2015 Honda Accord Lease Questions

milwaukeeguy

Do you know money factor and 36 month / 36,000 miles residual % for EX CVT in Wisconsin?  

Michaell

milwaukeeguy said:

Do you know money factor and 36 month / 36,000 miles residual % for EX CVT in Wisconsin?  

.00029 and $500 lease cash. 36/12 residual on the EX is 57%

hector89

I'm in PA, looking at 36/12 for a 2015 Accord V6 Coupe EX-L, manual tranny, non-navi, MSRP $31,595. As I understand it, 10% state tax is added to the monthly payment. The offer included $4500 trade equity and when I called back, the salesman could not tell me how that would affect tax. $705.60 was listed as tax on the offer sheet and he could not tell me how that was calculated. Residual stated as 54.00. No MF appears on the sheet. Offer sheet as follows:
MSRP $31595
Savings $4130
CapCost $27,465
Add-ons $133.75 (splash guards)
Sales Tax 705.60
Dealer/State Fees 267.55
Total price $28,571.90
Net Trade 4500
Customer cash 0
Net Residual $17,061.30
Drive Off 4983.20
Cash Due 483.20
Monthly payment $215.65
When I called to inquire about taxes, he advised that some of the numbers were not entered correctly, but the payment was correct or very close. I expect final corrected numbers tomorrow. Does this add up at all?
Another offer on same vehicle was with no trade, $5,000 down, 29,484 cap cost, $16,685 residual, MF .00055, and payment was $299.77 I am not aware that either payment included tax. It seems a lot higher where the main difference on the higher offer is the $2000 higher cap cost and cash down v trade, the cash down being $500 more. Is something not right here?

Michaell

hector89 said:

I'm in PA, looking at 36/12 for a 2015 Accord V6 Coupe EX-L, manual tranny, non-navi, MSRP $31,595. As I understand it, 10% state tax is added to the monthly payment. The offer included $4500 trade equity and when I called back, the salesman could not tell me how that would affect tax. $705.60 was listed as tax on the offer sheet and he could not tell me how that was calculated. Residual stated as 54.00. No MF appears on the sheet. Offer sheet as follows:
MSRP $31595
Savings $4130
CapCost $27,465
Add-ons $133.75 (splash guards)
Sales Tax 705.60
Dealer/State Fees 267.55
Total price $28,571.90
Net Trade 4500
Customer cash 0
Net Residual $17,061.30
Drive Off 4983.20
Cash Due 483.20
Monthly payment $215.65
When I called to inquire about taxes, he advised that some of the numbers were not entered correctly, but the payment was correct or very close. I expect final corrected numbers tomorrow. Does this add up at all?
Another offer on same vehicle was with no trade, $5,000 down, 29,484 cap cost, $16,685 residual, MF .00055, and payment was $299.77 I am not aware that either payment included tax. It seems a lot higher where the main difference on the higher offer is the $2000 higher cap cost and cash down v trade, the cash down being $500 more. Is something not right here?

Base MF for the Accord is .00029, 36/12 residual on the V6 Coupe EX-L (no nav) is 52%. With your MSRP and total price, I get a $0 down payment of $350.34/mo pre-tax; add 10% on to that and the payment becomes $385.38.

We do not recommend making a down payment on a lease (either cash or trade equity); if the car is stolen or totaled you lose that money. Save the cash or have the dealer cut you a check for the equity.

hector89

Michaell said:

hector89 said:

Another offer on same vehicle was with no trade, $5,000 down, 29,484 cap cost, $16,685 residual, MF .00055, and payment was $299.77 I am not aware that either payment included tax. It seems a lot higher where the main difference on the higher offer is the $2000 higher cap cost and cash down v trade, the cash down being $500 more. Is something not right here?

Base MF for the Accord is .00029, 36/12 residual on the V6 Coupe EX-L (no nav) is 52%. With your MSRP and total price, I get a $0 down payment of $350.34/mo pre-tax; add 10% on to that and the payment becomes $385.38.

We do not recommend making a down payment on a lease (either cash or trade equity); if the car is stolen or totaled you lose that money. Save the cash or have the dealer cut you a check for the equity.

Thank you much for that advice. I'd like to clarify the "other" quote above, It was for a Navi car.We'll leave the navi car out of the picture now.
This second dealer now has quoted the V6, manual EX-L non-navi, MSRP 31,595, at CAP Cost $25,429, over $2000 less than the first dealer for the $31,595 car. They claim the invoice price is 27,179, over $2000 less than the first dealer claims for same car. Their 0- down quote is $330/mo + 10% tax ($363). This is only $3 different than the first dealer's quoted payment, despite $2,000 difference in cap cost.. I used Edmund's lease calculator and came up with a $290/month payment before tax for the $25,429 cap cost deal and advised them so. Waiting to hear from the manager on that one. They claim I must not have considered the "use rate". What is that? I used .00055 money factor. Using the first dealer's numbers, their monthly payment matched Edmunds. All I did for the second dealer calculation was change the cap cost. Am I on the right track here with my numbers?

Michaell

hector89 said:

Michaell said:

hector89 said:

Another offer on same vehicle was with no trade, $5,000 down, 29,484 cap cost, $16,685 residual, MF .00055, and payment was $299.77 I am not aware that either payment included tax. It seems a lot higher where the main difference on the higher offer is the $2000 higher cap cost and cash down v trade, the cash down being $500 more. Is something not right here?

Base MF for the Accord is .00029, 36/12 residual on the V6 Coupe EX-L (no nav) is 52%. With your MSRP and total price, I get a $0 down payment of $350.34/mo pre-tax; add 10% on to that and the payment becomes $385.38.

We do not recommend making a down payment on a lease (either cash or trade equity); if the car is stolen or totaled you lose that money. Save the cash or have the dealer cut you a check for the equity.

Thank you much for that advice. I'd like to clarify the "other" quote above, It was for a Navi car.We'll leave the navi car out of the picture now.
This second dealer now has quoted the V6, manual EX-L non-navi, MSRP 31,595, at CAP Cost $25,429, over $2000 less than the first dealer for the $31,595 car. They claim the invoice price is 27,179, over $2000 less than the first dealer claims for same car. Their 0- down quote is $330/mo + 10% tax ($363). This is only $3 different than the first dealer's quoted payment, despite $2,000 difference in cap cost.. I used Edmund's lease calculator and came up with a $290/month payment before tax for the $25,429 cap cost deal and advised them so. Waiting to hear from the manager on that one. They claim I must not have considered the "use rate". What is that? I used .00055 money factor. Using the first dealer's numbers, their monthly payment matched Edmunds. All I did for the second dealer calculation was change the cap cost. Am I on the right track here with my numbers?

"Use Rate" may be their term for an inflated MF. Using your numbers ($31,595 MSRP and $25,429 cap cost), I calculate a payment, with tax, of $288/mo. Even if I bump the MF to .00055, the payment is still only $300.31 with tax.

Something isn't adding up - I'd reconfirm the net cap cost. There may be some fees being added in that is affecting the payment.

hector89

Thanks again. I'm working on getting them to verify the discrepancy. BTW, one dealer claims to be applying $1250 dealer cash +500 lease cash. The other dealer claims to be only applying $1250 and is not admitting to to a total of $1750 being available to apply to the deal. I don't ask this in order to reconcile the cap cost numbers (I'm sure the one dealer made a simple mistake). It's just that I can't find this cash incentive on Honda's site so I don't know what is really available.

Michaell

hector89 said:

Thanks again. I'm working on getting them to verify the discrepancy. BTW, one dealer claims to be applying $1250 dealer cash +500 lease cash. The other dealer claims to be only applying $1250 and is not admitting to to a total of $1750 being available to apply to the deal. I don't ask this in order to reconcile the cap cost numbers (I'm sure the one dealer made a simple mistake). It's just that I can't find this cash incentive on Honda's site so I don't know what is really available.

I'm only aware of the $500 lease cash.

hector89

Hopefully just one more thing. My auto policy includes GAP insurance. Is this included in the Honda Lease or is it optional? It would help to know if I could save money on this before I end up in the office with the finance manager.

hector89

I looked it up. Leases include gap coverage. Honda Financial does not indicate any non-gap option on their website..

kyfdx

hector89 said:

I looked it up. Leases include gap coverage. Honda Financial does not indicate any non-gap option on their website..

All Honda leases include GAP. You can't decline it.

nellyr914

what is the money factor and residual on accord coupe v6 EX-L

kyfdx

nellyr914 said:

what is the money factor and residual on accord coupe v6 EX-L

.00029 MF and 50% residual. $1750 in total lease/bonus cash.

knittergirl

Hi, new here. Daughter moving to Venice, CA & thinking of leasing a 4 cyl. Accord Coupe EX-L w/Nav in white. I built the car on the Edmunds website and came up with MSRP of $31,090 and a TMV of $28,188. She may be able to get away with 10,000 mi/36 mos.lease since she can walk to work. What's the residual value and money factor and what do your calculations come out to? Thanks so much!!

ral2167

If she can walk to work, why get navigation? Get the exl without navigation for 24 to 25k.

kyfdx

knittergirl said:

Hi, new here. Daughter moving to Venice, CA & thinking of leasing a 4 cyl. Accord Coupe EX-L w/Nav in white. I built the car on the Edmunds website and came up with MSRP of $31,090 and a TMV of $28,188. She may be able to get away with 10,000 mi/36 mos.lease since she can walk to work. What's the residual value and money factor and what do your calculations come out to? Thanks so much!!

.00029 MF and 53% residual for 36mo, 12K/yr (in most area, Honda only goes down to 12K/yr). $1250 dealer cash and $500 bonus lease cash on this model.

$338/mo+tax, if the CAP cost is also $28,188.

While I'm sure your daughter has other places to go, besides work... Getting Navigation on a Honda lease is expensive. Besides the extra cost, the residuals are 2% lower on NAV equipped Accords. When you add up everything, NAV adds about $35-$40/month to your lease cost.

Also, I'd assume you can get a better deal than TMV on an Accord, especially with the $1750 of incentives.

knittergirl

Moving from East Coast, so navigation is necessary in an unfamiliar area.

knittergirl

Thanks for the help!

ral2167

Buy a Garmin for 100 bucks.

kyfdx

ral2167 said:

Buy a Garmin for 100 bucks.

I agree with that...

trevj0322

what is the money factor and residual on accord sedan manual EX?

stickguy

Hey, I just bought a Garmin tonight. For $99.99! A nice 5.5" one. Lifetime maps. Definitely a better value than paying $40/month.

Not for me. B'day gift for my son, since his old one seems to be dying. Not worth much when it takes 15 minutes to acquire sats, and 2 minutes to "recalculate"!

kyfdx

trevj0322 said:

what is the money factor and residual on accord sedan manual EX?

.00029 MF and 55% residual for 36mo, 15K/yr. $1000 total lease cash.

dafortworth

Accord Sport, looking for MF and residual for 36mo 18k/yr. Saw the post above that stated $1000 lease cash, is that also for the sport? I am about $1000 upside down with my trade in, maybe more. Trying to stay under $300 a month. Is this possible? $280 would be PERFECT. Buying in Dallas TX.

kyfdx

dafortworth said:

Accord Sport, looking for MF and residual for 36mo 18k/yr. Saw the post above that stated $1000 lease cash, is that also for the sport? I am about $1000 upside down with my trade in, maybe more. Trying to stay under $300 a month. Is this possible? $280 would be PERFECT. Buying in Dallas TX.

.00029 MF and 54% residual for 36mo, 15K/yr. 18K/yr is going to reduce the residual by $900 or $1350, depending on the per/mile rate.

$1000 lease cash is good for the Sport, too.

No idea what your payment would be, without knowing the MSRP and selling price.

limitbreak

Hello,

What are the Residuals, MF, dealer cash and lease cash on the 2015 Accord Coupe EX-L and also the LX-S for 12K/36m ?

I was quoted $21,181 on the LX-S and $24,746 on the EX-L in Corona, CA.

Thank you.

kyfdx

limitbreak said:

Hello,

What are the Residuals, MF, dealer cash and lease cash on the 2015 Accord Coupe EX-L and also the LX-S for 12K/36m ?

I was quoted $21,181 on the LX-S and $24,746 on the EX-L in Corona, CA.

Thank you.

.00029 MF and $1750 total lease cash on coupes.

55% residual on LX-S
53% residual on EX-L

dafortworth

kyfdx said:

dafortworth said:

Accord Sport, looking for MF and residual for 36mo 18k/yr. Saw the post above that stated $1000 lease cash, is that also for the sport? I am about $1000 upside down with my trade in, maybe more. Trying to stay under $300 a month. Is this possible? $280 would be PERFECT. Buying in Dallas TX.

.00029 MF and 54% residual for 36mo, 15K/yr. 18K/yr is going to reduce the residual by $900 or $1350, depending on the per/mile rate.

$1000 lease cash is good for the Sport, too.

No idea what your payment would be, without knowing the MSRP and selling price.

MSRP is $25,485, selling price is 21,861.97. And about $1000 upside down on my trade in.

limitbreak

kyfdx said:

limitbreak said:

Hello,

What are the Residuals, MF, dealer cash and lease cash on the 2015 Accord Coupe EX-L and also the LX-S for 12K/36m ?

I was quoted $21,181 on the LX-S and $24,746 on the EX-L in Corona, CA.

Thank you.

.00029 MF and $1750 total lease cash on coupes.

55% residual on LX-S
53% residual on EX-L

Thanks, Norm Reeves Honda in HB is now claiming they don't have EX-L in stock all of the sudden when I quoted them these values and calculated according to their certificate price on edmund's, and they are saying the payment would be $314 and $695 drive off

But the Edmund's certificate they emailed me was for 24,077 including $80 processing and with your numbers it should be $234 monthly including Tax or $217 without

But they are not honoring it, maybe edmund's should change the certificate structure.

dafortworth

Wonder if you are better off ordering one limit, I am wondering the same for me. They are all playing "dealer add on" shenanegans at the last minute when I asked straight from the start what the price was....WITH the add ons. Dealer is adding nearly 4k in crap I dont need. And its early in the month so nobody wants to give me much for my trade at this point. Im gettin frustrated.

limitbreak

dafortworth said:

Wonder if you are better off ordering one limit, I am wondering the same for me. They are all playing "dealer add on" shenanegans at the last minute when I asked straight from the start what the price was....WITH the add ons. Dealer is adding nearly 4k in crap I dont need. And its early in the month so nobody wants to give me much for my trade at this point. Im gettin frustrated.

The Online manager just emailed me now:

" There is no $1,750 lease cash. The price that you received included any lease cash that Honda has. "

But the edmund's certificate was for the discount off MSRP only and does not include lease cash, right ?!

stickguy

read the fine print. It probably includes any customer rebates already.

ral2167

If exl's can be leased for $217 pre tax with no money down, then there wouldn't be any exl's to lease. Expect to pay about 280 to 310 a month with tax depending on various circumstances for an exl 4 cylinder. You're dreaming to get one for 217 before tax with no money down. Am I  nuts? Plus the blind spot deal on the accord is screwy. Just get some indicator lights on the mirrors, Honda, like every one else. Please.

dafortworth

Not sure how accurate it is, but First Texas Honda has a pretty straight forward lease calculator. I pick the Accord I want, it flat out will tell you there are NO dealer add on's, and when you click the lease configuration tool it includes taxes, doc, delivery and aquisition fees. I am still seeing better rates with the guys on this forum though.

limitbreak

ral2167 said:

If exl's can be leased for $217 pre tax with no money down, then there wouldn't be any exl's to lease. Expect to pay about 280 to 310 a month with tax depending on various circumstances for an exl 4 cylinder. You're dreaming to get one for 217 before tax with no money down. Am I  nuts? Plus the blind spot deal on the accord is screwy. Just get some indicator lights on the mirrors, Honda, like every one else. Please.

When the dealership advertises $5000 off on the EX-L then you can. At true car you can choose if there is an incentive or not, and even with that it is not accurate.

They need to have a different certificate for leasing on Edmund's then, as this is deceiving!

ereyes562

Does anyone mind sharing the residuals for the following:

Accord Sport (all 12K miles)
36 Months
27 Months
24 Months


Thanks a million!

driveer1

Just got the rates for accord sport lease- $260 for 36/12k incl. tax, first month payment and dmv fees upfront around 650-700. Is this a good deal.?

ereyes562

driveer1 said:

Just got the rates for accord sport lease- $260 for 36/12k incl. tax, first month payment and dmv fees upfront around 650-700. Is this a good deal.?

I've gotten $245 with 1K out of pocket at 12k/36mi. Just email dealers and they will agree with that price.

driveer1

ereyes562 said:

driveer1 said:

Just got the rates for accord sport lease- $260 for 36/12k incl. tax, first month payment and dmv fees upfront around 650-700. Is this a good deal.?

I've gotten $245 with 1K out of pocket at 12k/36mi. Just email dealers and they will agree with that price.

That's the best I could get from the dealers with 8.75% tax and 1k down is coming down to $250. what is your sales tax.

ereyes562

driveer1 said:

driveer1 said:

Just got the rates for accord sport lease- $260 for 36/12k incl. tax, first month payment and dmv fees upfront around 650-700. Is this a good deal.?

I've gotten $245 with 1K out of pocket at 12k/36mi. Just email dealers and they will agree with that price.

That's the best I could get from the dealers with 8.75% tax and 1k down is coming down to $250. what is your sales tax.

9%

kyfdx

ereyes562 said:

Does anyone mind sharing the residuals for the following:

Accord Sport (all 12K miles)
36 Months
27 Months
24 Months


Thanks a million!

56%
62%
63%

36 months is definitely the sweet spot

ereyes562

kyfdx said:

Does anyone mind sharing the residuals for the following: Accord Sport (all 12K miles) 36 Months 27 Months 24 Months Thanks a million!

56% 62% 63% 36 months is definitely the sweet spot

Assuming 36 months is 63%, correct?

kyfdx

ereyes562 said:

kyfdx said:

ereyes562 said:

Does anyone mind sharing the residuals for the following:

Accord Sport (all 12K miles)
36 Months
27 Months
24 Months


Thanks a million!

56%
62%
63%

36 months is definitely the sweet spot

Assuming 36 months is 63%, correct?

No.... 56% is 36 months

ereyes562

kyfdx said:

kyfdx said:

Does anyone mind sharing the residuals for the following: Accord Sport (all 12K miles) 36 Months 27 Months 24 Months Thanks a million!

56% 62% 63% 36 months is definitely the sweet spot

Assuming 36 months is 63%, correct?

No.... 56% is 36 months

Dang, and I was under the impression that the higher the residual, the lower the payment. Goes to show how much I know lol

stickguy

all other things the same, higher residual does mean lower payment. But it changes with the longer term. 36 months normally will be lower than 24. Keep in mind that it is depreciation/months that counts.

ereyes562

stickguy said:

all other things the same, higher residual does mean lower payment. But it changes with the longer term. 36 months normally will be lower than 24. Keep in mind that it is depreciation/months that counts.

So then doesn't that mean the 36 month residual is 63%, as it's the highest? Sorry, noob here

stickguy

it is the other way around. The residual is how much the car will be worth at the end of the period. in this case, 63% after 24 months. so after another 12 months, it is 56% (so basically it only depreciates another 7% in the 3rd year.

if the car has a MSRP of $10,000, after 24 months it would be worth $6,300 (depreciation of $3,700). but at the end of year 3, it is worth $5,600. So that 3rd year, it only depreciates another $700, which is very little, and is why doing the lease for 3 years becomes a lot cheaper per month.

Michaell

stickguy said:

it is the other way around. The residual is how much the car will be worth at the end of the period. in this case, 63% after 24 months. so after another 12 months, it is 56% (so basically it only depreciates another 7% in the 3rd year.

if the car has a MSRP of $10,000, after 24 months it would be worth $6,300 (depreciation of $3,700). but at the end of year 3, it is worth $5,600. So that 3rd year, it only depreciates another $700, which is very little, and is why doing the lease for 3 years becomes a lot cheaper per month.

Thanks for the assist!

ereyes562

You guys are awesome, thanks for clarifying

zanc7

Michaell,

Is it standard to roll Acquistion Fees, and Surplus Cash into the lease payment? The dealer states that the $595 acquistion fee and $69.28 surplus cash is standard.

Thanks,