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2013 and earlier-Honda Accord Lease Questions

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Comments

  • bvdj84bvdj84 Member Posts: 1,724
    Some of the prices on Ebay are impressive on the 08 Accords, you can get one for around 26k, EX-L4cyl, Navi. I am not sure I need the navi, but I feel if I am going to hassle to trade my next lease, then I am getting everything. But, I can pick up an EX-L for around 24k, and that is a good price. I am not sure on the numbers, but other cars are looking better financially. I want an accord though.

    I will be glad to be able to wash my car, I hate winter!!
  • basballhatbasballhat Member Posts: 5
    I need help analyzing my lease. apologies in advance for the length of this, but i'm having a lot of trouble getting the numbers on my lease to work out to the one's i negotiated and was hoping you could help.

    i negotiated a price on an EX-L V-6 w/o nav of $25705 including destination and had agreed on a residual value of $17503 for 15k/yr for three years with a MF of .0027

    these are the numbers on my lease:

    agreed upon price of vehicle: $25705
    acquisition fee: $595.00
    Gross cap cost: $26300
    Cap reduction cost: $745.93
    Adjusted cap cost: $25554.07
    RV: $17503.95
    Depreciation: $8050.12
    Rent charge: $4185.36
    Total base of payments: $12235.32
    Monthly before tax payment: $339.87

    Amount due at lease signing $1410.70 which included:
    Cap cost reduction: $745.93
    Tax: $57.81
    Registration: $232.00
    Tire fee: $8.75
    Fee paid by dealer which supposedly included my 1st months payment: $501.95

    i had told them i didn't want to pay any cap reduction fee, but when i sat down to sign, the $745.93 was there. when i protested he said if he took away the $745 he would be showing a loss on the vehicle and couldn't do that (have you ever heard of this?) he did, however volunteer to cover my first months payment which increased the dealer contribution on the amount due at signing from around $134 to the $501 value above.

    i've gone over this lease ten times and i still can't be sure if i'm getting the numbers i negotiated. can you help? what do you think of the deal overall? thanks in advance.
  • bvdj84bvdj84 Member Posts: 1,724
    $504, for the first payment? That is really HIGH! You can get a C Class Mercedes, Acura, Audi, BMW, for that price... you need to keep working on that deal on move on, because if your agreed upon price is 25k or so, than your payment shouldn't be that high, it should be in the mid $300's, Even a MSRP of 28k, your payment should be pre-tax under $400 a month. That is with $0 down as well.

    Now, if it doesn't feel right, than its not right, save yourself the stress, and move to another deal elsewhere. Or do more research, and present them a better deal. Its not worth getting all upset, it is a big deal, getting car, and no one is forcing you to take the deal. Do what feels right, but I would keep trying, because if your payment is too high, or if you don't feel good about it, than it takes some of the joy out of the new car experience, and thats not worth it. It is not that complicated, there are dealers out there that will work with you. Do online quotes first, $0 down. Then make your move!! Trust me, it'll be worth it.

    And to think some people would actually would do this deal, but they don't know any better.

    Good Luck!
  • basballhatbasballhat Member Posts: 5
    not quite sure where you're getting $504 as the monthly payment. pre-tax monthly payment is pretty clearly marked as $339.87.
  • nomisnynomisny Member Posts: 11
    I've been quoted $449/mo 36 months 12k/year for an ex-l v6 6MT w/ Navi
    Nothing due at signing except first month and plates ($100+)

    Car will have to be ordered (6-8 weeks)

    I havent really started haggling yet...any input would be appreciated.
  • foxhoundmefoxhoundme Member Posts: 29
    Could you itemize the details of you deal and which dealership you use to obatin this great deal?
  • nomisnynomisny Member Posts: 11
    I dont like using details to haggle (money factors, etc) b/c they can always use the numbers against you...I find it better to give them a ridiculously low offer and work my way to a reasonable payment...I told them Im currently in a 05 4dr ex-v6 no navi for $365/mo (again 1st mo/ plates only---which I am), and proportionately I should be paying low 4s since the new car is about 3k more...after hearing the BS about how the coupe is rare etc etc...I got that number from two nyc area dealers---one wont finalize until the car came in b/c he wont know what the money factor will be at that point, but one will---($500 sec. dep to lock in the price)
  • vital411vital411 Member Posts: 67
    My long awaited EX-L I4 Navi MT has arrived and now we are negotiating the lease.

    The MSRP is 27895 and the agreed upon purchase is 26195 + 550 for the rear wing spoiler = 26745 as a capital cost.

    The lease payment i was given was 454 / mo for a 3yr 45k mile lease. ( I asked where they got this number from and this is the numbers given)

    Residual 58% and MF is .00270

    The residual seems awfuly low, i thought it was 63%?

    Can someone verify this?

    If i plug these numbers into a lease calc i still don't get the 454 they are asking, i get 438.05 (Incl RI 7% tax).

    Using 63% i was getting 400.62 which is what i was expecting.

    Any help is appreciated.

    Thanks,
    Andrew
  • bvdj84bvdj84 Member Posts: 1,724
    Keep trying, that payment is high, Carman in earlier posts, gave lease quotes for models like yours, look at though, and that will give you an idea of what you should be expecting. Your payment will be a bit higher, because of your annual mileage.

    Good Luck, Stand your ground, and tell them that they are wrong.
  • vital411vital411 Member Posts: 67
    Thanks for the reply,
    Though i do agree the number is high I know the dealer only (or should only) set the purchase price of the car, in this case that seems where i want it to be and inline with what others are paying.
    What the dealer can't (or shouldn't be) controlling is the Residual and MF, i'm supposed to pick the car up on monday but i want to verify that the numbers he is using are accurate Honda numbers.
    I can't imaging the Residual changing from 63% to 58% in one month but if that is the January program i really have no choice as i need a car now and can't wait any longer. (Turned my old lease in on Nov 10th and have been borrowing my father's truck ever since).

    CARMAN, or ISELLHONDAS, or another dealer on here, can you please help me verify these numbers?

    Does anyone know if i can call Honda financial and get the numbers from them?

    THanks everyone,
    Andrew
    [
  • dwynnedwynne Member Posts: 4,018
    The dealer can't change the residual, that is set by the lease bank.

    The dealer can bump up the lease money factor for extra profit. The "buy rate" is what you want, but the dealer does not have to give it to you. Also keep in mind that the rates you pay depend on your credit score as determined by the lease bank. They often use an "auto enhanced" calculation that weighs car loans and leases more heavily. So you could have a tier 1 FICO score but with no or little or bad car credit history you could end up with a tier 2 or 3 auto enhanced score. The rate offered to you by the lease bank is based on this score plus any additional markup the dealer chooses to add.

    In my experience, most Honda dealers do not mark up the lease money factors. Those that do tend to be dealerships owned by large companies and they also usually have large "doc fees" as well. You can get deals from several dealerships and compare the numbers - not just for the price of the car but on the lease MF as well. If they all have the same MF then the odds are good that is the buy rate. You can also just asked them, the majority of the time when I have asked any dealer if they mark up the buy rate they admit it if they do.

    If you look at the current offers page on the Honda web site, they show the Accord as a "standard lease" and not a "special lease" which is a clue that the numbers will not be great. The residual on a 36/36k LX auto lease shown is 63%. If you plug the numbers they show into a lease calculator from the deal the MF solves as 0.0027 or 6.48%, which is nothing special. Also note that the current offer only runs until 1/10/2008, ALL of the other lease deals shown do not expire until March. So I would guess that after the 10th the Accord deals could change - and hopefully to something better, but you never know.

    Note that the residual and MF from the lease example shown on the Honda page is only for the LX w/auto. They usually have different residual percentages and different MFs for various trim levels so those numbers are not likely to apply to another trim lime - but I would think they would be fairly close.

    Dennis
  • vital411vital411 Member Posts: 67
    Thanks for the response Dennis!

    I know that the banks set the residual - i'm just always Leary of things when they seem very out of the ordinary, like this residual.

    The car is supposed to be ready to pickup on monday but i will stall until friday to see if the rate goes down. (maybe the residual will stay the same if it is infact accurate but maybe some relief in the MF will come on Friday as it's been at .0027 since Sept.)

    If anyone has any news / insight I would appreciate it if you could share.

    Thanks,
    Andrew
  • rsomorsomo Member Posts: 2
    Carman, based on quick independent calculation, the lease payment you have been quoted of $339 per month is consistent with the vehicle price and other numbers you have been given.
  • roadtoruinroadtoruin Member Posts: 2
    Just picked up an 08 Accord EX sedan...36month/18k per...1st month and reg up front..no down $..no junk fees..$350/month includes 6% tax....Basically Invoice..let 'em keep the holdback. Thanks to the forums, you can know your number and just go get it..whole transaction took minutes...

    What a great car!!! and it sips fuel......
  • david250david250 Member Posts: 7
    quoted Jan 5th.
    Lease - Accord sedan EXL 4cyl
    10,000 miles
    36 months
    $1,800 down
    $314.00 plus tax
    money factor - .002700
    Res. - 62%

    Bought Jan 5th
    Acura TSX 2008 non Nav:

    $292.45 plus tax per month
    10,000 miles
    36 months
    $1000 down
    money factor .0035
    Residual: 58%

    couldn't justify $20 more per month, $800 more down and higher residual to get new body styled honda. Also, i got blue tooth and 15 more HP. Owned 4 Accord's previously and this is my first Acura. Wish I could have waited til spring when pricing are really going to drop!!!
  • foxhoundmefoxhoundme Member Posts: 29
    It looks like you have a good deal going with the Acura. You mentioned prices dropping for Honda this coming spring, where did you get this rumor?
  • bvdj84bvdj84 Member Posts: 1,724
    If anything, you can probably get a better deal now, than in the Spring, only because business is a little slow, when the weather is nice, it'll bring in more people.... They'll be better deals, but perhaps the competition that'll keep you from getting that deal.

    Your TSX has the same engine in it, as the 06-07 accord, but it is modified a bit, your still driving a Honda product. Your resale will still be high. Even 04 TSX's sell for high dollar.
  • dwynnedwynne Member Posts: 4,018
    In the past, the deals got better (larger dealer money, cheaper leases) in the spring. I don't know why, but that was the way it was. No one knows for sure what the future will hold, but if you don't have to have a new car now then waiting a few months could result in better prices.

    Dennis
  • rokkfordrokkford Member Posts: 6
    I'd appreciate any/all help with this. I'm negotiating a lease for a 2008 Honda Accord Sedan LX-P (automatic transmission). Terms as follows:

    36 months / 12,000 miles per year
    Money Factor: .0027
    Residual: $14,360

    $0 down

    Dealer quoted lease payments of $344/month + tax/fees.

    The payment seems in line (I think), but doesn't the base cap cost work out to be fairly high?

    Thanks,

    Rob
  • bvdj84bvdj84 Member Posts: 1,724
    That payment seems a bit high. You should be able to get an EX-L for the price, $0 down. What was your negotiated price? Look at previous posts in the forum, and you'll see that Car_man did lease estimates on models, like the EX-L, LX. It is a fairly good deal, but I think you could be in an EX-L for that price.
  • rokkfordrokkford Member Posts: 6
    Thanks, bvdj84.

    I think you're right. After doing the math, it looks like the base cap cost is around $22,500, which isn't much below MSRP. Not a good deal.

    I'll definitely take a look at Car_man's estimates as you suggested.

    Rob
  • rokkfordrokkford Member Posts: 6
    A follow-up:

    The dealer says cap cost is $23,262, which includes a $595 acquisition fee and $599 dealer fee. Seems high to me. With tax, my monthly payment would be around $370.

    - Rob
  • bvdj84bvdj84 Member Posts: 1,724
    Ya, that is high, I leases my 06 accord at $22k and I pay $318 with tax. So, something is not right. Even at 23k, your payment should still be more reasonable than that. You are literally so close to the price of the EX-L. The $370 would definitely get you in an upper trim level. At $28k you should be around $380-400 range, and 28k, would buy you an EX-L Navi, or EX-L V6. Perhaps, Even a little closer to a fully load EX-L Navi V6 at $400+ or so a month. Its your choice, there are other dealers, perhaps email some other dealers, presenting this offer, and see what they have to say. For the money, I would go a trim up, to the EX or EX-L, your really not going to see much difference in payment. Just start with a basic EX-L and work down. More bang for the buck.
  • rokkfordrokkford Member Posts: 6
    Agreed. I spoke to the salesman, and he won't budge. He says the actual selling price is $21,328 and that the difference is due to the fact that I'm not putting any money down. The final numbers look like this:

    Base Cap Cost: $22,068
    Acquisition/Dealer Fees: $1194
    Adj Cap Cost: $23262
    Residual Value: $14,360
    Money Factor: .0027

    With no money down and waived security deposit, my payments would be $348.86 plus $24.42 tax = $373.28 total payment.

    I'm still undecided on whether or not to go for it.
  • bvdj84bvdj84 Member Posts: 1,724
    Well, if it doesn't feel right, than don't do it. You can do better, but obviously not with this dealership, go ahead, send some quotes to other dealerships, start with $0 down. Always ask for a sale price, perhaps throw in a reasonable price of your own. Perhaps, they'll be a dealer that is dealing better. Either drive farther for a better deal, and feel better about it, or present this deal in print to this dealer and maybe they'll match it.
    For me, when I trade this spring, I am going about 1hr away to deal, rather than here in my local town, they won't deal. If you take the deal, you'll be less than satisfied everytime the payment is due, knowing that your paying too much. Be patient, give it a little more time, and then go for it. Then, that way you know you have done everything, and that is the best deal. Do what feels right. The dealer is set to make money, and losing you, doesn't matter to them, Email quotes are awesome, present this deal, via email, and see if another dealer can do even better.

    Hang in there, if I were you, I wouldn't take the deal, you don't feel good about it.
    It'll be worth it, if you wait for a better deal.
  • rokkfordrokkford Member Posts: 6
    I agree. Thanks for the input. I've sent email requests to several other dealers and let them know that I already have some numbers. Maybe I can get a better deal with one of them.
  • nomisnynomisny Member Posts: 11
    Anyone have some insight as to what's covered and what's not under th $1,500 allowance?

    I read in another post that if 1 incident totals more than $500, that particular damage is not covered AT ALL---they dont cover the first $500 of a single damage, in other words.

    Right now I have a dent on my fender that put a very tiny dimple at the edge of the hood. The bumpers are scratched up but not cracked. And the passenger mirror got knocked off and its being held by tape...still able to be operated by power adjustment though.

    Any input/experiences would be appreciated.
  • bvdj84bvdj84 Member Posts: 1,724
    Well, they mean normal wear and tear is covered, 1,500 is not alot, and you will probably better off selling privately or take the hit on your trade in equity.

    Now specific items, I am not sure, but probably meaning that it'll cover normal dents, scratches, I see alot of times that dealers will circles dents and scratches on cars that are being traded in, and they subtract that off your allowance, and then eat in to your trade in value.
  • jaxs1jaxs1 Member Posts: 2,697
    You banged that car up too much. Can't you get a pre-inspection and see what they would charge and then see if you can get it fixed at a body shop for less?
    Is the interior messed up with tears and stains? If so, you will need to get that fixed and cleaned up too.
  • imscfimscf Member Posts: 34
    I leased a 2008 Accord EX-4 Auto for the advertised cost of $249/month, 10K miles/year, for 32 months. $ 0 down, $ 0 bank fee, $ 0 security deposit. I only paid the taxes and first month payment + title/registration. I turned down all other after-deal add-ons. I made the deal on Dec 31. The dealer is Huntington Honda in Long Island, NY.
  • bvdj84bvdj84 Member Posts: 1,724
    That is really great! Is that the special that is going on right now?
  • dwynnedwynne Member Posts: 4,018
    They said they made the deal on Dec 31, so that promo has expired. The current deal is not very good, but the Honda web page shows that it expires after 1/10 so maybe better lease deals for Accords will appear then.

    Dennis
  • nomisnynomisny Member Posts: 11
    I've been shopping around for an Accord Coupe...dealers tell me that the current money factors and residuals are not good.

    Dealers dont seem willing to give me a firm lease quote, instead giving me a ballpark rate that may change, depending on when the car arrives since my 6MT may take up to 2 months to arrive.

    The Fed today announced that interest rates may be falling. Will that have any effect on money factors/residual in the next couple of months?
  • dwynnedwynne Member Posts: 4,018
    Not really. Honda Finance is a captive lease bank and can do whatever they want or need to in order to move cars. 3rd party lease banks would be effected by the change in the prime rate or other economic indicators.

    The dealers CAN'T give you a lease quote as they have no idea what the rates will be when your car arrives and whatever it is they and you are stuck with it.

    Hondas are sort of commodity cars - they don't have long option lists, just trim level, color, and transmission choice. You can't find an acceptable Accord to lease sitting on a lot already or on its way? If you order a car then you are generally going to pay more and be stuck with the current lease numbers when it comes in. If you find the car yourself then you wait for the lower lease numbers and pick it up at that time. If you were looking at a Toyota, for example, where everything is an option then the odds of you finding a suitable car with only what you want on it would be quite slim - unless you order it or accept extra stuff. 6mt does make it a bit more of a challenge, but I would think some looking around might turn something up. I like to go where the car and the deal is, rather than working with a dealer that has nothing on their lot I want.

    Dennis
  • bvdj84bvdj84 Member Posts: 1,724
    If you look on ebay there is a red 08 Accord coupe, with extras, its looks really nice, but they had said the car retails for over $30k, the CAR itself does not retail for that much. Also, it is an EX-L with out navi, so at $26k, that is MSRP. Their acting like this is some insane rare car. Its a new and awesome body style, but ripping off the customer..... come on... I emailed them back to tell them that they a misleading the price of the actual car.

    They replied, "Sorry you feel that way" That shows how low of scum they are.
  • nomisnynomisny Member Posts: 11
    Thanks dwynne...either way I feel that like any other car, the novelty has started to wear off after New Years for the coupe...A dealer told me today that the coupes are starting to come in steadily.
  • bvdj84bvdj84 Member Posts: 1,724
    They are all coming in at steady pace right now, and most models can be obtained easily now. So dealers are finding that they can no longer use that excuse.

    What I don't understand is that, why would they want to keep the car on on the lot for months, than to have it moved for a little more discount. I think that all of us can say that if they are willing to give us a realistic discount, not huge, but reasonable, than we are more than likely to go with the deal. But, they would rather turn us away, and keep the car on the lot to collect dust. I would rather move them off the lot, than that way were still getting income, getting our name out, and helping honda to get the new 08 accord out on the road. That looks good on all counts. A dealer not moving many cars, high prices, does not look good at all. Its not always about price, but the whole process. There too much focus on price. A car sitting on the lot, is not making them any money.

    Well that is my .02 for ya.
  • vital411vital411 Member Posts: 67
    The Honda website had a lease program running from 1/2 - 1/10. Im' waiting to pickup my car (that i ordered back in Aug and finaly arrived last week). but saw the 1/10 date and was waiting for the numbers to hopefully improve.

    Does anyone have Residuals and MF taht went into effect today (i just want to provide a check and balance against what my dealer gets back to me today).

    I'm specifically looking for the EXL Navi MT 3yr 45k lease numbers, but if you have them all i'm sure everyone would like to see the list.

    Thanks for any help!
    - Andy
  • vital411vital411 Member Posts: 67
    I just wanted to describe my final deal as i've been posting on here for months and it's been a huge help.

    MSRP Incl Dest. 27895
    Invoice: 25328
    Sale Price 26300
    Money Factor .00265
    Residual 58%
    Payment w/o tax (393.71) (w/ 7% RI tax it came to 421.27)

    This includes the Rear Wing Spoiler, i'm not sure what invoice on that is but i know it has to be installed by the dealer, he quoted me 550 extra for this installed (MSRP on honda's site is 599 + install).
    I'm not sure what the final number came to for the spoiler but still i ended up less then 1,000 over invoice with the accessory - figuring invoice on that is probably 250 or so i ended up walking away with the car about 850 over invoice.
    Including holdback dealer made about 1200 bucks which is a fair profit for them,a nd i believe a good deal for me.

    The rates are bad on leases, but i need the car now so can't wait any longer.

    Thank you to all who helped me out by responding over the months. I'll stick around a few weeks to see if there are any questios i can help with.

    Thanks!
    Andy
  • bvdj84bvdj84 Member Posts: 1,724
    Your right, the lease rates are bad, that explains why your payment is so high. Oh, well atleast you got what you wanted.
  • dwynnedwynne Member Posts: 4,018
    The new "deals" are up on the Honda web page and all the Accord leases say "standard" and not special, and they are not special. I plugged the LX "deal" into my MF finder spreadsheet and it comes up 0.00265 (6.36%) and 63%. The residual is not bad, but that standard MF is horrible.

    No help from a 3rd party lease either, the ALG residual on the LX AT is 54% - so while you can get a better MF from a 3rd party bank the much lower residual means a higher payment that the already high AHFC payment.

    Note that because this month ends on a Thursday, the current deals end at the end of the month for a change.

    Dennis
  • luvhondas12luvhondas12 Member Posts: 1
    How did I do? 2008 LX-P Sedan 36 months/12,000 miles per year. I bought it January 4th.

    Sale Price - $21,570
    Residual - $14,363

    $0 down - Dealer covered first month plus tax/tags/fees ($1300 total)

    Payment - $293 + tax = $320.00

    I wish I knew the money factor...Does anyone know what it was on Jan. 4?
  • bvdj84bvdj84 Member Posts: 1,724
    You did good. I pay about that much for my 06 with a sale price of 21k. Have fun!
  • bvdj84bvdj84 Member Posts: 1,724
    I just received this quote just now. On an EX-L Navi, and EX-L without navi.

    This is a horrible deal. Notice they didn't put a sale price. I offered, but still didn't show they used it. How far are they off?? How much mark up???

    Hello, our lease price on the 2008 Accord EXL with Navi is $478.00 per
    month for a 36 month, 12,000 lease and $430 for a 48 month lease. For the
    2008 Accord EXL it is $398.50 for 36 months and $366.50 for 48 months.
    These payments are based on Hondas super preferred credit tiering and
    require first payment and our $80.00 documentation fee at the time of
    leasing. Thank you ,********
  • omahabikeromahabiker Member Posts: 4
    I was 100% sold on the new Accord Coupe. But, after reading some of the posts on here about Acura's great lease rates, and seeing how lousy the Accord lease rates are, I decided to consider the TLs as well. I drove an Accord Coupe and TL back to back. I LOVE the looks of the Accord exterior, but other than that, the TL just felt more refined.

    Anyway, for what it's worth, here's the lease deal I got on an 08 Acura TL Automatic.

    36 Month / 12K miles per year
    0 Down (first payment only)
    $410/month (5.5% tax included)

    Just thought I'd let everyone know in case they are turned off by the Accord's lease rates.
  • dwynnedwynne Member Posts: 4,018
    The lease numbers are horrible, they have high MFs: 0.00255 and the residual are not great (59% on the the model you chose) which makes for a bad lease. If you forgo the NAV system the residual goes up 2% and the price goes down so your net payment is a good bit less, but still not great.

    A salesman I have worked with in the past said he would do 1% over invoice on all new Accords then add their doc fee to that. Not a bad price, but he can't do anything about the bad lease numbers either.

    You can check 3rd party lease banks, they should offer a lower MF but likely a lower residual as well.

    Dennis
  • dwynnedwynne Member Posts: 4,018
    Does anyone have Residuals and MF that went into effect today (i just want to provide a check and balance against what my dealer gets back to me today).

    Per Tarry at Leasecompare.com:

    2008 Honda Accord EX I4 Sedan Automatic
    24 Month – Residual 69% of MSRP – .00355 Base Rate
    36 Month – Residual 61% of MSRP – .00255 Base Rate
    48 Month – Residual 52% of MSRP – .00235 Base Rate
    60 Month – Residual 37% of MSRP – .00245 Base Rate

    2008 Honda Accord EX V6 Sedan Automatic
    24 Month – Residual 68% of MSRP – .00355 Base Rate
    36 Month – Residual 60% of MSRP – .00255 Base Rate
    48 Month – Residual 51% of MSRP – .00235 Base Rate
    60 Month – Residual 37% of MSRP – .00245 Base Rate

    2008 Honda Accord EX-L I4 Sedan Automatic
    24 Month – Residual 66% of MSRP – .00355 Base Rate
    36 Month – Residual 60% of MSRP – .00255 Base Rate
    48 Month – Residual 51% of MSRP – .00235 Base Rate
    60 Month – Residual 35% of MSRP – .00245 Base Rate

    2008 Honda Accord EX-L I4 w/Navigation Sedan Automatic
    24 Month – Residual 64% of MSRP – .00355 Base Rate
    36 Month – Residual 58% of MSRP – .00255 Base Rate
    48 Month – Residual 49% of MSRP – .00235 Base Rate
    60 Month – Residual 34% of MSRP – .00245 Base Rate

    2008 Honda Accord EX-L V6 Sedan Automatic
    24 Month – Residual 66% of MSRP – .00355 Base Rate
    36 Month – Residual 59% of MSRP – .00255 Base Rate
    48 Month – Residual 50% of MSRP – .00235 Base Rate
    60 Month – Residual 35% of MSRP – .00245 Base Rate

    2008 Honda Accord EX-L V6 w/Navigation Sedan Automatic
    24 Month – Residual 64% of MSRP – .00355 Base Rate
    36 Month – Residual 57% of MSRP – .00255 Base Rate
    48 Month – Residual 48% of MSRP – .00235 Base Rate
    60 Month – Residual 34% of MSRP – .00245 Base Rate

    Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms

    As you can see, the rates are bad - check out those 24 month rates - that is 8.52% on a lease!

    You can check the 3rd party rates with your dealer or with a broker like Leasecompare.com and see if you can lower your payment. They should offer a lot lower MF but the residuals will be more "real world" (meaning lower) so you have to look at the net payment.

    Dennis
  • bvdj84bvdj84 Member Posts: 1,724
    Okay, well you know what, I am looking to get a TSX, more car, for less money, unless I wait for better Accord numbers.
  • dwynnedwynne Member Posts: 4,018
    All Acuras are like all Hondas, good stuff :D . I would say the TSX is more like a Civic with leather than the new Accord, which would be more comparable to the TL.

    I sales are such they Honda does not feel the need to stimulate them further with lease deals. I think they fail to realize that there are a lot of folks (like me) that love to lease and are not going to lease something if it is a bad deal. There are just too many good promo lease deals available from the competition - even if that competition is Acura.

    They should switch Acura to RWD IMHO, I just can't get excited about paying "luxury money" for a FWD car when I can get a RWD G or something else for about the same price. The TL type R is a good example, it would be a super car if it were only RWD. With FWD dealers are still stuck with 07s and they have big incentives/cheap leases to try to move any model year type R. Folks that can afford the asking price just said "I would rather have something else".

    In any event, the current non-special Accord leases show they are good until 1/31/2008 while the special deals on other models are good until 3/3/2008. So in another 18 days maybe we will have some better numbers.

    Dennis
  • bvdj84bvdj84 Member Posts: 1,724
    Ya, well, I really want an Accord, because it is more realistic and practical for me, but silly to have a huge payment, that could be buying much more car somewhere else, like an Acura.

    lease for $478 on an EX-L. Honda Dealer

    Or I could put down 1k, and get a TSX with Navi for $336. Acura Dealer
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