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2013 and earlier-Honda Accord Lease Questions

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Comments

  • mnz1999mnz1999 Posts: 12
    edited July 2013
    here is the info
    36 months 24K miles/year
    MSRP: $26,195
    Sale Price: $23,524
    Residual Value $12,231 (47%)
    MF: .00075
    Tax 8%
    Bank Fee: $595
    Doc fee: $75
    DMV 172.50

    Monthly Payment of $375 (only 35 payments coming out of my pocket. sign and drive. first payment and everything else rolled into the payment).
    if i am reading it right...Weymouth Honda's website quote is $397 (including 8% tax and zero due at signing.
    what do you think?

    thanks
  • gmanusmcgmanusmc SoCalPosts: 436
    I'm sure huskerfan will chime in but in my opinion, to be able to drive an EX for 3 years and 72000 miles for around 18 cents a mile sounds like a sound decision on your part - especially given the perks Honda allows on lease turn in.

    Congrats!

    Bill G
  • km38iakm38ia Posts: 16
    I'm in southern Cali
    Cerritos Honda
    Kendra was my dealer
  • huskerfan5huskerfan5 Posts: 163
    Assume you have also looked through the Prices Paid forum but if you are comfortable that the sales price is competitive for dealers in your area, go for it.
  • pacinpelopacinpelo Posts: 142
    CarMan (or those who are in the know)... I notice that Honda's current incentives are dated thru 9/3/13.. do you think then they are all in with their 2013 model clearance closeout incentives OR could their be something in August.... looking to time an end of month deal...
  • runnerratrunnerrat Posts: 3
    I've been reading this forum for awhile, but have finally reached the need to post. I'm shopping for my first car and want some feedback and where I might further negotiate as well as other questions to ask (or things to try and get included) about the best deal I've been quoted so far on a 12K, 36 month lease for a 2013 Accord LX. Details are as follows:

    1) Capitalized Cost: $21,033.30
    2) Cap-cost reduction: $0
    3) Money Factor: 0.00075
    4) Residual Value: $13,729.30
    5) Total due at signing $0
    6) Monthly lease payment including Local County tax: $228
  • was bankfee ,doc fee everything included in lease. one of our local dealer has ad for 169 for LX

    ALL New 2013 Accord LX 4 Door
    Automatic * Bluetooth * Rearview Back-Up Camera * Front Side Curtain Airbags Air Conditioning * Power Windows/Locks * ABS Brakes * AM/FM/CD * Cruise Control Keyless Entry With Immobilizer Theft Deterrent System * Alloy Wheels
    2013 Accord LX.jpgFree Oil Changes & Unlimited Car Washes

    Lease For Only $169 per month/36 months** NO MONEY DOWN

    Subject to Tier 1 Credit Approval.**Based on 36 mo lease, 10K mi/yr @ .15 additional. Total payments $6,084. Residual $15,719. No Money Down! Just taxes (NJ $519.96, PA $668.52), Doc Fee, DMV Fee & Bank Acquisition Fee $595. MSRP $23,270. Prices include delivery & prep fees, up to $1500. In wear termination included. Full Gap insurance protection. Expires 7/29/13. No two offers combined.
  • runnerratrunnerrat Posts: 3
    That looks like a great deal, but 10K miles/year is too low for me. I need closer to 1,000/month. I've gotten a few responses from other dealers when I discussed my current offer, and it seems it is about the best anyone is willing to offer. Ideally, I'd like to bring it down a bit more, but no one seems to be willing to budge further.
  • gmanusmcgmanusmc SoCalPosts: 436
    Runnerrat - looks like a good deal - when you factor out Honda's lease initiation fee of 595, your selling price is more than 1000 below invoice. There's been some talk of deals reaching 1500 below but I don't think that is common. If you were able to get another 500 off it would bring the payment to around 215.

    Good luck!

    Bill G
  • huskerfan5huskerfan5 Posts: 163
    Taxes (519), doc fee (est 300), DMV (est 300) and Bank Fee (595) is a total of $1,714. Putting that into the lease would add about $50 bringing it up to $219. Add about $12 a month to go to 12K per year brings you to $231. Runnerrat is at $228 but probably with a lower sales tax but he has zero due at signing so it's actual 35 payments @ $228 vs 36 @ $231. Since runnrerat would be paying more if he was in NJ, I'd say these deals are very close.
  • pjny77pjny77 Posts: 12
    Ok...just for "you know what" and giggles...I emailed the internet sales department of a dealership by me. I requested a quote on a 2013 Honda Accord Sport with 15k miles/yr and zero down. Within one hour, I got a quote of $285, zero down. In addition, the salesperson explicitly says that I must come in to further negotiate the deal.

    So here's my question, what should my next step be in terms of negotiating? I'll be honest, $285 is well below my monthly allowance that I was hoping to stay under, but I know I can get them down more since that's their first offer.

    I don't know if this number includes tax, but I'm assuming it doesn't. What should I ask to see when I walk in to meet with them?
  • pjny77pjny77 Posts: 12
    I know there are all kinds of fees I forgot to mention above that I'm not factoring in, but if I can get them to also include those in the lease deal and essentially do a "sign and drive" deal, I'm all for it. I'm just not sure what angle to take.
  • gmanusmcgmanusmc SoCalPosts: 436
    Negotiate your best price (1000-1500 below invoice) and if you get their best lease factor, you will have a good lease payment.

    Bill G
  • pjny77pjny77 Posts: 12
    Can someone tell me what invoice price is for the 2013 Honda Accord Sport? Or tell me where to look?
  • gmanusmcgmanusmc SoCalPosts: 436
    Go to the new cars section on this site and click your way to pricing for your model.
  • pjny77pjny77 Posts: 12
    I just stopped by the dealer during my lunch break and was given a money factor of .00075 or 1.8%. I know that's a great rate, but is there a way to determine if it's the best rate I can qualify for? My credit score is in the low 800's (I checked 2 weeks ago).

    This is for a 2013 Honda Accord Sport, 15k miles/yr, CVT.
  • gmanusmcgmanusmc SoCalPosts: 436
    I believe that is Honda's money factor right now for those in their top credit tier. If you can negotiate a good selling price to around 1000-1500 below invoice, you should wind up with a good lease deal. Don't forget that on a lease, there is a 595 lease activation fee that is added to your agreed to selling price and is not negotiable. Some dealers also have that $500 flex cash to sweeten the deal a little. The flex cash might get you to the 1500 below figure.

    Good luck!
  • pjny77pjny77 Posts: 12
    OK...in the last 24 hours, I've visited 2 separate dealers and walked on both based on them not wanting to negotiate on their selling prices. The vehicle is a 2013 Honda Accord Sport, MSRP $24,980, invoice, $22,928 (including dest.)

    One dealer came in at $500 over invoice and the other was $300 over invoice. This morning, I got a third selling price for $100 under invoice. I'm making progress, but I feel like I won't come near $1,500 under invoice.

    Based on Truecar and Edmunds...this vehicle has been selling for $22,729 - $23,449 based on my zipcode (NY-Westchester).

    Am I being unrealistic with my target selling price?

    My intent is to lease, 15k miles/yr, 36 months.

    The money factors and residuals that I have been quoted with are:
    .00075 with 58% res.
    .00065 with 56% res.
  • huskerfan5huskerfan5 Posts: 163
    Suggest you post your experience in the Prices Paid forum at this point. Many people over there don't look a the Leasing board.
  • user404user404 Posts: 17
    Hey guys,

    Leased this car yesterday and made a post on "Honda Accord Prices Paid" forum. Will not waste valuable storage space here, so here is the link to the post.

    Appreciate all of your help!
  • pacinpelopacinpelo Posts: 142
    any updates on August from Honda on 2013 Accord EXL V 6
  • gpsacgpsac Posts: 98
    $500 over, $300 over and $100 under? maybe I'm not following. How is that not negotiating?

    Unless dealers are getting $1500 from Honda, uh yes. You're being unrealistic. You realize that the 1400 diff from your beat offer is only like $40 a month?
  • gene103gene103 Posts: 47
    pjny77 has been to the Prices Paid board and realizes that none of the dealers he's visited are competitive with the current market. Apparently, you don't have a clue what the market is and how invoice price may not be even close to what the dealer is actually paying. And a $40 difference in a monthly lease payment doesn't mean anything to you? You are going to make a salesman and dealership very happy when they finish dealing with you.
  • gpsacgpsac Posts: 98
    No. Not when I compare it to other expenses. $130 for cable, $140 for 4 cell phones, $160 electric, etc., etc.. I'm driving a 2012 EX for $242 a month for 36 (incl tax 0 OOP). That's freeking awesome IMO. Get a new Accord every 2 - 3 years for the past 20 years. Of course I do my due diligence every time and get the best deal I can "locally" and I usually can't do what sites like Weymouth Honda might show but, over 20 years I've averaged about $250 a month to drive a new HONDA ACCORD every 2 - 3 years. That's a TON better than what 90% of the Accord BUYERS do at $400 - $500 a month.

    Now I don't even know what the current dealer incentives are, but I do know that dealers (every make) are in the red on new car sales nationally for many years. That's the cost they pay for that big sign out front giving them the opportunity to sell used cars (which they do profit on), service, maintain and perform warranty repairs. The only way you are gonna get $1500 below invoice is with manufacturer subsidies. You’re saying the current market is $1500 below invoice? Does Honda currently have $1500 dealer cash on Accords? If they do then of course I would expect most of that in my pocket.

    My new Honda Accord every 2 - 3 years has always given me a dependable and comfortable vehicle to get to and from work at an extremely reasonably price. Enabling me to pay those outrageous other fixed monthly expenses.
  • gene103gene103 Posts: 47
    so you want a great lease deal on a Honda, but it's no big deal that others pay $40 more. And where exactly dd you come up with 90% of lessees paying $400-$500?
  • Local dealer in MD, EXL with Navigation $25595. I think its an OK price considering we are only in August.

    Just wanted to share this.
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,432
    gpsac,

    Come into the Honda prices paid forum you need to educate yourself on pricing. Most 2013 Accords are selling between 800 below invoice on the low end to as high as 1700 below invoice price. plus another 500 dollar flex cash incentive to finance thru honda if dealers have it to give.

    2013 Genesis 5.0 R-spec, 2013 Accord EXL V-6, 2012 BMW x-5, 2012 ML350

  • kevinkk123kevinkk123 Posts: 3
    edited August 2013
    the selling price is good, but your monthly payment is no good. according to the residual value and selling price, the depreciation value is 7362. divide it by 36, and plus the 33 dollar interest, your monthly payment should be 238 plus tax. you're over paying it. I'm sorry
  • huskerfan5huskerfan5 Posts: 163
    Kevin, your contributions will certainly be welcome on the board, but please be timely, his deal was five weeks ago. And, please be accurate. The cap cost of his car is $25,693. Your calculation is way off.
    I know he says zero due at signing (which would mean 35 payments at $315), but I think he meant nothing else paid at signing except for the first month's payment because his lease is coming to 36 payments a $315 including tax just as he said.
  • I just found out about this forum. I had started shopping for a lease and was really bummed out when the advertided lease amounts are $279 with 0 down (Kia) and once you get to the dealership and they factor in a bunch of things you end up with a $400+ lease amount... pretty far from the numbers advertised. I also thought nothing could be negotiated for lease.. boy was i wrong.

    So here it is, i was at Honda today and i got the following quote on an Accord LX

    The problem is i don't know what capitalized cost they used. So it's difficult to know whether i'd have some leverage there or not.

    So with a residual of $13729
    And tier 1 money factor (again not sure what rate they used, he just told me tier 1)

    The offer is $289 + taxes... which would end up around $320/month. I am really targeting $300 tax included and with $0 down.

    Do i have any leverage? Maybe bump in the residual a bit?
This discussion has been closed.