24,359.16 for the final price with all fees included on an EX-L. MSRP 25,945.00, which is good I think because the 25k would not include all fees. Closer to 27k when set and done.
Remember, dealers cannot use dealer cash incentives for leases, but for only purchasing to own, Lease incentives are in place, but multiple dealers have told me this, so it must be true.
Money factor:.00129 (IS THIS GOOD?) Preferred Credit rate.
$340 Sign and Drive OR $329 Pay at signing
Does this look good, they printed out everything for me, it does look like the are making $100 out off the deal.
Should I pay first payment, or keep the cash and pay the $340.
Also, I had a trade of a 2006 Accord SE, they paid that off completely! I simply want to move up in car, because I love this accord! 08's will be expensive!! So keep this awhile, and then trade back in about 2 years.
Let me know! I thinks its a good deal, and they have limited EX-L 4cyl accords now! Deal or no deal, after all they didnt have to pay off my car in full, they could have rolled the negative of about 2k into the next deal!
I went to a dealership today and this is what Coral Springs Honda quoted me for 36 Months, 15K miles/yr:
Accord LX Sedan 4D 2007 Monthly payment: $270 Tax: 7% Trade in: 88' Accord in good condition with 80K miles on it (KBB trade in value of $1370 or so)
I wanted $225 but they wouldn't give it to me.
Some of my info: My oldest credit card is 2 years old, my total credit card limit is $9200. My TransUnion score is 724 and my FICO is 683. Been working for 4 months. I graduate in less than 4 months. Never bought a new car before, no car payments either.
I thought their offer was ludicrous, any suggestions?
hey, i found a lease quote in San Leandro (Norcal) honda dealer for 20,833 for the same model (EX I4 AT) including destination charge. just fyi. oh, and the previous quote i posted before was from huntington beach honda.
I shopped a few dealerships before making a lease decision on a 2007 honda accord ex-L with a 4 cylinder. It was 323 a month and about 472 down including first month's payment on a 2 year 15,000 miles a year was that close to what it should be? Thanks. I think the buy-out at the end would be 16,700.
Yes. The suggested cap cost reduction contribution by the dealer of $1605 which would have saved about $30 /mo. This is suggested by Honda because they know the dealer can still make decent money with this contribution. You can do even better.
I'm new to this game I want the car advertised on the website below. I walked into a dealer and he offered me this exact price. I told him I wanted leather seats and he said he could give it to me for this price. Is this a good deal. If not, how should I negotiate with him. I'm sorry I'm so ignorant but I've always purchased cars and this will be my first lease. Any thoughts greatly appreciated.
DIRECT FROM THE HONDA WEBSITE-------------
FEATURED SPECIAL LEASE: Closed-end lease for 2007 Accord V6 Sedan EX Automatic Transmission (Model CM6657JNW) for $239.00 per month for 36 months with a $2,499.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $3,333.00 total due at lease signing (includes first month's payment, security deposit, AHFC upfront acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.
Subject to limited availability. Through 9/4/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2007 Accord V6 Sedan EX Automatic Transmission vehicles (Model CM6657JNW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $27,995.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $23,574.43. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $8,604.00. Option to purchase at lease end $15,677.20. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details.
That's about the non-lease quote SL provided me. Took them a week to get me one and the jokers used a .0030 $ factor which was way too high. They kept sending emails asking for my phone number and I will not deal with anyone unless they give me a written quote.
So far, the quotes that I've gotten are oddly high. Across the board dealers are coming in about a grand over invoice for cap cost. Anyone getting anything near invoice or below invoice? I would think now that the 08s are here they would be hot to unload 07s.
Also, any idea on the inventories on manuals. Been thinking more about that rather than an auto.
the 2007 accord ex-l i wrote was 336 month for 2 years at 15000 miles a year was a 4 door sedan. the price you said i could save was 30 a month is that right or was that for a coupe? and if it's going for 293 a month somewhere on a 2 year at 15000 a year, where do i find that deal. because the dealer i dealt with said they were not negotiating. and the other 2 dealers wanted 247 a month.
I just got a final price on a 2007 Accord EX-L with a lease and not sure if the lease is a good deal. I'm buying from a Philadelphia area dealer. Here are the details:
Selling Price (Capital Cost) $25,000 Residual 54% Moneyfactor .00050 Buyout at end of lease is $16,197
Monthly $315.00
With $592 due at signing
I think the price of the car is good but am concerned b/c it's the end of the model that the depreciation is going to kill me and I'll be screwed on the buyout. Please let me know what you think ASAP b/c I need to buy this car in the next couple days. Thanks.
That is a very good deal! Do not worry about the depreciation, even the older hondas are still selling quite high. Its a honda, and anyone looking for one, knows that. It may look the older models seem different, and less appealing, because its not the latest model, but its a honda. I would totally go for it. I was quoted $329 for the EX-L without navi, with first payment due. So that is good! I would go for it, because you will not be able to get an 08 with that kind of options for that price. Once the excitement goes down, pricing will settle down too on all models of accord. Sell your car privately once you done with it!
So far, the best price I've been able to find for the EX L 6 Sedan without NAV is 23,249. I'm in the S.F. Bay Area. The offer was from Concord Honda. Does anybody know of any other dealers who are competitive right now. So far, I'm about 850 bucks the best others have been able to do recently.
Depreciation Adjusted Cap Cost: $24,383.00 Residual: $15,677.20 Depreciation: $8,705.80
Cap Cost Cap Cost: $23,788.00 Accessories $0.00 F&I Products $0.00 Acquisition Fee: $595.00 Sales Tax: $0.00 Gross Cap Cost: $24,383.00 Cap Cost Reduction: $0.00 Adjusted Cap Cost: $24,383.00 Payment Monthly Rent: $20.03 Monthly Depreciation: $241.83 Base Payment: $261.86 Monthly Sales Tax: $22.26 First Payment: $284.12
Drive Off Cap Cost Reduction: $0.00 F&I Products: $0.00 Security Deposit: $0.00 CA Tire fee: $8.75 Doc Prep Fee: $55.00 CA County Fee: $10.00 2007 California New Vehicle Licensing Fee: $208.00 Sales Tax Paid Up Front: $4.68 First Payment: $284.12 Total Drive Off Amount: $570.54
Been looking in SF Bay area also. However, the best quote I have gotten so far has been from Universtity Honda in Davis. Walnut Creek Honda has been straightfoward so far also. However, they have have been a little higher.
Hi all, a lot of you state your money factor and residual, but not the length of the lease term (24 or 36 months). The numbers DO change depending on the length of the terms, correct?
So right now, what is the current money factor and residual for a 24 month lease. I am in Illinois if that makes a difference.
The lease i chose was for 2 years and 15000 miles a year totaling 30000 miles for both years. I am paying 323 a month for an ex-l 2007 honda accord. hope i didn't make the wrong decision. my first month and extra plate was 472 to begin. that's everything i had to come up with.
Hi: I just picked up my EX yesterday with $2500 total of pocket including tax, 1st payement, banks fees etc. monthly payment is $215.16 inclduing tax. I leased the EX with Paragon Honda Dealer in Queens on Northen Blvd. The sale Donald Lee is excellent. I got the car in invoice price and this is my 2nd Honda with them.
Can someone please help me. I live in los angeles, i have gone to irvine honda, Santa Monica Honda, and carson honda. I want to get a accord exl 4cyl with navigation, i have a credit score of 730, and want to put absolutely nothing out of my pocket, 24 month 12k a year.
Irvine Honda said they will give me a residual of 64% and .00065 money factor, msrp of car is $27995, over the phone they said they will give it to me for $24000, so i calculated it and lease payment should be $303 with nothing out of my pocket, when i got their today the gsm said he will give me car for $25000 with $600 out of pocket and $350 a month, im so sick of these dealers!
can someone please tell me what to do? i want this car for $24000 and i know some dealer in CA will give it to me for that price esp since its end of month, im also thinking of waiting till Sept 4th because new programs come out, and they should be better then the current ones since the new accord is like 4-6 weeks away, what are your opinions?
My lease was with a dealer here in southern New Hampshire. I got the 4 cyl. automatic Accord EX (cloth seats) trim level. The only thing I can say I am dissapointed about is that there is no outside temperature gauge in the car! Honda, please, I like to know the outside temperature when I drive! Anyway, the parameters of the deal were as follows:
No out of pocket expenses ie., zero money down “sign & drive” lease with mileage allowance of 12000 miles/year for 3 years. The dealer picks up the first monthly payment ($280), any security deposit was waived, the Honda acquisition fee was picked up by the dealer ($595 so they said), the normal $247 dealer prep fee for title, state inspection, 20 day registration, etc. was waived by the dealer. So my lone responsibility is 35 monthly payments of $280 each. If I want to buy the car at the end of the lease, it will cost me $13888 & there is no disposition fee. Time will tell, but this might be a good way to go because believe me when I tell you there are no 3 year old Honda Accord EXs in excellant condition selling for $13888 around these parts. The money factor worked out to .00065, which is as low a mf as I have ever paid for a leased vehicle. All in all, I am pretty satisfied with the deal & I’m glad I waited to pull the trigger.
I picked up the car on August 21st. The dealer was Peters of Nashua NH. It took almost a full week to get the car as they didn't have one in stock. They said the EX 4 cyl. was in short supply & the demand was still pretty high for that trim level. Peters is a fairly high volume dealer here in southern NH, selling 160 or so cars a month (or so I am told). I gave them my color preferences & they found me one at a dealer in another part of the state. It took nearly a week to get the car delivered as the sales managers of competing dealers don't like to give them up!
Thanks to all for the great info on this site. Does anyone know the current base rate and residual values for the 2007 Honda Accord EX-L (no nav, 4 cyl), through Honda Financial Services. TIA
The current 2007 accord lease money factors they have running are very low, but are only good until Sept 4th 2007, with the 2008 accord coming to dealers first week of October, it can only mean that the 2007 accord is going to have a MUCH better money factor on it.
Flashback to the time when the new Altima was coming out, a month before it, Nissan was giving out Altima leases for $99 a month with only $99 down!
So it only makes sense that the 2007 accords new money factors are going to get a lot better after Sept 4th, this is what my friend who's in finance told me over at Scott Robinson Honda.
SO I WOULD SUGGEST TO HOLD OUT ON ACCORD LEASES FOR NOW!
Hi wilkich84. According to my calculations, if you were to lease a 2007 Honda Accord EX 4-cylinder Sedan that has an MSRP of $23,945 and a selling price of $20,775 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $221.
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Hi providince. Let's work up a lease payment on the car that you're interested in and see what we come up with. According to my calculations, if you were to lease a 2007 Honda Accord EX-L 4-cyl. with navigation that has an MSRP of $27,645 and a selling price of $25,599 ($500 over invoice) through Honda Finance right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment would be around $331. The payment for an otherwise identical lease on an '07 Accord EX V6 with navigation that has an MSRP of $29,995 and a selling price of $27,722 ($500 over invoice) would be around $359. These payments assume that you qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing.
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Hi Danny. The reason why you keep seeing information about 24 and 36 month leases of the Accord is that Honda's special lease program on it is available for up to 36 months. It doesn't make sense to lease this car for longer than 36 months because if one does, its money factor will increase fivefold from .00050 to .00275.
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FYI - There appears to be a big difference in Accord lease pricing between East and West Coasts or more specifically, NY metro area and the rest of the country.
After much research and many negotiations I settled on a deal last night, $500 under invoice with a 57% residual and nothing out of pocket up front except DMV charge.
EX-L Graphite $305
Most of the quotes were relatively the same at around $311 - $315. Even a trusted lease broker in the NY area couldn't get below $312.
California appears to be better for negotiations and leasing an Accord.
Possibly a shorter supply in the NY area and an unwillingness or dealers to do locates.
Hello. I'm currently shopping for an '07 Accord coupe. What can I expect to pay for an '07 EX-L Coupe (no nav., no v6) with $0 down (cap cost) for around 36 months? Thanks!
HI , i so sorry , but I new user !!! I have Question: If i wont lease 2007 Accord Coupe EX-L V-6 6MT , on 24 mos. I am 25 years , my credit score 720 , i recive driver license 1 mos ago.Down paym 3000. PLEASE answer: HOW match approx. my mos. payment??
It certainly looks like you got a good deal on your new Accord, fabyan. Congratulations. Thanks for taking the time to share the details of your deal with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of this site to share your thoughts on your recent dealer experience. Enjoy your new ride!
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Hi floydsu77. You didn't necessarily hurt yourself by not negotiating your car's selling price, but doing so is the best way to make sure that you are getting a good deal on the vehicle that you want to lease. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing your car's selling price, it is difficult to tell how close to dealer invoice the price that you were told it for was and whether you could have gotten it for a little less. Don't worry though, as long as your payment is comparable to the ones that you have seen mentioned for similar cars in this discussion you did fine.
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Hey carseeker7. .00300 is a really high money factor. It is right in line with Honda Finance's current buy rate standard money factor for leases to consumers who qualify for its "Super Preferred" credit tier who choose to have their security deposit waived. This tells me that instead of using Honda's special money factor for this car the dealer that you are working with is probably trying to use its standard money factor so that it can take advantage of the $800 to $2,000 dealer cash that is currently available on the '07 Accord. Try having them use the special money factor to calculate your monthly payment instead of the dealer cash and see if that turns out any better.
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Hi bvdj84. The money factor that you were quoted for this car is way too high. Honda Finance's current buy rate for a 36 month lease of a 2007 Accord EX-L 4-cylinder Sedan is only .00065, assuming that you qualify for its top credit tier and pay a security deposit at lease signing. Make sure that the dealer that you are working with uses this factor to calculate your monthly payment.
All of the fees cloud the picture a little bit, so it is better to look at your car's selling price without them. The dealer invoice price for this car is just under $23,500. Shoot for a selling price that is as close to that as possible.
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Hi ipip316. You never mentioned the selling price of the Accord that you are interested in leasing. This is an important number 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 its selling price is.
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Hi gozu. Let me begin by saying that there is nothing wrong with trading in your current car when you lease your new one, but it would be in your best interest to have the dealer that you trade it in to cut you a check for any equity that you have in it rather than using the proceeds from it as a down payment for your lease. Consumers who make down payments on leased vehicles risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.
The best way to negotiate a good deal on the Accord that you want is to negotiate as low a selling price as possible on it and then have the dealer that gives you that price calculate your monthly payment using its buy rate lease money factor. It is difficult for me to give you a detailed analysis of this deal without knowing what this car's selling price is.
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Hi kunalt. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. The dealers that told you Honda sets the selling prices of leased vehicles were lying to you. I would be happy to give you my opinion of the deal that you signed if you tell me what its selling price was. For now I can work up a sample lease payment on a similar car that you can compare the lease that you signed to. According to my calculations, if you were to lease a 2007 Honda Accord LX 4-cylinder Coupe that has an MSRP of $21,870 and a selling price of $20,380 ($500 over invoice) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $254, assuming that you qualify for its top credit tier and pay a security deposit and Honda Finance's $595 acquisition fee at lease signing. If you were to roll the acquisition fee into the lease, the payment would increase to around $270 before tax.
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Comments
I would like to get that same quotation.
Thanks~
I was offered
24,359.16 for the final price with all fees included on an
EX-L. MSRP 25,945.00, which is good I think because the 25k would not include all fees. Closer to 27k when set and done.
Remember, dealers cannot use dealer cash incentives for leases, but for only purchasing to own, Lease incentives are in place, but multiple dealers have told me this, so it must be true.
Money factor:.00129 (IS THIS GOOD?)
Preferred Credit rate.
$340 Sign and Drive OR
$329 Pay at signing
Does this look good, they printed out everything for me, it does look like the are making $100 out off the deal.
Should I pay first payment, or keep the cash and pay the $340.
Also, I had a trade of a 2006 Accord SE, they paid that off completely! I simply want to move up in car, because I love this accord! 08's will be expensive!! So keep this awhile, and then trade back in about 2 years.
Let me know! I thinks its a good deal, and they have limited EX-L 4cyl accords now!
Deal or no deal, after all they didnt have to pay off my car in full, they could have rolled the negative of about 2k into the next deal!
This is the quote that i got from one NYC dealer, do you think it is ok?
Monthly payment: $199.00
Tax: 8.375% = 16.67
Total monthly payment: 215.67
Res. Value 56%
Money factor: 0.0065
total out of pocket including cap cost : 2562.50
dealer said $1500 is the down payment for cap cost reduction.
what u guys think? i also review some post re EX model has better program, is it true?
thank
I went to a dealership today and this is what Coral Springs Honda quoted me for 36 Months, 15K miles/yr:
Accord LX Sedan 4D 2007
Monthly payment: $270
Tax: 7%
Trade in: 88' Accord in good condition with 80K miles on it (KBB trade in value of $1370 or so)
I wanted $225 but they wouldn't give it to me.
Some of my info: My oldest credit card is 2 years old, my total credit card limit is $9200. My TransUnion score is 724 and my FICO is 683. Been working for 4 months. I graduate in less than 4 months. Never bought a new car before, no car payments either.
I thought their offer was ludicrous, any suggestions?
Do you know the exact time they start delivering it?
No dealers would negotiate, did I make a mistake, or is this already a good deal?
Just leased 07 Accord Coupe LX 4 Cyl
The National Lease Offer is 199, with 2399 down, not including taxes and MD mva charges.
I got it for $291 per month:
3 yrs, 15k miles a year
Absolutely NOTHING down, (Taxes, and the whole nine yards are included in the payment).
So basically I pay a total of 36 times $291 for this car, and that's it. (45000 miles total)
THERE WAS NO NEGOTIATION, since all the dealers said this is set by HONDA, so nothing to negotiate.
Did I miss anything?
No profit/Profit.
Thanks
DIRECT FROM THE HONDA WEBSITE-------------
FEATURED SPECIAL LEASE: Closed-end lease for 2007 Accord V6 Sedan EX Automatic Transmission (Model CM6657JNW) for $239.00 per month for 36 months with a $2,499.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $3,333.00 total due at lease signing (includes first month's payment, security deposit, AHFC upfront acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.
Subject to limited availability. Through 9/4/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2007 Accord V6 Sedan EX Automatic Transmission vehicles (Model CM6657JNW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $27,995.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $23,574.43. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $8,604.00. Option to purchase at lease end $15,677.20. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details.
So far, the quotes that I've gotten are oddly high. Across the board dealers are coming in about a grand over invoice for cap cost. Anyone getting anything near invoice or below invoice? I would think now that the 08s are here they would be hot to unload 07s.
Also, any idea on the inventories on manuals. Been thinking more about that rather than an auto.
Selling Price (Capital Cost) $25,000
Residual 54%
Moneyfactor .00050
Buyout at end of lease is $16,197
Monthly $315.00
With $592 due at signing
I think the price of the car is good but am concerned b/c it's the end of the model that the depreciation is going to kill me and I'll be screwed on the buyout. Please let me know what you think ASAP b/c I need to buy this car in the next couple days. Thanks.
That is a very good deal! Do not worry about the depreciation, even the older hondas are still selling quite high. Its a honda, and anyone looking for one, knows that. It may look the older models seem different, and less appealing, because its not the latest model, but its a honda. I would totally go for it. I was quoted $329 for the EX-L without navi, with first payment due. So that is good! I would go for it, because you will not be able to get an 08 with that kind of options for that price. Once the excitement goes down, pricing will settle down too on all models of accord. Sell your car privately once you done with it!
The money factor is .0005 on the V6..
Vehicle Information
Stock#: 58539
Year: 2007
Make: Honda
Model: Accord EXLV6 Sedan
VIN: 1HGCM66597A094196
Deal Information
MSRP: $27,995.00
Term: 36
Rate: 0.00050
Cash Down: $0.00
Trade Equity: $0.00
MFR Rebate: $0.00
Depreciation
Adjusted Cap Cost: $24,383.00
Residual: $15,677.20
Depreciation: $8,705.80
Cap Cost
Cap Cost: $23,788.00
Accessories $0.00
F&I Products $0.00
Acquisition Fee: $595.00
Sales Tax: $0.00
Gross Cap Cost: $24,383.00
Cap Cost Reduction: $0.00
Adjusted Cap Cost: $24,383.00
Payment
Monthly Rent: $20.03
Monthly Depreciation: $241.83
Base Payment: $261.86
Monthly Sales Tax: $22.26
First Payment: $284.12
Drive Off
Cap Cost Reduction: $0.00
F&I Products: $0.00
Security Deposit: $0.00
CA Tire fee: $8.75
Doc Prep Fee: $55.00
CA County Fee: $10.00
2007 California New Vehicle Licensing Fee: $208.00
Sales Tax Paid Up Front: $4.68
First Payment: $284.12
Total Drive Off Amount: $570.54
a lot of you state your money factor and residual, but not the length of the lease term (24 or 36 months). The numbers DO change depending on the length of the terms, correct?
So right now, what is the current money factor and residual for a 24 month lease. I am in Illinois if that makes a difference.
Thanks!
Brian
I'm new to this game so any help would be appreciated.
Looking to lease 36 mth with intent to buy given the .0005 money factor and I will only put 8K miles per year on this car.
What should I expect to pay up front and for lease as a benchmark?
Does this scenario make sense and what else do I need to consider?
Thanks in advance.
I just picked up my EX yesterday with $2500 total of pocket including tax, 1st payement, banks fees etc. monthly payment is $215.16 inclduing tax. I leased the EX with Paragon Honda Dealer in Queens on Northen Blvd. The sale Donald Lee is excellent. I got the car in invoice price and this is my 2nd Honda with them.
Irvine Honda said they will give me a residual of 64% and .00065 money factor, msrp of car is $27995, over the phone they said they will give it to me for $24000, so i calculated it and lease payment should be $303 with nothing out of my pocket, when i got their today the gsm said he will give me car for $25000 with $600 out of pocket and $350 a month, im so sick of these dealers!
can someone please tell me what to do? i want this car for $24000 and i know some dealer in CA will give it to me for that price esp since its end of month, im also thinking of waiting till Sept 4th because new programs come out, and they should be better then the current ones since the new accord is like 4-6 weeks away, what are your opinions?
No out of pocket expenses ie., zero money down “sign & drive” lease with mileage allowance of 12000 miles/year for 3 years. The dealer picks up the first monthly payment ($280), any security deposit was waived, the Honda acquisition fee was picked up by the dealer ($595 so they said), the normal $247 dealer prep fee for title, state inspection, 20 day registration, etc. was waived by the dealer. So my lone responsibility is 35 monthly payments of $280 each. If I want to buy the car at the end of the lease, it will cost me $13888 & there is no disposition fee. Time will tell, but this might be a good way to go because believe me when I tell you there are no 3 year old Honda Accord EXs in excellant condition selling for $13888 around these parts. The money factor worked out to .00065, which is as low a mf as I have ever paid for a leased vehicle. All in all, I am pretty satisfied with the deal & I’m glad I waited to pull the trigger.
EX lease - $285/mth all in - Zero down on 3yr 36K - MSRP $24,095 pur price $13,975
EX-L lease - $311/mth all in - Zero down on 3yr 36K - MSRP $25,795 pur price $14,703
TIA
http://automobiles.honda.com/
The current 2007 accord lease money factors they have running are very low, but are only good until Sept 4th 2007, with the 2008 accord coming to dealers first week of October, it can only mean that the 2007 accord is going to have a MUCH better money factor on it.
Flashback to the time when the new Altima was coming out, a month before it, Nissan was giving out Altima leases for $99 a month with only $99 down!
So it only makes sense that the 2007 accords new money factors are going to get a lot better after Sept 4th, this is what my friend who's in finance told me over at Scott Robinson Honda.
SO I WOULD SUGGEST TO HOLD OUT ON ACCORD LEASES FOR NOW!
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After much research and many negotiations I settled on a deal last night, $500 under invoice with a 57% residual and nothing out of pocket up front except DMV charge.
EX-L Graphite $305
Most of the quotes were relatively the same at around $311 - $315. Even a trusted lease broker in the NY area couldn't get below $312.
California appears to be better for negotiations and leasing an Accord.
Possibly a shorter supply in the NY area and an unwillingness or dealers to do locates.
Friend just leased a 4cy EX sedan (no leather).
24 mos
12k miles
1st payment + DMV fees
$275 a month including taxes
I have Question: If i wont lease 2007 Accord Coupe EX-L V-6 6MT , on 24 mos. I am 25 years , my credit score 720 , i recive driver license 1 mos ago.Down paym 3000.
PLEASE answer: HOW match approx. my mos. payment??
THANX!!!!!!!!!!!!!
Car_man
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All of the fees cloud the picture a little bit, so it is better to look at your car's selling price without them. The dealer invoice price for this car is just under $23,500. Shoot for a selling price that is as close to that as possible.
Car_man
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The best way to negotiate a good deal on the Accord that you want is to negotiate as low a selling price as possible on it and then have the dealer that gives you that price calculate your monthly payment using its buy rate lease money factor. It is difficult for me to give you a detailed analysis of this deal without knowing what this car's selling price is.
Car_man
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