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2013 and earlier-Honda Accord Lease Questions

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Comments

  • htownpimp786htownpimp786 Member Posts: 80
    edited April 2011
    Car man,

    Do you think (from my earlier post above) that this is a good lease deal? Also, is the 54% residual on the car correct? Does it matter if it's not in a negative manner?

    Please let me know!

    Thanks!
  • amceweamcewe Member Posts: 1
    I live in the Houston area and am looking for the exact same Accord. I just left Spring Branch Honda where they wanted $395.00 a month with 12k allotted for mileage. MSRP was identical to yours; $27,855. I attempted to logically talk them down but the manager wouldn’t lower the payment (my credit was not an issue). Needless to say I didn't sign the lease. The $1250 worth of incentives is no longer in affect for April but there is $0 down now (not sure is this was a March special also given you state you put $741 down). Would you post the name of the dealership you leased your Accord from? The forum policy says to not state a salesman name but if you know a way to email me through Edmunds to provide the contact person I’d much appreciate it. I’d be happy to provide you as a reference if the dealership offers a referral bonus.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi htownpimp786. The selling price that you were quoted looks great and the lease program is correct.

    Car_man
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  • ccqccq Member Posts: 7
    Hi amcewe,
    I leased my 2011 EX-L Accord Coupe through Russell & Smith Honda on the last day of the month, after emailing all the Houston area dealerships with my color combination in stock. They offered the best price up front, and had no dealer added options to deal with, aside from tint, which they lowered to $150.00. They too tried to get a much larger price per month once I arrived, but I had a print out with a lease calculator stating the price I expected to pay, the residual, and money factor for a 15,000 mile lease, (which I got from Car Man the host on this site, Thanks again Car Man!), and the M.S.R.P. of the vehicle and explained my calculations, and how I would not pay any more than what I had figured. After looking it over, and realizing I could take or leave the car, they went for it. I'm thrilled with the car, and am happy with the payment. I must add that both Spring Branch, and John Eagle gave me the biggest run around about price, and seemed the least interested in making a deal with me. Just an observation. Going through the internet department as well was ideal for me too, as most of the negotiating was done via email. Good Luck, . . . and I hope you get a great deal! :shades:
  • ahqahq Member Posts: 37
    Don't know about the 2011 model, but the dealer I leased my 2010 Accord LX from still had over twenty new leftover 2010 Crosstours in stock this past February. They had a special lease at $269 per month for the 2010 Crosstour EX-L AWD, but without navigation. That's with zero down, 36 months, 12K miles per year through Honda Financial. Not a bad deal for a car that stickered at $34,800. I think they got rid of all these cars within a month. I'd be surprised if you can get anything close to that for a 2011 model. Good luck.
  • ezguideezguide Member Posts: 4
    Hi Car_man,

    What is the residual and money factor for a 2011 Honda Accord EX (auto 4cyl)?

    Also, I was told that since the earthquake in Japan, the cost of the honda accord has gone up. Is this true? I thought the honda accord is made in the US. Thanks
  • amoszkowiczamoszkowicz Member Posts: 7
    Hi,

    I'm still about 9 months away from obtaining at least 1 new car (myself and wife) and learning about leasing. I see these deals offered, such as this one:

    "2011 Accord Sedan 5 Speed Automatic EX Featured Special Lease
    $209.00 per month for 36 months. $1,999.00 total due at signing.
    Includes down payments with no security deposit. Excludes taxes, titles and dealer fees. For well qualified lessees. "

    Are these deals generally good, or is it better to haggle over the price of a car, etc and figure out the MF, residual, gap coverage?, etc

    I'm new to buying and leasing a car. I have been living in new york city for past 3 years so I have not needed a car, but will be moving next year. Trying to learn what I can now.

    Thanks.
  • ezguideezguide Member Posts: 4
    Hi Everyone,

    I am in California and want to lease a Honda Accord EX (auto 4cyl). Does anyone know the residual and money factor? Are the residual and money factor the same as the EX-L? Please help, thank you.
  • rawbombrawbomb Member Posts: 22
    Hi Car_Man

    Can you give me this months lease rates for the Accord EX-L Coupe w/ navi 12k miles or the Accord EX-L Sedan w/navi? Local dealers seem to be giving me the run around on this and i have not been able to nail down the incentives, residual and MF for this month.
  • jett456jett456 Member Posts: 50
    I got an email from the Honda Dealer asking if I wanted to terminate my lease and get a new car for less than I am paying? They claim they need used cars. Sounds too good to be true. I am not really thrilled with the Insight and think I might want an Accord LXS coupe. What should I look for in making this deal? My Insight is an EX model with leather addon and navigation. Its a 2010.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited April 2011
    Here you go ezguide.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Honda Accord Sedan EX 4-cylinder with 15,000 miles per year are .00062 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    While the Accord may be produced in the U.S., many of its parts are still produced in Japan. A shortage of those parts has hampered the production for many Japanese automakers. A lower supply of vehicles usually equals higher prices. I've already noticed that manufacturers are cutting back on their incentives on small cars and hybrids in response to high gas prices.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go ezguide. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord EX 4-cylinder with 15,000 miles per year are .00062 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The money factor is the same for the EX, but the residual value is 56%.

    When negotiating your lease on this car, make sure to take advantage of the $1,500 in cash incentives that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, rawbomb. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Coupe EX-L 4-cylinder with 12,000 miles per year are .00062 and 54%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2011 Accord Sedan EX-L Sedan 4-cylinder are .00062 and 56%.

    Keep in mind that there's $1,500 in cash incentives on leases of the 2011 Accord right now.

    Car_man
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  • alfaromeo147alfaromeo147 Member Posts: 1
    edited April 2011
    I'm thinking of this Accord EX Auto sedan, msrp $25,655.

    The quote I got is $21.672 out the door. (20.329, tax 3.75)

    Should I lease it? What MF and residual should I expect? Super preferred (not sure I qualify) from the previous posts was .00062; 58%.

    Also, one thing I'm confused about is the $1,500 cash incentive: it sounds to me like the price needs to be above the invoice in order to take it?

    My quote seems to be really good, what should I shoot for in the lease? Or is the regular honda financing a way to go?

    Thanks for your help.
  • billykokomobillykokomo Member Posts: 7
    Hey Car_man -

    Sorry to be repetitive, but would you please review the lease buy rate and residual value for a 15000 mile per year, 36 month lease on an Accord EX-L 4 cylinder sedan? Are leases built up from a 12000 mile lease with additional miles @ $0.15 per mile? Or, are the additional 3000 miles per year for a 15000 mile lease handled by a lower residual? Or both? Also, how often do the lease by rates and residual values change?

    Thanks,
    BillyKokomo
  • billykokomobillykokomo Member Posts: 7
    Hey Car_man -

    Is the AHFC Acquisition Fee negotiable? Is the current fee $595?

    Also, as a suggestion to help everyone, consider posting a money factor lease buy rate and residual value matrix showing 12K, 15K, and 18K mile for each level of credit worthiness. Consider doing it for each model.

    Invariably, some of us miss your answers to a previous post and / or the details that effect the lease numbers are not the same. Just a suggestion.

    For instance, I am very close to pulling the trigger on an Accord Sedan EX-L 4 cylinder automatic. I am not sure about 15K or 18K miles, and while I think I am "super preferred" as far as credit is concerned - I am not sure. None of your previous recent posts with currently correct info has addressed this model and mileage and credit rating, that I could find.

    Thanks,
    BillyKokomo
  • cooper101cooper101 Member Posts: 3
    Hi Everyone,

    I am looking to lease a 2011 Accord EXL V6 sedan from a local Honda Dealer and was looking for some advice. First time leasing so I don't want to be ripped off. Dealer has a special $269 a month, 36 month lease, 12000 miles/yr. I spoke briefly to the dealer on the phone, did not discuss any prices but he made me aware of some upfront fees I would need to pay the following..

    $595 Acquisition fee
    $119 tax title and license
    First month payment+tax - $283.00
    Lease title transfer $184.00 Not sure if this is a typical charge, but sounds madeup???

    Do you have a lot of room to negotiate price on these "specials" they run and advertised monthly payment. Also Could you please post Money Factor and Residual #s for 2011 Accord Sedan EX-L V6? 12k miles a year.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alfaromeo147. Honda Finance's current buy rate lease money factor for the 2011 Accord Sedan EX 4-cylinder is .00062 for consumers who qualify for its top aka "Super Preferred" credit tier.

    As far as the cash incentive goes, it is paid for by Honda...not the dealer. Negotiate a selling price that's as close to dealer invoice as possible on your new car and then have the dealer subtract the $1,500 cash incentive.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey BillyKokomo. Honda Finance's April buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L 4-cylinder with 15,000 miles per year are .00062 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda Finance's residual values for leases with only 12,000 miles per year are 2% higher.

    Honda's current lease program is scheduled to run through May 2nd.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey BillyKokomo. Yes Honda Finance's current base acquisition fee is indeed $595. This charge is levied by Honda Finance and it is not negotiable.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cooper101. Manufacturers' official advertised lease payments usually usually leave a little meat on the bone so to speak. Savvy consumers who are in areas that have a decent level of competition are usually able to beat them. Dealers' advertised leases vary. Some are bait and switch deals that are nearly unattainable, while others are beatable. The easiest way to get a good deal on the car that you want is to negotiate as low a selling price as possible on it, making sure that the dealer subtracts any available cash incentives.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V6 with 12,000 miles per year are .00062 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • ezguideezguide Member Posts: 4
    edited April 2011
    Hi Car man,

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Honda Accord Sedan EX 4-cylinder with 15,000 miles per year are .00062 and 56%.

    Is the current buy rate lease money factor and residual value the same with 12,000 miles per year for 2011 Honda Accord EX auto 4-cylinder? Thank you very much for your help Car man.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey ezguide. The money factor for a lease with only 12,000 miles per year is the same, but the residual value is 2% higher.

    Car_man
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  • mjafarymjafary Member Posts: 3
    Hi. Are you getting $269 lease payment a month for a new 2011 Honda Accord EXL V6 ?? Which city/state are you in ? Whats the buy back at the end of 36 months?

    Actually, I am planning to move to Phoenix next month and have been in conversations with the dealers there. The upfront monthly payment for EX they have quoted is $293.07.

    Your deal seems to be a really good one compared to what I have been offered. Can you please give me additional details as I fear like the dealerships in Phoenix will rip me off!! Did you bargain a lot ?
  • cooper101cooper101 Member Posts: 3
    Hi mjafary, I am getting $269 a month lease for a 2011 Accord EXLV6 sedan. The dealership was running a special, the buy back at the end of 36 months was close to $17000. Great deal I couldn't pass it up.
  • soplushsoplush Member Posts: 29
    I got a letter from my Honda dealer with a similar offer. Did you pursue? If so what was the outcome? Were you pleased? I'm considering a CRV or Crosstour. Thanks.
  • jett456jett456 Member Posts: 50
    I did go and test drive the car. The letter is basically just a tool to get you in there so they can try and sell you a car. They did not offer me any great deal at all. The salesman tried his slick tactics but to no avail. I was not buying it. The price of the car was inflated and the lease rate was 359 with 0 down. Not really zero down. It was in the are of 650. This was for an EXL. I laughed and told him for that price I could have an Acura. He didn't like that. He was trying to convince me that it was a great deal and I should grab it. He was talking about negative amortization from my lease. I was glad I went though to check out the car and make me realize I dont want one and to stick with the Insight until my lease is up. If you go make sure you bring in what the price of the car should be to base the lease on. He wouldn't even tell me that even after I told him I knew what the dealer pays for the car.
  • jj116jj116 Member Posts: 2
    CarMan -
    Will probably lease an Accord Sedan EX-L V6 this month (No Nav). Can you please provide May residual and money factor for a 3yr 12k mile lease, and also let me know if there are any manufacturer incentives that are not advertised (I'm in Northern California)... Thanks!
  • marbetd77marbetd77 Member Posts: 13
    edited May 2011
    cooper101,
    Did you put any money down, and what state are you in? Does this have nav? Thanks in advance.
  • marbetd77marbetd77 Member Posts: 13
    CarMan,
    Looking for May residual and money factor to lease 3 yr/36000 sedan or coupe (need to test drive). First time leasing, don't want to get ripped off by dealer. Are there any Honda incentives for May? many thanks.
  • cooper101cooper101 Member Posts: 3
    Hi marbetd77 I put no money down, it does not have navi. I live in WI.
  • marbetd77marbetd77 Member Posts: 13
    Cooper101,
    What was the MSRP for this, and any other info I should know when trying to work out a lease deal (residual value, money factor, etc). Thanks again for your help!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for jj116. Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V6 with 12,000 miles per year are .00077 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing a total of $1,500 in cash incentives on leases of this car through Honda Finance.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi marbetd77. Honda finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan LX 4-cylinder with 15,000 miles per year are .00077 and 56%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of an '11 Accord Coupe LX 4-cylinder are .00077 and 54%.

    Honda is currently providing a $750 cash incentive on leases of Accord 4-cylinder models.

    Car_man
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  • marbetd77marbetd77 Member Posts: 13
    hello all,
    I have a question regarding the 2011 accord sedan EX-L V6 36 month/12K miles per year. I have the lease money factor as .00077, residual value 55% (super preferred credit tier). $1500 cash incentives. With all this considered, what is a good price for the lease? Last month Cooper101 posted $269/month, nothing down for this model. Is this still a good price for May?
    Appreciate any guidance offered.
  • rawbombrawbomb Member Posts: 22
    Id love to get some payments others have gotten aswell. I am looking for the EX-L V6 with navi and wouldnt mind knowing that the ball park i should aim for.

    One question about the rebate. Would the rebate allow them to go under invoice and still make money off the sale? I have never know if the invoice price listed on these cars already included the available rebates.
  • jackcestolajackcestola Member Posts: 1
    Hi I am looking at a 2011 honda accord EX 4 cyl. 12,000 miles 36 months. with a $3100 trade in. I have gotten a quote down to $188 month nothing else down and 35 payments as 1st payment is covered. It seems like a really good deal but just want to check if others have thoughts.
  • ezguideezguide Member Posts: 4
    Hi jackcestola,

    I'm from the los angeles area. I got the Honda Accord EX (4cyl, automatic, 12,000 miles, 36 months) 2 weeks ago for $290 per month (tax included).

    It would have been cheaper if I didn't have to pay for the GAP insurance. The finance guy said that "because of my low monthly payment, he had to finance me through US Bank instead of Honda financing." I argued that Honda financing includes GAP insurance and it is advertised on the "Honda Sale Event" But to make the story short, make sure you get a confirmation that you will be finance through Honda financing only.

    36 months payment
    $290 per month (including GAP insurance, Honda Care Package, and tax 9.75%)
    $0 down
    No trade-in
    I paid approximately $700 (including 1st month payment and resgistration fee) when I left the dealer.

    Hope that help and good luck.
  • infamouskid916infamouskid916 Member Posts: 2
    Currently have a 2008 Honda accord EX (4-cylinder, no navi) 12k mile lease. Paying $280/month. Put down roughly 3k. I am getting ready to trade in.

    I was offered 2011 Honda LX-P (lower model) for $280 a month. I would put down nothing out of pocket (I mean absolutely nothing) except first months payment.

    I personally think I was paying to much to begin with. Any thoughts?
  • sergeymsergeym Member Posts: 283
    Looks like cars with Navi have lower residuals. Is it true? Could you help me with MF and Residual numbers for 36 month, 10K per year lease? Thanks.
  • marbetd77marbetd77 Member Posts: 13
    Hello again,
    I've been shopping around, and for a sedan EX-L V6 I have this price:
    $346/month 3 yrs/12K miles per year (MSRP $30,180)
    $1019.51 Total due at signing includes MV Fees $399.00 Doc fee $269.00 Tire Tax $7.50 and 1st payment $346.00
    With nav, they said 50$ more per month.

    I also had higher quotes. Is this reasonable or no?
    Thanks.
  • sergeymsergeym Member Posts: 283
    Last month I got this offer for 4 cyl
    2011 Honda Accord Sdn Ex-L with Nav
    Lease Terms:12,000 miles per year,36months
    Lease payment $337.59
    Total Cash Required on Delivery is $435.09 + DMV
    Non-navi was $292. Looks like May offers are not as good as April's.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes rawbomb, with the $1,500 in cash incentives that is currently available on leases of the 2011 Accord the dealer would indeed be able to sell you the car for under invoice and still make money.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Generally speaking, SergeyM, yes vehicles that are equipped with navigation often have lower residual values than vehicles that do not have it.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V6 with Navigation and 12,000 miles per year are .00077 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 4-cylinder model are .00077 and 54%.

    I'm not sure if Honda Finance offers leases on vehicles with only 10,000 miles per year, but if it does then its residual values for that mileage allowance are likely 1% higher.

    Car_man
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  • sergeymsergeym Member Posts: 283
    Thanks. This is exactly what I needed.
  • shamcyshamcy Member Posts: 23
    Just got offered a lease last night on a 2011 Honda Accord EX V6 12k/36 months. zero down, free first month. Just TTL upfront. $290/month. Anyone getting better prices lately? Should I jump on the deal?
  • hiker10hiker10 Member Posts: 17
    To jackcestola, I'm in Los Angeles and wondering what dealership you went to. I was quoted $284 with $375 down and first month free for Honda Accord SE 2011.Wondering if I can do better.That's with Honda financing and good credit.Thanks
  • hiker10hiker10 Member Posts: 17
    The $284 is not including tax. Any help is appreciated.
  • hiker10hiker10 Member Posts: 17
    To ezguide, who is the car dealer in Los Angeles? Thanks.
  • marbetd77marbetd77 Member Posts: 13
    This looks good to me, my best quote for this lease is $341/month with zero down. May I ask what state you are located in?
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