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,
It's your choice to add them to the cap cost or pay them up front. Me? I'd prefer to keep my initial cash outlay as small as possible - I got away with only the first month's payment on my Hyundai lease. Lease cash took care of the rest.
Thanks guys. It looks like it would add $12-$13 to the monthly. BTW, what is the current lease cash on an Accord in CA? Wonder if they are including that in the discount to the selling price? Or is it separate?
Thanks guys. It looks like it would add $12-$13 to the monthly. BTW, what is the current lease cash on an Accord in CA? Wonder if they are including that in the discount to the selling price? Or is it separate?
You can bet they've already accounted for any lease cash in their quote... Unless you expect to get in the finance office and have the guy say, "Oh, by the way..here is another $1000 off!".
Lease cash depends on the model... Either $1000 or $1750, depending.
What is your opinion on leasing a USED certified Accord with low miles? Residual should be lower right? Just wondering if that is an option cause these dealerships aren't offering me anything for my 13 Altima and I am trying to keep payments low.
What is your opinion on leasing a USED certified Accord with low miles? Residual should be lower right? Just wondering if that is an option cause these dealerships aren't offering me anything for my 13 Altima and I am trying to keep payments low.
You won't get a good lease deal on a used Honda... they just don't have the factory support.
a dealer near-by has the following offer advertised:
*Model #CR2F3FEW, 4 dr, 4 cyl, auto trans, p/s/b, MSRP $23,695. $.0 cap cost red. + $149 first month's payment + $0 sec dep + $595 bank fee = $744 due at signing. Ttl Pmt/Residual/ttl cost: $5,364/14,217/$5,959. Zero capitalized cost reduction, just taxes and fees. Prices include all costs to the consumer, except for tax, license, title, fees, etch, and any dealer-installed options. 10k mi/yr, .20 per mi over. 36 month lease. Offer expires 05-31-15
a dealer near-by has the following offer advertised:
*Model #CR2F3FEW, 4 dr, 4 cyl, auto trans, p/s/b, MSRP $23,695. $.0 cap cost red. + $149 first month's payment + $0 sec dep + $595 bank fee = $744 due at signing. Ttl Pmt/Residual/ttl cost: $5,364/14,217/$5,959. Zero capitalized cost reduction, just taxes and fees. Prices include all costs to the consumer, except for tax, license, title, fees, etch, and any dealer-installed options. 10k mi/yr, .20 per mi over. 36 month lease. Offer expires 05-31-15
should i expected additional $$ due at signing ?
Well.. that offer expired on 05-31-15..
But, yes.. expect more due at signing, or a higher payment.
Prices include all costs to the consumer, except for tax, license, title, fees, etch, and any dealer-installed options.
All of that could be a few hundred or a few thousand dollars.. You won't know until you ask.
thank you kyfdx - they did say that the offer is still valid. However, I was concerned about the same sentence that you've highlighted above. Will talk and see what happens - thanks again.
I'm having a tough time grasping these Residuals and MFs. The rates I found on Cars.com are not matching what the dealership just showed me on the Honda Incentives sheet dated 5/12-7/7. I had 52% and .002992, but they're offering 51% and .0029.
We were thinking of the V6 Hybrid Touring Sedan, but the trunk space is just not a possibility for us. We really like the Touring model, but we're at least open to a V6 EX-L without Nav if the cost savings are worthwhile. We're in Louisiana (zip is 70301, tax rate is 8.9%) and we need the vehicle to be below $400/month with zero out of pocket.
Offer we just received from one dealership for a non-hybrid Touring (that they would have to order from another dealership) was as follows: $34,450 MSRP $30,686 Sale Price 51% Residual (seems low, no?) .0029 MF 8.9% Tax $500 American Honda Finance Cash (Down Payment) $500 Military Cash (Down Payment) 1st month paid $430.09/Month for 35 months
My calculator is spitting out $406.25. I'm not sure how I'm not accounting for $25....either my calculator is off or they're sneaking something in and lying about it.
I'm about to contact another dealership that has a V6 EX-L without Nav in stock, but I need to know the current Residual and MF on that vehicle before I even start negotiating with them. The figures I found on Cars.com are 55% and .002992, but that may have been for April. Can someone help me figure this out please? Thank you SO much in advance!
I'm having a tough time grasping these Residuals and MFs. The rates I found on Cars.com are not matching what the dealership just showed me on the Honda Incentives sheet dated 5/12-7/7. I had 52% and .002992, but they're offering 51% and .0029.
We were thinking of the V6 Hybrid Touring Sedan, but the trunk space is just not a possibility for us. We really like the Touring model, but we're at least open to a V6 EX-L without Nav if the cost savings are worthwhile. We're in Louisiana (zip is 70301, tax rate is 8.9%) and we need the vehicle to be below $400/month with zero out of pocket.
Offer we just received from one dealership for a non-hybrid Touring (that they would have to order from another dealership) was as follows: $34,450 MSRP $30,686 Sale Price 51% Residual (seems low, no?) .0029 MF 8.9% Tax $500 American Honda Finance Cash (Down Payment) $500 Military Cash (Down Payment) 1st month paid $430.09/Month for 35 months
My calculator is spitting out $406.25. I'm not sure how I'm not accounting for $25....either my calculator is off or they're sneaking something in and lying about it.
I'm about to contact another dealership that has a V6 EX-L without Nav in stock, but I need to know the current Residual and MF on that vehicle before I even start negotiating with them. The figures I found on Cars.com are 55% and .002992, but that may have been for April. Can someone help me figure this out please? Thank you SO much in advance!
Why are my comments under moderation? I keep getting a notification that my comment will appear after it is approved. What gives? Is it because it has a lot of text in it? I pasted a copy of my Excel table, but just the text appeared.
I received a call back from the Finance Manager and she seemed rather annoyed and done with me. She actually told me this is their best and final offer, and thanks for my consideration. I wasn't rude or anything; just was asking what the figures were and how she got there. All she told me was that she didn't know how she got there; she just entered the numbers into the computer and that's what it gave her.
Using the Net Cap Cost she gave me, I punched in the numbers to my Excel sheet and had to play with the "Doc & Dealer Fees" number to get the net cap cost correct. I'm pretty disappointed in the 51% Residual, although that factor alone only contributes $10 to the monthly cost. Someone help me out here before I contact a bigger dealership in Baton Rouge. Is this a good deal? It seems high to me.
Must be just the table that's not posting. I'll try it this way. Sticker Price $34,450.00 Sale Price $30,969.00 Net Cap Cost $31,277.16 Lease Term (Months) 36 Residual Rate 51.0% Residual Value $17,569.50 Depreciation Over Term $13,707.66 Total Tax $1,219.98 Down Payment $1,000.00 Monthly Depreciation Payment $380.77 Money Factor 0.0002992 APR (%) 0.72 Total Interest $522.82 Monthly Interest $14.52 Acquisition Fee $595.00 Doc & Dealer Fees $651.16 Title & License Fees $62.00 Total Fees $1,308.16 Monthly Tax $35.18 Total Monthly Payment $430.47
If the Touring is this bad of a deal, what are the residuals on the EX-L V6 with Nav and without? My wife really wants the Nav.
off the top, seems a bit high, but I did not try and plug in all your numbers into the spreadsheet I have (though I tend to come out a little bit off doing that, usually in the $10/mo range).
It should be easy enough to tell you the numbers on the sheet, but she is probably telling the truth that she has no idea how it was calculated, and that is what the computer spit out!
as usual, a 2nd opinion is always a good idea when you aren't sure. Easy enough to find another dealer and get a quote on the same model.
Must be just the table that's not posting. I'll try it this way. Sticker Price $34,450.00 Sale Price $30,969.00 Net Cap Cost $31,277.16 Lease Term (Months) 36 Residual Rate 51.0% Residual Value $17,569.50 Depreciation Over Term $13,707.66 Total Tax $1,219.98 Down Payment $1,000.00 Monthly Depreciation Payment $380.77 Money Factor 0.0002992 APR (%) 0.72 Total Interest $522.82 Monthly Interest $14.52 Acquisition Fee $595.00 Doc & Dealer Fees $651.16 Title & License Fees $62.00 Total Fees $1,308.16 Monthly Tax $35.18 Total Monthly Payment $430.47
If the Touring is this bad of a deal, what are the residuals on the EX-L V6 with Nav and without? My wife really wants the Nav.
Money factor is just .00029, not .0002992.
This is 12K/yr, right?
V6-EXL with NAV is 52%, V6-EXL is 54%.
That's about $10/mo. and $30/mo. cheaper than the Touring.
Thanks so much for the response! I just heard back from the Baton Rouge dealership and they just gave me those residuals. I think we're gonna go with the V6 with Nav. This dealership participates in the Edmunds certificate program and they're discounting the vehicle to $28,228. That's a pretty good discount and I'm happy with it.
Okay I got a call back from the Finance Manager, and she seemed very annoyed with me. She said this is their best and final offer, and thanks for my consideration. She sounded pretty much done with me. Here's what my Excel calculator is giving me:
Sticker Price $34,450.00 Sale Price $30,969.00 Net Cap Cost $31,277.16 Lease Term (Months) 36 Residual Rate 51.0% Residual Value $17,569.50 Depreciation Over Term $13,707.66 Total Tax $1,219.98 Down Payment $1,000.00 Monthly Depreciation Payment $380.77 Money Factor 0.0002992 APR (%) 0.72 Total Interest 522.82 Monthly Interest $14.52 Acquisition Fee $595.00 Doc & Dealer Fees $651.16 Title & License Fees $62.00 Total Fees $1,308.16 Monthly Tax $35.18 Total Monthly Payment $430.47
I had to inflate the "Doc & Dealer Fees" to that number to get to the net cap cost she quoted me over the phone. Again, this is for a 2015 Honda Accord Touring Sedan that they do not have on the lot. I'd like to try a larger dealership in Baton Rouge that has what I'm looking for on the lot and see what they give me.
Does this deal actually look like a good deal though? I thought for sure I could get in one of these for under $400/mo., and with a 52% residual, that could have happened. I guess I'm most disappointed in the residual 51%. But is that for sure what's out there for a touring right now? If so, then we'll probably go with a V6 EX-L with Nav and just forgo the ACC & LED headlights just to get a 53-54% residual....so what is the current residual on those?
I would consider other options. If you go the the Economy Honda website (http://www.economyhonda.com/new-inventory) they have new Accord Sport's for as little as $20,292 on their website. That's around $1700 savings. Could buy a 1-way plane ticket, pick the car up and drive it home provided you are within a reasonable distance of Chattanooga, TN and still save over $1000.
Has all the numbers available for all Honda Cars & SUVS. If you click 'detailed view', you can see residuals, selling price, money factor, cash due at signing, sales tax, etc. Very, very useful site. A must for anyone leasing a Honda IMO.
Hey guys, I just want to preface this with the fact that I'm a first time car buyer. I had a horrible experience with some dealership psychology and sales tactics.
Quick version: 2015 EX CVT - 36 month lease with 12k miles per year - $3800 down including all TTL, additions and first month's payment - $211.89/month for 35 months with Sentinel care package (before the care package was added the terms were $3800 down, $210/month). RV was 57%.
Long version: I live in the DFW metroplex, and the best deal I could find for an Accord was the LX for $137/month and $0 down excluding TTL and fees for additions.
I wanted the 2015 EX CVT model for the moonroof and upgraded speakers, and after looking at the differences in MSRP, found that there was around a $2000 difference between the LX and EX models. This equated to about a $60 increase in monthly lease payments over the LX. So the deal I came to the table with was- $0 down, $0 TTL and $200/month for the 2015 EX CVT Sedan without navigation (not sure if you can even get an EX with navigation). The lease terms were 36 months with 12k miles per year.
They came back with a bunch of numbers trying to show me how with an increase in TTL and additions, the price would actually be around $365/month with $0 down, obviously far too high.
Residual value was 57%, and the MSRP of the car with destination fees was $26,650 ($25,830 MSRP and $820 destination fees). Additions to the car totaled around $1900 (stuff I couldn't negotiate like pre-tinting windows, adding a stripe to the side, bumper guards), TTL was $1665.625 and other fees were around $700 total.
At this point they said that was the final offer and that they couldn't budge, so I was ready to walk out. Then the sales guy told us to offer what we thought would be a reasonable price.
Here is where I think I made my first mistake.
I said $3800 down, including first payment with $200/month for the next 35 months inclusive of TTL and all other fees. This seemed reasonable because I calculated the residual value after 3 years of the car to be $15190.50, which meant the car depreciated $11.459.50 over the 3 years.
They came back with $3800 down and $237/month, and I told them I wouldn't budge from my number.
They came back with $3800 down and $210/month inclusive of all TTL and other costs, and I did some calculations which basically looked like this: $3800 + $210*35 = $11,150.
This is where I think I made my second mistake.
I assumed that because I was lower than the depreciation cost of the car that I was getting a good deal. To the more seasoned car buyers, was I wrong?
The rest of the deal was annoying because I had to sit with a racist and hotheaded finance manager who pushed the sentinel care package on at $238/month, and I adamantly refused any increase in cost until he brought it down to $211.89/month.
So the final deal was 36 month lease with 12k miles per year, $3800 down including all TTL, additions and first month's payment, $211.89/month for 35 months with Sentinel care package.
How did I do? What could I have done better? Any advice is appreciated.
1. The down payment was too much. 2. Sounds like you were more interested in what the monthly payment was as opposed to cap cost, residual, money factor. 3. Pin stripes, bumper guards, sentinel care ? Sounds like pure profit items for dealer. 4. I went to a lease calculator and punched in the msrp, took 3000 off for the selling price, plugged in .00029, a 3800 down so 0 tax, and 57% residual, and got a payment around $160.
My advice. . Next time, don't do what you did this time. If others differ, please advise.
1. The down payment was too much. 2. Sounds like you were more interested in what the monthly payment was as opposed to cap cost, residual, money factor. 3. Pin stripes, bumper guards, sentinel care ? Sounds like pure profit items for dealer. 4. I went to a lease calculator and punched in the msrp, took 3000 off for the selling price, plugged in .00029, a 3800 down so 0 tax, and 57% residual, and got a payment around $160.
My advice. . Next time, don't do what you did this time. If others differ, please advise.
I answered this post in another thread it was put into - but, similar thoughts. Overall, it was a good lease deal, given that approximately $2400 of the $3800 was for taxes and other up front fees (leasing in Texas is expensive).
next time, find a different dealer to work with. There are good ones out there. If you end up in a place that gives you the willies, walk out and go elsewhere.
Leasing noob here , have never leased a car. In the market for an Accord LX - 2015. Got the promotional July 4th sale email from one of the dealers in my area(VA) for a 12K miles/year 3 year lease with $0 due at signing, $0 down payment, $0 first month's payment, $0 security deposit and $167/mo for 35 months thereafter. The MSRP for the car is $23,725
Before going into the dealership I want to ask the experts on this board.
1. What should I look for once I go in the dealership ? Any catch etc.? 2. I have downloaded some excel calculators from the web to understand the leasing terminologies etc. What should I ask them (Residual Value, Money Factor, Dealer acquisition fee etc) 3. Just like the 2 year Toyota maintenance plan , is there something similar from Honda ? 4. If the above offer is true (and I qualify) my guess is that I would have to pay the following only before walking out of the dealership - Tax(4.1%=$973), title, tags (probably another $100) etc 5. Any information to help me before I walk in the dealership would be very helpful ?
At that price, ask for the papers to sign before they run out of cars. You can review the terms if you want, but knowing that they are coming in below market you are already ahead of the game!
Yes, you are correct that you will still have to pay fees and tax. Just make sure they are not padding that. The other item that sometimes is not included in their featured price is the bank fee (I think $699? for Honda). if not, you either will add another $20/mo, or pay that up front too.
no real point in getting the maintenance plan. the only thing it will call for during the lease term is an oil change every 7,500-10,000 miles with a tire rotation every other service. Honda dealers are very competitive on that, and always run coupons for $25-$35 for the express 1 hour service.
At that price, ask for the papers to sign before they run out of cars. You can review the terms if you want, but knowing that they are coming in below market you are already ahead of the game!
Yes, you are correct that you will still have to pay fees and tax. Just make sure they are not padding that. The other item that sometimes is not included in their featured price is the bank fee (I think $699? for Honda). if not, you either will add another $20/mo, or pay that up front too.
no real point in getting the maintenance plan. the only thing it will call for during the lease term is an oil change every 7,500-10,000 miles with a tire rotation every other service. Honda dealers are very competitive on that, and always run coupons for $25-$35 for the express 1 hour service.
At that price, ask for the papers to sign before they run out of cars. You can review the terms if you want, but knowing that they are coming in below market you are already ahead of the game!
Yes, you are correct that you will still have to pay fees and tax. Just make sure they are not padding that. The other item that sometimes is not included in their featured price is the bank fee (I think $699? for Honda). if not, you either will add another $20/mo, or pay that up front too.
no real point in getting the maintenance plan. the only thing it will call for during the lease term is an oil change every 7,500-10,000 miles with a tire rotation every other service. Honda dealers are very competitive on that, and always run coupons for $25-$35 for the express 1 hour service.
Found the fine print , you were right there is a processing fee of $599
"2015 Accord LX Sedan MSRP $23,725. Lease excludes tax, title, license and $599 dealer processing, on approved HFS Super Preferred or Preferred credit. Mileage charge of $0.15/mile over 12,000 miles/year for vehicles with an MSRP under $30,000 and $0.20/mile for vehicles $30,000 and over. Offer valid through 7/6/15. All financing on approved HFS Super Preferred credit. Example 0.0% APR is a dealer buydown rate for 60 months with monthly payments of $16.67 per $1000 financed. May not be combined with other offers, internet prices or USAA/True Car or internet price quotes. Offer valid through 7/6/15. "
LX-S coupe residual value, mf and any cash 36/12 in CA EX-L coupe residual value, mf and any cash 36/12 in CA
Thank You, Thank You!
.00029 MF and $1500 lease cash.
55% residual for LX-S, 53% residual for EX-L
I have internet offers for both cars above. Any advice?
I'm turning in my 2012 3 yr lease in on a lx coupe, and I think I may have had made an off deal 3 yrs ago. I have low miles @ 22000, and my trade in value is breaking even to what I owe in excellent condition. Because I don't know what I'm doing, I want to make sure this next lease is a really good one. I really appreciate this forum, Thank You!
4th of July Sale Offers good until Monday - I'm in CA:
2015 Honda Accord LX-S Coupe (image attached is revised with $609 due at signing. Cap cost is higher than selling, is this a problem?) $25,445 MSRP $21,180 4th of July Sale Price** $246mo (includes taxes and fees $609 due at signing) $265mo (includes taxes and fees)
2015 Honda Accord EX-L Coupe (waiting for lease breakdown) $29,315 MSRP $24,946 4th of July Sale Price**
** Your price quote is valid for 48 hours and does not include Dealer Installed Accessories, Tax, License, or Doc Fees. We reserve the right to modify this quote to correct arithmetic errors. Incentive and pricing programs are subject to change by the Manufacturer without notice. Quoted price includes destination and delivery fees.
LX-S coupe residual value, mf and any cash 36/12 in CA EX-L coupe residual value, mf and any cash 36/12 in CA
Thank You, Thank You!
.00029 MF and $1500 lease cash.
55% residual for LX-S, 53% residual for EX-L
I have internet offers for both cars above. Any advice?
I'm turning in my 2012 3 yr lease in on a lx coupe, and I think I may have had made an off deal 3 yrs ago. I have low miles @ 22000, and my trade in value is breaking even to what I owe in excellent condition. Because I don't know what I'm doing, I want to make sure this next lease is a really good one. I really appreciate this forum, Thank You!
4th of July Sale Offers good until Monday - I'm in CA:
2015 Honda Accord LX-S Coupe (image attached is revised with $609 due at signing. Cap cost is higher than selling, is this a problem?) $25,445 MSRP $21,180 4th of July Sale Price** $246mo (includes taxes and fees $609 due at signing) $265mo (includes taxes and fees)
2015 Honda Accord EX-L Coupe (waiting for lease breakdown) $29,315 MSRP $24,946 4th of July Sale Price**
** Your price quote is valid for 48 hours and does not include Dealer Installed Accessories, Tax, License, or Doc Fees. We reserve the right to modify this quote to correct arithmetic errors. Incentive and pricing programs are subject to change by the Manufacturer without notice. Quoted price includes destination and delivery fees.
Your net CAP is the selling price plus the acquisition fee. Your CAP can't be lower than the selling price, unless you are making a downpayment.
LX-S coupe residual value, mf and any cash 36/12 in CA EX-L coupe residual value, mf and any cash 36/12 in CA
Thank You, Thank You!
.00029 MF and $1500 lease cash.
55% residual for LX-S, 53% residual for EX-L
I have internet offers for both cars above. Any advice?
I'm turning in my 2012 3 yr lease in on a lx coupe, and I think I may have had made an off deal 3 yrs ago. I have low miles @ 22000, and my trade in value is breaking even to what I owe in excellent condition. Because I don't know what I'm doing, I want to make sure this next lease is a really good one. I really appreciate this forum, Thank You!
4th of July Sale Offers good until Monday - I'm in CA:
2015 Honda Accord LX-S Coupe (image attached is revised with $609 due at signing. Cap cost is higher than selling, is this a problem?) $25,445 MSRP $21,180 4th of July Sale Price** $246mo (includes taxes and fees $609 due at signing) $265mo (includes taxes and fees)
2015 Honda Accord EX-L Coupe (waiting for lease breakdown) $29,315 MSRP $24,946 4th of July Sale Price**
** Your price quote is valid for 48 hours and does not include Dealer Installed Accessories, Tax, License, or Doc Fees. We reserve the right to modify this quote to correct arithmetic errors. Incentive and pricing programs are subject to change by the Manufacturer without notice. Quoted price includes destination and delivery fees.
Your net CAP is the selling price plus the acquisition fee. Your CAP can't be lower than the selling price, unless you are making a downpayment.
The numbers and calculations are correct.
They want me to pay $609.83, is this not considered a down payment? Do you think this is a good lease? Thanks!
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Lease cash depends on the model... Either $1000 or $1750, depending.
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*Model #CR2F3FEW, 4 dr, 4 cyl, auto trans, p/s/b, MSRP $23,695. $.0 cap cost red. + $149 first month's payment + $0 sec dep + $595 bank fee = $744 due at signing. Ttl Pmt/Residual/ttl cost: $5,364/14,217/$5,959. Zero capitalized cost reduction, just taxes and fees. Prices include all costs to the consumer, except for tax, license, title, fees, etch, and any dealer-installed options. 10k mi/yr, .20 per mi over. 36 month lease. Offer expires 05-31-15
should i expected additional $$ due at signing ?
But, yes.. expect more due at signing, or a higher payment.
Prices include all costs to the consumer, except for tax, license, title, fees, etch, and any dealer-installed options.
All of that could be a few hundred or a few thousand dollars.. You won't know until you ask.
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However, I was concerned about the same sentence that you've highlighted above. Will talk and see what happens - thanks again.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I'm having a tough time grasping these Residuals and MFs. The rates I found on Cars.com are not matching what the dealership just showed me on the Honda Incentives sheet dated 5/12-7/7. I had 52% and .002992, but they're offering 51% and .0029.
We were thinking of the V6 Hybrid Touring Sedan, but the trunk space is just not a possibility for us. We really like the Touring model, but we're at least open to a V6 EX-L without Nav if the cost savings are worthwhile. We're in Louisiana (zip is 70301, tax rate is 8.9%) and we need the vehicle to be below $400/month with zero out of pocket.
Offer we just received from one dealership for a non-hybrid Touring (that they would have to order from another dealership) was as follows:
$34,450 MSRP
$30,686 Sale Price
51% Residual (seems low, no?)
.0029 MF
8.9% Tax
$500 American Honda Finance Cash (Down Payment)
$500 Military Cash (Down Payment)
1st month paid
$430.09/Month for 35 months
My calculator is spitting out $406.25. I'm not sure how I'm not accounting for $25....either my calculator is off or they're sneaking something in and lying about it.
I'm about to contact another dealership that has a V6 EX-L without Nav in stock, but I need to know the current Residual and MF on that vehicle before I even start negotiating with them. The figures I found on Cars.com are 55% and .002992, but that may have been for April. Can someone help me figure this out please? Thank you SO much in advance!
Oh btw, this is where I'm getting my residuals and MF from. So if someone has a better/more current link, I'd really appreciate it.
http://www.cars.com/go/alg/index.jsp?makename=Honda&modelname=ACCORD+SEDAN&year=2015
That will make a huge difference in your calculations..
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Any advice for me?
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Using the Net Cap Cost she gave me, I punched in the numbers to my Excel sheet and had to play with the "Doc & Dealer Fees" number to get the net cap cost correct. I'm pretty disappointed in the 51% Residual, although that factor alone only contributes $10 to the monthly cost. Someone help me out here before I contact a bigger dealership in Baton Rouge. Is this a good deal? It seems high to me.
Sticker Price $34,450.00
Sale Price $30,969.00
Net Cap Cost $31,277.16
Lease Term (Months) 36
Residual Rate 51.0%
Residual Value $17,569.50
Depreciation Over Term $13,707.66
Total Tax $1,219.98
Down Payment $1,000.00
Monthly Depreciation Payment $380.77
Money Factor 0.0002992
APR (%) 0.72
Total Interest $522.82
Monthly Interest $14.52
Acquisition Fee $595.00
Doc & Dealer Fees $651.16
Title & License Fees $62.00
Total Fees $1,308.16
Monthly Tax $35.18
Total Monthly Payment $430.47
If the Touring is this bad of a deal, what are the residuals on the EX-L V6 with Nav and without? My wife really wants the Nav.
It should be easy enough to tell you the numbers on the sheet, but she is probably telling the truth that she has no idea how it was calculated, and that is what the computer spit out!
as usual, a 2nd opinion is always a good idea when you aren't sure. Easy enough to find another dealer and get a quote on the same model.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
This is 12K/yr, right?
V6-EXL with NAV is 52%, V6-EXL is 54%.
That's about $10/mo. and $30/mo. cheaper than the Touring.
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Thanks so much for the response! I just heard back from the Baton Rouge dealership and they just gave me those residuals. I think we're gonna go with the V6 with Nav. This dealership participates in the Edmunds certificate program and they're discounting the vehicle to $28,228. That's a pretty good discount and I'm happy with it.
Sticker Price $34,450.00
Sale Price $30,969.00
Net Cap Cost $31,277.16
Lease Term (Months) 36
Residual Rate 51.0%
Residual Value $17,569.50
Depreciation Over Term $13,707.66
Total Tax $1,219.98
Down Payment $1,000.00
Monthly Depreciation Payment $380.77
Money Factor 0.0002992
APR (%) 0.72
Total Interest 522.82
Monthly Interest $14.52
Acquisition Fee $595.00
Doc & Dealer Fees $651.16
Title & License Fees $62.00
Total Fees $1,308.16
Monthly Tax $35.18
Total Monthly Payment $430.47
I had to inflate the "Doc & Dealer Fees" to that number to get to the net cap cost she quoted me over the phone. Again, this is for a 2015 Honda Accord Touring Sedan that they do not have on the lot. I'd like to try a larger dealership in Baton Rouge that has what I'm looking for on the lot and see what they give me.
Does this deal actually look like a good deal though? I thought for sure I could get in one of these for under $400/mo., and with a 52% residual, that could have happened. I guess I'm most disappointed in the residual 51%. But is that for sure what's out there for a touring right now? If so, then we'll probably go with a V6 EX-L with Nav and just forgo the ACC & LED headlights just to get a 53-54% residual....so what is the current residual on those?
Sale Price $30,969.00
Net Cap Cost $31,277.16
Lease Term (Months) 36
Residual Rate 51.0%
Residual Value $17,569.50
Depreciation Over Term $13,707.66
Total Tax $1,219.98
Down Payment $1,000.00
Monthly Depreciation Payment $380.77
Money Factor 0.0002992
APR (%) 0.72
Total Interest 522.82
Monthly Interest $14.52
Acquisition Fee $595.00
Doc & Dealer Fees $651.16
Title & License Fees $62.00
Total Fees $1,308.16
Monthly Tax $35.18
Total Monthly Payment $430.47
If the Touring is this bad of a deal, what are the residuals on the EX-L V6 with Nav and without? My wife really wants the Nav.
2015 Accord Sport
Gross Cap cost = 21957 (includes $250 some security system)
Acq Fees = 595
Total = 22552
Residual = 14271
MF=.00029
License / Reg/ First Month etc = 645
Monthly 260 Incl. Tax
Does this look as a good deal or should I keep looking? Any suggestions.
Also recommend the Lease Calculator from Weymouth Honda (Weymouth, MA). - http://www.weymouthhonda.com/lease
Has all the numbers available for all Honda Cars & SUVS. If you click 'detailed view', you can see residuals, selling price, money factor, cash due at signing, sales tax, etc. Very, very useful site. A must for anyone leasing a Honda IMO.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
57% LX and 56% Sport for 36mo, 12K/yr. (no 10K/yr from Honda)
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2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Quick version:
2015 EX CVT - 36 month lease with 12k miles per year - $3800 down including all TTL, additions and first month's payment - $211.89/month for 35 months with Sentinel care package (before the care package was added the terms were $3800 down, $210/month). RV was 57%.
Long version:
I live in the DFW metroplex, and the best deal I could find for an Accord was the LX for $137/month and $0 down excluding TTL and fees for additions.
I wanted the 2015 EX CVT model for the moonroof and upgraded speakers, and after looking at the differences in MSRP, found that there was around a $2000 difference between the LX and EX models. This equated to about a $60 increase in monthly lease payments over the LX.
So the deal I came to the table with was- $0 down, $0 TTL and $200/month for the 2015 EX CVT Sedan without navigation (not sure if you can even get an EX with navigation). The lease terms were 36 months with 12k miles per year.
They came back with a bunch of numbers trying to show me how with an increase in TTL and additions, the price would actually be around $365/month with $0 down, obviously far too high.
Residual value was 57%, and the MSRP of the car with destination fees was $26,650 ($25,830 MSRP and $820 destination fees). Additions to the car totaled around $1900 (stuff I couldn't negotiate like pre-tinting windows, adding a stripe to the side, bumper guards), TTL was $1665.625 and other fees were around $700 total.
At this point they said that was the final offer and that they couldn't budge, so I was ready to walk out. Then the sales guy told us to offer what we thought would be a reasonable price.
Here is where I think I made my first mistake.
I said $3800 down, including first payment with $200/month for the next 35 months inclusive of TTL and all other fees. This seemed reasonable because I calculated the residual value after 3 years of the car to be $15190.50, which meant the car depreciated $11.459.50 over the 3 years.
They came back with $3800 down and $237/month, and I told them I wouldn't budge from my number.
They came back with $3800 down and $210/month inclusive of all TTL and other costs, and I did some calculations which basically looked like this: $3800 + $210*35 = $11,150.
This is where I think I made my second mistake.
I assumed that because I was lower than the depreciation cost of the car that I was getting a good deal. To the more seasoned car buyers, was I wrong?
The rest of the deal was annoying because I had to sit with a racist and hotheaded finance manager who pushed the sentinel care package on at $238/month, and I adamantly refused any increase in cost until he brought it down to $211.89/month.
So the final deal was 36 month lease with 12k miles per year, $3800 down including all TTL, additions and first month's payment, $211.89/month for 35 months with Sentinel care package.
How did I do? What could I have done better? Any advice is appreciated.
2. Sounds like you were more interested in what the monthly payment was as opposed to cap cost, residual, money factor.
3. Pin stripes, bumper guards, sentinel care ? Sounds like pure profit items for dealer.
4. I went to a lease calculator and punched in the msrp, took 3000 off for the selling price, plugged in .00029, a 3800 down so 0 tax, and 57% residual, and got a payment around $160.
My advice. . Next time, don't do what you did this time. If others differ, please advise.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
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Do you have the residual and mf and any cash for EX 36mo/12kin CA?
Thanks
Got the promotional July 4th sale email from one of the dealers in my area(VA) for a 12K miles/year 3 year lease with $0 due at signing, $0 down payment, $0 first month's payment, $0 security deposit and $167/mo for 35 months thereafter. The MSRP for the car is $23,725
Before going into the dealership I want to ask the experts on this board.
1. What should I look for once I go in the dealership ? Any catch etc.?
2. I have downloaded some excel calculators from the web to understand the leasing terminologies etc. What should I ask them (Residual Value, Money Factor, Dealer acquisition fee etc)
3. Just like the 2 year Toyota maintenance plan , is there something similar from Honda ?
4. If the above offer is true (and I qualify) my guess is that I would have to pay the following only before walking out of the dealership - Tax(4.1%=$973), title, tags (probably another $100) etc
5. Any information to help me before I walk in the dealership would be very helpful ?
Thanks in advance.
Happy 4th everyone !
Yes, you are correct that you will still have to pay fees and tax. Just make sure they are not padding that. The other item that sometimes is not included in their featured price is the bank fee (I think $699? for Honda). if not, you either will add another $20/mo, or pay that up front too.
no real point in getting the maintenance plan. the only thing it will call for during the lease term is an oil change every 7,500-10,000 miles with a tire rotation every other service. Honda dealers are very competitive on that, and always run coupons for $25-$35 for the express 1 hour service.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
"2015 Accord LX Sedan MSRP $23,725. Lease excludes tax, title, license and $599 dealer processing, on approved HFS Super Preferred or Preferred credit. Mileage charge of $0.15/mile over 12,000 miles/year for vehicles with an MSRP under $30,000 and $0.20/mile for vehicles $30,000 and over. Offer valid through 7/6/15. All financing on approved HFS Super Preferred credit. Example 0.0% APR is a dealer buydown rate for 60 months with monthly payments of $16.67 per $1000 financed. May not be combined with other offers, internet prices or USAA/True Car or internet price quotes. Offer valid through 7/6/15. "
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EX-L coupe residual value, mf and any cash 36/12 in CA
Thank You, Thank You!
55% residual for LX-S, 53% residual for EX-L
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I'm turning in my 2012 3 yr lease in on a lx coupe, and I think I may have had made an off deal 3 yrs ago. I have low miles @ 22000, and my trade in value is breaking even to what I owe in excellent condition. Because I don't know what I'm doing, I want to make sure this next lease is a really good one. I really appreciate this forum, Thank You!
4th of July Sale Offers good until Monday - I'm in CA:
2015 Honda Accord LX-S Coupe (image attached is revised with $609 due at signing. Cap cost is higher than selling, is this a problem?)
$25,445 MSRP
$21,180 4th of July Sale Price**
$246mo (includes taxes and fees $609 due at signing)
$265mo (includes taxes and fees)
2015 Honda Accord EX-L Coupe (waiting for lease breakdown)
$29,315 MSRP
$24,946 4th of July Sale Price**
** Your price quote is valid for 48 hours and does not include Dealer Installed Accessories, Tax, License, or Doc Fees. We reserve the right to modify this quote to correct arithmetic errors. Incentive and pricing programs are subject to change by the Manufacturer without notice. Quoted price includes destination and delivery fees.
The numbers and calculations are correct.
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