2016 Honda Accord Lease Questions

Michaell

mistryk007 said:

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.

Without knowing the cap cost, I can't really comment. If the dealer doesn't want to share them, is that a dealer you want to work with?

The Honda numbers expire today; new program starts tomorrow.

mistryk007

Hi Michaell...its not that the dealer isnt willing to share, I've just asked them today so lets see what they say. Is the new program going to be better? Is it worth waiting for.

Michaell

mistryk007 said:

Hi Michaell...its not that the dealer isnt willing to share, I've just asked them today so lets see what they say. Is the new program going to be better? Is it worth waiting for.

Ah, OK.

No insight as to what the new numbers might bring. I suppose it depends on how much 2016 Accord inventory there is.

mistryk007

In your experience will they still offer the old deal even if the new deal isnt favorable?

Michaell

mistryk007 said:

In your experience will they still offer the old deal even if the new deal isnt favorable?

No, the numbers released tomorrow will replace those of today. For better ... or worse. If you don't sign today, the prices will likely be valid, but they'll have to use the new lease factors for MF and residual, along with any change in the lease incentives.

mistryk007

MF is 0.00038 and residual is $16,697 which is 53% of $31,505

Michaell

mistryk007 said:

MF is 0.00038 and residual is $16,697 which is 53% of $31,505

Those are correct, at the moment. Also, $1850 lease cash, which I'm sure is factored into the selling price.

mistryk007

again...with 15k miles

Michaell

mistryk007 said:

again...with 15k miles

Yes.

mistryk007

$27720 + $595 acq. fee.

Michaell

mistryk007 said:

$27720 + $595 acq. fee.

Thanks ... OK, to recap:

$31,505 MSRP
$28,315 Adjusted cap cost
.00038 MF
53% residual

With those numbers, I get $340/mo. Not too far off from your quote of $345/mo. My calculation is pre-tax; is your quote pre-tax as well?

mistryk007

its $344 with taxes for 15k miles. $1780 down which includes first month payment, and misc fees. Is this a good deal? I am being told this is too much for what I am getting. Its a 2016 Honda EX-L with Navi and Sensing.

Michaell

mistryk007 said:

its $344 with taxes for 15k miles. $1780 down which includes first month payment, and misc fees. Is this a good deal? I am being told this is too much for what I am getting. Its a 2016 Honda EX-L with Navi and Sensing.

My calculation was without taxes.

What is the full breakdown of the $1780?

Being told .. by who?

tonyg2016

pls confirm residual % for 15k lease; i was using 51%

Michaell

tonyg2016 said:

pls confirm residual % for 15k lease; i was using 51%

EX-L Nav 36/15 53%

tonyg2016

well, i guess weymouth can be off - that's where i got 51% for the 2016 ex-l with nav/sensing at 15k miles/yr
still means her quote is even higher than i first calculated

mistryk007

I didnt accept the deal yesterday, assuming that there would be a better deal from Honda today on the lease. Do you have updated numbers on lease offers, residual, etc. for 2016 Accord EX-L with Navi and Sensing for 36 months, 15K...Thanks in advance.

Michaell

mistryk007 said:

I didnt accept the deal yesterday, assuming that there would be a better deal from Honda today on the lease. Do you have updated numbers on lease offers, residual, etc. for 2016 Accord EX-L with Navi and Sensing for 36 months, 15K...Thanks in advance.

Not yet. If we're lucky, later today.

mistryk007

Hi Michaell..any update on the lease terms from Honda.

Michaell

mistryk007 said:

Hi Michaell..any update on the lease terms from Honda.

Not yet.

mistryk007

I went to a new honda dealer and here are my numbers: MSRP = $29,505, Selling price: $26,005, Residual = 52%, Residual amount is: $15,342.60 and the MF is 0.0002. 36 month lease for 15k miles. I would put $1500 down and the payment is around $330.35. I am in Seattle, WA with tax of around 9.5%. Is this a good deal? or at least reasonable?

Michaell

mistryk007 said:

I went to a new honda dealer and here are my numbers: MSRP = $29,505, Selling price: $26,005, Residual = 52%, Residual amount is: $15,342.60 and the MF is 0.0002. 36 month lease for 15k miles. I would put $1500 down and the payment is around $330.35. I am in Seattle, WA with tax of around 9.5%. Is this a good deal? or at least reasonable?

I get $333.37/mo with those numbers, so your deal looks pretty good.

I confirm the .00020 MF and 52% residual.

tonyg2016

" Is this a good deal? or at least reasonable?"
no and no
sell price is too high - seattle is not good for honda deals

1500 down, 270ish
zero down, 315ish

Michaell

tonyg2016 said:

" Is this a good deal? or at least reasonable?"
no and no
sell price is too high - seattle is not good for honda deals

1500 down, 270ish
zero down, 315ish

@mistryk007 - I would suggest you head over to the "Accord Prices Paid" discussion to see what type of pricing you should shoot for ...

http://forums.edmunds.com/discussion/37154/honda/accord/2016-honda-accord-prices-paid-and-buying-experience#latest

Get both @stever and @brian125 to weigh in on your prices for your neck of the woods. Every $1000 you save on the selling price translates to about $28/mo on the lease payment.

tonyg2016

Michaell said:

I get $333.37/mo with those numbers, so your deal looks pretty good.

I confirm the .00020 MF and 52% residual.

is there still 1850 lease cash for accord ex-l?

Michaell

tonyg2016 said:

Michaell said:

I get $333.37/mo with those numbers, so your deal looks pretty good.

I confirm the .00020 MF and 52% residual.

is there still 1850 lease cash for accord ex-l?

Yes/

tonyg2016

using her numbers AND 1500 ccr i get 305.66; you get 333.37?
msrp 29505
52% res
mf .00020
acq 595
sell 26005 (includes the 1850)
9.5 tax rate on payments
perhaps my ss needs a tune-up?

vpegany1

Can I get September  residual for 36/12k for 2016 Accord Coupe EXL V6 and 4 cyl

Michaell

tonyg2016 said:

using her numbers AND 1500 ccr i get 305.66; you get 333.37?
msrp 29505
52% res
mf .00020
acq 595
sell 26005 (includes the 1850)
9.5 tax rate on payments
perhaps my ss needs a tune-up?

Probably not; I just used the selling price as the cap cost.

Michaell

vpegany1 said:

Can I get September  residual for 36/12k for 2016 Accord Coupe EXL V6 and 4 cyl

.00020 and 52% (EXL 4) or 51% (EXL V6)

$1850 total lease cash

Kirstie_H

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shahidsk

Hi,

Need your feedback on the below numbers for 2016 Honda Accord LX without sensing in Michigan
MSRP: 23850
Residual: 13112 ( I think it comes to 55%, is that right in MI)
MF: 0.0002

Negotiated to:

Montly Payment of $179 for 36 months/12K.
Down payment : $1500 ( covers the 1st payment + all other taxes + Registration + doc fees + title + Aquisition fee etc). No other amount to be paid.

Is this the best deal I can get or do you think there is room to do better?

Michaell

shahidsk said:

Hi,

Need your feedback on the below numbers for 2016 Honda Accord LX without sensing in Michigan
MSRP: 23850
Residual: 13112 ( I think it comes to 55%, is that right in MI)
MF: 0.0002

Negotiated to:

Montly Payment of $179 for 36 months/12K.
Down payment : $1500 ( covers the 1st payment + all other taxes + Registration + doc fees + title + Aquisition fee etc). No other amount to be paid.

Is this the best deal I can get or do you think there is room to do better?

I confirm the .00020 MF and 55% residual.

What is the adjusted cap cost? That's the only place where you can improve on this deal.

But, $179/mo (before or after tax?) is a pretty good payment for a $24K car.

shahidsk

Hi, it's $179 including the tax. I do not know what the adjusted cap cost and the cap cost reduction is. They just gave me this deal of $1500 + $179 payment for 35 months

Michaell

shahidsk said:

Hi, it's $179 including the tax. I do not know what the adjusted cap cost and the cap cost reduction is. They just gave me this deal of $1500 + $179 payment for 35 months

Looks pretty solid.

taxi_driver

MF/RV for 2016 Accord Coupe EX-L (auto) and Touring; 36mo/15k mileage please

Michaell

taxi_driver said:

MF/RV for 2016 Accord Coupe EX-L (auto) and Touring; 36mo/15k mileage please

V6 EX-L?

.00020 and 49% (EX-L) or 46% (Touring). $1850 total lease cash.

julio91

Good morning; may I have the mf and residual for 2016 and 2017 Honda Accord sport and sport se (automatic/sedan)
In Miami, Florida for :
24 months /12k and 15k 
36 months / 12k and 15k 
As well as any incentives for each model year.

@kyfdx

@Michaell

Michaell

julio91 said:

Good morning; may I have the mf and residual for 2016 and 2017 Honda Accord sport and sport se (automatic/sedan)
In Miami, Florida for :
24 months /12k and 15k 
36 months / 12k and 15k 
As well as any incentives for each model year.

@kyfdx

@Michaell

2016:

.00020 MF and 60% (24/15) or 53% (36/15)

$1350 lease cash.

2017 discussion is here:

http://forums.edmunds.com/discussion/41875/honda/accord/2017-honda-accord-lease-questions#latest

taxi_driver

Michaell said:

taxi_driver said:

MF/RV for 2016 Accord Coupe EX-L (auto) and Touring; 36mo/15k mileage please

V6 EX-L?

.00020 and 49% (EX-L) or 46% (Touring). $1850 total lease cash.

yes to V6

taxi_driver

surprised to see such low residuals on Accords..

Michaell

taxi_driver said:

surprised to see such low residuals on Accords..

High trim levels generally have lower residuals.

And, at the end of the 2016 model year, the residuals are at their lowest point.

shahidsk

Got this deal in Michigan:

Selling Price : 19356 ( net adjusted cap amount)
Residual: 13112 (55%)
MF: 0.0002 (.48% APR)

Total payment including tax + interest: $189
No down payment
one time payment of: 595 ( Acquisition)+ 457 ( 1st payment + doc fees + title + registration.

does this look good?

kyfdx

shahidsk said:

Got this deal in Michigan:

Selling Price : 19356 ( net adjusted cap amount)
Residual: 13112 (55%)
MF: 0.0002 (.48% APR)

Total payment including tax + interest: $189
No down payment
one time payment of: 595 ( Acquisition)+ 457 ( 1st payment + doc fees + title + registration.

does this look good?

I get $179/mo.+tax.
Why not roll the $595 fee into the lease?
That makes it $197/mo.+tax (about $208/mo) with $475 due at signing.

Looks like a really good deal.

shahidsk

Thanks for the response. If I add the Acquisition fee to the selling price, wouldn't that involve including the charge of Interest (basing on the new Net Adjusted cap cost of 19356 + 595 )and Tax of 6% on that 595 rolled into monthly payments. If that is true may be the 595 would look like 630 over 3 years?

kyfdx

shahidsk said:

Thanks for the response. If I add the Acquisition fee to the selling price, wouldn't that involve including the charge of Interest (basing on the new Net Adjusted cap cost of 19356 + 595 )and Tax of 6% on that 595 rolled into monthly payments. If that is true may be the 595 would look like 630 over 3 years?

The $595 will get taxed, either way. If you pay it upfront, you'll pay tax on it, upfront.

Interest is equivalent to 1/2% APR. The total cost before tax of rolling the $595 in is $599.04.
The $595 is taxed, even if you pay it upfront, so the extra $4.04 adds $0.24 to tax... total cost to roll it in is $4.28.

Of course, you have to figure the lost "opportunity cost" of money paid upfront, which would reduce the difference, as well.

automan822

Can I get the numbers (Res., MF) on the Accord Sedan EX-L V6, No Nav. in Los Angeles
Thanks

Michaell

automan822 said:

Can I get the numbers (Res., MF) on the Accord Sedan EX-L V6, No Nav. in Los Angeles
Thanks

What lease term and how many miles per year?

automan822

36/15

Michaell

automan822 said:

Can I get the numbers (Res., MF) on the Accord Sedan EX-L V6, No Nav. in Los Angeles
Thanks

automan822 said:

36/15

51% and .00020. $1850 total lease cash.