Car Buying Advice - 2017 Accord EX-L Lease

jimmyyterry

Looking at trading in my current lease on 2014 Accord EX-L, 36 month lease, 12K/yr mileage. Dealer in Maryland offered same $0 down, $0 first month, $0 security that we did for my current lease on a new 2017 Accord EX-L, same terms. He quoted me $394.84/month/36 month/12K year doing the 0/0/0 lease. Current lease is $380/month. His residual on the 2017 EX-L is $16,310.25, MSRP $29,795. Does that sound like a decent enough deal or should I keep shopping around? Thanks for any help.

kyfdx

jimmyyterry said:

Looking at trading in my current lease on 2014 Accord EX-L, 36 month lease, 12K/yr mileage. Dealer in Maryland offered same $0 down, $0 first month, $0 security that we did for my current lease on a new 2017 Accord EX-L, same terms. He quoted me $394.84/month/36 month/12K year doing the 0/0/0 lease. Current lease is $380/month. His residual on the 2017 EX-L is $16,310.25, MSRP $29,795. Does that sound like a decent enough deal or should I keep shopping around? Thanks for any help.

.00083 MF and 55% residual
$1000 dealer cash + $1000 bonus lease cash.
With that residual, the MSRP would have to be $29,655.

To get that payment, the adjusted CAP cost would have to be $29,150, if tax is paid upfront. Do you live in MD, or another state?

Consiglieri

you should be leasing based on a sale price of 24200 or less including freight. with the tax savings from the trade, you should be under $300 for your new 36/12 lease. having just traded in a 14 toyota lease for a honda accord lease in md earlier this week, i am intimately familiar with the honda dealerships and current pricing in the md/va/nj market. it is imperative that you understand the structure for tax credits in lease to lease trade-ins because not all dealers interpret the MD Comptroller's directives the same way, and it behooves you to find a dealership that will interpret them to your benefit. please follow up if you want me to elaborate.