, which is compatible with this lease program.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.