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2013 and earlier-Honda Accord Lease Questions



  • Hello All,

    I have read this forum, and I see that the MF is 0.022, but would like to know the residuals for 36mo, 12 and 15k leases. Does anyone have this information? Thanks in advance...
  • dwynnedwynne Posts: 4,018
    Ask the dealer - they can't change them as they are fixed by Honda Financial. Note that it can and will vary depending on the model (coupe or sedan), engine (I4 or v-6), and the trim (LX, EX, EX-L, etc). So saying "tell me the residual" is not going to mean a lot - you have to pick something first.

    In general, on the sedans it is around 60% for the I4 sedans and maybe 61% for V-6 sedans for a 36/36k lease and drops by 2% for a 36/45k lease. The LX may be 1% less and sometimes the NAV or leather cars may be a point lower too.

    Also, 0.00220 (not 0.022 as you typed) is the MF for tier 1 on SOME I4 sedans right now. Others may be lower or higher and the v-6 models may have a different number (v-6 SE is 0.00182, for example).

    So pick something and we can see if we can find the numbers for THAT car. :D

  • i'm working a 3 yr lease on the V6 SE sedan. dealers in my area not discounting cap cost much more than 500 over invoice. can't get them to budge. anyone else having luck getting the cap cost down well below invoice? i know they're selling for well below invoice in some parts of the country....
  • dwynnedwynne Posts: 4,018
    Your profile does not tell us where you are nor does your message, so we have no idea where "in my area" is. Let us know, and maybe someone can suggest a dealer that will offer a better price. If you are in the SE, you can get invoice from a dealer in KY and below from one in GA (last time I checked).

  • w5tw5t Posts: 10
    I am in North Carolina. I currently have a 2003 Honda Accord EXL V6 without navigation. I am leasing it for 48 months (12,000 miles a year)and the lease is up in March 2007. The current payoff to purchase the car off of lease is $14,340.00. The car has 31,500 miles on it and is in very good condition (garage kept, new tires, new brakes). The paymnet on my existing lease is 294.13 per month plus tax for a total payment of $302.95. My local dealer wants to sell me a new Accord EXL V6 (same specs as my current one with an MSRP of $27,400)on a 36 month lease for $332.00 per month plus tax. They want no money down as they are telling me that because my current leased car is in such good condition and has such low miles that they are looking at it as a trade in and giving me over the pay off amount. They say that they are selling me the new car at dealer invoice and allowing me $15,200 for my car. My question is, is that a good deal? In looking at the NADA and Edmunds trade in value sites and it seems like they should be giving me more for the trade in and therefore give me a lower lease price. I like my current car and am seriously considering buying it when the lease expires however, if I could trade in my car for a new identical 2007 and keep my lease payments the same, I would probably do so. Is this realistic?
  • kyfdxkyfdx Posts: 136,764
    4 years later.. 3yr lease vs. a 4yr lease..

    I doubt you can get the same payment...

    But, the new lease payment quoted looks pretty good.. If you have enough equity in your current lease to pay the upfront charges on the new one, I'd say it is a great deal...

    I'd rather lease a new one, than have $350/mo. payments on a 4 year old car... for 4 more years..


    (taxes in NC must be cheap!!)

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • I used this site during the past week or so before buying my Accord and really enjoyed it and learned a lot; Thanks! For others like me looking for some reference points, I will post some numbers I got from different dealerships. I live in SC and surveyed the entire state, along with close dealerships in GA, for the best prices. Here are the best numbers I came up with for a 2007 SE-V6; MSRP $23945, Invoice $21638, money factor .00182, 3yr lease, 12K miles, residual $15155.45
    Dealer 1: 21053+595(acquisition fee)+289.50(doc fee)+39(tag fee)=257.05 per month with first month payment and tax($300) due at signing.
    Dealer 2: 21337+595(acquisition fee)+179(doc fee)+39(tag fee)=262.19 per month with first month payment and tax($300) due at signing.
    Dealer 3: 21375+595(acquisition fee)+99(doc fee)+39(tag fee)=260.95 per month with first month payment and tax($300) due at signing.
    Dealer 4: 21167+595(acquisition fee)+87(doc fee)+39(tag fee)=254.43 per month with first month payment and tax($300) due at signing.
    Dealer 5: 21438+595(acquisition fee)+ZERO(doc fee)+39(tag fee)=259.88 per month with first month payment and tax($300) due at signing.
    I should note that dealers will let you pay some, none, or all of the fees up front to change the monthly payments I cited. Watch those doc fees! They can make a big difference in your final costs. For ease, I only paid first month and taxes up front and listed those numbers above. Good luck!
  • Question: Why do the Accord SE V-6 lease deals advertised on Honda's website claim an MSRP of $24,845.00 (w/dest.) when the MSRP is really $23,945.00 (w/dest.)?

    P.S. Thanks afajbt, good info.
  • The true MSRP is $24,845 (incl. destination) and there's a $900 manufacturer's discount on the SE V-6... its shown on all window stickers for the '07s.
  • Is it common that dealers allow you to roll the acquisition fee into the lease? It seems like they always want that as part of the down payment in the advertising.
  • kyfdxkyfdx Posts: 136,764
    Sure, you can roll it in...

    In the advertisements, they are trying to show a low monthly payment.. If you have decent credit, you can almost always walk out of the dealership with nothing out of pocket, but the first payment.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thx for quick responses! Couple more questions:

    1) Does rolling acq. fee into the payment result in changing the net cap cost?

    2) According to my SE V-6 lease calculations, the MF right now is .00182 and 61% for a three year lease, and a 73% residual for a two year lease. Is the residual and the money factor the same for the EX V-6?
  • rhard49rhard49 Posts: 226
    I'm about to commit to this deal how does it sound. 2007 Accord Sedan EX V6 36 month lease 325.00 per month sign and drive, due at pick up 1st month 325.00 and dmv fees 157.00
    all taxes and fees rolled into lease Sales tax = 8.675% Included.
  • Thanks a ton afajbt! Your info helped me today with my negotiations. I also live in SC and so I used your email quote as proof to the dealer I wanted to buy from. Telling them that I didn't want to have to call these other places but I could do that if I had to. I ended up getting close to your deals listed - but I was willing to pay just a little bit more to buy from the dealer I already like working with. Again, thanks so much!
  • topgun7topgun7 Posts: 412
    rhard, can you break down your lease a little bit further? what is the cap cost, money factor and residual? Are you in Nor Cal or So Cal and what is your dealer?

    I am looking for a EXL V6 with Nav and even the price quote is reasonably well (26288, invoice 27224 and msrp 29995) but the monthly payment is high 411 including tax. So I am trying to gather some more information for negotiation.
  • rhard49rhard49 Posts: 226
    36 Month Lease
    MSRP 27,995.00
    Sell Price 24,100.00
    Residual 16,797.00
    Sales Tax (8.675) 1,014.00
    Aquisition fee 595.00
    Adjusted cap cost 25,709.00
    MF .00182
    Payment 324.92

    Due @ Pickup first mo 324.92
    Title Fee 55.00
    Waste Tire Fee (NYS) 12.50
    Plate xfer fee 60.00

    I'm in NY I Pick it up Tuesday
    You may want to use this spreadsheet it makes "What if" things easier to track. And its very hard for a dealer to argue with Math.
  • topgun7topgun7 Posts: 412
    Thanks for the info... I started to get the quotes coming in now. It is slow since most of the sales person probably is on the floor instead of answering internet quote. The best quote I have so far is

    EXL-V6 AT/Nav
    MSRP: 29995
    invoice 27224
    cap: 26288+acquisition cost
    residual: 66% for 2y/12k mi and 58% for 3yr/12k mi

    drive off 655 (no security deposit)
    monthly payment: 411 (include tax) for 2 yr; 374 for 3 yr lease
  • topgun7topgun7 Posts: 412
    forget to mentioned the money factor is 0.00182 and the monthly payment include 8.25% of sales tax.
  • I am offered in los angeles an Accord SE V6 auto for 21,377. On Honda's website the option to purchase at the end of a 24 month lease on this vehicle is 18,136. So if I want to put no money down to start the lease, how much should I expect to pay per month for the vehicle. The national offer is 1999 down and 199 per month for 24 months. Thanks for all your help.
  • Hi sijohnjohn. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Prices Paid Forum
  • Here's the information that you're looking for, topgun7. Honda Finance's new buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Accord EX-L V6 Sedan with navigation with 12,000 miles per year are .00090 and 56%, respectively.

    Prices Paid Forum
  • Hello getwired. This car's lease program just recently changed. I would be happy to give you an idea of what its latest money factor and residual value are, but in order for me to do so I need you to tell me exactly which Accord you are interested in. This is important because this car's lease program varies by trim level. Let me know and I'll share the latest program info with you.

    Prices Paid Forum
  • Wow, thanks for the detailed post afajbt. Real world examples of deals like the ones that you shared are very helpful for consumers who are in the market for similar vehicles.

    Prices Paid Forum
  • Hi opie100. If you decide to roll Honda Finance's $595 acquisition fee into your lease rather than paying it at lease signing it would increase your vehicle's capitalized cost, and ultimately its monthly payment a little.

    Honda just introduced a new lease program for the car that you are interested in. Here is the latest info. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Accord EX V6 Sedan with 15,000 miles per year are .00090 and 56%, respectively. This car's 12,000 mile per year residual value would be 2% higher.

    Prices Paid Forum
  • Hi deca1980. Honda just introduced a new lease program for this car yesterday. Its new advertised lease payment for the 2007 Accord Sedan SE V6 is $209 per month for 36 months with a $1,395 capitalized cost reduction. Having said this, manufacturers' advertised lease payments often leave a little meat on the bone so to speak. I would not be surprised if you were able to negotiate a selling price of $500 over invoice or so on this car. If you are able to negotiate a lower selling price than the one that was used in the ad, your car's monthly payment would be lower. I would be happy to estimate what a zero down lease of this car would cost you right now. Just look up the dealer invoice price (including destination) of the exact car that you want and let me know what it is. You can find this info in the following section of this site: - New Vehicle Pricing.

    Prices Paid Forum
  • Car_man,

    Do you happen to know the lease rates on a Accord Sedan EX V6 with Navi for 24 and 36 months with 15k miles per year? Are the rates the same for the Accord Coupe?

    Are they similar to the rates you posted above?

  • Car Man,

    I was wondering if you would be able to tell me with the current Honda Lease offer for the SE V-6 about what I would expect to pay if I did only $1,000 down with trade equity and first months payment. The car I am looking at has an invoice of $21,638, what should I try to negotiate this price to?

    Also do you know the details of the Honda Recent Graduate Program? I know Toyota as long as you have no negative credit issues you will be approved for Tier I credit with proof of employment. Thanks for your help,

  • scubaduscubadu Posts: 17
    Just a quick thanks to everyone in this forum, especially afajbt. I walked into the dealer the week before Christmas. Almost no one was shopping. What a great time to buy a car.

    I ended up leasing a 2007 Accord SE V6. It was one of two in stock (both white, which I liked). $21,600 cap cost, $1200 cap cost reduction, $100 doc fee. MF of .00182 for 2 years (15,000 miles/year). My payment is in the low $220's, including tax. You can't even lease a Civic for that!

    I wanted the dealer to go down to $21,300 but they refused. To make the deal, they threw in the Honda Music Link iPod kit. FYI the sound is great, but the kit is a piece of crap. You can't see the names of songs on the stereo.
  • What all did you pay upfront on the lease? I am looking for the same vehicle and wanted to get an idea. Thanks,
  • scubaduscubadu Posts: 17
    Total out-of-pocket was a little over $2000. That consisted of $1200 cap cost reduction, acquisition fee, first payment, doc fee, registration, blah blah blah.

    Take a look at the Civic forum and you'll see people paying more.
  • topgun7topgun7 Posts: 412
    Car_man, thanks for the info.. I was shopping in Dec and almost pulled the trigger for a 800 drive off, 385 a month/including tax for 2 year, 12 kmi/yr lease (0.00162 money factor, roughly 1500 below invoice (apparently there is some honda cash for Dec), 66% residual). We would like to get it down to 360 a month, so we are holding off.. Since the 3 yr is 0.0009,I assume that 2 yrs is also 0.0009? What is the residual of the EXL V6 w Nav for 2 yr/12K mi?
  • rhard49rhard49 Posts: 226
    Carman or does anybody know do AHF leases include GAP insurance?
  • edb5edb5 Posts: 5
    They all do, I believe.

    By the way, the current MF on the Accord EX-L w/Nav, manual 5sp is .00096. The residual for a 36 month, 12k/yr. mileage limit lease is 57% MSRP. When negotiating the price, note that the holdback/interest amount (which the dealer uses to compute its net-net, what it considers its true price for the car) is roughly 2.9% of MSRP or around $787.50.
  • dotsyncdotsync Posts: 19
    What are the lease rates looking like on a 07 LX V6? I'm looking at a 24 or 36mo with 15k. Any lease cash or rebates this month?

    To be specific, the MSRP of the vehicle i'm looking at is 25,795. I'm planning on $0 TOP. What would this lease look like?

  • Car Man - I am looking to get a low cost lease, it is a 2007 Accord sedan, EX model. When I go to the dealership I would like to know what kind of money factor I should look for. I have a credit score in the low to mid 700's. Also, what is negotiable in negotiating a lease? I need to get a new accord with no money down and keep my payments under $300/month. I certainly would rather be armed with more information and not come across as a monthly payment buyer. The information on this board is extremely helpful, I appreciate your taking time to help.
  • Hello Car Man, I just read about this offer ($209/mo, $2199 due at signing) -- I know that my credit score (660+) can be a problem so I don't expect to get this offer as it is. (correct?)

    My question is: when we have offers like this, can you negotiate the capitalized cost of the car? I went to a dealer yesterday in CT and when I asked him about negotiating this price, he smiled at me and said: "There is no such thing" :(

    I'm also planning to trade in a 2000 Subaru Forester -- how can I use a trade in when leasing?

    Thanks for the help
  • ... one more question: I know it pays off shopping around for financing (my credit union can give me a good APR to finance a car), but what about leasing? Is it worth applying online at Honda Financial to get pre-approved for a lease? I have looked at other banks but they work only with car dealers, not car buyers.

    Also, since I'm planning to visit different Honda dealers, I don't want them to run my credit score every time we get close to a deal.

    Thanks again!
  • edb5edb5 Posts: 5
    Man is this a great time to lease an Accord. I traded a 2004 Civic EX with 15750 miles on it, so the only cap. cost reduction I had was standard 20% of MSRP applied from my trade (they cut me a check for the rest). The money factor is currently .00096, and the residual for a 36 month, 12k/year lease on the EX-L 5sp. manual is 59%. So, I ended up getting $4950 in cash back and a payment of $105 per month, with the Honda MusicLink included.
  • scubaduscubadu Posts: 17
    You negotiate a lease based on purchase price NOT a monthly payment. Your trade is no different than if you were buying a car.

    Every year you are entitled to a free copy of your credit report. Make sure to get all three. FYI credit scores are not always based on the same model, or weighed identically. My advise is to use and get the true FICO scores. If you go to Experian or Transunion, they will sell you simulated scores.

    I didn't ask the dealer about pre-qualifying. If they offer it, make sure the inquiry is promotional. And if you are planning to lease an Accord, I don't see anyone offering lower money factors than American Honda.
  • Carman,
    How does the GRADUATE PROGRAMS work as far as the accord?
  • Hi Car_man -
    First off, thanks for all the help in these forums!
    I'm interested in leasing (36 mo., closed end, 12,000 mi/year) a 2007 Honda Accord LX sedan--4 dr, 5 sp automatic (the regular LX, not the Value Package or the Special Edition). MSRP is $20,925 plus $595 destination charge.
    Could you figure out an offer for me to make to the dealer? In my state the auto sales tax is capped at $300 so I guess that figure plus the tag transfer ($25) plus the first month's payment would all be paid at lease signing. Financing through Honda Finance.
  • dotsyncdotsync Posts: 19
    What is your zip code?

    BTW, here is a link to the lease rates for january for the Accord: link
  • Zip Code: 29464

    Also, thanks for the lease rates link!
  • dotsyncdotsync Posts: 19
    using the following figures and a lease calc:

    36 mo/15k mi – Residual Value 57% of MSRP – .00096 Base Money Factor Buy Rate

    MSRP: 21,520 (includes destination)
    INV: 19,573
    NEG CAP: 18,823 (there is a $750 dealer incentive that may or may not apply to leasing in your area. i have confirmed that it applies in NY but your area may be different)

    No Down Payment with all fees/1st pmt due at signing
    (tax, dmv, acq fee ($595), and first months payment)

    Monthly payment: $211.98

    If you finance the acq fee you are looking at: $229.08

    Again, this is assuming that $750 marketing support dealer incentive applies in your area. I would call and confirm with dealers in your area. Just ask to speak to their financing manager and ask if this incentive applies to leasing. Don't get into numbers on the phone, just let them know you are shopping around and you will stop by if you are interested. Also, the $300 tax cap and $25 dmv fee seems odd. If this is the truth, that is awesome.
  • Thanks for the info! I'll check into the marketing support.

    Would it make any difference if the mileage allowance was 12K/yr. rather than 15K/yr.?

    And yes, the $300 tax cap is correct--at least here in SC. Same with the $25 tag transfer.

    Thanks, again.
  • dotsyncdotsync Posts: 19
    36 mo/12k mi – Residual Value 59% of MSRP – .00096 Base Money Factor Buy Rate

    The 2% residual difference should bring your payment down to $200.43 without acq fee and $217.52 with acq fee rolled into cap.
  • usairusair Posts: 23
    2007 accord 4cylin. $1000 trade in equity $170 per mon lease for 36 months. including first month payment. Dealer says he gave me $1600 for my trade, but I doubt it,
  • jdillenjdillen Posts: 13
    MSRP: $28,095
    Selling Price: $26,300

    What are the residual and money factors for a 36 month lease? The kicker is that I need extra mileage (current lease is 20k miles/yr and that's what I'd need). How does that affect the residual and money factors? I'd assume it would just lower the residual value b/c of the additional mileage put on the car. Any info. would be much appreciated. Thanks!
  • rhard49rhard49 Posts: 226
    I would work on the cost sites like put the present price at about 24800 I think you can get closer to 24k. I have a 2004 6 speed I love it but they do have some transmission issues so take one for a good hard test drive. The 2005-2006 are know to have some issues with it poping out of 3rd gear. Not sure about the 2007. In august 2006 they introduced a newer synthetic transmission fluid to deal with it. It is a suprising quick little coupe some of the car mags post it as 5.9 0-60mph
  • jdillenjdillen Posts: 13
    Thanks for the response, rhard49. Looks like for a selling price I should be near $25k atleast, as that is what carsdirect is showing as the target price. If anyone could provide lease info. for this car as well I'd appreciate it. Thanks again - this forum rocks!
This discussion has been closed.