2013 and earlier-Honda Accord Lease Questions

jhinsc

Uh huh. :confuse: Like we're supposed to believe that. In a previous post you state a higher payment on your 06. Did you get a 0% lease rate on your 06 - unlikely. Where are you coming from in your statement? When I said seems high, it wasn't like I was shouting "OMG - you're getting ripped off!" My 08 V6 EXL is approximately the same price as an 09 4 cyl EXL w/nav, and you can get good discounts on Accords these days. Based on the deal the original poster said they got, their equivalent lease rate is approx. 5.4% and they added $1500 in accessories, so it seems reasonable now.

robgettier

I am being offered the following deal:
Sales price w dest: $24,534 including dealer $100 fee plus cost on "appearance package"
money factor: .00225
residual: 56% (I need to check this, I think it should be 58% w/o nav)

I have a few questions:
1. I assume Honda Finance charges a $595 aquisition fee?
2. Is the residual calculated on MSRP plus dest plus retail of accessories?
3. This will be my 2nd lease. On the first I bought their protection package (for dings, scratches, etc) for $699. Is this something that should be bought?
4. I have an 07 EXL V6 with a $17900 payoff. Dealer is willing to give me $17000 for it (up from $14800 initial offer). This lease is up in October. It seemed to me that being offered $2250 under invoice on the new car makes up for the $900 shortfall on the trade. I am not sure the deal will be that good in October. 2010 models will be on the lots and 2009 will have slimmer pickings and lower residuals and likely not a $2250 incentive ($1750 from factory and $500 from dealer).
5. My other option is to buy the '07 for $15900 in October. The car will not be worth this much (trade in value).

Any insights would be greatly appreciated.

anzial

Oh my, I have a personal stalker. Well, I don't care you don't believe me, my payments are $268+tax=$298 a month. BTW, at the time, 06 models didn't differ much in pricing from the following model years. In any case, my point was that deals differ from year to year, from model to model, so your example is completely irrelevant. Find a deal available TODAY, you can NOT use past deals for comparison.

krwest1

Rob, I can answer a few of your questions.

1. Yes, $595 acquisition fee.
2. Residual is based on MSRP + destination. Accessories are not residualized.
3. Not worth it. Honda Finance waives up to $1500 in damage at the end of your lease, so they likely won't charge you for dings/scratches anyway.

robgettier

Thanks for the reply. I have since found out that the 56% residual is for a 15k/yr lease and the 58% residual is for a 12k/yr lease. Does that sound right?

krwest1

That is correct, there is a 2% difference between 12k/year and 15k/year.

chuck68516

anzial: "I can quote a Hammer lease and say how much Honda Accord lease is better by comparison."

Now I know you are really sharp because you lease hammers. I buy mine with cash at my local hardware store. But yes, leasing a hammer does make about the same amount of financial sense as leasing a Honda.

To be honest I thought I was in the CR-V forum. My mistake. I just edited my blast of the CR-V to also include the Accord. I can't remember the last time Honda had an affordable lease. Affordable meaning you actually get your money's worth. $470 for an Accord makes about as much sense as $500 for a Pilot.

anonymousposts

This is a forum for those who have questions or interest in a lease for a Honda Accord. If you have nothing of value to contribute why waste the keystrokes? Everyone has a "whats it worth to me" factor. To me, my Accord was worth $385 per month. It may be worth more or less to someone here. However, if you have no constructive input or real-world experience your opinion has a "WIWTM" value of zero.

ryannyc

Just signed a lease today - 2009 Honda EX-L V6 36 mos., 15,000 miles

MSRP - $29,375
Cap Cost - $25,574
36 Months, 15,000 Miles
RV - 56%
Money Factor - .00225
Monthly Payment - $345
Up Front Payment - $814.83 (Bank Fee - $595, Tax on Bank Fee $49.83, $170 MV Fees)

Concession - Dealer is picking up first monthly payment so only 35x$345 for us
Taxes to be included in lease - calculated tomorrow when I pick up the vehicle

hoping I did well...

jhinsc

Just signed a lease today - 2009 Honda EX-L V6 36 mos., 15,000 miles

MSRP - $29,375
Cap Cost - $25,574
36 Months, 15,000 Miles
RV - 56%
Money Factor - .00225
Monthly Payment - $345
Up Front Payment - $814.83 (Bank Fee - $595, Tax on Bank Fee $49.83, $170 MV Fees)

Concession - Dealer is picking up first monthly payment so only 35x$345 for us
Taxes to be included in lease - calculated tomorrow when I pick up the vehicle

hoping I did well...

You did very well! Very similar to my 08 EXL V6 36mo/15k miles at $359/mo, but I had no upfront payment and my state sales tax incl. (SC).

jhinsc

Absolutely no interest in stalking you - don't flatter yourself (LOL!). Still difficult to believe your 06 deal without a 0% lease rate or $'s down. There is very little difference between 08 and 09 deals except for slight increase in msrp. Rates are a bit higher but dealer cash is also higher helping to offset. Look at my previous post for justification of my response(s). If you don't understand, we can just agree to disagree.

dong84

is it coupe or sedan? and where did you buy your car?
And if it is possible, can you send me your deal, so I can take it to the dealer to get the same deal?
Thanks,

jalili

how did you come up with $345 including tax. the math does not work out. It's $348 if there was no sales tax. With sales tax it is def higher...your numbers don't jive.

stoopy

True. It's $347.99 NOT including tax. I don't get why people post their pre-tax payments. I guess to make themselves feel better about their deal.

CarMan@Edmunds

Hi pacinpelo. Ideally zero down means nothing due at lease signing other than your car's first month's payment, but paying things like the acquisition fee at signing isn't terrible. Just don't make any sort of capitalized cost reduction.

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CarMan@Edmunds

Hi superman1011. Unfortunately what you were told is correct. In general, leasing is more expensive today than when you lease your current car several years ago. In hindsight, it appears as though banks had been overestimating vehicles' residual values for years giving cars and trucks artificially low lease payments.

Flash forward to last summer and the banks started to get absolutely crushed by the trucks that were coming back off lease. The high gas prices that we were experiencing caused them to be worth way less than most banks had assumed. This trend continued and extended to cars once the recession started to get worse.

You are likely going to have to spend more to lease a similar vehicle today than you spent to lease one several years ago. It's some consolation at least that the Accord has been redesigned since you leased yours and it is a better car today.

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CarMan@Edmunds

Hi falashan. Anzial is right. Vehicles' residual values are based upon a percentage of their full MSRPs, including any residual values that can be residualized AND the destination charge.

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CarMan@Edmunds

This looks like a very good deal, ryannyc. Thanks for taking the time to share the details with everyone. Real world examples like this are always helpful to others who are in the market for similar vehicles. If you have the time, make sure to 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: !

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jhinsc

Pre-tax payments is a more accurate assessment of how good of a deal they got compared to others nationally. States vary in their tax rates. My state does not include taxes in the monthly payments. The max $300 sale tax on autos is either pre-paid or included in total amount financed. Tax-included payments are only beneficial for others in the same local market.

ryannyc

Tax was not included - thought I made that clear with "caculated tomorrow"

Total with taxes was $383 - cap was actually a bit lower at $25,474 i believe.

landy86

got a 2009 Honda Accord EX on a lease. 36 months 15k for 315 a month and 1100 total down inception fees included. is this a good deal or bad? can anyone help me with this?

landy86

the above was a 2dr coup 4cyln automatic

falashan

Thanks for getting back to me Car_man,

Then I suspect that this deal is not too far off the mark-

2009 EX-L V6 Coupe 6M
Term 36 months
Mileage 15,000
MSRP: $29,625
Selling Price: $25,799
MF: .00225
Residual: 56% or $16,590
Pre-Tax Payment: $351.18

Since I drive 30,000 a year my lease would be:
Pre-tax payment: $476.18
Adjusted residual: $12,090

Due at delivery: $595 acquisition fee, $100 Doc fee and first month lease payment.

clueless16

Need help with a Honda Accord lease. Consumer Reports says $25,331 is the bottom line price on a 2009 Honda Accord CPE, 3.5 EX-L V6 5AT with a sticker of $29,625. Assuming that is the best price, what should I expect to pay on a 36 month lease with first month down and 15,000 miles annually? Any one kind enough to answer this puzzle will save me countless hours of phone calls and shopping.

Thanks in advance,

Myra

siny

i just started getting lease quotes on a 2009 accord ex-l w/o navi.
i was given the following figures.
MSRP $ 27,075
NET CAP COST $ 22,761
RESIDUAL VALUE $ 15,704
MONEY FACTOR .00225

36 months , 12k miles $0 down + inception fees (less than 750) $313/mo incl ny tax
is this a fair deal? if not what area do i have room to negotiate with the dealer on.

kevin83

I'm talking about leasing this car for payments of roughly $380 (with tax) over 36 months. I'd be putting $3K down. The cap cost is $26,200. Have I done okay with this?

bestdeal42

The Money factor seems a little high, I got my lease three years ago with MF of 0.00129. If anything I expect rates to be lower and not higher (of course I am assuming excellent credit score).

For example if you were offered 0.00129 as your money factor your monthly payment would reduce by nearly $38 a month before tax.

Hope this helps

shoreshot

Just picked up yesterday:

09 Honda Accord EX-L V6 Extended Warranty 36 mos 15k/yr

0 down (not a penny)
375/month (includes taxes)
15k/year
35 payments (dealer picked up 1st payment)
Extended Warranty to cover car entire term of lease
Buyout is somewhere around 16k

Shopped all around Florida this was the best deal I could get

dong84

was it coupe or sedan?

Thanks,

jhinsc

bestdeal, you'll find that money factors will change periodically and it happens that it's .00225 right now. When you bought 3 yrs ago, it was lower, BUT I bet there was hardly any, if at all, Honda-to-dealer cash available. When I leased in Aug 08, my money factor was aprox .00163, but dealer cash was low. Honda will mix it up from time to time offering dealer cash or lower rates, but typically not both at the same time, unless they have a severely bloated inventory of a model.

bestdeal42

I am sure you are right I just always thought money factor is just another method of charging interest and with rates so much lower than 3 years ago I expected money factors to follow or at least be the same. But I guess not :confuse:

More recently a Mazda dealer quoted me a MF of 0.00064 on a lease for a CX-7 which is more in line with the way I had figured it.

Is it normal for MF to vary so much between leases offered manufacturer finance companies? (third party finance excluded of course)

jhinsc

Is it normal for MF to vary so much between leases offered manufacturer finance companies? (third party finance excluded of course)
Yes, they can vary a lot. The CX-7 is probably not selling as well as Mazda wants, which is why they're offering a great rate. If you're looking at leasing, the final payment should be what you're most interested in. All things being equal, who cares how the pymt amount is arrived at, whether helped by dealer/consumer cash or low rate. If the deal doesn't make sense, either there is no/little cash, rates are not low enough, (credit score can affect rate quoted) or manufacturer doesn't see the need to provide financial support to move their vehicles.

zonda

I'm looking to lease a 4 cyl Manula EX coupe ... the dealerships have quoted me 19,2K as they first offer price
2 questions .. what have people been able to get as a final selling price for this car...how much lower than this quote can I go ?

Also what would be a good lease deal for this car, I'm flexible on downpayment

gpsac

Would u please provide res %'s for LX
24 @ 12k
24 @ 15k
36 @ 12k ( i think 60%)
36 @ 15k

Thanks and appreciate you providing this info over the years!

shoreshot

NO, I would not move forward with that deal....I got 0 down 15/k yr 36 mos 375/mo extended warranty(thrown in last minute by dealer)...dealer picked up all inception fees and first month payment........
for a 2009 sedan EX-L V6

leasing_honda

Hello Friends,

Please help me in leasing a Honda accord. I went to a Maryland car dealer for leasing 2009 Honda Accord EX-L V6 with navigation system. I am being offered 358.50$ per month with 1500$ down payment (include first month payment) for 3 years and 36000 miles.

Now I want to switch to EX-L V4 (four cylinders) + navigation system. Tomorrow I am going to meet the dealer again. On phone the dealer told me my new monthly lease will be less then 358.50$ as it is a four cylinder car not six cylinder.

Can you please tell me what would be the best monthly lease payment would be for EX-L V4 (four cylinders) + navigation system? I am thinking of around 300 $ per month as Honda Accord EX-L V4 is 2000$ less then Honda Accord EX-L V6.

Also I want to trade-in my Honda accord 2000 with 105K miles on it. The trade-in price is 3000$ according the dealer. Is it a right price? Should I either trade-in my car or give the 1500$ down payment? If I only trade-in my car how much money will it reduce on my monthly payments? If I do the both 3000$ trade in+ 1500$ down payment then how much monthly payment would change?

Waiting for your comments.

Thanks

robgettier

I would negotiate the price of the car, not the lease payment. The lease factors (residual and money factor) are set by Honda Finance. I would be worried about the price you are paying for the car and then see what the lease payment works out to be. If you are in Maryland, consider Jim Coleman Honda in Clarksville. I just purchased a 2009 Accord EXL V6 (no Nav) for $2250 under invoice. This is the deal they are giving on all Accords if you press for it. This deal is better than what Honda dealers are currently getting in Factory Incentives and Dealer Holdback. Most of the dealers I contacted in Maryland through the internet were offering a price in the same ballpark.

jhinsc

In addition to negotiating price, make sure the dealer does not mark up the rate on the lease. They can't below what Honda sets, but they can mark it up. You don't want the dealer giving you a great price and then try to make it up in the rate. The residual amount is set, the dealer can't change that. For your 2000 Accord, check Edmunds TMV for your car - is it in line with what the dealer wants to give you? It's seems to me it would be easy to sell. It's the perfect first car for a high school/college student. Good luck.

bostonben

Car_Man or others:

What is the current money factor and residual for an LX-P automatic? In Massachusetts.

Thanks.

barcuri

Good for you. Great price. I used CR's "bottom line price ($13,077) as my starting point... well, actually, I rounded down to 13,000, and told the dealer that's what I believed his dealership's cost to be. They wanted to settle at 23,750. I wrote down the $23.750, added wing spoiler at 525 and mud flaps for 125... totaling $24,400 and signed it. The manager accepted it. Only after I'd returned home did I realize he was charging over-market for the options (dealer price was actually $640 and $145 respectively, so at the time I thought I was being savvy; live and learn).

Total for my 2009 EX-L I4 no nav, plus wing spoiler and splash guards = $24,400
(excluding local tax, title, & license)

Despite my bungling the option prices, I was (and remain) pleased with the deal I got. The 2.9% financing for 36 months is sweet!

Dealership: John Holtz Honda (Rochester, NY)

dong84

I got an deal from Maryland dealer,

what do you guys think?

the price we are using would be as follows

MSRP=$25,175 Accord ex coupe with freight charge and wheel locks

Sale price = $21,895
Taxes= $1319.64
Tag's and fee's =$321 ( includes all state and dealer fee's)
Money factor=.00225
residual= .56%=$14,098
no cash down 36 month lease payment at 15,000 miles per year=$365 per month

the current lease program ends on 05/04/09 which is today so this lease payment could change as of tomorrow

pacinpelo

Anyone in the know on the new programs from AHFC. Looking for details on a EX-L V6 model with zero out.

falashan

Would someone please post the new, as of May 5th, Residuals and Money Factors for a EX-L V6 COUPE non/Navi when they become available.

Thanks

golfdude1

the MF went down. The dealership here in Houston said it went from .000250 down to .000207. Toyota dealership is stating the same. I think the car companies are still hurting and they will do what it takes to move the cars.

Trying to get into an Accord now. LX
MSRP $22,375
CAP COST $20,178
MF: .000207
RES AT 57%
35months
15k
299.00
only $500 out of pocket.
T&TL already taken care of.

What do you guys think? A good deal or not?

jasonscott

Was about to pull the trigger this weekend on an Accord EX-L Auto 4Cyl w/ Navi AND a Pilot Touring 2WD.

Had my numbers all worked out with the dealer, but spoke to them today and they now say that there is no more incentive on the Accord and the Pilot incentive dropped!

Oh Boy this may be a deal breaker!

Can someone give me the current incentives on the Accord and the MF and resid for the Accord 4cyl Auto w/Navi 36 months?

Any help would be appreciated.

pacinpelo

I was told this week that a 1000 dollar incentive on the Accord by Honda had ended.

I am trusting somone in the know can shed light on what would be a fair deal out of pocket on your 4 cyl EX-L Navi Accord and on my EX-L-V6 non-Navi. With the $1000 gone prices have spiked quite a bit, obviously residuals have dropped too.

barcuri

It's true that the $1000 incentive ran only through May 4. My guess is that Honda is hoping the launch of the new Insight will be their biggest draw for the next month or so. If you're not in a desperate hurry, I'd suggest waiting until the end of the month to make your best possible deal. If you're not happy with their price, wait a bit longer... their annual clearance sale will be starting in about two months.

PS: Your model is a step higher than mine (I bought an EX-L i4, no nav). My deal was $23,600 before tax, title and license (remember though, my dealer got a $1000 incentive from Honda; your dealer will not). I did add a wing spoiler and splash guards, but haven't listed them in the price (together, they added 650)

jasonscott

I see that on the honda website, in their lease special section they mention the accord lease with cap cost reduction (which may be paid from the suggested dealer contribution).

Does this mean that there is still a dealer cash available?

Please help...current lease expires sunday!

gpsac

Unless you are seeing some special "regional" offer, the 199.00 36mo lease is assuming the dealer lease the car for approximately 400 below invoice. Of course a dealer is not obligated to do this, however one would have to conclude that for Honda to advertise 400 below invoice that there is some money being passed down.

Wierd how they show the Accord deal twice with the same model number and only different color car. :confuse:

leasing_honda

Hi All,

I wan to buy Honda Accord LX-P 2009. Last month I was getting a quote of 330$ per month for next 5 years at 3.9% APR at an invoice of around 18000$ after 1500$ down payment including tags and taxes etc. Now this deal is gone.Because there are no incentives from Honda for this month.

I checked today and price has increased. Now I am getting 355$ per month with everything same as above. Is it a good deal?

Anybody has an idea about the May incentives or new Honda incentives for next month?
What about Honda's clearance sale?

I am confused whether to wait or pay 355$ per month.

Please advice