Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier-Honda Accord Lease Questions

12467183

Comments

  • dglozmandglozman Posts: 177
    Does this quote includes taxes and fees? I know that Honda Finance charge $595 and doc fee somewhere $100.
    When you get a quote, make sure it is "OTD" price that includes everything you pay (regardless if it is goes to dealership or the government)
  • waydewayde Posts: 198
    CarMan -
    The money factor is .00202 -- is that correct based on your AHFC leasing info?
    Yes, the 388.10 includes taxes.
    thanks :)
  • sdiver68sdiver68 Posts: 119
    I'm picking up my EX V6 non-navi this week for $395/month...36 months/45,000 miles with the same money factor and zero down and no security deposit in a 7% tax area. I think I worked out the selling price ~ $25,500...or about $400 above invoice (please double check my math...it's been a week since I calc'ed it)
  • I see on Honda's website that they are currently offering a lease for the LX Special Edition ($239/month for 42 months w/ $1999 due at signing). What would a similar lease be for an LX with no SE. Would the ~$700 difference in price make much of a difference, or would the special deal on the SE almost make up for the price difference?
  • gidocgidoc Posts: 5
    CarMan,

    Hoping for money factor and residual value for 36 mo, 12 k per year on Accord EX V6.

    Also, any insight into whether current lease incentives will cont into December?

    Thanks in advance.
  • I am considering leasing the LX SE. I have been quoted a buy price of 18,550 + the usual charges and 5% MD sales tax. There is plenty of competition here in the DC area. What should I be expecting to pay monthly if i want to put nothing down for 36 months? 42 months? Would I get a lower rate if I asked for 10K a year instaed of 12K. Historically are these good rates that Honda is offering right now?

    Sorry for all the questions, and thanks in advance for any help offered. I am looking to get a car by Monday.

    Thanks again.
  • Hi jmax1. You would be better off having the dealer that you are working with cut you a check for any equity that you have in your trade than using the proceeds from it as a down payment on a lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your leased Honda would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all.

    Honda's lease program is much more attractive on the 2006 Accord right now than it is on the 2006 Civic. As a result, the Accord is the better value, but the Civic might actually have a lower lease payment because it is a less expensive vehicle, price-wise.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Greetings rabbit2. Most manufacturer advertised lease payments leave a little meat on the bone, so to speak. If you are n an area where there is a decent level of competition for your business, I would not be surprised if you were able to negotiate a lower selling price than the one that this lease is based upon. Naturally, a lower selling price will result in a lower lease payment. For more specific feedback on how much you should expect to pay for this car right now, stop by the following discussion: "Honda Accord: Prices Paid & Buying Experience".

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi somtam. You can figure out what the lease payment should be on a vehicle, given its selling price, but you need a little more information to do so. In addition to the selling price, you need the full MSRP, lease money factor and residual value. I can give you the latter two numbers. If you were to lease a 2006 Honda Accord EX 4-cylinder sedan through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00192 and 59%, respectively. Now all you need is this car's MSRP. Once you have it, plug all of this information into the formula that is outlined in the following article: Calculate Your Own Lease Payment.

    Assuming all of the cars that you are interested in are the same, theoretically the one that has the lowest selling price will be the best deal and have the lowest lease payment.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi erlkoenig. I can tell you exactly what your lease payment on this car should be like and I would be more than happy to do so, but I need you to tell me its full MSRP (including the destination charge) first. For now, I can tell you that you should keep your $2,500 in the bank rather than using it as a down payment on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Accord would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all.

    For feedback on how good the price that you were quoted for this car is, stop by the following discussion: "Honda Accord: Prices Paid & Buying Experience".

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • You need to find out the selling price, wayde. Not only do you not know what sort of a discount you are being given on this car without it, but it is difficult to tell what its lease payment should even be. The fact that sales tax is included in the payment that you mentioned makes it even more difficult for me to evaluate this deal without the selling price.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hey wayde. Yes the lease money factor that you were quoted to lease this car is correct. Honda Finance's buy rate factor for it is currently .00192 and if you are having your car's security deposit waived it would increase to .00200.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • I can tell you exactly what the lease payment should be like on the car that you are considering, rkramb. I just need you to tell me its full MSRP and selling price.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Here's the information that you are looking for, gidoc. If you were to lease a 2006 Honda Accord EX V6 through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00192 and 59%, respectively. Honda's current lease program is scheduled to run through January 3rd, so these numbers should be good for the month of December as well. It is possible that Honda will make an unscheduled revision to the Accord's lease program, but I doubt that will happen.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hello bridonohue. I would be happy to tell you what your lease payment should be on this car, but I cannot do so without knowing its MSRP. Once I have this number, I can estimate what your lease payment should be for any lease term and mileage combination that you want. I don't believe that Honda Finance offers leases with only 10,000 miles per year. The lease program that Honda is running on the Accord right now is not bad, but I definitely have seen better offers on this car from them.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Thanks Car Man. The MSRP is 21525 + 550 delivery.

    Thanks Again,

    bridonohue
  • r0dxxr0dxx Posts: 1
    I am just curious on a few different scenerios what my monthly payments would be. I live in South florida.

    36 month lease / 12k miles (for all below)

    2006 Accord 4cyl Auto LX with 1k down
    2006 Accord 4cyl Auto EX with 1k down
    2006 Accord 4cyl Auto EX-L with 1k down

    2006 Accord 4cyl Auto LX with 0 down
    2006 Accord 4cyl Auto EX with 0 down
    2006 Accord 4cyl Auto EX-L with 0 down

    Thanks in advance! :D
  • What would a fair lease price for a 2006 VP with a MSRP of 19,025 + the normal fees and 5% MD tax, with price to buy quoted at 17,050, out the door at 18,800.

    With the special lease rate on the SE, does it make leasing a VP silly.

    Thanks again in advance Car Man
  • kim100kim100 Posts: 10
    Hi!

    I just found your message. I don't know if you made a decision on which car to lease yet, but if you haven't, I have the figures (much lower) for the SE. Let me know if you want me to continue this discussion.

    Best,
    Kim
  • kim100kim100 Posts: 10
    Hi!

    I just put a deposit on a 2006 EX-V6 Accord sedan. So, I have until tomorrow to make a definite decision and I don't know if what I am paying is fair or overpriced.

    Could you kindly tell me if this is a good deal?

    Figures:

    2006 Accord EX V6 w/ leather:

    MSRP - $27,850.00
    invoice - 25,617.00

    "Money Down" totals - $2041.89 which includes Tax, tag, Dest, and first payment.

    36 month lease at $340.09 per month total.

    Any thoughts? I didn't have time to research this car. It was a quick decision. My mind was changed to a V6 after a dear friend of mine told me not to get a 4 cyl. However, my initial lease was to be on the LX-SE (which was a great deal at $254 for 36 per month and $1650 down TTL).

    Thanks,
    Kim
  • ekdj1ekdj1 Posts: 1
    I'm a high-mileage driver with a employer reimbursement rate that makes leasing a really good deal better than purchasing.
    My question relates to the pre-lease arrangement Honda usually makes to account for more miles per year than the current conventional leases.

    I'm interested in a 2006 LX with Auto Trans. and will put down +/- $2500. for a down payment. I'll be driving 30k miles or so per year, beginning the lease this January ('06).

    I know that they'll charge me $.15 per mile over the 12k or 15k, but cannot figure what better deal I'd get if I have them factor in the extra miles in the agreement. Any info you can provide would be appreciated.
  • I was just wondering if anyone has the lease rates (money factors) for accord EX-L wiht navi for december? thanks!

    -Nick
  • It's better to buy mileage upfront as much as possible, but I don't think can you get 30K/year lease from any import manufacturer, on their regular business max is 15K. if you get 15k/y after 3 year you will have 45K miles over which is $6750 and a chance some more charges as car is out of warranty, if you want to return it you will end up to buy that car on end of the lease. So I would buy it right now and save acquistion fee.
  • I posted asking about the 06 lease rates for honda accors EX-L with navi. I was wondering what fees I should be paying for the lease. (I imagine an aquisition fee and a security deposit) is there anything else? are there any fees I should AVOID paying? thanks

    -Nick
  • I just got back from a dealer in Northern VA, and I can't believe the numbers I'm hearing. I'm trying to lease an 06 Accord Coupe V6 auto with Navi. The lowest I got them to go was 412/month for 42 months, 12000 miles.

    The selling price we negotiated with 27,500 (not great either), but when I asked what MF and residuals they were using to arrive at the monthly payment, I was told .003 and 53%!

    I mentioned .002 as a MF, and I was told "we would love to know what bank is offering those rates, because we sure can't get that"

    I ended up walking out, but how does one negotiate MF and residual? Saying that I saw some posts on Edmunds that say American Honda is offering lower MF is not enough.
  • Forgot to mention, the quote above was with 2000 down, pls TTL and first payment. So I would end up paying about 3500 at signing.
  • Malichs, I would definetly go somewhere else, sounds like they are definetly trying to screw you. my onyl question. did they run your credit before telling you this? (just saying it's posible you didn't qualify for the best money factor) I'd say try another dealer. I'm sure there are plenty of honda dealers around. if for soem reason you have to get it there. bring in a printout with the money factors that you've found. I actually believe they were lower than .002 (thought it was like .00192) not sure what they are for december, I'd imagine they are either the same or lower. if they don't want to deal on it tell them they just lost a sale and walk out.
  • Thanks for the reply. I'm pretty sure they ran my credit, because they mentioned I have excellent credit (which I do), and that I've never been late with payments on my current Accord Coupe lease.

    But I'm definitely shopping around. There are plenty of Honda dealers in the DC area, so I'm sure I'll find something. I've gotten an Internet quote of 26,984 from another dealer (compared to 27,500 at this dealer), so there is definitely room to deal.
  • yes, I agree.. check out edmunds.com for their TMV (which is stilla little high because the cars just came out) but if you a little below that figure you should be at least in the right range, they also show their invoice (you should be paying, in my opinion, no more than a few hundred over invoice)
  • Malichs: MF is really depend to your credit score, but from residual value they told you, I guess they trying to get it leased through somwhere other than Honda Finance. I don;t know about your area, but residual value for Accord (any model doesn;t make difference) is 55% in 42 months, and money factor depends to your credit score, unless you have a horrible credit history .0020 seems right, wherever you go, again if you have a good credit, insisit ONLY leasing through Honda. Let us know results
This discussion has been closed.