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2013 and earlier-Honda Accord Lease Questions

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Comments

  • emareeemaree Posts: 5
    My lease is up early next month and I just came back from the dealer I initially leased with.
    I have a 2010 w/ 24k miles to trade in...I owe 14k on it and its in great condition. I already had my lease turn in inspection and they only charged $175.00 towards the allowable 1500 wear and tear.

    I want a 2013 LX coupe for 36 months, zero down, 12k miles a year and he is telling me the best he can do is $299 a month sales price quoted around $22,500

    For the same car but the sedan he is saying $265 sales price quoted roughly 20,500

    I told him I was going to another deal to see what they can offer.
    Please help!

    Don't I have equity in my current lease? I see that they resale for around 16k
    thanks!
    I live in the Philadelphia area.
  • sonis718sonis718 Posts: 2
    I got a 2013 Accord Coupe EXL W/O Navi yesterday $355.19, 0 at signing all the [non-permissible content removed] fees like license title whatever else they come up i made them include it in the payment as i always do

    from Reginald Smith Tempe, Arizona
    total time investment was 8-9 hours, 5 of which i spent in the last dealership where i got the car.
    i went to 3 other dealerships in the area first and got lowest deal in tempe. scottsdale is the worst, its the richest area, they sell so many cars they dont care to negotiate as they always meet quotas. in phx area mesa and tempe are your best bet

    its the 4 cylinder leather model W/O Navi

    they tried to get me for $470.

    i got them down to 370 and started signing and then ripped up the contract after i saw a $500 discount for veterans. thats another $15/mo if you count 500/36 and the taxes

    i had to show them my discharge papers to prove im a vet which i conviniently had in my email.

    if you are going to honda and you are not a vet, i recommend you get discharge papers from a friend and edit the name in photoshop, they have no way of confirming if its legit. DO NOT mention you are a vet until you are sure you got them to drop the price as low as possible. if you mention it ahead of time they will keep this $15/mo in reserve

    that being said i am also a returning honda customer i returned my 2011 accord sedan lxp which gave me no benefit and as a returning customer i got $500 credit which is another $15 over course of 36 mo.

    if you cant get discharge papers from a friend just get them online im sure you can google a DD-214 form and add your name.
    here is an example.
    http://bessettefamilies.com/Documents/DD214%20RAOUL%20BESSETTE%201956.jpg

    you say dishonest? i say you dont just find $15 laying around on the street every month and if you consider how crooked and evil the dealers are you are leveling the playing field.

    im sure honda not only one with vet discounts, just ask.

    when you walk in tell them you are not in a hurry to buy, but you are a serious buyer and if they really want to sell you, you will leave with the new car today.

    another cool trick.... find the one car color/feature combo they do not have and make them order it. they will go out of their way to sell/lease you stuff that on the lot today. I told them i want a blue one and they didnt have it. so i prettended like im settinling for black and got more money off.

    if anyone got an exl for less than $355.19, 0 upfront please let me know
  • sonis718sonis718 Posts: 2
    Dude! dont wait for lease to be over. return lease and get new one early. no penalty for that. when you do that they dont count the damage.

    if you dont have enough time. fix the stuff yourself.

    dents and scrapes are cheap to do at non dealer body shops. just make sure you tell the body shop that its a lease and they have to make it look like new.

    honda allows $500 per incident up to 3 incidents.

    unless you have been in collisions you should be able to fix it yourself cheaper. they trying to scare you into being a return customer or buy the car or whatever is in their favor.
    tell them you gonna get a jetta. remmember you dont need them, they need you. there are usually 10 honda dealerships within 60 mile radius depending where you are. and if you in big cities where competition is high. dont spend more than 40 minutes in dealership. and be rude.
  • cuban1cuban1 Posts: 2
    Co-worker here in Miami-Dade leased last month (March) Accord LX Auto 12k miles per year.

    Selling price car was about $20,514. Sign and drive $278.00 per month taxes included.
  • ral2167ral2167 Posts: 642
    First, you're unethical as all get out.
    Second, that's a lousy deal you made on a 4 cylinder ex-L without navi. Prove otherwise by telling us what you "paid" for the car, what the interest rate was, and what the residual was.
  • "Don't I have equity in my current lease? I see that they resale for around 16k
    thanks! "


    In a similar situation as you emaree. I posted in the Real-World Trade-In Values forum and received quick responses in how to handle this "equity" (if any). My inquiry started HERE.

    I recommend posting there using that forum's template for a rapid and accurate response. Seems as if qbrozen is the trusted expert there and I really appreciated the input.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    HI contract_build. Honda's March lease program for the Accord was scheduled to run through April 30th and so far it does not look as though Honda has made any unscheduled changes to it.

    Having said that, you're in luck if you're looking for a super secret promotion. One interesting program that Honda has running out there is its FlexCash promotion. This is a behind-the-scenes program that is being given to dealers to help them get consumers into Honda Finance lease or finance contracts on new vehicles. Essentially, at the beginning of the month Honda dealers were given a chunk of FlexCash that they can use on deals. The amount that can be used varies by model. It is $500 on a '13 Accord. See if you can get the dealer to use some of this cash on your deal. It would help to make the payment a little more attractive.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • emareeemaree Posts: 5
    thanks for the reply sonis, but I don't have damage...I meant the only thing they found on or inside my car was a little paint damage on the bumper!
    Its in perfect condition!
    You are right, there are a ton of dealers in my area and I will continue to look.
  • Two ways to go:
    1- Trade it in, shop it around to the dealers, if it's low miles, and in good shape, they want it for there lot

    2- Sell the car yourself - put it up for whatever it's worth (what model is it?), if it's worth 16,000, and you owe 14,000 sell it payoff the 14K and pocket the 2K, BUT very important do not pay off the car before you sell it, if you do they can charge sales tax on the remaining amount.
  • emareeemaree Posts: 5
    It is a 2010 Honda LX-P 4 dr sedan with a little under 24k miles
    The dealer said it isn't worth much more than was is owed on it and actually said he would just turn it back over to Honda and not buy it. I dunno..this is all new to me
  • Dealer is lying they will put it on the lot for 16,999 depending on extras you have, on the 2010 LX-P standard is steel wheels, but alloy's are extra, if you do not want to sell it yourself try other dealers. Example, about a year ago lease was coming due on my business partners Camry, he wanted a new one, so he went to the dealer talked to a salesmen asked what his used XLE was worth (Perfect condition low miles), salesmen told him whatever you owe is what its worth at the end of the lease, he told the salesmen "maybe I'll sell it my self", salesmen you can't do that it's a lease, total lie. I told him get online and e mail at least 5 dealers tell them about your car, and you want a new Camry, long story short (I know to late), he got a new Camry XLE, equity on his trade was $2500, paid $500 for first month, and DMV lic., they gave him a check for $2000
  • emareeemaree Posts: 5
    I kind of figured he was just saying that because when I asked him why he wasn't interested in buying it he didn't say much. Kept saying that in order for them to certify a used car is costs them 2k plus adding new tires, brakes etc. I really hate the whole car leasing/buying process when you have to finance.
    Life would be much easier if I could pay straight cash lol
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    automan822 wrote: Sell the car yourself - put it up for whatever it's worth (what model is it?), if it's worth 16,000, and you owe 14,000 sell it payoff the 14K and pocket the 2K, BUT very important do not pay off the car before you sell it, if you do they can charge sales tax on the remaining amount.

    In a lease you are not the owner of the car (no title) so "selling" to a private individual is doable but convoluted: as Edmunds writes in "3-ways-to-turn-your-lease-into-cash.html", "Sell your leased car to a neighbor, friend or family member. This method requires a bit of trust, so it helps to sell your car to someone you know."

    Good luck with this one if the party comes in through your craigslist ad, especially with a draft from a Nigerian bank........ ;)

    You're friend with the Camry did VERY well, the same approach I'm doing myself, but working with dealers - whether through trade/purchase or outright purchase by dealer - I would suggest is not what would be commonly understood as "sell(ing) the car yourself".

    It's already been recommended to the OP emaree that they get a quote from qbrozen over in the Trade-In Value forum here on Edmunds, and your suggested approach is the way to go.

    It's up to them now....... maybe they'll report back in a week or two?
  • Thank you for this information confirming the continuation of the lease figures through the end of the month.

    Even more thanks for the flex-cash alert! :) This explains some of the lower lease figures in the Sunday morning paper.

    Not meaning to be greedy, but I'd like to learn the "flex" amount for the CRV, too. I'll post in the relevant forum.

    Thank you once again.
  • Agree with you 100%, but I have done it twice, one was easy (lease was through Wells Fargo), so we just went into a branch. You can take a chance and payoff (did that on a 2007 Highlander)yourself and get the pink slip, but you do put yourself in the position of paying sales tax if you don't sell the car in a few days, every state is different in that regard.
  • benji123benji123 Posts: 61
    Have the following offers to consider. Good deals, right?

    EX-L: $325 total cash due at signing, $298.17 plus tax
    EX-L V6: $355 total due at signing, $325.69 plus tax

    Always like to vet deals here before going to dealership. Will decide between the two based on test drives.
  • gpsacgpsac Posts: 98
    The 13's are pretty high payment wise. Heck a local Acura dealer advertises TL's for 339 + tax sign n drive for 36 mo.
  • benji123benji123 Posts: 61
    Don't know. I think the technology in the new EX-L likely surpasses the TL. I also think it looks more attractive, but that is entirely subjective. All I'm interested in doing here, though, is determining whether the offers I've received are good.
  • abe16abe16 Posts: 2
    About to lease a 2013 EX-L sedan -- 3 yr, 12K miles per year.

    2k down to inlcude all fees (destination/frieght, tax, tags, + first month of lease).

    Dealer will pay the final two payments of my currrent lease (about $245 a month).

    splash guard, door gaurd, wheel locks, floor mats.

    My payment will be $288 per month.
  • ral2167ral2167 Posts: 642
    Sounds like a good deal. Was your past lease a Honda also? I wonDer when my Camry lease is up in August of I'll be able to get payment even lower.
  • jojo91jojo91 Posts: 1
    What state are you getting these deals in? I live in NY ( on the border of NJ) and the cheapest lease quote I have gotten on the EXL is $349 (incl tax) per month with DMV and first payment at close.
  • Hello,

    Does anyone know the April and/or May MF and residual numbers on a EX-L V6 w/Nav Accord for 36 months & 12k/year? Please assume best possible credit rating.

    Any help would be appreciated.
  • benji123benji123 Posts: 61
    California (Los Angeles). Competitive market, I guess. Have two dealerships offering same deals.
  • jojo91, HOW is tax fpr a vehicle lease computed in your state? That could be some of the difference along with regional ones.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome contract_build.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi badger1994. Through April 30th, Honda Finance's buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Sedan EX-L V6 with 12,000 miles per year are .00107 and 58% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • pilot_bugspilot_bugs Posts: 5
    edited April 2013
    Carman is RV for Accord EXL 4 58% too. I have a question about the acquisition fee.If it is paid upfront it will not be added to gross capitalized cost? Any incentives for April for the Accord? Thanks.

    Kean
  • Thank you for the experience with the WF bank automan822.

    I did more reading on the web and see where this is possible. Can't do it with my lease financed through the manufacturer/dealer but I'll look into a CU/bank maybe the next time round.

    Thanx again!
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    I'm not car_man but ANY inception fees, you mean paid upfront, should be by definition not in the downback c-a-p-i-t-a-l-i-z-e-d number.

    Hope this helps?
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    Good deals?

    You know since you read prior posts in the forum that it's tough to say without more detailed numbers to punch into a spreadsheet, the region you're located, the manner with which taxes are levied, etc.

    Anyway Dude, enjoy your test drives! Let us know how the 4 Cyl compares with the V6!
This discussion has been closed.