Honda Accord Touring V6 2017

ganesh008

Can you please let me know how good the below deal is?

Honda Accord Touring V6 2017
Monthy Lease Amount: $350
Down payment: $2500 + ($500 Offer)
36 months with 12K miles per yer
Residual amount after 3 year $18,189.15 or 51% of MSRP which is $35,664

They gave me a selling price of $31,380 but i'm not sure if they had taken this into consideration for my lease price.

kyfdx

ganesh008 said:

Can you please let me know how good the below deal is?

Honda Accord Touring V6 2017
Monthy Lease Amount: $350
Down payment: $2500 + ($500 Offer)
36 months with 12K miles per yer
Residual amount after 3 year $18,189.15 or 51% of MSRP which is $35,664

They gave me a selling price of $31,380 but i'm not sure if they had taken this into consideration for my lease price.

.00070 MF and 51% residual
$1000 dealer cash on this model, in addition to the $500 bonus lease cash.

What state and tax rate?
Is $2500 your total out of pocket?
Did they mention the adjusted CAP cost?

ganesh008

kyfdx said:

ganesh008 said:

Can you please let me know how good the below deal is?

Honda Accord Touring V6 2017
Monthy Lease Amount: $350
Down payment: $2500 + ($500 Offer)
36 months with 12K miles per yer
Residual amount after 3 year $18,189.15 or 51% of MSRP which is $35,664

They gave me a selling price of $31,380 but i'm not sure if they had taken this into consideration for my lease price.

.00070 MF and 51% residual
$1000 dealer cash on this model, in addition to the $500 bonus lease cash.

What state and tax rate?
Is $2500 your total out of pocket?
Did they mention the adjusted CAP cost?

Nebraska, 7% tax on down payment ($3000). Yes $2500 is my Out of pocket and $350 per month for 36 months. No they did not mention anything about adjusted CAP cost?

tonyg2016

why are you putting so much down? not recommended on any lease

shoot for 36 payments of 400 and that's it

http://www.realcartips.com/leasing/0314-dont-put-down-payment-on-car-lease.shtml

kyfdx

ganesh008 said:

kyfdx said:

ganesh008 said:

Can you please let me know how good the below deal is?

Honda Accord Touring V6 2017
Monthy Lease Amount: $350
Down payment: $2500 + ($500 Offer)
36 months with 12K miles per yer
Residual amount after 3 year $18,189.15 or 51% of MSRP which is $35,664

They gave me a selling price of $31,380 but i'm not sure if they had taken this into consideration for my lease price.

.00070 MF and 51% residual
$1000 dealer cash on this model, in addition to the $500 bonus lease cash.

What state and tax rate?
Is $2500 your total out of pocket?
Did they mention the adjusted CAP cost?

Nebraska, 7% tax on down payment ($3000). Yes $2500 is my Out of pocket and $350 per month for 36 months. No they did not mention anything about adjusted CAP cost?

The adjusted CAP cost is the amount that is used to calculate the payment. It's the selling price, + any additions (acq.fee, tax on upfront amounts, etc) minus any CAP cost reduction.

One more question: Does your $350/mo. include state tax? In other words, is the actual payment about $327/mo.+tax?

ganesh008

tonyg2016 said:

why are you putting so much down? not recommended on any lease

shoot for 36 payments of 400 and that's it

http://www.realcartips.com/leasing/0314-dont-put-down-payment-on-car-lease.shtml

With $1000 down payment plus $500 offer, dealer quoted the monthly price to be $393.57 & he is not willing to reduce the price anymore.

ganesh008

kyfdx said:

ganesh008 said:

kyfdx said:

ganesh008 said:

Can you please let me know how good the below deal is?

Honda Accord Touring V6 2017
Monthy Lease Amount: $350
Down payment: $2500 + ($500 Offer)
36 months with 12K miles per yer
Residual amount after 3 year $18,189.15 or 51% of MSRP which is $35,664

They gave me a selling price of $31,380 but i'm not sure if they had taken this into consideration for my lease price.

.00070 MF and 51% residual
$1000 dealer cash on this model, in addition to the $500 bonus lease cash.

What state and tax rate?
Is $2500 your total out of pocket?
Did they mention the adjusted CAP cost?

Nebraska, 7% tax on down payment ($3000). Yes $2500 is my Out of pocket and $350 per month for 36 months. No they did not mention anything about adjusted CAP cost?

The adjusted CAP cost is the amount that is used to calculate the payment. It's the selling price, + any additions (acq.fee, tax on upfront amounts, etc) minus any CAP cost reduction.

One more question: Does your $350/mo. include state tax? In other words, is the actual payment about $327/mo.+tax?

I am not sure of the CAP cost. Yes, $350 includes state tax. I just need to pay $350 every month for 36 months. And with $1000 down payment plus $500 offer, dealer quoted the monthly price to be $393.57 (including tax) & he is not willing to reduce the price anymore.

kyfdx

ganesh008 said:

kyfdx said:

ganesh008 said:

kyfdx said:

ganesh008 said:

Can you please let me know how good the below deal is?

Honda Accord Touring V6 2017
Monthy Lease Amount: $350
Down payment: $2500 + ($500 Offer)
36 months with 12K miles per yer
Residual amount after 3 year $18,189.15 or 51% of MSRP which is $35,664

They gave me a selling price of $31,380 but i'm not sure if they had taken this into consideration for my lease price.

.00070 MF and 51% residual
$1000 dealer cash on this model, in addition to the $500 bonus lease cash.

What state and tax rate?
Is $2500 your total out of pocket?
Did they mention the adjusted CAP cost?

Nebraska, 7% tax on down payment ($3000). Yes $2500 is my Out of pocket and $350 per month for 36 months. No they did not mention anything about adjusted CAP cost?

The adjusted CAP cost is the amount that is used to calculate the payment. It's the selling price, + any additions (acq.fee, tax on upfront amounts, etc) minus any CAP cost reduction.

One more question: Does your $350/mo. include state tax? In other words, is the actual payment about $327/mo.+tax?

I am not sure of the CAP cost. Yes, $350 includes state tax. I just need to pay $350 every month for 36 months. And with $1000 down payment plus $500 offer, dealer quoted the monthly price to be $393.57 (including tax) & he is not willing to reduce the price anymore.

To get the $327/mo. pre-tax payment, the CAP cost has to be about $28,800. So, around $2500 of that $3000 upfront is going to CAP cost reduction. At that selling price, the quoted deal looks a little better than the calculations.

If this is the deal, I like structuring it with $1000 out of pocket and the higher monthly.

As you know, the Touring is the most expensive Accord model, and has the worst residuals. That results in a pretty big payment relative to MSRP.

We've seen more aggressive deals on the EX-L V6, but you'd be giving up some options vs. the Touring.