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2013 and earlier-Honda Accord Lease Questions

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Comments

  • trusso69trusso69 Posts: 68
    read post 5066, i ask carman about the rates
    read post 5075, carman replies and confirms it's 0.00097
    They know the rates; just tell them you know!

    If you go to the Weymouth Honda site and play with their lease calculator, you will see the money factor changes when you change the lease type to zero out-the-door.

    Using the weymouth calculator, i input $541 of negative equity to simulate getting to your $1500 fees number. Payment came to 288 for 35 payments, sign and drive lease.
  • dhyun3dhyun3 Posts: 11
    Thanks! I will tell them and get a deal and drive home with a new car.
    I will keep posted. Thanks again for your help!
  • trusso69trusso69 Posts: 68
    Lease data:
    2.33% for 24 mo. note 2
    2.33% for 36 mo. note 2...........................0.00097 (sign and drive)
    exp. 4/30/13
    ---or---
    2.57% for 24 mo. note 2
    2.57% for 36 mo. note 2..........................0.00107 (other)
    exp. 4/30/13

    money factor = percentage divided by 2400 (for 36 month leases)
  • acfkelacfkel Posts: 18
    I just got into an EX with $0 down for $312/month (Money Factor .00125) 36 months, 15k miles. If that gives you any idea.
  • dhyun3dhyun3 Posts: 11
    Can you please provide more detail? Thanks.
  • acfkelacfkel Posts: 18
    If you know your Net Cap Cost, Residual, and Money Factor, you can work the math out as well. However, the Weymouth website does this for you, and is a good resource in checking out if you come out with the same numbers.

    I know the numbers before going in and ask a variety of dealerships to provide this information before so I can do the math. Once you have this information, it really just comes down to whoever gives you the best deal.
  • acfkelacfkel Posts: 18
    I could be wrong but based on your information you provided initially, this is what I came up with:

    Deprecation Fee = $22,165 (Net Cap Cost) - Residual of $14,988 ($24,980 x .60) / 36 months = $199.30

    Finance Fee = Net Cap Cost + Residual ($37,153) x Money Factor (.00107 aka 2.57% APR) = $39.75

    Total lease payment: $199.30 + $39.75 = $239.05 *not including taxes, fees, etc.*

    If you roll that $1,500 into your payment over 36 months, it would increase your monthly payment by about $42.

    $239.05 + $42 = $281.05 (Total lease payment with nothing down)
  • redbone55redbone55 Posts: 13
    Does anyone have any information on what this car is leasing for in Ohio? Are there any specials or incentives? I've been given this info on the LX-S:

    Sale price = 22938. 59% residual; .00107 MF, 1100 out of pocket $300 per month. 36K lease.

    Also, if you have any info on the EX, I would be interested in that information as well. 6.75% sales tax.
  • acfkelacfkel Posts: 18
    Read through the forum, use the Weymouth calculator. $300 is too high.
  • redbone55redbone55 Posts: 13
    I did use the calculator. When I presented those numbers to the dealership, they said that there must be some regional specials that are running in Boston, and said those numbers don't apply to the Ohio area. This is from Germain Honda, Columbus, OH. It sounds like I need to press them to get the same type of deal.

    Thanks.
  • trusso69trusso69 Posts: 68
    edited March 2013
    ref 5089
    have you tried carwoo? Works well in areas where there are multiple Honda dealers; you can lease an LX for about 250 per month total here in SW OH

    http://pictures.dealer.com/v/vosshondaoh/1343/607c6e3c0a0d02b700054643eae20928.j- - pg
  • I recently went shopping for my first lease ever and was quoted 328/month + 3500 down for an Accord Coupe EX. After discovering this thread and the Weymouth site I'm shocked at the price I was given. Thanks to everyone for all the information they provided.

    Some general questions: Are all dealers required to disclose the residual value and money factor they are using when calculating their lease prices?
  • huskerfan5huskerfan5 Posts: 163
    I have leased eight cars and have visited dealerships for makes I never did lease and have never come across a dealership which hasn't provided that. In some cases, I actually asked to see the rate sheet they received from the leasing company. I would never do business with anyone who didn't provide it, otherwise I couldn't confirm the actual price of the car.
    Your lease agreement will plainly indicate the residual so there is no reason for them to hide that from you. The agreement will not have the money factor but all the numbers are there for you to do the math to figure it out so there should be no reason for them to withhold the money factor from you.
    Good luck.
  • dhyun3dhyun3 Posts: 11
    Frist of all, thanks trusso69 for your help - I really appreciate it.

    So, I just picked up a 2013 black accord sport and drove for a few hours and really like it. First honda ever for my life and I'm very happy with the car.

    I paid $269 per month for 12k/36 month with 0 downpayment. I just paid $269 for this month and left the dealer in 2 hour or so. Everything was very straightforward. MSRP was $24980, money factor was 0.00097 and residual was 61%. The negotiated price of the car was $22k.

    Overall, I think I got a great compared based on my research and thank everyone here again for help. I bought my car in Sport Hond in MD (3201 Automobile Blvd Silver Spring, MD 20904). Look for Brian Liang and he was very honest and played no game. I really highly recommend him.
  • redbone55redbone55 Posts: 13
    Thx Truss069. I signed up with carwoo last night. Looking forward to seeing what types of deals are offered.
  • sigep739sigep739 Posts: 1
    So just got back from the dealer... My wife and I have to trade in her small two door car because we are expecting a child and need an upgrade!

    So we got the dealer to $26900 for a 2013 ex-l... Basically, we had $26,399 but they didn't have our preferred colors and need to do a swap. So we argues back and forth and they gave us a "better" rate- but really, they only offered is the .00107 and 59%. We also had a $1200 trade in credit but bought some extras which cost 800... For a new value off of $400.

    Anyway, got the payment and it was 383 incl taxes sign and drive. Seemed a bit high.

    Funny thing too... In their offer sheet, I just got home and I was reading it... Added all the credits and deductions and it didn't add out to their "net balance"... It was $2200 more than what the numbers added to for a total $29,286 ... Rather than just above $27,000.

    Seems they're being shady. Even though I shook on the deal, they made a mistake not being able to get the car tonight and letting me leave.
  • huskerfan5huskerfan5 Posts: 163
    Suggest you check the Prices Paid forum for what people have been paying for an EX-L.
  • redbone55redbone55 Posts: 13
    Hey Truss: Thanks so much for the suggestion about carwoo. I signed up on Thursday, initiated the process, had a response from Tom J from Jeff Wyler Honda of Colerain (Cincinnati). He was able to provide me with a deal that was within $1 of the monthly payment and within $15 of the up front fees that the Weymouth lease calculator showed. My nephew went to the dealership today, and drove home in his new Accord Coupe. He even upgraded to the EX coupe. This was the easiest car buying experience that we have ever had. I was concerned that they might try to change something once he went in. But, the deal was exactly as promised by Tom. I would highly recommend him to anyone within 100 miles or so of Cincinnati. Thanks again.
  • saml01saml01 Posts: 5
    edited March 2013
    Hello,

    Would anyone happen to know the residual for an EX-L V6 Coupe Manual with Navi. 12k mile, 36 and 24 month terms.

    Thank you very much.

    Sam
  • trusso69trusso69 Posts: 68
    edited March 2013
    you ask, weymouth web site delivers:
    36 month:
    Residual $17,895.60 (54% of MSRP)
    Financing 0.00107 money factor

    24 month:
    Residual $19,884.00 (60% of MSRP)
    Financing 0.00107 money factor
This discussion has been closed.