2016 Honda Accord Lease Questions

glenmetz

I did transpose the MF.

I'd have to ask the rep for the adjusted cap cost, could post it on Monday.

Rolling that much because I still have 8 payments left on my 2014 lease.

Michaell

glenmetz said:

I did transpose the MF.

I'd have to ask the rep for the adjusted cap cost, could post it on Monday.

Rolling that much because I still have 8 payments left on my 2014 lease.

Why are you wanting to end your lease early? That $2700 represents about $75 a month on your lease payment

glenmetz

I'm trying to end the lease early because I'll be far over the miles on turn in. Is there some better bargaining position I can take with them, I will.

gmanusmc

glenmetz said:

I'm trying to end the lease early because I'll be far over the miles on turn in. Is there some better bargaining position I can take with them, I will.

Just my opinion - buy out your current lease - keep car for a little while - sell it
privately - you'll be much further ahead financially. Like Michael said, about $75 a month on your new lease is dedicated to the negative equity from the old lease.

Michaell

glenmetz said:

I'm trying to end the lease early because I'll be far over the miles on turn in. Is there some better bargaining position I can take with them, I will.

Will the mileage changes be greater than $2700? If so, you may not be a candidate for leasing.

glenmetz

Mileage charges will not be over $2700. At my current rate, at turn in I'd be looking around $1500. I'd rather not keep this Accord long term, it has had various electrical issue I don't want to deal with. The next lease I'll be able to keep near the mileage due to some lifestyle changes. This car has been on far too many road trips.

If I turn it in after lease over miles, and there are issues with the car, am I on the hook for them?

Michaell

glenmetz said:

Mileage charges will not be over $2700. At my current rate, at turn in I'd be looking around $1500. I'd rather not keep this Accord long term, it has had various electrical issue I don't want to deal with. The next lease I'll be able to keep near the mileage due to some lifestyle changes. This car has been on far too many road trips.

If I turn it in after lease over miles, and there are issues with the car, am I on the hook for them?

Mechanical? Probably not, so long as the car runs well.

How did you end up with a lemon accord?

glenmetz

I wouldn't call this car a lemon, but it's had it's issues.

-TPMS sensor that won't shut off. Verified all tires are properly inflated with 2 different gages
-Random CHECK GAS CAP warnings. Tighten the cap. Twice this turned into a check again that required a trip to the shop
-Blower motor for A/C will randomly cycle it's power down, then back up
-Random issues with the USB port not connecting to my phone for audio functionality

This is my 3rd Accord, the only one I've had issues with.

I'm leaning towards rolling the dice in May when my lease is up.

Michaell

glenmetz said:

I wouldn't call this car a lemon, but it's had it's issues.

-TPMS sensor that won't shut off. Verified all tires are properly inflated with 2 different gages
-Random CHECK GAS CAP warnings. Tighten the cap. Twice this turned into a check again that required a trip to the shop
-Blower motor for A/C will randomly cycle it's power down, then back up
-Random issues with the USB port not connecting to my phone for audio functionality

This is my 3rd Accord, the only one I've had issues with.

I'm leaning towards rolling the dice in May when my lease is up.

For a Honda, that seems like a lot of problems.

poolboy6

Hi...I'm interested in leasing a 2016 Honda Accord Coupe EX-L with Sensing 
I'll be doing this in NE 68516 
I'll be turning in my 2014 Honda Accord Coupe EX-L that I leased 
What will my numbers look like for 12/36 - No Down?
i believe the MSRP is a little above $31,000
Thank You

Michaell

poolboy6 said:

Hi...I'm interested in leasing a 2016 Honda Accord Coupe EX-L with Sensing 
I'll be doing this in NE 68516 
I'll be turning in my 2014 Honda Accord Coupe EX-L that I leased 
What will my numbers look like for 12/36 - No Down?
i believe the MSRP is a little above $31,000
Thank You

Questions:

1. what is the adjusted cap cost on the new car?
2. Is your current lease over? If not, do you know if you have positive or negative equity?
3. Will you be paying the up front fees at signing, or adding them to the selling price?
4. 36/12 on the EX-L with sensing - .00038 and 53%. $1850 total lease cash.

EDIT - sorry, I didn't notice you were looking at the coupe. Same MF, but residual is only 51%

poolboy6

Michaell said:

Hi...I'm interested in leasing a 2016 Honda Accord Coupe EX-L with Sensing 
I'll be doing this in NE 68516 
I'll be turning in my 2014 Honda Accord Coupe EX-L that I leased 
What will my numbers look like for 12/36 - No Down?
i believe the MSRP is a little above $31,000
Thank You

Questions: 1. what is the adjusted cap cost on the new car? 2. Is your current lease over? If not, do you know if you have positive or negative equity? 3. Will you be paying the up front fees at signing, or adding them to the selling price? 4. 36/12 on the EX-L with sensing - .00038 and 53%. $1850 total lease cash. EDIT - sorry, I didn't notice you were looking at the coupe. Same MF, but residual is only 51%

I'm waiting on them of giving the adjusted cap on new car. I can get out of my lease anytime now as Honda Financing gave me on early release with no penalty or other costs. Probably add the fees to the seling price. 

glenmetz

How did you get an early release from Honda Financial?

poolboy6

my great credit I'm guessing 

2onleon

After 1.5 hours at the dealership I still couldn't come to an agreement, I need opinions on this 2016 Honda Accord Sport w/ Sens

Selling price 23700.00 includes drive off fees
OTD Price 25983.13

Down 1500
36 MO/ 12K 277.51
Residual is @ 14795

Thoughts please!? Thanks guys. Also, Is is true that you are required to have a down payment as a first time buyer?

Michaell

2onleon said:

After 1.5 hours at the dealership I still couldn't come to an agreement, I need opinions on this 2016 Honda Accord Sport w/ Sens

Selling price 23700.00 includes drive off fees
OTD Price 25983.13

Down 1500
36 MO/ 12K 277.51
Residual is @ 14795

Thoughts please!? Thanks guys. Also, Is is true that you are required to have a down payment as a first time buyer?

55% and .00038 for 36/12 on Sport w/ Sensing.

With your prices, I get $326/mo before tax.

What is added to the selling price to get the OTD price?

What does the $1500 cover?

If your credit is good enough, no reason to have a down payment on a lease if you are a first time buyer.

2onleon

I was just told a down payment was needed since it was my first time purchasing/leasing a car. Credit is a little over 700.

OTD price of 25983.15 included 1902.40 tax and 380.75 fees

Michaell

2onleon said:

I was just told a down payment was needed since it was my first time purchasing/leasing a car. Credit is a little over 700.

OTD price of 25983.15 included 1902.40 tax and 380.75 fees

What state is this?

2onleon

California

Michaell

2onleon said:

California

Then your quote is wrong -- CA taxes the lease payment monthly, not up front.

Ask the dealer for the 'adjusted cap cost' - this should clear things up.

ekh443

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

Michaell

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

.00038 and 56%.

Need the MSRP and adjusted cap cost in order to model a payment.

tonyg2016

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

i assume you mean 35 payments of 259 - that's a very good deal IF taxes and dmv are included
shoot for 255 but you might have to settle; 2016 stock is dwindling

ekh443

tonyg2016 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

i assume you mean 35 payments of 259 - that's a very good deal IF taxes and dmv are included shoot for 255 but you might have to settle; 2016 stock is dwindling

tonyg2016,

Yes, 35 payments including taxes and DMV. 

Thanks,
Eric

ekh443

Michaell said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

.00038 and 56%. Need the MSRP and adjusted cap cost in order to model a payment.

Michaell,

MSRP $24,840
Adj cap cost $21,678.45

what do you think?

thanks,
Eric

hanfam1210

Debating between a 2016 and 2017 Accord. What is the MF and the residual for a 2016 Accord Touring in Tampa with 36/12 and 36/15. Thanks! (I posted on the 2017 Accord in the other forum).

Michaell

ekh443 said:

Michaell said:

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

.00038 and 56%.

Need the MSRP and adjusted cap cost in order to model a payment.

Michaell,

MSRP $24,840
Adj cap cost $21,678.45

what do you think?

thanks,
Eric

I get $249/mo after tax with those prices.

I would confirm the adjusted cap cost - there's $360 missing somewhere.

Michaell

hanfam1210 said:

Debating between a 2016 and 2017 Accord. What is the MF and the residual for a 2016 Accord Touring in Tampa with 36/12 and 36/15. Thanks! (I posted on the 2017 Accord in the other forum).

.00036 and 50% / 48%. $1850 total lease cash.

laughin

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

Hi EKH443, I am also in Los Angeles and interested in the 2016 Accord LX CVT. Which dealer did you contact? How much lower can I go if I don't want the sensing model? Have you completed your lease and what was your final price?

Thanks.

kmstivers

Hello. Looking for the latest MF and Residual on the following:
2016 Accord Sport SE (MSRP $26,050 - Adj Cap $24,400)
2016 Accord Touring (MSRP $35,550 - Adj Cap $33,800)

12K or 15K mi lease and 24 or 36 months
Zip Code 45385

Estimated payment?

Michaell

kmstivers said:

Hello. Looking for the latest MF and Residual on the following:
2016 Accord Sport SE (MSRP $26,050 - Adj Cap $24,400)
2016 Accord Touring (MSRP $35,550 - Adj Cap $33,800)

12K or 15K mi lease and 24 or 36 months
Zip Code 45385

Estimated payment?

.00038

There is no Sport SE for 2016, just Sport - 62% / 56%; payment $359 / $287 (pre-tax)
Touring - 56% / 50%; payment $599 / $465 (pre-tax)

ekh443

laughin said:

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

Hi EKH443, I am also in Los Angeles and interested in the 2016 Accord LX CVT. Which dealer did you contact? How much lower can I go if I don't want the sensing model? Have you completed your lease and what was your final price?

Thanks.

I did complete my lease. I got it for $250 a month taxes included!

tonyg2016

ekh443 said:

laughin said:

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

I did complete my lease. I got it for $250 a month taxes included!

Great price for LX with Sensing especially considering the high tax rate and high DMV fees in Cali.
35 payments of 250 is an excellent deal - congrats!

gmanusmc

tonyg2016 said:

ekh443 said:

laughin said:

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

I did complete my lease. I got it for $250 a month taxes included!

Great price for LX with Sensing especially considering the high tax rate and high DMV fees in Cali.
35 payments of 250 is an excellent deal - congrats!

Tony - it's probably actually 36 months - on a zero drive off, the first payment is usually rolled into the cap cost - sometimes it's given back to the customer as a rebate. But technically, there is no 35 month lease.

ekh443

gmanusmc said:

tonyg2016 said:

ekh443 said:

laughin said:

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

I did complete my lease. I got it for $250 a month taxes included!

Great price for LX with Sensing especially considering the high tax rate and high DMV fees in Cali.
35 payments of 250 is an excellent deal - congrats!

Tony - it's probably actually 36 months - on a zero drive off, the first payment is usually rolled into the cap cost - sometimes it's given back to the customer as a rebate. But technically, there is no 35 month lease.

gmanusmc,

You both are correct, its a 36 month lease and they roll the first payment into the lease. I just signed and drove off. I will only be making 35 payments out of my pocket with the first one do in a month.

samj

First of all, thank you for this service. The information here has not only helped get a really good deal on a 2016 Accord EXL (no Nav), but also to verify and validate my payment figures (using Excel, Edmunds tutorial articles, and info in this forum) against the dealer's. I often found them to hide extra profit with the expectation that the consumer won't validate how the payment was derived. It's funny how they react when you catch them.

I have two questions:
1) For Accords, do cash incentives ($1,750 for Accords for example) differ between sale vs lease? When shopping, I went to dealer that offered the lowest sale price, expecting they would offer the lowest lease payment. But that didn't turn out to be the case. For example, one dealer offered around $24,500 - and I expected lease payment (0 drive off 36month lease) to be roughly about $280ish (recalling my numbers from memory - not Excel). But they could only offer $315. Another dealer based lease on a higher sale price (a little over $25k I think), but their payment was actually lower at $300. Ultimately, I went with another dealer that leased to me for $285/month (another $3/month for Honda Sentinel service contract). The sale price was about $24,700 and included the $500 college grad rebate.

2) I was surprised to find that my Honda lease contract included a disposition fee. Is this new? There was no disposition fee when my wife leased a 2012 Civic. Is this for all models or for only select models or color/trim combinations?

Thank you again for everything.

gmanusmc

ekh443 said:

gmanusmc said:

tonyg2016 said:

ekh443 said:

laughin said:

ekh443 said:

I have negotiated a 2016 Accord LX Sensing in Los Angeles (9% Tax). Zero drive off, first payment due in a month, 36 months, 12k miles per year for $259 taxes included. 

Im trying to push for $250 a month, but negotiations have stalled. Is this a good deal? 

I did complete my lease. I got it for $250 a month taxes included!

Great price for LX with Sensing especially considering the high tax rate and high DMV fees in Cali.
35 payments of 250 is an excellent deal - congrats!

Tony - it's probably actually 36 months - on a zero drive off, the first payment is usually rolled into the cap cost - sometimes it's given back to the customer as a rebate. But technically, there is no 35 month lease.

gmanusmc,

You both are correct, its a 36 month lease and they roll the first payment into the lease. I just signed and drove off. I will only be making 35 payments out of my pocket with the first one do in a month.

Hey - any way you look at it, you got a great deal on a great car - congrats and enjoy the new Accord!

tonyg2016

samj said:

I have two questions:
1) For Accords, do cash incentives ($1,750 for Accords for example) differ between sale vs lease?

yes, incentives also vary by trim level AND can change at any time
lease cash until 9/6:
ex and below: 1350
ex-l and above: 1850

2) I was surprised to find that my Honda lease contract included a disposition fee. Is this new? There was no disposition fee when my wife leased a 2012 Civic. Is this for all models or for only select models or color/trim combinations?

Honda added disposition fee in the past few years - can't remember exactly when

"Ultimately, I went with another dealer that leased to me for $285/month (another $3/month for Honda Sentinel service contract)."

you didn't mention what state you are. regardless 285/mo with zero driveoff is excellent for an EX-L

btw, why the service contract on a lease? what does it cover that the 3yr/36k B2B warranty doesn't...
$3 per month is crazy low anyway

Michaell

samj said:

First of all, thank you for this service. The information here has not only helped get a really good deal on a 2016 Accord EXL (no Nav), but also to verify and validate my payment figures (using Excel, Edmunds tutorial articles, and info in this forum) against the dealer's. I often found them to hide extra profit with the expectation that the consumer won't validate how the payment was derived. It's funny how they react when you catch them.

I have two questions:
1) For Accords, do cash incentives ($1,750 for Accords for example) differ between sale vs lease? When shopping, I went to dealer that offered the lowest sale price, expecting they would offer the lowest lease payment. But that didn't turn out to be the case. For example, one dealer offered around $24,500 - and I expected lease payment (0 drive off 36month lease) to be roughly about $280ish (recalling my numbers from memory - not Excel). But they could only offer $315. Another dealer based lease on a higher sale price (a little over $25k I think), but their payment was actually lower at $300. Ultimately, I went with another dealer that leased to me for $285/month (another $3/month for Honda Sentinel service contract). The sale price was about $24,700 and included the $500 college grad rebate.

2) I was surprised to find that my Honda lease contract included a disposition fee. Is this new? There was no disposition fee when my wife leased a 2012 Civic. Is this for all models or for only select models or color/trim combinations?

Thank you again for everything.

1. Yes, different incentives exist for lease vs. purchase
2. Most brands now have a disposition fee at the end of the lease if you turn the car in and do not lease from the same brand

raben217

I got a offered deal for a 2016 honda accord EX-L. The numbers add up to $299 a month, including 6% tax. ( $282 plus tax ) first month payment only paid upfront ( $299 ) leaving 35 payments left on a 36 month, 15k year miles.
Think I am going to take it. MF and residual do add up to the numbers given.

tonyg2016

raben217 said:

I got a offered deal for a 2016 honda accord EX-L. The numbers add up to $299 a month, including 6% tax. ( $282 plus tax ) first month payment only paid upfront ( $299 ) leaving 35 payments left on a 36 month, 15k year miles.
Think I am going to take it. MF and residual do add up to the numbers given.

what state?
doc and dmv fees included in the 299? if so, good deal!

raben217

Florida, and  all fees are included in that price. I would only pay $299 for the first month payment and that's it. No other money out of pocket.  

samj

tonyg2016 said:

samj said:

I have two questions:
1) For Accords, do cash incentives ($1,750 for Accords for example) differ between sale vs lease?

yes, incentives also vary by trim level AND can change at any time
lease cash until 9/6:
ex and below: 1350
ex-l and above: 1850

2) I was surprised to find that my Honda lease contract included a disposition fee. Is this new? There was no disposition fee when my wife leased a 2012 Civic. Is this for all models or for only select models or color/trim combinations?

Honda added disposition fee in the past few years - can't remember exactly when

"Ultimately, I went with another dealer that leased to me for $285/month (another $3/month for Honda Sentinel service contract)."

you didn't mention what state you are. regardless 285/mo with zero driveoff is excellent for an EX-L

btw, why the service contract on a lease? what does it cover that the 3yr/36k B2B warranty doesn't...
$3 per month is crazy low anyway

-I'm in Southern California.
-Yeah I don't normally buy service contracts as their rip offs, and certainly not at their initial quote of nearly $800 for a bare bone Honda Sentinel contract that only covered oil changes and tire repair. When I mentioned that I would spend probably spend $150 on dealer oil changes with dealer coupons over the life of lease, they mumbled amongst themselves and offered it for $3 and change per month - which amounts to roughly about $150. So I took it!

samj

Michaell said:

samj said:

First of all, thank you for this service. The information here has not only helped get a really good deal on a 2016 Accord EXL (no Nav), but also to verify and validate my payment figures (using Excel, Edmunds tutorial articles, and info in this forum) against the dealer's. I often found them to hide extra profit with the expectation that the consumer won't validate how the payment was derived. It's funny how they react when you catch them.

I have two questions:
1) For Accords, do cash incentives ($1,750 for Accords for example) differ between sale vs lease? When shopping, I went to dealer that offered the lowest sale price, expecting they would offer the lowest lease payment. But that didn't turn out to be the case. For example, one dealer offered around $24,500 - and I expected lease payment (0 drive off 36month lease) to be roughly about $280ish (recalling my numbers from memory - not Excel). But they could only offer $315. Another dealer based lease on a higher sale price (a little over $25k I think), but their payment was actually lower at $300. Ultimately, I went with another dealer that leased to me for $285/month (another $3/month for Honda Sentinel service contract). The sale price was about $24,700 and included the $500 college grad rebate.

2) I was surprised to find that my Honda lease contract included a disposition fee. Is this new? There was no disposition fee when my wife leased a 2012 Civic. Is this for all models or for only select models or color/trim combinations?

Thank you again for everything.

1. Yes, different incentives exist for lease vs. purchase
2. Most brands now have a disposition fee at the end of the lease if you turn the car in and do not lease from the same brand

-Thank you for the clarification.
-Yeah now I see on Edmunds Incentive section that 1250 is cash incentive (for purchase and lease) and there is extra $600 for lease. So for EX models and up with 1850 (1750 at time of my purchase), the total cash back would've been 2450 presumably? I've wondered if bigger dealers get more cash back based on volume, so I went to bigger dealers to negotiate hard. The smaller dealers just wouldn't budge.

lopml22

Lease numbers for EXL same for this month? In Southern California

Michaell

lopml22 said:

Lease numbers for EXL same for this month? In Southern California

Honda numbers are valid until 9/6. New program available after that.

mistryk007

I have an offer on 2016 Accord EX-L with Navi and Honda Sensing. The lease terms at 36 months, $1000 down, 15k miles. The MSRP online is $31,505. It is being offered to me at $345 a month with taxes. Is this a good deal?

Michaell

mistryk007 said:

I have an offer on 2016 Accord EX-L with Navi and Honda Sensing. The lease terms at 36 months, $1000 down, 15k miles. The MSRP online is $31,505. It is being offered to me at $345 a month with taxes. Is this a good deal?

.00038 and 51%. $1850 total lease cash.

What is the adjusted cap cost? What state and tax rate is this?

mistryk007

Its in Seattle, WA with tax rate of 9.5%.

mistryk007

I dont know the cap cost. The sales guy said i have today to think about the $345 a month, inclusive of all taxes, plus $1000 down for 15k miles a year. This is for the 2016 Accord EX-L with Navi and Sensing.