2016 Honda Accord Lease Questions

ticliff101

Hey guys,

So i just got a deal on a 2016 4dr Honda Accord Sport for a 36 month/12,000 mile LEASE. I am in northern VA. 

I was told:
-that the MSRP is about $25,000.
-that with the discount, I was getting the car at a sale price of $20,900 (without fees, freight, tags, and processing).
- that after all fees, it would come out to $23,000 including everything (fees,tags, freight).
- they said the MF was .00179


offer is:
$2,500 down payment
$255/month for 36 months.
The sales manager claims that they are losing -$1,715 on the car. 

is this a good deal or not?

Let me know if more info is needed.

thank you so much in advance for your help. This is my first time leasing a car and i dont know much about it. Please help.

kyfdx

eddyjung78 said:

Hello everyone.
Could you guide me re MF and RV on 2016 Accord Sports for 24/10 k in Seattle, WA ?

Much appreciated in advance!

.00051 MF and 63% residual for 24/12 (no 10K allowance for Honda).

Really, 24 months is a bad lease on an Accord. The 36/12 residual is 57%

$1250 lease cash

zigster38

ticliff101 said:

Hey guys,

So i just got a deal on a 2016 4dr Honda Accord Sport for a 36 month/12,000 mile LEASE. I am in northern VA. 

I was told:
-that the MSRP is about $25,000.
-that with the discount, I was getting the car at a sale price of $20,900 (without fees, freight, tags, and processing).
- that after all fees, it would come out to $23,000 including everything (fees,tags, freight).
- they said the MF was .00179


offer is:
$2,500 down payment
$255/month for 36 months.
The sales manager claims that they are losing -$1,715 on the car. 

is this a good deal or not?

Let me know if more info is needed.

thank you so much in advance for your help. This is my first time leasing a car and i dont know much about it. Please help.

Dude they are killing you. Should be more like zero down  255 a month. Even less if your credit is top tier.

tonyg2016

ticliff101 said:

This is my first time leasing a car and i dont know much about it. Please help.

that is obvious and THEY know it, too.

why is the money factor so high? .00179 vs .00051
quoting an msrp of "about 25000" is wrong, sport msrp is 25900 (and includes destination).. Dealers who quote prices without freight/destination are scum and should be avoided IMO

ticliff101

Not sure why it's so high. Maybe cause my credit is below 700? I really need help with leasing because I tried crunching numbers in myself to get a good idea of where my monthly/down payments should be but I am so lost since this is my first time leasing. 
PLEASE help me get avergae 36/12000 leasing numbers for accord sport and touring in VA.
the MSRP and sale prices I am being quoted for are accurate but they are obviously trying to rip me offon the rest.
Any help would be greatly appreciated!

Michaell

ticliff101 said:

Not sure why it's so high. Maybe cause my credit is below 700? I really need help with leasing because I tried crunching numbers in myself to get a good idea of where my monthly/down payments should be but I am so lost since this is my first time leasing. 
PLEASE help me get avergae 36/12000 leasing numbers for accord sport and touring in VA.
the MSRP and sale prices I am being quoted for are accurate but they are obviously trying to rip me offon the rest.
Any help would be greatly appreciated!

.00051 and 57% for 36/12 on the Accord Sport; 51% for the Accord Touring.

Ah! I see the .00179 MF from Honda now ... it is for credit scores between 610 and 659 and $0 due at signing. If your credit score is 660 or higher, then you should get the .00051 MF.

Might be time to work with another dealer.

ksionline

Hello,
Could you please give me MF and RV for Honda Accord Sedan LX, Sport, EX and EX-L, all with Honda Sensing for Chicago area? All 36/12.
Thanks

kyfdx

ksionline said:

Hello,
Could you please give me MF and RV for Honda Accord Sedan LX, Sport, EX and EX-L, all with Honda Sensing for Chicago area? All 36/12.
Thanks

.00051 MF and 56%/56%/56%/54% residual.

ruf123

Can I get the Residual and MF on a 2016 honda accord LX in NJ?

ruf123

36 months and 10k miles

ruf123

Also, does anyone know what credit score is needed for preferred tier?

Michaell

ruf123 said:

Can I get the Residual and MF on a 2016 honda accord LX in NJ?

ruf123 said:

36 months and 10k miles

57% and .00051 for 36/12. Honda does not offer 10k leases.

$1000 lease cash and $250 bonus cash.

Michaell

ruf123 said:

Also, does anyone know what credit score is needed for preferred tier?

660 or higher.

bowling777

My new favorite line from any post is the following...
"The sales manager claims that they are losing -$1,715 on the car."
Sure, they will take a $1715 loss on the front end, just to pad the paperwork and clear 3k after taking "THE $1715 LOSS"

Michaell

bowling777 said:

My new favorite line from any post is the following...
"The sales manager claims that they are losing -$1,715 on the car."
Sure, they will take a $1715 loss on the front end, just to pad the paperwork and clear 3k after taking "THE $1715 LOSS"

Lots of ways to skin a customer, er, cat.

lespaul30

What's the difference in residual value for the EX-L w/ Navi & Sensing for the 4 cylinder and V6? 36 month / 12k miles

Michaell

lespaul30 said:

What's the difference in residual value for the EX-L w/ Navi & Sensing for the 4 cylinder and V6? 36 month / 12k miles

54% for 4-cyl; 53% for V6

rutgers1234

Hi,

Can someone tell me if this lease quote is good? I'm new to this and wasn't aware of looking at the breakdown of numbers and at the moment, this is all I have. In NJ

Honda Accord EX-L V6, Base
36/12K
$350/mo
$1000 due at signing

kyfdx

rutgers1234 said:

Hi,

Can someone tell me if this lease quote is good? I'm new to this and wasn't aware of looking at the breakdown of numbers and at the moment, this is all I have. In NJ

Honda Accord EX-L V6, Base
36/12K
$350/mo
$1000 due at signing

Need to know MSRP and selling price.

rutgers1234

Hi,

I failed to mention earlier that the quote above was for a Honda Accord EX-L V6 Coupe

MRSP: $31,860
Selling Price: $27,968
Monthly: $350/mo
Down: $1000
Incentives: 500 College Grad (already factored into 1000 down payment)

I feel like they are charging me a high number. I would appreciate your input.
Thanks

Michaell

rutgers1234 said:

Hi,

I failed to mention earlier that the quote above was for a Honda Accord EX-L V6 Coupe

MRSP: $31,860
Selling Price: $27,968
Monthly: $350/mo
Down: $1000
Incentives: 500 College Grad (already factored into 1000 down payment)

I feel like they are charging me a high number. I would appreciate your input.
Thanks

I get $331/mo with those numbers - if you are adding tax and fees into the selling price, it looks about right.

patricks24

2016 Honda Accord Sport Lease in New Jersey

MSRP: $25,600
Selling Price: $22,500
Money Factor: .00051
Residual: 57%
36 mo/12,000 mile

They originally quoted me at $890 down for $303 a month.

I was able to get it down to $990 down for $279 a month.

I'm coming out to closer to $250-260 a month with zero down. Any suggestions?

Michaell

patricks24 said:

2016 Honda Accord Sport Lease in New Jersey

MSRP: $25,600
Selling Price: $22,500
Money Factor: .00051
Residual: 57%
36 mo/12,000 mile

They originally quoted me at $890 down for $303 a month.

I was able to get it down to $990 down for $279 a month.

I'm coming out to closer to $250-260 a month with zero down. Any suggestions?

I get $239/mo with your numbers.

Ask for the net capitalized cost - that should iron out any discrepancies. Probably some taxes and fees being added into the selling price - make sure you fully understand what they are.

patricks24

From earlier Honda Accord Sport in NJ

MSRP: $25,800
Discount: $3,016
Selling Price: $22,784
Net Cap Cost: $24,739
Includes: $399 Doc Fee, $595 Acquisition Fee, $299 ESC Premium, $425 Maintenance Fee, $237 Cap Fee, and $735.37 Cap Taxes
Money Factor: .00051
Residual: 57%
36 mo/12,000 mile

They want $890 down ($303.01 first payment and 586.99 cap reduction) with $303 a month.

As mentioned, I want closer to $250 with zero down.

Michaell

patricks24 said:

From earlier Honda Accord Sport in NJ

MSRP: $25,800
Discount: $3,016
Selling Price: $22,784
Net Cap Cost: $24,739
Includes: $399 Doc Fee, $595 Acquisition Fee, $299 ESC Premium, $425 Maintenance Fee, $237 Cap Fee, and $735.37 Cap Taxes
Money Factor: .00051
Residual: 57%
36 mo/12,000 mile

They want $890 down ($303.01 first payment and 586.99 cap reduction) with $303 a month.

As mentioned, I want closer to $250 with zero down.

I get $299/mo with your numbers.

If you're rolling all the taxes and fees into the lease, that's adding about $55/mo. If you pay it up front, the payment drops to $244/mo.

brilamen

Hi all,

Been following along this thread as well as the Accord purchase price thread. Did a ton of research on leasing an Accord LX for 36 months at 10K/year (available in my area...NJ). My target monthly payment is $200/month all-in which I know is a bit of a pipe dream but not completely and totally insane, but I'd be happy settling for around $210. This is a vehicle I don't need, but am trying to lease as a spare car, so thankfully time is not of the essence and I can wait as long as need be on this.

Anyways, I have seen lots of ads around advertising lease deals for $199/month or $149/month or something around there with different amounts down. I know these sometimes just apply to one car, but the dealer I talk about below actually applied it to all models.

When I requested quotes, most dealers gave me a monthly payment of $230 all-in with nothing upfront (save for a few that threw out ridiculously high numbers). I thought it a bit odd that a lot of the dealers hit the exact same price, but figured it was the advertised special so they just went with that as their quote. Some just sent me a photo of the sale details and left it at that.

I bit the bullet and visited one dealer close to me in person to see what kind of flexibility there was. To my surprise, they basically said there was none and that was their lowest price. I was just curious if this is what people have encountered not just with Accords but with other cars that are advertised as specials. In my past (the most recent being this past December with my Infiniti QX60), I've usually leased or bought my vehicles at the end of the calendar/model year, so there wasn't a special at the time because it was an older model and I just went ahead and requested a quote, then negotiated down from there.

I'm basically just curious if people have been able to negotiate even a little bit from advertised specials. I saw some informal numbers and identified potential wiggle room as the doc fee and of course the sale price.

Numbers I have worked with in my calculations as I research and planned my approach:

MSRP: $23,840
Sale price: $19,600 (the lowest sale price I have gotten)
Other costs: $1,200 (estimating to account for bank fee, registration, and a bit of profit for dealer in their doc fee)
Residual: 57%
Money factor: .00051
Tax: 7%

That should bring me to $219 or so. So as I mentioned, cut a bit from the sale price and a bit from other costs and I am pretty close. The problem is getting dealers to actually do so, of course.

Appreciate any thoughts, guidance or suggestions. And for reading this novel if you got this far.

kyfdx

brilamen said:

Hi all,

Been following along this thread as well as the Accord purchase price thread. Did a ton of research on leasing an Accord LX for 36 months at 10K/year (available in my area...NJ). My target monthly payment is $200/month all-in which I know is a bit of a pipe dream but not completely and totally insane, but I'd be happy settling for around $210. This is a vehicle I don't need, but am trying to lease as a spare car, so thankfully time is not of the essence and I can wait as long as need be on this.

Anyways, I have seen lots of ads around advertising lease deals for $199/month or $149/month or something around there with different amounts down. I know these sometimes just apply to one car, but the dealer I talk about below actually applied it to all models.

When I requested quotes, most dealers gave me a monthly payment of $230 all-in with nothing upfront (save for a few that threw out ridiculously high numbers). I thought it a bit odd that a lot of the dealers hit the exact same price, but figured it was the advertised special so they just went with that as their quote. Some just sent me a photo of the sale details and left it at that.

I bit the bullet and visited one dealer close to me in person to see what kind of flexibility there was. To my surprise, they basically said there was none and that was their lowest price. I was just curious if this is what people have encountered not just with Accords but with other cars that are advertised as specials. In my past (the most recent being this past December with my Infiniti QX60), I've usually leased or bought my vehicles at the end of the calendar/model year, so there wasn't a special at the time because it was an older model and I just went ahead and requested a quote, then negotiated down from there.

I'm basically just curious if people have been able to negotiate even a little bit from advertised specials. I saw some informal numbers and identified potential wiggle room as the doc fee and of course the sale price.

Numbers I have worked with in my calculations as I research and planned my approach:

MSRP: $23,840
Sale price: $19,600 (the lowest sale price I have gotten)
Other costs: $1,200 (estimating to account for bank fee, registration, and a bit of profit for dealer in their doc fee)
Residual: 57%
Money factor: .00051
Tax: 7%

That should bring me to $219 or so. So as I mentioned, cut a bit from the sale price and a bit from other costs and I am pretty close. The problem is getting dealers to actually do so, of course.

Appreciate any thoughts, guidance or suggestions. And for reading this novel if you got this far.

With your numbers, I get $218/mo.+tax.

The $230/mo. looks pretty good, with just first payment down.

$210/mo. would require a further discount of about $700.

If every dealer is at $230/mo for their best price, then that might be the bottom.

brilamen

kyfdx said:

With your numbers, I get $218/mo.+tax.

The $230/mo. looks pretty good, with just first payment down.

$210/mo. would require a further discount of about $700.

If every dealer is at $230/mo for their best price, then that might be the bottom.

$218 plus tax? I got $218 all-in. Hmm...

Either way, I guess what I am getting at is I am blown away these dealerships would give their absolute bottom line price right off the bat in an ad and then not negotiate a penny less. Why not start higher and then get the folks to bite on a higher price who don't care or know any better and leave room to negotiate for those who like pain and tormenting dealers? That's why I assumed there was room.

Like I said, I've never utilized one of these specials before, so negotiating has always been a given. I acknowledge the fact there isn't a ton of wiggle room here, but figured there was at least some to get me a little bit lower to my magical goal that will make me feel warm and fuzzy inside.

Will likely just hold on and see what Memorial Day, July 4th and such brings in terms of deals. And if not, there's always year-end.

Thanks again.

jailbert

Can I get the Residual and MF on a 2016 Honda Accord Sedan EX only for SF, CA? If there are any cash offers for my area as well, please include. Thanks in advance!

Michaell

jailbert said:

Can I get the Residual and MF on a 2016 Honda Accord Sedan EX only for SF, CA? If there are any cash offers for my area as well, please include. Thanks in advance!

55% and .00051 for 36/15. $1250 total lease cash.

brilamen

Just a followup to my prior posts about leasing an Acccord LX with CVT in NJ.

I had pulled the trigger on a lease for that car for 10K/year and 36 months for $230 with everything built into the payment and the dealership covering the first month's payment. We went to a guy we have done a ton of business with, so he gave us a price right off the bat with little movement possible due to it being a base model, part of a special, and just being a good price (which I confirmed through research here and elsewhere).

I was going back the following day to finish the paperwork and pick up the car when I had a revelation that I never even asked for a quote on the EX to see if it might be worth the added cost (as the equipment was quite a jump from the standard features of the LX). Long story short, they offered a great price on the EX with CVT, I got it knocked down just a bit, and we were set.

For the Accord EX with CVT for 10K/year and 36 months (with nitrogen filled tires and wheel locks which they include on all purchases), here are the major figures with nothing upfront and the dealership covering the first payment:

MSRP: $28,050
Sale price: $23,214
Residual: $15,784.70 (56%)
Money factor: .00041
Acquisition fee: $595
Doc fee: $395
Reg: $295.45
Sales tax: 7%
Monthly payment: $275

Thanks, as always, for all the assistance throughout, both direct and indirect. These forums are a wealth of knowledge and were most helpful when negotiating not only this deal but that for my Infiniti QX60 back in December.

Michaell

brilamen said:

Just a followup to my prior posts about leasing an Acccord LX with CVT in NJ.

I had pulled the trigger on a lease for that car for 10K/year and 36 months for $230 with everything built into the payment and the dealership covering the first month's payment. We went to a guy we have done a ton of business with, so he gave us a price right off the bat with little movement possible due to it being a base model, part of a special, and just being a good price (which I confirmed through research here and elsewhere).

I was going back the following day to finish the paperwork and pick up the car when I had a revelation that I never even asked for a quote on the EX to see if it might be worth the added cost (as the equipment was quite a jump from the standard features of the LX). Long story short, they offered a great price on the EX with CVT, I got it knocked down just a bit, and we were set.

For the Accord EX with CVT for 10K/year and 36 months (with nitrogen filled tires and wheel locks which they include on all purchases), here are the major figures with nothing upfront and the dealership covering the first payment:

MSRP: $28,050
Sale price: $23,214
Residual: $15,784.70 (56%)
Money factor: .00041
Acquisition fee: $595
Doc fee: $395
Reg: $295.45
Sales tax: 7%
Monthly payment: $275

Thanks, as always, for all the assistance throughout, both direct and indirect. These forums are a wealth of knowledge and were most helpful when negotiating not only this deal but that for my Infiniti QX60 back in December.

Congrats on your deal, and thanks for taking the time to detail it for us.

So, how much more per month was it to get the EX?

brilamen

Michaell said:

Congrats on your deal, and thanks for taking the time to detail it for us.

So, how much more per month was it to get the EX?

At the end of the day, $45 more per month for the EX than the LX. Having the EX now and seeing everything it has that the LX didn't, it was well worth it for us. That said, we were quite impressed with the LX and how it didn't look like a base model at all compared to some competitors we were also researching. It terms of specifics, it has dual-zone climate control which the Camry and Altima didn't have, but didn't have the intelligent key standard that the Altima did. But when I looked at the Altima, I thought it looked like a base model on the inside whereas the Accord felt like they tried hard to make it seem not like one. Obviously just my opinion, but for what it's worth.

brcar

Looking for MF, Residual, and any cash incentives for 2016 Accord LX and EX on a 36/12 in NJ.

Thank you!

ck_in_ca

hi all,

can i run some lease numbers by you guys?

i live near Los Angeles.

2016 Accord Ex-L w Nav & Honda Sensing (add Back up Sensors):
Vehicle Price: $31,405.00
Dealer X Savings: - $4,082.00
Dealer X Price: $27,323.00
Backup Sensor: + $739.00
Vehicle Selling Price: $28,062.00 => 31,019.4 (total after all taxes and fees)

Lease term 36mo
Mi: 12k/yr

Down: 782 -> $376 (includes (9%tax)
1282 -> $362 (includes 9%tax)
2108 -> $338 (includes 9% tax)


without even asking for the leasing variables, these numbers to me seem extremely high.

or do i need the addl variables to make an assessment?


thanks

-CK

ck_in_ca

btw,

my inquiries from 5 dealerships nearby gave me similar quotes:

the price of the cars varied by less than 200 among the dealers (see previous posting)

0 down range from 353-390 (after taxes)
750 down range from 348-370 (after taxes)
1500 down range from 327-249 (after taxes)

i leased a 40,000 (after tax) car (Infiniti) several years ago and the monthly was 420 (after CA taxes).
based on simpleton observation, i would have thought the monthlies for the Accord would be in the 280-300 range? am i oversimplifying it?

thanks!

-CK

dangrenier

Hello, i have been quoted a lease on a Honda Accord EX-L (No nav or honda sensing).

I am currently leasing an Accord EX from this dealership that is due to expire in August. I got a flyer from Honda finance that they would pay my last 3 months and waive a $500 excessive wear on the new lease and waive the security deposit on a new lease. So i brought that to my dealer yesterday and they gave me the following quote on an EX-L which seems a tad bit high... Not sure... Feel free to weigh in.


On the leftbottom side there is a section called Vehicle profit for $2242.09... not quite sure what this is but my guess is it is some kind of credit because i am returning my lease in an excellent condition (only 29K miles versus the 36K miles allowed and it's as clean as new).

Then on the right side it shows the following.

Vehicle cost : 27,742.09
Vehicle profit: -2242.09 (this is the amount coming from the other column that is deducted)
Total Selling Price: 25,500

Acquisition fee: 595
Fee and Insurance: 470
Inception Fees Due (capped) 359.29

Capital Cost: 26,924.29
Capped Taxes: 1858.09
Total Capital Cost: 28,782.37

This brings everything to a monthly payment of $359.29 for 3 years 12K miles / year

While the selling price of 25K is nice, they almost make up for the discount with all the "Misc fees" which brings up the price back to almost 27k. I would think that's where i'd have place for negociation over those "fees".

Is $330 to $340 a viable target?

tonyg2016

has the money factor gone down for May 2016? seems to be .00038 OR did the lease cash go up?

kyfdx

brcar said:

Looking for MF, Residual, and any cash incentives for 2016 Accord LX and EX on a 36/12 in NJ.

Thank you!

.00038 MF and 57% residual. $1000 lease cash + $250 bonus lease cash

kyfdx

ck_in_ca said:

hi all,

can i run some lease numbers by you guys?

i live near Los Angeles.

2016 Accord Ex-L w Nav & Honda Sensing (add Back up Sensors):
Vehicle Price: $31,405.00
Dealer X Savings: - $4,082.00
Dealer X Price: $27,323.00
Backup Sensor: + $739.00
Vehicle Selling Price: $28,062.00 => 31,019.4 (total after all taxes and fees)

Lease term 36mo
Mi: 12k/yr

Down: 782 -> $376 (includes (9%tax)
1282 -> $362 (includes 9%tax)
2108 -> $338 (includes 9% tax)


without even asking for the leasing variables, these numbers to me seem extremely high.

or do i need the addl variables to make an assessment?


thanks

-CK

How do you get $3000 added to the selling price? CA taxes the monthly payment, not the price of the vehicle. To get real numbers, ask the dealer for the adjusted CAP cost, and a reconciliation of that amount with the selling price.

Also, $739 for backup sensors? That's $22/mo on your lease payment. The car already comes with a backup camera.

kyfdx

ck_in_ca said:

btw,

my inquiries from 5 dealerships nearby gave me similar quotes:

the price of the cars varied by less than 200 among the dealers (see previous posting)

0 down range from 353-390 (after taxes)
750 down range from 348-370 (after taxes)
1500 down range from 327-249 (after taxes)

i leased a 40,000 (after tax) car (Infiniti) several years ago and the monthly was 420 (after CA taxes).
based on simpleton observation, i would have thought the monthlies for the Accord would be in the 280-300 range? am i oversimplifying it?

thanks!

-CK

Infinitis are/were dirt cheap to lease, relative to their MSRP, due to big incentives, high residuals and low money factors. (I know, we had a 2011 G37X). So, not a fair comparison.

That doesn't mean you can't do better than what you've been quoted so far. Also, $353-$390 is a pretty big spread. $353 could be a very good lease payment, while $390 might suck.

kyfdx

dangrenier said:

Hello, i have been quoted a lease on a Honda Accord EX-L (No nav or honda sensing).

I am currently leasing an Accord EX from this dealership that is due to expire in August. I got a flyer from Honda finance that they would pay my last 3 months and waive a $500 excessive wear on the new lease and waive the security deposit on a new lease. So i brought that to my dealer yesterday and they gave me the following quote on an EX-L which seems a tad bit high... Not sure... Feel free to weigh in.


On the leftbottom side there is a section called Vehicle profit for $2242.09... not quite sure what this is but my guess is it is some kind of credit because i am returning my lease in an excellent condition (only 29K miles versus the 36K miles allowed and it's as clean as new).

Then on the right side it shows the following.

Vehicle cost : 27,742.09
Vehicle profit: -2242.09 (this is the amount coming from the other column that is deducted)
Total Selling Price: 25,500

Acquisition fee: 595
Fee and Insurance: 470
Inception Fees Due (capped) 359.29

Capital Cost: 26,924.29
Capped Taxes: 1858.09
Total Capital Cost: 28,782.37

This brings everything to a monthly payment of $359.29 for 3 years 12K miles / year

While the selling price of 25K is nice, they almost make up for the discount with all the "Misc fees" which brings up the price back to almost 27k. I would think that's where i'd have place for negociation over those "fees".

Is $330 to $340 a viable target?

Which state and tax rate?

I'd guess the $2242 is just the dealer's discount from MSRP.
What is the amount due at signing with that payment?

brcar

Thank you. Is there still a .0001 discount on the MF for sign and drive leases?

Also, does Honda currently offer an incentive for customers who are coming off of a competitor lease such as Toyota? For example, do they have cash incentives to pay the disposition fee, or is it something specific to the dealer that ends up factored into the lease price?

Thanks again.

dangrenier

kyfdx said:

dangrenier said:

Hello, i have been quoted a lease on a Honda Accord EX-L (No nav or honda sensing).

I am currently leasing an Accord EX from this dealership that is due to expire in August. I got a flyer from Honda finance that they would pay my last 3 months and waive a $500 excessive wear on the new lease and waive the security deposit on a new lease. So i brought that to my dealer yesterday and they gave me the following quote on an EX-L which seems a tad bit high... Not sure... Feel free to weigh in.


On the leftbottom side there is a section called Vehicle profit for $2242.09... not quite sure what this is but my guess is it is some kind of credit because i am returning my lease in an excellent condition (only 29K miles versus the 36K miles allowed and it's as clean as new).

Then on the right side it shows the following.

Vehicle cost : 27,742.09
Vehicle profit: -2242.09 (this is the amount coming from the other column that is deducted)
Total Selling Price: 25,500

Acquisition fee: 595
Fee and Insurance: 470
Inception Fees Due (capped) 359.29

Capital Cost: 26,924.29
Capped Taxes: 1858.09
Total Capital Cost: 28,782.37

This brings everything to a monthly payment of $359.29 for 3 years 12K miles / year

While the selling price of 25K is nice, they almost make up for the discount with all the "Misc fees" which brings up the price back to almost 27k. I would think that's where i'd have place for negociation over those "fees".

Is $330 to $340 a viable target?

Which state and tax rate?

I'd guess the $2242 is just the dealer's discount from MSRP.
What is the amount due at signing with that payment?

The state is Georgia
$0 down payment

Michaell

brcar said:

Thank you. Is there still a .0001 discount on the MF for sign and drive leases?

Also, does Honda currently offer an incentive for customers who are coming off of a competitor lease such as Toyota? For example, do they have cash incentives to pay the disposition fee, or is it something specific to the dealer that ends up factored into the lease price?

Thanks again.

Yes, that discount still applies for sign and drive.

Doesn't look like Honda is offering any sort of conquest incentive this month.

Michaell

dangrenier said:

kyfdx said:

dangrenier said:

Hello, i have been quoted a lease on a Honda Accord EX-L (No nav or honda sensing).

I am currently leasing an Accord EX from this dealership that is due to expire in August. I got a flyer from Honda finance that they would pay my last 3 months and waive a $500 excessive wear on the new lease and waive the security deposit on a new lease. So i brought that to my dealer yesterday and they gave me the following quote on an EX-L which seems a tad bit high... Not sure... Feel free to weigh in.


On the leftbottom side there is a section called Vehicle profit for $2242.09... not quite sure what this is but my guess is it is some kind of credit because i am returning my lease in an excellent condition (only 29K miles versus the 36K miles allowed and it's as clean as new).

Then on the right side it shows the following.

Vehicle cost : 27,742.09
Vehicle profit: -2242.09 (this is the amount coming from the other column that is deducted)
Total Selling Price: 25,500

Acquisition fee: 595
Fee and Insurance: 470
Inception Fees Due (capped) 359.29

Capital Cost: 26,924.29
Capped Taxes: 1858.09
Total Capital Cost: 28,782.37

This brings everything to a monthly payment of $359.29 for 3 years 12K miles / year

While the selling price of 25K is nice, they almost make up for the discount with all the "Misc fees" which brings up the price back to almost 27k. I would think that's where i'd have place for negociation over those "fees".

Is $330 to $340 a viable target?

Which state and tax rate?

I'd guess the $2242 is just the dealer's discount from MSRP.
What is the amount due at signing with that payment?

The state is Georgia
$0 down payment

The Acquisition Fee is mandatory from Honda - get a better description of the "Fee and Insurance" and "Inception Fees Due"

ck_in_ca

hi kyfdx,

i didn't read the email correctly. the 28,062 was under the "purchase option" tab.

1. should i ask for the final vehicle price in preparation for lease (versus for sale) - are they necessarily different?
2. i'll ditch the sensors.
3. could you clarify what you meant about the reconciliation statement? sorry, my knowledge of this is limited!!


thanks for your help.

-CK

kyfdx

ck_in_ca said:

hi kyfdx,

i didn't read the email correctly. the 28,062 was under the "purchase option" tab.

1. should i ask for the final vehicle price in preparation for lease (versus for sale) - are they necessarily different?
2. i'll ditch the sensors.
3. could you clarify what you meant about the reconciliation statement? sorry, my knowledge of this is limited!!


thanks for your help.

-CK

You have a purchase price, and you have a CAP cost.

You want an accounting on the difference between those two numbers, so you know what you are paying for.

dangrenier

Michaell said:

dangrenier said:

kyfdx said:

dangrenier said:

Hello, i have been quoted a lease on a Honda Accord EX-L (No nav or honda sensing).

I am currently leasing an Accord EX from this dealership that is due to expire in August. I got a flyer from Honda finance that they would pay my last 3 months and waive a $500 excessive wear on the new lease and waive the security deposit on a new lease. So i brought that to my dealer yesterday and they gave me the following quote on an EX-L which seems a tad bit high... Not sure... Feel free to weigh in.


On the leftbottom side there is a section called Vehicle profit for $2242.09... not quite sure what this is but my guess is it is some kind of credit because i am returning my lease in an excellent condition (only 29K miles versus the 36K miles allowed and it's as clean as new).

Then on the right side it shows the following.

Vehicle cost : 27,742.09
Vehicle profit: -2242.09 (this is the amount coming from the other column that is deducted)
Total Selling Price: 25,500

Acquisition fee: 595
Fee and Insurance: 470
Inception Fees Due (capped) 359.29

Capital Cost: 26,924.29
Capped Taxes: 1858.09
Total Capital Cost: 28,782.37

This brings everything to a monthly payment of $359.29 for 3 years 12K miles / year

While the selling price of 25K is nice, they almost make up for the discount with all the "Misc fees" which brings up the price back to almost 27k. I would think that's where i'd have place for negociation over those "fees".

Is $330 to $340 a viable target?

Which state and tax rate?

I'd guess the $2242 is just the dealer's discount from MSRP.
What is the amount due at signing with that payment?

The state is Georgia
$0 down payment

The Acquisition Fee is mandatory from Honda - get a better description of the "Fee and Insurance" and "Inception Fees Due"

After exchanging emails with the dealer, they lowered the purchase price a bit to make a $346 monthly payment with the first payment waived. Because that first payment is waived, i can put in my current car payment (what i would have paid of my Accord EX this month ($321) to reduce the capitalized cost a bit more. It would bring down the monthly to $336. That's only $15 more than what i pay now.

Makes sense or?

Michaell

dangrenier said:

Michaell said:

dangrenier said:

kyfdx said:

dangrenier said:

Hello, i have been quoted a lease on a Honda Accord EX-L (No nav or honda sensing).

I am currently leasing an Accord EX from this dealership that is due to expire in August. I got a flyer from Honda finance that they would pay my last 3 months and waive a $500 excessive wear on the new lease and waive the security deposit on a new lease. So i brought that to my dealer yesterday and they gave me the following quote on an EX-L which seems a tad bit high... Not sure... Feel free to weigh in.


On the leftbottom side there is a section called Vehicle profit for $2242.09... not quite sure what this is but my guess is it is some kind of credit because i am returning my lease in an excellent condition (only 29K miles versus the 36K miles allowed and it's as clean as new).

Then on the right side it shows the following.

Vehicle cost : 27,742.09
Vehicle profit: -2242.09 (this is the amount coming from the other column that is deducted)
Total Selling Price: 25,500

Acquisition fee: 595
Fee and Insurance: 470
Inception Fees Due (capped) 359.29

Capital Cost: 26,924.29
Capped Taxes: 1858.09
Total Capital Cost: 28,782.37

This brings everything to a monthly payment of $359.29 for 3 years 12K miles / year

While the selling price of 25K is nice, they almost make up for the discount with all the "Misc fees" which brings up the price back to almost 27k. I would think that's where i'd have place for negociation over those "fees".

Is $330 to $340 a viable target?

Which state and tax rate?

I'd guess the $2242 is just the dealer's discount from MSRP.
What is the amount due at signing with that payment?

The state is Georgia
$0 down payment

The Acquisition Fee is mandatory from Honda - get a better description of the "Fee and Insurance" and "Inception Fees Due"

After exchanging emails with the dealer, they lowered the purchase price a bit to make a $346 monthly payment with the first payment waived. Because that first payment is waived, i can put in my current car payment (what i would have paid of my Accord EX this month ($321) to reduce the capitalized cost a bit more. It would bring down the monthly to $336. That's only $15 more than what i pay now.

Makes sense or?

Generally, we recommend against negotiating the payment only. Better to negotiate your best selling price and understand fully the taxes and fees you are either paying up front or adding into that selling price.