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2013 and earlier-Honda Accord Lease Questions

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Comments

  • ren0_ren0_ Member Posts: 2
    36 month / 36,000 miles

    bank fee: $595.00
    dmv: $227.50
    documentation fee: $299.00

    due at signing

    $230/Month (including NJ sales tax)
  • jerseydriver1jerseydriver1 Member Posts: 1
    edited February 2012
    I'm looking for advice on a 24-mo lease on an Accord EX sedan. I'm being offered (in Northern NJ): $280/mo, incl all fees and taxes, $1500 down. Is this a good deal? From reading this board I've gotten a pretty good idea of what's reasonable for a 36-month lease, but am having difficulty translating this into a 24-month deal. And I have to figure it out quick because the incentive ends tomorrow. Thanks
  • cali92cali92 Member Posts: 12
    That's a great price. Is that your total out of pocket costs? Did you pay first months payment also?
  • masterfaldomasterfaldo Member Posts: 2
    Honda posted an updated deal on the Accord SE today on their website - $1999 down $209 per month. Talked to local dealer and he could go a little further and get me $194 per month with the $1999 down. I think this is a great deal as it's very close in cost to the LX.

    My wants a hybrid (Prius or Civic Hybrid) - but it's hard to pass on this deal.

    I'll be test driving this weekend!
  • bostonbenbostonben Member Posts: 71
    Does not seem like a great deal.

    Here are Weymouth Honda's numbers for reference on Accord SE with ZERO down:

    MSRP $24,700
    Sale price 20,734.71
    Residual $14,506.50 (57% of MSRP1)
    Financing 1.56% APR (0.00065 money factor)

    $213/month + taxes
    Up front fees would only be dealer doc + Title/Reg.

    You can check their lease calculator out for any model as a reference/tool in shopping no matter where you are located. You will have to "sign in to view pricing" but you do not actually have to enter any personal details.

    http://weymouthhonda.com/lease/
  • krs22krs22 Member Posts: 3
    This is my first lease.

    I'm in discussion with a Honda dealer (Billion Honda) in Iowa City, Iowa regarding a lease -- Honda Accord LX 2012. Here are the terms they gave me over the phone (no trade-in): $2500 down (includes acquistion, destination fees, 5% tax, license & registration, documentation, and first payment). Monthly payment would be $209. Also, this would be for 36 months/12,000 miles.

    They tell me that the MSRP is $22,950 + dealer-added splash guards (they add them to every car) for a total of $23,133.

    Do you know what the residual value and base interest rate/money factor should be for this car?

    I'm not sure if this is a good deal or not.

    Thanks for any help you can provide.
  • krs22krs22 Member Posts: 3
    I just wanted to add that the dealer told me the money factor is .00065 and the residual value is $13,081.50 (about 57%).

    Does this sound okay?

    Thanks.
  • bostonbenbostonben Member Posts: 71
    Money factor and residual look correct.

    The selling price seems way too high. You should be able to get this car for something like your $209 payment per month with ZERO down except for first payments and fees (<$1000).

    You do not mention the selling price of the car. Negotiate on the selling price of the car FIRST. Then, ask for the leasing details.

    In the Northeast, this car is going for about $19.2K before any tax/title/fees.
  • krs22krs22 Member Posts: 3
    Thanks for your reply. I'm going to visit the dealer this afternoon, and I'll question the selling price. I thought it looked high too, but didn't have anything to compare it to.
  • jcmiami1jcmiami1 Member Posts: 2
    Hello all, i am being offeed a 36 month lease on a 12 accord se with no money down fo $275 a month with taxes in. All i need to put down is reg and 1 st month. Does this seem fair to you all? I think i can do 250 a month with taxes in. Here in Miami FL taxes are 7%.
  • bostonbenbostonben Member Posts: 71
    If you can get it for $250 with taxes, seems OK to me. Negotiate on the selling price first. Looks like the SE can be had for $21K even.
  • trusaleen1trusaleen1 Member Posts: 98
    Hello, I currently have 2011 Civic LX with 20,5000 miles. I pay $174 per month (15,000 3 year lease) I owe 14,900 on the car.

    Dealer here has the exact Accord I would want 2012 EX Sedan black with manual tranny. MSRP is 25075. I dont want to put much down except fees and FMP. Im looking at 24 month or 36 month with 15k per year. Best case scenario and trading in my civic, what should I look to pay. BTW i have 20 months left on my lease.
  • sheadano29sheadano29 Member Posts: 2
    Hello,

    I am seriously considering a Lease on a 2012 Honda Accord and was wondering if this sounds like a good deal. It would be a 2012 Accord sedan with leather seats (I forget the model type) $200 per month for 35 months, with $2650 down and 15,000 miles a year. The purchase value at the end of the lease is $13,997. Does this seem like a good deal? I am seriously considering the offer but would live a second (or third :) opinion. Thanks!!
  • sheadano29sheadano29 Member Posts: 2
    Just double-checked and this is for the SE model at Herb Chambers in Seekonk, MA
  • bostonbenbostonben Member Posts: 71
    Hard to judge the deal without knowing the selling price, but overall the down payment seems very high. Check out Weymouth Honda's lease calculator. And since you're local, you might want to go with them if cheaper.
  • isha1isha1 Member Posts: 17
    Please advise on 2012 Accord SE. MSRP $24700 (incl destination/handling). What should I expect for the Cap Cost, Fees, Residual, and Money Factor? We are looking at 36mo, 12k mileage. If you could break down the fees for me, I would be grateful. Dealer was saying something crazy, like tax $717, tag $118, documentation fee $499. We live in Charlotte, NC.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi isha1. Honda Finance's March 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 .00065 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    If I was in the market for this car right now, I personally would shoot for a selling price of slightly close to invoice (which can be found here) minus the $1,000 dealer cash that is currently available on this model.

    Honda Finance charges a $595 acquisition fee on every vehicle that it leases. The $499 doc fee that you mentioned is between you and the dealer. It really isn't anything more than a way for dealers to pad deals. Any other fees, like tax, title, etc... are likely set by the state.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • isha1isha1 Member Posts: 17
    Thanks so much for the response carman. They have also put in a destination and handling fee of $770 to get the MSRP from $23930 to $24700. Is the acquisition fee in addition to this destination/handling fee?
    So, would I have to add $770 to the invoice price I found ($21699) when I negotiate with them? Or does the invoice price ($21699) already include a destination/handling fee in it.
    Thanks
  • jcassarajcassara Member Posts: 1
    Souknd like a good deal can let me know the name of the dealership in NJ you got this deal from
  • sdohiosdohio Member Posts: 1
    I got a lease quote from a dealer in Ohio for 2012 Accord SE. I am new to the country with no history so he said this is the best I can get

    $1000 down, $14500 redidual, $309 per month for 36 months, 12K miles per year.

    Is it reasonable? Please suggest, as this is the first time I am leasing a vehicle.
  • edisonnjhondaedisonnjhonda Member Posts: 1
    I would like to get the dealer details as well.

    Thanks in Advance.
  • daver23daver23 Member Posts: 6
    So, I just left the dealership with my new 2012 Honda Accord SE. Here's my deal. Please tell me what you think.

    $210 a month for 36 months. This included all taxes, dealer fees, etc. I pay $210 a month 36 times and not one other penny went anywhere else. Nothing out of pocket, etc. Thoughts?
  • bostonbenbostonben Member Posts: 71
    Sounds like a good deal to me assuming that's all in like you said.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome isha1. Yes the destination charge is legitimate and on top of the acquisition fee. Neither the base invoice nor the base MSRP include the destination charge.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • nyc_engnyc_eng Member Posts: 7
    Hi all, I am trying to figure out if the latest offer I got was good.

    Does anyone have the residual and money factor for a 4cylinder automatic EX-L & EX coupe? 12k/yr & 3 years. I found the lease rates for an Accord Coupe EX-L on ridewithg.com but they were for a V6. The current offer is for $301/mo with $301 upfront.

    I am also interested in the Mini Cooper residuals & MF better for a 12k/yr 3 year lease.

    Thanks!
  • sergeymsergeym Member Posts: 283
    This is fantastic! Which dealer gave you this deal?
  • ridge3ridge3 Member Posts: 4
    Hello Car_man

    I have seen a number of posts for the advertised Accord SE lease MF & residual for March but considering V6 EX-L Sedan on a 36 month/ 15,000 miles annually lease. Could you provide the current rates?

    Thanks!
  • sleepysoosleepysoo Member Posts: 54
    Hi Car Man!!

    I was wondering if you can provide the buy rate lease money factor as well as residuals for an Accord LX and EX, 36 months, 12k/year.

    Thanks so much!
  • jgreenbergjgreenberg Member Posts: 35
    Car_Man,

    As soon as available can you tell me what the April money factor and residual will be for the 2012 Honda Accord Coupe EX-L for a lease at 36 months/12,000 miles as well as 36 months/15,000 miiles. And similar info for a 39 month lease for both 12K and 15K

    Thanks
  • sleepysoosleepysoo Member Posts: 54
    Hi guys...just wanted to let you guys know what I just paid for my new leases today. I'm in SoCal. We leased two accords today...one LX-P and one SE.

    LX-P:

    $20500 (agreed upon value of vehicle)
    $21095 (gross cap cost...this is the above price + $595)
    Residual = 57%, MF = .00065
    $247.12/month for 36 months (this includes tax).

    SE (w/ all weather trunk mat, wheel locks, mud guards)

    $22100 ( agreed upon value of vehicle)
    $22695 (gross cap cost)
    Residual and MF is same as above
    $271.14/month for 36 months.

    Both cars are for 12k miles and we paid for the first month payments only.

    We probably could have done a little better, but we were also trading in our leases which still had 3 months of payments on them. We live in OC and our taxes are 7.75%.

    Overall, I think we did ok....could we have done better? Maybe....but in the end, the people were so nice (we always get our cars from them) and we didnt have to sit there and haggle with them for hours.

    Hope this helps you guys...let me know what you guys think of these deals!
  • energymonkeyenergymonkey Member Posts: 11
    Daver23,

    That is a great deal. Can you provide the full details? I would like to use them for my negotiation, as I'm sure would others.
  • daver23daver23 Member Posts: 6
    Hi. I am in Huntersville, NC, just north of Charlotte, and I went to priority Honda.
  • daver23daver23 Member Posts: 6
    Hi. I took a different approach to the deal. I did not concern myself with anything other than monthly payments for the car I wanted. We went around and around about the LE or the SE. At first they wanted to give me an LE for $269 a month with fees and taxes included. But after explaining we werent getting a car that day and didn't really like the LE anyway, the sales manager eventually offered an SE for $229 a month, taxes fees etc included. I took the car out and came back and said I would not pay more than $200. He said the absolute best he could do was $220, I said call it $210 and I get it today. He said he would be taking a loss, but did the deal. I didn't concern myself with the residual value, money factor, etc, because I won't be purchasing it at the end of the lease. I have the dark metallic silver 2012 se for $209.99 a month everything included, no disposition fees. 12k miles a year.
  • airadusairadus Member Posts: 1
    Hi carman/all,

    I'm just wondering if the $199/month Accord LX deal with $1800 down is a good deal. Or if it's even worth trying to negotiate for something lower.
  • energymonkeyenergymonkey Member Posts: 11
    Thank you for the prompt response. I have several dealers emailing me offers, but the best I am getting is $258/month. Apparently time for me, sadly, to go sit in a showroom. Your story is much appreciated.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go ridge3. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L V6 without navigation with 15,000 miles per year are .00065 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sleepysoo. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan LX 4-cylinder with 12,000 miles per year are .00065 and 57%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of an EX 4-cylinder are .00065 and 57%.

    There's $1,000 dealer cash on these cars.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jgreenberg. Unless Honda makes an unscheduled revision to its program, its buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Coupe EX-L 4-cylinder with 15,000 miles per year are .00065 and 51%, respectively for consumers who qualify for its top credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Honda is only providing support for leases up to 36-months. If you go with an unsupported 39-month lease the money factor nearly triples. Needless to say you don't want to do that.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi airadus. What is this car's selling price? Let me know and I'll tell you what I think.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • accordman3accordman3 Member Posts: 4
    I'm leasing Accord SE and trying to find out if this is a good deal.

    Selling Price: $21300 including destination fee.
    Other fees like dealer and title and reg. will be paid upfront.

    Can I do better or this okay? by the way res. value is 57% and MF is .00065
  • accordman3accordman3 Member Posts: 4
    I'm leasing Accord SE and trying to find out if this is a good deal.

    Selling Price: $21300 including destination fee.
    Other fees like dealer and title and reg. will be paid upfront.

    Can I do better or this okay? by the way res. value is 57% and MF is .00065
  • daver23daver23 Member Posts: 6
    Are you planning on buying the vehicle at the end of the lease? What are your total payments and lease terms? DO you have a disposition fee at the end of the lease?
  • accordman3accordman3 Member Posts: 4
    I'll probably buy it at the end. The payments are around $245 including taxes for 36 mo.

    No disposition fees.

    Thanks
  • crazymofo107crazymofo107 Member Posts: 1
    Hello,

    I just stumbled across this site whilst trying to make a decision on what to do with my 2007 Honda Accord LX lease. I started off with a 36 month term and then I actually extended it for another 2 years. The lease will end at the end of May. There are currently no good new lease offers for this month with Honda that interest me. My payoff amount on my statement is: $8,187.91. Considering the car is in excellent operating condition with the exception of a few scratches and dings and only has 52,000 miles on it. Everything in the car is standard. I feel like buying the car out and refinance elsewhere might not be a bad idea. Reading some of the posts here though I feel as though I'll leave it to the experts! Thank you in advance.
  • travdog34travdog34 Member Posts: 17
    Hi Car_Man,

    Just finishing up my 2009 Accord lease this month.

    I am looking to lease a 2012 Accord Sedan 5 Speed Automatic LX. With the current promotion, what kind of monthly payment should I shoot for if I want to put $0 down? I would qualify in the top tier credit category.

    I'd like to be somewhere around $250/month. Do you think that's possible?

    Thanks in advance!
  • daver23daver23 Member Posts: 6
    I just leased a 2012 Honda Accord SE for $209 a month. $0 down. That includes all taxes, fees, etc. No disposition fees, not another dime anywhere. Hope this helps.
  • tampa1312tampa1312 Member Posts: 6
    daver32, Do you have your lease papers? can you put down your numbers for our help? Thank you.
  • travdog34travdog34 Member Posts: 17
    If you could list specifics that would be great. Thanks!!
  • daver23daver23 Member Posts: 6
    I was very personable, and I felt I gained their favor. I told him there was no way I was paying more than $210 a month on a lease. i told them the car I wanted. Since I have no plan to buy the car at the end of the lease,I did not concern myself with the Money Factor, or Net cap cost, etc. I just wanted a very nice car for a great price, and they were willing to deal. $209.99 a month for 36 months. I put not a dime down, and no disposition fee at the end of the lease.Thats all.
  • skcansskcans Member Posts: 1
    When you say, "if I have equity," at the end of the LPP term, what do you mean? I am unclear just how I build equity on a depreciating "asset." Any guidance?
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