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HOWEVER..
Since you are interested in a Pilot, I highly recommend the 2008 Pilot due to incredible lease and financing opportunity. Visit the Leasing board and the Prices paid board. Decide when you want to make a move. Time is on your side, but if you want a certain color they will likely be gone by July. Unless you actually like Silver, there will always be plenty of those. Also It is likely the lease deals will dry up once the 2009s become available because the residual values will drop. So you might want to make a move soon.
Edmunds used car appraiser makes your car seem trade-able but no car dealers would use those prices..They all use Galves. And Galves probs says your car is worth 15000. It will be very difficult if not impossible to get a great trade deal on that car AND an invoice or lower deal on the new vehicle. It would be better to either keep the car till its done, or try to sell it on your own for more than the buyout. Just run it on ebay with a reasonable reserve and see what happens.
Also check out Swap-a-lease. Your payments are low enough and there are lots of miles left so it makes an attractive re-lease..
Bottom line is in your situation, it would be easier to separate the Accord from the new car. Either pay off or sell or drive the Accord till its done or close enough to just pay the balance and turn it in.
I just leased a 2008 Pilot AWD EX-L/Nav..Dark Cherry . Pre tax payment is 402. Sticker was 36280..sold to me for 31155. If buying instead of leasing you could go ~2500 lower.... 2009s loaded up will sell at full Sticker for a while it will be difficult to lease no money down for less than 550 a month. Sticker will probably be over 38000.
Go to the Pilot leasing and buy boards, lots of great deals and advice.
Good Luck!
I leased a 2005 Honda Accord Coupe EX-V6 with the navigation system in July of 2005. My lease is currently $358/mo. for 36mo/36k (now 37,200k due to the odometer stipend) and I put $5k down (I'm now aware that was foolish). I'm not sure if that's a good deal, but it was my first new car. My lease ends July 25, 2008 and I currently have 24,000k on the car and its in perfect condition. My current payoff is $17,584.91 and I have 6 more payments left (@ $358).
In December of 2007, I went into Honda of Lisle, IL to get some touch up paint and decided to test drive the 2008 Accord Coupe EX-V6 w/navi. Wasn't a big fan, but let the salesperson do his spiel and discussed pricing and monthly payments. They were telling me it would be around $600/month for 36/36 for car if I leased it. I wasn't in there to buy, so I just listened and told the salesperson the monthly's were ridiculous and I would opt for another vehicle instead if that were the case. They also appraised my car and said they'd give me $15,800 for it, which seemed ridiculous because the car is in excellent condition and only had 23k miles on it at the time.
Due to having a child, I'm intrigued by the new 2009 Honda Pilot coming out and would be interested in leasing it when its available. My question's are:
1. Would I be better off waiting until my lease end to turn in the car or trading it in when the new Pilot is available?
2. Would I get caught in the "game" of the Pilot being new and the dealership being non-flexible in MSRP pricing?
3. Would I better off terminating the lease at lease-end and exploring other types of vehicles? Does the manufacturer become more difficult if they know you are leaving them and not purchasing a new car with them?
4. If the 2009 Pilot (EX-4WD with navi) is around $34k-$37k, what would/should be a good monthly payment for 36mo./36k miles with only the first month payment for a down payment?
5. What is my negotiating room with ending the lease/trading the car in and purchasing a new car with dealership (i.e. do the odds swing in my favour?)
6. The salesman said I save on taxes if I lease again with them. It was about $1800 worth of an incentive. Is that true and what does that mean?
7. If the lease payments are high for the Pilot, would I be better of looking an Acura MDX, Tahoe, or BMW x3 at the same or slightly higher payment model?
I apologize for the long post, but just looking at some insight from the people on the forums as to what my next move should be in terms of leasing. My drive to work is only 3miles (to/from) each day, so leasing is pretty intriguing per my case. As an FYI, I also live in IL so also wondering about the tax issues.
does Honda offer financing options for the end of a lease term? i was thinking of financing my car that is at the end of it's lease. can we get a good rate for this? anyone know of anything?
Thanks!
Thanks so much for your advice. Since I'm in no real hurry, I think I'll just wait until the lease ends and then make a decision. I'm not a big fan of the earlier Pilot's, but did see the 2009's and thought they looked more appealing. When I test drove the 08 Accord and briefly discussed pricing, the salesperson mentioned that they were not very open to negotiating due to the supply/demand and the new model. I'm sure that was just him saying that, but I'm hoping that with the new 2009 Pilot it doesnt happen based on timing of my lease ending.
For $550 a month, I'm wondering if an Acura MDX or Tahoe would be a better value. Does Acura have the same financing company as Honda and would it be the same as dealing with Honda if I leased a new Acura (in terms of negotiation on ending and starting a new lease)? I'm just worried that if I end my lease and go to another manufacturer/dealer, the lease end process would be more difficult...
Thanks so much!
You should still look at the Pilot deals. I also was not very fond of the 2008 Pilot especially as it compares to the competition. Hell its Top of the line and doesnt even have a power passenger seat, auto headlights, electrochromatic mirrors, power seat memoy and ingress egresss, power pedals, the list of missing features goes on! (all things my 2005 Pathifnder LE has, btw). BUT it is one sweet truck at the current prices drives very comparably to the MDX and has more headroom than my Pathfinder. The Voice Commands are awesome! More importantly the wife LOVES it and its her car. And its a lease anyway so 3 years comes around quick.
Just noticed that the Accord Coupe doesnt offer power passenger seat either? The Maxima I just turned in had power tilt and telescope, power folding mirrors, HEATED steering wheel. lol.....Lots of little things the reviewers seem to miss with these vehicles... A comparable Nissan Altima is loaded with features you would need to step up to an Acura to match..And the NIssan Nav has that cool birds eye 3d view!...
Still, the Accord V6 coupe is pretty sweet. I am considering picking one up once the prices ease up. Only 3 payments left on the Pathfinder.......
Good Luck, Great points, we all have our experiences that persuade us in future decisions.
I totally agree with your point about 2008 Pilot and the incentives, however, I'm just not a big fan of the past model. I know its a great vehicle, but I think I'd rather have the newer model. I'm just worried that I'll still be negotiating on cars and be without one after I turn mine in.
As for the Accord Coupe, its a great car and impressively quick and I love it. Test drove the new 08 coupe and really didnt care for it. The console and dash seemed to be buried in the front of the car and felt like you were looking down a cave to see it. I also didn't notice any difference with the 30+ horsepower in the 08 compared to my 05 and the VCM light (ECO) seemed to flash almost constantly which was a tad annoying considering I think the car gets good gas mileage anyways. You're right about the non-power passenger seat, but in my opinion, its better without it. Its easier/quicker to get people in and out of and I rarely (if ever) have people get in the back from the driver side since the power seat is so slow.
In either case, I think I'll start hitting showrooms (Acura, Chevy, & Honda) in May or so to evaluate my options. Would love to get another 2 door, but with a new child, it would be the cause of a bad back
-2008 Accord Coupe EX-L V6 w/o NAV
-Sticker $28950
-I dont have the buyers order with me, but I negotiated it for $200 under invoice.
-Winter floor mats included
-Dimming Mirror installed included
-15k mile/year lease
-42 months
-$2500 Down
-$355 /month
-Tax, first months payment, Motor Vehicles fees, etc..all included.
I thought it was pretty decent, and I'm saving money coming out of the MB. Thanks in advance for all comments.
Especially when I got a quotes for an EX-L 4cyl Navi sedan for $324 a month with 2k down.That model I got for $200 under invoice, I chose to wait to lease.
Good Luck!
Enjoy!
It does not make sense, it is still a little high, and I have all the emails to show that I have the quotes directly from 2 dealers. I didn't even have to play them against each other. They both just gave me quotes.
What was your sale price? I was given $200 under invoice.
Also, based by all the posts, not a good time to lease an accord. If you want a deal, you got to work at it. but, there is not much you can do with the lease rates.
I was offered $288 without navigation, EX-L 4cyl. with 2k down.
I have all the emails that have the quotes. I had been working with them closely.
This offer seems closer to that 6cyl navi.
EX-L 4cyl navi is $25851
EXL 4cyl No Nav $23863.
So perhaps with a lower sale price, you can achieve what I got on a lease quote, but even with that being fairly attractive, it will not be long before we can do even better with supported leases.
I got 2 quotes from 2 different dealers, and they both were extremely similar in prices. It can be done.
This quote is from a dealership in Indiana
Go to honda.com and request quote from the nearby dealers, and then start emailing back and forth, it really does pay off. If you are honestly ready to lease, then tell them, I am ready, and I want invoice, and LEAVE OUT that you are going to put any money down, do a $0 down at first, and then, throw in the money down, it seems work better, and you'll get better bang for your money down! Always do a 36mth lease! Keep it very simple, and be prepared for some not to reply, and some dealers are not from planet earth!
Also, Ask for the sale price, along with the full lease quote, and a payment including tax. If you use the approach that you are ready and serious, most dealers will jump all over that. I would type in the comment line, you are ready!
Hope this all helps! But do realize that this is not the best of the Accord lease, and at some point it will get better, but you'll do fine though. It is one beautiful car!
I am currently waiting a bit longer.
36 months lease and 12K miles/year for $229
$4189 at signing (includes Texas sales taxes + 1st month payment).
(national offer as in http://automobiles.honda.com/current-offers.aspx)
Is the payment amount good?
If not, what other competitors should I consider?
Read through all the past posts..
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I have a 2001 Honda civic and I am interested in selling my old car and leasing a Accord. I am wondering were I should begin to gather basic information about leasing to decide if it is the best for me.
I like the tax deductions but I have always been warned about leasing.
where could I find the basics to learn if this is right for me?
2008 Accord EX Coupe in Nighthawk Black Pearl
42 month lease (I know that people have been saying thats not the best idea due to warranty reasons, but I'm not really concerned, this is my third Honda and I dont think I will have a problem in the final 6 months, plus I can always give it back a tiny bit early. Also, my dealer said that with the rates and everything right now, it really is the best option for the Accord coupes)
I am putting down $1250 for all taxes and fees and whatnot.
The dealer is putting down a cap cost of $1250 for me because they are buying my current Honda from the end of the lease and since they will definately make a profit from it, they are willing to do this. (My boyfriend works in the service department of this dealership, so I think that helped a bit with this part.)
Payments were originally worked out to $275 a month, but even though my credit score is a 765 I dont have "enough" credit as I only have 3 items on my credit report and not the required 4 items to qualify me for the Super Preferred Tier. (Don't even get me started on this, I was (and still am) pretty pissed lolol)
But anyway, now my payments are $286 a month.
Oh and the price of the car was worked out to 22,500.
I felt pretty good about it, and I'm sure I would have been fine with it, but now that they are having trouble locating one for me, my mind is kind of racing and I am starting to wonder if for what I am paying I should actually be getting an EX-L.
I'd just like some opinions to help ease the mind racing...or maybe it will add to it. Who knows. lol Thanks all!!
Just calm down, and do about it all realistically, after all this deal you have to live with for months, Also, I think you can do all of this above on a 36mth lease. That is what my quotes were.If you were to keep the 42, perhaps the payment could go down a bit, but it depends of the lease deals.
Do yourself a favor and get other email quotes, and tell them you would like to have an EX-L for around this payment with the money down of course. You could get one for a little or around $300 a month, and not much more than the EX.
I know how you feel, you get all excited! But remember don't ever take the first deal, without any investigation. Always push for the best! The dealers don't have to like ya, you just gotta like the deal!
Good Luck, and let us know.
The black in amazing!!!
And, whatever you do, stay away from 42 month leases. Anyone in the car business would tell you that. Those are a ripoff.
Many others have better deals, were talking $30k cars for the payments of a much lower cost car.
More bang for the buck! The accord is not that right now, as far numbers. Don't rule out the Acura!
However, the TL will have higher costs of regular scheduled maintenance, higher insurance, lower gas mileage using more expensive premium gas, much more expensive and short treadlife tires than are more likely to need replacing before the end of the lease and a tight rear seat.
I wonder if leasing a TL will be worth it for those wanting to save money? Replacing the 4 performance tires on a TL may kill any savings vs leasing a loaded Accord before you even think about additional insurance, maintenance and gas costs.
The TSX may have many of these same issues vs leasing an Accord
And, if you drive a new Accord V6, and an Acura TL back to back, you'll see a big difference. I really prefer the look of the new Accord over the TL. And, I had my mind set on the Accord EXLV6 Coupe. But, since Acura had such competitive lease rates, I thought I'd take a look. Here in Omaha, the Acura and Honda dealers are right next door to each other. So, a friend and I test drove the Accord and TL back to back. And, as much as I really wanted the Accord, the interior fit and finish, and overall feel of the Acura was MUCH better IMHO. My friend agreed. And, one thing that bothered both of us was that the Accord EXLV6 coupe did not come with a auto-dimming mirror standard. One would think at that level, it would be a standard feature. Anyway, after driving both, it was a no brainer. I wish the Accord would have felt the same and had better lease rates, as I had my heart set on that new coupe. The exterior styling of that car can't be beat. But, at the end of the day, the TL is more car, and I was able to lease it for less than an Accord would have costed me.
If you buy an Accord sedan without nav at around invoice or less, you will most likely be able to trade it in in less than 24 months for more than the loan payoff.
I've done this before and it cost less than the 24 month lease deals that were available at the time. Seems like that's true today also.
You can also feel free to put as much money as you want down to lower the payments on a loan because you will actually be saving money with the down on a purchase as opposed to wasting/risking money with the cap reduction on a lease.
You will also save the money you would have spent on lease acquisition and disposition fees and can put that money towards a down payment that will save a little interest and make it that much quicker to reach the point where the payoff is below trade-in value.
Extra cost for very expensive replacement tires, higher maintenance cost, higher gas expenses and higher insurance costs will add up fast on the Acuras.
I know the TL doesn't use that much more gas than a V6 Accord, but most people shopping for Accords are shopping the 4 cylinder.
I don't think the Acura TL or even TSX total cost of a 3 year lease, plus extra expenses in premium gas, lower fuel economy, higher insurance, higher maintenance costs and replacing expensive tires that will not make it through a 15k/yr lease and might not meet minimum standards at lease return even on a 12k/yr lease will save money vs leasing a 4 cylinder EXL automatic.
The stock tires on an Accord should easily go past 45K miles without failing the wear and tear inspection when returned and, if they don't, they will be cheap to replace.
Maybe it will work out for people on 10,000 mile per year leases since they'll only drive 30K miles in 3 years and the extra cost of gas, tires and maintenance will not be much of an issue at that low mileage.
There will be much more to the cost of leasing an Acura than just the monthly lease payment.
It may be worth more money to you for the prestige of driving a more upscale brand, but you will not be saving money.
The TL will run you more monthly and the costs will be higher, but most people who are considering a TL will probably be the ones that are shopping for a V6 Accord anyway, so their payments will be higher in that regard as well.
Just my 2 cents.
The TSX tires are very low profile at 45-50 series.
They Accord is using 60-series (which used to be considered low profile years ago).
What if you drive 45,000 miles in 3 years? Do you think a leased TSX total cost of ownership will still be less than a leased Accord EX-L?
At that mileage, you may also be looking at replacing a few other non-maintenance/non-warranty wear items such as front brake pads and the battery before you return the vehicle.
also, i am tryign to hold out as long as possible, anyone know if rates are dropping in april? i would hate to wait until july...
Of course the dollar amount of the residual will be less, because the MSRP for the manual transmission is lower..
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The Accord EX Sedan uses 225/50-17 and their price ranges from $98-$292.
The Accord LX Sedan uses 215/60-16 and their price ranges from $71-$171.
As you can see the prices all fall under the same range, with the exception of the EX sedan. That one actually costs more than the TSX. I'm sorry to tell you this, but your assumption about TSX tires costing more is incorrect.
Replace the battery at 45k miles? You're not serious are you? Brakes yes. But that will still be far less than the 2500 down payment people are putting up front. Under 50k miles, there isn't going to be any major expenses that will exceed that difference between the driveoff spent on a TSX and an Accord.
Another point. The TSX has a 4yr/50k mile warranty, so its covered. The Accord on the other hand, carries a 3yr/36k mile warranty which is shorter than a TSX. Which means, if you get a 15k/yr lease, u'll be out of warranty on the Accord, but not so on the TSX.
I've leased 4 vehicles the past decade now and I'm shopping for my 5th lease aright now. One thing i've learned about leasing is this...You NEVER put down a big down payment. EVER. You're renting, so the less you put down, the better. If you can't make the payments, find a different car that has better MF and residual. Otherwise, buy the car.
In terms of insurance for the TSX, I pay $995 a YEAR with a multicar policy discount. Not exactly expensive if u ask me.
Are those $89 tires going to meet acceptable specs/ratings when the car is inspected at the lease return?
You can nit pick about the tires all you want but at the end of the day, you're looking at maybe 400 dollars more in "tire costs" (and thats according to your exaggerated numbers). Now how much are you putting down for a down payment for an Accord again to get similar monthly payments as a TSX? I suggest doing the math before you continue arguing with me about this.
Though, now I have to be just smart about picking the car that can use that money the best, and get the most car! I have my mind set on the Accord, but the TSX, and VW jetta have me looking too!
It does not mean you cannot get that car, it simply means you will have to work some on your end to make it work, you get more car for the money with leasing! OR putting some down, within reason, to get it. I think it is all the more better!
With Spring coming, I am getting excited about getting new lease!
Does anyone know if the lease rates have changed for the month of March?
I need to go and test drive a TSX!
I have a friend who actually purchased an Altima Coupe, loaded, 1 week alter, its totalled. He put down 8k...insurance is only giving him back about 6k. Leases are even worse, whatever you put down is gone, and assuming you have gap coverage, you will not be responsible for the remainder of your lease...if you don't, good luck.
I just recommend looking around for other leases that offer good lease support when u plan on leasing. Don't fall in love with one car and one car only...look around.
Hope you get a good deal this spring!