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2013 and earlier-Honda Accord Lease Questions

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Comments

  • vspeedvspeed Posts: 11
    edited April 2013
    So in the future what should I do...How do you not pay MSRP?

    I don't get it?...from what I read online, most people said that Honda dealers don't budge on prices for their leases..

    Should I have gotten him to give me a quote below MSRP in an email before I went there? Or not gone at all and done all the quoting by email?

    The showroom setting really screws me up...I get nervous, flustered and hate the experience...

    I went into it knowing I would have to pay for taxes etc...so when the payment came to $16 over 250 it seemed okay, but then I got online and found how people were putting down less than I was and still getting less or lower payments.

    Did this dealership basically steal my Trade In vehicle - can I bring a lawsuit against them or is it just my fault for not trying to get them below MSRP.
  • gmanusmcgmanusmc SoCalPosts: 436
    Vspeed - looks like your biggest mistake is doing the research after the fact - many shoppers do this. If you show a willingness to pay sticker price, the dealer is happy to take your business. If you review the past few months posts in this forum, you will see that there are some pretty good discounts right now on the 2013 Accord. On the positive side, you leased a very good car that will last a long time and will hold its value very well. Now that you have found this forum, always come here first to get an idea of the market before making a vehicle purchase.
  • Vspeed,

    One piece of information that you did not tell us. They gave you $1,500 on your Durango for trade, how much did you owe on it?

    Tweet
  • vspeedvspeed Posts: 11
    Thank you...

    I have learned my lesson...albeit the hard way...I do LOVE the car...thank you again and look forward to learning more from you guru's here!!!
  • vspeedvspeed Posts: 11
    It was paid off for about the last 6 years...It was a 2001...and started having major mechanical issues...just clicked past 124,000 miles...it had more sentimental value than financial :)
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    vspeed wrote: "Thanks but I just found this site and I'm getting used to the forum"

    Yeah, I know what you mean: compared to typical forums I've come across on the web, this one is rather an odd one in trying to follow threads.

    Personally, I'm truly sorry we weren't able to help you help you out beforehand! You're so congenial and you're GREAT with replying to each response with an acknowledgement and thank you. You're making it a really, REALLY friendly forum :)

    It's nice to see this where, and especially relative to HOST Car_man's assistance, there is nary the follow-up for any help provided.

    I personally hope we'll see your contributions for others in the future!
  • Its all water under the bridge now.
    Next time......you will be well prepared!

    You can always, ALWAYS negotiate the "selling price" of the car. Regardless or purchase or lease. Start at the INVOICE and work up.......never down off MSRP.

    A great deal is $300 over invoice (then minus any dealer cash or rebates)

    Watch "add ons" dealers love those......all pure profit. They saw you coming, and took you for a little ride. Just choose a different dealer next time if you do another Honda.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Kean. The residual value for a 36-month lease of a 2013 Accord Sedan EX-L 4-cylinder with 12,000 miles per year is 57%.

    You can pay the acquisition fee at signing or roll it into your vehicle's capitalized cost to bake it into the payment. It's up to you, though the less that you pay at signing the better.

    Honda is not specifically providing any cash incentives on leases of the 2013 Accord right now, but it does have some $500 FlexCash certificates floating around out there that can be used on leases. Try to get the dealer to use one on your deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome badger1994. The money factors for Accords with or without Navigation are the same, but the Nav units have 2% lower residual values.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • pilot_bugspilot_bugs Posts: 5
    edited April 2013
    Thanks Car_man.Right now I had quoted for EXL with no options for 24,413+dest. Would you think its a good price? And if I'm going to lease. It is the price I will get or not.
    One thing I had a '10 leased Rdx base with 24k m 1 mo. remaining on lease.Any ideas if I could get some equity from it and apply that equity to a new lease.Because one Honda dealer I visited that said I have nothing from it but Kbb, edmunds trade in value is almost $22k. And need your opinion if it is favorable to buyout the Rdx after the lease for $18664+tax or get a new lease honda accord exl.Thank you again.
  • dman100dman100 Posts: 3
    This forum has been extremely helpful. Thanks everyone for thier input.

    I am in the market for an Accord EX Sedan with the manual transmission (really disappointed the Sport doesnt have a sunroof!). Anyways, when will the May money factor and specials be known? Trying to figure out if I should try for something at the end of this month or wait till May.

    Also, can anyone know the residual value for an EX Sedan w/ manual transmission for a 3 years lease at 12,000 miles per year? I am in the Midwest (Nebraska), if that matters.
  • gmanusmcgmanusmc SoCalPosts: 436
    Usually the new program details are not revealed until the old program expires and sometimes there is a little lag time involved. The danger in waiting is that as the model year gets into the later stages, the residual values might decrease.
  • vspeedvspeed Posts: 11
    Why Thank you ! :)

    Glad to have found this group and its helpful membership.

    I will be in the market in another year and plan on keeping up this time and posting my experience.

    This place (and people) has definitely softened the blow of my hasty decision making and really has armed me with a lot of great knowledge and experience to proceed positively from here and really look at this as a great learning experience I can pass on.

    Thank you again!!!
  • vspeedvspeed Posts: 11
    Great advice! That is something I have filed away for my tools later on. Appreciate the help.
  • pilot_bugspilot_bugs Posts: 5
    edited April 2013
    We drive home our new lease Accord EXL 4cyl yesterday.$25213 price and end up $260/mo lease and its the amount we pay at signing.At first they said we don't get any equity on a lease car with a month left and when I try to leave he go back to their manager. And then we he come back he ask how much I would want, so I said at least $2k. I know it should be more bec. at edmunds trade in price was $21900.But I'd just ask $2k and its a third dealer I visit the previous dealer didn't budged.So were happy at least we didn't return our RDX with nothing.And was thankful to this forum at least have an idea to how much I gonna pay.
  • gmelo83gmelo83 Posts: 3
    Hello - could someone do a best case scenario for a 12K/36M lease on the Touring? This is all french to me. Thanks
  • gastromdgastromd Posts: 5
    Hi all,
    This is my first post to this forum, so I have to start by saying thank you to everyone, as I have used it for many years to research all my prior leases. I think I just got a really great deal on my new Accord that I wanted to pass along to everyone. Boy does shopping around at the end of the month help!!

    2013 Honda Accord EX Sedan, CVT transmission, 4cyl. Modern steel ext/grey int
    12,000 miles/year x 36 month lease
    Top tier credit
    No trade-in (lease on my 2010 Civic expiring so will return to this dealer)
    Leased in the suburbs of Boston, MA

    The deal was $260/month, with absolutely zero down (except for my first month's payment). All lease inception fees were rolled into the deal, including bank fee, document fee, and even state registration fees. This was well below invoice, and I pressed the dealer on how he could offer this.

    He said that they were able to use the $500 Flexcash (which I had seen mentioned on these forums), but that in addition, the dealership was willing to take an $850 loss on this deal. They make up for it by leveraging the profit they made from people who get bad deals throughout the month, so that the can compete for "aggressive deals" such as mine, which allows them to hit inventory quotas for the end of the month.

    Some figures from this deal that I was quoted, which I thought would be helpful for others:
    MSRP: $26,195
    Invoice: $24,037
    Residual Value = 61%
    Adjusted capitalized cost: $23,276
    April Money Factor = 0.00107
    Honda Bank fee = $595
    This dealers document fee = $329
    Mass reg fees: $123

    So what do you guys think? I was shocked when I was offered this deal, as I was assuming I would have to pay around 300-310/month (holding all else equal, zero down, no fees whatsoever at signing).

    Thanks and good luck!
  • brcarbrcar Posts: 10
    Car_man,

    Could you please provide May numbers for the 2013 Accord LX CVT.

    12k Miles
    36 Months

    Is the money factor for a sign and drive different than a first and fees lease again?

    Any cash incentives?

    Thanks for your time.
  • huskerfan5huskerfan5 Posts: 163
    You got a good deal but the dealer is definitely making a profit on the deal.
    Take a look at the lease calculator at Weymouthhonda.com. The residual is now 60% but their price is $261 including MA tax with $625 due at signing, so if this deal was done in Apr with a 61% residual and you put the difference between $625 and $261 into the lease, the payment would have been around $264, and that's without any haggling.
  • zigster38zigster38 Posts: 72
    If the dealer sold it for 850 below invoice, they still made 250-500 bucks on the deal lol. Its amazing, even when people have access to forums such as this dealers still make $$.
This discussion has been closed.