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Comments
If you can get this at invoice the numbers will be the same.Also, navi hurts you residual value.Buy a good sized Garmin GPS with bluetooth, traffic and mp3 player.Its way better than Honda and costs about $500.
2008 Honda Accord 4 dr EX-L 4 Cylinder
$3000 down
48 month lease
12,000 miles a year
$309/month
As a reference the cars i considered: 15K/36 no money down
Acura TL no/nav $410
ACURA TL TYPE S $485
INFINITY G35 AWD Prem/Nav $385 but 39 months
But i saved money and now have 08 Accord EX-L V6 $359
I really wanted the infiniti but im sick of high payments, not to mention PREMIUM FUEL AND SO SO MPG
Even Honda knows this, the residual for a nav equipped car is usually a few points lower than the same trim line w/o nav. So the whole car is not worth less because it has nav, just the nav itself does not add much to the value of the car down the road.
The Honda nav system is a nice one, but like all of the OEM systems WAY over priced, expensive to update, and has maps that are likely pretty old when you buy the car.
Back when a nice Garmin was $600-1,000 paying $2k or something for an OEM nav was not bad, but now that you can get a Garmin for under $200 and update the maps each year (or every other year) for $75 paying $2k or even $1.5k for an OEM nav just makes no sense.
The current Honda nav update DVD price is $185 plus shipping and sales tax, or about that same price as a Garmin from Amazon - and this is just the map update.
Dennis
2000 total out of pocket (incl. fees and 1st mo. payment and dwn payment)
349 a mo.
12000k/yr
sweet deal, i would've done it on sat. if they offered to me. :shades:
NJ dealership DCH kay honda, ask for the internet manager, great guy he's a former marine!!
Good job on yours.
I found a 2007 Accord Coupe LX at a dealership and am consider buying. The MSRP is $21,910, Invoice is $19,920. The sales person offered to sell it for $17,500. I know its $2,400 under invoice but is this really a good deal since its a 2007 model? Should I be able to get even a better price on it?
Thanks in advance for any thoughts or suggestions!
I was offered $26,000 on an EX-L 4cyl, Navi. But my payment was still $420 for 36mth, 12k, $0 down. That is still a little high, but I am not sure they used my offer price,
I was thinking I should be at or around $360 a month, I should be at $340 for a basic EX-L No navi. $0 down leases. I am getting the price I want, but the payment seems a bit confusing, but with possible rate changes in Feb, it might be better. But, even then, I am not sure I am ready to buy.
500 down
42 months
12000 miles
414 a month ex-L 4 cyl, this includes taxes,
navigation,remote starter,wheel locks,14 free oil changes. buy back 16,004, and a hot secy phone number to boot..
You should be at around $360-$375 for a an EX-L 4cyl Navi.This payment is with $0 down! With the earlier posts about the lease deals being bad due to rates, that would've helped determine when to buy. Now, really isn't the time. Also, just to let you know, that your payment should be a even lower as well, since you took a 42mth lease rather than a 36mth lease, So I think the deal is fair, nothing more than that, its not close to being hot. But, I have seen alot worse, and this deal is better than most at this time, but it is still quite steep. I am sorry to burst your bubble..lol. Its one sweet ride though. I am just being honest.
I think 1 one your main issues with the deal, it seems as though they tacked on alot of accessories and extras. They did get quite a bit of commission from this deal.
What was your negotiated SALE price? I was offered $26,000, which I think I can do slightly better, but $26,000 is pretty good, considering the car is $28k MSRP
Dennis
2008 Honda Accord Ex-L 4 cyl auto, no nav
sales price 24,000 (dealer invoice on edmunds is 24062)
tax 6% md res 1,444
tags etc about 325 (should be 215 for tags)
sales price 25,769
lease the above car: 36 months at 15,000 m/yr total 45,000 mi
3000 drive off (1rst month pay, taxes tags all other fees)
329 a month for the additional 35 payments
residual value 15897 (supposedly 60 percent) - note: I do not want to buy at end of lease
$.10 per mile over 45,000
money factor varies but as low at .00255
How can I tell if this is good deal? If not, what do you suggest to help lower price? Please advise and thank you.
What in the world was that $3,000 for? That is alot, Try lowering the amount down, and you'll see a more realistic deal. Tell them, you should be able to put less down and stay near that payment.
Realistically you should be at or around $350 for what you want, with $0 down,
but lease rates aren't really attractive, so that will not be seen, so around $360 or so, then put a little down to lower it. But not $3,000
Thank you very much for responding. The $3000 drive off was supposed to be first month pay, taxes, tags, all fees, and lowering the monthly from this point out. However the total cost of this at $3000 plus $329 x 35 = 11515 = $14515. In your opinion, what total cost ballpark for this car should we be shooting for? If we got the drive off cost to $2000 with payments of $349 it would be total $14215. At zero down 36x350 would be $12,600; is a lease that low on this car feasible? We do not intend to keep the car after three years under any circumstances. We truly appreciate your help and expertise. Also, why would the deals say the residual on the car is 15897 when the edmunds automatically inserted residual on calculators is much less? - thank you!
It must cost something to drive the car off the lot but we don't understand how to address that very well obviously. (on this vehicle if sold taxes would equal $1444) True price of tags is $215. First month payment would be $350 or so. We know those prices would be normal to expect. Paying $1000 down and getting a lease deal of $360 per month after that would be total for 3 years at 45,000 miles of $13,600 total payments; much superior to what we've gotten so far. Is such a deal possible? can anyone advise? Thanks for all this help - it is really appreciated.
Figure on getting most Accords at or just under invoice including dealer fee, then plug that into a lease calculator with the current MF and residual for the lease term you want (ask a couple of dealers for these figures). Add in your state's taxes, and "presto" you will no what is a good deal for you in your state. Once you have the numbers in a lease calc you can play "what if" you roll the $595 bank fee into the lease rather than pay it at signing, pay nothing at signing, pay a lot at signing, etc. Once you have the rate, residual, and your selling price the other numbers are what they are.
Dennis
Captive lease banks (ones owned by the car maker) often have bloated residuals to make the payments lower for their lease customers. 3rd party lease banks usually use ALG residuals which can be a bit lower or a good bit lower than the captive bank uses. Even if they charge a higher rate, which Honda is doing now, the higher residual usually nets a lower payment for the customer. The only issue is if you wanted to buy the Accord at lease end, then the 60% residual will cost you more at that time - but you saved a bit on your payment each month.
Dennis
ACURA TL
$399.00 36 MONTHS 15K
JUST TAX, 1ST AND MV FEE
THE MONEY FACTOR IS 0045 WHICH TRANSLATES TO 1%
OR WAIT FOR A BETTER MONEY FACTOR ON ACCORD, THIS CAN SAVE YOU 15 TO 20 A MONTH. ACCORDS MONEY FACTOR TRANSLATES TO 6.12% (NOT GOOD) AND THATS A PROBLEM EVEN IF YOU PAY INVOICE.
We all know that the rates are strict on the 08 Accord, I am only saying that you can do much better on your lease, and it is time and research that really pays off, with me doing all this research on here, and working with dealers, than I am more likely to get a better deal, than a simple walk-in, and doing a deal then. I will be able to print off all my documents, and get what I want. I really want the navigation on my Ex-l, but is it worth $40 more on my lease? I am not sure....
But even good prices, but bad rates will make the deal overall sour!!
Getting a new car is like pulling your hair out!!
"Working" the dealer is not going to gain much if you are already at or under invoice for the car, destination, and dealer fee (if any). Just call them every month and get the new lease rates and once they drop them, go lease your Accord. The rates are from AHFC and dealer has no control over them, other than they COULD mark the rate up a bit if they wanted to.
Dennis
Anyway, I think I got a decent deal. I bought a 2008 Honda Accord Sedan EX-L with 15K for three years. Not a penny down, not even the first months payment. I will pay $346/mo-$371 with tax per month. I loved the fact that I walked out without giving them anything and don't have to pay until next month.
It is a nice car and I am enjoying it. It is much roomier than my 3005 EX-L. (I did question my deal, but now seem to think that I got a pretty good one)
Narrowed choice of next car to either Accord LX or Mazda 6i Value Edition. Wife would prefer Honda based on long-term bias - says back of 6 reminds her of a Cavalier?? :confuse:
Anyway, I see where there are current Honda lease offers of 239 a month for 36 months before TTL, but with 2599 down. Having perused numerous posts where you've responded to other offers, it seems like I should be able to get the LX in the 300 a month range with 0 down. So I'm wondering, what should I look for payment wise for the following vehicle, leasing through Honda (we've done last two Odyssey vans with them, so I'm hoping we'll get a good deal)
MSRP $21795
Invoice: $19816 (think of offering $20000)
Florida Tax 6%
Tag and Registration $200
I have a 1996 Chevy Beretta with right at 90,000 miles on it that's in good shape that I think I should get at least $1000 for on a trade, plus an additional $500 or so in cash to help with first-month payment, acquisition fee, ect.
Thanks in advance,
Steve
Panama City, FL
2008 Accord Coupe EX-L V-6 no nav
MSRP: $28,945
LEV Rt/Amt: 60% residual...$17,367
mileage window: blank...verbally stated includes 12k annual miles
Initial Cap Cost: $27,402
Acq Fee/Sec Etch: $595
Cash down: $3,700 .....seems high compared to other posted amounts??
Total Cap Reduction: $3,098
FG: $700.....what is this?
Money Factor: 0.00265....they started at 0.0035....is this good now?
Term: 36 mo
Sales Tax Window: $1,081...what is this?
Base Monthly Rental: $321.21
Monthly use Tax: 7.375% $23.69
Monthly payment: $344.90
Security Deposit: blank
License: blank
Title/drive off: $28.25
Working Cash Prmpt: $3,700....again, isn't this high?
Drive Off: $3,700
Adjusted Cap Cost: $24,898.65
$.15/mile excess miles
2008 Ridgeline RTX
Only info I was given was $2,900 down, $279 month plus about $18/mo tax for 36 months--lease payment of about $297. I requested paper quote with MSRP, etc. and was told the deal was at the Honda website. Well, there it states $1,999 down and $279 month lease payment for 36 months. This means the dealer gets an extra $1,000 up front.
I am in Reno, Nev. I'd like to do business with local dealer--my current '05 BMW is leased from them--but loyalty ends if larger Las Vegas, Sacramento & San Francisco Honda dealers can beat what's offered here. What is your advice on how I proceed from here for negotiating for both vehicles?
Thank you in advance.
My wife wants a SUV. I looked for a speciallease and found a great one. Mazda CX-7 1000 cash back Money factor of 0012 (less than 1%) Plus has a good residual. This all adds up to a low monthly payment. BE SMART!!!
Love it! I am certainly not going to let that though get in the way of the reality of the deal. Doing a deal right now is pretty dry, there is not much to work with, and reflects in the payment. Honda, better step it up, because there are other competitors that are really getting their game on! They will lose consumers, and even the most loyal consumers will rethink about getting a Honda with these rates. People are looking for the best bang for the buck!
Good Points!!
tax, 1st, bank fee, mv fee Upfront
Whats your tax rate.? Do you want to pay these upfront?
They have 0.00014 (0.34%) leases along with $1,000 in dealer money on a lease, and - get this - $3,500 in dealer money if you purchase the Pilot.
A very, very good time to lease or buy a Honda Pilot - for sure.
Dennis
check out acura before you lease an accord
although I had no intention on keeping the car out that long, I accidentally when the wrong direction on the interstate and had taken me and the salesmen out about 12miles without an exit! I appologized, and he was fine with it, but I still felt like I was just purposely out driving. BUT, It did help, and convinced me that the 08 Accord will be my next car! It is truly amazing, road handling is great, you can tell it has a bigger stance within the wheels and steering, but it doesn't feel as big as it looks, which is good! Love the interior, I test drove the 4cyl, navi model, and I am okay without getting the navi on this car, I really do not NEED it, and it is alot of money on a lease. I was very impressed with it! Altough there are slightly different points in the engine, I tried to pass and I pushed down and it didn't kick the engine in to get'r movin. Now in my 06, 4cyl, really rolls down the high way when you work the engine, and has no trouble. It didn't seem as torquey as my 06 accord, but my engine is completely broken in, the 08 was not, 3,000miles is still like new. so that probably didn't help. It still feels the same though as my 06 engine. Which the 08 is just modified. My 06 Continues to impress me everyday. I love it.
I test drove the Jetta before getting in the Accord, and although I loved the Jetta,
I really liked the size and feel of the Accord, but maybe because I already love the way a Honda feels.
I did feel kinda like an idiot for taking the car out that long, but the sales guy was great, and understood, and really didn't mind. Thankfully this car was already broken in with 3,400 miles on it.
I will be trading for an 08 Accord this Spring, when the weather is warm, with the sunroof open! When deals are better as well!
Again, thank you - by urging us to get a lower price on a lease, we ended up getting a respectable price when we bought. Keep up the great work!
With $2,000 down at signing, I am able to lease the following (either one)
Standard lease, 36mth, 12k a year- Also dealer stated $200 below invoice!
EX-L 4cyl, Navigation $324.97
EX-L 4cyl, no navi $282.03
Now, I know, that I should not put so much down, but want to really work the payment to where I want it, plus, I am thinking that once the lease it done, I will go ahead and opt to own it, so I might as well get the things on it that I want. Although getting the EX-L without navigation looks quite attractive. I do, however, know that the $2,000 does not go to the actual cost of the car, rather toward the lease. But, it totally helps with the payment, and that payment is what you have to live with for months on end, and that is what matter to me.
Please let me know what you think?
Thank You!!