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Honda Accord Crosstour Lease Questions

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Comments

  • gatorinmngatorinmn Posts: 6
    Hi Carman,

    Can you please provide the current money factor and residuals for a 2011 Crosstour EX-L AWD with navigation on a 36 month lease at 15,000 miles per year? How much different is the residual with 12,000 miles per year? Thanks!
  • gwynnersgwynners Posts: 1
    I have a 2009 Accord EX and wish to trade it in on another. 2011 Crosstour EXL. I was quoted 1,000 down and 425/mos x36 mos. With the current 0 down, $320/mos deal I see on Honda....I am looking for input. Understanding that this is for EX and I want an EXL still think that $100/mos more adds up to more that the difference in price between the two vehicles. Plus, with the 1,000 down, it would appear that my trade in is less than what KBB shows as trade in value.

    My current lease trade in value is 17, 500 and current Accord has 24, 103 miles. It is in very good condition and based on KBB trade in value in "good" condition is well over 18K. Is the above information quoted by the dealer not on the up and up?

    Also, be interested in hearing from others on best way to approach. Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello gatorinmn. Through July 5th (today) Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Crosstour EX-L AWD with 15,000 miles per year are .00077 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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

    As I mentioned, Honda is scheduled to introduce a new incentive program some time tomorrow. Please feel free to check back with me for an update on what the new program is like.

    Car_man
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  • j_smith1j_smith1 Posts: 14
    Car_man,

    Could you post the July residual and money factor for ex-l awd 36mo 12k? Any lease incentives?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure can, j_smith1. Honda's July buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Crosstour EX-L AWD with 12,000 miles per year are .00049 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing a $1,500 dealer cash incentive on this vehicle that is compatible with the aforementioned lease program.

    Car_man
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  • j_smith1j_smith1 Posts: 14
    Car_man,

    Could you confirm that those numbers are correct for NY state? Dealer is giving me 54% and .00039 and telling me there are no incentives...

    Thanks again!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi j_smith1. This is a national program. Does the unit that you are interested in have navigation? If so, that would explain the difference. The residual values for Accord Crosstours that have Navigation are 2% lower than those without.

    Car_man
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  • littlemamamialittlemamamia Posts: 2
    edited September 2011
    So i went to the honda dealership in edison, nj today and got pricing for a 36 month/ 12k 2011 Crosstour EX-L AWD w/ nav and these were the numbers i got which seem incredibly high. Id like to know what consumers who leased the same car paid or what numbers i should be pushing for ( i.e what points i should be bringing up on why the cost should be lower). They actually told me they would be losing $950 with these numbers.

    * $0 down
    *$1,561 in fees (including acquisition) upfront
    *$488/month

    I am in the NJ/NYC area, but im not sure if that makes a difference. Please help!
  • In WV, I leased a 2011 Accord Crosstour EX-L AWD (without NAVI) when we had almost leased a CR-V EX (with a sunroof), for $300 per month, 36 months and 12000 miles. We went from the CR-V to the cross tour for all the extra that the Crosstour EX-L gave us; it looked too good a deal to miss. This is what our terms for the crosstour are
    $354 per month
    $354 down (including plate, etc.)
    36 months, 12000 miles.

    I know now in november 2011, this is probably too late to help you, littlemamamia. But it might still help.
    At the end of the lease, we can purchase it for about 19,800$ or some price similar. Now, Car-man, we got a good, probably an excellent deal, have we not? Please comment. Thanks.
    K.
  • Car Man,

    I am no car leasing expert. I am looking to lease a 2-wheel drive 2012 Crosstour with Navi. I live in the West Palm Beach Florida area. My thoughts are to lease it for 36 months with 12,000 miles per year included. I am planning to put down $3000. There is a high likelihood that I will want to buy the car at the end of the lease. Should I go for just 10,000 miles per year? Can you help me with the details I will need to know to help me know whether I am getting a very good deal. I have a pretty good credit score of around 705.
  • Hi delrayjay. Let me begin by saying that it really isn't a good idea to put so much money down when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they paid at signing if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, it's much safer to go with a zero down lease.

    Going with a lower mileage allowance than you expect to actually drive really won't save you any money in the long run. This is because while the monthly payments for vehicles with low mileage are lower, their end-of-term purchase option prices are higher. If I was in your position, I would go with the mileage allowance that I really thought that I would use. This would give me the option of keeping the car or returning it at lease-end if you don't want to buy it for some reason, such as it give you trouble, is in an accident, etc...

    Car_man
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  • 2012 Honda Crosstour 2-wheel drive with Navigation

    MSRP is $35,955
    $500 Hondo promo coupon
    36 month term
    12,000 miles/year
    Lease payment is $438.88 including Florida sales tax

    At signing I need to put down first month payment of $438.88 plus Florida new car registration of approx $300
  • Dear Car_Man,

    Can you tell me what the November money factor and residuals are on this vehicle for a 10,000 or 12,000 lease?

    MSRP is $31,500

    I see the Honda deal for $259 but I don't want to put $3,199 down at signing.

    I am in the DFW area.

    Thanks,
    David
  • Hi David. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Crosstour EX 2WD with 12,000 miles per year are .00058 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • Hi Car_Man,

    You gave the December numbers for the 2012 Crosstour EX 2wd above. Would the MF and the residual change for the EX-L 2wd? If so what would they be? 36 month and 12k a year stay same.

    Thanks,

    Jeff
  • ridge3ridge3 Posts: 4
    Hello Car_man

    New to the site but impressed by the advice direction you give here--thanks!
    I am considering 2012 Crosstour V6 AWD EX-L for 15,000 mile/year lease. Could you provide the current MF and residual through Honda? Appreciate it.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome ridge3. Thanks :shades: . Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Crosstour EX-L AWD with 15,000 miles per year are .00084 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal, make sure to take advantage of the $1,250 cash incentive that General Motors is currently providing on this vehicle.

    Car_man
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  • vladracvladrac Posts: 8
    edited June 2012
    How about current rates for 2012 crosstour EXL 2 WD with 15,000 miles?
    I see the deal for the V6 EX is $330 with $0 down.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Sure vladrac. Honda Finance's June buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Crosstour EXL V6 2WD with 15,000 miles per year are .00084 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal on this vehicle, make sure to take advantage of the $2,000 dealer cash that is currently available on it.

    Car_man
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  • solepolesolepole Posts: 4
    Hi Car_Man!

    I was wondering if you could give me the MF and Residual for a 2012 Honda Crosstour EX (4-cyl, 2WD base model), as well as the EX V6 (also 2WD Base model). 12k miles year. Also, do you know if Honda has any pull-ahead programs running currently, or any sort of loyalty incentives?

    Thanks very much!
  • slev27slev27 Posts: 1
    Hello!
    What is the current RESIDUAL VALUE & Money Factor on a 36 month 12,000 mile/yr LEASE for:

    2012 Crosstour EX-L 4wd V6??

    Zipcode is 07052 if that matters
  • solepolesolepole Posts: 4
    edited June 2012
    Hey Guys,

    I just leased a new 2012 Honda Crosstour from a Boston area dealer two days ago. I got an absurdly good deal and figured I should share it with all of you as a basis for negotiation with your local dealers. I should let you know that up until about 6 months ago I worked at a dealership for 7 years (4.5yrs as a salesman and 2.5yrs as the Finance Manager). This certainly helped with my negotiations (since I let them know I worked in a dealership for so long), though I will say there was very little back-and-forth with the dealer. They were quite accommodating!

    I went in looking to lease a 2012 Crosstour EX 4-cylinder. (list price $28,585)
    I managed to negotiate a 36 month lease w/ 12k miles yr for
    $219 month +tax
    $0 capcost reduction (down payment)
    Total due at signing would be $1,234 (1st month's payment, documentation fee, acquisition fee, registration fee, tax etc.)

    ANY dealer should be able to match this lease. What is more impressive is that included in those numbers is the fact that the dealer was also going to write me a check for aprox $900 to cover my last 4 lease payments on my current car! (as long as I took an in-stock vehicle).
    If my current lease was up, I essentially could have gotten the deal for $900 less, effectively making my monthly payment $194 a month +tax (or keeping my payment the same and lowering my due @ signing fees by $900).

    My wife really really wanted a white car, and the dealer did not have a white 4 cylinder in stock. So we then worked a deal on a white 2012 Crosstour EX V6. List price of $31,270. (Keep in mind, you will always get the best deal on an IN-STOCK vehicle).

    The deal I ended up going with was:
    36 mth w/ 12k yr
    $264.48 base payment +tax
    $0 capcost reduction (down payment)
    $1,234 total due @ signing (includes 1st month payment, acquisition fee, doc fee, reg fee)
    +Dealer also writes me a check for $900 so I can pay off my current lease 4 months early.

    If you forget about the $900 check back to me and apply the $900 as an additional discount to the to selling price of the car it works out that they based the lease on a selling price of $24,230 (a $7,040 discount off MSRP). I have NO IDEA how they were able to do this, but they did. I am driving the car, so I know it's real. I also am basing all these numbers off the screen-printout they gave me since I asked for a copy during negotiations. I also confirmed these #s when I re-worked up the lease at home on my own dealer software that I have, so I know it is correct.

    Residual was 56% for both the EX V6 and the EX 4 Cyl.
    Money Factor for both cars was 0.00084 (Honda's highest tier credit)

    Hope this helps. We love the car by the way. The standard reverse camera is a very nice feature.

    Good luck!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi solepole. Through July 9th, Honda Finance's buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Crosstour EX 4-cylinder 2WD with 12,000 miles per year are .00084 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    I am not aware of any loyalty or pull-ahead programs from Honda on this model right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello slev27. Through July 9th, Honda Finance's buy rate lease money factor and residual for a 36-month lease of a 2012 Crosstour EX-L V6 4WD with 12,000 miles per year are .00084 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal on this vehicle, make sure to take advantage of the $2,000 cash incentive that is currently available on it.

    Car_man
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  • kkics1kkics1 Posts: 11
    I was looking at a 2012 EXL V6 with Nav and our local dealer is offering $379 with $1000 plus TTL for a 3year, 12000 mile lease. I have heard of better deals out there on in stock vehicles. Any insight on what is available for August? I was looking more for a 15,000 mile lease but was curious what the options are on leasing this vehicle from the dealer.
    Thanks!
  • Hello,
    I have been using the information on this forum to try and negotiate a deal on the Crosstour EX. I know I didn't get a good deal on my last lease and I am trying to do things differently this time. But honestly I feel like I have no idea what I'm doing.
    So, first I sent out quote requests through Edmunds and was contacted by several dealerships in which they quoted me on the EX model. One of the quotes was for $23,820 and another for $23,514.
    I sent them both back this email:
    I am looking to lease the Crosstour EX with a Cap Cost of $21,514. The Cap cost reduction would be $0, I am not putting anything down. I need to know what the money factor is currently (we would qualify for "super preferred/highest credit tier") and I also need to know at what percentage you are calcualting your residual value at currently.
    I look forward to hearing back from you.

    Dealer #1 replied:
    Thanks again for your interest in the 2012 Honda Crosstour EX. I would really like to earn your business, but a cap cost of $21,514 will be well below how much any dealership purchases the vehicle for. Honda is currently offering a $2000 incentive for Crosstours, which happens to be the largest discount you can anticipate for the year. I really cannot imagine a better deal later in the year. The money factor is .0006 and the residual is 56 percent. Let me know if you would like to come in to see the Crosstour and further discuss our offer.

    Dealer #2 replied:
    Thanks for your response. On a 2012 Crosstour EX 4 cylinder, with an internet sale price of $23,820, I'd be at a cap cost of $26,146, lease rate of $309/mth plus tax with zero out of pocket. Residual percentage is 56%, money factor .00060, and interest rate 1.44%. However, I just double-checked inventory and we do not have any EX or EX-L 4 cylinders in stock. Next up available trim is the EX-V6 which would lease at $349/mth plus tax, zero out of pocket.

    My questions are the following:
    With Dealer #1- the $2000 incentive, does that come off the price of the car, or are they offering a cash incentive? How do these incentives work?
    Also, how should I interpret his reply and what should I reply back?

    With Dealer #2- This reply really confused me, because I thought the internet sales price they were quoting me and the Cap cost were the same thing. I thought the cap cost was the amount you were agreeing to for the vehicle- essentially the sales price. So how does the sales price of $23,820.. go up to a cap cost of $26,146?

    Thank you!
  • Dealer #2 forgot to tell you about the bank lease fees and security deposit. That's why the cap cost is higher than the internet sales price. Also, you have to be very diligent when leasing a vehicle to make sure that the negotiated buy price is indeed correctly stated in the vehicle lease contract. There are more than a few dealers who love to lease because the price at which you are buying the car can be obscured.
  • iontrapiontrap Posts: 138
    What is the money factor and residual on a 2012 EX-L, 36 months and 12000 miles per year?
  • Hey iontrap. Honda Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2012 Crosstour EX-L 2WD with 12,000 miles per year are .00020 and 51% for consumers who qualify for its top credit tier.

    When negotiating your deal, make sure to take advantage of the $2,500 dealer cash that is available on this model this month.

    Car_man
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  • Car_man, I am looking for 2013 Crosstour EXL 2WD 4cyl lease rates for 36 mo / 15,000 mpy, please.
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