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2013 and earlier-Honda Accord Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey ihitcows. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L 4-cylinder with 15,000 miles per year are .00046 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    You definitely do not want to lease this for 39-months...its special lease money factors are only available for up to 36.

    When negotiating your car's selling price shoot for a selling price that's pretty close to dealer invoice minus the available $1,250 dealer cash.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I certainly can kayc2. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 202 Accord Sedan EX 4-cyl. with 12,000 miles per year are .00046 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    There is $1,250 dealer cash on this car right now.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're right, SergeyM, that is not an official Honda lease program. One is definitely best off negotiating a selling price of right around dealer invoice minus the $1,250 dealer cash and the use of the buy rate lease money factor and forgetting about all of the dealer funny business.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Is the buy reate lease money factor the same as money factor? If not, what is the difference?
    Also, can someone please provide the residual value and money factor for 2012 Accord LX Sedan?

    Thanks
  • I see your point about putting little money down. So, are you recommending that if I have a trade-in, I should sell it privately and not as part of the lease?
    Thanks!
  • Just starting out. Sending emails to dealerships all over NJ. This is the first bite I got. Need at least 15k miles, also thinking about buying.

    2012 Honda Accord EXL Automatic Sedan for 36 months with 15,000 miles per year:

    With $1000 out of pocket, your monthly payment would be $290/month including tax.
    With $2000 out of pocket, your monthly payment would be $260/month including tax.
    With $3000 out of pocket, your monthly payment would be $230/month including tax.

    Thoughts? Advice?
  • davidc12davidc12 Posts: 3
    Here's a great tool I found when shopping for my Accord. They have a very cool finance and lease calculator and great prices. I'm in Atlanta so I just used them as a reference:

    http://www.weymouthhonda.com/lease/?&leasetype=2&code=CS1B8CJNW&view=detailed
  • pegasus17pegasus17 Posts: 536
    REF: 4764
    A price comparison for you from Ohio. Scroll down this "specials" page to see your EX-L model. Then add an additional $17 per month for 15k per year vice 12k. Your initial prices are high IMO.
    http://www.vosshonda.com/specials/index.htm
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Yes, mikeymikey. The buy rate lease money factor is the lowest possible money factor that is available on a given vehicle. I always say buy rate because dealers are often allowed to mark up banks' published lease money factors to add additional hidden profit to deals. That sort of thing is not really that common on an Accord, but it is very common with luxury makes like BMW and Mercedes-Benz.

    Honda Finance's current lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan LX with 15,000 miles per year are .00046 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • gsamuelsongsamuelson Posts: 1
    edited July 2012
    I am interested in leasing the Accord LX sedan with auto transmission and wanted to know if $169.00 per month on 36 months and 12k miles per year + $1556.00 out of pocket was a good deal. The out of pocket is the taxes on 36 monthly payments = 539.96 NYC taxes of 8.875 percent. The bank fee of 595 + 52.81 taxes, 1st month payment of 169.00 and 200.00 for plates and registration. Totaling $7471 over the entire lease term including the out of pocket.Thanks all
  • pegasus17pegasus17 Posts: 536
    carman,
    Need mf and residual for July on lease for EXL-V6 (msrp 30400), excellent credit, 12k per year, 36 months
    THX
  • tmzn32tmzn32 Posts: 6
    edited July 2012
    Hey guys, just looking for some insight on the following deal.
    2012 Honda Accord EX Manual Black on Black
    MSRP $25,195.00
    Discounted Price- $21,424.00
    Absolutely no money down
    36month/36k
    $240/month, or $255/month with the wing spoiler I wanted
    Wheel lock and mud guards both included (installed)

    My question is if this is a good deal, how can I convert the same to a Purchase deal (as in no lease). I have great credit, so what can I expect my monthly payments to be if I purchased it? This is my first new car im leasing/purchasing, so I'm a little scared to go to the dealer and work out the contract (not confident I will get a good deal) :confuse: . Any insight is greatly appreciated.
  • pegasus17pegasus17 Posts: 536
    REF: 4770
    240 is a bit high for an EX manual. try using this:

    http://www.leaseguide.com/calc.htm

    you will need the money factor and residual % but you should know them anyway if you are leasing (first timers especially). I doubt the spoiler is being residualized so you are paying for it entirely in the extra 15/month. Makes no financial sense unless you are a teenager and this is your p-mobile. good luck...
  • tmzn32tmzn32 Posts: 6
    edited July 2012
    Yes I used a 57% residual, .00046 money factor (thanks to carman), and that yields 226/month. The 240 is all inclusive, includes taxes and fees.
    I am not a teenager. I just graduated college and have an engineering job, but I'm still debating between leasing and buying. I drive close to or less than 10k a year, and I dont beat the hell out of my vehicles. I seem to change my mind every day. I know about their graduate program they have going on with the 0.9% APR for 36 month purchase, and the 1.9% for 37-60 month purchase, which seems to be quite a good deal. I can still keep relatively low monthly payments, with little to no money down.
    Thanks for the response, and let me know if that 240 (being all inclusive) is good. Would the dealer keep that sell price if I decided to finance a purchase? I would think so.
  • pegasus17pegasus17 Posts: 536
    REF: 4772
    I get a pre-tax monthly of 229.46 using a 595 acq fee and all other numbers from your post. Did you include the acq fee charged by honda Finance?
    Re the price: Pricing for a lease vs a buy could be different depending on the current incentives; sometimes there is lease cash vs a lower loan rate for a purchase - it depends. Not knowing your tax rate (state) and the bs fees they MAY be adding on, it is hard to tell. Overall, any time you can lease for less than $10 per $1000 of MSRP on a standard 3/36k lease, that is a very good deal.
  • tmzn32tmzn32 Posts: 6
    Yes, I was told that its everything included AFTER taxes, comes to 240 a month. By everything included I mean after the fees they charge.
  • pegasus17pegasus17 Posts: 536
    I would ask for full disclosure of fees and taxes so you can make sure they are reasonable before you sign papers in the finance office. Otherwise it's too late...
  • tmzn32tmzn32 Posts: 6
    Yes before I sign the papers. They assured that it's no money down, and fees and taxes are built into monthly quote. What do you think?
  • pegasus17pegasus17 Posts: 536
    Provided you are proficient in driving a stick (I live in the city so it wouldn't work for me), i'd still try to get them down to 225/month and settle on 235 or 240 if you had to. it's getting near the end of the month so their quota issue becomes relevant. As i said before, any time you can lease for less than $10 per 1000 dollars of msrp, it is a deal. Good luck
  • 2012 Accord SE Lease

    $209 including 7% sales tax and honda paying first month.

    $0 down. First payment in 31 days. 35 payments.

    Gwinnett Honda. Contact internet sales.

    They didn't like giving me the deal but they were easy to deal with and treated me nice.
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