We've been to three dealerships and all three had the same exact fees, that I was told is always the same. They are as follows: Bank Fee $595, DMV Fees: $137, Document Fee $199, First Month Payment: $274 and Taxes which depends on the selling price of the car.
They did also give us the option of rolling all of these fees into our monthly payment, but then we would have been looking at $350 a month.
Has anyone else been able to come close to these prices I've been quoted because other dealerships I've been calling say they can't even come close and I'm starting to wonder if they were just pulling a "bait & switch" on me.
Here are the figures again:
Honda Accord EX-L V4 MSRP: $27,075 Selling Price: $23,723 Months: 39 Miles: 12,000 per year Taxes and Fees: $2,035 approx
Monthly Payment (1) : $350 per month (includes all taxes and fees rolled into payment with $0 due at signing) Monthly Payment (2) : $299 per month (pay $2,035 in taxes and fees at signing) Monthly Payment (3) : $274 per month (pay $2,035 in taxes and fees plus $1,000 down payment at signing, for a total of $3,035)
I'm glad that you found this forum so helpful, banker2. Thanks for taking the time to share the details of your deal with everyone. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience there as well. Enjoy your new ride :shades: !
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Hi marys236. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord EX-L 4-cylinder Sedan without navigation with 15,000 miles per year are .00250 and 57%, respectively. The numbers for an otherwise identical lease of an '09 Accord V6 Sedan without nav are .00280 and 57%.
When negotiating your lease, make sure to take advantage of the $750 dealer cash that is available on '09 Accord 4-cylinders and the $1,000 on the '09 Accord V6 right now.
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I'd be happy to help you out, mogpod. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord Sedan EX V6 with 12,000 miles per year are .00280 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
You absolutely should negotiate the selling price of the car that you want to lease. If I was in the market for an '09 Accord right now, I would insist that the dealer I was working with base the lease upon a selling price of right around dealer invoice minus the $1,000 dealer cash.
As far as fees go, at lease signing you will be asked to pay your car's first month's payment, Honda Finance's $595 acquisition fee, possibly a security deposit equivalent to your car's monthly payment rounded up to the nearest $25 increment (though Honda may be waiting its security deposit requirement on this model right now), and any required state taxes or fees. You can usually roll most of these items into your car's capitalized cost to make them part off your monthly payment rather than paying them at signing if you want. Watch out for any sort of doc fee. This is nothing more than a way for dealers to add profit to deals.
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Much appreciated, Car_man. This is very helpful. I have a couple of more clarifications to ask if you please:
Some of the dealers' lease specials include a 39 months term on specific trims. What would be the residual for a 39 months term (EX V6, LX..., standard)?
You've mentioned the "$1000 dealer cash" incentive. Does this come from Honda? In which case it would be nice to have a print out when one walks into a dealership. Or is it something that is negotiated verbally and in which case the buyer won't nececerily get it.
You're very welcome, mogpod. Honda stretched out its lease specials from 36 to 39 months in January to help offset some of the drop in its residual values. 39 month leases typically have slightly lower monthly payments than 36 month leases do because they provide three additional monthly payments to spread out vehicles' large initial depreciation hits out over.
Honda Finance's buy rate lease money factor for a 39 lease of a 2009 Accord EX V6 is still .00280, but its 15k residual value for this term is 58%.
The $1,000 dealer cash is a payment provided by Honda to dealers to help them sell vehicles. Dealers are free to use the money on deals or to pocket it if they can. Savvy consumers who know about dealer cash incentives are usually able to get dealers to reduce their vehicles' selling prices by that amount.
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Ok guys, im so glad I found this site because i have a few questions.
I went to my local Honda dealer (Lawrence, MA) for a 09 Coupe EX-L Manual, I'm interested in a 39 month lease and got them down to $23,087 for cap.
According to the lease special on Honda's website my payment should be $355 w/o tax based on Tier 1 i assume.
However I've seen a couple people here get a much lower monthly payment for the same car, can someone explain what else I'm missing? I havent purchased the vehicle yet or submitted a credit app.... I did last summer and was placed in Tier 2.
i just got in a 36 month lease for a 2009 accord ex-l sedan. i put down 1300. cash and i had a trade that got me 1050. for a total of 2350. out of pocket. that final car price was $23,800 my payments are 267. per month. this includes taxes and all fees. i got this deal at boch honda in norwood ma so you are not to far. all you have to do is keep walking out. every time i got up and started to walk out they dropped at least $10.00 off your monthly payment. if you need it i can send you all the exact numbers and you can see if they match it. to top it off i got a keychain with 6 free oil changes.
I was at Boch on Friday, but they didnt have an EX-L coupe manual without Nav. They had one with Nav which they kept trying to get me to buy... but they didnt want to sell it at around invoice of a no nav coupe. So, i went home. They called me back yesterday twice but i didnt answer.
I've been dealing with Commonwealth motors for the past week, they have the car i want but aren't willing to give me a trade in value for my car.
I'd like to see your exact number because you got a good deal
Hi Car_man or any others who can provide guidance,
This is my first post to this excellent resource! I would appreciate any help or guidance you could provide for the subject vehicle. This is a loaded 4 cylinder coupe. I have seen many posts w/o navi but few with. I believe you have said the dealer incentive on 4 cylinders is $750.
Like everyone I want a good deal but am confused as the MF, Residual % and other values seems to change with specifics. I also would appreciate your thoughts on mileage allowance and impact to monthly payments.
I am a current AHFC lessee and expect a good rating. MSRP per Edmunds is $29255 I hope to get near invoice with destination less dealer incentive or $25798
I am in the Indianapolis area. Your help is appreciated Thank you, Chumshonda
When trading, it is so hard to get the value you need. Especially when the values are given on KBB. They are usually lower at the dealer, even more so when you are not at a dealer that is the same brand as your car. If I trade a Honda, at a Honda dealer, I tend to see more value then if I trade at a VW, etc.
You might want to go online and email these dealers and get a deal going, it seems to work really well for me. Then bring the email in, sign the papers.
here is the specifics. i got 1050.00 for my trade. i put 1700. cash for a total of 2750. upfront. they really only charged my credit card for 1300. instead of 1700. for some reason. i may have owed a little less than thought on my trade in. this included: my first month payment 267.71, doc fee 298.00, registration 36.00, title 50.00, sales tax on cash paid 49.92.
gross capitalized cost 25040. cap cost reduction 2048.37 adjusted cap cost 22991.63 residual value 16424.25 depreciation 6567.38 rent charge 2611.96 total of base payments 9178.56 lease payments 36 base monthly single payment 254.96 sales tax 12.75 monthly payment 267.71
the total payment on my lease is 12119.85. ask for jocemi. he was a sales manager and after dealing with some nit wit for 2 hours, jocemi came over and the deal was done in 5 minutes. nice guy and seemed to have more pull, or heart.
i didn't try to get rid of these charges. it may have worked. what i did was take their internet offer(which i didn't have good enough credit for) and said mathch it. they came pretty close. the difference with my lease is that i didn't have to pay my taxes up front as i would have with the internet deal because i didn't qualify. don't know if thats good or bad. i may have got this deal because i waited until the last week of the last month of the year. dealers tend to move cars more easily during this time. they get to put it on their quarterly and year end profit reports. try to work a deal over the phone with boch for the one with nav. they already called you so give them the numbers you want to pay and tell them if they can't meet it exactly not to call back. good luck.
For some reason this doesnt seem like a very good deal. This is based on a $27,500 price which seems pretty good, but it seems like I can get those lease numbers for a luxury car of another brand. Has anyone leased the top of the line accord or is it just a waste of money?
That doesn't look too hot, I was quote around $430, give or take a bit. On average. With $0 down, first payment due. This was for a loaded Accord. Nav/V6.
Even at that, I am sure it could be a bit lower, but it sounds good to me for a loaded accord. Sale price around $27+.
It would not be waste of money at all! But, certainly look at all your options, there are so many cars that are really cool. Heck, look at the new TSX or the TL, they have a decent lease out now. I would stick with Honda a bit longer though, get more quotes.
Remember start with $0 down, get your sale price, payment, then thrown in your down if you absolutely need it lower.
Good Luck! Take your time, no need to rush, there are deals to be had!
Though it looks like your original down payment only brought you down from what the payment I got on a quote? All the money doesn't really bring it down much. $1,000=$20-35 off your payment.
You got a pretty good deal. My deal for an identical 08 was $0 out of pocket, 36 mo, 15k miles at $359. No tax included as $300 sales tax included in total price.
Boch. Herb Chambers (Burlington) was also right around there in terms of price. Dealt with both via the Internet. Went back and forth a little bit over a few days. Finally told them each that I was looking to get the deal done that day and put out my offer. Didn't get exactly what I was looking for, but got a fair price (and they made a little bit too, which is fine). I didn't step foot into the dealership until I had the deal done. This allowed me to get in and out of the dealership in 1h 30m (I hate being in those places longer than absolutely necessary).
FYI, both were pushing a 39 mo lease hard. I avoided because it goes beyond the bumper to bumper warranty and 3 years from now my car needs/wants will change so I don't want to extend it any more. Also, no 10k/yr leases available, which was more in line with my driving needs.
It is sickening to run some of these lease numbers with decent money factors (current money factors equate to a 6.72% rate). Granted the $1000 cash support shaves off about $30 per month, but the money factor rates are really driving up monthly prices.
Finally after a month and some change I finally have a minute to post my deal! I want to thank EVERYONE for their help here with the post lease inspection expectations to the information on pricing etc. CarMan, hats off to you! You are a wealth of information! And now...to the meat and taters...12/22/08 purchase date...
2009 EXL V6 no NAV - $0 down
Agreed Upon Value=$24448.06
Gross Cap Cost=$25,281.56 Cap Cost Reduction=$0 Adjusted Cap Cost=$25,281.56 Residual=$15,756.25 Depreciation=$9,525.31 Rent Charge=2718.36 Total of Base Payments=$12243.67 Lease Payments=36 Base Monthly Payments=$340.10 Monthly Sales/Use Tax=$19.90 Total Monthly Single Payment=$360.00
18,000 Miles per year Purchase Option at End of Lease Term=$15756.25
And there it is...seemed good to me, all I had to pay for out of my own pocket was the first month $360.
Nothing else.
Thanks again everyone! See you in 35 months or sooner! Here's to another fine Honda Accord Experience!
Welcome Chumshonda. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord Coupe EX-L 4-cylinder with navigation and 15,000 miles per year are .00250 and 55%, respectively for consumers who qualify for its top credit tier. If you were to lease with only 12,000 miles per year, this car's residual value would be 2% higher.
Let's work up a sample lease payment for you and see what we come up with. According to my calculations if you were to lease the aforementioned car with an MSRP of $29,255 and a selling price of $25,798 through Honda Finance right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment would be around $375. With only 12,000 miles per year, this car's payment would drop to around $360.
You can shave a little more off of this car's payment by going with a 39 month lease. That's what I would do if I was in the market for it. Adding those three months to the term only drops the residual value by 1%. It lowers the 15k payment to around $360 and the 12k payment to around $347.
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I am looking for a lease in Hawaii and am having terrible luck. I qualify for Honda's best rate and I am willing to go 39 months with a low mileage allowance. However, on a $0 down (i.e., first month only), I am being quoted $400/mo! (plus tax). :mad:
Any thoughts any of you might have would be appreciated.
Hi jrm005. Honda's lease program varies by term and mileage allowance. For now I will assume that you're interested in a 36 month lease with 12,000 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 2009 Accord Sedan EX 4-cyl with 12,000 miles per year are .00250 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and pay a security deposit at lease signing.
The numbers for an otherwise identical lease of an '09 Accord Sedan EX-L are .00250 and 59%.
When negotiating your lease on this car, make sure to take the $750 cash incentive that Honda is currently providing on it into account. This cash should enable you to get this car for below invoice.
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Hi apaone. Here's the info that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord Sedan EX-L V6 without navigation with 12,000 miles per year are .00280 and 59%, respectively for consumers who qualify for its top credit tier and pay a security deposit at lease signing.
I believe that what the dealer told you about 12k being the lowest mileage allowance that Honda Finance offers on Honda division vehicles is correct.
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Hi FlynHwn. While living in Paradise is great for some things, like being able to go out to the beach while I sit here shivering and frowning at the snow outside of my window , it is not a great place to get an awesome deal on a new vehicle. You are a fairly captive audience. The lack of competition on the islands makes getting a really low price on a new vehicle very difficult.
The best way to get a good deal on any new vehicle, including one that is leased, is to negotiate as low a selling price as possible. The lower your car's price is, the lower its lease payment will be. Find out what selling price the dealer that you are working with is charging you and try to get them to lower it.
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Here you go, gpsac. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Accord Sedan EX 4-cylinder with 15,000 miles per year are .00250 and 67%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Interestingly, the number for an otherwise identical lease of an LX 4-cylinder Sedan are the same.
The numbers for an otherwise identical lease of an '09 EX V6 Sedan are .00280 and 67%.
When negotiating your lease, make sure to take advantage of the $750 dealer cash that Honda is providing on Accord 4-cylinders and $1,000 on Accord V6s.
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Car man, Thank you for the information. I changed my title to note that I am currently dealing on a loaded V-6 Accord Coupe.
Here is the offer I have on the table and I would appreciate any comments if I should pull the trigger. BTW, my other option is to buy the car with a credit union loan of 3.99% at 60 months so if anyone has a thought on which option is best I am certainly interested:
Bottom line, should I pull the trigger on this lease, pursue further negotiations (but not sure were since I'm well below invoice and AHFC sets the MF and Residuals, right?) or switch to purchase?
Hope these numbers help others in pursuit of their best deal.
Sorry if this is in the wrong place. Here's my question:
I have a truck I just purchased and owe about 12k on, I'm figuring the trade is about 18k. I'm going through a divorce and need to get some cash. My question is: can I trade the truck and, assuming the numbers above come through take 1 or 2 k out of the truck as a downpayment on a lease of an Accord or Civic and get a check for the balance?
thanks in advance!
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The dealer can cut you a check for the equity you have in your trade-in. I would take the first pmnt and fees out of the equity and take a check for the rest.
I've been reading the board for a week now. Lots and lots of help. Thank you! I'm interested in leasing an EX-L Coupe (pretty much the same MSRP as sedan) and in my notes I compiled a list of very detailed deals that people posted here. Then what I did is I calculated TOTAL $ spent over a 36 months lease 12K/year (including absolutely everything: monthly payments, fees, taxes, title, destination, etc.). The best deals range was about $11,300 to $12,300.
Perhaps I'm missing something, but would it be a fair starting point in negotiations to tell the dealer, "How much below $12,000 all inclusive can you go?" And if he can't, then ask what he can do? I mean, in my mind, haggling over selling price, then haggling of any extra costs that dealer comes up with just makes the haggling process go much longer and makes it more complicated. No?
Mahalo. Any suggestion on what a fair purchase price would be and what incentives may be available? Also, do you know what the current hold back is on this model? I am interested in how greedy the dealer is being.
Hey, I e-mailed them, but whoever contacted me gave me much higher numbers. I wonder what initial internet quote you had -- just looking for reference to see if going there in person to haggle makes any sense. Thanks much in advance for reply!
I e-mailed half a dozen dealerships on Long Island, NY and spoke to some of them on the phone, and the best offer I got is below. When comparing to what people have posted earlier in January and December (on comparative sign&drive level $30-40 per month less), this deal kind of sucks. (Perhaps they can knock off $10 if I show up in person; don't know how much more in-person negotiation can knock down). Any COMMENTS?
All taxes and fees, unless stated otherwise are rolled into monthly payments.
2009 EL-X coupe, 4 cyl, auto Months 39 Miles 12k a year Upfront $447.19 (1st month payment and $67.50 for DMV Fees) plus your plates Monthly $379.69 Residual Value is 56% Buy Back is $15,218 Money factor is 0.002500
This is based on $23,910 selling price (incl. destination charge).
Hey Chumshonda. Both the selling price that you were quoted and the money factor that you are being charged look great. If you like the car, I personally don't see any reason not to pull the trigger on this deal.
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They did also give us the option of rolling all of these fees into our monthly payment, but then we would have been looking at $350 a month.
Has anyone else been able to come close to these prices I've been quoted because other dealerships I've been calling say they can't even come close and I'm starting to wonder if they were just pulling a "bait & switch" on me.
Here are the figures again:
Honda Accord EX-L V4
MSRP: $27,075
Selling Price: $23,723
Months: 39
Miles: 12,000 per year
Taxes and Fees: $2,035 approx
Monthly Payment (1) : $350 per month (includes all taxes and fees rolled into payment with $0 due at signing)
Monthly Payment (2) : $299 per month (pay $2,035 in taxes and fees at signing)
Monthly Payment (3) : $274 per month (pay $2,035 in taxes and fees plus $1,000 down payment at signing, for a total of $3,035)
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When negotiating your lease, make sure to take advantage of the $750 dealer cash that is available on '09 Accord 4-cylinders and the $1,000 on the '09 Accord V6 right now.
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You absolutely should negotiate the selling price of the car that you want to lease. If I was in the market for an '09 Accord right now, I would insist that the dealer I was working with base the lease upon a selling price of right around dealer invoice minus the $1,000 dealer cash.
As far as fees go, at lease signing you will be asked to pay your car's first month's payment, Honda Finance's $595 acquisition fee, possibly a security deposit equivalent to your car's monthly payment rounded up to the nearest $25 increment (though Honda may be waiting its security deposit requirement on this model right now), and any required state taxes or fees. You can usually roll most of these items into your car's capitalized cost to make them part off your monthly payment rather than paying them at signing if you want. Watch out for any sort of doc fee. This is nothing more than a way for dealers to add profit to deals.
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I have a couple of more clarifications to ask if you please:
Some of the dealers' lease specials include a 39 months term on specific trims. What would be the residual for a 39 months term (EX V6, LX..., standard)?
You've mentioned the "$1000 dealer cash" incentive. Does this come from Honda? In which case it would be nice to have a print out when one walks into a dealership.
Or is it something that is negotiated verbally and in which case the buyer won't nececerily get it.
Honda Finance's buy rate lease money factor for a 39 lease of a 2009 Accord EX V6 is still .00280, but its 15k residual value for this term is 58%.
The $1,000 dealer cash is a payment provided by Honda to dealers to help them sell vehicles. Dealers are free to use the money on deals or to pocket it if they can. Savvy consumers who know about dealer cash incentives are usually able to get dealers to reduce their vehicles' selling prices by that amount.
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I went to my local Honda dealer (Lawrence, MA) for a 09 Coupe EX-L Manual, I'm interested in a 39 month lease and got them down to $23,087 for cap.
According to the lease special on Honda's website my payment should be $355 w/o tax based on Tier 1 i assume.
However I've seen a couple people here get a much lower monthly payment for the same car, can someone explain what else I'm missing? I havent purchased the vehicle yet or submitted a credit app.... I did last summer and was placed in Tier 2.
I've been dealing with Commonwealth motors for the past week, they have the car i want but aren't willing to give me a trade in value for my car.
I'd like to see your exact number because you got a good deal
This is my first post to this excellent resource!
I would appreciate any help or guidance you could provide for the subject vehicle. This is a loaded 4 cylinder coupe. I have seen many posts w/o navi but few with. I believe you have said the dealer incentive on 4 cylinders is $750.
Like everyone I want a good deal but am confused as the MF, Residual % and other values seems to change with specifics. I also would appreciate your thoughts on mileage allowance and impact to monthly payments.
I am a current AHFC lessee and expect a good rating.
MSRP per Edmunds is $29255
I hope to get near invoice with destination less dealer incentive or $25798
I am in the Indianapolis area.
Your help is appreciated
Thank you,
Chumshonda
You might want to go online and email these dealers and get a deal going, it seems to work really well for me. Then bring the email in, sign the papers.
doc fee 298.00,
registration 36.00,
title 50.00,
sales tax on cash paid 49.92.
gross capitalized cost 25040.
cap cost reduction 2048.37
adjusted cap cost 22991.63
residual value 16424.25
depreciation 6567.38
rent charge 2611.96
total of base payments 9178.56
lease payments 36
base monthly single payment 254.96
sales tax 12.75
monthly payment 267.71
the total payment on my lease is 12119.85. ask for jocemi. he was a sales manager and after dealing with some nit wit for 2 hours, jocemi came over and the deal was done in 5 minutes. nice guy and seemed to have more pull, or heart.
EX (4L) 12K miles - Money Factor? Residual? Term?
EX-L (4L) 12K miles - Money Factor? Residual? Term?
Thanks in advance!!
also, whats the "rent charge" ?
and lastly you got an additional $1k towards cap from your trade?
unfortunately Boch doesnt have a 4cyl EX-L Coupe with no nav, manual
39 months at $292 + tax for an '09 Accord LX 4 Cyl.
1st month's payment due at signing
12k miles/yr.
MSRP = $22,375
Sales price = $20,160
Residual = $13,648
Money Factor = .00250
Any comments on this deal?
Thanks in advance.
Great Job!
2009 Accord Sedan EXL V6 (No Nav), 10k miles (if available)
2009 Accord Sedan EXL V6 (No Nav), 12k miles
I had a dealer tell me that 12k miles is the lowest mileage option. Is that true?
36 months
15k miles
2500 down
398 + tax / month
For some reason this doesnt seem like a very good deal. This is based on
a $27,500 price which seems pretty good, but it seems like I can get those lease numbers for a luxury car of another brand. Has anyone leased the top of the line accord or is it just a waste of money?
36 mos
12k yr
$300 month
(No NAV)
$2097 total out of pocket not including plates.
I have bought several Hondas from this dealer in the past.
I hesitated to jump on the deal and now I regret it. Payments on the same deal with this month's rates are about $50 higher.
Anyone get anything close to this in Jan?
Even at that, I am sure it could be a bit lower, but it sounds good to me for a loaded accord. Sale price around $27+.
It would not be waste of money at all! But, certainly look at all your options, there are so many cars that are really cool. Heck, look at the new TSX or the TL, they have a decent lease out now. I would stick with Honda a bit longer though, get more quotes.
Remember start with $0 down, get your sale price, payment, then thrown in your down if you absolutely need it lower.
Good Luck! Take your time, no need to rush, there are deals to be had!
Though it looks like your original down payment only brought you down from what the payment I got on a quote? All the money doesn't really bring it down much.
$1,000=$20-35 off your payment.
36 months, 1800 TDO, 12k miles
accord v6 exl w/ navi ($27,500) $343.86 / month + tax
accord v6 exl w/o navi ($25,900) $327.45 / month + tax
I dont understand why I was quoted so high. Are the MF and residual values
incorrect??
2009 Accord EXL V6 Sedan (No Nav)
36 mo / 12k mi
MSRP: $29,375 (Includes destination fee of $670)
Cap Cost: $25,480
Only first month payment at signing: $363/mo (includes 5% MA sales tax)
So the dealer tells me the values:
54% residual .0028 MF for cpe v6 w/navi
55% residual .0028 MF for cpe v6 w/o navi
Are residual values different in different states?
Those are pretty crappy residuals for an Accord.
Any reply would be great!!!
Thanks,
Robert
FYI, both were pushing a 39 mo lease hard. I avoided because it goes beyond the bumper to bumper warranty and 3 years from now my car needs/wants will change so I don't want to extend it any more. Also, no 10k/yr leases available, which was more in line with my driving needs.
Finally after a month and some change I finally have a minute to post my deal!
I want to thank EVERYONE for their help here with the post lease inspection expectations to the information on pricing etc. CarMan, hats off to you! You are a wealth of information! And now...to the meat and taters...12/22/08 purchase date...
2009 EXL V6 no NAV - $0 down
Agreed Upon Value=$24448.06
Gross Cap Cost=$25,281.56
Cap Cost Reduction=$0
Adjusted Cap Cost=$25,281.56
Residual=$15,756.25
Depreciation=$9,525.31
Rent Charge=2718.36
Total of Base Payments=$12243.67
Lease Payments=36
Base Monthly Payments=$340.10
Monthly Sales/Use Tax=$19.90
Total Monthly Single Payment=$360.00
18,000 Miles per year
Purchase Option at End of Lease Term=$15756.25
And there it is...seemed good to me, all I had to pay for out of my own pocket was the first month $360.
Nothing else.
Thanks again everyone! See you in 35 months or sooner! Here's to another fine Honda Accord Experience!
Let's work up a sample lease payment for you and see what we come up with. According to my calculations if you were to lease the aforementioned car with an MSRP of $29,255 and a selling price of $25,798 through Honda Finance right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment would be around $375. With only 12,000 miles per year, this car's payment would drop to around $360.
You can shave a little more off of this car's payment by going with a 39 month lease. That's what I would do if I was in the market for it. Adding those three months to the term only drops the residual value by 1%. It lowers the 15k payment to around $360 and the 12k payment to around $347.
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Any thoughts any of you might have would be appreciated.
do you have the 24 mo rate and res for ex and lx 4 and v6 sedan @15k mi?
thank you
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord Sedan EX 4-cyl with 12,000 miles per year are .00250 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and pay a security deposit at lease signing.
The numbers for an otherwise identical lease of an '09 Accord Sedan EX-L are .00250 and 59%.
When negotiating your lease on this car, make sure to take the $750 cash incentive that Honda is currently providing on it into account. This cash should enable you to get this car for below invoice.
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I believe that what the dealer told you about 12k being the lowest mileage allowance that Honda Finance offers on Honda division vehicles is correct.
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The best way to get a good deal on any new vehicle, including one that is leased, is to negotiate as low a selling price as possible. The lower your car's price is, the lower its lease payment will be. Find out what selling price the dealer that you are working with is charging you and try to get them to lower it.
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The numbers for an otherwise identical lease of an '09 EX V6 Sedan are .00280 and 67%.
When negotiating your lease, make sure to take advantage of the $750 dealer cash that Honda is providing on Accord 4-cylinders and $1,000 on Accord V6s.
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Here is the offer I have on the table and I would appreciate any comments if I should pull the trigger. BTW, my other option is to buy the car with a credit union loan of 3.99% at 60 months so if anyone has a thought on which option is best I am certainly interested:
MSRP 31,825
Gross Cap Cost 27,448
Acquisition Fee 595
Residual 53% @ 39 months 16,867
Money Factor .00280
Base Payment 412.25 + 28.86 IN Sales Tax @ 7%
572 OTD (First + Doc Fee)
Bottom line, should I pull the trigger on this lease, pursue further negotiations (but not sure were since I'm well below invoice and AHFC sets the MF and Residuals, right?) or switch to purchase?
Hope these numbers help others in pursuit of their best deal.
I have a truck I just purchased and owe about 12k on, I'm figuring the trade is about 18k. I'm going through a divorce and need to get some cash. My question is: can I trade the truck and, assuming the numbers above come through take 1 or 2 k out of the truck as a downpayment on a lease of an Accord or Civic and get a check for the balance?
thanks in advance!
2024 Jeep Grand Cherokee L Limited Velvet Red over Wicker Beige
2024 Audi Q5 Premium Plus Daytona Gray over Beige
2017 BMW X1 Jet Black over Mocha
2024 Jeep Grand Cherokee L Limited Velvet Red over Wicker Beige
2024 Audi Q5 Premium Plus Daytona Gray over Beige
2017 BMW X1 Jet Black over Mocha
I'm interested in leasing an EX-L Coupe (pretty much the same MSRP as sedan) and in my notes I compiled a list of very detailed deals that people posted here. Then what I did is I calculated TOTAL $ spent over a 36 months lease 12K/year (including absolutely everything: monthly payments, fees, taxes, title, destination, etc.). The best deals range was about $11,300 to $12,300.
Perhaps I'm missing something, but would it be a fair starting point in negotiations to tell the dealer, "How much below $12,000 all inclusive can you go?" And if he can't, then ask what he can do? I mean, in my mind, haggling over selling price, then haggling of any extra costs that dealer comes up with just makes the haggling process go much longer and makes it more complicated. No?
I e-mailed them, but whoever contacted me gave me much higher numbers. I wonder what initial internet quote you had -- just looking for reference to see if going there in person to haggle makes any sense.
Thanks much in advance for reply!
All taxes and fees, unless stated otherwise are rolled into monthly payments.
2009 EL-X coupe, 4 cyl, auto
Months 39
Miles 12k a year
Upfront $447.19 (1st month payment and $67.50 for DMV Fees) plus your plates
Monthly $379.69
Residual Value is 56%
Buy Back is $15,218
Money factor is 0.002500
This is based on $23,910 selling price (incl. destination charge).
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