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2013 and earlier-Honda Accord Lease Questions



  • cmhondacmhonda Posts: 31
    Dealer called today, and said they could do 2199 total (down from 3600) and 238 (total after taxes) a month for a 2010 LX?

    How does this sound? My husband does not even want to go back to that dealership, because of how we were treated yesterday. I do not feel like driving an hour for the same deal.
  • th83th83 Posts: 164
    Wow, that is a bad experience. I'm glad you walked out. I'd never go to that dealership again. There are sites out there (including this one) where you can review dealerships. If I were you, I'd give them the nastiest review possible.


    If you're still set on getting a 2010, you should be able to get one for around invoice with a bit of negotiation (like I had to endure yesterday). A 2009 would still save you a bit of money despite the significantly lower residual value, if you still want to go that route.

    So the numbers they gave you were for the LX-P? Let's see...invoice for a 2010 LX-P is $21,437. Plugging the numbers into the lease calculator I get: $220.79/month (7.5% tax included) with about $2900 down including all of your fees (I rolled the doc fee into the payments) and $2200 worth of cap cost reduction. Without the $2200 cap cost reduction, your payment would change to $289.64/month with a little under $600 out of pocket.

    The 2010 LX would only be about $10 less per month no matter how you look at it, and a 2009 LX should be $265 a month (with tax) with roughly $550 out of pocket (no cap cost reduction).

    The only advice I have left to give is wait until the end of the month and then email the internet department of every dealership in your area with an offer. Offer them invoice price on the 2010 model and see what they say. If any of them agree to your offer or at least come close, see if the others are willing to beat it. Whoever gives you the lowest price wins. After you pick a dealership, then tell them that you want to lease using that selling price. Don't let them know that you're leasing until you settle on a price that you believe is fair. That way, they can't be sneaky and play with the payments and down payment while dancing around the selling price. It just kills me how dealers act as if the only thing that matters in a lease deal is getting the payment you want. Yeah, a low payment is great but I don't want to put down thousands of dollars just to get there when a simple adjustment to the selling price could give me the payment and the down payment that I want. The selling price determines the cost of the lease. The money factor is set (depending on your credit), the residual is set (it only differs if you want more mileage), and the fees are set. The only variable is the selling price, yet that is the only thing that they seem to not want you to know.

    The dealer and the manager that I dealt with yesterday just seemed absolutely appalled when I asked them to cough up the lease details and they about flipped when I asked for the selling price, haha.
  • cmhondacmhonda Posts: 31
    The selling price of the 2010 is 20810. That is how they got the figure of 238 per month with 2199 down.
    Do you think this sounds ok? This is also for a regular LX, not LX-P They said the LX-P is not offering any specials at this time.
  • th83th83 Posts: 164
    That's not a bad deal, $277 above invoice. When I plug those numbers into the lease calculator (, I get $218.81 with 7.5% tax included and roughly $2900 down including the first month's payment and all of the fees you listed in a previous post, assuming that the tax rate is indeed 7.5%, the money factor is .00133 and it's a 12k mile/year lease. And that payment even includes the $499 doc fee, which I rolled into the payments along with the $595 AHFC acquisition fee. I don't know why the numbers are different, unless there's something about the terms that I don't know about...

    And they're full of it when they say the special only applies to the LX. The numbers I got for a 2010 EX were based on the special they have listed for the LX. The money factor is the same for all Accords on a 36-month lease. The only thing that differs between the different models and years is the residual value and of course, the selling price.
  • cmhondacmhonda Posts: 31
    I think maybe the numbers are higher because it is 2199 down, not 2900?
  • cmhondacmhonda Posts: 31
    very very weird.... They sent me an email to an email address I know I did not give them. I never use that email address because it has _ and - and it is just confusing to say, so I use a different email. WEIRD!

    But anyways, this is what they sent me.

    2010 Honda Accord LX, Auto, 3 yr lease, 12k per year.

    Car MSRP is $22,565.00

    Appearance PKG 899.00

    Mud Guards 269.00

    Cargo Tray 199.00


    Lease #’s Initial cap cost $20,823.00

    Total Money down- $2,199.00

    Total monthly payment $238.97

    This includes all taxes, fees, tag, title, and doc fee.

    The quote that was used on Friday:

    Initial cap cost $21,823.00

    Total money down $3,410.00

    Total monthly payment $234.90

    I took $1000.00 off the initial cap cost and reduced your down payment by $1,211.00

    This lease payment is good until 02 November 2009. I do not know if Honda will continue this lease special.

    I have given you a great deal, and would like talk to you if you have any questions.

  • Carman, Thanks for answering this question every month. One day it will the answer I'm looking for, I'll lease my car and then not bug you for another 3 years;)

    Looking to lease an EXL V6 Sedan for 36 months with 15K year. Have the numbers changed since Sept.?

    I don't care what year, but want a certain color combo so which ever year has the best deal is good for me.

  • Hey Carman, Maybe you could advise me, I am interested in a 2010 Honda EX-L V6 with Navi, What would be a great lease deal on this car. I live in NC. I went to the dealer and they quoted me with 2000 down, 380 per/month. for 36 months and 12k p/year. Is that a good deal, I feel like I can get a lexus for that much. Any thoughts??? please help!
  • Ok so Im going to start off by saying that this is a great forum for car leasers since you guys really provide information that 95 percent of people do not know so thank you for that.

    Now to car shopping-
    my lease on my 2007 civic ex fully loaded is ending early next month
    and I am looking at the accord Coupe.

    instead of giving you the numbers and letting you judge if the deal is good or not I really want to understand what the components of getting a good lease are.
    I know it compromises of the set money factor and selling price and residual, what I don't understand is what does the cap cost mean?

    the latest deal i've been offered for an LX coupe not an EX
    is $239 a month 36 month/12,000 and 2000 down.

    all I know the car that I want has an msrp of 25,500
    what can I do to figure out the best price.

    I live in miami,florida

  • th83th83 Posts: 164
    Hi caseyman,

    The cap cost is basically the selling price of the vehicle in a lease. The base cap cost is the selling price of the car including destination but without any fees or cap cost reduction. The net cap cost is the base cap cost plus any fees rolled into the lease, minus any cap cost reduction (aka down payment) applied to reduce the monthly payment.

    For example, on the lease deal I was offered Friday, the base cap cost was $22987 including destination, and the net cap cost was $23464 (base cap cost plus $994 in fees, minus $517 in cap cost reduction).

    A good price to shoot for on a 2010 right now is around invoice, which on an EX I4 coupe automatic is $23086. It may take a good bit of haggling to get there, and you may not get them to go that low at this time, but that should be your target price when negotiating.

    I'd estimate some payments for you, but I'm unsure of the residual value on the EX coupe automatic. I'm guessing that it's 2% lower than the sedan's, which is 62%, but I don't know for sure. Eh, I'll throw out some numbers anyway.

    2010 Accord EX coupe automatic
    MSRP: $25390
    Base Cap Cost: $23086
    Fees rolled into lease: $595 AHFC acquisition fee
    Net Cap Cost: $23681
    Residual: $15234 (60% of MSRP)
    Money Factor: .00133
    Term: 36 x 12k
    Base monthly payment: $286.40 + tax
    Amount due at signing: First month's payment, DMV fees, doc fee, and any other misc. fees your state may charge, including tax on those fees.

    My tax rate is 3%, so my numbers for the above lease would be $295/month with $777 due at signing ($399 doc fee, $69 registration, first month's payment, and tax on those fees).

    These numbers are just an example using an estimated residual value, so take them with a grain of salt.

    I hope this helps.
  • Thanks th83

    This helps greatly

    so based on your number of net capcost 23681
    if my down payment is 2000 than the net cap cost would be 21681?
    also im trying to figure out the math you did to get $286 a month...

    is it net cap cost - residual /36
    Residual Times Money factor

  • th83th83 Posts: 164
    Use the calculator at, it's much easier to use. Otherwise, it's ((Net Cap Cost - Residual)/36) + ((Net Cap Cost + Residual) x MF) to get the base monthly payment before tax.

    Your down payment of $2000 includes other fees, including the first month's payment unless you're putting down $2000 plus fees. Then your net cap cost would be $21681, but then you'd be putting down closer to $3000. I don't recommend putting down that much money on a lease. Should something happen to the car and it's totaled, you'll lose all the money you put down as your insurance company will not reimburse you for that amount, only the payoff amount on your lease. If you must put money down, I'd say keep it to a minimum. The lease deal I negotiated for a 2010 EX sedan is $284/month with $600 total out of pocket. I don't even want to put down that much money, but doing so puts the payment right around what I'm paying for my current lease (I put $2200 down on my current lease and I will never do that again, I know better now).
  • albert72albert72 Posts: 146
    Good morning Car Man. I have narrowed down the list of cars I would like to lease and the Accord is one of them.

    Can you tell me the MF and residual on a 2010 Accord EX-L Sedan for both the 4 cyl and V6 models? No NAV for either one.

    Lease I would like is 36 months & 36,000 miles. Can you (and other readers) tell me what a reasonable price should be for this vehicle as well - again looking at No NAV but the cars will have automatic transmission?

    Thanks for your help.
  • cmhondacmhonda Posts: 31
    2010 Accord LX

    216 a month 36 months/12K per year

    2199 down?

    Is this a good deal?
  • gpsacgpsac Posts: 98
    what kind of car insurance do you have that it pays off your balance? no matter what the car is actually worth before it is totaled? mine only pays what the car is worth. if it's worth more than the balance, cool. if less, then the lease has gap coverage.
  • cmhondacmhonda Posts: 31
    When you lease, Gap insurance is included in the price of the car, the dealer pays for that.
  • gpsacgpsac Posts: 98
    thats what i just said. but the dealer doesnt pay for the gap coverage. you are paying for it. its built into the lease by ahfc.
  • cmhondacmhonda Posts: 31
    We've been going round and round about leasing an Accord.
    Well we decided not to because it was a bit more then what we wanted to pay and we fixed the spare car.
    So today we get a call from the dealer offering 160 a month for 36 months and 750 down.
    I am so tempted by this offer!
    Any advice
  • gpsacgpsac Posts: 98
    Even assuming the 750 is actual down payment (capitalized cost reduction) 160 @36 is like 45 a month below invoice (according to Edmunds invoice) which is like 1600 below invoice or just under 19k.

    My gut says they're BSing you to get you in. Honda has very little competition in the lease area and don't have to give their cars away. On the other hand, if they are passing 1500 to the dealer like the 09's, then I paid way to much! :surprise:

    Spent several hours myself yesterday getting an 10 LX auto sedan for roughly 600 over invoice. Came to 232 + tax @ 36 12k. 1000 out of pocket (450 cap red and the rest 1st, lic, FL tax and fees)
  • cmhondacmhonda Posts: 31
    This is for a 2009 Someone told me they are doing 2250 dealer cash for 09's

    For a 2010 we had them at 218 (including tax) a month with 1000 down
  • gpsacgpsac Posts: 98
    Marketing support is on 09's only and is 1500, not 2250. I think that "someone" is jerking you around.

    With 1000 down (assuming you mean "down" and not first, lic, etc) 36mo @ invoice would be 199 + tax. 10's have been out only a few weeks and you passed on an invoice deal? No offense, but what else is out there to pick from that you would actually want to drive for $218 a month?

    I find it amazing. The dealer I was at yesterday said they do very little leasing! The fact that someone would actually "buy" an accord with the lease support Honda provides is incomprehensible. I guess unless they have poor credit. I mean compare 218 to what one would pay to finance this deal at the 2.9% Honda is offering on the 09 &10 Accords. At invoice with 1000 down (and not including sales tax) the pymt would be over 350 a month for 60 mo! "Yea but after 5 years I own it!" Own what? A five year old car with 70 -80k miles on it? And how much would you put into that car to keep it going 5 yrs? How many trips to the tire store? The brake store? And then the hoses, belts, filters and flushes. Let someone else do it I say!

    To be honest I thought about it myself. I thought, "If I financed it I could pass it on to one of the kids." Then I woke up! They can get their own damn car! :)
  • cmhondacmhonda Posts: 31
    The thing is we are on the fence about buying a car at all. This would be to replace a car that works fine, just old, and starting to give us problems, but it is paid for, so going from 0 a month to 218 a month (plus an increase in 35 dollars insurance per month) for us is a major decision.

    And when I say "Down" I meant out of pocket, meaning walk in with a check for 750 dollars and leave with the car and a payment of 160 a month+ tax for 36 months/12000 miles per year, 2009 Accord LX.

    And that is WITHOUT our trade, they said they would give us 800 dollars for hubby car (I think his car is worth about 3 dollars to be honest! haha so 800 is a good deal) so it would 100% cover our out of pocket, and we'd have 50 left over.

    I bet the only color they have left is one we refuse to drive, like gold or burgundy. :cry:
  • cmhondacmhonda Posts: 31
    Here is my information about dealer cash from a friend that is a Honda Car Salesman

    Dealer cash on Accords just came out on the 2009 models only. If you lease a 4 cylinder 2009 Accord right now, the dealership gets $2250 from Honda. So they can give it to you without the $ down, because they are getting that $ back.

    The dealer cash to BUY one right now is $1500 (4 cylinder) or $750 (6 cylinder), and to lease a 6 cylinder is $1500.

    Just an FYI in case that were to help you (or anyone else) negotiate a deal. Basically, you *could* get a 2009 Accord for up to $2250 off of invoice right now and the dealership wouldn't lose $. That's how I pay so little for cars.
  • gpsacgpsac Posts: 98
    Well.... Let's assume your salseman friend is not smoking something :)

    and Honda has up'd the marketing cash to 2250 (on the few remaining 09 LX automatic sedans available). And let's assume the rate on the 09 is the same as a 10 at .00133. That the residual is 55%.

    And finally that you can get one for invoice (20,398). That they will give you all the 2250. And all you have to give them is 750 cash or trade allowance. And that your first payment is included in the 750 and there are no other fees at all. Leaving you with even a 590 cap red (down payment). That still comes to 194 (incl 7.5 tax).

    To get to 160 (inc 7.5 tax), they would have to further reduce the price over 1200! Damn woman! I don't care if it were pink or purple! I'd be drivin it! Ok. Maybe not. :)
  • cmhondacmhonda Posts: 31
    Does it make a difference where we are located. I'm not sure if Florida has the 7.5% sales tax on cars. However, this quote came from Mobile, Al so I think they do, so that would be pointless either way.

    I know we have been price haggling back and forth for a few weeks now, gone in several times, to talk numbers, but never commit to buy.

    At first they were pushing us into a 10, and now they seem to want to push us into an 09, so I think there must be something going on.

    Hubs said if he calls on Monday and that is the TRUE price, no extra hidden fee's he will have a new Accord on Monday!

    This is the email from the dealer.

    I have a new price for you on the 2009 Accord, just found out about it.

    $160 a month for 36 months plus tax with $750 out of pocket.

    Give me a call.
  • gpsacgpsac Posts: 98
    I'm in Orlando and the tax is 6.5. Only on the payment and any down (cap red).

    I agree with Hubs! If you can get anywhere near that deal, get two! ;)
  • cmhondacmhonda Posts: 31
    I was saying I should sell my 06 Honda O, I owe 15K on it, so I think I have some value, and we can get two new Accords for less then I pay per month for my Honda O. But then I realized I have the kids most of the time in my van, and it looks like a bomb went off in the van from them, so I guess I'll just keep my van. dang kids!
  • isellhondasisellhondas Issaquah WashingtonPosts: 19,559
    The current Accord leases are incredible but you did distort things a bit here.

    Yes, after five years you do own it since you didn't "rent" it.

    " Own what" ? Well a 70- 80,000 miles Accord is just getting started in it's life.

    " Who much would I have had to put into it?" Not much really.

    " How many trips to the tire store?" Oh, probably ONE at 50-60,000 miles.

    Hey, I lease mine and I'll probably lease my next one two months early because of this deal but there are advantages both ways.
  • isellhondasisellhondas Issaquah WashingtonPosts: 19,559
    " Dang kids"??

    Don't them get away with trashing your car! ;)
  • cmhondacmhonda Posts: 31
    haha nope! I have 3, ages 8, 5, and 2. And they can do a number! I tell you! Plus we travel A LOT in the van, sucks about being a military family, you get to put tons of miles on your car every holiday visiting family. My van is 3.5 years old and I have 54K on it. I do not think I could manage 12K per year.
This discussion has been closed.