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2013 and earlier-Honda Accord Lease Questions



  • Thanks th83

    This helps greatly

    so based on your number of net capcost 23681
    if my down payment is 2000 than the net cap cost would be 21681?
    also im trying to figure out the math you did to get $286 a month...

    is it net cap cost - residual /36
    Residual Times Money factor

  • th83th83 Posts: 164
    Use the calculator at, it's much easier to use. Otherwise, it's ((Net Cap Cost - Residual)/36) + ((Net Cap Cost + Residual) x MF) to get the base monthly payment before tax.

    Your down payment of $2000 includes other fees, including the first month's payment unless you're putting down $2000 plus fees. Then your net cap cost would be $21681, but then you'd be putting down closer to $3000. I don't recommend putting down that much money on a lease. Should something happen to the car and it's totaled, you'll lose all the money you put down as your insurance company will not reimburse you for that amount, only the payoff amount on your lease. If you must put money down, I'd say keep it to a minimum. The lease deal I negotiated for a 2010 EX sedan is $284/month with $600 total out of pocket. I don't even want to put down that much money, but doing so puts the payment right around what I'm paying for my current lease (I put $2200 down on my current lease and I will never do that again, I know better now).
  • albert72albert72 Posts: 141
    Good morning Car Man. I have narrowed down the list of cars I would like to lease and the Accord is one of them.

    Can you tell me the MF and residual on a 2010 Accord EX-L Sedan for both the 4 cyl and V6 models? No NAV for either one.

    Lease I would like is 36 months & 36,000 miles. Can you (and other readers) tell me what a reasonable price should be for this vehicle as well - again looking at No NAV but the cars will have automatic transmission?

    Thanks for your help.
  • cmhondacmhonda Posts: 31
    2010 Accord LX

    216 a month 36 months/12K per year

    2199 down?

    Is this a good deal?
  • gpsacgpsac Posts: 98
    what kind of car insurance do you have that it pays off your balance? no matter what the car is actually worth before it is totaled? mine only pays what the car is worth. if it's worth more than the balance, cool. if less, then the lease has gap coverage.
  • cmhondacmhonda Posts: 31
    When you lease, Gap insurance is included in the price of the car, the dealer pays for that.
  • gpsacgpsac Posts: 98
    thats what i just said. but the dealer doesnt pay for the gap coverage. you are paying for it. its built into the lease by ahfc.
  • cmhondacmhonda Posts: 31
    We've been going round and round about leasing an Accord.
    Well we decided not to because it was a bit more then what we wanted to pay and we fixed the spare car.
    So today we get a call from the dealer offering 160 a month for 36 months and 750 down.
    I am so tempted by this offer!
    Any advice
  • gpsacgpsac Posts: 98
    Even assuming the 750 is actual down payment (capitalized cost reduction) 160 @36 is like 45 a month below invoice (according to Edmunds invoice) which is like 1600 below invoice or just under 19k.

    My gut says they're BSing you to get you in. Honda has very little competition in the lease area and don't have to give their cars away. On the other hand, if they are passing 1500 to the dealer like the 09's, then I paid way to much! :surprise:

    Spent several hours myself yesterday getting an 10 LX auto sedan for roughly 600 over invoice. Came to 232 + tax @ 36 12k. 1000 out of pocket (450 cap red and the rest 1st, lic, FL tax and fees)
  • cmhondacmhonda Posts: 31
    This is for a 2009 Someone told me they are doing 2250 dealer cash for 09's

    For a 2010 we had them at 218 (including tax) a month with 1000 down
  • gpsacgpsac Posts: 98
    Marketing support is on 09's only and is 1500, not 2250. I think that "someone" is jerking you around.

    With 1000 down (assuming you mean "down" and not first, lic, etc) 36mo @ invoice would be 199 + tax. 10's have been out only a few weeks and you passed on an invoice deal? No offense, but what else is out there to pick from that you would actually want to drive for $218 a month?

    I find it amazing. The dealer I was at yesterday said they do very little leasing! The fact that someone would actually "buy" an accord with the lease support Honda provides is incomprehensible. I guess unless they have poor credit. I mean compare 218 to what one would pay to finance this deal at the 2.9% Honda is offering on the 09 &10 Accords. At invoice with 1000 down (and not including sales tax) the pymt would be over 350 a month for 60 mo! "Yea but after 5 years I own it!" Own what? A five year old car with 70 -80k miles on it? And how much would you put into that car to keep it going 5 yrs? How many trips to the tire store? The brake store? And then the hoses, belts, filters and flushes. Let someone else do it I say!

    To be honest I thought about it myself. I thought, "If I financed it I could pass it on to one of the kids." Then I woke up! They can get their own damn car! :)
  • cmhondacmhonda Posts: 31
    The thing is we are on the fence about buying a car at all. This would be to replace a car that works fine, just old, and starting to give us problems, but it is paid for, so going from 0 a month to 218 a month (plus an increase in 35 dollars insurance per month) for us is a major decision.

    And when I say "Down" I meant out of pocket, meaning walk in with a check for 750 dollars and leave with the car and a payment of 160 a month+ tax for 36 months/12000 miles per year, 2009 Accord LX.

    And that is WITHOUT our trade, they said they would give us 800 dollars for hubby car (I think his car is worth about 3 dollars to be honest! haha so 800 is a good deal) so it would 100% cover our out of pocket, and we'd have 50 left over.

    I bet the only color they have left is one we refuse to drive, like gold or burgundy. :cry:
  • cmhondacmhonda Posts: 31
    Here is my information about dealer cash from a friend that is a Honda Car Salesman

    Dealer cash on Accords just came out on the 2009 models only. If you lease a 4 cylinder 2009 Accord right now, the dealership gets $2250 from Honda. So they can give it to you without the $ down, because they are getting that $ back.

    The dealer cash to BUY one right now is $1500 (4 cylinder) or $750 (6 cylinder), and to lease a 6 cylinder is $1500.

    Just an FYI in case that were to help you (or anyone else) negotiate a deal. Basically, you *could* get a 2009 Accord for up to $2250 off of invoice right now and the dealership wouldn't lose $. That's how I pay so little for cars.
  • gpsacgpsac Posts: 98
    Well.... Let's assume your salseman friend is not smoking something :)

    and Honda has up'd the marketing cash to 2250 (on the few remaining 09 LX automatic sedans available). And let's assume the rate on the 09 is the same as a 10 at .00133. That the residual is 55%.

    And finally that you can get one for invoice (20,398). That they will give you all the 2250. And all you have to give them is 750 cash or trade allowance. And that your first payment is included in the 750 and there are no other fees at all. Leaving you with even a 590 cap red (down payment). That still comes to 194 (incl 7.5 tax).

    To get to 160 (inc 7.5 tax), they would have to further reduce the price over 1200! Damn woman! I don't care if it were pink or purple! I'd be drivin it! Ok. Maybe not. :)
  • cmhondacmhonda Posts: 31
    Does it make a difference where we are located. I'm not sure if Florida has the 7.5% sales tax on cars. However, this quote came from Mobile, Al so I think they do, so that would be pointless either way.

    I know we have been price haggling back and forth for a few weeks now, gone in several times, to talk numbers, but never commit to buy.

    At first they were pushing us into a 10, and now they seem to want to push us into an 09, so I think there must be something going on.

    Hubs said if he calls on Monday and that is the TRUE price, no extra hidden fee's he will have a new Accord on Monday!

    This is the email from the dealer.

    I have a new price for you on the 2009 Accord, just found out about it.

    $160 a month for 36 months plus tax with $750 out of pocket.

    Give me a call.
  • gpsacgpsac Posts: 98
    I'm in Orlando and the tax is 6.5. Only on the payment and any down (cap red).

    I agree with Hubs! If you can get anywhere near that deal, get two! ;)
  • cmhondacmhonda Posts: 31
    I was saying I should sell my 06 Honda O, I owe 15K on it, so I think I have some value, and we can get two new Accords for less then I pay per month for my Honda O. But then I realized I have the kids most of the time in my van, and it looks like a bomb went off in the van from them, so I guess I'll just keep my van. dang kids!
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,355
    The current Accord leases are incredible but you did distort things a bit here.

    Yes, after five years you do own it since you didn't "rent" it.

    " Own what" ? Well a 70- 80,000 miles Accord is just getting started in it's life.

    " Who much would I have had to put into it?" Not much really.

    " How many trips to the tire store?" Oh, probably ONE at 50-60,000 miles.

    Hey, I lease mine and I'll probably lease my next one two months early because of this deal but there are advantages both ways.
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,355
    " Dang kids"??

    Don't them get away with trashing your car! ;)
  • cmhondacmhonda Posts: 31
    haha nope! I have 3, ages 8, 5, and 2. And they can do a number! I tell you! Plus we travel A LOT in the van, sucks about being a military family, you get to put tons of miles on your car every holiday visiting family. My van is 3.5 years old and I have 54K on it. I do not think I could manage 12K per year.
This discussion has been closed.