2013 and earlier-Honda Accord Lease Questions

fener1907

yes it was include tax title all fees ,also first payment include.To be honest with you i wasn't expecting that good deal from them as dealer, but what i notice that ,they really want sale as many sedan car try to sale so they can get more Honda pilot or another van or suv in their lot from honda.

jhinsc

If you spread the $2,999 down over 36 mo. (not factoring interest costs), it's equivalent to $83,30/mo, added to $299 = $382+/mo total cost of the lease - not good. Most likely too the $2,999 down does not included any taxes or fees - check into it. My dealer ran "specials" like this too but I ignored them and told them I wanted the Honda national APR/lease specials, which are better deals. Find out the invoice cost, minus the current dealer cash incentive plus a couple hundred, get the dealer to agree to sell the car at that price, then ask them to use that price to calculate the lease with no cash/deposit down. Make sure they don't mark up the money factor (assuming you have great credit scores). Good luck.

Yes, rates/incentives tend to get better toward the end of the model year (summer) because Honda wants to clear out the current model year and not have a lot of unsold 09's before the 10's are released for sale.

dong84

Hi, I am currently looking a lease for accord coupe. it seems like
you are getting a great deal. I assumed you were dealing with salespeople over emails, if it is possible, can you send some of info to my email.
the dealer I am dealing with now said they will match competitors' prices.
so let me know.
my email is dhyun4@hotmail.com

needanewride

The dealer I'm working with just decided to drop another $1000 off the Accord Coupe I'm going to lease. I'll post the new numbers once I receive them.

winecounrty

Shouldn't the lease payments plus the residual add to the price you paid for the car.?
Example I have a deal for a price of $25615.00
Resdual is $15299
MSRP $27373.00
Payment is 314.47 x 36 months= $11320.00
In this case the there is $1004.00 difference, what am I missing?
Thanks

tezane

Just received the following from the dealer - pls let me know if you think it is ok - my lease is up in April - not sure if I should wait then for better rates or not given that a manual is hard to find

MSRP $28,575
MF .00225
Residual 54%
36mos/12k miles/year

Sale price of $24,500 (includes the $1,000 mktg support for March)
Monthly payment of $379.65 (includes 9% PA sales tax)
$1,000 down payment includes first payment, PA tag fee, bank fee and doc fee

Thanks!

kyfdx

what am I missing?


The finance charge portion of the lease payment...

needanewride

I got the new Accord yesterday. It's a beautiful car, no doubt. I ended up just throwing the $4,500 down in the end. Went with the Black paint and black leather interior. My monthly payments are $286 including everything for the '09 Accord EX-L 4 CYL with 15K miles per year and I got tinting, wheel locks and mud guards thrown in as well as the auto-butler service. Good stuff.

ics88

I have a 06 Accord EX-L V6 and the lease is up in August. I plan on buying the car and have a few questions.

1. I was told Honda does not negotiate the buyout amount. Is that correct?

2. I want to finance the buyout amount. Can I roll the sales tax into the loan or I have to pay out of pocket in order to buy the car.

3. Any advantage or disadvantage on buying it during the last month of the lease vs. buying it early?

Thanks.

XxHaimBonxX

1. You should call them and find out. I don't see why not.

2. My understanding is that buy out amount includes sales tax. When you talk to Honda, confirm that.

3. Every lease payment you make, decreases your buy out amount by that payment. So it really does not matter if you buy it out early, or at the end of the lease.

Let us know the results.

falashan

I have checked with Honda about the sales tax because I live in MA and my son wants to register my accord in GA.

Honda does not collect sales tax.

They will provide the title and it is up to the buyer to pay the sales tax when (and where) the vehicle is registered.

Works out great for me, I can get the MA title and sign it over to my son.

He can then register and pay the tax in GA. Eliminating double tax.

XxHaimBonxX

Something doesn't add up here. The car is already registered, so when you pay it off, you simply get a title in your name and nothing else changes. This mean you wouldn't be charged any taxes after that. Once you get a title in your name, you can sign it over to whoever, and I assume you will be signing it over as a gift. When DMV in Georgia registers the car, they will look at the sale price of the vehicle to determine the sales tax. Since there was no sale, hence, no sales tax.

Here's what I was told when I called Honda to inquire why my pay off quote was few grand higher than my sale price. I was told that the pay off quote includes sales tax. This makes sense, since I was charged sales tax when I signed my lease, only for the lease period. If I wanted to pay it off, I would pay additional sales tax. I would call again because like I said earlier, your answer does not compute. Of course Honda collects sales tax.

kingpcgeek

There are always two payoff numbers. A dealer payoff and a consumer payoff. The dealer payoff does not include tax. The consumer payoff will include the sales tax.

XxHaimBonxX

Thanks for that piece of info, but what does that have to do with us?

jratcliffe

Hi Car_man,
It's been a long time since I've been on this board, I hope you're doing well! Can you confirm what the March residual value for the Accord EX-L V6 sedan with Navi for 12k/year is? The dealer is telling me 56%, vs. 58% for the same car w/o Navi. Is that right?
Also, the dealer is telling me that the 39 month lease isn't being offered in March (only 36 month) - is that correct?
Finally, any idea as to what the April deals are likely to be, both in terms of residual/MF and if the 39 month lease will be back?
Thanks!

jratcliffe

FYI, I've been offered $25,284 for that vehicle (EX-L V6 Sedan), so it sounds like your deal is very much in the range.

falashan

"The car is already registered, so when you pay it off, you simply get a title in your name and nothing else changes. This mean you wouldn't be charged any taxes after that"

While the car is registered, it is not registered to me but to AHFC.

At pay off time AHFC will send me a title but in order to registered it in my name I must pay the sales tax.

AHFC does not collect state sales tax on pay off amounts, only on the monthly lease payments.

XxHaimBonxX

Probably different in your state.

In NY my car is registered to me and when or if I pay it off, DMV simply sends me a title in the mail and I am home free.

CarMan@Edmunds

Hi ktulu. I see that you are considering making a $3,000 down payment on your Accord lease. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your car's monthly payment will be a little higher, you will be much safer going with a zero down lease.

For now I will work up a zero down lease for you. According to my calculations, if you were to lease a 2009 Honda Accord Coupe EX-L V6 without navigation that has an MSRP of $29,625 and a selling price of $25,410 ($1,500 under dealer invoice...which is very attainable given the incentives that are currently available on this model) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $348.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Greetings jrayer. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Honda Accord Sedan EX-L 4-cylinder with Navigation and 12,000 miles per year are .00225 and 65%, respectively. The numbers for an otherwise identical 36 month lease are .00225 and 58%.

When negotiating your lease on this car, make sure to take advantage of the dealer cash that is currently available on it. Honda has at least $1,500 on this car right now.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Welcome back, jratcliffe. I'm doing very well thanks. Honda Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord EX-L V6 Sedan with Navigation and 12,000 miles per year are .00225 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. What you were told is correct, the addition of navigation drops this car's residual value by 2%.

I personally am not a big fan of OEM navigation. Don't get me wrong, I love nav...I just don't think that the factory-installed nav is worth the money. Yes it looks better when it is in the dash, but other than that a portable nav unit like a Garmin Nuvi usually works better and costs less than OEM units. The most annoying part of OEM navigation is that not only do you have to pay big bucks for the option, but it is a double whammy because it usually lowers vehicles' residual values by a couple of points as well.

You are correct, Honda is not offering support on 39 month leases this month.

Honda's current lease program is scheduled to run through March 31st. It is difficult to say what Honda's new April program will look like. As the beginning of a new quarter, I would not be surprised if Honda Finance's residual values dropped by a couple of points. Honda might lower its money factors for make up for this natural residual value decline, but it is running a huge dealer stairstep program on Accords and Civics right now that I doubt will be available in April. You should be able to get an accord for at least $1,500 under invoice this month. If I was in the market for one, I personally would pull the trigger now rather than waiting. Again though, it is impossible for me to say what Honda's April programs will be like at this point.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

falashan

That explains the confusion, I think that New York state is the only state that requires leases to be written that way.

jratcliffe

Well, I pulled the trigger. Went with the 4 cyl (drove it, and it's very peppy!), but decided to get the nav. I realize it doesn't make complete financial sense, but, well, I just wanted it, and it is very very slick (voice activation, etc etc).

$29275 MSRP
$25197 selling price (about $400 under invoice after taking the $1k into account)
3/36 lease
0.00225 MF
56% residual
Paid first month's payment, plus plates, plus about $150 in junk fees (I tried to fight, but they had the best deal, and they wouldn't budge) up front.
$392/month, including weird New York taxes.

Car should be ready this weekend!

Also, FYI, they said that the March program (including MF, residual, and $1k) has been extended through April as well.

tccas

Yesterday (3-31-09) we leased an 09 V-6/EXL, no NAV, as follows: 36 mo./12K mi.per yr., MSRP $29,225, DC $26,684, SP $25,306, Dealer Cash $1000, Holdback $575, MF.00255, Res 58%, TMP $355.33 (w/5%tax), $(0) down, our 5th Accord lease. Almost got lower, as in past, trading in for equity 06 EXL V6, 37,649 mi.(15K per yr.), but inspection showed worn front tires, 3 in. cut in rear bumper & 2 repaired WS dings ($720). But, no charge by Honda on car turn in. Catch dealers at the end of month when they will give you the best deal to boost monthly sales no's. Call several & ask for someone who knows leases, tell them up front what you want, verify current lease factors & just listen. Some will tell you, up front, they can't/won't play, but someone has always been willing to deal. Wow, as I'm writing this, just got an email from a dealer offering $347, same car. Wife was scared factors would get worse on 4-1, I guess not...

anzial

Hearing about all these new MFs and residuals make me want to keep my old lease on 06 ex v6 - it's $296 for 12k/no nav! I doubt I have a chance ot repeating the same deal now

renz

tccas - you have no chance to repeat. I just traded in my 06 v6 6 speed no navi- $298/m. end of my 36m lease. After shopping a lot of cars I found the closest I could get to that was a new Mazda 6 - which I drove but the stick only came with the 4cyl. I ended up with a 09 TSX, 3yrs/15k 1250 down at $365 month. I am bringing breakfast to work everyday to make up for the higher car payment, but the car has everything i wanted for options and refinement. Good luck on your search. I would have bouught my 06 accord but the residual was about $4k more than what kelly blue book said the sale price should have been,

kingpcgeek

Catch dealers at the end of month when they will give you the best deal to boost monthly sales no's.
There is another school of thought that that is the worst time to buy a new car since everyone thinks its the best time. That is when the dealers have the most prospective customers. Its better to go earlier in the month when there are far fewer customers on the lot.

CarMan@Edmunds

Congratulations on getting your new Accord, jratcliffe. Thanks for taking the time to share the details of your lease 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 as well.

Enjoy your new ride :shades: !

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

pacinpelo

car_man...when you say zero down, is that true zero?
I was just given $380 lease (tax in), but need to come out about $1100 to start (1st, sec, etc)..naturally 36mo/12k.
Good deal based on what you know? OR can they do better.....

kingpcgeek

zero down on a lease usually means just the first months payment.

kyfdx

Generally, when Car_man quotes a lease payment from figures that you provide, it is with no CAP cost reduction.

Due at signing will be first payment, acquisition fee and a security deposit if required.

Since tax, title and license fees vary with every state, then those aren't included, either..

Hope that helps!
kyfdx
Host-Prices Paid Forums

jjsv

I am not too experienced in leasing cars, so I don't know if this is a good deal or not. Thanks for any feedback out there. I have an 06 v6 Honda with 29300 miles. My lease will be up in September. The deal I was offered was to take my car and I don't pay anything further on it, $500 down, no security deposit, for $250 month including taxes for a Civic LX, (.61 money factor?), or the same deal on an Accord EX (4 cyl) at $300 per month, both with 12k per year. Which is the better deal?

My current lease was for an 06 v6 accord, $250 per month including taxes and 3K down including first month. Is this a good deal, because I will be paying more for less than I did in 06, it seems.

anzial

You need to find out sales price on the vehicle, money factor and residual for us to make any kind of educated judgement on which deal is better

superman1011

Looking for a little feedback here: Currently have 42 month lease ending in June on 2006 EX-L Pilot AWD. a 34,000 sticker price. Got it for 349.00/month before taxes. A great deal i agree. Shopping around Honda dealerships for an accord now and no one is coming close to the same kind of deal i should expect for a much cheaper car. I was given the rant about the descrease in residual values and increase in money factors. is this the new standard? Should i expect to pay more for my lease no matter how well i negotitate?

thanks! :confuse: :confuse:

dong84

I got a deal from honda dealer in MD today.
Accord coupe EX 12k/36 and $250 a month with no downpayment.
Let me know please.

falashan

Is the residual value of a leased vehicle calculated on the NET (without destination charges) MSRP or on the GROSS (including destination charges) MSRP?

Thanks

lwwgr1

Looks like a great deal! Would you please post the details, to help with my negotiations.

vnovacats1

FYI:

36 month lease
Money Factor = .00225
Residual = 58%

Cap Cost $23,479
No money down
Monthly = $320.18 plus taxes (PA = 9%) thus $349/tax

Does this sound like a good deal?

dong84

I am going to go to the dealer tomorrow to get this car. I am not sure whether I will get this deal. as you know, they alway say differently when you actually get there and buy it. I will post it tomorrow around afternoon what happen.

infamous514

4 cyl ex-l no nav

36 month lease
Money Factor = .00225
Residual = 58%
Cap Cost $23,097
Tax, Title, DMV and bank fee up front (is there any way around the bank fee?? I am a current acura lessee they are telling me there's no avoiding it)
Monthly = 305

does this sound about right?

XxHaimBonxX

so you are talking about $2000 down which makes it a mediocre deal. I was offered $345 per month with only 1st month and DMV down for the same exact car.

infamous514

it's about 1700 with all fees... which is really only 1100 (depending what your registration and plate fees are) more than you'll be paying and I'll be saving $40 a month which works out to be about the same...

anonymousposts

2009 Accord EX-L Navigation with Manual transmission

Sales price: 24,999
Installed accessories: Fog lights, spoiler, mud guards, body-side molding, cargo net, and first aid kit: $1604

Payment: $400 per month with $0 cap cost reduction
Term: 36 months/12k per year

All area dealers seem to be in the same ball park. Is this as good as it gets? The number in my head using the best quoted price for the car and the best quoted price from the dealers is $389.00 assuming Honda charges a $595 acquisition fee. If they don't the payment should be $373 ....

anzial

AFAIK, residual is based of MSRP. Yep, if you buy it out at the end, you'll be paying full MSRP + destination charge

anzial

oops, disregard the secon sentence in my previous post lol totally off-base

jhinsc

Seems high to me. I have an 08 EXL V6 non-nav at $359/mo, 15k miles per year, no sec dep and $0 down. Maybe you should look at Acura TSX for that payment?

anzial

Seriously, do you really wanna compare current deals to what was offered in the past? In that case, your deal is also not very hot either, I've got 2006 EXL V6 non-nav for $268 a month, 0 down/0sec dep. Granted, I'm only on 12k a year but 15k would've added ~$20 max (prolly less than $10).

anonymousposts

We bought last night. We paid the first payment and doc fee out of pocket which was $896. Payments are $385 per month for 36 months. The MSRP of the car was $28,375 and we added about $1500 worth of Honda accessories. Residual is 56% because of NAV and the current money factor is .00225. Cap cost was $26,300 which included accessories and the Honda Finance acquisition fee.

chuck68516

Yeah I agree, that's not a good deal at all. I looked at the CR-V's, Pilots, Accords. Way too expensive to lease for what you get. I just leased a 2009 Subaru Tribeca Special Edition last Monday, $360 per month w/ 7% tax, zero down, 36 months, only first payment due at signing. The Tribeca has better AWD system, better interior, better styling, more features and for less money.

anzial

Well, it's Subaru, it's supposed to be cheaper to compete. Common, this is a discussion for Accord leases, at least bring in lease numbers on vehicles in same category. I mean I can quote a Hammer lease and say how much Honda Accord lease is better by comparison.