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2013 and earlier-Honda Accord Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello vish_dc. Generally speaking, savvy consumers who live in an area that has a decent level of competition are usually able to beat manufacturers' official advertised lease payments by shopping around. Shop around for the lowest possible selling price on the car that you're interested in and then have the dealer calculate your monthly payment using its buy rate lease money factor.

    I'm actually a big fan of leasing...if the deal is right. Honda's current lease program on the 2012 Accord is fairly attractive so I personally would be inclined to lease right not.

    As far as the selling price goes, I personally would shoot for $500 or so over dealer invoice...which would turn into right around invoice once the $500 dealer cash is taken into account.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome budsdad.

    Car_man
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  • vish_dcvish_dc Member Posts: 16
    Thanks Car_man.

    I'm getting quoted invoice plus a freight/destination fee of $770. So that is $20,118 + $770 = $20,888. Is that a good deal or should I not be paying the destination fee.

    Also, I am being quoted a $399 processing fee. Is this standard with most dealers?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi vish_dc. Everyone has to pay he destination charge on new vehicles. The $399 "processing fee" is another story. This is nothing more than a charge being levied by the dealer to pad deals.

    Honda is currently providing $500 dealer cash on the 2012 Accord, so a deal at invoice is really equivalent to $500 over...$899 over once the "processing fee" is taken into account. Is this a good deal? It's not bad, but I wouldn't be surprised if you were able to beat it by a couple hundred dollars if you're in an area that has a decent level of competition.

    Car_man
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  • vish_dcvish_dc Member Posts: 16
    edited September 2011
    Thanks Car_man.

    I am now being offered an Accord LX-P for $255 per month (lease) under the same terms as the $250 per month advertised program. I asked what sale price they are using to calculate this lease payment and they said around $21,650 (including freight). Is there a way to confirm this? I tried using the calculator on the Honda website but it gives a lease payment of $383 per month for the price mentioned. I am assuming that the $250 per month advertised program uses a lower money factor which the payment estimator on their website is not using. If that is the case, I would appreciate it if you could provide the money factor for that lease program, or any other information that may help me calculate the sale price.

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome vish_dc. Ultimately there will be a way to confirm what selling price they are using to calculate your car's payment because it will appear on your contract when you go to sign.

    Payment estimators on websites are notoriously inaccurate for some strange reason. One would think that automakers would update them with the latest and greatest program info, bot for some reason they often don't.

    Using an MSRP of $23,950 and a selling price of $21,650, I estimate that a 2012 Accord Sedan LX-P would have a 36-month, 12,000 mile per year, zero down, pre-tax monthly payment of around $221.

    I used a money factor of .00050 and a residual value of 60% to calculate this payment.

    Car_man
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  • vish_dcvish_dc Member Posts: 16
    Carm_man,

    I got the lease numbers from the dealer for the 2012 Accord LX-P. The monthly payment seems to be a few dollars off but here are the numbers:

    MSRP $23,950.00
    Price $21,267.00
    Tags $ 68.50
    Tax $ 705.25
    Proc Fee $ 385.00
    Bank Fee $ 595.00 (standard for all Honda leases)
    Residual 60%
    Money factor .00050

    Payment $259.00
    Term 36 months (35 remaining)
    Mileage 12,000 per year

    A couple of questions:

    - On a lease, do you still have to pay the destination fee of $770? Trying to figure out whether they included destination in the "Price".
    - Is the Bank Fee in fact standard for all Honda leases?
    - Any other fees I should keep an eye out for?
    - Can you lower the lease payment if you pay a security deposit? I leased a BMW a few years ago and was able to lower the monthly by paying 1 or 2 months security deposit.
    - Does Honda charge a disposition fee if you don't purchase the car?
    - Your thoughts on this deal.

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey vish_dc. Yes, consumers who lease do indeed still have to pay the destination charge.

    Honda Finance charges a $595 acquisition fee on every vehicle that it leases.

    I don't believe that Honda Finance allows lessees to buy down their vehicle's money factor by making additional security deposits.

    I don't believe that Honda Finance charges a disposition fee on leases.

    Car_man
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  • cobm428cobm428 Member Posts: 6
    Hi Car_man
    can you please post the money factor etc for the month of October
    for a 2012 honda accord SE
    12000 miles per year
    I was quote 252 with taxes and 512 down payment
    michigan taxes are 6%

    I planning to lease next week
  • doctom2doctom2 Member Posts: 4
    Can anyone here provide me with the MF and residuals for a 2011 accord 5 mt, for a 3 yr 12k lease, Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to cobm428. Honda Finance's October buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan SE with 12,000 miles per year are .00050 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal on this car, make sure to take advantage of the $500 dealer cash 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, doctom2. Honda Finance's October buy rate lease money factor and residual value for a 36-month lease of a 2011 Accord Sedan EX 4-cylinder with 12,000 miles per year are .00050 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal on this car, make sure to take advantage of the $1,000 dealer cash that is currently available on it.

    Car_man
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  • cobm428cobm428 Member Posts: 6
    Thanks Car_man

    Here is the deal they offers me

    MSRP $24700
    Sale price $21725
    Side moldings $250
    Title and Plate transfer $125
    bank lease fee $595
    Residual value 60% 14820
    Down payment $305
    MF 0.00050
    Sale tax 6%

    Monthly Payments 230 + tax 13.82

    Total payment$244.12

    What do you think is this a good deal?
  • charles_phillycharles_philly Member Posts: 1
    Car-man,

    Thank you for your great information, I honestly have no clue what I would have done without it.

    What is the money factor and residual for the month of October for a 2012 Accord E-XL. I believe I have an excellent credit rating. What would my target monthly lease be?

    I am returning my 2009 Honda Accord EX-L, also on a lease, and aiming for a 2012 Accord E-XL.

    Thanks again!
  • smarsmar Member Posts: 2
    Is $0 down, $299 per month lease a good deal for 2012 Honda Accord EX-L (12K , 36K, 3 year lease)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cobm428. The dealer invoice price of this car is $22,469. If you subtract the $500 dealer cash that is available on this car from that it drops to $21,969. The selling price that you were quoted is even lower than that, so you're getting a very good deal.

    The money factor that you were quoted looks good, too.

    If you like this car, I personally don't see any reason not to go for this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome charles.

    Honda Finance's October buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L 4-cylinder with 15,000 miles per year are .00050 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Assuming an MSRP of $28,325 and a selling price of $25,745 ($500 over invoice once the available $500 dealer cash is taken into account), I estimate that this car would have a 36-month, 15,000 mile per year, zero down, pre-tax monthly payment of around $296.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi smar. That would be a decent pre-tax payment for a lease of this car with 15,000 miles per year. Since you're only going with 12,000, I'd shoot for a pre-tax payment of more like $280. Of course, if sales tax or any other fees are included in the payment that you mentioned then it may be a better deal than I originally thought.

    Car_man
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  • smarsmar Member Posts: 2
    Hi Car_man. Thanks for your response. $299 per mo. includes tax
  • docholladaydocholladay Member Posts: 1
    Car-man,

    Can you please tell me the current MF and residual for a 2012 Accord Sedan EX-L V6 with 15k miles/yr for 36 months?

    I saw that you recently posted the October 2011 MF and residual (0.00050 & 56%) for an EX-L I4 with the same terms as above, but my logic tells me that a V6 would depreciate differently than an I4. I'm new to leasing, though, so what do I know!

    Thanks so much!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem smar.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right, docholladay, the residual value for the V6 is slightly different than it is for the 4-cylinder. Honda Finance's October base lease rate and residual value for a 36-month lease of a 2012 Accord Sedan EX-L V6 with 15,000 miles per year are .00050 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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

    Car_man
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  • ddewolfddewolf Member Posts: 1
    Hey car man. Quick question. I want to lease a 2012 accord exl-v6 with navigation. If I have a excellent credit score what should be the vicinity of my monthly payment with 0 down and 12k a year. Any help is appreciated.
  • bosoxrlbosoxrl Member Posts: 1
    I think I got a good deal. Pre tax 0 Down Lease payment of $189 per month 12K mi year. Accord LX Auto.
  • dmbmay98dmbmay98 Member Posts: 19
    Car Man can you please provide the November 2012 Accord SE numbers for a 12k/yr, 36 month lease.
  • wooohaaawooohaaa Member Posts: 33
    This sounds like a very good price. Can you provide more info on your deal. Like what was the MSRP and selling price also Money factor and residual?Which dealership gave you this deal?
  • stone23stone23 Member Posts: 10
    edited November 2011
    Hey everyone,

    I wanted to get some feedback from the group. I got a quote yesterday on a 2012 Accord EX-LV6 fully loaded without Nav from a NJ dealer. Getting 15,000 miles on a 3 year lease. MSRP $30,400 selling the car for $27,925. Residual is $16,416. He said the money factor was .00050. Was quoted $385/mo included tax, title, etc...I just have to come up with 1st months payment. Is this a good deal?
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go dmbmay98. Honda Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan SE with 12,000 miles per year are .00050 and 59%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stone23. The dealer invoice price for the car that you are interested in is $27,620. Honda has $500 dealer cash on this car, so that would drop the invoice price to $27,120. That puts you at around $800 over invoice, which isn't bad. If you are in an area that has a decent level of competition, I wouldn't be surprised if you were able to beat this deal by a couple hundred dollars but this isn't a bad deal.

    Car_man
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  • carlover52carlover52 Member Posts: 4
    edited November 2011
    Hello,
    Can you tell me the November 2011, MF and RV for
    1) 2011 Accord Coupe EX-L with Nav
    2) 2011 Accord Coupe V6 EX-L with Nav
    Thanks a lot
  • carlover52carlover52 Member Posts: 4
    Hello carman,
    Can you tell me the November 2011, MF and RV for
    1) 2011 Accord Coupe EX-L with Nav
    2) 2011 Accord Coupe V6 EX-L with Nav
    Thanks a lot
  • yayar2000yayar2000 Member Posts: 5
    Car_Man,

    Is credit score very more important in leasing? My dealer gave me a good purchasing price for 2012 SE. But my scored dropped almost 50 points after checked by a few dealers. Now they gave me interest rate of 5-8%. I am thinking to do leasing instead. Would that solve my low score problem?

    Yayar
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, carlover52. Honda Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2011 Accord Coupe 4-cylinder EX-L with Navigation and 15,000 miles per year are .00185 and 46%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of the V6 version of this car are .00185 and 47%.

    When negotiating your deal, make sure to take advantage of the $1,000 dealer cash incentive that is available on 4-cylinder and $1,500 on V6 variants of this car.

    To be honest with you, if you really want to lease you may be better off going with a 2012 Accord.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly can carlover52. Honda Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2011 Accord Coupe EX-L 4-cylinder with Navigation and 15,000 miles per year are .00185 and 46%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of an '11 Accord Coupe EX-L V6 with Nav are .00185 and 45%.

    There's $1,000 dealer cash on the 4-cylinder and $1,500 on the V6 model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Yayar. Your credit score will definitely have an impact upon the money factor that you are charged when leasing.

    Car_man
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  • gigligigli Member Posts: 1
    Hi Car_man

    I am in the same situation in NYC. I am turning in my 2009 Accord lease and looking to pick up a 2012 EX-L 4 cylinder with 15k miles.

    Has the MF and residual changed for November? Is the ideal, pre-tax payment still around $296?

    Also, I am bringing my 2009 Accord in at about 9k under mileage. Does this benefit me in any way?

    Thanks in advance!
  • tex18tex18 Member Posts: 82
    9k under mileage only helps you if you sell the vehicle to the dealership, you should get a nice quote for it.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gigli. I believe that the Accord's lease program is a little different in November. Honda Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L 4-cylinder with 15,000 miles per year are .00050 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    It wouldn't hurt to see if the dealer would be willing to give you for your off-lease Accord if it is in good condition and under mileage. I personally know someone who was returning a leased Accord and not even getting a new Honda who was able to get the dealer to give them some money for returning their vehicle at that dealership.

    Car_man
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  • davedc1davedc1 Member Posts: 2
    i just leased an accord lx sedan from ourisman honda in bethesda. i put 2,050 down and pay 294 per month for the next 35 months (lease is 36months, 12k miles/yr). residual is $13.5k

    Those numbers includes all taxes, tags, title, lease processing. it also includes 700 of dealer add on such as door guard, splash guard and 200 for the warranty program (realign tires, roadside assistance)
  • thebigtuna79thebigtuna79 Member Posts: 18
    Not to bust your bubble, but looks like you got taken on this deal.

    I've been offered $220 a month (including tax) with only 1st month and DMV out of pocket (about $400-$450 total out of pocket). This was on a Base 2012 Accord LX Auto for 36 months, 12K per year. I turned it down and am still looking. I'm in NY with a 8.37% tax rate.

    Looking to be around $200 a month (tax incl) with only 1st payment down (only $200 total out of pocket). Waiting till next month when the end of the year comes and dealers are pushing out cars. Some of the deals I see on here are outrageous....too much !!
  • theeegodtheeegod Member Posts: 53
    Mind sharing the dealer in nj? Thanks
  • davedc1davedc1 Member Posts: 2
    is there anything i can do at this point or is too late?
  • eastbay80eastbay80 Member Posts: 1
    Great info on this forum. I just got a quote yesterday on a 2012 Accord EX-LV6 fully loaded with Nav. Getting 12,000 miles on a 3 year lease. Was quoted $358/mo no money down. I'm bringing in my 2009 Honda Accord EX without Nav w 30K miles. Is this a good deal?
    Thanks
  • sergeymsergeym Member Posts: 283
    I assume that you just returning your 2009, not trading it. If so I would say the price is great if it is actually no money down, just 36 payments of $358 each.
  • wooohaaawooohaaa Member Posts: 33
    How does this lease offer sound?

    2012 Accord LX Sedan Auto
    3Yr/36K
    MSRP 22,950
    Residual 13,540
    Money Factor .0005
    Acq fee 595
    Selling price ??
    Monthly payment including 7.75% tax = $205
    Total at signing = $495 (First Month $205 + Fees $290)
    Dealer said they are applying $750 Honda to Dealer cash coupons.

    What is the Selling price?
  • thebigtuna79thebigtuna79 Member Posts: 18
    That looks like a good deal. Mind sharing the dealership that offered that to you? Are you in the NY tri-state area?
  • wooohaaawooohaaa Member Posts: 33
    I am in northern Ohio. Checked but they don't do out of state leases. I have a columbus and southern Michigan dealer who matched the same price if that helps anyone. Just pm me for the info.
  • michael164michael164 Member Posts: 1
    edited December 2011
    Hi Car man;

    We're interested in Honda Accords $260. per month (or Less) special lease offers.
    We're Pre-Qualified by Honda Financial Services for a Lease, but it doesn't give the Rate or any other info.

    Could you please advise what to look out for when shopping with our local Nashville area Honda Dealers so we won't get taken advantage of??

    We want a 2012 Accord Sedan LX or LX P or Se;

    What should the Numbers look like?

    Thanks in Advance!
    Michael and Seana
  • happy9zhappy9z Member Posts: 4
    I live in Orange County, California. A dealer emailed me the sale tax for accord EX 2012 about 10.5% - 11%. How come the california tax is so different. I think CA tax is 7.75% only. Does the 7.75% not apply for the new car purchase?
  • shinngshinng Member Posts: 51
    edited December 2011
    Can anyone please provide the MF and residual for a 2012 accord exl v6 coupe (without nav) for 36 months/ 12k a year?

    Also, are there any incentives for new lease owners?

    Thanks.
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