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2013 and earlier-Honda Accord Lease Questions

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Comments

  • pegasus17pegasus17 Member Posts: 536
    REF: 4778
    OFD
    outstanding deal......enjoy
  • purduealum91purduealum91 Member Posts: 285
    Hi

    Please share more details. Miles per year and length of term?

    Money factor, residual, Honda cash?

    Thanks!

    Tom
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pegasus17. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L V6 with 12,000 miles per year are .00046 and 53%, 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 $1,250 cash incentive that is currently available on it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • fmllcfmllc Member Posts: 2
    edited July 2012
    Just picked up my 2012 SE 12k 35mo (first month picked up by Honda)...$0.00 paid out the door for $205.60/month tax included. They even threw in 3 years of oil changes, roadside and towing (and whatever else).

    Don't have exact figures with me but...about...

    Msrp 24+change
    Sale price 19+change
    Residual 56%
    Don't remember the mf but I qualified for their top tier rate....
  • tolgactolgac Member Posts: 6
    Trying to get a deal on 2012 Honda Accord SE Lease in MD - would like to pay $150 month and few dealerships offered $2,500 for my old trade-in with no out of pocket money( penny ) ...

    Car_man -> I know you are against the Cash up front ( talking about my $2,500 tradein ) but I really do not have time to deal with the sales of my car.

    Do you think $150 month on 36month/12K year lease + $2,500 reasonable ?

    I appreciate any advise...

    ALSO: Looking for a suggestion of a dealership @ Good PRicing in MD, VA, DC Area if there is any - thank you
  • pegasus17pegasus17 Member Posts: 536
    REF: 4783
    Look at post #4782 for a comparable deal. Yours is too high...
  • tolgactolgac Member Posts: 6
    Pegasus- thanks.. Post 4782 had a great deal but it is impossible to come close to it in my area MD DC VA. It is about $500 difference. i guess the best deals are OH deals but dealerships in my area selling about 300-400cars vs 30-40cars in some other states so it is makinnit very challenging to buy here.
  • pegasus17pegasus17 Member Posts: 536
    Supply vs demand. the supply of 2012 Accords is decreasing while the 2013 isn't out yet. Dealers are less likely to deal especially on the SE model. Look at the Altima - now that the 2013 is out, the 2012's are available for a minimum $6k off MSRP. Today was the last day of the month - not sure if they still have quota bonuses this late in the model cycle. Good luck.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey tolgac. You can still trade in your vehicle and not use the proceeds from it as a down payment for your lease. Just have the dealer cut you a check for your trade instead. I've done it before. In fact, in some states trading in a vehicle, even if you don't apply the proceeds towards your lease, actually results in a tax benefit.

    What is the selling price of the car that you're interested in? Let me know and I'll tell you what I think of this deal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • mikeymikeymikeymikey Member Posts: 4
    Purchased Accord SE Sedan with Tint, Security alarm and door edge with 3,000 down for trade-in. 188.88 for 35 months. About 400 for title/use tax in AZ and 400 for doc fee. 9.8% sales tax.
    Thanks for all the help and information that others have shared.
  • gpsacgpsac Member Posts: 98
    Just picked up new Accord EX I4 auto 4dr on a 36 mo 12k mile. Polished metal with gray interior. Central Florida.

    0 up front
    35 @ 227 + tax (242)

    Turned in my 2010 Accord with 2 payments remaining of 248 which the dealer would make and then turn it in to Honda. Apparently it is not worth the residual.
  • accordman3accordman3 Member Posts: 4
    edited August 2012
    I'm also in Central Florida and I've an accord LX 2010 lease (12 payments remaining $267 per mo.. Ouch! I know) wanna return it for EX-L 2012. Can you tell me what dealer was that?
  • gpsacgpsac Member Posts: 98
    Titusville
  • partcanspartcans Member Posts: 4
    Hi,
    I have e-mailed several dealers in the Philly area, and also found that Piazza seems to have the best internet prices--$20,053 for the SE. This price is higher than some quotes on this website, but I haven't gone into the dealer yet, and suspect that I can trim a little bit off of this number. Unfortunately, it seems more difficult to get a handle on lease costs. Excluding taxes and state/dealer fees, I've calculated that a 36 month, 15,000 mile/year lease should cost $205.85/month (using a $13,807 residual and .00046 money factor). However, the fees charged by dealers seem really inconsistent. For example, I received a lower quote from a dealer charging a higher price ($20,333 resulted in $452 down and $235/month with 9% tax included vs. $20,053 = $453 down and $236.31/month OTD). I have had no luck getting dealers to report their fees via internet. Does anyone have any idea what lease/registratiion fees should be expected in Pennsylvania? Thanks--this forum is the most informative website that I have come across!

    (Also posted on the Buying Forum Site)
  • pegasus17pegasus17 Member Posts: 536
    edited August 2012
    REF: 4792
    Previously reviewed great deals on the SE lease are 210/month pre-tax with zero down. PA doc fees are completely optional:
    http://blog.truecar.com/2011/07/26/which-additional-fees-should-i-pay-at-the-dea- - lership-what-is-the-doc-fee/comment-page-1/#comment-53152
    Your numbers are quite good considering the 9% tax. Only additional fess are temp license and first year reg fees (~100 here in OH, not sure about PA). Remember the supply is dwindling and so is there desire to deal. Pictures of the 2013 Accord were released a few days ago and it is very similar to this 2012 model. If i wasn't stuck in a lease til March 2013, I'd lease a 2012 Accord now. Good luck!
  • iceman1988iceman1988 Member Posts: 3
    Here is what I have been quoted on:

    2012 Accord Coupe EX I4
    -1,300 Total out of pocket includes first months payment
    -$268 month 35-months 12k miles
    -$284 month 35-months 15k miles

    2012 Accord Coupe EX-L I4
    -1,300 Total out of pocket includes first months payment
    -$305 month 35-months 12k miles
    -$322 month 35-months 15 miles

    money factor .00046
    Residual 52%

    Selling price: (before Tax)
    EX - $ 22,673
    EX-L - $ 24,262

    I beleive that these are both very good deals. (Both well below invoice) Just want to see what you guys think. I am thinking of going with 15k miles just to be safe, since the new 2013 is coming out soon it might be difficult to get out of the lease if I run out of miles with 12k. My main question: Is it worth it to get the EX-L at $38 more a month? or should I stick with the EX and cloth interior. Don't get me wrong I loved the power leather heated seats and leather wrapped steering wheel, but what else does the EX-L offer that would make the $37 more actually worth it. don't care about the xm radio and dual climate control, and outside temp display. What would you guys do? I am leaning towards the EX with 15k at $284 a month. I just don't see enough to warrant a $38 more for better seats. What do you think?
  • bradl1bradl1 Member Posts: 5
    Hey Carman, big fan of the site. Could you please post the residuals and MF for a 2012 Accord Sedan (both the EX-L and EX-L V6), assuming a 3 yr, lease w/ 15k/year.

    Also, is the 3 yr lease the way to go on this vehicle or are the numbers better for a 2 year.

    Thanks so much!
  • kpdadroidkpdadroid Member Posts: 3
    Honda Accord V6 EXL OTD price $27.7k was quoted to me by a dealer from Manhasset Honda in NY. I wonder if this is a good deal?

    I think the i-4 would be quoted around $2000-2500 lesser, which one is worth it? I currently lease a 2010 accord and am getting a little tired of the i-4 and wish I had little more action ....... maybe an i-4 EX with 190hp would be tempting?

    Please comment
  • pr_eaglepr_eagle Member Posts: 4
    Inadvertently posted this on the wrong forum, apologies.

    I'm being offered 12k, 35 payments on a 2012 LX @ $208/month here in Mississippi with $1500 down. Seems very basic and run of the mill. The dealer is claiming to eat the monthly taxes on the payment to get me right at $250 before the down payment.

    Any thoughts?
  • gpsacgpsac Member Posts: 98
    Not too impressed given that it is the end of the model year and $250 is the nationally advertised Honda payment for an LX with 0 down for 35 mo. @ 12k miles.

    A couple weeks ago I got an EX 4 sedan for 227 + tax ($242) with 0 out of pocket and if you consider the fact that the dealer made the final 2 payments on the 2010 I dropped off, it works out that the 227 is really like $215.
  • pr_eaglepr_eagle Member Posts: 4
    So your deal on the EX was $215+tax, no money down? Around $237-8...for a bump in the model as well.

    Thanks for the info. I think I'll get multiple quotes from regional dealers and see what my local guy wants to do then.
  • pr_eaglepr_eagle Member Posts: 4
    Dealer has moved to $199/month (taxes included) on a 2012 LX 4, $1500 down with 12k, 35 payments and they are having the exterior/interior colors I want brought in from another dealership.
  • robcola1robcola1 Member Posts: 3
    I am sorry for my ignorance,,,but how do you use the residual and money factor to calculate the cost of the lease...is there a formula?
  • pegasus17pegasus17 Member Posts: 536
    easiest one on the web:

    http://www.leaseguide.com/calc.htm
  • robcola1robcola1 Member Posts: 3
    Thanks I will check it out!
  • tpbctpbc Member Posts: 13
    Can you tell me whether Massachusetts is one of these states? I am considering a lease on a 2012 Accord LX and was just quoted a $17,776 price and want to get paid cash on my 2011 Elantra.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks bradl1 :shades: . Here you go.

    Honda Finance's August 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 .00046 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of an Accord Sedan EX-L V6 are .00046 and 51%.

    When negotiating your deal on either of these cars, make sure to take advantage of the total of $1,500 in cash incentives that are currently available on it.

    A 2-year lease of these cars would definitely be more expensive than a 3-year lease.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey robcola1. The lease calculator that pegasus was kind enough to share is great, but if you're interested here's how the formula that is used to calculate payments works: Calculate Your Own Lease Payment. I usually use this formula and Excel to work up payments.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That's a good question, tpbc. I am not personally familiar with the sales tax laws for Mass, but you might be able to find out by visiting one of the following sites: Mass Department of Motor Vehicles or Mass Department of Revenue.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • robcola1robcola1 Member Posts: 3
    Hi Car_man
    Thanks for the info..that is excellent info and gives me even more detail on the answers I need. I appreciate your help.
    Bob
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome Bob. I'm glad that I was able to help you out.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • yankeefan07yankeefan07 Member Posts: 1
    partcans:

    Did you close a deal with Piazza? I also found that they have provided the best internet numbers.

    If you dealt with a trade-in or lease return, please advise as to how they treated you. Do they low ball the lease figures and therafter also low ball you on your trade.

    Thanks
  • marie99marie99 Member Posts: 21
    I am not an expert, but I did lease a LX in April and thought I would reply to you. I based my decision on the total for the lease and the residual. My lease total [complete] is $7009 for 12k miles 36 months, $13149 residual. I jumped at it because I thought it was quite a deal, and I had a 16 year old Accord LX. I think it is a good car, not great. There are some issues for me, such as stopping distance, uncomfortable seats, below average stereo with this Accord. If I didn't get a good deal, I would have waited for the '13 Altima,'13 Accord, or maybe something else. Add up the total for your lease , taxes, tags, dealer fees, money down, everything. I think the LX, at this time, should be close to $7000 with a fairly low residual.
  • miami425miami425 Member Posts: 2
    edited September 2012
    I currently have an Accord LX with 6 weeks remaining on the lease. Here is what the dealer has quoted for a new lease:
    2012 Accord SE 36 month lease
    12000 miles year
    I do not have to make the one remaining payment on the current lease
    No payment the first month
    $271 payment including tax months 2-36
    $372 at inception for tags
    Good deal or should I try to negotiate more?
  • gpsacgpsac Member Posts: 98
    Hi miami424,

    Assuming there is still decent availability as it appears the incentives are the same as August, I might check further.

    30 days ago I had 2 payments left on a 2010 LX and thought I'd test the waters one weekend. Used Edmunds to e-mail several dealers in Central Florida. Two hours later I was on the phone with a dealer on the east coast (about 45 miles away) cementing a deal! Bigger dealers in Orlando would not deal enough.

    Dealer took care of the last 2 payment on my 2010 and had to "dealer trade" for the 2012 EX auto 4 dr I wanted. $242 a month (incl tax) 36/12k with ZERO out of pocket. Three days later I was there and back in under 3 hours with my new one. Just in time for the ball game.
  • miami425miami425 Member Posts: 2
    Thanks for your advice!
  • jmb1891jmb1891 Member Posts: 3
    gpsac,

    Can you tell me the name of the dealer? I am in Orlando and will be leasing a new Accord soon. Or at least tell me which city on the coast. Thanks.
  • gpsacgpsac Member Posts: 98
    Titusville. Do the email quote from Edmunds to get the internet manager.
  • jmb1891jmb1891 Member Posts: 3
    Awesome. Thanks! Hopefully there will be some good left over 2012s when I am ready to lease.
  • maxpower02maxpower02 Member Posts: 103
    Does anyone have what the money factor and residual value will be on a 2013 Accord Touring.
    I know its early, but I am stopping by the dealer on Wednesday, just thought I would have this info in my back pocket. Also, will these numbers change as it gets later into the model year, say in a month or 2?

    Thanks!
  • corvettecorvette Member Posts: 10,257
    edited September 2012
    According to Weymouth Honda's lease calculator, it's 0.00155 and 57% for 12,000 miles per year on a 2013 Touring. It's possible the numbers may get better once there is less demand. I'm sure the dealers will be more willing to negotiate on the price of the car after a few months.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Good call, corvette. Honda just introduced the lease program for the '13 Accord a couple of days ago. .00155 is Honda Finance's new and improved standard lease money factor. Honda will definitely eventually enhance its lease program on the '13 Accord. It always has lease support on this model. Of course, it could take a couple of months since the Accord was just redesigned and the standard money factor isn't bad. It's tough to say for certain.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • cashibatacashibata Member Posts: 8
    The money factor is actually .00165 when you factor the security deposit being waived, otherwise it would be .00155. The residual is 57%. These are adjusted every 3 months as the year progresses. The residuals now will be at their highest percentage since we are not in 2013 and they gradually go down throughout the year. The residual values are determined by Honda Finance and cannot be negotiated. Also, the Touring model has not arrived yet where I work and I work in one of the top 5 Honda dealers in the US. We have discounted some of the other Accord trim levels though. I am sure the programs will get better as Honda is always in the race to be the number 1 selling car in the US in the respective class and we want to beat out the Camry which was redesigned last year. We now have the better product. The money factor rate now on remaining 2012 Accords is .00046, much lower.
  • maxpower02maxpower02 Member Posts: 103
    Thanks everyone for the info. Went in to the dealer yesterday, shown some EXLV6's, asked about the Touring, got no real reply. Guess they did not have any in stock...Going back end of November... should have plenty by then.
    So, according to Weymouth Honda's lease calculator, the monthly payment is about $406(before sales Tax), no down payment or additional expenses. Hopefully by the end of November, the money factor will be lower. Will see.....
  • jcarlosjcarlos Member Posts: 8
    Hi.

    I'm a 2009 Honda Civic lease holder. My lease is up next month and I'm looking for a new lease on the 2013 Accord LX or Sport sedan. I'm in good standings with Honda as I never missed a payment and have excellent credit. I'm not sure if I should be leasing now or wait until subvented lease offer from Honda. I don't mind not driving for a few months.

    One dealer told me as long as my credit is good there's no reason to wait for subvented lease from Honda as they can still offer me the same deals. Another dealer in NYC quoted me $298/m for the LX and and $310/m for Sport with no down payment and $595 bank fee plus local tax and DMV fees.

    -Is that a good deal in NYC?
    -Does it make sense to lease now, or should I wait for subvented lease offer from Honda instead?
    -Will the Sport be more expensive to cover for insurance?
    -When should we expect subvented lease offer from Honda on the 2013 Accord?

    Thank you!

    JC
  • verinoxverinox Member Posts: 76
    So, according to Weymouth Honda's calculator, payment should be about $346/mo + tax with 732.49 due at signing including first payment.

    I went to a dealer yesterday, their first offer back was ludicrous... $589/mo with $2k down. I showed them the Weymouth price and a quote from Legend Leasing, both of which were under $350/mo, and they essentially laughed at me and said that I should look at a Civic EX, so needless to say, I won't be going back.

    I'm willing to wait 6 months until the dealers' lots are fuller and they're more flexible on price. The money factor is a bit high still too. But WOW, is this new Accord amazing. Well worth the wait... Honda finally has their mojo back.
  • springmanspringman Member Posts: 5
    Hi J,
    I picked up a 2013 Sport yesterday.
    They only had three on the lot. Would not go for my autoshopper price of 23, 471. Car had wheel locks at say $65-$80 I did not count in.

    However I returned a Honda on lease- so I went that route- Sold the car on lease at $24K, Was $357. a month 36 months. Not one dime out of pocket- they paid-tax, tags-registration- zero due from me in MD. 6%

    They now supply floor mats- yeah you may laugh but. They also gave me lifetime oil changes and road assistance as Honda does not provide that.
    I grumbled at Honda for years on road noise and a few other things. This car however is superb. I love the 4 cyl. Sport. Fantastic!
    Jim
  • pegasus17pegasus17 Member Posts: 536
    ref: 4825
    Curious about the ride difference between the sport and the LX. Did you drive both? Better start saving up for those 18 inch replacement tires ;) They don't typically wear well especially with the shorter sidewall. Good luck with your new ride!
  • sslyusarsslyusar Member Posts: 1
    Deals you are getting are very bad, new accord model just came out so prices will not be good, if you can wait few months I recommend that you do, if your lease is not over yet, you can always request 3month extension on your current lease and you can do it multiple times.

    4 cylinder Accord EX-L should not cost more than $300/month to lease in NY. For $350 you should be looking at fully loaded 6 cylinder model. Especially considering that you will get the loyalty discount.

    This is assuming good credit.

    When new models come out they have no deals for these cars, to help dealers move older inventory. That's why it is not a good time to buy 2013 model but it is a great time to buy 2012 model, you need to wait until 2012 models are sold out and deals come out for newer model.

    So my advice - tell the dealers to shove that civic EX up their [non-permissible content removed]. There is little difference between new accord and older model in price, dealers are just trying to make money. Do not believe a word they say. I hate to discover people paying $50 or $80 more for a lease because they pretty much got ripped off.
  • cashibatacashibata Member Posts: 8
    JC,

    Honestly, I would wait until the lease programs get better. They are using Standard Honda lease rates now which are the equivalent of about 4% APR in the money factor rate. We are starting to stock up on Accords at this point, meaning the new 2013. We have 2012's left over as well but upper trim levels that you can get a spectacular deal on both in lease or finance. Up to $2750 in dealer cash for the V6 models and $2250 for the 4 cylinder Accord EX and above models, 2012. Plus the money factor rate on the 2012 is very low .00046. I would call Honda and extend your Civic lease month to month. I would probably expect in the next few months the programs will get better. In terms of insurance for the Sport model, the only thing that the sport model adds are the following features:

    Leather wrapped steering wheel.
    18" alloy wheels and tires
    All black interior regardless of exterior color
    Dual Exhaust
    Rear Decklid spoiler
    Fog lights
    189 hp vs 185hp on the other Accords
    Paddle shifters for the CVT transmission

    I really don't think the insurance will be higher quite honestly. They are mostly cosmetic things and not a huge increase in power.

    CS
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