2016 Honda Accord Lease Questions

Michaell

medved55 said:

good afternoon,

Looking for lease numbers for the EX accord 4 cy

12k, 36 months.

looking for residual, lease cash and MF for June.

Thank you in advance!

also i have had dealerships roll everything into a lease, including licensing costs. all i had to pay was first month.

57% and .00038. $1250 total lease cash.

Michaell

klnmcmg said:

MF and RV for Accord Sedan EX-L with Navi 4cyl in NC? 36/15

.00038 and 54%. $1750 total lease cash.

Michaell

keithwa said:

2016 Accord Coupe EX-L
MSRP: $29565
Sale Price: $26427.69
Adj Cap Cost: $27022.69 (includes a $595 acquisition fee)

Sign and Drive Lease
MF .00028
Residual 54%

Quoted a lease payment for a 36/15K at $337 + tax (.095) for a total lease payment of $369.33
Being asked for $344.25 down for license and doc fees.
Also told the $1750 dealer cash is factored into this deal.
Dealer is making the first payment leaving 35 additional.

Does this sound like a good deal? (Seattle, WA)

Thanks

With your numbers, I get $350/mo with 9.5% tax.

Confirm the adjusted cap cost ...

alex801

Signed a new lease last night for EX in Florida.

$260 a month sign and drive deal.Only 35 payments remains and true zero out of pocket. The adjusted cap cost was around 23800.

Let me know if you have any questions...

This board is great help when looking for a new car. Thank you.

kyfdx

alex801 said:

Signed a new lease last night for EX in Florida.

$260 a month sign and drive deal.Only 35 payments remains and true zero out of pocket. The adjusted cap cost was around 23800.

Let me know if you have any questions...

This board is great help when looking for a new car. Thank you.

Congrats!

bada_bing

Please June lease numbers and incentives on a 2016 Honda Accord Sport Manual in SoCal. Thanks in advance!

kyfdx

bada_bing said:

Please June lease numbers and incentives on a 2016 Honda Accord Sport Manual in SoCal. Thanks in advance!

.00038 MF and 55% residual for 36/15. $1250 lease cash

jman216

Hi,

Looking for MF and RV for 2016 Accord Touring. 36/12 term in Chicago area.

Thanks!

Michaell

jman216 said:

Hi,

Looking for MF and RV for 2016 Accord Touring. 36/12 term in Chicago area.

Thanks!

.00038 and 51%. $1750 lease cash.

glenmetz

It's coming time to trade in my 2014 lease for a new one. What are the numbers on a EX-L V6 in NY. Looking for a 36-month, 12k/miles/year lease.

kyfdx

glenmetz said:

It's coming time to trade in my 2014 lease for a new one. What are the numbers on a EX-L V6 in NY. Looking for a 36-month, 12k/miles/year lease.

.00038 MF and 55% residual. $1750 lease cash

keithwa

What is the residual for a 2016 Accord Coupe EX-L on a 36/15K lease. Thanks

Michaell

keithwa said:

What is the residual for a 2016 Accord Coupe EX-L on a 36/15K lease. Thanks

.00038 and 52%. $1750 lease cash.

whzup444

Lease deal just went through officially.
2016 Accord EX-L
MRSP: $29,505
Sale Price: $24,517.77
$ Down: $1000 + $500 grad credit
36/12,000 mile lease
Residual Value: 16,522.80
Monthly Payment (x35): $249.84

Michaell

whzup444 said:

Lease deal just went through officially.
2016 Accord EX-L
MRSP: $29,505
Sale Price: $24,517.77
$ Down: $1000 + $500 grad credit
36/12,000 mile lease
Residual Value: 16,522.80
Monthly Payment (x35): $249.84

Congrats!

bada_bing

I'd like to verify that my my lease calculations are correct for two scenarios for a 2016 Honda Accord Sport manual for 3 yr/36K miles: (1) normal lease (MF = 0.00038) where only the acquisition fee is rolled into the capitalized cost and I would pay first month plus DMV and doc fees at delivery plus 35 subsequent payments; (2) sign and drive lease (MF = 0.00028) where the acquisition fee, DMV and doc fees, and first payment are rolled into the capitalized cost and I would pay $0 at lease signing and make 35 payments thereafter. For both scenarios, I made the assumption that the selling price is $21,000 and the residual is 57%. Local use tax in my area is 9%.

For scenario (1) I calculate a monthly payment of $216.09 plus $19.45 tax for a total of $235.54/mo. Due at signing would be first month's payment of $235.54 plus DMV and doc fees (I estimated about $300) for a total of about $535.

For scenario (2), I calculate a monthly payment of $218.28 plus $19.65 tax for a total of $237.93/mo. Tehre would be $0 due at signing and I would make 35 payments of $238.

I think my calculation for the sign and drive lease must be wrong, because if the numbers are correct, it's a no-brainer to go with the Sign and Drive lease. The roughly $3 more per month times 35 months is far less than the $535 I would pay upfront. Am I missing something or is there a scenario where it makes more sense to pay the first payment and DMV fees upfront? I'm thinking I did the calculation wrong for the second scenario.

bada_bing

I forgot to list the $25,100 MSRP I used in my calculations above.

kyfdx

bada_bing said:

I forgot to list the $25,100 MSRP I used in my calculations above.

On the Sign and Drive lease, the dealer makes the first payment. However, this may affect the price they give you. It's not necessarily apples to apples.

Gr3yfox

so putting the focus on hold now...onto an accord! Im just using numbers from above.

Honda accord sport manual. (4dr)

$24685 (not adjusting price; browsing online car shopping)
.55 residual and 1750 lease cash (NY) .00038 MF with .0887

0 down (excluding TTL fees first car payment etc..)

297.81

Does my payment add up correctly or am i missing something, only reason for all this I'm assuming the number should only be going lower since no negotiation has gone on the price.

also to ask is there an incentive/loyalty program for sticking with honda? we are returning a civic this month.

bada_bing

kyfdx said:

bada_bing said:

I forgot to list the $25,100 MSRP I used in my calculations above.

On the Sign and Drive lease, the dealer makes the first payment. However, this may affect the price they give you. It's not necessarily apples to apples.

So how does one decide which way to go? I think I will stick to the regular lease, so at least I know how the numbers should add up. I was told my another moderator (Michael) that the dealer doesn't make the first payment. You just make 35 instead of 36 payments. So the overall cost of the lease would be divided by 35 payments instead of 36.

Michaell

bada_bing said:

I forgot to list the $25,100 MSRP I used in my calculations above.

On the Sign and Drive lease, the dealer makes the first payment. However, this may affect the price they give you. It's not necessarily apples to apples.

So how does one decide which way to go? I think I will stick to the regular lease, so at least I know how the numbers should add up. I was told my another moderator (Michael) that the dealer doesn't make the first payment. You just make 35 instead of 36 payments. So the overall cost of the lease would be divided by 35 payments instead of 36.

 I don't believe I've ever said that. The lease is calculated off of 36 payments, but the dealer make the first one on your behalf. 

bada_bing

Michaell said:

bada_bing said:

kyfdx said:

bada_bing said:

I forgot to list the $25,100 MSRP I used in my calculations above.

On the Sign and Drive lease, the dealer makes the first payment. However, this may affect the price they give you. It's not necessarily apples to apples.

So how does one decide which way to go? I think I will stick to the regular lease, so at least I know how the numbers should add up. I was told my another moderator (Michael) that the dealer doesn't make the first payment. You just make 35 instead of 36 payments. So the overall cost of the lease would be divided by 35 payments instead of 36.

 I don't believe I've ever said that. The lease is calculated off of 36 payments, but the dealer make the first one on your behalf. 

I'm sorry. I must have misunderstood. I guess I'm trying to come to grips with how to work such a lease. The conventional wisdom is that you negotiate the best selling price and then let the payment come out to whatever number based on the residual and money factor. Sounds like with this type of lease, you have to tell the dealer upfront that you want this type of lease and he will likely alter his selling price to accommodate the first payment he has to pay. It seems like it would be harder to negotiate or know if you are getting a good deal. Am I making it too complicated, or can I negotiate the lowest selling price and then tell him "Oh by the way, I want to pay nothing at inception, I want the lower money factor and I want you to make the first payment too"?

Michaell

bada_bing said:

Michaell said:

bada_bing said:

kyfdx said:

bada_bing said:

I forgot to list the $25,100 MSRP I used in my calculations above.

On the Sign and Drive lease, the dealer makes the first payment. However, this may affect the price they give you. It's not necessarily apples to apples.

So how does one decide which way to go? I think I will stick to the regular lease, so at least I know how the numbers should add up. I was told my another moderator (Michael) that the dealer doesn't make the first payment. You just make 35 instead of 36 payments. So the overall cost of the lease would be divided by 35 payments instead of 36.

 I don't believe I've ever said that. The lease is calculated off of 36 payments, but the dealer make the first one on your behalf. 

I'm sorry. I must have misunderstood. I guess I'm trying to come to grips with how to work such a lease. The conventional wisdom is that you negotiate the best selling price and then let the payment come out to whatever number based on the residual and money factor. Sounds like with this type of lease, you have to tell the dealer upfront that you want this type of lease and he will likely alter his selling price to accommodate the first payment he has to pay. It seems like it would be harder to negotiate or know if you are getting a good deal. Am I making it too complicated, or can I negotiate the lowest selling price and then tell him "Oh by the way, I want to pay nothing at inception, I want the lower money factor and I want you to make the first payment too"?

What's the worst that could happen with your approach? Dealer says no.

Might be a case where negotiating with multiple dealers at the same time, all of whom know you want the 'sign and drive' MF, will result in your best deal.

kyfdx

I would just forget about the "sign and drive" deal. It's unnecessarily complicated. And, likely won't make any difference in the total amount paid

Just roll in whatever you want to the lease payment, and pay upfront, what you want to pay upfront.
.00038 MF

dan_west

Hi all,
Can someone look at this deal in CA for 2016 Accord LX, 3 year/12k miles lease:
MSRP- 23,840
Residual – 57% (13,588.50)
Acquisition fee - $595
Money Factor – 0.00038
Total monthly payment - $250.00
Tax rate -9%
Amount due at signing -$250
Please tell me what is a good monthly payment for $250 or $500 down payment and also
a link to a simple lease calculator.
Thank you

Michaell

dan_west said:

Hi all,
Can someone look at this deal in CA for 2016 Accord LX, 3 year/12k miles lease:
MSRP- 23,840
Residual – 57% (13,588.50)
Acquisition fee - $595
Money Factor – 0.00038
Total monthly payment - $250.00
Tax rate -9%
Amount due at signing -$250
Please tell me what is a good monthly payment for $250 or $500 down payment and also
a link to a simple lease calculator.
Thank you

I'll answer the last question first; use this link to build your own calculator:

http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

And, in order to evaluate the deal, we would need to know the selling price or adjusted capitalized cost of the vehicle.

parallelspro

Michaell,

Whats the current MF and Residual and any lease cash for Miami, FL?
For a 16 Accord Sport and the Accord Ex-L? Thanks.

Michaell

parallelspro said:

Michaell,

Whats the current MF and Residual and any lease cash for Miami, FL?
For a 16 Accord Sport and the Accord Ex-L? Thanks.

What lease term and how many miles per year?

parallelspro

Michaell said:

parallelspro said:

Michaell,

Whats the current MF and Residual and any lease cash for Miami, FL?
For a 16 Accord Sport and the Accord Ex-L? Thanks.

What lease term and how many miles per year?

36 Mo / 12k miles

kyfdx

parallelspro said:

Michaell said:

parallelspro said:

Michaell,

Whats the current MF and Residual and any lease cash for Miami, FL?
For a 16 Accord Sport and the Accord Ex-L? Thanks.

What lease term and how many miles per year?

36 Mo / 12k miles

.00038 MF and 57%/56% residual for Sport/EXL.
$1250/$1750 lease cash for Sport/EXL

dan_west

Michaell said:

dan_west said:

Hi all,
Can someone look at this deal in CA for 2016 Accord LX, 3 year/12k miles lease:
MSRP- 23,840
Residual – 57% (13,588.50)
Acquisition fee - $595
Money Factor – 0.00038
Total monthly payment - $250.00
Tax rate -9%
Amount due at signing -$250
Please tell me what is a good monthly payment for $250 or $500 down payment and also
a link to a simple lease calculator.
Thank you

I'll answer the last question first; use this link to build your own calculator:

http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

And, in order to evaluate the deal, we would need to know the selling price or adjusted capitalized cost of the vehicle.

Hi Michaell,
Selling price is 20,400.
Is $250 down and $250 monthly payment is a good lease or I can find better?
CA state, 2016 Accord LX, 3 year/12k miles lease:
MSRP- 23,840
Residual – 57% (13,588.80)
Acquisition fee - $595
Money Factor – 0.00038
Total monthly payment - $250.00
Tax rate -9%

Thank you

Michaell

dan_west said:

Michaell said:

dan_west said:

Hi all,
Can someone look at this deal in CA for 2016 Accord LX, 3 year/12k miles lease:
MSRP- 23,840
Residual – 57% (13,588.50)
Acquisition fee - $595
Money Factor – 0.00038
Total monthly payment - $250.00
Tax rate -9%
Amount due at signing -$250
Please tell me what is a good monthly payment for $250 or $500 down payment and also
a link to a simple lease calculator.
Thank you

I'll answer the last question first; use this link to build your own calculator:

http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

And, in order to evaluate the deal, we would need to know the selling price or adjusted capitalized cost of the vehicle.

Hi Michaell,
Selling price is 20,400.
Is $250 down and $250 monthly payment is a good lease or I can find better?
CA state, 2016 Accord LX, 3 year/12k miles lease:
MSRP- 23,840
Residual – 57% (13,588.80)
Acquisition fee - $595
Money Factor – 0.00038
Total monthly payment - $250.00
Tax rate -9%

Thank you

If I add the acquisition fee to the selling price, I get $239/mo after 9% tax.

I would confirm the adjusted capitalized cost - if higher than $20,995, find out what else is being added in.

NicholasT

Hi, looking to see if I am getting a good deal, or if the guy is honest. I've got the following lease offer.

2016 Honda Accord EX-L Sedan white
Balance due $25,080 (includes all fees)
Residual $16522.8
MF - He says I am getting .00038

36m/12k year

Cost is $288.55 per month. Only 1st payment due at signing

Does this sound accurate?

Thanks in advance!

Michaell

NicholasT said:

Hi, looking to see if I am getting a good deal, or if the guy is honest. I've got the following lease offer.

2016 Honda Accord EX-L Sedan white
Balance due $25,080 (includes all fees)
Residual $16522.8
MF - He says I am getting .00038

36m/12k year

Cost is $288.55 per month. Only 1st payment due at signing

Does this sound accurate?

Thanks in advance!

$29,505 MSRP and 56% residual; .00038 is the correct MF for the Accord.

I get $253.51/mo plus tax with those numbers. What is the tax rate in Maine?

NicholasT

Thanks! That's what I kept coming to as well so came to ask on here. 5% tax in Maine. I just don't see it adding up to $288. I get $253 also.

Michaell

NicholasT said:

Thanks! That's what I kept coming to as well so came to ask on here. 5% tax in Maine. I just don't see it adding up to $288. I get $253 also.

Only two variables in a lease - MF and adjusted cap cost.

We know you are getting the base MF of .00038, so confirm the adjusted cap cost the dealer is using. There might be some fees in there that are bumping up the payment.

NicholasT

We have

$24080 sale price
$250 ME Tax
$34 Title.reg, etc
$599 Admin fee
$125 Trade balance

Balance due (cash required) = $25088

Lease is based off this and run $288/month. I don't believe I'm getting the full picture from the dealer.

kyfdx

NicholasT said:

We have

$24080 sale price
$250 ME Tax
$34 Title.reg, etc
$599 Admin fee
$125 Trade balance

Balance due (cash required) = $25088

Lease is based off this and run $288/month. I don't believe I'm getting the full picture from the dealer.

You are missing the $595 acquisition fee.

kage561

Hi guys, I am a first time leaser for a car, a recent college grad and wondering if the following 2016 honda accord sport is a good deal and is fair.

This dealer in south Florida is offering the sign and drive as a 0 down payment. I have not told them yet I am a college grad yet. trying to get the payments lowered as best I can .

cap cost 23,207.56
residual value 14763

money factor .00038
12,000 per year

acquisition fee 0
payment 249.00 + tax fl 14.94 = 263.964 / month

deposit 0
vehicle purchase price 21,545.23

I asked what is 15k miles per year and was told it is 2% added to RV. or $15/month more

Michaell

kage561 said:

Hi guys, I am a first time leaser for a car, a recent college grad and wondering if the following 2016 honda accord sport is a good deal and is fair.

This dealer in south Florida is offering the sign and drive as a 0 down payment. I have not told them yet I am a college grad yet. trying to get the payments lowered as best I can .

cap cost 23,207.56
residual value 14763

money factor .00038
12,000 per year

acquisition fee 0
payment 249.00 + tax fl 14.94 = 263.964 / month

deposit 0
vehicle purchase price 21,545.23

I asked what is 15k miles per year and was told it is 2% added to RV. or $15/month more

What is the MSRP?

kage561

2016 accord sport msrp is 25900."low msrp 25065" , Vehicle cost is 24395. 36 month lease 12k miles. Rv 57%.   

kyfdx

kage561 said:

Hi guys, I am a first time leaser for a car, a recent college grad and wondering if the following 2016 honda accord sport is a good deal and is fair.

This dealer in south Florida is offering the sign and drive as a 0 down payment. I have not told them yet I am a college grad yet. trying to get the payments lowered as best I can .

cap cost 23,207.56
residual value 14763

money factor .00038
12,000 per year

acquisition fee 0
payment 249.00 + tax fl 14.94 = 263.964 / month

deposit 0
vehicle purchase price 21,545.23

I asked what is 15k miles per year and was told it is 2% added to RV. or $15/month more

kage561 said:

2016 accord sport msrp is 25900."low msrp 25065" , Vehicle cost is 24395. 36 month lease 12k miles. Rv 57%.   

Not sure what "low MSRP" means.. but, it looks like $25,900 is correct.

The calculations are exact, to the penny.

Going to 15K/yr reduces the residual by 2%
That adds $14.19+tax to the payment.

$1662 difference between purchase price and CAP cost. I'd want to know what that consists of.
$595 acquisition fee, $249 first payment, and what else?

That's a nice low price on the car, but they might be padding it with a big dealer fee (within that $1662).

Either way $264/mo. for only 35 months on a 36 month lease looks like a really good payment. If you can get it lower, so much the better.

tonyg2016

"That's a nice low price on the car, but they might be padding it with a big dealer fee (within that $1662)."

i agree with that statement; probably the typical florida dealer fee of 699 plus some add-on accessory cost.
still not a bad deal but you should try for 255 and settle for 259, not 264...

kpwin17

I left this on the prices paid page but I figured I'd share it here too since you guys were so much help.

I signed a lease on June 6th for a 2016 Sport with Sensing. My deal is a little odd because is includes a wheel/tire warranty and some negative equity from my trade, but I figured I'd share the details for the sake of comparison.

36 months, 15K miles per year
MSRP - $26900
Purchase Price - $22685
Wheel/tire warranty - $498
Neg trade equity - $722.67
Acq fee - $595
Doc fee - $75
DMV, tire and inspection fees - $222.50
NY state tax at 7% - $811.80

Gross cap cost - $25589.02
Cash due at signing - $620 (includes first pmt)
Adjusted cap cost - $25289.78
Residual - 54%
MF - .00038
Payment - $314.12

I cannot for the life of me figure out how to calculate the tax in NY so the following are my estimations, but if I didn't have the negative equity my payment would have been roughly $295 and without the tire/wheel warranty my payment would have been roughly $278.

I thought it was a decent deal. I may have been able to do a little better in the sale price but this dealer was giving me about $750 more for my trade than the others. Ultimately, I'm happy with it!

parallelspro

alex801 said:

Signed a new lease last night for EX in Florida.

$260 a month sign and drive deal.Only 35 payments remains and true zero out of pocket. The adjusted cap cost was around 23800.

Let me know if you have any questions...

This board is great help when looking for a new car. Thank you.

Was this in south florida? Can you PM with me the dealer and reps info?
Im looking for a similar lease.

randalkc

Can you provide MF, Residual and any lease cash on a 3yr/36k and 2yr/24k on a 2016 Accord LX and Sport in Kansas? Thanks in advance

Michaell

randalkc said:

Can you provide MF, Residual and any lease cash on a 3yr/36k and 2yr/24k on a 2016 Accord LX and Sport in Kansas? Thanks in advance

.00038 and 57% or 63%

$1250 total lease cash.

randalkc

Michaell said:

randalkc said:

Can you provide MF, Residual and any lease cash on a 3yr/36k and 2yr/24k on a 2016 Accord LX and Sport in Kansas? Thanks in advance

.00038 and 57% or 63%

$1250 total lease cash.

Thank you! Do those figures vary at all with non-sensing vs sensing option, or with a sport 6mt vs CVT? I intended to add that I am looking at a non-sensing model. Thank you again!

Michaell

randalkc said:

Michaell said:

randalkc said:

Can you provide MF, Residual and any lease cash on a 3yr/36k and 2yr/24k on a 2016 Accord LX and Sport in Kansas? Thanks in advance

.00038 and 57% or 63%

$1250 total lease cash.

Thank you! Do those figures vary at all with non-sensing vs sensing option, or with a sport 6mt vs CVT? I intended to add that I am looking at a non-sensing model. Thank you again!

Subtract 1% from the residual for Sensing. No difference based on transmission choice.

randalkc

Thanks for the response Michaell. Here is what I got from my local dealer:

Accord LX Accord Sport
24 36 24 36
MSRP 23,840 23,840 25,900 25,900
Net Capitalized Cost 19,900 19,900 21,900 21,900
Daily Money Factor 0.00038 0.00038 0.00038 0.00038
Residual Value 15,019 13,589 16,892 14,763
Monthly Taxes ~24 ~24 ~24 ~24
Monthly Payment 278 233 325 280

Says it includes: $595 acquisition fee, $299 doc fee, and $4 title fee. Says all fees are included in the monthly given above. Only first month due at signing.

What do you think @Michaell ?