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2013 and earlier-Honda Accord Lease Questions

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Comments

  • Thanks - horrible rates :)
  • albert72albert72 Posts: 141
    kyfdx,

    Can you tell me MF and Residual for the following:

    3 yr 36k for 2014 4 cyl EXL - No Nav

    3 yr 36k for 2014 6 cyl EXL - No Nav

    Thanks,
  • kyfdxkyfdx Posts: 29,217
    I'm sorry.. the only 2014 Honda Accord info that I have is the money factor, which is .00160..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • albert72albert72 Posts: 141
    Thanks kyfdx. I will check back, hopefully in a few weeks the residuals will be available.

    Also, even though I am leasing, any suggestions on what price I should target for the negotiation? Is $500 - $750 below invoice too ambitious?
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,758
    No .......... Target price could start at 750 below and work your way back towards invoice price. Supply and Demand and your area will be a key factor in pricing. Check out Accord prices paid forum for your area's prices and buying advice and tips on buying.

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

  • albert72albert72 Posts: 141
    Was hoping you can tell me MF and Residual for the following:

    3 yr 36k for 2014 4 cyl EXL - No Nav

    3 yr 36k for 2014 6 cyl EXL - No Nav

    Also - would MF and residual change for a single pay lease? I am assuming not and to calculate the payment I am thinking I just subtract the finance fee out of the regular 36 mo lease since the single payment is up front.

    Also - for all of you long time Honda leasing customers some things have changed. As of October 1st, the wear and tear allowance has been decreased from $1500 to a flat $500 in addition, at the end of the lease there is now a turn in fee of $350.

    At the end of your lease if you get a new Honda (Lease or Buy), the turn in fee is waived and the wear and tear allowance increases from $500 to $1000 on the vehicle you are turning in.
  • kyfdxkyfdx Posts: 29,217
    2014 4 cyl EXL 36mo, 12K/yr lease
    .00073 MF and 57% residual.. the V-6 residual is 56%

    The one-pay lease money factor is .00001. Calculate the lease as a normal 36 month lease, using that money factor, then multiply the payment by 36 to get the One-Pay amount.

    In general, you can't just subtract the finance charges on a One-Pay lease, because even though you are paying the full lease amount upfront, you aren't paying for the whole car (like the bank is doing). Though, in this specific case, they are effectively deducting the finance charges.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • albert72albert72 Posts: 141
    Thanks for the info kyfdx, greatly appreciated.
  • Please let me know if the below deal is a good one.

    Accord LX - CVT
    Monthly payment - 240 Incl taxes
    Down payment - 0$
    Lease term - 36 months
    miles - 15k per year

    Net cap cost - 20050
    Money factor - 0.00031
    Residual - 59%
  • drumzdrumz Posts: 10
    Hi,
    Does anyone know the current Money Factor and Residual for a 2014 Accord Sport Sedan with CVT for 12k mi/yr for 36 months ?
    Thanks
  • kyfdxkyfdx Posts: 29,217
    2014 Accord Sport Sedan 36mo, 12K/yr lease
    .00073 MF and 58% residual

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • albert72albert72 Posts: 141
    Do the LED Daytime running lights on the EXL V6 throw a lot more light at night than the 4 cyl model which has only traditional halogen lights?

    Also, this seems like a pretty good lease deal at Weymouth Honda outside of Boston.

    2013 Accord Sedan EX-L V-6 Special Lease
    $277/month with $1,000 down
    Automatic Transmission. Excludes Tax, $595 Lease Acquisition Fee, $125 Registration fee and $239 Documentation fee. 36 months - 12k miles/year. Expires 11/21/2013.
  • Seems like a pretty good deal.. I just finalized my lease today. Don't have all the details but here is my deal:

    2014 Accord Sport Auto in hematite

    36month / 15k per year

    0 down - no trade

    274.93 a month.

    I was between this and an ex-l which was only 28 more a month but I just liked the look of the sport better.
  • brian125brian125 New york / S.C. myrtle beachPosts: 2,758
    yes i have the V-6

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

  • albert72albert72 Posts: 141
    Thanks,

    I am going to start going to the dealers right after Thanksgiving. Are the money factors good through the end of the year and if not, do you know when they expire?

    I appreciate your help.
  • cpaincpain Posts: 6
    Can someone give me the details on the currently advertised lease deal on a 2013 Accord LX CVT with 12k miles per year for $199?

    http://automobiles.honda.com/current-offers-detail.aspx?ModelName=Accord+Sedan

    The website says
    $1999.00 total due at lease signing. But it also says excludes tax, title, registration, documentation fees, and the like which worries me that they will try to con me into paying expensive weird fees to get out door.

    MSRP: $23,270
    Net Capitalized Cost: $19,600.96
    Net Cap Cost Includes: $595 acquisition fee (not sure what this means)
    Option to Purchase at Lease End: $12,798.50 (is this the residual value?)

    Can someone chime in on what the money factor on this deal? Is there any Honda dealer cash that I can negotiate for on this deal?

    Thanks!
  • What is the current MF and residual on the 2013 Accord coupe EX Manual in Lehigh Valley, PA?
  • kyfdxkyfdx Posts: 29,217
    2013 Accord Coupe EX 36mo, 15K/yr lease
    .00031 MF and 51% residual

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Thanks kyfdx much appreciated
  • Can you tell me if this included tax. Also, if it's in LA. Thank You. Hope you are enjoying your Accord.
  • I can give you an idea what this means but others on the board could give you more details. The tax is the tax on the monthly amount of your payment. The title and registration is what you have to pay when you buy a car. Every year thereafter you have to pay the registration on your car. Documentation fees vary between dealers. I have seen $80 to around $240 posted on this board. The 12798 payoff after the lease end is what you would pay plus the tax on that to acquire the car. If you were to go the zero down route that payoff amount would be higher. There is also a small tire fee. When they say dealer contribution may vary, that has to do with basically the profit for the dealer. I would say the extra shouldn't be more than 800 plus the 1999.
  • My son recently completed and signed a new lease for a Honda Civic. He has been a loyal Honda Customer and this is his third Civic. He negotiated the price for the new Civic, provided the first month’s payment and drove off with his new car. A week later, the Dealer called back stating that Honda Financial decided “NOT” to honor the contract due to his credit score and that he needed to return the car. This is after they had cashed his first payment!

    By way of full disclosure, he had previously been laid off from his job during the summer and had been late with a few payments. He has since found a great position and is again working full time.

    What we can’t understand is “HOW IN THE WORLD” did the Finance Manager at the Dealership review all of the numbers, then sit down and have him sign all of the paperwork, give him the keys to his new car and now say that they don’t want to stand by the lease. And in fact, he needs to return the car? There was NEVER any discussion as to the lease being ‘dependent’ on Honda Financial having to review the loan first. There was NOTHING in all the paperwork that he brought home including the lease agreement indicating that the lease was ‘pending’. And, as I have mentioned, they cashed his first payment???

    Why would they let him drive off the lot in a brand new car if there was a question OR, if something was still pending?

    We believe that it is an issue that the Dealership needs to take up with Honda Financial and it was their mistake. The Dealership is stating that ‘oh, we are sorry but you have to return the car’! Does my son have any recourse?

    Thanks in advance for your inights and suggestions,
    RTS in Charlotte
  • MichaellMichaell ColoradoPosts: 5,659
    This is known as a 'spot delivery' and it happens all the time for both regular purchase financing as well as leasing.

    The dealer is hoping that when they want the car back, the customer will have fallen in love with it and resign paperwork at a higher price, rate or payment.

    I don't think there is much recourse as the deal isn't financed. Do you know what your son's credit score is?

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
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  • gmanusmcgmanusmc SoCalPosts: 436
    Hiker - you've been providing some great info and advice but just to clarify and make sure no one misunderstands - the residual (what you referred to as payoff at end of lease) is not affected by how much, if anything, is paid at signing to get into a lease. The residual is a percentage of msrp set by the lessor based on the estimated value of the vehicle at lease end. The length and mileage terms of the lease do, however, affect the residual percentage.

    Bill G
  • Thanks for the information. It looks like there isn't much recourse since the lease wasn't finaliized with the 'loan' through Honda Financial. My son's credit score is 654.
  • MichaellMichaell ColoradoPosts: 5,659
    Talk to the dealer .. they may be willing to re-write the contract with a higher money factor, which would increase the payment a bit.

    Keep us posted and let us know how it all turns out.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • orthopraxisorthopraxis Posts: 4
    edited December 2013
    I have been reading and learning, but need a little guidance...

    Dealer is offering the following…

    2014 Accord Sport (located in mid-Missouri)

    36k/3yrs

    MSRP 25,305
    Selling 22,500
    LEV RT / AMT 58%, 14,676
    MF .00063
    Capped Feeds 694
    Adj. Cap, 23,194
    Upfront fees (not sure what this is) 112.50
    Amt. Due at start 372.95
    Pymnt 260.45 (tax not included)

    Any thoughts would be much appreciated!
  • gmanusmcgmanusmc SoCalPosts: 436
    Selling price is not too bad at 700 below invoice. Residual and money factor ok. All in all not a killer deal but not that bad. Have you tried multiple dealers to get some competition going? Do any dealers have the 500 flex cash left? Would lower your payment to around 245 plus tax.

    Bill G
  • Bill,

    thanks for the feedback.

    I have tried, but have not pushed too hard. There are two dealers within 30mins, then its another 2hrs to quite a few. I feel somewhat restricted...

    The dealer who gave the quote I listed in my first message adamantly refused to do anything further on the price. I told him that I felt they could reduce the selling price further, but they balked.

    I sent the numbers to the other dealer and he said, sure we can beat it, but has not come back with new data.

    I do have a 2011 Accord LX-P that will be coming off a 3yr lease with 32k with an approx. 14.2k buyout. That car is in perfect condition. I did not include that in any discussion of the new deal...not sure if that is correct.

    Thanks.
  • gmanusmcgmanusmc SoCalPosts: 436
    Your 2011 is probably worth only 11-12k on trade in so turning it in at lease end is probably your best option. You might be able to get a few hundred more off the selling price working with your two local dealers. Give it a try and see what happens. The deal you have is not that bad so you're probably not going to get much more - that sport model is nice.

    Bill
This discussion has been closed.