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2013 and earlier-Honda Accord Lease Questions

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Comments

  • jim_321jim_321 Posts: 9
    Thanks Badger. I just received another quote via email:

    After the Edmunds Price Promise Discount we would be happy to offer that vehicle to you at $27,606.39 plus taxes and fees.
    That price includes our Lucas Honda Protection Package which includes items such as mud guards, door edge guards, wheel locks and a cargo tray.

    The original dealer was charging $652.00 for the protection package so this seems like it may be promising, dependent on dealer fees.
  • badger1994badger1994 Posts: 17
    edited May 2013
    jim_321,

    Better than a quote, I can tell you what my mother just closed on this evening at New Rochelle Honda in Westchester, NY. The internet quote was $328.76 pre-tax with bank fee rolled in. She negotiated it down even further by taking a car in inventory.

    2013 EX-L V6
    Silver w/black leather
    36 months
    12k/year
    options: cargo net and remote engine start
    $320.47/month pre-tax ($340.82 after tax)
    $1,446.93 due up front (note that the bank fee is rolled into the lease)
    - 1st month payment (post-tax)
    - CT taxes $779.11 (for some reason, they calculate it tax on tax. I can't figure out why. Car_man to the rescue?) :confuse:
    - Plates $152
    - Tire recycle and related docs $87.50
    - DMV $87.50 (Usually $97.50, but $10 less b/c she moved the plates over from the leased car she's returning this weekend.)

    Other: Credit score in the highest tier
  • pandtpandt Posts: 3
    Car Man,

    Can you give me the residual on a 2013 Accord Coupe EX-L V6 with Navigation 36 month lease 15,000 miles? I hope to close a deal very soon! I am assuming the MF is the same .00089 for top tier credit on this vehicle as well. Thanks!
  • bada_bingbada_bing Posts: 8
    Car_man,
    I would appreciate the current May lease residual and MF for a 2013 Accord Sport sedan (6-speed manual) for 3 yrs/12K per mile lease.
  • czl2149czl2149 Posts: 5
    Hey guys. I'm totally new to leasing and I have been debating on financing a new LX stick. The dealer is coming at me with 248 and the only thing down is 772 (all taxes and fees). I'm getting the car for 19990. The dealer adds on top of that 559 for there accessories. There payment is 248 a month for 36 months and 12k a year in mileage. I been messing with numbers using the money rate and residual percent I found on the site and i'm getting a payment of 208 pre tax. Is that right? I'm using the 62 percent residual and .00089 mf.
  • sanman1sanman1 Posts: 69
    Hi Carman, I believe the money factor is .00089 Base Rate and residual is 53%, is this correct? This is for a 13 Accord Coupe no navi. How much more would a 15k lease be from a 12k? In other words if a dealer gives you a lease quote for 12k how much more can they mark up the payment and how is this calculated?

    Also, you say it's good to roll the AHF lease fee of $595 and any dealer fees into the lease payment, is that correct? Do all Honda dealers have 2% holdback? Also, if they quote $27800..including destination which is basically invoice for this car, is that what they paid or did they pay $790 less than the price quoted? Is there good wiggle room of at least $500 less for the cap cost? I got quoted $27800 including dest but not the dealer $699 and $595 finance fee. Basically $29100 and zero down for a $418 payment including tax. I know I can go down a bit from this. What do you think and sorry for the long reply. Oh, is there any Honda cash this month on leases that can be applied? Thanks!
  • huskerfan5huskerfan5 Posts: 163
    I believe the residual is 60% though that won't get you to $248 either. Considering the lease inception fee is $595 and you were told you need $772 at signing, it appears there are some other charges included in your capitalized cost. You need to get a breakout from the dealer.
  • czl2149czl2149 Posts: 5
    Well I picked up the car today and got it for 19900... Trade 15500. I acutally was going to lease it for 233 with the number is mentioned but I decided to finance.. I got it for 200 a month at 60 months. I actually left to with a 1000 check. The financing just seemed more of a good deal since I plan on keeping the car. How did I do?
  • gmanusmcgmanusmc SoCalPosts: 436
    edited May 2013
    I don't understand your math at all - how do you pay 12k in payments on a 19.9k purchase price with 15.5k trade in?
  • czl2149czl2149 Posts: 5
    I owed 5300 on it.. I netted 10200... took a 1000 dollar check so 9200 went down
  • gmanusmcgmanusmc SoCalPosts: 436
    Glad you cleared that up - it makes a difference when the info is complete - it will help the folks in this discussion understand your deal - which, by the way, looks like a very good deal - congratulations!
  • czl2149czl2149 Posts: 5
    Thanks... With the lease though I could have got it for the 233 with 772 down. I Know this is a lease forum figure I would throw it out there
  • huskerfan5huskerfan5 Posts: 163
    Without knowing what czl traded-in, not sure how you concluded that he got a good deal. Frankly, unless someone is getting cash for a real clunker, I ignore any post that involves a trade.
  • gmanusmcgmanusmc SoCalPosts: 436
    You've got a good point - I guess I should've stated he got a good purchase price. He had a few bucks equity, so it sounds like he 's got a bit more common sense than other shoppers weve seen here. If it makes you feel good, I'll go stand in the corner now.

    Take care,

    Bill G
  • huskerfan5huskerfan5 Posts: 163
    Time out is over. Looking forward to your future posts. :)
  • czl2149czl2149 Posts: 5
    LOL All the hate... I traded in my Honda civic 12 ex... I understand how buying a car works... This isn't my first finance just considered my 1st lease.. I figured I would pass some of the info along and help someone else out down the road ..
  • Hi CarMan! I was wondering if I could get the money factor / residuals for these:

    36 months / 12k miles per year

    2013 Accord I4 Coupe EX &
    2013 Accord I4 Coupe EX-L

    Thank you!
  • palciparumpalciparum Posts: 8
    I have honda civic 2011 lx that I leased for 36 months. My term ends this year end. I am buying new car - not Honda. I have already used 36,000 miles per my lease.

    I had an accident and I took it to body shop the one Honda recommened and got it fixed.

    I want to return it before lease ends as I don't want to pay unnecessary insurance.

    I leased it for 1st time in my life. I paid zero down and first 3 1/2 months installment was paid by dealer. I paid $199 per month - with tax $212.56

    Any advise before returning!
  • gmanusmcgmanusmc SoCalPosts: 436
    You do realize you are still obligated to pay the remaining lease payments, right?
  • mrsuribemrsuribe Posts: 4
    I'm in the same situation & have gone to Carmax to get a quote on what they'd buy it for...and it turns out, for my situation, I'm better off selling it to Carmax than returning it to Honda. You might want to check that option out.
  • palciparumpalciparum Posts: 8
    I have made all lease payments in advance. Can I just return it?! Is it that simple or am I missing something?!
  • kyfdxkyfdx Posts: 29,936
    It's usually not that simple. Returning it prior to the last month may trigger an early termination clause. That could result in them sending the car to auction, and you being liable for extra charges.

    The Car max suggestion is a good one. If they buy the car, then your obligation would be complete, and you could possibly realize some equity above the buyout amount.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • kyfdxkyfdx Posts: 29,936
    Really...

    A car lease is a contract with a bank.. They will use every opportunity to maximize their profit, if the contract isn't completed as agreed upon. Common sense has little to do with it.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • huskerfan5huskerfan5 Posts: 163
    Can't hurt to contact the leasing company. Since you have already made the remaining payments, it's in their best interest too get the car back sooner. Should they accept the car early, just make sure you have something in writing indicating you have no further liability. Have to admit that I'm wondering why you would have made lease payments up front and why you would want to get into a new car now rather than wait till your lease is up.
  • jaxs1jaxs1 Posts: 2,697
    Unless the car was over mileage, why would there be extra charges if he already made the payments? The car will be newer and since the value drops a bit every month, it would be worth more when returned early than it will be at the scheduled lease termination date. They will be able to resell or auction it for a higher price than they will be able to later. So, there is no "loss" to them for an early return.

    They should actually be benefiting from an early return.
  • kyfdxkyfdx Posts: 29,936
    All of what you say is true..

    But, if you turn it in early, then you haven't completed the contract. They can invoke the early termination terms, and may do so, if it benefits them. They may have insured the residual, which they may not be able to collect on, if the lease is terminated early.

    Or, they might do it for the regular reason. Because they can, and because they make more money.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • eka1eka1 Posts: 28
    @kyfdx
    Honda does NOT have an early termination fee, as long as all the payments are made. If you think about it they rather have the car earlier cause they got all there payments and getting the car earlier then the lease ends.
  • huskerfan5huskerfan5 Posts: 163
    eka, you're missing kfdyx's point - there may be more to this lease than appears. kfdyx brings up the point that the leasing company may be insuring the residual, essentially hedging it's potential loss that the car may not be worth the expected residual and that by taking the car in early, it might jeopardize the insurance payment. We don't know if this is indeed the case, but he's surfacing a potential issue. As for Honda not having an early termination fee, I don't think we know at this point if it is a Honda lease.
  • etrout85etrout85 Posts: 5
    edited May 2013
    Good deal? Bad deal? Southern California BTW

    So I went back and forth with the floor manager at a honda dealer for about 1 hour...

    The Best LEASE offer he gave me before I left in good terms was...

    Accord 2013 LX

    430 due at signing that including all upfront fees (included registration fee) WHICH INCLUDED first months pay (idk what to think of this).
    367 a month for another 35 months
    Gotta get rid of my trade in which is a financed Jeep Liberty 2011 Sport no extras RWD w/ only 27k miles (yes horrible car, i know). This is what is holding me back but i have to get rid of it since I just want one car. 17.2k is left on the loan but the value the dealer gave me (after i negotiated its value up since they agreed its in awesome condition) is 14k. Difference of 3.2k (negative equity) is being added to the lease offer which is basically 88.89 (3200/36) additional charges to the monthly payment.

    12k mile allowance a year
    No additional warranty or maintenance cover.

    THE OTHER DEAL:

    Talked to another Honda Dealer Floor manager. This guy said same deal, but no down payment or no inception and no first months on delivery. DID NOT MENTION ANY OTHER FEES (i was stupid i should of asked).

    How much is the usual registration fee.

    The math they r using on me:

    (23270 - 14427.4 ) / 36 = 245.63

    (23270 + 14427.4 ) x 0.00089 = 33.55

    3200 / 36 = 88.89

    12k miles a year. No talk about deposit, idk if this is a bad idea or not. I usually maintain my cars pretty good. They r firm on the car's cost because they keep saying "lease = sticker. no1 will negotiate the car's cost on a lease".

    Wanna know what you guys think. Keep in mind, I have to get rid of the Jeep so it has to be part of the deal. Fastest way is thru a dealer. I know I can maybe get more if I were to sell privately but that would be complicated because the car is on lien.

    If I am wrong on anything, please correct me. If I possibly forgot to mention something, remind me :). Also I live in southern california (if it matters)

    TY in advance
This discussion has been closed.