2013 and earlier-Honda Accord Lease Questions

CarMan@Edmunds

Hello jgreenberg. The dealer invoice price of the car that you described is $24,605. The selling price that you were quoted is $1,500 under dealer invoice (or right around invoice once the available dealer cash is taken into account). That is an excellent selling price. Just make sure that the dealer that you are working with uses Honda Finance's current buy rate lease money factor of .00207 (top credit tier) to calculate your monthly payment and you're in business.

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CarMan@Edmunds

Greetings tarp. I thought that Honda might revise its lease program for the month of June, but thus far its June program appears to be the same as the May program. I'll provide you withe May info now and keep my ear to the ground for any changes.

According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord Coupe EX-L V6 without navigation with 15,000 miles per year are .00207 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Last month Honda was providing $1,500 dealer cash on this model. I suspect that this cash is still the same, but again I have to check to see if there has been any revisions.

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bvdj84

If you are wanting to trade, you usually can skip the step of buying your own lease out. As that would take a long time. However, if you are trading, you need to look at your pay off amount versus your market value on the car. Then you will know how much negative equity you'll have to roll into the new deal. Most cars will have something to roll in now. Unless you are in the last year of your terms.

Buying your own lease out, then trying to sell it or trade it seems like you would lose more money and lots of time in the process (time, interest, fee, etc) Why get a loan, only to trade it again?

I think both ways are logical, but I am think realistically in quicker time frame.

Hope you don't mind I chime in on that Car_man. If I want to trade, I'll want to move soon.

tarp_kitko

Thanks, Car_man.
BTW, I got an offer for accord coupe v6 with MT:

396 tax inc
0 down
609 due at signing.

What do you think?

kingpcgeek

without a selling price can't tell you what kind of deal you have. Let alone term and mileage of the lease.

bandit400

Looking to lease a 09 Accord 4dr LX 4cyl auto for 36 months and 15k per year:

I was looking at a few of the posts made about two weeks ago which showed the RV for a lease of this type as 57% and the money factor of .00207. Are these values still current?

I noticed posts from the past day or two showing only a 52% RV. Although, if I calculate the RV off of the $199 lease special details on honda's website for a 12K per year lease it still comes out to 59%. Not sure if the lower RV was a result of it being the EX model.

I want to ensure that I have my facts straight regarding honda's current lease program before I approach the dealer. Thanks.

bigneube23

New here, just looking for some information or a quote on a 36 month lease at 12k miles a year for 3 years on an 09 honda accord coupe ex-l v6 with $0 down, nothing out of pocket. I am trying to keep it under $400 a month, would this be reasonable? I live in new york with 8.25% tax. Any information would help. Thanks!

kingpcgeek

At $1500 under invoice which is what I was quoted today you are looking at least $435 a month with 0 down.

superman1011

Just signed on a lease for a 09 V6 EX-L last week (May). After spending months coing back and forth and going to several dealerships, i was able to get 12K miles, 3 year lease for 380.00/month with only first month down. The car also had "2,000" in dealer aaccesories, which were pretty much all waived. These included wheel locks, racing stripe, sun roof visor, environemnt protection coating, and full window tinting. My net cap cost was in the 25500 range before dealer fees, doc. fee, tag, etc. I am in NC and our taxes are about 3%.

I had negoiated 369.00 on the same car minus the accessories, but it has black interior and i wanted the tan.

A great deal can be had! I was discouraged, but finally made a big WIN!!!

Good luck!

tarp_kitko

Ok so here is the deal.
They gave me a selling price of $26544, which Im fine with. Then they confirmed that they have the same RV - 52% (for 15k/year), and MF - 0.00207. Now when I did my calculations i came up with $370 before taxes, and $391 after taxes. They came up with $409.60 after taxes. I very clearly explained how i got my numbers, they, on the other hand, just kept pointing at the paper and kept telling that these are their numbers. Then I offered $400, but they said no. So what do you think? Should I settle for $409.60 a month or i can get a better deal?
BTW, to everybody else - we are talking about accord coupe V6 with MT no Navi.

kingpcgeek

You didn't say how much you are paying at drive-off. Just first month's or first month's, acquisition, doc, and TTL, i.e. how much are you rolling into the lease?

tarp_kitko

$609 ( first month, taxes, title, doc fee).

This is what another dealer just emailed me:
Our Selling Price - $26610
Doc fee - $190
6% tax - $1608
Total OTD - $28408

36months/15k per year
MF - .00207
RV - 52%
Money down - $650 (covers first month, taxes, title, doc fee)
Monthly - $408.47 includes taxes

The odd thing about this offer is that they added taxes in the beginning.

kingpcgeek

Although most states only charge sales tax on monthly payments (and down payment, if any), some states, such as Texas, New York, and Illinois, require the entire sales tax up front, based either on the sum of all lease payments or on the full sale price of the vehicle, depending on the state.

tarp_kitko

I'm in Michigan.
So what do you, guys, think about these two offers?

ajmm

I'm waiting for the breakdown of the numbers we have been given for an Accord LX lease, but the basics are...

36 months
12,000 miles/year
$271.15/month
$0 down

Are we on the right track for a good deal? Thanks!

kingpcgeek

I had to go back a few posts, but it looks like this is for a Manual EX-L V6 Coupe?

The invoice on this car is 26,910 and there is $1,5000 dealer cash available. You should be getting that car for around 25,410. They are only giving you $300 of the $1500 dealer cash. The other item missing from your numbers is the $595 acquisition fee you have to pay to Honda for the lease. I wonder if it is included in the selling price, even though I have never seen a dealer do that in a quote.

kingpcgeek

You cannot evaluate a lease deal without knowing the selling price and what you are rolling into the lease, how much is TTL, Doc fee, etc.

ajmm

Just got the rest of the information:

Selling price: $18,559.00
Residual: $13,201.25
Money Factor: 0.00207
Monthly payment: $271.15 (All taxes, fees, etc. included in this monthly payment)
Due at signing: $0

Thank you for any advice!

donaldoadams

I was offered this deal on Saturday (Chicago Area)

Thoughts....?

2009 Accord EX L Sedan.....Green w.Black leather
Automatic
36 month lease, 15,000 miles/year
Sales price: $22,799.00= $24299-$1500 dealer cash
Down payment $2180.00 Tax, ttile, Doc 1st months payment ($1711.43 Tax +$150 plates + $319 1st months payment)
RV 55%
Residual: $14,891
Money Factor: 0.00207
Monthly payment: $319

I am thinking they should knock about $499 more off of the vehicle price.

poly

I just got this deal in NJ -
2009 Accord EXL Sedan.....Black w.Black leather
Automatic
36 month lease, 15,000 miles/year
35 payments of $347/mo
347 down (only first month payment)

all fees and taxes included in this price

tarp_kitko

ok so I picked up my accord v6 with MT no Nav.
Selling price: 25656
36m, 12k/y
RV - 54%
MF - 0.00207
Due at signing 637 (first monthly payment included)
Monthly payment - 387 (tax included)
I personally think I got a good deal. Maybe I could have gotten for a few bucks cheaper, but not by much.
Any thoughts?

donaldoadams

Car_man

Do you have residual value for

2009 Honda Accoord EX-L with 15k per year.

Also dealer is trying to get .20 cents per mile over 45k on a 36 month lease.

Does this seem legit.

Thanks in advance.

-D

jc5748

Hi everyone, new to the forum, but have been watching and researching for months.
I have a lease offer in the Chicago Suburbs on an LX w/ AT.
MSRP: $22,375
Selling Price: $18,470
Taxes and all Fees: $1,792
36 months, 12k, $253 (1st month) down only
$253/mo

Is this a good deal?
Does this offer add up and seem legit?
Anyone with experience here feel free to give your input. I would really appreciate it.

pegasus17

REF: 3327
Here in OH a dealer has a ZERO o-t-d offer of 247 + tax for the LX sedan a/t

http://honda.vossauto.com/Specials-New.aspx#04

Don't know your tax/fee structure in IL but it does seem high to me...

jc5748

The taxes here are charged on the full purchase price. We are one of the few states that still do this nonsense. That being said, my payments would be $253 with zero down (just 1st month payment) , or $199 with taxes and fees due up front (1750ish)

syano

2009 EX-l 4cyl with Navi
MSRP: 29,275
Selling Price: 24,138.83 (agreed upon value)
Gross Cap Cost: 24,733.83
Cap Cost Reduction 2022.93
Adjusted Cap Cost: 22,710.90
Residual: 53% of MSRP - 15,515
Money Factor: .00207
Term: 36 month
Total Due at signing: 3,125
Payment: 279 + Tax
Payment with Tax: 298.53 (7% tax here in Forsyth Georgia)

Please note: I choose to put more money down to reduce the payment. The reason why, I would like to save for another discussion. This dealership would have allowed me to divide my down payment by 36 and roll that into the monthly payment.

Thank you,

robertw477

Putting more money down to lower the payment. I always wonder about this. With no benefit to you. If the car is stolen or totaled you lose the 3125. The idea of a lease is not t put any money down. I cant understand how people bought houses with no money down but want to put money down on a lease to lower their payments. Put the 3125 into a checking account and use it to pay the first 7-8 months of you lease.

Rob

bvdj84

Without all the money down, your payment would be about $380-390approx.
So, your down payment seems bad then...

Keep the sale price, $0 Down!

houdini33

Does anyone know what the RV and money factors are for the base EX V6 AT sedan? I can only seem to find the RV and money factors for the V6 in the EX-L trim. Thanks in advance for any help!

houdini33

Forgot to mention I am looking for 36mo. 15k/yr. Thanks!

joeygtp

Got an email quote for both an Accord LX and LX-P. Sign and drive, 36 months, 15,000 miles per year. The prices seem almost too good. What does everyone think:

A lease for a 2009 Honda Accord LX Sedan :
Months 36
Miles 15k a year
Upfront 1st month and DMV
Monthly $276.75
Residual Value 57%
Money Factor 0.002070

A lease for a 2009 Honda Accord LX-P Sedan:
Months 36
Miles 15k a year
Upfront 1st months and DMV
Monthly $295.00
Residual Value 57%
Money Factor 0.002070

Sale prices not mentioned in this email, but here is what I received before this quote:

Vehicle: 2009 Honda Accord LX Sedan
MSRP: $22,375
Special Internet Price: $18,138
Destination: $670
Your Price: $18,808

Vehicle: 2009 Honda Accord LX-P Sedan
MSRP: $23,375
Special Internet Price: $19,042
Destination: $670
Your Price: $19,712

midway54

What would be a fair price to pay for a 2009 Accord LX auto sedan with just 1st mos down and a 3 yr 12k lease..I was looking to get one by Tuesday and if anyone has a quote on same car please let me know..I hear there is a 1500 dealer incentive running now til June 30...Thanks for any help..

CarMan@Edmunds

Congratulations on getting your new Accord, poly. Thanks for taking the time to share the details of your lease with everyone. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

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CarMan@Edmunds

Hi donaldoadams. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Accord Sedan EX-L 4-cylinder with 15,000 miles per year are .00207 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

I don't know what Honda Finance's excess mileage charge is off of the top of my head, but $0.20 per mile sounds about right. I don't think that dealers can mark this charge up anyhow.

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CarMan@Edmunds

Hello houdini33. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord EX V6 Sedan without leather with 15,000 miles per year are .00207 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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robertw477

I was just quoted the following. I am trying to decide what I want to do. Honda Finance Lease company has been very good to me over the years and I really like working with them. Just looked at an Altima and they get and end of lease fee etc.

All of these are sign and drive leases. 1st payment and bank fee + tags of approx $600.00. These cars are plus 6% tax (FL)

EXL 315.00
EXL with NAV 360.00
EXL V6 343.00
EXL V6 with NAV 396.00

Not sure if the 6 is needed or the 4 will do enough. I have an 04 Accord LX. Honda has always been great for me mechanically and otherwise.

Rob

kingpcgeek

Right there is a perfect example why leasing a car with NAV is such a poor decision. Honda on the V6 Honda charges $2200 for NAV. The difference in payments is $53 x 36 add the 6% sales tax and you are at $2061. So through the length of the lease you wind up paying for 94% of the NAV.

robertw477

Honda is the best leasing company so the point about being clipped on a return I have heard stories about some other lease companies. They allow 1500 in damages in addition to normal wear and tear. I would go for a 15K lease and they might not charge you for addtl miles if you lease another one from them. They have no end of lease fees. I have a business. With a purchase you have a business asset. (Not much of an asset to me). I have heard recently Honda will let you get out early if you are getting into another Honda. I do not know if this is true. Anyway if you buy and want to get out, there is a cost to that also. Personally as a business owner I think you can put your extra cash in things to grow your business rather than tie it up with a car. Accountants are nice people. Unfortunately the only business they own or run is accounting. their true business expereince is pretty limited.

robertw477

kingpcgeek you are right on the money there. I do like the bluetooth and the homelink also but there is no way that is worth that kind of money. I always try to get the best value from a deal and it would burn me to basically pay for the NAV, foot the entire bill on that option. My business partner insisted on the res system for his Odyssey and it cost almost 1500 on the life of that lease. I think the NAV option is out for me. Do you think the V6 over the 4 cyl EXL is worth an extra 28.00 per month?

Rob

kingpcgeek

I'm on my second G35 after leasing 3 four cylinder Accords so to me getting a 6 over a 4 is a no brainer.

sleepysoo

Just wanted to post what my deal was, and what you guys think about it...

09 Accord EX (no leather)
Cap Cost: $22199
Cap Cost Red: $193.36 (tried to get out of it, but eh...oh well...)
MF: .00207
Residual: 59%
12k miles/year
$300/month (that is including tax)

I live in Socal where my tax is 8.75%.

What do you think? I was able to take advantage of that $1500 advertising dealer thingy and basically split the difference with the dealership.

robertw477

That looks like a pretty good deal to me for the EX model.

Rob

sleepysoo

oops...forgot to mention that it's a 36 month lease.

Out the door was $900 something. I forgot, and don't have the paperwork in front of me. Basically, out of door was the cap cost reduction of $193, first months rent, and all those doc fees (registration, etc.).

robertw477

I would not have paid the 193.00, but thats me.

Rob

avalon2000

A NYC Honda dealer just told me that the 4 door sdn 2009 EXL-V6 w/Nav residual for 36 mo., 15K, is only 51%. You concur :confuse:

robertw477

No matter how I look at another lease or leasing company American Honda seems to come out on top every single time. They are quite liberal at lease return. My parents and brother never got assesed one penny for worn tires etc. They have no Bank Fee like many others and no lease end fee which are 350.00 and up with every other lease company.I have leased more than a dozen cars from AHFC. Never an issue.All those other lease deals with 800.00 bank fees and huge dealer fees.

Rob

jlee8071

Dear all,

I got the following quote. Please let me know if I should go with it. Thank you.

'09 Accord LX
0 down
$254 (3yr 36 months)

Drive off= 1st month+Lic. Fee=$648

Josh

area51ufo

Just got this quote. What do you guys think?

2009 Accord Sedan EXL (auto) - $384.84 per month

36 months, 15,000 miles per year, and $0 out of pocket. All fees have been rolled into the payment.

Sale Price - $22,718
Taxes - $1,742.89
Document Fee - $151.65
New License Plates - $144
Residual Value - $14,349.75
Money Factor - .00171

robertw477

Where do you live? I feel you can do better. In south fla the honda guys are competitive. I was quoted for the same car 12k miles 315.00 with no cap reduction. Just approx 600 at closing for first month, tags etc. Usually 15K miles is about $20.00 extra per month or so. Are you sure you need 15K miles? If not and you go a little over on the 3 years Honda will probably not charge you. They have not charged me and my business partner for excess mileage ever. I think a good price would be about 335 plus tax. You have wiggle room.

Thanks
Rob

jlee8071

Hello Sleepysoo,

Can I ask which dealer you went to for your accord lease? I take the monthly payment is about $274 before tax?

thanks