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2013 and earlier-Honda Accord Lease Questions

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  • gpsacgpsac Posts: 98
    Just picked up new Accord EX I4 auto 4dr on a 36 mo 12k mile. Polished metal with gray interior. Central Florida.

    0 up front
    35 @ 227 + tax (242)

    Turned in my 2010 Accord with 2 payments remaining of 248 which the dealer would make and then turn it in to Honda. Apparently it is not worth the residual.
  • accordman3accordman3 Posts: 4
    edited August 2012
    I'm also in Central Florida and I've an accord LX 2010 lease (12 payments remaining $267 per mo.. Ouch! I know) wanna return it for EX-L 2012. Can you tell me what dealer was that?
  • gpsacgpsac Posts: 98
    Titusville
  • Hi,
    I have e-mailed several dealers in the Philly area, and also found that Piazza seems to have the best internet prices--$20,053 for the SE. This price is higher than some quotes on this website, but I haven't gone into the dealer yet, and suspect that I can trim a little bit off of this number. Unfortunately, it seems more difficult to get a handle on lease costs. Excluding taxes and state/dealer fees, I've calculated that a 36 month, 15,000 mile/year lease should cost $205.85/month (using a $13,807 residual and .00046 money factor). However, the fees charged by dealers seem really inconsistent. For example, I received a lower quote from a dealer charging a higher price ($20,333 resulted in $452 down and $235/month with 9% tax included vs. $20,053 = $453 down and $236.31/month OTD). I have had no luck getting dealers to report their fees via internet. Does anyone have any idea what lease/registratiion fees should be expected in Pennsylvania? Thanks--this forum is the most informative website that I have come across!

    (Also posted on the Buying Forum Site)
  • pegasus17pegasus17 Posts: 536
    edited August 2012
    REF: 4792
    Previously reviewed great deals on the SE lease are 210/month pre-tax with zero down. PA doc fees are completely optional:
    http://blog.truecar.com/2011/07/26/which-additional-fees-should-i-pay-at-the-dea- - lership-what-is-the-doc-fee/comment-page-1/#comment-53152
    Your numbers are quite good considering the 9% tax. Only additional fess are temp license and first year reg fees (~100 here in OH, not sure about PA). Remember the supply is dwindling and so is there desire to deal. Pictures of the 2013 Accord were released a few days ago and it is very similar to this 2012 model. If i wasn't stuck in a lease til March 2013, I'd lease a 2012 Accord now. Good luck!
  • Here is what I have been quoted on:

    2012 Accord Coupe EX I4
    -1,300 Total out of pocket includes first months payment
    -$268 month 35-months 12k miles
    -$284 month 35-months 15k miles

    2012 Accord Coupe EX-L I4
    -1,300 Total out of pocket includes first months payment
    -$305 month 35-months 12k miles
    -$322 month 35-months 15 miles

    money factor .00046
    Residual 52%

    Selling price: (before Tax)
    EX - $ 22,673
    EX-L - $ 24,262

    I beleive that these are both very good deals. (Both well below invoice) Just want to see what you guys think. I am thinking of going with 15k miles just to be safe, since the new 2013 is coming out soon it might be difficult to get out of the lease if I run out of miles with 12k. My main question: Is it worth it to get the EX-L at $38 more a month? or should I stick with the EX and cloth interior. Don't get me wrong I loved the power leather heated seats and leather wrapped steering wheel, but what else does the EX-L offer that would make the $37 more actually worth it. don't care about the xm radio and dual climate control, and outside temp display. What would you guys do? I am leaning towards the EX with 15k at $284 a month. I just don't see enough to warrant a $38 more for better seats. What do you think?
  • bradl1bradl1 Posts: 3
    Hey Carman, big fan of the site. Could you please post the residuals and MF for a 2012 Accord Sedan (both the EX-L and EX-L V6), assuming a 3 yr, lease w/ 15k/year.

    Also, is the 3 yr lease the way to go on this vehicle or are the numbers better for a 2 year.

    Thanks so much!
  • Honda Accord V6 EXL OTD price $27.7k was quoted to me by a dealer from Manhasset Honda in NY. I wonder if this is a good deal?

    I think the i-4 would be quoted around $2000-2500 lesser, which one is worth it? I currently lease a 2010 accord and am getting a little tired of the i-4 and wish I had little more action ....... maybe an i-4 EX with 190hp would be tempting?

    Please comment
  • Inadvertently posted this on the wrong forum, apologies.

    I'm being offered 12k, 35 payments on a 2012 LX @ $208/month here in Mississippi with $1500 down. Seems very basic and run of the mill. The dealer is claiming to eat the monthly taxes on the payment to get me right at $250 before the down payment.

    Any thoughts?
  • gpsacgpsac Posts: 98
    Not too impressed given that it is the end of the model year and $250 is the nationally advertised Honda payment for an LX with 0 down for 35 mo. @ 12k miles.

    A couple weeks ago I got an EX 4 sedan for 227 + tax ($242) with 0 out of pocket and if you consider the fact that the dealer made the final 2 payments on the 2010 I dropped off, it works out that the 227 is really like $215.
  • So your deal on the EX was $215+tax, no money down? Around $237-8...for a bump in the model as well.

    Thanks for the info. I think I'll get multiple quotes from regional dealers and see what my local guy wants to do then.
  • Dealer has moved to $199/month (taxes included) on a 2012 LX 4, $1500 down with 12k, 35 payments and they are having the exterior/interior colors I want brought in from another dealership.
  • I am sorry for my ignorance,,,but how do you use the residual and money factor to calculate the cost of the lease...is there a formula?
  • Thanks I will check it out!
  • tpbctpbc Posts: 13
    Can you tell me whether Massachusetts is one of these states? I am considering a lease on a 2012 Accord LX and was just quoted a $17,776 price and want to get paid cash on my 2011 Elantra.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks bradl1 :shades: . Here you go.

    Honda Finance's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L 4-cylinder with 15,000 miles per year are .00046 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of an Accord Sedan EX-L V6 are .00046 and 51%.

    When negotiating your deal on either of these cars, make sure to take advantage of the total of $1,500 in cash incentives that are currently available on it.

    A 2-year lease of these cars would definitely be more expensive than a 3-year lease.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey robcola1. The lease calculator that pegasus was kind enough to share is great, but if you're interested here's how the formula that is used to calculate payments works: Calculate Your Own Lease Payment. I usually use this formula and Excel to work up payments.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    That's a good question, tpbc. I am not personally familiar with the sales tax laws for Mass, but you might be able to find out by visiting one of the following sites: Mass Department of Motor Vehicles or Mass Department of Revenue.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man
    Thanks for the info..that is excellent info and gives me even more detail on the answers I need. I appreciate your help.
    Bob
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome Bob. I'm glad that I was able to help you out.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • partcans:

    Did you close a deal with Piazza? I also found that they have provided the best internet numbers.

    If you dealt with a trade-in or lease return, please advise as to how they treated you. Do they low ball the lease figures and therafter also low ball you on your trade.

    Thanks
  • I am not an expert, but I did lease a LX in April and thought I would reply to you. I based my decision on the total for the lease and the residual. My lease total [complete] is $7009 for 12k miles 36 months, $13149 residual. I jumped at it because I thought it was quite a deal, and I had a 16 year old Accord LX. I think it is a good car, not great. There are some issues for me, such as stopping distance, uncomfortable seats, below average stereo with this Accord. If I didn't get a good deal, I would have waited for the '13 Altima,'13 Accord, or maybe something else. Add up the total for your lease , taxes, tags, dealer fees, money down, everything. I think the LX, at this time, should be close to $7000 with a fairly low residual.
  • miami425miami425 Posts: 2
    edited September 2012
    I currently have an Accord LX with 6 weeks remaining on the lease. Here is what the dealer has quoted for a new lease:
    2012 Accord SE 36 month lease
    12000 miles year
    I do not have to make the one remaining payment on the current lease
    No payment the first month
    $271 payment including tax months 2-36
    $372 at inception for tags
    Good deal or should I try to negotiate more?
  • gpsacgpsac Posts: 98
    Hi miami424,

    Assuming there is still decent availability as it appears the incentives are the same as August, I might check further.

    30 days ago I had 2 payments left on a 2010 LX and thought I'd test the waters one weekend. Used Edmunds to e-mail several dealers in Central Florida. Two hours later I was on the phone with a dealer on the east coast (about 45 miles away) cementing a deal! Bigger dealers in Orlando would not deal enough.

    Dealer took care of the last 2 payment on my 2010 and had to "dealer trade" for the 2012 EX auto 4 dr I wanted. $242 a month (incl tax) 36/12k with ZERO out of pocket. Three days later I was there and back in under 3 hours with my new one. Just in time for the ball game.
  • Thanks for your advice!
  • gpsac,

    Can you tell me the name of the dealer? I am in Orlando and will be leasing a new Accord soon. Or at least tell me which city on the coast. Thanks.
  • gpsacgpsac Posts: 98
    Titusville. Do the email quote from Edmunds to get the internet manager.
  • Awesome. Thanks! Hopefully there will be some good left over 2012s when I am ready to lease.
  • Does anyone have what the money factor and residual value will be on a 2013 Accord Touring.
    I know its early, but I am stopping by the dealer on Wednesday, just thought I would have this info in my back pocket. Also, will these numbers change as it gets later into the model year, say in a month or 2?

    Thanks!
This discussion has been closed.