2017 Honda Accord Hybrid Lease Questions

bulbasur

Hi,

I am looking for a 2017 Accord Hybrid and received the following quote from a dealer in northern CA. I just need to understand if this looks like a good deal.

MSRP - $30,440
Selling price - $28,900

MF - 0.0019 (equivalent to 4.56%)
Term/Miles - 36 months/12k per year
Monthly payment - $435
Residual: 55%

Due at Signing: $2,000
Down payment: $1,474
Dealer Doc Fee: $80
License Fee: $248
Tire: 8.75
Electronic Filing: $98

Here's the original copy.

kyfdx

bulbasur said:

Hi,

I am looking for a 2017 Accord Hybrid and received the following quote from a dealer in northern CA. I just need to understand if this looks like a good deal.

MSRP - $30,440
Selling price - $28,900

MF - 0.0019 (equivalent to 4.56%)
Term/Miles - 36 months/12k per year
Monthly payment - $435
Residual: 55%

Due at Signing: $2,000
Down payment: $1,474
Dealer Doc Fee: $80
License Fee: $248
Tire: 8.75
Electronic Filing: $98

Here's the original copy.

The numbers are correct for this model, but the money factor is .00190. I can think of a half-dozen $30K MSRP vehicles that will lease out for $100/mo. less than this one. No way I'm paying $435/mo. to lease this car.

bulbasur

Thanks for responding @kyfdx. So, you're saying the monthly lease payment should be closer to $320-$340 for this one? Since the MF and the residuals are pre-fixed by Honda Financial Services, I'm not sure what I should be negotiating off of - a lower selling price, a lower MF, or a higher residual? I do feel that the MF is sort of high for super preferred.

Michaell

bulbasur said:

Thanks for responding @kyfdx. So, you're saying the monthly lease payment should be closer to $320-$340 for this one? Since the MF and the residuals are pre-fixed by Honda Financial Services, I'm not sure what I should be negotiating off of - a lower selling price, a lower MF, or a higher residual? I do feel that the MF is sort of high for super preferred.

The MF is very high compared to other mid-sized models.

For example, the MF on the Toyota Camry is .00001 (.24%); for the deal you've given us, the equivalent APR is 4.56%. That will result a big difference in the payment.

Residual is fixed by the bank. Probably not a huge discount from sticker is available, given how new the 2017's are.

kyfdx

bulbasur said:

Thanks for responding @kyfdx. So, you're saying the monthly lease payment should be closer to $320-$340 for this one? Since the MF and the residuals are pre-fixed by Honda Financial Services, I'm not sure what I should be negotiating off of - a lower selling price, a lower MF, or a higher residual? I do feel that the MF is sort of high for super preferred.

No, that's not what I mean. Other competitive vehicles can be leased for less. Considering that, I would choose a different car.

kyfdx

bulbasur said:

kyfdx said:

bulbasur said:

Thanks for responding @kyfdx. So, you're saying the monthly lease payment should be closer to $320-$340 for this one? Since the MF and the residuals are pre-fixed by Honda Financial Services, I'm not sure what I should be negotiating off of - a lower selling price, a lower MF, or a higher residual? I do feel that the MF is sort of high for super preferred.

No, that's not what I mean. Other competitive vehicles can be leased for less. Considering that, I would choose a different car.

Got it. I'm considering hybrids (or cars with great mileage) and have started looking at the 2017 Camry Hybrid as well. I somehow did not like the excessively sporty build of the Prius. Would you know what the residuals for a 36 mo/12k miles would be? Thanks!

The 2017 Camry lease discussion is here:
http://forums.edmunds.com/discussion/42384/toyota/camry/2017-toyota-camry-lease-questions#latest

But, we don't have numbers for the 2017 Toyotas, yet.

kyfdx

bulbasur said:

Just got a call back from the dealer about a special they're running "if I qualify" - a .00085 MF (2.04% APR). Would this make it a better deal. For the sake of simplicity, let's assume all other details (residual, Selling Price) remain the same. I'm wondering if it is worth going back into the dealership for. Opinions?

$47/mo.+tax less, all else being equal.

bulbasur

kyfdx said:

bulbasur said:

Thanks for responding @kyfdx. So, you're saying the monthly lease payment should be closer to $320-$340 for this one? Since the MF and the residuals are pre-fixed by Honda Financial Services, I'm not sure what I should be negotiating off of - a lower selling price, a lower MF, or a higher residual? I do feel that the MF is sort of high for super preferred.

No, that's not what I mean. Other competitive vehicles can be leased for less. Considering that, I would choose a different car.

Got it. I'm considering hybrids (or cars with great mileage) and have started looking at the 2017 Camry Hybrid as well. I somehow did not like the excessively sporty build of the Prius. Would you know what the residuals for a 36 mo/12k miles would be? Thanks!

Elliot Udell

Sounds like you need to wait till there are better deals for the hybrid. Contact some private leasing companies and ask what they are offering

Michaell

elliotu said:

Sounds like you need to wait till there are better deals for the hybrid. Contact some private leasing companies and ask what they are offering

I can't imagine third party banks are going to have terms any better than those from Honda Finance.

But, I could be wrong.

Elliot Udell

You'd be surprised. I have been dealing with Wheels to Lease. They cover the New York, New Jersey area and they often come up with better prices. A friend of mne just leased an Acura with Plaza leasing in Brookly and got an Acura for over a hundred dollars less. Call Wheels to Lease and ask them. They are located in Brooklyn, New york but they service he entire tri state area. They will also be honest with you and will tell you if "today" is not he best day to lease a specific make a model

bulbasur

Just got a call back from the dealer about a special they're running "if I qualify" - a .00085 MF (2.04% APR). Would this make it a better deal. For the sake of simplicity, let's assume all other details (residual, Selling Price) remain the same. I'm wondering if it is worth going back into the dealership for. Opinions?

bulbasur

elliotu said:

You'd be surprised. I have been dealing with Wheels to Lease. They cover the New York, New Jersey area and they often come up with better prices. A friend of mne just leased an Acura with Plaza leasing in Brookly and got an Acura for over a hundred dollars less. Call Wheels to Lease and ask them. They are located in Brooklyn, New york but they service he entire tri state area. They will also be honest with you and will tell you if "today" is not he best day to lease a specific make a model

Looks like they do not provide their services in Northern California. Do you know of any around this area?

Elliot Udell

There must be car leasing companies in your area.

clownstrike

Hi and thanks for all the fantastic info provided on the Edmunds forums! Do you have the current residual and MF for 2017 Accord Hybrid Touring, 36m/15k, in Boston area? Also, I noticed that Truecar is quoting very large discounts on these vehicles at the moment (approx $7k off $37k msrp). If I can verify the pricing, would the same pricing be applicable to a lease calculation, or are these incentives limited to purchase only? - Best, Tim

Michaell

clownstrike said:

Hi and thanks for all the fantastic info provided on the Edmunds forums! Do you have the current residual and MF for 2017 Accord Hybrid Touring, 36m/15k, in Boston area? Also, I noticed that Truecar is quoting very large discounts on these vehicles at the moment (approx $7k off $37k msrp). If I can verify the pricing, would the same pricing be applicable to a lease calculation, or are these incentives limited to purchase only? - Best, Tim

48% and .00045.

Lease incentives on the Accord Hybrid are a bit confusing. I see $1250 lease cash, but I also see $750 bonus lease cash and another bonus lease cash of $300 / $1300 / $950. No idea if they stack or how they apply.

yhari

Hello - awesome forum .. do you have current mf and residual for Accord Hybrid basic and EX_L trim levels? 3 / 36 and 3/45. THanks!

kyfdx

yhari said:

Hello - awesome forum .. do you have current mf and residual for Accord Hybrid basic and EX_L trim levels? 3 / 36 and 3/45. THanks!

.00045 MF and 51%/49% for Base/EXL for 36/15.
Add 2% for 12K/yr

$1250 dealer cash + $750 bonus lease cash + maybe more lease cash

parris69

Hi all,

could you please provide MF and residual for 2017 January on an Accord Touring 36 month lease 12k miles a yr?

thanks!

Michaell

parris69 said:

Hi all,

could you please provide MF and residual for 2017 January on an Accord Touring 36 month lease 12k miles a yr?

thanks!

The current programs run until end of day tomorrow. New numbers later this week.