By accessing this website, you acknowledge that Edmunds and its third party business partners may use cookies, pixels, and similar technologies to collect information about you and your interactions with the website as described in our
Privacy Statement, and you agree that your use of the website is subject to our
Visitor Agreement.
Comments
What color you getting.... Get the RED!
any chance you know the invoice on this car?
I think you got a great deal on a coupe, and you got more miles.
My problem already, is that I am over my mileage, like 3 months, or 3,000 miles or so, and its not under a Honda lease, but wish to eventually get the new Accord. Hopefully they will let me out early if they know I am over and move to an Accord. I am on a 12k, I am over for the year, and drive about 1k a month. I am not worried, but at some point I will need to think about doing something, because there is a point in a lease that you are in a better position to trade with minimal problems. I've done it before though. I have been taking my leased car on Vacations, so it will be over mileage, but I won't keep it for the full lease.
I was quoted via internet the following price/terms on a lease of an Accord EX-L 6-cyl coupe from a LI, NY Honda dealer:
Buy Price: $26,862
OTD: $484.46
Term: 39 months, 10K mi/yr
Monthly: $416.96
Seems like a good deal - opinions?
The dealership is not that local to me - about a 30 minute drive. I am hoping that they are not using the usual BS tactics to get me to drive over there and then they don't have the car I want, or "made a mistake" on the lease quote.
Have them do a "standard" lease, 10kmiles, 36mths, not 39 or 48, unless that changes the payment for the better, but usually its not always that way. You don't want to commit any longer than a 36 on a lease though, unless that truly does not bother you. I feel as a consumer should benefit 50% from the deal, and the dealer get 50% part of the deal, not them getting more, and the customer getting less.
This deal seems like its working a bit more to their advantage. If your serious, then push, you'll get what you want within reason.
I would push harder on the deal, and look up the invoice price, try email a few other dealer in the area, and see what they say, doesn't mean you have to drive all the way there, you can just present them with the better deal. It just seems its a bit high when you can get an other model $30k car for about that payment.
Good Luck
MSRP: $24,530
Negotiated price: $21,545
MF: .00186
Residual: 58%
15,000 miles per year
and I'm not planning on putting any down payment. Thanks in advance.
Follow-up: Got the car with the deal above, except I didn't have to pay anything out of pocket, and the payment was $359/mo. I think I forgot where I was in the negotiation when I agreed to the deal 2 days ago. I had to wait because they were out of 08 EX-L V6's and had to find one. I wanted the 08 since the rates were better than the 09's. I am very, very happy!
To answer where I got it - East Coast Honda, SC.
BTW - the car is awesome!! :shades:
Good job on your deal!
Monthly Payment: $425
This particular dealer uses 2 other banks ( one was Hann Financial Services) which actually would have had a lower payment, but had no excess wear allowance at all, and pretty much stated in the lease terms that the car would be returned in the same condition it was delivered in or incur charges. There was also a $450 disposition fee with the bank leases. I am inclined to go with the Honda America lease, as it has much friendlier end of lease terms.
Does this look like a good deal?
2008 Honda Accord EX
MSRP: 24,495
Negotiated Price: 21,400
Acquisition Fee: $595
Total Cost: 21,995
Residual: 58%
MF: .00186
Drive off: $612 includes License, first month, tire fee, and doc fees.
Monthly payment $306.00
15,000 miles per year
Got them to throw in wheel locks, splash guards, and trunk tray before I told the salesman I was leasing. I used the carbuyingtips.com lease worksheet and took my laptop into the dealer to use the worksheet as he was getting the payment out. At first, we he overshot the price I had by $20 and when I pointed it out to him, he went to his manager and was told that the price included a spoiler that was going to be put on the car. I told him we didn't want the spoiler and the payment was adjusted. My calculation actually shot it over by .79 cents. Got it from Norm Reeves Honda in Cerritos. :shades:
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Honda Finance's lease program for the Accord varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Accord Sedan EX-L 4-cylinder without navigation with 15,000 miles per year are .00186 and 57%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
The numbers for an otherwise identical lease of an '08 Accord EX-L V6 Sedan without nav are .00129 and 56%.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
I am looking for the MF and Residuals on a 2008 Honda Accord EX Sedan V-6 with 12k miles a year. Thanks for the help!
I'm looking at a EX-L V-6 with nav right now, and all 3 different dealers keep playing the numbers game.
What is a reasonable expected payment with the least out of pocket for a 36 month and 15K a year lease?
Thanks.
26,734.02 - 501.62 capitalized cost reduction ( which they are claiming is the bank fee that I have to pay out of pocket
26232.40 - adjusted capital cost
16,643.10 - residual
365.84 payment
23.78 tax
total payment - 380.62
1185.57 - due at signing which includeds
501.62 - capital cost which they say is the bank fee
32.61 - sales tax
389.62 1st month payment
125.00 reg fee
128.50 - tag fee
8.22 other taxes
1185.57 total due at lease signing
Agreed upon value on vehicle 25539.07 +
595.00 acquisition fee +
599.95 Dealer fee = 26734.02
This seems like an ok deal but what do you think? Thank you much appreciated
Whats with a bank fee? thats weird, I haven't ever done that, sounds like that might be their Doc fee, and that is TOO high. Work on that. $500, I would ask to see exactly in writing where its going, and for what?
Also whats with the dealer fee too? So now a Bank Fee, and a Dealer fee?
uh, NO!! Work on this, That is a way to get your overall price higher for the car, so it seems like your getting a lower price, but nearly $1,100 or so for fees? Sounds fishy. Decent payment, but dang, whats with all the fees?
Dealers disguise much of their fees, and they can blindside you. Why spend more than you have to.
Check it all out, before signing.
$599 dealer fee? Their way of getting more income. I would'nt be suprised if its going to the same budget as the bank fee.
$500 Bank fee? Its a lease, going through American Honda, and I am sure they don't have this fee. Unless your going through another third party.
They sound so similar....
Acquisition fee is a given, but these are negotiable, and I would walk if they don't get rid of them, I have never had to deal with this...EVER. Even when getting
quotes. There are other dealers, don't worry, but try investigating.
They are taking advantage of ya, with these fees... Dealers think we are stupid, DON'T sign yet.
You need to work on your downpayment a bit more. Try to keep it minimal, and find out exactly why it is so much. Remember, when getting quotes, email many dealers, even if they are a bit away from you, that way you can fully inform yourself of an average quote. Online quotes can be had by going to Honda.com and getting dealers in your area, then email them, Ask for a lease quote, provide them with a good sale price to begin with, of course start with $0 down! Downpayments blur any deal sometimes. Get the email quote you like, and provide this to a dealer you want to buy from, most will honor it. I have gotten some good quotes online, it helps.
1. Sale Price
2. $0 down! ( if you want to lower your payment, though not advised, don't put one down until your deal is as good as its gets)
3. Check all the fees they are charging (don't ask, just look for them)
Thats it, good deals can be had, and sometimes it takes a few tries before getting the one you want.
Is your credit over 720? If so the money factor (interest rate) should be more than half of what your paying. This will take over $50 a month off your payment. If your credit is not that good ask a relative to co-sign that has over 720 score. It is a savings of $2000 - $3000 over the life of the lease.
Also I know dealers in NJ/NY metro area selling that car for $27000, plus tax and fees
Joe
By your statement above, it appears you already leased the car?
If I was to lease for 36mo 15k with first payment down it would be $369. Is this a good deal?
If I was to lease for 36mo 15k with first payment down it would be $369. Is this a good deal?
How much are financing in the lease? Need more info. My payment with no $ down, 36 mo/15k is $359. But TTL may account for the difference.
I found lots of good information in this forum and wanted to post my latest deal. I was turning in my 06 ex V6 (6spd) and went back to the same large dealer in OC California. I ended up with the last 08 silver.
36 Mo, 12K
Gross Cap cost - 22,584
Negotiated cost - 21,989
Residual - 60%
MF - .00186 (Tier 1)
$615.97 drive off
$310.72 including 7.75% tax.
The 08's are moving quickly!
Approx fees should look like this:
Doc - 45
Title - 220
Tire - 8.75
I ended up with 615 drive off putting no money down.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Accord Sedan EX-L V6 without navigation with 15,000 miles per year are .00129 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
For comparison, my similar deal for the EX-L V6 w/o nav with a slightly higher msrp came to $359/mo. The rates are lower for V6's than 4-cyl which could account for some but not all the difference.
Can someone please provide the current lease rates for the following vehicles?
2008 Accord 2.4 EX-L w/nav and
2009 Accord 2.4EX-L w/nav
Thanks...
Is this a good deal?