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2013 and earlier-Honda Accord Lease Questions

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  • jw074jw074 Posts: 15
    Abdulha, Cinbee: any updates?

    Also in the area looking for lease

    Rt 22 Honda online advertising:

    2013 Honda Accord LX Sedan Lease for $159/mo*
    36 Month Lease 12k miles per year

    * Lease prices are based on 36 month contracts through Honda, with 12k Miles per year and $999 Due at signing plus all fees without Loyalty needed. Does not include: Sales Tax, Bank Fee, Doc Fee, DMV Fee, destination, first payment or any installed accessories. Lease prices available with Tier 1 credit only.
    BUY FOR: $20,195*

    Down Pmnt: 999
    Bank Fee: 595
    Destination Fee: 790
    Doc Fee: need to find out what it is

    Thoughts? Anything else should watch out for/negotiate?
  • Well, if the doc fee was $300 and there were no surprises, then you would need $2,684 to lay out, excluding taxes and registration. Putting the $2,684 into the lease would make the payment about $239. If you put Weymouth Honda's doc fee into their lease (the bank fee and destination is already in it), their payment would be $242 before tax and registration. Weymouth's price seems to be lower than the $20,195 plus destinatiion so not sure how Route 22 is coming up with their payment.
  • kyfdxkyfdx Posts: 29,161
    Glad that worked out... :)

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jw074jw074 Posts: 15
    Weymouth seems to be 232 before tax/reg

    $209/month with $0 down Continuously Variable Transmission. Excludes Tax, $595 Lease Acquisition Fee, $239 Documentation fee and $125 Registration fee. 36 months - 12k miles/year. Expires 03/01/2013.

    (209*36)+595+239=8358 / 36 = 232

    Thanks for your help...now I know what range to work with
  • I'm on my 3rd lease with AHFC and each time I have traded into new leases about 6 months before my current is up, but under miles. This time I am 6 months out from my lease expiration and I am already 1,000 miles over. If I lease a new vehicle with Honda (or possibly an Acura) are these miles able to be forgiven? Do they work the mileage overage payment into the new monthly payment on my new lease?

    I went to on dealer here in Orlando and they gave me so much crap about being over miles and told me whether I leased a new car today or waited 6 months, I was going to pay for those miles, which I felt they were just saying so I would be comfortable with payming more to lease a car while on the lot that day.

    Any advice?
  • gmanusmcgmanusmc SoCalPosts: 436
    If you are trading your car in, the only part the mileage plays is how it affects the trade in value - trading in a leased vehicle is no different than trading a purchased vehicle - you will just have less, if any, equity to apply to your new car.

    Hope this helps,

    Bill G
  • You're very welcome hondarider2.

    Car_man
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  • Here's the information that you're looking for cpz1. Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Coupe EX-L V6 with 15,000 miles per year are .00125 and 55% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • Here's the numbers for the 4-cylinder, cpz1.

    Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Coupe EX-L 4-cyl. without Navigation with 15,000 miles per year are .00125 and 56% for consumers who qualify for its top credit tier.

    Car_man
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  • Nav often knocks a few points off of vehicles' residual values. The leftover value of an in-dash navigation system which initially cost hundreds of dollars or more that is several years old just is not that great in an era of cheap portable units, which are even giving way to phones with nav.

    Car_man
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  • Sales tax on leases in Illinois and Texas is particularly bad. Though dealers in TX are often provided with tax credits that can offset it.

    Car_man
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  • Here you go dickharris. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Sedan Sport with 15,000 miles per year are .00125 and 59% for consumers who qualify for its top credit tier.

    If you were to lease this car with only 12,000 miles per year, its residual value would be 2% higher.

    Car_man
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  • Hi cinbee. While Honda's lease program can vary from state to state once in a rare while, its current lease program for the 2013 Accord is national.

    Car_man
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  • Well I am working on a lease for a 2013 Accord EX in NJ. So far I have received the following:

    Up Front Payment $1300.00
    36 months 12K
    Out the Door OTD $285.00 per month

    Yes it includes everything including tax. Everything!

    Still shopping, however, I would like some feedback. Northern NJ
  • trusso69trusso69 Posts: 68
    edited March 2013
    Do you know the sell price? tax rate? dmv fees?
    msrp 26195; mf 0.00125; residual 62%

    Estimate 1 (dmv fee excluded):
    sell 23000; assumed a 7% tax rate on lease amount only
    $272 per month with zero down
    http://www.leaseguide.com/calc.htm

    estimate 2 (also no dmv):
    weymouth web site (7% manually input for tax rate)
    280 per month with zero down

    I think you have some haggling room...
    BTW, the notorious doc fee is completely negotiable in the Garden state.
  • huskerfan5huskerfan5 Posts: 163
    DMV fees are probably around $325 for an Accord in NJ so it looks like your $1300 initial payment includes your DMV fees, $595 Honda Finance fee, first month payment of $285 and doc fees of $95.
    The best way to compare leases is to put everything into the lease and then calculate 36 equal monthly payments.
    In your case, that would mean putting $1,015 into the lease ($1300 - 285 first month payment). In a typical lease, every $1000 put into the lease equates to about $30 a month so this lease would be $285 + 1.015 x $30 = $318 including tax.
    Weymouth is $280 but doesn't include their $125 doc fee, DMV fees or tax. So now you would be putting in $125 doc fees plus 325 DMV fees = $450. .45 x $30 = $13.50 more more month. $280 + $13.50 = $293.50. Add 7% tax, and the Weymouth equiv for NJ would be $314.
    Your are really close to Weymouth. Worst case, take this deal even if they won't go lower.
    Incidentally, according to the Weymouth site, the residual is 60%.
  • trusso69trusso69 Posts: 68
    REF: 5045
    Are you intentionally misleading this guy?
    The 280 on the weymouth site includes 7% tax I manually entered.
    Their sell price is 23273
    The residual for 12k miles is 62%
    His original deal is too high; there is easily a few hundred bucks he can go lower.
    get a clue ;)
  • davew09davew09 Posts: 2
    Hi Car man,
    Any word on whether Honda is/will be providing lease support on the 2013 Honda Accord Sedan - LX, CVT Automatic, 36 mo./12K, either this month (March, 2013) or next month?
    Thanks.
    dweston
  • acfkelacfkel Posts: 18
    I just turned in my 2010 Accord EX. I had one month payment left and damage to the rear bumper that when I had repairs estimated, was upwards of $600+. I traded in my vehicle and am in the new 2013 Accord EX. 15k miles, $0 down (sign and drive). They paid off my last payment and including everything it is $312/month.

    I think I could have potentially got it lower, but how do you think I did?
  • huskerfan5huskerfan5 Posts: 163
    russharris, I apologize, trusso69 is correct about the $280. I looked up the EX coupe, not the sedan so my amount is about $19 too low. Since your figures included everything and trusso69 figures required you to make some additional adjustments, my goal was to provide you an apples to apples comparision.

    trusso69, your comment that I would intentionally mislead russharris was uncalled for.
  • trusso69trusso69 Posts: 68
    ref: 5049
    you are correct; sorry for my abrasiveness
  • trusso69trusso69 Posts: 68
    "I think I could have potentially got it lower"...not that much

    Are you familiar with the weymouth honda web site? Best in the nation for their online disclosure of pricing for both buys and leases.
    from the site:
    MSRP including destination $26,195.00
    Sale Price $23,276.52
    Residual $15,717.00 (60% of MSRP)
    Financing 0.00125 money factor
    monthly payment 276
    note: tax excluded, doc fee excluded, dmv fees excluded. You would have to add these fees plus your one remaining payment to determine how you did.
    312-276=36 * 36 months = 1296
  • acfkelacfkel Posts: 18
    Thank you. Yes, I used the Weymouth calculator to compare my numbers to their's.

    I think I did do fairly well. I thought I could have got it down to $305, but I am happy with this. I was paying way too much for my last lease.
  • trusso69trusso69 Posts: 68
    edited March 2013
    ref 5052
    what made you choose the Ex? I am still debating LX, Sport, EX for myself.
    More importantly, how do you like your new car?
  • acfkelacfkel Posts: 18
    I wanted the sunroof. This wasn't available on the LX or the Sport, or so I was told. I was hesitant to go with this new Accord and was turned off by the new technology (keyless entry/ignition), etc. and even explored the Ford Fusion SE. Was tempted to go with the Ford, but went with the Accord and so happy I did. I have only had it for a few days but I love it and enjoying the very things I was turned off by originally.
  • huskerfan5huskerfan5 Posts: 163
    Not a problem. Thanks :)
  • gigalo00gigalo00 Posts: 1
    CAR MAN,

    Did the incentives and rebates change for the month of March? If not when do you think it will be updated?

    What is the current Money Factor and Residual Value on a Honda Accord EX-L 4dr no nav 12k from honda financial?

    In your professional opinion when is the best months (historically) for Honda to release their best lease incentives or rebates?

    Thanks,
    Edgar
  • Hey it is me russharris! Thanks for the comments. Once again, my offer included all fees, taxes, first month payment, the tire tax fee.

    2013 Accord EX
    $1300 Down
    36 mo
    12 K miles

    $285 month OTD

    Northern NJ

    I think I have wiggle room and I could work it down to $265.00

    No selling price was mentioned. No residuals etc

    I will let people know of my progress and final purchase.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dweston. Yes, Honda is running a special lease program on the 2013 Accord in March. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Sedan LX 4-cylinder with 12,000 miles per year are .00107 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    This program is scheduled to run through the end of April, but as usual Honda reserves the right to make unscheduled changes.

    Car_man
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  • trusso69trusso69 Posts: 68
    REF: 5058
    How is this a special program?
    Last month it was 62% and 0.00125
    Now it's 61% and 0.00107
    The resulting payment is the same. I am confused...
This discussion has been closed.