2017 Honda Accord Lease Deals and Prices

Michaell

daniella812 said:

In PA, what would RV and MF be for 35/15 EX-L? Thank you!!

56%. Same MF and incentives.

Michaell

mmendoza2 said:

Good Morning,

May I please have the MF and residual % for the following cars in South Florida:

2017 Accord Sport SE - 36/12 and 36/15

2017 Accord Touring - 36/12 and 36/15

Lease cash/incentives?

36/15 - .00070 and 56% (Sport SE) or 49% (Touring). Add 2% for 12K

$1500 total lease cash.

jimmybrady

Can I have the MF and residual for a 2017 Accord coupe Manual Ex-L. 36k/15k. Michigan

kyfdx

jimmybrady said:

Can I have the MF and residual for a 2017 Accord coupe Manual Ex-L. 36k/15k. Michigan

.00070 MF and 52% residual.
$1000 dealer cash + $500 bonus lease cash

magnavra

How is this deal? Market: Missouri

2017 Accord Sport (CVT)
MSRP 26050
Discount 4,500
Price: 21550
Doc 199 / Non Tax Fees 112.50
Net: 21861.50

3yr/12k - PMT 265
MF .00070

Michaell

magnavra said:

How is this deal? Market: Missouri

2017 Accord Sport (CVT)
MSRP 26050
Discount 4,500
Price: 21550
Doc 199 / Non Tax Fees 112.50
Net: 21861.50

3yr/12k - PMT 265
MF .00070

.00070 and 57% for base Sport on 36/12.

I get $221/mo plus tax with your prices.

What is the tax rate in MO?

I'd confirm the adjusted cap cost - I don't see the acquisition fee mentioned anywhere.

magnavra

Michaell,

Ok…thanks.

edfouz11

What is the MF and RV for Honda Accord 2017 LX in NOVA, What is the range of a good discount while negotiating the lease, I swing by the dealership and they gave me a discount 2995.0 of MSRP 23,990 that end up having a monthly lease payment of 286 which is a joke, I have a fried who already leasing the 2016 and his monthly payment is 230 with 0 down payment and no extra cap cost reduction like trade-in

shand32783

Can you please provide the MF/ Residand any lease cash on an a 2017 EX-L and Sport SE 36m/12k & 15K lease in the 98445 zip. Thank you!

kyfdx

edfouz11 said:

What is the MF and RV for Honda Accord 2017 LX in NOVA, What is the range of a good discount while negotiating the lease, I swing by the dealership and they gave me a discount 2995.0 of MSRP 23,990 that end up having a monthly lease payment of 286 which is a joke, I have a fried who already leasing the 2016 and his monthly payment is 230 with 0 down payment and no extra cap cost reduction like trade-in

.00070 MF and 55% residual for 36/15.
$1000 dealer cash + $500 Bonus lease cash.

Check out this discussion for pricing.
http://forums.edmunds.com/discussion/42361/honda/accord/2017-honda-accord-prices-paid-and-buying-experience#latest

kyfdx

shand32783 said:

Can you please provide the MF/ Residand any lease cash on an a 2017 EX-L and Sport SE 36m/12k & 15K lease in the 98445 zip. Thank you!

.00070 MF and 54%/56% residual for EXL/SportSE for 36/15.
Add 2% for 12K/yr
$1000 dealer cash + $500 Bonus lease cash.

magnavra

Still searching for a good deal…this was offered…how does it look?

Accord EX, Missouri Market

Selling Price: 22300
MF: 00070
Residual: 15598.05, 57%
$239/mo.
This includes all fees…

kyfdx

magnavra said:

Still searching for a good deal…this was offered…how does it look?

Accord EX, Missouri Market

Selling Price: 22300
MF: 00070
Residual: 15598.05, 57%
$239/mo.
This includes all fees…

How much is due at signing?
What is your tax rate?

magnavra

0 due at signing… I am tax exempt.

gmanusmc

magnavra said:

0 due at signing… I am tax exempt.

Could you clarify - are you in a state that does not assess sales tax, and if not, how are you tax exempt on an auto lease? Your statement just made me curious.

Thanks

Michaell

gmanusmc said:

magnavra said:

0 due at signing… I am tax exempt.

Could you clarify - are you in a state that does not assess sales tax, and if not, how are you tax exempt on an auto lease? Your statement just made me curious.

Thanks

My guess is that the OP is active military and the permanent residence is not MO.

Michaell

kyfdx said:

magnavra said:

Still searching for a good deal…this was offered…how does it look?

Accord EX, Missouri Market

Selling Price: 22300
MF: 00070
Residual: 15598.05, 57%
$239/mo.
This includes all fees…

How much is due at signing?
What is your tax rate?

magnavra said:

0 due at signing… I am tax exempt.

That is a solid deal, especially if it is sign and drive.

gmanusmc

Michaell said:

gmanusmc said:

magnavra said:

0 due at signing… I am tax exempt.

Could you clarify - are you in a state that does not assess sales tax, and if not, how are you tax exempt on an auto lease? Your statement just made me curious.

Thanks

My guess is that the OP is active military and the permanent residence is not MO.

They change the rules? I wasn't exempt from sales tax on our auto leases when on active duty. That was in CA and VA though.

Michaell

gmanusmc said:

Michaell said:

gmanusmc said:

magnavra said:

0 due at signing… I am tax exempt.

Could you clarify - are you in a state that does not assess sales tax, and if not, how are you tax exempt on an auto lease? Your statement just made me curious.

Thanks

My guess is that the OP is active military and the permanent residence is not MO.

They change the rules? I wasn't exempt from sales tax on our auto leases when on active duty. That was in CA and VA though.

I have no idea what the rules were, or if they changed. Just an educated guess. That, or the car is being leased by a tax exempt organization.

gmanusmc

Michaell said:

gmanusmc said:

Michaell said:

gmanusmc said:

magnavra said:

0 due at signing… I am tax exempt.

Could you clarify - are you in a state that does not assess sales tax, and if not, how are you tax exempt on an auto lease? Your statement just made me curious.

Thanks

My guess is that the OP is active military and the permanent residence is not MO.

They change the rules? I wasn't exempt from sales tax on our auto leases when on active duty. That was in CA and VA though.

I have no idea what the rules were, or if they changed. Just an educated guess. That, or the car is being leased by a tax exempt organization.

Ok - thanks Michaell - was just trying to get educated.

honda_guy92

I am debating on leasing a 2017 Honda Accord Sport. Market: Michigan (6% tax)

Could anyone inform me on if I am receiving a good deal here?

Trading in my 06 Acura (beat up exterior. 196k miles) : $1,750. I know this isnt the best trade in value, but I got in a minor accident and ripped off the side lip under passenger side doors and back bumper is cracked/heavily scratched. Hard to believe I could get 3k off craigslist.

Trade- in value: $1750

MSRP: $26,050
"Discounts": $2,500

Agreed-Upon Value of Vehicle: $23,645 + 595 acquisition fee
= $24,240 Gross Capitalized Cost

MF: .0007
Residual: 57%

36 months. 15k mi/yr
Monthly payment: $285

Michaell

honda_guy92 said:

I am debating on leasing a 2017 Honda Accord Sport. Market: Michigan (6% tax)

Could anyone inform me on if I am receiving a good deal here?

Trading in my 06 Acura (beat up exterior. 196k miles) : $1,750. I know this isnt the best trade in value, but I got in a minor accident and ripped off the side lip under passenger side doors and back bumper is cracked/heavily scratched. Hard to believe I could get 3k off craigslist.

Trade- in value: $1750

MSRP: $26,050
"Discounts": $2,500

Agreed-Upon Value of Vehicle: $23,645 + 595 acquisition fee
= $24,240 Gross Capitalized Cost

MF: .0007
Residual: 57%

36 months. 15k mi/yr
Monthly payment: $285

I show 55% for 36/15 on the 2017 Accord sport.

Using your prices, I get $320/mo with tax included.

What is happening with the trade equity?

honda_guy92

This is what I am confused with.

It says on the vehicle lease agreement (draft) I took home

The Amount due at lease signing or Delivery is $1750. (my trade in value)

On the *Itemization of Amount due at lease signing or delivery

A. Amount due at lease signing or Delivery: $1164.15
(1) Capitalization cost reduction (amount paid in cash) : $1164.15
Sales/Use tax on Amount Paid in Cash : $69.85
(2) Capitalization cost reduction ( Credit for net trade-in allowance) : $NA
Sales/Use Tax on (Credit for Net Trade-Allowance) : $0
(3) Advanced Monthly Payment (1st month) : $270.45

...

(6) Initial Registration Fees $8
(7) Other: Doc fee including tax $222.60
.....

(10). Total $1750.05



My monthly payment is determined as shown below:
a. Gross Capitalization Cost: $ 24,240
b. Capitalization Cost Reduction: - $ 1,164.15
c. = Adjusted Capitalization Cost: = $ 23,075.85

d. Residual = $14845
e. Depreciation and any amortized amounts = $8229. / 36 mo's = $228/mo.
f. Rent Charge. (Money Factor) = + $955
g. Total of Base Payment = $9185

/36 mo lease

= $270.45 mo. payment

These numbers are from a 36 mo and 12,000k / yr. (he said add $14 for 15k milage limit which is what I want..

I just feel like my acrua trade is is being used as the "Special deals" they already have.

Michaell

honda_guy92 said:

This is what I am confused with.

It says on the vehicle lease agreement (draft) I took home

The Amount due at lease signing or Delivery is $1750. (my trade in value)

On the *Itemization of Amount due at lease signing or delivery

A. Amount due at lease signing or Delivery: $1164.15
(1) Capitalization cost reduction (amount paid in cash) : $1164.15
Sales/Use tax on Amount Paid in Cash : $69.85
(2) Capitalization cost reduction ( Credit for net trade-in allowance) : $NA
Sales/Use Tax on (Credit for Net Trade-Allowance) : $0
(3) Advanced Monthly Payment (1st month) : $270.45

...

(6) Initial Registration Fees $8
(7) Other: Doc fee including tax $222.60
.....

(10). Total $1750.05



My monthly payment is determined as shown below:
a. Gross Capitalization Cost: $ 24,240
b. Capitalization Cost Reduction: - $ 1,164.15
c. = Adjusted Capitalization Cost: = $ 23,075.85

d. Residual = $14845
e. Depreciation and any amortized amounts = $8229. / 36 mo's = $228/mo.
f. Rent Charge. (Money Factor) = + $955
g. Total of Base Payment = $9185

/36 mo lease

= $270.45 mo. payment

These numbers are from a 36 mo and 12,000k / yr. (he said add $14 for 15k milage limit which is what I want..

I just feel like my acrua trade is is being used as the "Special deals" they already have.

OK, so the trade value is broken down into $1164.xx of cap reduction (aka down payment) and the rest to fees and such.

I agree with the math, using the new cap cost and the 57% residual for 36/12. Payment will be $285/mo for 15K miles per year.

What I don't know is whether you are getting enough of a discount from sticker. Check out this discussion for expert help:

http://forums.edmunds.com/discussion/42361/honda/accord/2017-honda-accord-prices-paid-and-buying-experience#latest

smile55

Could I get the MF and RV for 2017 accord EXL and accord Hybrid EXL? 36/12k in WI. Any bonus cash? Thanks.

kyfdx

smile55 said:

Could I get the MF and RV for 2017 accord EXL and accord Hybrid EXL? 36/12k in WI. Any bonus cash? Thanks.

EXL: .00070 MF and 56% residual.
$1000 dealer cash + $500 bonus lease cash
HYB EXL: .00085 MF and 52% residual
$1250 dealer cash + $750 bonus lease cash

honda_guy92

So I just want to make sure I have all the relevant details for leasing this 2017 Accord Sport. (special edition, heated leather seats, custom detailing).

MSRP $26,050 on the car.
There is $1000 dealer cash + $500 bonus lease cash (is this nationwide??)

I'll qualify for the recent grad $500 discount.

Which takes the price to $24,050.
Subtract my trade in (down payment), which is netted with doc fees, sales tax and 1st mo's payment ($1161)

= $22889.

Residual Value: 57% of MSRP = $14,848.
MF = .0007 * (22,889 adjusted cap. cost + $14,848 residual) /36 mo = $26.50 rent charge per month

Depreciable amount: (22,889 - 14848) = $223.36 mo

Tax per month = $15

So with this I am getting a total of $264.86. It's sound like my offer of $272 is pretty close. I just would like to confirm the $1000 dealer cash and $500 bonus lease cash, since I have been seeing it on previous posts. But this will not be explained by the dealer at all.

Michaell

honda_guy92 said:

So I just want to make sure I have all the relevant details for leasing this 2017 Accord Sport. (special edition, heated leather seats, custom detailing).

MSRP $26,050 on the car.
There is $1000 dealer cash + $500 bonus lease cash (is this nationwide??)

I'll qualify for the recent grad $500 discount.

Which takes the price to $24,050.
Subtract my trade in (down payment), which is netted with doc fees, sales tax and 1st mo's payment ($1161)

= $22889.

Residual Value: 57% of MSRP = $14,848.
MF = .0007 * (22,889 adjusted cap. cost + $14,848 residual) /36 mo = $26.50 rent charge per month

Depreciable amount: (22,889 - 14848) = $223.36 mo

Tax per month = $15

So with this I am getting a total of $264.86. It's sound like my offer of $272 is pretty close. I just would like to confirm the $1000 dealer cash and $500 bonus lease cash, since I have been seeing it on previous posts. But this will not be explained by the dealer at all.

Hold on ... if this is the Sport SE, the 36/12 residual is 58%, not 57%, so the payment would drop.

And, you should be negotiating a substantial discount from sticker, before applying the incentives.

I confirm the $1000 / $500 incentives.

magnavra

Thanks for the help provided…!

In the end, I signed the following deal (Missouri Market):

Honda Accord EX-L V6
MSRP: 31730
SP: 24339
Res: 53%, 16817
MF: .00070
Money Down: $0
Tax: $0
Fees: $0
Term: 3yr/36k
Payment: $259

There was some question about the tax in my previous queries…we are a tax exempt corporation, and therefore are exempt from sales / property taxes.

honda_guy92

I did not clarify well in the previous post. I was getting a 15k lease (Residual on SE: .56) Went to a different Honda dealer today and the salesman told me their dealer invoice within 2 minutes. I ended up getting a much better deal than what I was previously offered from a different dealer.

2017 Accord Sport SE

MSRP: $27,050.
SP: $24,920
Honda Incentives: $1000, $500 and another $500 for recent grad.
Total: $22,920.
Trade-In: $1,300

Payment: $253.

kyfdx

magnavra said:

Thanks for the help provided…!

In the end, I signed the following deal (Missouri Market):

Honda Accord EX-L V6
MSRP: 31730
SP: 24339
Res: 53%, 16817
MF: .00070
Money Down: $0
Tax: $0
Fees: $0
Term: 3yr/36k
Payment: $259

There was some question about the tax in my previous queries…we are a tax exempt corporation, and therefore are exempt from sales / property taxes.

Congrats!

kyfdx

honda_guy92 said:

I did not clarify well in the previous post. I was getting a 15k lease (Residual on SE: .56) Went to a different Honda dealer today and the salesman told me their dealer invoice within 2 minutes. I ended up getting a much better deal than what I was previously offered from a different dealer.

2017 Accord Sport SE

MSRP: $27,050.
SP: $24,920
Honda Incentives: $1000, $500 and another $500 for recent grad.
Total: $22,920.
Trade-In: $1,300

Payment: $253.

Congrats!

nyvette

I just left the dealership. They are pitching me a 2017 Honda Accord EX for $27,000. It's a demo w/ 5,000 miles already, so they told me I'm getting "a good deal". My down payment is $2310 including, taxes, fees, and first month. My monthly payment is $239 x 36 months with 15k miles per year. Btw, I live in NYC. 

I've never leased a car before. Is this a good deal?! If so, I'm going back on Saturday to finalize everything. 

amgpow247

Hello,

I recently moved to a new town for a job and my credit score dropped to low 600 range.
Visited a local honda dealer for 2017 accord sports SE and they were asking $330 month for 36/1200 with first payment down at signing. Is this a decent deal?

MSRP $27050
Sales price: $23886
Rebate: $500
Total down: $330
Tax Rate: 6.875%

They did not provide any other information. I never leased a car before.. Any suggestions or advice will be greatly appreciated.

kyfdx

amgpow247 said:

Hello,

I recently moved to a new town for a job and my credit score dropped to low 600 range.
Visited a local honda dealer for 2017 accord sports SE and they were asking $330 month for 36/1200 with first payment down at signing. Is this a decent deal?

MSRP $27050
Sales price: $23886
Rebate: $500
Total down: $330
Tax Rate: 6.875%

They did not provide any other information. I never leased a car before.. Any suggestions or advice will be greatly appreciated.

.00070 MF and 58% residual for top tier.
If your total amount due at signing is $330, then ask for the adjusted CAP cost. That will be higher than the Sale price, as we have to account for acquisition fee, and title/registration fees.
Also, ask them what MF is used. It's likely to be higher, due to your credit score.

amgpow247

kyfdx said:

amgpow247 said:

Hello,

I recently moved to a new town for a job and my credit score dropped to low 600 range.
Visited a local honda dealer for 2017 accord sports SE and they were asking $330 month for 36/1200 with first payment down at signing. Is this a decent deal?

MSRP $27050
Sales price: $23886
Rebate: $500
Total down: $330
Tax Rate: 6.875%

They did not provide any other information. I never leased a car before.. Any suggestions or advice will be greatly appreciated.

.00070 MF and 58% residual for top tier.
If your total amount due at signing is $330, then ask for the adjusted CAP cost. That will be higher than the Sale price, as we have to account for acquisition fee, and title/registration fees.
Also, ask them what MF is used. It's likely to be higher, due to your credit score.

Thank you very much!

classe

Hi - Is the residual/MF for a 2017 EXL in NJ also 58%/.00070 - thanks!

kyfdx

classe said:

Hi - Is the residual/MF for a 2017 EXL in NJ also 58%/.00070 - thanks!

.00070 MF and 56% residual for 36/12.

hondalady12345

Hi! I reside in N Y and I am interested in leasing a 2017 Honda Accord EX. I didn't know until reading your blog that there is dealer and leasing incentives. Thanks for advising. I was given a price of $339 a month with nothing down to lease the 2017 Accord EX (not leather and not V-6). Is this a good price in NY?

Michaell

hondalady12345 said:

Hi! I reside in N Y and I am interested in leasing a 2017 Honda Accord EX. I didn't know until reading your blog that there is dealer and leasing incentives. Thanks for advising. I was given a price of $339 a month with nothing down to lease the 2017 Accord EX (not leather and not V-6). Is this a good price in NY?

What is the MSRP?
What is the selling price?
What is the lease term and how many miles per year?
How much does the dealer want at signing?

hondalady12345

The lease would be for 36 months with 12,000 miles per year. Absolutely zero due at signing. It looks like the MSRP is $25,730. I'm not sure about the selling price, which I get is not a good thing. Sales tax in NYS is 8.75 percent.

One other twist is I'm turning my 2014 Honda Accord Sport in four months early. I've been paying $289 a month on that. They offered me a 2017 sport for $299. Truthfully, I'm very confused about the entire situation. Do you normally recommend completing the duration of the lease so you can walk away from that lease free and clear and then get a true picture of what the dealership is fully offering? I went on the Weymouth Boston website as I've seen it mentioned and they're saying $250 a month after paying down payment of $711, which includes first month and doc fees. Any thoughts greatly appreciated. I don't want to get ripped off. Thanks!

Michaell

hondalady12345 said:

The lease would be for 36 months with 12,000 miles per year. Absolutely zero due at signing. It looks like the MSRP is $25,730. I'm not sure about the selling price, which I get is not a good thing. Sales tax in NYS is 8.75 percent.

One other twist is I'm turning my 2014 Honda Accord Sport in four months early. I've been paying $289 a month on that. They offered me a 2017 sport for $299. Truthfully, I'm very confused about the entire situation. Do you normally recommend completing the duration of the lease so you can walk away from that lease free and clear and then get a true picture of what the dealership is fully offering? I went on the Weymouth Boston website as I've seen it mentioned and they're saying $250 a month after paying down payment of $711, which includes first month and doc fees. Any thoughts greatly appreciated. I don't want to get ripped off. Thanks!

Ask the dealer for the adjusted cap cost, with all taxes, fees and the remaining payments rolled in. Then we can run the numbers.

hondalady12345

Thank You! I will get that tomorrow! They're pushing me to make a decision by tomorrow since it's the end of the month, but as you've said earlier there will be lots of good deals on accords through 2017 and I have a perfectly good car right now so I'm trying to not feel pressured. Also thanks in advance for helping me!

Michaell

hondalady12345 said:

Thank You! I will get that tomorrow! They're pushing me to make a decision by tomorrow since it's the end of the month, but as you've said earlier there will be lots of good deals on accords through 2017 and I have a perfectly good car right now so I'm trying to not feel pressured. Also thanks in advance for helping me!

Yep. Lots of time to make a great deal. Last week of December is always a optimal week.

hondalady12345

Hi again! I'm having a difficult time getting the cap cost from either of the two dealers I'm dealing with. I do have the money factor at .0007 and the residual at 55%. Here is my question....I've contacted the internet sales person at Weymouth after looking on their website. He sent me a quote on a 2017 Accord EX sedan 12,000 miles a year for 36 months. He figured out NYS sales tax into the equation and I would owe $1,025.90 at signing, which includes first months payment, registration fee and documentation fee. The monthly lease is at $252.19 a month, which includes NYS sales tax. I added 35 payments at that amount and came up with a total for payments at $8826.65 and a total to lease this vehicle with the "due at signing" at $9,902.94. I used that figure to ascertain if the dealers here in NY are giving me a good deal. The best deal I got was 279 a month for 36 months with absolutely no fees (just pay the first $279) at signing. This totals $10,044. I see a difference of $142 and no trip to Boston (7 hours away) would be a fair trade.

I notified you earlier about my outstanding lease, which is four payments of $289. In both deals, I would have to pay my current lease off on my own. I worked with my local dealer before and he pretty much guaranteed that I could turn the car in without any problem.

Do I keep the 2014 sport also until the lease runs out? Do I jump on this today. Salesman told me that all sales people will get a $150 bonus for selling an accord today. He said he told me that just because he wanted me to trust him and not hold anything back. Not sure on that one?!

Do you know if the dealer and lease incentives will continue through the next month? I'm really not sure what to do. I always do nothing when I'm undecided. Your input is greatly appreciated though.

Michaell

hondalady12345 said:

Hi again! I'm having a difficult time getting the cap cost from either of the two dealers I'm dealing with. I do have the money factor at .0007 and the residual at 55%. Here is my question....I've contacted the internet sales person at Weymouth after looking on their website. He sent me a quote on a 2017 Accord EX sedan 12,000 miles a year for 36 months. He figured out NYS sales tax into the equation and I would owe $1,025.90 at signing, which includes first months payment, registration fee and documentation fee. The monthly lease is at $252.19 a month, which includes NYS sales tax. I added 35 payments at that amount and came up with a total for payments at $8826.65 and a total to lease this vehicle with the "due at signing" at $9,902.94. I used that figure to ascertain if the dealers here in NY are giving me a good deal. The best deal I got was 279 a month for 36 months with absolutely no fees (just pay the first $279) at signing. This totals $10,044. I see a difference of $142 and no trip to Boston (7 hours away) would be a fair trade.

I notified you earlier about my outstanding lease, which is four payments of $289. In both deals, I would have to pay my current lease off on my own. I worked with my local dealer before and he pretty much guaranteed that I could turn the car in without any problem.

Do I keep the 2014 sport also until the lease runs out? Do I jump on this today. Salesman told me that all sales people will get a $150 bonus for selling an accord today. He said he told me that just because he wanted me to trust him and not hold anything back. Not sure on that one?!

Do you know if the dealer and lease incentives will continue through the next month? I'm really not sure what to do. I always do nothing when I'm undecided. Your input is greatly appreciated though.

One thing to keep in mind - in MA, the sales tax is assessed against the payment each month; in NY, the sales tax is computed against the sum of the payments and collected up front. You can either pay them at lease inception or add the tax amount to the cap cost. That's why it's important to know what that cap number is.

Lots of dealers out there ... you need to find one that is transparent with the numbers. Too easy to hide fees and such that inflate the lease payment.

Regarding the payoff of your existing lease - I just went through a similar situation. I had two payments left on my current lease and leased a new car (different brand, however). I negotiated the cap cost to factor in those two payments, the cost of the mileage (I was over about 5000 miles) and some damage I had to my bumper (hit and run that I never got fixed). Dealer and I decided to split the cost of all that - about $2000 total, so roughly $1000 was added to my negotiated cap cost.

No reason you have to pay off your existing lease early - again, you should be able to find a dealer willing to play ball.

If not, then hang on to your existing car until the end of the lease, and try again at that time.. FWIW, the end of the calendar year is a great time to buy or lease a car. You'll be two payments closer to the end of your existing lease.

hondalady12345

Thanks for your prompt response. I am a little confused though. Weymouth quotes the Accord EX at a monthly lease of $231.90 per month but when he sent me the quote, he included a monthly sales tax amount and hence the amount is $252.19. I used that figure in my overall equation. He also quoted me much higher registration fee ($450.00) and a $344.00 documentation fee. Their website shows a $135 registration fee but the same documentation fee. Could that be higher because of NYS?

Obviously, I'm really anxious to do this but I don't want to do anything foolish. Would it make sense to have them add in the last four payments that total $289 x 4 = 1156 and then divide that number by 36 payments for an extra $32.11 per month in every monthly payment?

My 2014 sport is in perfect condition. Although it was in an accident, which would bring the value down in selling. So if they would divide that into the payments it would bring it up to $311 per month. It doesn't sound like a good figure based on others I've been seeing here.

I hate to be a bother but you're so knowledgeable. Does my thinking even make sense? Should I stop being an impulsive women who wants a new car? lol

Thanks again

Michaell

hondalady12345 said:

Thanks for your prompt response. I am a little confused though. Weymouth quotes the Accord EX at a monthly lease of $231.90 per month but when he sent me the quote, he included a monthly sales tax amount and hence the amount is $252.19. I used that figure in my overall equation. He also quoted me much higher registration fee ($450.00) and a $344.00 documentation fee. Their website shows a $135 registration fee but the same documentation fee. Could that be higher because of NYS?

Obviously, I'm really anxious to do this but I don't want to do anything foolish. Would it make sense to have them add in the last four payments that total $289 x 4 = 1156 and then divide that number by 36 payments for an extra $32.11 per month in every monthly payment?

My 2014 sport is in perfect condition. Although it was in an accident, which would bring the value down in selling. So if they would divide that into the payments it would bring it up to $311 per month. It doesn't sound like a good figure based on others I've been seeing here.

I hate to be a bother but you're so knowledgeable. Does my thinking even make sense? Should I stop being an impulsive women who wants a new car? lol

Thanks again

Not a bother .. that's why we're here.

The tax math works out the same way - Weymouth simply multiplied the pre-tax payment by 8.75% to get the final payment. It may be a bit higher in NY as you add the tax to the cap cost, which subjects the tax amount to the interest. Again, if we knew the cap cost we can run all the numbers ourselves and figure out what the payment ought to be.

You can add the 4 remaining payments to the cap cost to increase the payment $30-odd each month. If you exhibit a bit of patience, you can avoid having to do that. (my lease added about $23/mo because of my impatience).

Yes, the fees vary by state. NY caps the documentation (or dealer) fee at $75; I suspect it's much higher in MA.

You can figure out the lease payoff by calling Honda Finance. And, there is a "real world trade in values" discussion where you can get good feedback on what your car is worth, both in trade and if you decide to sell it private party.

I have car ADD myself, which is why I lease and my wife buys hers. I understand the desire to do something now, but you'll save yourself some money if you wait just a couple more months. Think of it as a late Christmas present to yourself!

hondalady12345

All good advice. I will push and push until I get that cap cost. And you're right two more months of driving still a very nice car is not a bad thing! I'm really bad with pressure....so I guess I will just have to stop answering the phone til I get through this terrible urge to trade up!

Michaell

hondalady12345 said:

All good advice. I will push and push until I get that cap cost. And you're right two more months of driving still a very nice car is not a bad thing! I'm really bad with pressure....so I guess I will just have to stop answering the phone til I get through this terrible urge to trade up!

Be polite and tell the dealers you won't sign anything without full disclosure. Those that refuse to cooperate probably don't deserve your business in the first place.