2013 and earlier-Honda Accord Lease Questions

davidwilp

This is in Florida and I don't have all the specifics with me now. I did want to share with everyone the deal I got in case it helps you.

2010 Accord LX. $1,966,92 out of pocket, I don't have the breakdown with me of where they appropriated this money to. I remember seeing something like $1,200 or so for cap cost. I also remember seeing on my paper they used a residual of something like 58 or more likely 61 to 62%. This $1,966.92 included 1st month, tags, title everything.

Total monthly payment for 36 months tax included is $222.98

Hope this helps someone.

(no idea how much is cap reduction etc..). Total monthly payment for 36 months tax included is $222.98

crani

Hi hope you can assist me with the lease. Im looking to lease a 2010 Accord EXL for 36 months, 1000.00 out of pocket, 15000 miles per year. Currently have
4 months left on BMW lease so will roll the 2340.00. I was quoted 466.00 including tax. I figured to be about 432 including tax. I think the money factor and residual I used was 61% and money factor of .00133. MFG is 29540 with a selling price of invoice 26837.00. Thank you for all your help.

solepole

2010 Accord LX - $145 + state tax per month for 36 months 12k miles per year
Initial down 1999, 299 doc fee, 595 acq. fee, 125 tax+registration

Here's the breakdown of that deal...

$1999/36 (months) = $55.52 a month more if no money was put down. Thus making the payment $200.52 before tax.

I know that he said that he leased it in MA. Honda Village in Newton MA is advertising a 2010 LX for $179+tax with $599 down plus fees due at signing. All the fees are the same as compared to the above quoted lease with the one exception being that Honda Village makes you pay the "destination charge" at signing (which is BS and possibly not even legal, but is besides the point for the sake of this comparison). Dest. is $710. $710/36months = $19.72 more per month (if rolled in to payment as opposed to being paid upfront). $599/36months = $16.64 more per month (again, if rolled in to payment as opposed to being paid upfront). Therefore, if the "destination fee" was rolled into the payment, and $0 was put down as opposed to the $599, you would be looking at a monthly payment before tax of $215.36. The extra $15.36 a month over the 36 month lease totals about $553. I would assume Honda Village is not advertising their Accord lease (which they specifically say they have 10 available at that price) at dealer invoice, though i may be wrong. Thus, it would make sense that they might be advertising at about $500 over invoice, in which case, the quoted lease above, which everyone seems to think is impossible, actually seems quite possible. Let me know if you think I am wrong.
My fiance and I will actually be going there tomorrow to lease her a new Accord LX, and i will let you all know if this happens to be the case or not.

thechairman1

Hi Car Man.

Looking to lease a 2010 Accord EX Sedan at 10,000 miles per year for 36 months. Can you please let me know what the current residual value and money factor is? If there is a difference in numbers with and without nav I'd appreciate it if you could let me know both.

Many thanks.

bvdj84

Do you not have any equity on the BMW? If you only have 4mths left, usually in a lease you have some equity to trade with. Otherwise, your paying way too much for the new lease and the roll over amount seems so high. I have never had troubles at that point in a lease when trading. They usually owe me credit at that point. I would see if it was a GM product, but a BMW?

htownpimp786

Car man,

Can you please give me the Residual and Money Factors on the following 2 cars? I am trying to figure out a lease for 36 months/15,000 miles.

2010 Honda Accord LX-S Automatic Coupe

2010 Honda Accord EX Automatic Coupe

Thanks!!

sirkob

i have a few questions.. im in the Bronx, NY looking to get into a Honda Accord Coupe before the end of the year.. Really looking into the EX-L (4 cylinders).. How much should i expect to be paying on a lease?.. My budget is around $350-400 for a monthly payment.. and when should i go? end or beginning of the month? does that effect the price? any advice before i go to the dealer and sign on a lease since its my first experience with buying a car.

bustedf00

Hi I was wondering if this is good deal 2dr LXS with out of pocket 700.00 and 36 month $294.99 12K miles plz let me know your input on this deal thanks

hondashpr

Herb Chambers in Seekonk, MA advertises $208 a month plus fees and tax. That seems to be close to the deal you got. Also, Boch Honda in Norwood, MA seemed to be willing to match the Herb Chambers deal. But, I didn't care for Boch salespeople and so went with Herb Chambers. Hope this helps. Good luck.

sirkob

i have a few questions.. im in the Bronx, NY looking to get into a Honda Accord Coupe before the end of the year.. Really looking into the EX-L (4 cylinders).. How much should i expect to be paying on a lease?.. My budget is around $350-400 for a monthly payment.. and when should i go? end or beginning of the month? does that effect the price? any advice before i go to the dealer and sign on a lease since its my first experience with buying a car.

bvdj84

Hello,

If you are wanting to lease an Accord Coupe, you should be well within your budget.
Start with a $0 down lease, and you shouldn't have to put anything to get the payment anyway. It is usually said to go at the end of the month. This is when dealers will want to make last minute deals to get the cars moving.

Keep in mind one dealer might be easier to work with then another. Remember you can walk away if it doesn't feel right. Sometimes driving a bit further away to get a car is better if your local dealer does not want you as a customer.

Stand your ground, research the forums here for sale prices, $0 down and watch out for added accessories. Such as $500 for a clear coat package? No! Dealers love to lock you in for them. Sometimes, acting like you don't really care for them, usually gets them to move on that car. Just be casual about it all. Go in with the mind set that its just a car. Dealers act like its a rare gem.

Bring a good friend with you, so that way your not alone, they can be your judge too. Try doing so email quote requests...Honda.com, then email all the dealers for a lease quote.

energy123

Car Man,
I plan to lease a 2010 Honda Accord Sedan EX-L by the end of November. I am looking for the money factor and residual value for a 15,000 miles, 36 month lease.

jient

Hi Car Man,

Looking to lease a EX-L with some options (deck spoiler, bluetooth, remote start) - MSRP $28912 36/mos 15k. Can you break down for me what you would consider a good price with your suggested $0 down. Please include money factor and residual so I can calculate on my own should I make changes.

Thanks!!!

sirkob

Just got back from my Local Dealer..

i am looking to lease a 2010 Honda Accord Coupe EX-L (White)

these are the figures we worked on today..
36months/12k miles for $318 per month.

They are asking me to pay $1563 up front (Taxes & First months Payment) thats what held me up from doing the deal.. do i really need to pay that upfront???? any advice and comments appreciated.. can i bring the price down some more???

corvette

You do need to pay the first month's payment upfront. Whether you need to pay the tax upfront may depend upon your state law.

peewee19547255

Hello All:
I need some input. I have a 2008 Honda Accord with just under 13,000 miles on a 36 month lease which ends next October. Now that Im retired Im seriously thinking of buying the car when the lease is up. Since it doesnt go anywhere now.
Execpt food shopping and doctor appoitments.Seeing friend, going out.
The only thing is I have some outside dammage from a tree on the hood from last winter to some paint issue plus some tree sap. On the windshield and other parts of the car. Paint issue is side door,back bumper,front bumper.
Question:
Should I buy it or turn it in and pay the dammages. Or just plain buy it. Knowing the only thing down the road will be age against it.

pickps

Best Lease deal I have gotten so far is $380.00 for 36 months with 12,000 miles per year. This is with nothing down, just first payment of $380.00. Has anyone seen and received a better deal on this vehicle?

caseyman

I got my car last month in the orlando area.
12,000/36 months

$256 a month
$2000 down included first month payment.

what do you guys think?
was it a good deal

jfwild83

The price I got on a 36/12 with just first month near Dallas, TX was $376 on an EX-L V6 the invoice price is about $300 more than the EX-L 4 cyl w/ Nav. So depending on what dealer options are on the car the $380 price seems good. I was pricing the car earlier this month and the payment was about $30 more until Honda updated their lease specials which the dealer called me back on about a week ago.

snark

Here's my lease deal that is about to expire in Feb 2010:
:shades:
I've been leasing a Honda Accords for the past nine years and really like the car, however, like so many people today, I'm trying to get a fair deal.

My current lease is about to expire and I would like to know how close you can come to what I'm paying now. I'm leasing a 2007 Accord EX-L V6 w/o navi @ 345.38 X36. This figure includes 18K yearly mileage. Additionally, I put nothing down except for inception fees which include the following:
345.38 1st Month Payment
187.50 initial registration fees
129.00 Doc fee
7.50 NJ tire fee ( weird huh?)

Total out of pocket $669.38

bsquared81

Hey Car_man,

I am in Houston TX, 77006. I am looking to lease either an Accord LX or Camry LE base for 36 months, 12,000 miles per year, whichever is stronger.

1) Do you have the December money factors and residuals for both cars?

2) I heard there is a 30 month 67% .00065 Accord lease special. Any truth to that?

3) I just finished grad school. Any perks or rebates that apply to the lease?

Thanks for all your help!

seekingmmr09

Hello, I have a 2007 Accord leather interior, etc., with 30,000 plus miles. My 3 yr. lease is up in Jan 2010. Is it a bad idea to buy it; I want to own a new car; don't think I want to lease anymore. Any advise would be helpful. What are the disadvanages to purchasing your lease.

bsquared81

hey seekingmmr,

when you buy your lease, you are essentially buying a used car from your leasing company. check and see what your residual value is. that will be your "selling price". honda finance will not negotiate that price (almost without exception). from that figure, you will have to add your local sales taxes (when you leased your new car, you were only charged taxes on the portion you were leasing). you will also have to pay titling and license fees, and depending on your state, you may need to get new license plates. i believe you will need to complete this transaction at any honda dealership. they will likely charge you some type of documentation/service charge because they get no other incentive to complete this transaction.

the good thing with leasing honda's is that honda finance usually has great residuals. the downside of that is it usually makes buying out the lease less attractive. so, check your residual and compare that to other 07 accord ex-l with 30k. i'm sure you will pay a little premium for the piece of mind of buying your own car. but don't overpay for your own car.

wtalbot

Wow its hard to believe that my lease is about to terminate from this writing way back when. Just to give you guys an update because its an awesome story. I did trade that truck in and was 6k upside down. Two months later my wife totaled the car and it was paid off!!! She the got a 2d ex-l for cheaper than she was paying for that one....

hatebuyingcars

Dec 3rd: I got the following lease in WA state (9.6% taxes) on an Accord EX w/o leather or NAV 36/12K lease

361 including taxes /month
No money down
First month and 300 in fees and licensing paid at time of lease
Trade in 2007 accord with 21K miles

sluurrpee

Hi Car_man,

Can you please post the MF and residual % for an Accord Coupe EX-L, 2009 & 2010?
36 month/36k miles
Are there any incentives or attractive lease terms that should be considered?

Thanks!

sluurrpee

Hi All,

Looking for some feedback on a quote I have in Colorado:
2010 Accord EX-L Coupe Auto - 4cyl
MSRP: $27590
Selling price: $25,350
Invoice per Edmunds: $25,074
Residual: 57%
Money factor: .00133
3yr/36k miles

Is there an acquisition fee? I am getting conflicting info from different dealers.

Thanks!

wp_nightmare

I understand how leasing works and how to get my lease price with knowing the MF and residual. Although when it comes time to pay at the dealership what should I only be paying for upfront? I know that I have to pay the first months payment of course, but do I have to pay the taxes to and that's it? I understand how to get the price, it's just I'm not sure what to pay for and what not. Thanks for the help because I will be leasing a car within a week or 2.

CarMan@Edmunds

Hi thechairman1. 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 base 2010 Honda Accord Sedan EX 4-cylinder with 12,000 miles per year are .00133 and 61%, respectively.

The addition of leather knocks two points off of this car's residual and the addition of navigation knocks another two points off. I don't believe that Honda Finance offers 10,000 mile per year leases on Honda division vehicles, but if it does, its residual values for them would likely be 1% higher.

Car_man
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CarMan@Edmunds

Here you go. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Coupe LX-S with 15,000 miles per year are .00083 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The numbers for an otherwise identical lease of a base 2010 Accord Coupe EX 4cylinder are .00133 and 57%.

Car_man
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CarMan@Edmunds

Hi sirkob. This car's lease payment will vary depending upon the selling price that you are able to negotiate on it. For now I can work up a sample lease payment on you assuming a selling price of $500 over invoice to give you an idea of how much you should pay.

According to my calculations, if you were to lease a 2010 Honda Accord Sedan EX-L 4-cylinder without navigation that has an MSRP of $26,740 and a selling price of $24,806 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $319.

As you can see, even once tax is added to this payment it's well within your budget.

Car_man
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CarMan@Edmunds

Hello energy123. 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 2010 Accord Sedan EX-L 4-cylinder without navigation with 15,000 miles per year are .00133 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Car_man
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CarMan@Edmunds

I'd be happy to help you out, jient. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Sedan EX-L 4-cylinder without navigation with 15,000 miles per year are .00133 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Let's use this program to work up a payment on this car and see what we come up with. According to my calculations, if you were to lease a 2010 Accord Sedan EX-L 4-cylinder that has an MSRP of $26,740 and a selling price of $24,806 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $319.

I didn't add the additional options that you are interested in to this car's selling price because I don't know if they can be residualized. If they can't, then you would have to pay for them in their entirety over the course of your lease, i.e. add their cost divided by 36 to your monthly payment.

Car_man
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CarMan@Edmunds

Hi bsquared81. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Sedan LX with 12,000 miles per year are .00083 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Toyota's lease program for the Camry varies by region. You reside in its Gulf States area. Vehicles there are sold through an independent distributor. Unfortunately, I have not seen the lease program that it uses lately.

Toyota has special $1,000 cash incentive on the Camry in your area right now for recent graduates (including those from grad school), but Honda does have any specials for grads.

Car_man
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CarMan@Edmunds

Hey sluurrpee. 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 2010 Honda Accord Coupe EX-L 4-cylinder without navigation with 12,000 miles per year are .00133 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Honda is not currently providing any cash incentives on the 2010 Accord, but it does have $1,500 dealer cash on leftover 2009 4-cylinder models. Having said that, Honda is not providing lease support on the '09 Accord any longer. As a result, if you were to lease one through Honda Finance right now you would have to use its standard lease program. I haven't crunched the numbers, but chances are that even with this cash you would be better off going with a lease of a 2010 model.

Car_man
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CarMan@Edmunds

Hey sluurrpee. This looks like a very good deal to me. Not only is the money factor that you were quoted right in line with Honda Finance's current buy rate for this model, but its selling price appears to be only around $300 or so over dealer invoice. If you like the car, I don't see any reason not to pull the trigger on this deal.

As far as the acquisition fee goes, Honda Finance charges a $595 fee on every vehicle that it leases. You can either pay this fee at lease signing or roll it into your car's capitalized cost to make it part of your monthly payment.

Car_man
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CarMan@Edmunds

Hi wp_nightmare. At signing Honda Finance requires that lessees pay their vehicle's first month's payment, a $595 acquisition fee, any capitalized cost reduction that they are wish to pay (this should be $0), and any state taxes or fees that are required (this varies from state to state). One can usually roll the acquisition fee and any other taxes or fees into their vehicle's capitalized cost to make it part of their monthly payment rather than paying them at signing if they want.

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hollywood53

Hey car man why does this money factor keep popping up .00083 is this model specific or term mileage specific?

peter_griffin

Hi All,

Does anyone know the money factor and residuals for a 15,000 mile, 30month lease for a 2010 Accord LX-P and EX (automatic transmission)

I'm assuming it's the same .00083 money factor, just not sure of the residuals on a 30 month lease...

Thanks,

wp_nightmare

Thank you car man for the answer

wp_nightmare

I'm looking to lease a 2010 honda accord coupe ex. What is the Residual and Money Factor of the car?

vs77

Hi

Can someone tell me if they are still leasing the 2009 models? would that be a better deal compared to 2010 model? I am looking to lease an accord with 0 down for less than $250? is that possible? in that case - what model am i looking for and what shold be MF and residual while negotiating. can you help? I do need a 4dr car.

thanks in advance

apocalypso

Hi Car Man, could you post money factor and residual for an Accord EX-L V6 for 36 months/ 15K miles? (no Navi)

Thanks!

houdini33

hi all,

I was hoping to get some help on leasing an 4 door EX 4-cylinder auto accord. So far, I have simply requested quotes from a handful a dealers in the area. The pricing I've recieved so far has looked pretty good, under invoice as far as I can tell. The lowest I've recieved so far is $21.331 plus tax, tags, etc.

First question - I did not mention a word about leasing when requesting a quote. Is it possible that this price includes cash incentives that do not apply to leasing?

Second question - Assuming no, can Carman or someone help me calculate the lease payments for a 36mo 15k/year lease. Here is the info:

MSRP - $24630
Destination - $710
Acquisition - $595
Sales price (does not include destination, acq, or other fees): $21331

I'm in VA, so I believe tax is 3% if that helps as well. I've done the calculations myself, assuming the mf is .00133 and the residual 59% (can someone confirm if these are correct?), and I end up with a zero down payment of $249 per month, which can't be right (seems too low?).

Any help with the above would be greatly appreciated!

bvdj84

You should be at or around $299-319 with tax.

houdini33

Thank you for the reply! Can you help explain a little more? How did you come up with $299 - $319? I'm trying to calculate using the numbers I listed in my example, but I'm coming up at $249, so I know I'm doing something wrong, I'm just trying to figure out what lol.

houdini33

I just figured out the mistake in my math. I was using 59% residual, rather than 57%.

jerseyguy7

Can someone post a link or simply put the formula for calculating lease payment:

Guessing something like:

[(Invoice - Residual) x interest rate (ie money factor)]/ lease term

Thanks

houdini33

Here is what I have been using to calculate a lease. Works really well.

http://www.leaseguide.com/calc.htm

hollywood53

Leaseguide is great if you are sitting at home and playing with numbers.

But wont help you if you are in the dealer, here is exactly what leaseguide or any lease calculating program does

The formula is Cap ( the finalized selling price) minus the residual ( providing you have the proper %) than divide that by the terms ( amount of months) that gives you the depriciated amount.

Next is the cost of money or interest portion

Cap plus residual times the money factor = the interest part

Add both together for your monthly payment

This will come in handy if you are sitting in the dealer and the car switches or the terms mileage etc, you can recaculate the lease yourself on the spot just bring a adding machine and paper.

Now you want to roll in your taxes and bank fee, this you can approximate with near accuracy,
Take the monthly payment and mutiply by your tax rate

Ex) 305 a month X 8% = 24.40
24.40X 36 months = 878.40

Take the 878.40 plus bank fee $ 595= 1473.40 divide that by the terms(36)=40.93 add that to the original monthly payment than add 5 to 10 dollars for additional interest cause in essence you are financing those dollars

Memorize this program so that when you are in the finance office dont let them sell you aftersales items on a so much per month basis Ex. the alarm is only $495.00 but he tells you it is only 19.98 per month in accuallity chargeing you $700.00 negotiate the selling price for each item you decide on and the take the total amount and add it to the original cap and refigure the lease yourself on the spot.

Also may I state that when a lot of you are looking for help make sure you are specific on models equipt, mileage terms etc

Hope this helps all of you and feel free to pass this along as you see fit to help others even if you tell them to see this post number etc.

Happy Holidays