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2013 and earlier-Honda Accord Lease Questions

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  • pitbull1980pitbull1980 Member Posts: 8
    Looking for a 2012 Honda Accord EXL lease. Anyone get quoted a good lease deal?
  • huggie91huggie91 Member Posts: 1
    Hi Carman, I was offered a lease on a 2012 Accord LX MSRP $22950.00. Sale Price of $20878.00
    3 year/36K. Residual $13500. Cash Due $2500.00, payment $225.00.

    Is this a fair deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Michael and Seana. It sounds as though you may be new to leasing. If so, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    Savvy consumers who are in an area that has a decent level of competition should be able to negotiate lower selling prices than the ones that were used to calculate manufacturers' advertised lease payments, and in turn better monthly payments.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, shinng. Honda Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord EX-L V6 Coupe with 12,000 miles per year are .00050 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing a $500 dealer cash incentive on this car.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello huggie91. The dealer invoice price of the care that you are interested in, a 2012 Accord Sedan LX 4-cylinder is $20,888. Honda is providing a $500 dealer cash incentive on this car, lowering the invoice price to $20,388. That puts the price that you were quoted at around $500 over invoice...which is a pretty good deal.

    Just make sure that the dealer uses Honda Finance's buy rate of .00050 (for top tier customers) to calculate your payment and you're in business.

    Car_man
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  • mjopprumjoppru Member Posts: 18
    Norm Reeves in Cerritos CA car ad today:

    $0 drive off, $189/mo + tax on 12 Accord Se or EX 4dr auto

    No first payment, no sec deposit, no drive off

    plus taxes and reg fees and $50 doc fee

    that's cheap!

    Mark
    :P
  • avatar13xavatar13x Member Posts: 2
    Hi, it seems that the December buy rate for MF is .0005 for "super preferred" credit tier, however I am unable to figure out what the residual value should be for a 2012 Accord SE 36 MO lease? Also on the car buying forums folks are reporting that they are able to get $2100 off invoice in some markets for this same Accord SE, is it possible to get this kind of discount for a lease? I realize that the purchase price is negotiable for leases but I wonder if there are extra incentives for dealers to sell vs lease? That would make those kinds of discounts unttainable for leases then right?
  • ubobbyubobby Member Posts: 1
    No nothing about leasing. The deal is 139 a month for 36 with 2012 dep. plus bank fees and tax? adding another 1900 out of pocket. It's a 2012 accord se. And what does residual value mean. Also the salesman says I can always cancel in a year if I want. Any help would be great.
  • jashawjashaw Member Posts: 1
    i am looking to lease two cars at once. can you tell me if there is anything additional i can use to my advantage? another question i have is that i was told that when the lease term comes due, say 36 months, i can continue to pay at the agreed rate until the car is completely paid off. any thoughts on that?
  • smart231smart231 Member Posts: 2
    Car Man,

    I leased a 2012 Honda Accord LX.

    I traded in a vehicle with value around $3000 - $3200.

    I pay nothing on signing except doc/taxes/tag/fees/and more fees (Around $600). My monthly payment is $165.00

    What do you think?
  • sergeymsergeym Member Posts: 283
    edited December 2011
    I usually add all dollar amounts together and divide them by number of months the lease is for. Often I even ask the sales guy to roll ALL fees into the monthly payment. In your case it is $248 per month to lease Accord SE for 36 months. It seems to be a decent deal to me. Last year a friend of mine leased EX-L for $290 per month. Your deal seems to be a little bit better. Here is the catch though. There is absolutely NO way to get out of a lease except to make ALL monthly payments. Sales person just lied to you. Should not be a surprise, that is what they do for living.

    Residual value is the value of the car (wholesale) after you are done with it. You also will be able to buy it for that amount if you decide to keep it.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jashaw. What you were told about being able to continue to make the same payment on your vehicle at lease-end until it is paid off is incorrect. If you decide to purchase your vehicle at the end of your lease, you will either have to pay cash for it or finance it through a bank. Honda may offer you financing on your car, but I doubt that your payment will be exactly the same.

    Car_man
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  • albautoleaseralbautoleaser Member Posts: 29
    I was wondering what Honda's money factor and residual value are for January 2012 for an Accord EX-L w Navi for 3 years and 45k miles. And are there any incentives or rebates in effect?

    Thanks in advance.
  • albautoleaseralbautoleaser Member Posts: 29
    I should add that I am looking at the V6. Thanks.
  • honda_ighonda_ig Member Posts: 13
    Hi, can someone please tell me if this deal is any good?
    2012 Honda accord LX for $129 per month for 36 months with 2012 down before tax. I would like to buy the car at the end of lease and the purchase price is about $13.5k. I will be allowed 12K miles per year for 3 years.

    My other option is to go for a 2012 Civic LX for $99 per month for 36 months including tax with 2012 down. The end lease purchase price for the civic is $12k.

    Any help will be apprecited.
  • antons911antons911 Member Posts: 66
    Hey, Im in OC, looking for similar deal.
    So you had no down payment? whats your rate with tax?
    Did you take the deal?
  • ken117ken117 Member Posts: 249
    The salesman is incorrect. You cannot cancel a lease after one year, unless it was a one year lease or it has some unusual clause. A lease is a contract and you are obligated for the entire term of the lease. You can always turn the car in early but you would still have to pay for the whole lease.

    The residual value is the value the car is worth when the lease term is over. For example, a vehicle might have a residual value of 60%. If the MSRP for the vehicle is $20,000 the residual value is $12,000 ($20,000 X 60%).

    The residual value is used to compute part the monthly lease cost. A part of the monthly lease cost is the price paid for the vehicle (reduced by any money put down - I would not put any money down on a lease) reduced by the residual value. That amount is divided by the number of months in the lease.

    For example, if the price paid and financed for the $20,000 vehicle was $19,600 that part of the monthly lease costs would be $100 ($19600 - $16,000/36 months). Obviously, the higher the residual value the lower the monthly lease cost.

    A second part of the monthly lease payment is the money factor, which is a bit more complicated. The way to compute this can be found on the internet and Edmunds has such a tool on this website, I believe. In this case, the lower the money factor (often referred to as MF) the better for the buyer.

    Remember leasing a vehicle is the same as buying a vehicle. The price paid for the vehicle can be negotiated the same as if you were buying the vehicle. People do not have to pay MSRP for a lease.

    I hope this helps and is not too confusing.

    One other thing to remember is Acura has GAP insurance built into its lease (I know as I have a lease with Acura). GAP insurance will cover the value of the vehicle should it be totalled. GAP covers the difference between what the insurance company pays and the value of the vehicle to the lease company. This means if the vehicle was totalled, there is no cost to you.

    This is one reason people should not put money down on a lease. You would do much better to leave the downpayment in the bank where you will have access to it. In the worst case, you can always take money out of the bank (where the deposit money rests) to pay any shortfalls you may have making a monthly payment.
  • otoluvaotoluva Member Posts: 196
    edited January 2012
    Just picked up my blk/tan, 3yr/36k, $231 a month incl 6.25% MA sales taxe, 0 drive off, 35 remaining payments.
  • kyfdxkyfdx Moderator Posts: 235,188
    That is a great deal....

    Edmunds Price Checker
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    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for albautoleaser. Honda Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L 4-cylinder with Navigation and 15,000 miles per year are .00033 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing $500 dealer cash on the 2012 Accord, which is compatible with this lease program.

    Car_man
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  • teri_c_421teri_c_421 Member Posts: 1
    I am interested in leasing a 2012 Accord Coupe LX-S Manual transmission (MSRP $23,750). The dealership has offered me a deal of $750 down and $260/mo, including taxes, for 36 months/12K mi per year. Is this a good deal? We got them down a lot from their original outrageous offer (2K down and $409/mo. HA!) Any feedback would be appreciated. Thank you!
  • albautoleaseralbautoleaser Member Posts: 29
    Thanks, Car Man, but I should have specified...I am thinking about the V6. Same answer?
  • thebigtuna79thebigtuna79 Member Posts: 18
    Just leased my wife a 2012 Accord Sedan LX (Base) 36 months / 12K per year.

    $1750 total out of pocket which included the following

    $595 Bank Fee
    $490 New York State Taxes (8.375%) Paid all taxes up front
    $250 DMV (NY State Registration and Plates)
    $250 Doc Fee (BS Fee added on by dealer)
    $159 1st month Payment

    35 remaining payments of $159 (this is the payment that comes in the statement)

    Basically, if I were going to do a sign and drive, it would be $204 with zilch outta pocket, (DMV, BANK FEE, TAXES rolled in).

    Beware of adverstisements in Newspapers that claim $99 or $129 a month, they're all BS.
    This is the best deal in the NY/NJ/PA area. Trust me, I shopped around !
  • pipjattpipjatt Member Posts: 1
    hey mind telling us which Honda dealer in MA? thanks!
  • dsateltdsatelt Member Posts: 25
    Car_Man - looking to lease a 2012 Accord EX V6 (no leather, sedan) and wondered what Honda's lease terms are for 15k miles per year. Thank you.
  • otoluvaotoluva Member Posts: 196
    Herb Chambers Honda in Westborough, however, most Honda dealers will match this deal, good luck.
  • tonbobtonbob Member Posts: 5
    In Atlanta, could not get dealer to budge on '12 LX lease past $420 down and then 36/36 lease with 0 down and 35 payments at $250/month not including 7% tax.

    Last ditch effort at other dealers netted me a '12 SE (got leather, heated seats, etc. as bonus) with some little dealer add ons (mud flaps, trunk liner, nitrogen in tires) with cap cost at $22,681, $0 at signing and 35 remaining payments of $232.37 with tax number is $248.64. The dealer got to this by paying $343 for me, deducting any doc fees and using Honda Finance coupons totaling $750. .15/mile over 36k miles. No disposition/turn-in fees and GAP included. I simply could not get any other dealers close to this, the dealer who responded was woman who runs internet sales and stayed late with finance manager and prep guy until I could get to dealership at 8pm and was out before 9pm. I paid absolutely nothing and first payment not due till February 24. Could not be happier with the process and price.

    This forum saved me big, as I kept seeing better lease deals than the national promotion. Only got two responses from emails to 6 dealers once I told them what was being offered and that I was leasing a car same day. Many called to give me the "come on in and we'll earn your business." One gave me some figures over the phone and only one emailed all pertinent numbers right away. They win and so do I. :) Thanks to those who post numbers on deals.
  • tonbobtonbob Member Posts: 5
    whoa. that is cheap. can't get that done here in Atlanta. Is it 12k miles/year? I've seen some at 10k and also fine print on doc fee still due. something in the air with honda and continued downward price pressure on accords and civics.
  • tonbobtonbob Member Posts: 5
    Just leased one and best I got was $22,681 cap cost. They started at $23,421 and then reduced by $750 by using what they called Honda Finance coupons. Said coupons come in $25 increments to them and max they can use on one deal is $750. That should come in handy. I don't think all dealers have those coupons or may run out of their allotment.
  • thebigtuna79thebigtuna79 Member Posts: 18
    I think you're right, something is definitely brewing with Honda. I heard that the new Civic is not selling well and there are already talks of a refresh (the civic was just resdesigned). Also, keep in mind the new, redesigned 2013's are coming this fall so I think Honda is looking to clear out all of their 2012's before new inventory. There really is some great deals to be had on Accords and civic's right now. $200 a month for an Accord with nothing outta pocket is a crazy deal.

    Shop around guys, the deals are there to be had.
  • bhggnbthmbhggnbthm Member Posts: 9
    thebigtuna79 - you mind disclosing the dealership where you got that deal? I live in the mid-atlantic region and have been looking to purchase an accord with $0 down.

    Any feedback would be appreciated.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi teri_c_421. You never mentioned what this car's selling price is. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Having this number makes it much easier to tell how large a dealer discount you are being given and in turn whether there is any room left to negotiate. Let us know what this umber is and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome albautoleaser. The numbers for the V6 model are close, but not exactly the same. the money factor is still .00033, but the 36-month, 15k residual is 53%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dsatelt. Honda Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord EX V6 Sedan with 15,000 miles per year are .00033 and 55%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • bhggnbthmbhggnbthm Member Posts: 9
    When I'm calculating the monthly lease payments - is the residual % applied to the MSRP, Invoice amount, or the cap price?

    Thanks.
  • otoluvaotoluva Member Posts: 196
    The residual is based on MSRP.
  • leetchie69leetchie69 Member Posts: 10
    Hi CarMan,

    What are the MF and Resi for this model @ 12k miles? 10K?

    It is 1/31 so If the month turns, if you could provide Feb instead when they are available!

    Thanks!
  • thebigtuna79thebigtuna79 Member Posts: 18
    Hamilton Honda in Hamilton, NJ. They are the lowest in the tristate area
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi leetchie69. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Honda Accord Coupe EX 4-cylinder with 12,000 miles per year are .00033 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    I'm not sure if you can lease an Accord with only 10,000 miles per year, but if you can the residual value for that mileage allowance would be 1% higher.

    Car_man
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  • loud0g40ozloud0g40oz Member Posts: 79
    Car-Man,

    Narrowing down my deals and need to know money factor and residuals for a 3 year/12k mile/year lease on both the 2012 Accord SE and EX-L 4 cyl.

    Also need to know about any factory incentives available.

    Thanks
  • pa94306pa94306 Member Posts: 1
    Hi,

    I am looking to lease a 2012 Accord Sedan (either an LX, SE or an EX) in Northern California Bay area. Does anyone have any information regarding the best monthly lease payments (and possibly dealer recommendations) and the residual value.

    Ideally, it would be a 3-year, 12k or 15k lease

    Also, are there any factory rebates available?

    Thanks!
  • loud0g40ozloud0g40oz Member Posts: 79
    Narrowed my search down, and the best offer i've got is for a 2012 Accord SE with no added equipment, MSRP $24,700.

    Dealer is offering 3 yr/36k mile lease for $240/mo incl tax with all driveoffs and first payment rolled into the lease. A true sign and drive deal. Tax rate is 7.75%. Because the driveoffs and first payment are rolled in, i'm having a little trouble figuring the exact cap cost. I also don't know if the residual value dropped for Feb. This seems like a good deal, because I figure it's got at least 600 in additional driveoffs (300ish registration, 55 doc, 240 first payment) rolled in. The cap cost has to be under $21000 to get the numbers in this deal to work, even assuming the rates are unchanged from january at 58% residual and .00033 money factor. Everyone else turned this deal down...closest was 246/mo.

    Thoughts?
  • drsunildrsunil Member Posts: 1
    Out of pocket : 1900 ( Taxes, 1 st month payment )

    Duration : 36 months

    Monthly payment : 265

    Dealer : Russell and Smith Honda, Houston

    I didnt shop around ... but I'm sure you can get a better deal !!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi loud0g40oz. Honda Finance's February 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 .00033 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2012 Accord Sedan EX-L 4-cylinder are .00033 and 56%.

    Honda is currently providing $500 dealer cash plus some additional behind-the-scenes dealer incentives on the 2012 Accord.

    Car_man
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  • peggyhpeggyh Member Posts: 8
    I just leased an Accord EX.....I was very happy with Arthur at Huntington Honda in Huntington NY. He was terrific, the finance guy Mike left a lot to be desired trying to shove options down your throat. But overall good experience.
  • loud0g40ozloud0g40oz Member Posts: 79
    edited February 2012
    Just picked up my new 2012 Accord SE from Hardin Honda in Anaheim. Here's the deal for reference:

    36mo/36kmiles

    MSRP 24700.00
    sale price 22743.96
    Acq fee 595.00
    residual 59.76% 14761.00 (this was a mistake by the dealer. should have been 14326)
    tax rate 7.75%

    dealer paid first payment and all driveoffs (used $1000 in "flex cash" from Honda, and 651.74 from dealer)

    payment: $240.00/mo incl 7.75% tax

    The dealer also threw in a Honda trunk net ($70)

    Kind of a weird deal since I insisted the dealer roll all driveoffs and first payment, all for $240/mo tax incl. I may have been able to shave a couple dollars more off the deal, but it wasnt worth sitting there negotiating for hours. No one else would touch the deal...closest was 246.69/mo.

    I'm happy, got the car I wanted at the price i wanted with zero out of my pocket.

  • thaita78thaita78 Member Posts: 4
    edited February 2012
    This is a deal I would like to replicate. Can you email to thaita78@gmail.com your contact at Hardin Honda? I would greatly appreciate it.
  • cali92cali92 Member Posts: 12
    I thought I got a good deal, but after reading forums, I always have doubts!
    Heres what I got from NJ dealer 7% tax
    sticker price was 24k, I said price should be no more than 22K
    36 month 12 k mile
    Accord coupe LX auto
    1500 out of pocket, 249 payment
    any thoughts?
  • yoshapmanyoshapman Member Posts: 1
    edited February 2012
    I'm getting my Accord SE tonight, I live in NY and got it in NJ, $1110 down (includes bank fee, plates/dmv fees, and first month's lease payment) and $195/month for 36 months, 12k/yr.

    This includes all taxes.
  • cali92cali92 Member Posts: 12
    That sounds like an excellent deal!
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