2013 and earlier-Honda Accord Lease Questions

deshsiny

Just got a quote for $309/mo with nothing down, only first months payment and DMV fees (about $500 Total)

39 Months / 10K per year

Good Deal?

I am in New York.

kingpcgeek

Without the selling price of a car it is very difficult to evaluate a lease deal.

jhinsc

Why so much down? $3500 / 36 mo = $97/mo. Is there tax an license included in that down payment?

toyoman8

yes tax and lic and 1st paym. included in the down. I don't think its a bad deal. $24,000

beckman2713

Hello Everyone..this forum and site has been so insightful..Thank You!

I'm getting ready to lease an Accord for the first time. I wanted to post a reply from a dealership I just got through email. I think its a little high, looking at the other similar posts. Please feel free to comment or provide some insight or suggestions to help me get through this process.

2009 Honda Accord EX-L Sedan (auto): 36 months x $349 12K per year. 1st payment and dmv fees down ONLY. ($500 TOTAL). 55% residual ($14,913.25). Money Factor .00171. Sale Price is $23,445.

Thanks Again!

avalon2000

This 2010 Toyota was $50+ less @ mo. than a 2009 loaded Accord EXL-V6 w/NAV, so I just leased the Camry.

2010 Toyota Camry XLE-V6 w/NAV [comes with XM radio]
heated front seats
smart key pushbutton start
wheel locks
5- pc floor mats

In NJ
36 mo./15k
Sign & Drive [$0.00 money down, just pay tags,first mo.]
residual: $18,052 [fixed by Toyota]
Tier 1 credit money factor: .00048
NYC sales tax: 8.375% [a/o 8/1/09 8.875%]
doc fee: $199
gap insurance: $10@ mo. [Toyota Fiance charges extra]
Toyota Fin. Toyota lease orig fee: $650
$384.61 @ mo. incl. sales tax

cassy1028

I thought I was getting a good deal, but then I saw yours...Im in Northern NJ as well. I havent signed it yet so Im going to shop around. Could you give me the name of the dealership?

Honda Accord EX-L 6cyl--no nav
$2,000 down
$25,500 sale price (including the $1500)
12k
$368/month including taxes, doc fee.
I dont have the resid or cap cost.

jhinsc

What was the Camry's msrp and what price did you negotiate for the lease?

markonline007

Planet Honda in Union, NJ. I just want to make sure you noticed that I leased a 4 cyl and it looks like you are pricing a 6.

Mark

thenewlew

I'm looking for the MF and Residual on a:

EX-L V6 with 15,000 miles (36 month)

I'd like the numbers with Nav and without Nav so I can compare. Any help would be great. :confuse:

g35flooded

Hey guys was wondering if you could help me out. I am comoing out of a 07 G35 AWD sedan. I love the car but with this economy I am looking to down grade and save up some money since my lease is up next month.

I am from New York and got this deal at a Honda Dealership:

2009 EX-L Accord
1100 down (bank fee, plates, first month payment and tax)
$338 a month - 36 month lease 12 k miles... he said they don't offer 10k miles with the Honda bank for a lease. I only put like 7k miles a yr so 10k would be key.

msrp $30,125
Invoice $26,707
55 Residual
MF 14.553

Is this a good deal??

I called my insurance company and it would cost me $62 a month which would bring me to $400 a month so I would only be saving $50 a month for a much less of a car than my G35. Anyway, please let me know if this is a good deal or not because I might have to look elsewhere for a new lease but I really like the Accord but not for the money its going to cost me with insurance.

kingpcgeek

Not sure if you are aware but there is $1000 lease cash available if you are currently leasing a G and lease a new one.

g35flooded

Really? I was at the dealership the other day and they didn't mention that... Is it $1,000 cash back?

cassy1028

are you looking at the 4 or 6cyl? Is that with nav? where are you in NY? Im in Northern NJ and, you can see my potential deal on the 6cly with the nav. Havent been able to negotiate any lower yet.

g35flooded

It was was the EX-L no nav or blue tooth - 4 cyl - staten island new york

kingpcgeek

$1000 G37 Lease Cash

g35flooded

Thanks! I'm going to call my Infiniti dealer tomorrow... Hopefully they participate for this deal.

bvdj84

With the economy the way it is...its surprising to see how much money people are spending on the down payments for a lease. Some of the deals I read recently are silly. To have that much down on a payment that isn't much more without it. Also, some are forgetting to leave start out with a $0 down deal, then later put money down if you need to.

Please consider keeping the money in the bank, and doing a $0 down. If you can "financially" put that much money down, then you can obviously make the slightly higher payment. If you look at the payment with a $0 down, and makes you think twice, then you need to look at getting the sale price lower or perhaps be looking another trim/car. Why in the world would you blow nearly $3,500 on a lease.
No offense. Just be careful. You wreck the car, you want out of the car early, well look at how much your wrapped up in it. The point of the lease is to keep it minimal. A clean deal, get in, get out. You get out even only after 2yrs, you are out. You still come up negative, then someone who did a $0 down.

ALWAYS, a $0 down deal with doing anything at first. Dealers love people who offer up the cash right off the bat. Perhaps I value my money too much. lol

toyoman8

well in my case, I am planning on keeping the car. I don't care about the fact that I put down, neither I care abut the millage, since I am paying the car off after the 36mos is up.

kingpcgeek

I don't care about the fact that I put down

You should care, even if you plan to buy it at lease end. Perfect explanation from leasecompare.com:

Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.

For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost.

The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider:

- Money down is taxable
- Take the money you would have put down and invest it
- Put your down payment in a savings account and use a portion each month to help make your lease payment

sahil908

Hi All,

I tried to search older posts but I was not able to locate what I was looking for. I would appreciates if someone can provide me with some some lease #s (such as MF and Res Val) for Accord EX-L V6. I am looking for 36 mos, 12k miles/yr lease. I dont think Nav or no nav should make a difference in terms of MF or Res val but hey what do I know. BTW, I am from around NY area. Thanks guys.

kingpcgeek

. I dont think Nav or no nav should make a difference in terms of MF or Res val but hey what do I know.

You guessed wrong. Honda is the only manufacturer that I know of that has different lease factors for NAV and non-NAV cars. For most car companies NAV is an option, for Honda it is a trim level, thus the factors are different. In general Honda really screws you over when leasing a car with NAV. You pretty much wind up paying the entire price of the NAV during the term of the lease, not just residualized amount.

ethandane

I am buying an EX L V6 with Nav, msrp is 31,600 - what do you think I can get this car for, is 25,500 or 26,000 realistic, i'm in nj. At the end of the day, i'm probably going to lease but want to get the purchase price set first.

thanks....

sahil908

Fair enough....but what are the numbers? I am content without Nav. Thanks.

okani

That is the great price man, i bought mine without navi option on new years eve - Dec 31 2008 for $25900 + taxes, etc - out of the door $28300 in Brooklyn, NY.

omaruddin

I currently drive a '07 Accord SE V6 (crazy deal $275/month with only 275 due at signing for a 36/15k lease)

I need an additional car, and was wondering how the '09 base coupes are leasing these days. I prefer a manual and 15k/year for either 36/39 months. Does anyone know the current residual and money factor for this model?

rbuckphd

Can anyone help--I've been offered the following deal
Out the door price on a 2009 Accord LX 19,731--I'd like to figure out what the payments should be. Can anyone give me the residual and money factor for the
09 Accord LX, 4cyl?

Thanks

mickeymouse1

Just wondering if anyone has had any luck with
swapalease.com...I currently have a 2007 Accord EX..4cyl/Auto/cloth seats/moonroof/excellent shape...27,030 miles..I have 8 payments of
$297.00 left which equals $2376.00. My options for getting out of it now(since I no longer need the car) are:
1)pay Honda Financial $2376.00 and walk away
2)find a buyer willing to buy the car for $16500. They send check for $16500 to Honda financial and I send check for $1100 which will equal my buyout. Honda will send me title and I sign it over to buyer. The only problem with this is that it takes 7-10 days to get the title. I don't know if many buyers will feel comfortable sending a check for this amount and having to wait up to 10 days to get the car.
3)SWAPALEASE...I've never used this service so I'm interested if anyone in the forum has any comments....For an upfront ad fee of $300, I would advertise the
car for payments of $370.00 per month...SWAPALEASE buys the car from Honda and finances the loan. Supposedly, my total cost would be the ad fee of $300.00 but I'm hesitant.
Any comments would be appreciated!
Thank you!

d_cisiv_1

mickeymouse1, i've been looking for a short-term lease to assume once i complete my current VW lease in Sept. '09, let me know what the breakdown is on your Accord lease: allowed mileage,sales tax, etc. email info to wekemo02@yahoo.com

kingpcgeek

SWAPALEASE buys the car from Honda and finances the loan.

Where did you read that? I was only aware that swapalease helps you transfer the lease between you and another party. I can find no place on their site where they will buy a car and then finance it.

smarty666

Hi, I just found out that Nissan/Infiniti financing is charging a $395 disposition fee at the end of their leases if you decide to return the car and not buy the vehicle or lease another vehicle from them!! I think that is absolutely outrageous especially if you really keep the car up and make all your payments on time; some people have said that other car manufactures are doing this as well; honda financial services doesn't have this listed on their website so I wanted to know if new 2009 or 2010 honda leases are having this same disposition fee at their lease conclusion? because if they don't, I'm going to lease a honda over a nissan hands down; any info would be greatly helpful!!!!

toyoman8

ok you do what you want but I will tell my story. back in 2005 i decided to get rid of my Volvo s60 (which i was leasing at that time) i found a buyer, a lawyer thru swaplease, everything worked well and pretty smooth unill, he started to make late payment, anywhere from 5-60 days late payments. And this is when we had many arguments, to the point that he would ignore my call and my emails. Anyway, long story short, in my lease he was only responsible for the payments, but not for the exceeded milage, and I know that he was over with the milage on the volvo. The original agreement was that he will buy the vehicle off at the end of the lease, but then he told me that he won't keep the car, there for I would be responsible for all the exceeded milage.

At the end he ended up somehow selling the car to the dealer or to the dealership emplye and I wasn't responsible for anything and he did ended up pay all the payments, but He did made 6 very late payments, which did put some minor damage on my credit. Over-all I would never do it agai, Find a buyer and sell it the car!!!

toyoman8

good example, but lease or no lease insurance pays for the amount the vehicle cost not just to pay off the balance. At least my insurance is like that.

mickeymouse1

I actually spoke to a representative. Normally, they do help you facilitate a lease transfer. Since Honda doesn't support the lease transfer, they have another option which is called the NEW LOAN PROGRAM. Here is a excerpt from the email I received from them:

Our New Loan Program (NLP) helps people that have leases with leasing companies that do not allow lease transfers (or would not want to remain obligated to a lease once transferred). The NLP can also be used in situations with high payments which need to be reduced or refinanced, over-mileage or any other applicable reason.

Benefits of the New Loan Program:

Your liability with the vehicle will be completely removed.
No penalties or additional fees.
No negative effect on your credit history (will reflect as paid as agreed and balance transferred).


Here is how the program works:



1. You will call your leasing or finance company for the dealer payoff (payoff without taxes)

· Swapalease.com will set up a new loan offer (based on payoff)

· Competitive Rates

· Zero Down

· No mileage limit

· Ownership at the end

2. Swapalease.com will list your vehicle until it sells

· Your buyer will apply for credit with our lenders

· Once approved, the new buyer will sign new loan documents with the lender

3. You will drive your vehicle as normal, but once the buyer’s credit is approved a third party finance firm will buy your vehicle for finance to a new party!

· The lender will call your financial institution to insure we have the correct payoff

· The lender will send a payoff check on your behalf to pay off the vehicle

mickeymouse1

That is exactly what I am afraid of....I think the piece of mind is worth the $$ it will cost....I appreciate your input!

kyfdx

Your issue had more to do with Volvo Finance than Swapalease. Some banks don't absolve you of responsibility when someone takes over your lease. If that is the case (and it was with Volvo Finance), then I'd never enter into that sort of arrangement.

However, there are plenty of banks that once the lease is assumed, will let you completely off the hook. (BMWFS is one of them). In that case, your liability is zero, once the lease transfer is completed.

regards,
kyfdx

d_cisiv_1

just an F.Y.I. , VW Credit,i'm sure the same goes for Audi, has a $450 disposition, really not looking forward to paying it in a couple of months,1st of 5 leases i have ever dropped off at least end

smarty666

wow, yeah I think; they all are starting to charge this disposition fee; I was just surprised because I just returned a 2005 FX35 lease where there was no disposition fee and have leased 2 Acura's where there was no disposition fee; I think right now Honda and Acura Financing are the only ones who still don't charge one

toyoman8

yes you are correct, swaplease did everything they could, to make it work as pleasant as possible. Now I like the NEW LOAN idea that they have, I would defiantly consider it, since they completely remove liability of the previous owner.

toyoman8

the company I went thru was Leasetrader.com so it may not have same rules as swaplease

burzhui

August

All standard Equipment
The Money factor is .00171
residual value 57%
Initial payment = destination charge + DMV + first month payment + NYCtire tax = $1200.00
12000K miles
36 months lease
Monthly payment $303 includes taxes

got it in queens, NY

Good Deal?

CarMan@Edmunds

You're welcome, koftheworld. The dealer invoice price of a 2009 Honda Accord LX with an automatic transmission is $20,398. If one subtracts the available $1,500 dealer cash from that it drops to around $18,900. The selling price that you were quoted for this car, $18,867.90, is right around dealer invoice minus the available incentives. That is a very good deal.

Enjoy your new ride :shades: !

Car_man
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CarMan@Edmunds

Here you go, ja54. 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 with 12,000 miles per year are .00171 and 55%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,500 dealer cash that is currently available on it.

Car_man
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aloveindy

I have negotiated the following thus far, good deal?

MSRP - 21,705
Sales price - $18,699
Destination $710 (i'll pay upfront)
MF - .00171
Residual - $12,328
Zero down
36 months, 12000 mi/yr
Monthly payment $254

I'm in Indiana if that makes any difference.

kingpcgeek

Destination is part of the selling price and should not be quoted separately by the dealer. It is also residualized so you should not pay it upront.

burzhui

that seems like a pretty good deal

deshsiny

Honda tried charging me an $750 fee when I returned the car through their 2nd tier bank, TD. I switched from TD to Honda financial, my payment went up a little bit, but not dramatically. I am basiacally paying an extra $14/month for $1,500 dings & dents coverage, free oil changes, full warranty, no fee at the end of the lease.TD did not offer any of that.

mookie14

I have a 07 accord lease that is up nxt Sept now can you trade out of your lease and buy a new honda? also will you owe for miles wear & tear i want to do this i want a 09 or 010 accord ex-l with nava is this possible. lastly does honda have a lease pull ahead program? like they will pay the last 3 pymts of the lease as long as you buy another honda thanks guys. The 09 or 010 will be a buy

CarMan@Edmunds

Hi anzuelo. 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 Honda Accord Sedan EX-L 4-cylinder without navigation with 12,000 miles per year are .00171 and 55%, respectively.

Car_man
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CarMan@Edmunds

Hello thenewlew. 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 15,000 miles per year are .00171 and 53%, respectively...assuming that you qualify for its top aka "Super Preferred" credit tier.

The money factor for an identical car with navigation is exactly the same, but the addition of that option shaves 2% off of the residual value.

When negotiating your lease on this car, make sure to take the $1,500 dealer cash that is currently available on it into account.

Car_man
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