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And I did look at the previous posts, and I couldn't find one that was recent, for the 4-cylinder with navigation, with $0 down, and in CA [particularly the San Francisco Bay area].
I got an internet quote
$341 a month
36 months
10k miles per yr
First Payment and Bank Fee upfront
Is this reasonable or a gimmick to lure me into the place?
According to my calculations, if you were to lease a 2009 Honda Accord Sedan EX-L 4-cylinder with an automatic transmission without navigation that has an MSRP of $26,925 and a selling price of $23,820 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $280. The payment for an otherwise identical lease with only 12,000 miles per year would be $294.
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- "2009 Honda Accord"
- "Honda Accord (2008-) Maintenance and Repair"
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- "Honda Accord Quality Control Issues"
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The used vehicle price guides on the Internet are even having a tough time keeping up with the implosion in the used vehicle market. Look around at what dealers in your area are charing for similar used vehicles right now...of course keeping in mind that most prices leave room to negotiate. There is a very good chance that it will be in your best interest to pass on purchasing your car.
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When negotiating your lease on this car, keep in mind that Honda just introduced $750 dealer cash on it. After taking this cash into account, you should be able to negotiate a selling price that's below dealer invoice.
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$750 Factory Cash
$595 AQ Fee
.00184 MF
Residual LX-P I-4 Auto (12K per year)
Residual EX I-4 Auto (12K per year)
Residual EX-L I-4 Auto (12K per year)
Anyone that can help it would be much appriciated
I'll just look at my payoff versus trade value, and go from there. It certainly won't be like my 06 accord though.
Anyway payment totaled $379.25 month plus sales tax.
I negotiated the deal up to today over the internet and went in with my notes from this forum and a competitive deal from another dealer. They were not going to let me leave. They beat that deal and threw in the first month and tags-title.
Thank you guys so much for the wealth of information I found here over the last month. You saved me hundreds if not a thousand or so dollars on the Cap cost.
oops, if its to good to be true it probably is, i just realized i said EX in my original, its actually an LX..nice car anyway..
I have one month left on a lease for an 06 Accord ($368) and I was able to roll it into the price of the 09, plus some of the startup costs for new lease
Selling price is $25,683
MSRP is $29,225
Residual is .61
Money Factor is .00184
With $250 down and 9% PA sales tax added to payment, price from the dealer is $356
If I enter these numbers into any online lease calculator I get a monthly price of $317!
What the :mad: is going on :confuse:
Is there something I am missing?
Things aren't looking good for my next lease. It seems I'll have to lose 2 cylinders in order to keep my payments anywhere close to what they are now. Then again, maybe that's not such a bad thing considering that I only use all of my V6's power when I'm doing something stupid...
had my inspection for my 06 Accord yesterday.
I made sure to get the car professionally washed inside and outside yesterday morning beforehand (but not detailed) so the car was extremely spotless and vacuumed..
I believe the Inspection company was called SGS - (Honda Financing uses them). A 20 minute inspection... checked tire wear and also paint consistency (he had some type of device that checks to see if the paint is equally consistent). Checked off some scratches and gouges on front and rear bumpers plus a pink on my back side panel. Altogether, he determined about $500 worth of damage, which is under the $1500 threshold that Honda gives.
While I feel he was thorough, he was definitely not checking every inch of the car and being a b@llb^ster.
Hope this helps.
David
Can someone tell me why we have to deal with salesmen who do not have the correct information and cannot explain how payments are calculated???
Has anyone else had any luck in trading in a lease a little early? I know trade-in values are down, so it may not be feasible. I was hoping they would give me a trade in value equal to the lease pay-off. I can always wait until May when the lease is up and eat the extra mileage. I don't normally have that much mileage, my son started high school in 2006 right after I leased the car, I underestimated how much extra driving I would have to do until he got his own car.
You are really going to have to weigh how much over you think will be in mileage with what it will cost you to bailout early, One way or the other you will have to pay those remaining payments whether they roll it into a new lease or you just pay them.
My Accord only has 24K miles on it so I'm about 13k miles under. I was hoping I would have a little equity in it to trade early since it is in perfect condition, but the dealers won't even appraise it because they don't want any more used cars on their lot since nothing is selling. I do enjoy the car so I don't mind waiting a little longer for something new.
David
In my 06 Accord lease, I was a point in the middle of the lease, or close to the middle of the lease, I was able to walk away owing nothing. If I had kept it, I too would be turning it in this January 09. I would have been over my miles too, that would just eat into any equity I had. It will not be alot, but should be some, but still depends on those conditions being just right, even for Honda.
Doing a trade appraisal now, would be smart. Then you can see exactly where you are at, Perhaps getting the trade appraisal at more than just 1 dealer.
Pay off versus your Trade-in Value is exactly what they look at. As long as your car meets those conditions, you should be okay. Your so close, I really don't see you having much problem. Honda is one of the few cars you would be able to do this with few problems.
Getting a new EX-L 4cyl you want, should be obtainable to where you need to be, with good deals to be had. You have a bit of time to work with, but I would get the appraisal, if it looks good then, then get out, do a new lease. Get a good sale price, get all your miles you need up front, that way you are not putting yourself in the same position years again later. You should be able to do $0 down lease, and get where you need. For under $400, you can get a loaded Accord or Acura TSX.
Most dealers will want you out, they see you being a great candidate for a new lease. You can get out anytime you want, but its the timing that affects the money you owe and trade value. Heck you can trade only a few months in, but you are going to owe money, because you haven't touched the pay off amount enough, the value is lower. I never keep my leases for the full terms, have had little problems.
Its all about the timing, keep your car in top shape, miles, market.
Good Luck!
Reputable dealer who I have leased from before.
Said it would take him a couple of days to locate one.
Fast forward to today Tuesday, 1/6/08 and he thinks he may have one or two within reach and will know tomorrow hopefully.
I checked edmunds' incentive list and it shows that marketing support went from $750 to $1000 as of January 6, 2009 on all 09 Accords.
Should this be passed on to me, or have the residuals changed such that its a wash, or worse, maybe the numbers are worse as of the 6th, so I should keep my mouth shut?? Any input would be greatly appreciated. Thanks.
btw lease deal is 3 yrs/12k $469/mo everything rolled into payment, incl. tax, bank fee etc. Only thing I have to foot is for new plates and 1st payment.
The numbers for an otherwise identical lease of an '09 Accord Sedan EX 4-cyl. are .00250 and 61%. Lastly, the numbers for an otherwise identical lease of an '09 Accord Sedan EX-L 4-cyl.are .00250 and 59%.
When negotiating your lease on this car, make sure to take advantage of the $750 dealer cash that Honda is providing on it. This cash should enable you to negotiate a capitalized cost for your lease that's below dealer invoice.
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I think the payment is decent. Though I have seen lower, but that was on a sedan, not a coupe. Honestly, because the Acura TSX is around this price, perhaps a bit higher, and they lease a bit better.
Let us know, Its decent, but really want to know the sale price, the fees rolled into the deal. Sounds like the sale price isn't really good.
It is a v6 speed ex-l w/ navi I ordered.
By fees I really just meant tax and bank fee.
Besides that, I think it's just DMV. Either way, all I'll be paying upfront is first months payment and plates.
Anyone know if the residuals or money factor got better, worse or stayed the same this month? Thanks again,
Invoice: $24710
Cap Cost: $23865 ($845 under invoice)
MF: 0.00185
Residual: 0.59 ($16033)
Fees (everything): Roughly $1000 give or take $10-20
* ~ 500 rolled into the lease
* 500 up front
Term: 36 months
Mo. payments incl 7% tax = 329.34/mo
Went through internet department of DCH Kay Honda in Eatontown, NJ. They honored the internet price with no haggle at all.The staff was friendly, courteous, and respectful. In and out in a couple of hours.
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MSRP: 26, 925
Selling Price: 24,000 ($450 below invoice). Selling price also included splash guards, locking lugs, and trunk tray.
36 month lease
12k miles/ year
Money Factor: .00184 (approx 4.4% interest rate)
Residual: 61%
Monthly Payment: $299
Cash upfront was $1320, which included $299 first payment, $400 cap cost reduction, $470 admin fee, and tag/license fees.
I normally don't like to pay for cap cost reduction on a lease, but wife wanted to see a "2" as the first digit of monthly payment rather than a "3". Payment without the $400 cap cost reduction was $311.
Feel like this was a good deal, and the car is solid all-around. This forum was very helpful in my negotiations.
Good deal.
Model: EX-L V4
MSRP: $27,075
Selling: $23,723
Miles: 12,000
Months: 39
Fees: $2035 (including - tax, title, license, first month payment and admin fee)
Down Payment: $1,000
Total Due at Signing: $3,035
Total Monthly Payments: $274
If I rolled all of the fees into my monthly payment, my payments would have been $365/mo but I really needed to keep them as low as possible even though I know it isn't recommended to put money down on a lease.
I appreciate any feedback - Thanks
I think you did decent, but some how I think your payment with $0 could be a bit lower.
AFTER we had signed all the papers and gotten the credit check, they decided to pull out of the deal at the 11th hour and made up some BS excuse about miscalculating the residual, when the salesman had gone back and forth between us and the GM multiple times. They then said that the "actual" number was 390 dollars a month.
I will never be going back to this dealership ever again and I recommend you do the same. No dealership should be able to waste 4 hours of your life: if a dealership wants to pull the bait and switch, they might have wanted to shoot for a number close to the one that was agreed upon.
Thanks to all who post on the Forum.
09' Accord Sedan EX-L I4, No Nav, Black/Black w/ guards
MSRP: $27,075
Selling price: $22,920 (exc. Tax, Title, License)
MF in Chicago is .0025 this month (which translates to 6%) kind of high, I'd wait until next month if you can and see if it comes down. I wanted to put down additional Sec. Deposits to bring the MF down, but the Finance Mgr. told me Honda doesn't do that. I was kind of surprised because Nissan/Infiniti allowed me to put down 5 additional with my last lease.
Residuals are .58 for 39 months and .59 for 36 months.
Just a note, the MF and Residuals are the same for all dealers, because they are provided by Honda.
Dealer: Brilliance Honda, Crystal Lake (great internet experience, they provided a legit 1st pricing offer via email) no b.s. internet fee's or surprises when I got there
Another crazy IL thing to alert everyone was that IL passed a law last year that now taxes any Mfr. Incentives, so if you can believe it I had to pay tax on the $750.
Some dealers have no clue on customer service, and impressions can last a lifetime.
If they had stated a deal, then if it was someones miscalculation, then they need to absorb that somehow and honor it. Or if it was truly a mistake, take all the paper work, break it down to the customer, so that they understand why and how it was mistake then at least we know its not on purpose to change the deal. I would certainly understand if they did that to me. Mistakes happen, but that is when the general manager comes out with friendly attitude, takes the high road, and say, listen, we made a mistake, and this is the issue, then show it, but I might not believe that either. It really is plug and play.
If a dealer causes all this back and forth, wheeling and dealing, chances are they don't have all their crap together, and cannot do the job. I would walk out. If they cannot help me get a car at a decent price, and treat me with respect, then its not worth it.
Remember, keep your deal $0 down at first, when the sale price and terms are negotiated, then you may put your money down to lower your payment. Throwing the money down at the beginning gives the dealer an opportunity for them to take you on a wild ride.
Sorry that happened to you, but realize there are good dealers out there that will treat you right, never settle for less.
I'm trying to find out the money factor and residual value for Accord Ex V6 (36 months, 12K miles). Are they different from what you've mentioned in your previous reply (.00280 and 55%)?
Since I'm a novice in this, is it usually customary to negotiate the dealer's sticker price (besides the mentioned $1000 incentive from Honda) in order to reduce the cap cost?
What are the additional (hidden) fees should one be aware of while negotiating the lease term?
thanks in advance and sorry if my questions are confusing.
Months in Lease: 39
Payment: $349 (remember IL requires all taxes be paid up-front on full value, so that added $1700+ into the amount leased)
I have had 3 leases and never had a bank fee. I just paid my first payment and out the door I go.