2016 Honda Accord Lease Questions

Michaell

westmi1 said:

Do you have March MF/Residual for a EX-L - Tier 1 credit. Current lease is up in two weeks.

Thanks!

What mileage / term?

Michaell

mdchem11 said:

Sorry, 36 month/15k

kyfdx said:

mdchem11 said:

Are march numbers for an EX-L or EX-L V6 (sedan) the same for March as they were for February?

What mileage/term?

.00051 and 54% (EX-L) or 53% (EX-L V6). $1000 lease cash.

Michaell

artsavedme said:

Michaell,

Thanks for the data. Just signed a 39mo 12k/yr lease with zero money out with first payment by Honda on a 2016 Accord LX CVT sedan.

$23,725 MSRP
$20,388 Sales Price
$22,279 Gross Cap Cost (TTL and fees)
0.00041 MF (0.9% APR)
57% Residual

38 payments of $238 for a 39 mo/lease!

Congrats! Enjoy the new Accord ...

westmi1

Michaell said:

westmi1 said:

Do you have March MF/Residual for a EX-L - Tier 1 credit. Current lease is up in two weeks.

Thanks!

What mileage / term?

Sorry - 36 months 12,000/year.

kyfdx

mdchem11 said:

Sorry, 36 month/15k

kyfdx said:

mdchem11 said:

Are march numbers for an EX-L or EX-L V6 (sedan) the same for March as they were for February?

What mileage/term?

.00051 MF and $1500 lease cash. 54%/53% residual for 4/6 cylinder.

matthewm

Hello. What are the MF and Residual for a 2016 Accord EX sedan in Chicago, 36/12? Also, what is the lease cash amount? Thanks very much!

tonyg2016

What are the MF and Residual for a 2016 Accord LX sedan in Ohio, 36/12k? 10k?

Michaell

matthewm said:

Hello. What are the MF and Residual for a 2016 Accord EX sedan in Chicago, 36/12? Also, what is the lease cash amount? Thanks very much!

.00051 and 57%. $1000 lease cash and $250 bonus lease cash.

Michaell

tonyg2016 said:

What are the MF and Residual for a 2016 Accord LX sedan in Ohio, 36/12k? 10k?

36/12 - .00051 and 57%. No 10K leases from Honda.

$1000 lease cash and $250 bonus lease cash.

plina

Does anyone have for March the money factor and residual for a 2016 Accord touring? Thanks

Michaell

plina said:

Does anyone have for March the money factor and residual for a 2016 Accord touring? Thanks

.00051 MF

What lease term and miles per year?

tonyg2016

Michaell said:

tonyg2016 said:

What are the MF and Residual for a 2016 Accord LX sedan in Ohio, 36/12k? 10k?

36/12 - .00051 and 57%. No 10K leases from Honda.

$1000 lease cash and $250 bonus lease cash.

thank you michael; why the breakout on the two lease cash? is there a time difference or are both good for the month? also, no more promo 39 month lease?

kyfdx

tonyg2016 said:

Michaell said:

tonyg2016 said:

What are the MF and Residual for a 2016 Accord LX sedan in Ohio, 36/12k? 10k?

36/12 - .00051 and 57%. No 10K leases from Honda.

$1000 lease cash and $250 bonus lease cash.

thank you michael; why the breakout on the two lease cash? is there a time difference or are both good for the month? also, no more promo 39 month lease?

That's the way Honda breaks it out. Both good through 04/04/2016.

No more 39 month promo. (residuals are -2% compared to 36 months)

westmi1

Hello. Leasing a EX-L 4 cyl - 12,000/year for 36 months. Can you provide MF/residual and lease cash available?

Thanks!

Michaell

westmi1 said:

Hello. Leasing a EX-L 4 cyl - 12,000/year for 36 months. Can you provide MF/residual and lease cash available?

Thanks!

.00051 and 56%. $1000 lease cash and $500 bonus lease cash.

mdchem11

I was at a dealer this morning and tried to use the numbers generated by lease guide. There was a discrepancy in the amount of taxes. I am in Maryland and most of the stuff I see says the monthly payment is the only thing that is taxed, but they are charging for the entire sales price. Article on lease guide does not have my state as one that charges on entire amount. Even state tax website says
"11 - Does the sales and use tax apply to rentals of tangible personal property?

Yes. Under the Maryland sales and use tax law, each rental or lease payment is treated as a sale and is subject to the 6 percent tax rate."

Michaell or kyfdx - does anyone know for sure what is what?

kyfdx

mdchem11 said:

I was at a dealer this morning and tried to use the numbers generated by lease guide. There was a discrepancy in the amount of taxes. I am in Maryland and most of the stuff I see says the monthly payment is the only thing that is taxed, but they are charging for the entire sales price. Article on lease guide does not have my state as one that charges on entire amount. Even state tax website says
"11 - Does the sales and use tax apply to rentals of tangible personal property?

Yes. Under the Maryland sales and use tax law, each rental or lease payment is treated as a sale and is subject to the 6 percent tax rate."

Michaell or kyfdx - does anyone know for sure what is what?

As far as we know, Maryland charges 6% tax on the full selling price, which is paid upfront. Of course, the leasing bank will pay it, then roll that amount into the CAP cost, if you wish.

Maryland hasn't always been this way, so perhaps the cited document is out of date.

mdchem11

Thanks for that. Just to be clear - taxed on sale price (less rebates or incentives?), not MSRP.

medved55

good afternoon,

looking for MF and residual for EX-L v6, EX-L 4c, sport and touring accord

36 months, 12k miles in MA

also lease chash is up to 1500 total?

numbers for march please and thnak you

kyfdx

mdchem11 said:

Thanks for that. Just to be clear - taxed on sale price (less rebates or incentives?), not MSRP.

Taxed on net price + acquisition fee + customer rebates + dealer doc fees (probably)

Not on MSRP

Michaell

medved55 said:

good afternoon,

looking for MF and residual for EX-L v6, EX-L 4c, sport and touring accord

36 months, 12k miles in MA

also lease chash is up to 1500 total?

numbers for march please and thnak you

.00051 and $12500 lease cash for the Sport, $1500 lease cash for EX-L and Touring

36/12 residuals:
Sport - 57%
EX-L - 56%
EX-L V6 - 55%
Touring - 51%

medved55

thank you very much!

mtrinidad

Good afternoon 

Can you please post the MF and residual on the accord touring 2016 36 months 12,000 miles in NJ. Thanks in advance. 

tonyg2016

scroll up 2 posts

tonyg2016

mtrinidad said:

Good afternoon 

Can you please post the MF and residual on the accord touring 2016 36 months 12,000 miles in NJ. Thanks in advance. 

from weymouth honda for comparison to NJ deals (excludes tax and fees)
MSRP incl. destination
$35,515.00
Lease Price
$29,838.35
Residual
$18,112.65 (51% of MSRP)
Monthly Lease Payment
$367.00
$367.00 including 0.00% tax

mtrinidad

tonyg2016 said:

Good afternoon 

Can you please post the MF and residual on the accord touring 2016 36 months 12,000 miles in NJ. Thanks in advance. 

from weymouth honda for comparison to NJ deals (excludes tax and fees) MSRP incl. destination $35,515.00 Lease Price $29,838.35 Residual $18,112.65 (51% of MSRP) Monthly Lease Payment $367.00 $367.00 including 0.00% tax

thanks 

mtrinidad

Thanks 

medved55

how does adding packages to the EX-L v6 work for residual value? does it lower it by a percentage? (thinking of adding tech package )

tonyg2016

medved55 said:

how does adding packages to the EX-L v6 work for residual value? does it lower it by a percentage? (thinking of adding tech package )

using weymouth data: 55% base, 53% with nav/sensing

kyfdx

medved55 said:

how does adding packages to the EX-L v6 work for residual value? does it lower it by a percentage? (thinking of adding tech package )

Yes.. if you mean NAV/sensing, then it lowers the residual by 2%, as @tonyg2016 noted.

That makes for a very expensive option on a lease.. $40-$50/mo.

mdchem11

Just wanted to say thanks to Michaell and kyfdx for all their help and information.
Finalized a lease on Friday.
2016 Honda EX-L
Sale price: 23500 (included all incentives)
36 months/15k miles per year.
I think they gave me the 0.00041 MF
Maryland has you pay all taxes upfront ($1458) which I found out after my initial visit.
Monthly: 297.32 with 0 down.

tonyg2016

sounds like a killer deal! btw, was the 1458 tax included in the 297 monthly?

Michaell

mdchem11 said:

Just wanted to say thanks to Michaell and kyfdx for all their help and information.
Finalized a lease on Friday.
2016 Honda EX-L
Sale price: 23500 (included all incentives)
36 months/15k miles per year.
I think they gave me the 0.00041 MF
Maryland has you pay all taxes upfront ($1458) which I found out after my initial visit.
Monthly: 297.32 with 0 down.

If you do a $0 'sign and drive' lease, the MF is reduced by .00010.

Congrats and enjoy the new Accord!

mdchem11

tonyg2016 - yes and adding to my previous post, that was tax on the agreed sales price + taxable fees (24300 i think)

itzzsanjay

Could I please have the numbers for 36 mo / 15k on an EX-L coupe in Florida? w/ and w/o honda sensing please.

Thanks

tocnewjersey

New here, great info.

All residuals here are based on 12k/15k, however I was wondering about high mileage leases like 25k. Can anyone shed light on residual values for the higher mileage?

Thank you in advance!

itzzsanjay

Michaell said:

westmi1 said:

Hello. Leasing a EX-L 4 cyl - 12,000/year for 36 months. Can you provide MF/residual and lease cash available?

Thanks!

.00051 and 56%. $1000 lease cash and $500 bonus lease cash.

Is the lease cash and bonus lease cash different from bonus cash that gets paid from factory to dealer?

Thanks,
Sanjay

Michaell

itzzsanjay said:

Could I please have the numbers for 36 mo / 15k on an EX-L coupe in Florida? w/ and w/o honda sensing please.

Thanks

.00051 and $1500 lease cash.

52% for EX-L; 50% for EX-L w/ sensing.

Michaell

itzzsanjay said:

Michaell said:

westmi1 said:

Hello. Leasing a EX-L 4 cyl - 12,000/year for 36 months. Can you provide MF/residual and lease cash available?

Thanks!

.00051 and 56%. $1000 lease cash and $500 bonus lease cash.

Is the lease cash and bonus lease cash different from bonus cash that gets paid from factory to dealer?

Thanks,
Sanjay

No, I believe it's one and the same.

Michaell

tocnewjersey said:

New here, great info.

All residuals here are based on 12k/15k, however I was wondering about high mileage leases like 25k. Can anyone shed light on residual values for the higher mileage?

Thank you in advance!

Miles above 15,000 are charged at a per mile rate (between .15-.25) and deducted from the calculated residual.

Example:

$30K MSRP and 60% residual. Normal residual value is $18K.

If you want 25K per year (30K extra total for a 36 month lease) and the per mile rate is .20/mile, deduct $6000 from the $18K residual to get the adjusted residual of $12K.

If you are driving that many miles per year, it's probably better to just buy outright. Hondas hold their value pretty well; you could sell after 3 years and 75,000 miles for a price higher than the buyout of the lease.

tocnewjersey

Michaell said:

tocnewjersey said:

New here, great info.

All residuals here are based on 12k/15k, however I was wondering about high mileage leases like 25k. Can anyone shed light on residual values for the higher mileage?

Thank you in advance!

Miles above 15,000 are charged at a per mile rate (between .15-.25) and deducted from the calculated residual.

Example:

$30K MSRP and 60% residual. Normal residual value is $18K.

If you want 25K per year (30K extra total for a 36 month lease) and the per mile rate is .20/mile, deduct $6000 from the $18K residual to get the adjusted residual of $12K.

If you are driving that many miles per year, it's probably better to just buy outright. Hondas hold their value pretty well; you could sell after 3 years and 75,000 miles for a price higher than the buyout of the lease.

Great info. Thank you.

tonyg2016

Michaell said:

If you are driving that many miles per year, it's probably better to just buy outright. Hondas hold their value pretty well; you could sell after 3 years and 75,000 miles for a price higher than the buyout of the lease.

Completely agree with Michael that leasing is not for someone driving 25k miles per year; buy the Accord

tweet6586

I am getting ready to turn in my 2013 Accord EX-L Sedan (4 cylinder) and I will lease a 2016 Accord EX-L Sedan (4 cylinder). I am under my mileage allowance at 29k versus 36k allowed. One dealer is telling me I have lease equity. Anyone turn in a lease recently and get their lease equity applied to reduce the cost of new lease? If so, how much equity did you get? Any guesses as to the amount of lease equity I have for being 7k under miles, and car is in excellent condition. Also what is invoice price on the 2016? Seems like I should be getting invoice - $1,500 in incentives for selling price + $595 lease acquisition fee - any equity + taxes to get to my cap cost.

Michaell

tweet6586 said:

I am getting ready to turn in my 2013 Accord EX-L Sedan (4 cylinder) and I will lease a 2016 Accord EX-L Sedan (4 cylinder). I am under my mileage allowance at 29k versus 36k allowed. One dealer is telling me I have lease equity. Anyone turn in a lease recently and get their lease equity applied to reduce the cost of new lease? If so, how much equity did you get? Any guesses as to the amount of lease equity I have for being 7k under miles, and car is in excellent condition. Also what is invoice price on the 2016? Seems like I should be getting invoice - $1,500 in incentives for selling price + $595 lease acquisition fee - any equity + taxes to get to my cap cost.

If you do a lease return, the equity doesn't matter.

However, if you trade it in, then the equity can be tapped into. But, then there are tax implications to consider. Nothing serious, but something to be aware of.

That said, we do not recommend using lease equity as down payment on a lease - if the new car is stolen or totaled, you lose that money.

plina

Sorry accordTouring 3/36000 MF and Residual

kyfdx

plina said:

Sorry accordTouring 3/36000 MF and Residual

.00051 MF and 51% residual. $1000 lease cash + $500 bonus lease cash

rickyt503

Hey guys, anyone have numbers for a 36/39 (if its even offered anymore) month lease 12k and 15k miles on a Sport Model (no sensing) in SoCal, and what are the current incentives?
Also, what credit score would be needed for the best MF? I'm around the 750-760 range.

Michaell

rickyt503 said:

Hey guys, anyone have numbers for a 36/39 (if its even offered anymore) month lease 12k and 15k miles on a Sport Model (no sensing) in SoCal, and what are the current incentives?
Also, what credit score would be needed for the best MF? I'm around the 750-760 range.

55% for 36/15. Add 2% for 12K; subtract 2% for 39 months.

.00051 MF and $1250 lease cash.

Your credit score is good enough for the best MF.

tweet6586

I was able to get $300/month for 36 month 12k annual miles today on a Accord EX-L MSRP $29,505. Breakdown was $25,400 for car + $595 acquistion + $700 in sales taxes. 56% residual .00041 Money Factor. Sign and Drive no payment for first month.

They would not give me any equity on my 2013 Accord EX-L lease, I had 29k miles, $16,700 was the buyout and two payments of $325 remaining. Felt like I left some lease equity on the table. Dealership needs to make some money too.

In and out in a couple of hours. New car is fantastic, apple car play is great, I like the 2016 front and rear design better than the 2013, but still not sure if the 2016 rims are my style.

Any thoughts on this deal?

Michaell

tweet6586 said:

I was able to get $300/month for 36 month 12k annual miles today on a Accord EX-L MSRP $29,505. Breakdown was $25,400 for car + $595 acquistion + $700 in sales taxes. 56% residual .00041 Money Factor. Sign and Drive no payment for first month.

They would not give me any equity on my 2013 Accord EX-L lease, I had 29k miles, $16,700 was the buyout and two payments of $325 remaining. Felt like I left some lease equity on the table. Dealership needs to make some money too.

In and out in a couple of hours. New car is fantastic, apple car play is great, I like the 2016 front and rear design better than the 2013, but still not sure if the 2016 rims are my style.

Any thoughts on this deal?

Looks to be a pretty solid deal for a lot of car.

Enjoy the new Accord, and thanks for checking in and sharing your deal details with us.