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2014 Honda Accord Lease Questions

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  • ajames8774ajames8774 Member Posts: 27

    I am relatively new to leasing, coming off my first Honda Accord lease. I went in for a leasing offer I saw advertised and got the monthly payment but am afraid I drastically overpaid market value for the car. I have a 2011 Accord Special Edition. Turn in date is June 27 and I'm only at 26,500 mi on a 12,000 mi per yr lease. Residual Value is 14,633.40

    I'm interested in a 2014 Accord Sport and do not want to pay any cap reduction. 12,000 mi per year

    What should my expectations be in South Jersey?

    Please Advise Following Targets:

    Agreed Upon Value of Vehicle
    Gross Cap Cost
    Cap Cost Reduction (want this as close to 0 as possible)
    Residual Value
    Monthly Payment
    Any other fees I should be looking out for that I should expect to be able to negotiate

    I have been working with a dealer locally for some time with my current lease and other Hondas we have owned. I fully expect to put my request out to multiple dealers and see what they come back with, unless the forum thinks that is a bad strategy. If not please advise the exact way to negotiate online. I do have a sales rep at my local dealer so if there is a strategy I should use with him I'm all ears. Thank you all so much.

  • hondalyfehondalyfe Member Posts: 1
    Hi everyone. I am looking to get into my first lease (I currently own a 2010 Civic Si but I want an accord now).

    Does someone have the MF and residual in South Florida for: lx cvt, ex cvt, exl cvt, and exl v6 non navi? I would really appreciate it.

    Also, does anyone have experience with leasing in Florida?

    Thanks!
  • kyfdxkyfdx Moderator Posts: 266,809

    @ajames8774 said:
    I am relatively new to leasing, coming off my first Honda Accord lease. I went in for a leasing offer I saw advertised and got the monthly payment but am afraid I drastically overpaid market value for the car. I have a 2011 Accord Special Edition. Turn in date is June 27 and I'm only at 26,500 mi on a 12,000 mi per yr lease. Residual Value is 14,633.40

    I'm interested in a 2014 Accord Sport and do not want to pay any cap reduction. 12,000 mi per year

    What should my expectations be in South Jersey?

    Please Advise Following Targets:

    Agreed Upon Value of Vehicle
    Gross Cap Cost
    Cap Cost Reduction (want this as close to 0 as possible)
    Residual Value
    Monthly Payment
    Any other fees I should be looking out for that I should expect to be able to negotiate

    I have been working with a dealer locally for some time with my current lease and other Hondas we have owned. I fully expect to put my request out to multiple dealers and see what they come back with, unless the forum thinks that is a bad strategy. If not please advise the exact way to negotiate online. I do have a sales rep at my local dealer so if there is a strategy I should use with him I'm all ears. Thank you all so much.

    You have 4 months to go on your current lease... the market might be very different by then. If you want to know what others are paying, visit our Accord Prices Paid discussion, here:

    http://forums.edmunds.com/discussion/16722/honda/x/2014-honda-accord-prices-paid-and-buying-experiences#latest

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  • kyfdxkyfdx Moderator Posts: 266,809

    @hondalyfe said:
    Hi everyone. I am looking to get into my first lease (I currently own a 2010 Civic Si but I want an accord now).

    Does someone have the MF and residual in South Florida for: lx cvt, ex cvt, exl cvt, and exl v6 non navi? I would really appreciate it.

    Also, does anyone have experience with leasing in Florida?

    Thanks!

    .00073 MF

    Residuals: 57%, 57%, 55% and 54%, respectively for 36mo, 15K/yr

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  • jtg54jtg54 Member Posts: 2

    Hi all,

    I'm looking into leasing a 2014 Honda Accord Sport, and I found a dealership in MA, Weymouth Honda, that has a lease calculator online that factors in taxes, dealer fees, registration, etc. I was surprised to see that, since usually most dealers aren't really upfront with all that information. I'm from CT, and I'd be looking to lease from Hoffman Honda. I wanted to present this deal... wasn't sure if it was too good to be true and if they'd even match it.

    MSRP - $25,305.00
    Sales Price - $21,967.13

    36 Months, 12k miles per year
    0.00040 MF, 58% residual
    $1768 due at signing
    $200 base monthly payment, $212.70 w/ tax (CT @ 6.35%)

    Only fees due at signing are $125 registration fee, $239 doc fee. Seems pretty low for a doc fee, but I'm sure that could always be negotiated down.

    The payment is right where I'd want it to be. Good deal? Impossible deal to get at any other dealer? Just curious to see what others have seen recently.

  • cdtottencdtotten Member Posts: 14

    Looking to lease a 2014 Accord V-6 Touring. Can someone share the Residual, MF and what kinda cap cost people are seeing?

  • dontburnearldontburnearl Member Posts: 23

    I am interested in leasing numbers (residuals & MF) for a 2014 Accord EX-L, 15k a year, in Texas. Looking at both nav & non - nav

    Does anyone know if there are any other incentives (like flex cash) that Honda is offering for March

    Thanks for all your help.

  • kyfdxkyfdx Moderator Posts: 266,809

    @jtg54 said:
    Hi all,

    I'm looking into leasing a 2014 Honda Accord Sport, and I found a dealership in MA, Weymouth Honda, that has a lease calculator online that factors in taxes, dealer fees, registration, etc. I was surprised to see that, since usually most dealers aren't really upfront with all that information. I'm from CT, and I'd be looking to lease from Hoffman Honda. I wanted to present this deal... wasn't sure if it was too good to be true and if they'd even match it.

    MSRP - $25,305.00
    Sales Price - $21,967.13

    36 Months, 12k miles per year
    0.00040 MF, 58% residual
    $1768 due at signing
    $200 base monthly payment, $212.70 w/ tax (CT @ 6.35%)

    Only fees due at signing are $125 registration fee, $239 doc fee. Seems pretty low for a doc fee, but I'm sure that could always be negotiated down.

    The payment is right where I'd want it to be. Good deal? Impossible deal to get at any other dealer? Just curious to see what others have seen recently.

    I have no idea if you can get that deal, but I do have a question. Where did you see the .00040 money factor? The lowest I've seen is .00063 on a sign/drive lease (.00073, otherwise).

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  • kyfdxkyfdx Moderator Posts: 266,809

    @cdtotten said:
    Looking to lease a 2014 Accord V-6 Touring. Can someone share the Residual, MF and what kinda cap cost people are seeing?

    Accord money factors vary by state. The residual is 51% for 36mo, 15K, though.

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  • kyfdxkyfdx Moderator Posts: 266,809

    @dontburnearl said:
    I am interested in leasing numbers (residuals & MF) for a 2014 Accord EX-L, 15k a year, in Texas. Looking at both nav & non - nav

    Does anyone know if there are any other incentives (like flex cash) that Honda is offering for March

    Thanks for all your help.

    .00116 MF and 55% residual for 36mo, 15K/yr in Texas. Subtract 2% for NAV.

    A new program comes out tomorrow.. it will be a few days before we have the information.

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  • cdtottencdtotten Member Posts: 14

    @kyfdx@Edmunds said:
    Accord money factors vary by state. The residual is 51% for 36mo, 15K, though.

    I am in Kentucky.

  • kyfdxkyfdx Moderator Posts: 266,809

    @cdtotten said:

    I am in Kentucky.

    .00116 MF

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  • cdtottencdtotten Member Posts: 14

    And is the residual for an V-6 EXL difference for 12k a year for 36 months?

  • jtg54jtg54 Member Posts: 2

    @kyfdx@Edmunds said:
    I have no idea if you can get that deal, but I do have a question. Where did you see the .00040 money factor? The lowest I've seen is .00063 on a sign/drive lease (.00073, otherwise).

    Ended up having Hoffman Honda match the lease special from Weymouth Honda. Check out their lease calculator online. It shows residuals and money factors.

    Here's what I was working with:

    http://www.weymouthhonda.com/lease/?&code=CR2F5EEW&year=2014&leasetype=5&dp=200&ltax=6.35&credit=3

  • cdtottencdtotten Member Posts: 14

    Can someone tell me the new money factor rates for the 2014 Honda Accord EX-L V6 with and without navi for 12k and 15k miles in Kentucky?

  • kyfdxkyfdx Moderator Posts: 266,809

    @cdtotten said:
    Can someone tell me the new money factor rates for the 2014 Honda Accord EX-L V6 with and without navi for 12k and 15k miles in Kentucky?

    .00086 MF and 54% residual for 36mo, 15K/yr, without NAV

    Subtract 2% for NAV, add 2% for 12K/yr.

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  • alansufialansufi Member Posts: 18
    edited March 2014

    Hi!

    What are the figures for a 2014 Accord Ex? Located in the Boston, MA area.

    36m/10k yr

    36m/12k yr

    Thanks

  • kyfdxkyfdx Moderator Posts: 266,809

    @alansufi said:
    Hi!

    What are the figures for a 2014 Accord Ex? Located in the Boston, MA area.

    36m/10k yr

    36m/12k yr

    Thanks

    .00045 MF and 59% residual for 36mo, 12K/yr. $500 lease cash.

    I don't believe that Honda offers a 10K/yr program.

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  • asmith262asmith262 Member Posts: 6

    Looking to lease an Accord EXL w/NAVI for 36 months, 12k miles a year. Anyone know the MF and residual for the Atlanta GA area?

  • rob_k3rob_k3 Member Posts: 2

    Hi, I'm debating between an Accord and a different car. Can someone post the money factor and residual for a 4 cyl. EX-L in Ohio? 36mo/15k. Thanks, I appreciate it.

  • kyfdxkyfdx Moderator Posts: 266,809

    @asmith262 said:
    Looking to lease an Accord EXL w/NAVI for 36 months, 12k miles a year. Anyone know the MF and residual for the Atlanta GA area?

    .00086 MF and 55% residual. $500 lease cash.

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  • daveb22daveb22 Member Posts: 19

    I was offered the following on 3 year 36,000 mile lease for a 2014 Accord Sport. Is this a good deal or can I do better?

    MSRP: $25,305
    Selling Price: $22,765
    Residual Value: $14,676.90 (58%)
    Money Factor: .00045
    Payment: $289/month

    Only have to come up with 1st payment upon signing. Acquisition fee, doc fees, dmv fees, and taxes (8%) rolled into the lease. Seems like a pretty good deal. Can I do better on selling price or residual to get this payment a little lower?

  • kyfdxkyfdx Moderator Posts: 266,809

    Residuals are set by Honda Finance... those can't be adjusted.

    Try the Prices Paid discussion to compare pricing with other members, here:

    http://forums.edmunds.com/discussion/16722/honda/x/2014-honda-accord-prices-paid-and-buying-experiences#latest

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  • jpljpl Member Posts: 36

    Internet Long Island

  • jpljpl Member Posts: 36

    Hi: Accord lease expires April 1, Who has an Internet Sales dept. on Long Island???

                                jpl
    
  • gmanusmcgmanusmc Member Posts: 699

    @jpl said:
    Hi: Accord lease expires April 1, Who has an Internet Sales dept. on Long Island???

                                jpl
    

    Hop over to the Accord prices paid thread and look for brian125 - he's very familiar with Long Island market.

    Bill G

    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • alansufialansufi Member Posts: 18

    What are the figures for a Accord EX-L V6 (non-navigation) 36m/12k in the Boston, MA area?

  • kyfdxkyfdx Moderator Posts: 266,809

    @alansufi said:
    What are the figures for a Accord EX-L V6 (non-navigation) 36m/12k in the Boston, MA area?

    .00045 MF and 56% residual. $500 lease cash

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  • cdtottencdtotten Member Posts: 14

    What is the residual and MF and incentive on a Accord Sedan Hybrid EX-L in KY? 15k/yr.

  • kyfdxkyfdx Moderator Posts: 266,809

    @cdtotten said:
    What is the residual and MF and incentive on a Accord Sedan Hybrid EX-L in KY? 15k/yr.

    The residual is 52% for 36mo, 15K/yr.

    The money factor for regular Accords is .00086, but that may not apply to the Hybrid. I'm sorry, but I don't have that information.

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  • nt7001nt7001 Member Posts: 21

    My current 4-cyl Accord EX-L lease expires 5/1/2014. Can you tell me the current MF and residual on the 2014 model? Are revisions due anytime soon? Also, you've used the term "lease cash". Does that mean a net cap cost reduction? Thanks.

  • kyfdxkyfdx Moderator Posts: 266,809

    @nt7001 said:
    My current 4-cyl Accord EX-L lease expires 5/1/2014. Can you tell me the current MF and residual on the 2014 model? Are revisions due anytime soon? Also, you've used the term "lease cash". Does that mean a net cap cost reduction? Thanks.

    36mo, 15K/yr residual is 55%.

    The money factor is either .00045 or .00086, depending on your state of residence.

    The $500 is manufacturer to dealer cash, so you have to account for that, when negotiating a selling price.

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  • nt7001nt7001 Member Posts: 21

    Thanks. Forgot to mention my state - Florida.

  • kyfdxkyfdx Moderator Posts: 266,809

    @nt7001 said:
    Thanks. Forgot to mention my state - Florida.

    Florida is Region A - .00045 MF

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  • jpljpl Member Posts: 36

    Lease expires Monday, anyone from Long Island get a lease lately, & what Dlr.? Looking at Accord EX-L-4 or 6 cyl. Also, have only 14K miles, does that give me any bargaining power??
    Thanks, jpl

  • MichaellMichaell Moderator Posts: 263,134

    @jpl said:
    Lease expires Monday, anyone from Long Island get a lease lately, & what Dlr.? Looking at

    Accord EX-L-4 or 6 cyl. Also, have only 14K miles, does that give me any bargaining power??

    Thanks, jpl

    If you buy your current car at the end of lease at the agreed upon residual value, you may be able to sell it privately and make a profit.

    If you simply turn in your car, the low miles don't do you any good.

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  • solarijoesolarijoe Member Posts: 20

    Just leased an Accord LX-CVT last week. Cap cost was approx $20,500. residual approx $13,450. 36 months, 15K miles per year. Monthly payments of $250, including tax. Paid $250 at time of lease. All fees, acquisition, etc were rolled into the lease. They also rolled in my last two lease payments from my old car (non-Honda).

  • dontburnearldontburnearl Member Posts: 23

    Curious - is the residual value based on the MSRP, invoice or price that the car was sold at?

  • MichaellMichaell Moderator Posts: 263,134

    @dontburnearl said:
    Curious - is the residual value based on the MSRP, invoice or price that the car was sold at?

    Residual is always calculated against the MSRP.

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  • devilsadvct33devilsadvct33 Member Posts: 117

    Hi,

    Can you please advise residual and money factor for a V-6 Touring for 36 months with 12,000 and 15,000 miles per year? Thanks.

  • kyfdxkyfdx Moderator Posts: 266,809

    @devilsadvct33 said:
    Hi,

    Can you please advise residual and money factor for a V-6 Touring for 36 months with 12,000 and 15,000 miles per year? Thanks.

    MF is .00045 or .00086, depending on your state of residence. $500 lease cash

    Residuals are 53%/51%.

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  • rbirns1rbirns1 Member Posts: 318

    Is it me, or do these residual numbers seem low for a Honda?

  • kyfdxkyfdx Moderator Posts: 266,809

    @rbirns1 said:
    Is it me, or do these residual numbers seem low for a Honda?

    I'd prefer to think of them as realistic. Also, incentives can be applied in different ways. Most buyers report deals of $1000 under invoice. So, the incentive money is upfront, not in the form of an inflated residual.

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  • devilsadvct33devilsadvct33 Member Posts: 117

    @kyfdx@Edmunds said:
    MF is .00045 or .00086, depending on your state of residence. $500 lease cash

    Residuals are 53%/51%.

    Hi,

    Which money factor would apply to Florida? Thanks.

  • rbirns1rbirns1 Member Posts: 318

    @kyfdx@Edmunds said:
    I'd prefer to think of them as realistic. Also, incentives can be applied in different ways. Most buyers report deals of $1000 under invoice. So, the incentive money is upfront, not in the form of an inflated residual.

    Fair enough, but I see that Altimas are also selling around 1k under invoice, but with residuals at 57% and interest essentially zero (MF .00003). This means an Altima leases out much better than an Accord, which is historically unusual. Hondas are known for high resale/residual.

  • kyfdxkyfdx Moderator Posts: 266,809

    @devilsadvct33 said:

    Hi,

    Which money factor would apply to Florida? Thanks

    Florida is Region A, which would be the lower money factor.

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  • kyfdxkyfdx Moderator Posts: 266,809

    @rbirns1 said:
    Fair enough, but I see that Altimas are also selling around 1k under invoice, but with residuals at 57% and interest essentially zero (MF .00003). This means an Altima leases out much better than an Accord, which is historically unusual. Hondas are known for high resale/residual.

    Well... the trim line in question was the V-6 Touring.. The 4-cylinder EX residual is 6% higher.. which is pretty normal for Hondas (lower trim lines have higher residuals).

    The Altima lease is dirt cheap, right now, without a doubt.

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  • kazuya_mishimakazuya_mishima Member Posts: 39
    Hey guys so far I only contacted 2 dealers about a Accord Sport. Both got back to me with a monthly payment of just under 300, does not include dealer and other fees.

    I was wondering what would the average lease for the Honda Accord Sport at MSRP of 25305 be. Neither one really provided me with what numbers they are plugging in, I get the feeling they don't want to. One of the dealers actually had spent me and estimated price of a little over 21k for the car, but when I said specifically about leasing I had another guy email me and it just seemed like he used the msrp as the cap cost as well after I plugged the numbers in.

    Any advice on how to haggle with the internet department would be welcome.
  • MichaellMichaell Moderator Posts: 263,134

    @kazuya_mishima said:
    Hey guys so far I only contacted 2 dealers about a Accord Sport. Both got back to me with a monthly payment of just under 300, does not include dealer and other fees.

    I was wondering what would the average lease for the Honda Accord Sport at MSRP of 25305 be. Neither one really provided me with what numbers they are plugging in, I get the feeling they don't want to. One of the dealers actually had spent me and estimated price of a little over 21k for the car, but when I said specifically about leasing I had another guy email me and it just seemed like he used the msrp as the cap cost as well after I plugged the numbers in.

    Any advice on how to haggle with the internet department would be welcome.

    You are right to negotiate the selling price of the Accord Sport. Check the Accord Prices Paid forum for an idea of how to get the best price and what sample prices are in your neck of the woods.

    Once you've got a solid selling price, come on back and we can plug in all the numbers for you. Also, what lease term and miles per year are you looking for?

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  • kazuya_mishimakazuya_mishima Member Posts: 39
     Vehicle Price:$25,305.00  AutoNation Savings:-$2,746.00  SmartChoice Price:$22,559.00  Wheel Locks:+$149.00  Vehicle Selling Price:$22,708.00     Sales Tax (estimate):+$1,460.79  Tag/Registration Fees (estimate):+$298.75  Tire/Battery/MVWEA:+$8.50  Dealer Service Fee:+$699.95  Balance Due (estimate):$25,175.99 

    He then breaks it down to:

    LEASE OPTIONS
    Cash Due 36 months 12,000 Miles
    $668(down) $296(monthly)
    $1,200(down) $281(monthly)
    $1,800(down) $263(monthly)

    I emailed him back and asked about money factor which he said was inncluded so it confused me even more.
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