Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

2013 and earlier-Honda Accord Lease Questions

1104105106107108110»

Comments

  • I can give you an idea what this means but others on the board could give you more details. The tax is the tax on the monthly amount of your payment. The title and registration is what you have to pay when you buy a car. Every year thereafter you have to pay the registration on your car. Documentation fees vary between dealers. I have seen $80 to around $240 posted on this board. The 12798 payoff after the lease end is what you would pay plus the tax on that to acquire the car. If you were to go the zero down route that payoff amount would be higher. There is also a small tire fee. When they say dealer contribution may vary, that has to do with basically the profit for the dealer. I would say the extra shouldn't be more than 800 plus the 1999.
  • My son recently completed and signed a new lease for a Honda Civic. He has been a loyal Honda Customer and this is his third Civic. He negotiated the price for the new Civic, provided the first month’s payment and drove off with his new car. A week later, the Dealer called back stating that Honda Financial decided “NOT” to honor the contract due to his credit score and that he needed to return the car. This is after they had cashed his first payment!

    By way of full disclosure, he had previously been laid off from his job during the summer and had been late with a few payments. He has since found a great position and is again working full time.

    What we can’t understand is “HOW IN THE WORLD” did the Finance Manager at the Dealership review all of the numbers, then sit down and have him sign all of the paperwork, give him the keys to his new car and now say that they don’t want to stand by the lease. And in fact, he needs to return the car? There was NEVER any discussion as to the lease being ‘dependent’ on Honda Financial having to review the loan first. There was NOTHING in all the paperwork that he brought home including the lease agreement indicating that the lease was ‘pending’. And, as I have mentioned, they cashed his first payment???

    Why would they let him drive off the lot in a brand new car if there was a question OR, if something was still pending?

    We believe that it is an issue that the Dealership needs to take up with Honda Financial and it was their mistake. The Dealership is stating that ‘oh, we are sorry but you have to return the car’! Does my son have any recourse?

    Thanks in advance for your inights and suggestions,
    RTS in Charlotte
  • MichaellMichaell ColoradoPosts: 127,420
    This is known as a 'spot delivery' and it happens all the time for both regular purchase financing as well as leasing.

    The dealer is hoping that when they want the car back, the customer will have fallen in love with it and resign paperwork at a higher price, rate or payment.

    I don't think there is much recourse as the deal isn't financed. Do you know what your son's credit score is?

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • gmanusmcgmanusmc SoCalPosts: 699
    Hiker - you've been providing some great info and advice but just to clarify and make sure no one misunderstands - the residual (what you referred to as payoff at end of lease) is not affected by how much, if anything, is paid at signing to get into a lease. The residual is a percentage of msrp set by the lessor based on the estimated value of the vehicle at lease end. The length and mileage terms of the lease do, however, affect the residual percentage.

    Bill G
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • Thanks for the information. It looks like there isn't much recourse since the lease wasn't finaliized with the 'loan' through Honda Financial. My son's credit score is 654.
  • MichaellMichaell ColoradoPosts: 127,420
    Talk to the dealer .. they may be willing to re-write the contract with a higher money factor, which would increase the payment a bit.

    Keep us posted and let us know how it all turns out.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • orthopraxisorthopraxis Posts: 4
    edited December 2013
    I have been reading and learning, but need a little guidance...

    Dealer is offering the following…

    2014 Accord Sport (located in mid-Missouri)

    36k/3yrs

    MSRP 25,305
    Selling 22,500
    LEV RT / AMT 58%, 14,676
    MF .00063
    Capped Feeds 694
    Adj. Cap, 23,194
    Upfront fees (not sure what this is) 112.50
    Amt. Due at start 372.95
    Pymnt 260.45 (tax not included)

    Any thoughts would be much appreciated!
  • gmanusmcgmanusmc SoCalPosts: 699
    Selling price is not too bad at 700 below invoice. Residual and money factor ok. All in all not a killer deal but not that bad. Have you tried multiple dealers to get some competition going? Do any dealers have the 500 flex cash left? Would lower your payment to around 245 plus tax.

    Bill G
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • Bill,

    thanks for the feedback.

    I have tried, but have not pushed too hard. There are two dealers within 30mins, then its another 2hrs to quite a few. I feel somewhat restricted...

    The dealer who gave the quote I listed in my first message adamantly refused to do anything further on the price. I told him that I felt they could reduce the selling price further, but they balked.

    I sent the numbers to the other dealer and he said, sure we can beat it, but has not come back with new data.

    I do have a 2011 Accord LX-P that will be coming off a 3yr lease with 32k with an approx. 14.2k buyout. That car is in perfect condition. I did not include that in any discussion of the new deal...not sure if that is correct.

    Thanks.
  • gmanusmcgmanusmc SoCalPosts: 699
    Your 2011 is probably worth only 11-12k on trade in so turning it in at lease end is probably your best option. You might be able to get a few hundred more off the selling price working with your two local dealers. Give it a try and see what happens. The deal you have is not that bad so you're probably not going to get much more - that sport model is nice.

    Bill
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • Bill,

    11-12k for the 11 LX-P seems kind of low, no?

    I will give it a little more effort tomorrow morning and see what happens. I would like to get the payment down a bit closer to $250 if possible.

    Thanks.
  • gmanusmcgmanusmc SoCalPosts: 699
    I went by kbb excellent condition trade in for an estimate on your car's value - I was kind of surprised it was that low too. But like I said - if need be, you can just turn it in. You might be able to get the payment down about $15 if the dealers have any flex cash available.

    Good luck and let us know how it goes.

    Bill
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • Bill,

    The other dealer came through with an offer of 21.5k selling price, bringing the payment down to 261 tax included.

    I think I got a pretty good deal.
  • gmanusmcgmanusmc SoCalPosts: 699
    Oh yeah - that's much better than the other deal. They must've had some flex cash. Way to hang in there!

    Congrats and enjoy the new Accord - that sport is a beautiful car!

    Bill
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • Kirstie_HKirstie_H Posts: 11,077
    If you are a parent of young children (at least one under 12 years old) who owns a 2013-14 Honda Accord, a reporter would like for you to fill out a survey, due by December 13, 2013, for use in a print publication. Please email [email protected] no later than Wednesday, December 11, for a copy of the survey.

    MODERATOR

    Need help navigating? [email protected] - or send a private message by clicking on my name.

    Share your vehicle reviews

  • Thanks for the clarification because I definitely try not to write down anything I am not sure of, or at least preface it by stating that. I actually think I wrote the word residual somewhere on the board when I meant the word purchase. The amount is close to what it would cost to purchase the car at lease-end and I associated it with that. Your definition of residual makes it easy to understand.
    Isn't there something in small print in the lease advertisements that states what it would cost to purchase the car at lease-end? (Maybe what I meant by payoff) Is that amount lower if your down payment is higher?
  • gmanusmcgmanusmc SoCalPosts: 699
    edited December 2013
    The residual value is stated on lease agreements in black and white and in plain sight - no small print involved because it is a major factor used in calculating the lease payment. "Payoff" might be a bit different because there might be fees and taxes added to the residual if the lessee elects to purchase the vehicle at lease end.

    Bill
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • Karen_SKaren_S Posts: 5,092

    A new topic has been created for 2014 Honda Accord Lease Questions. Please go here to continue.

  • Hi CarMan,

    It was recommended to contact you in regards to my offer from my local Honda dealership here in Northeast Pennsylvania:

    For a 2014 Accord EX:
    $268/month for 35 months (includes tax)

    Negotiated Purchase Price:$22,900

    Residual: $15,600

    Accessories Included:
    Car Mats,
    Mud Guards,
    Remote Engine Start System II (Installed)

    They did mention they included any flex cash they had left since we are close to the end of the month. I would need to come up with the first payment of $268.00 + Title transfer/tags (Guesstimate an additional $170.00). So total due would be $438.00.

    Thank you,
    Dave

  • Karen_SKaren_S Posts: 5,092

    For lease questions concerning 2014 Accord, please go here:

    http://forums.edmunds.com/discussion/16719/honda/x/2014-honda-accord-lease-questions

This discussion has been closed.