2013 and earlier-Honda Accord Lease Questions

rbcooper

Hi zzazz - sounds really good - may I ask what was the amount you paid (or will pay)
out the door?

hondaguy30

Hi gator00si,

What was your agreed upon purchase price including destination?

Thanks.

cbk125

Hello:

Can someone advise what is a good lease deal on a 2010 Accord EX-L V6, No Navigation, 36 month lease, 15K miles per year, MSRP=$29,815?

I understand Honda is running loyalty incentives. Does anyone have information to conifrm? I currently lease a Pilot and am looking for an Accord EX-L, V6 and looking to keep the dealers honest. I live in PA.

Thanks!!!!

azbriank

Hello,

Does anyone have the latest residual/MF's for the coupes?

Specifically 36/48 for LX-S & EX 4cyl 5spd?

CarMan@Edmunds

Hi cbk125. Honda is indeed currently providing cash incentives on the 2010 Accord. Specifically, it has $750 dealer cash on Accord V6 models right now.

Let's work up a sample lease payment on this car for you and see what we come up with. According to my calculations, if you were to lease a 2010 Honda Accord EX-L V6 without navigation that has an MSRP of $27,515 and a selling price of $24,756 ($500 over invoice after taking the dealer cash into account) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $328...assuming that you qualify for its top credit tier.

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CarMan@Edmunds

Hello azbriank. 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 Coupe LX-S with 15,000 miles per year are .00132 and 56%, respectively assuming that you qualify for its top aka "Super Preferred" credit tier.

The numbers for an otherwise identical lease of a 2010 Accord Coupe EX 4-cylinder are .00132 and 56%.

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cbk125

Thanks Car_man.

I am looking at an EX-L V6 with MSRP=$29,815 which includes destination charge. Can you advise based on this car?

Also, I heard that HOnda has doubled the cash to the dealer. Is this true?
What about any additional Honda Loyalty rebates?

Regards,
Chad

yolie912

Hi,
I am also trying to lease this car tomorrow
I went yesterday and they told me 798 sign and drive out the door and
$358 tax included on EX L V6...what do you think???
Thanks

cbk125

Sounds like a good deal. Where are you leasing it from? State?

rhard49

I've got a sign and drive offer including tax;s and aquisition free rolled into the cost 36 months 12k miles 340.16 1st month and plates at drive off. I'm looking for 325 like the deal I had on my 2007 when I leased it.

yolie912

I am from Florida...So should I go ahead and go for it?
Thanks

CarMan@Edmunds

No problem Chad. According to my calculations, if you were to lease a 2010 Honda Accord EX-L V6 without navigation that has an MSRP of $29,105 and a selling price of $25,875 ($500 over invoice after taking the dealer cash and bonus cash into account) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $330...again assuming that you qualify for its top credit tier.

I know that Honda introduced $500 bonus cash on top of its originally announced dealer cash. Last month it doubled its dealer cash for loyal customers, but I don't believe that it extended that offer into February. I'll have to double check.

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azbriank

Thanks CarMan!

One last question, How about the EX V6 Coupe (6spd variant if its any different).

Thanks again, and I too would love to know about that extra $500 'bonus cash'!

gator62

Hi Car man!

I have a 2007 EXL-V6 that goes off lease on March 8, 2010. I have already had it inspeced for return. I intend to lease another one at the end of lease. What has been, in your opinion, Honda's stand on money factor, residuals, dealer cash, etc after March 1? Could it be wiser, in your opinion, to go ahead and lease the new vehicle in February and turn the 2007 back in around March 8? I realize this is all speculation but would appreciate your professional opinion. Many thanks.

gator62

Wondered what dealer gave you this offer. I am also inn Florida (Daytona area).
Thanks

kwarengi

Hello CarMan,
My quesion is about timing. Lease on our Acura TL ends in April and this time I think about leasing Accord EX-L V6 without Navi. I consult with this Forum for a lot of years and noticed that money factor is not as good in April or March as in December and sometimes in January. I hope that year might be different, as auto companies try to capitalise on Toyota's difficulties.
Anyway, the question is, should I move with all my leasing to December or January, to be able to structure a better deals, from your experience?
Thank you in advance.

gator00si

"$798 sign and drive" doesnt make any sense considering "sign and drive" usually means $0 due at signing (no out of pocket costs; everything rolled into payment)

gator00si

LOL "sign and drive" mean $0 due at signing (no out of pocket costs; everything rolled into payment). Your deal your looking at about $740 for first month and registration fees up front which is not a "sign n' drive" offer. The sales guys use this term very loosely which consfuses some buyers.

mang1

Guys,
I have about 1 month before I have to turn my 2007 Accord SE back in. I am looking into leasing a 2010 Accord LX-P but it's been a while since I've been in "the game" sort of speak. I haven't got the 07 inspected yet. Should I wait till maturity date is up or is it ok the try and lease new vehicle now? What's the advantages or dissadvantages of this??? Also I don't have to much info on the new vehicle other than payment. Could someone help me with that. THANKS in advance. What additional info would I need to help me with this deal?

2010 Honda Accord LX-P Auto $238.00/MO Includes MA sales Tax
36 Months
12,000 Mi/Year
*$0 1'st Mo payment
*$0 Bank/Acq Fee
*$0 Sec Dep
*$0 Initial Reg/Plate Fees
*$0 Cap Cost Reduction
*$0 Advanced Payments

mang1

Guys,
I have about 1 month before I have to turn my 2007 Accord SE back in. I am looking into leasing a 2010 Accord LX-P but it's been a while since I've been in "the game" sort of speak. I haven't got the 07 inspected yet. Should I wait till maturity date is up or is it ok the try and lease new vehicle now? What's the advantages or dissadvantages of this??? Also I don't have to much info on the new vehicle other than payment. Could someone help me with that. THANKS in advance. What additional info would I need to help me with this deal?

2010 Honda Accord LX-P Auto $238.00/MO Includes MA sales Tax
1'st Payment INCLUDED!!!!!!!!!!!!!!!!!!
36 Months
12,000 Mi/Year
*$0 1'st Mo payment
*$0 Bank/Acq Fee
*$0 Sec Dep
*$0 Initial Reg/Plate Fees
*$0 Cap Cost Reduction
*$0 Advanced Payments

NEW INFO*
MSRP $23,565
Selling price $18,987
Cap Cost Reduction 0
Residual Value 60%
Money factor .00132

migraine

I just entered into a new 2010 lease of an accord before I had my 2007 accord inspected. I also live in MA. I just dropped off the car at the dealership, called Honda Finance and told them the dealer's name and the name of the person I gave the keys to, and the dealership took care of the rest.

As for the new vehicle, I received a lot of GREAT info from this forum. I also did a lot of research online, looking at the true cost of the car; I found that at truecar.com. I then went to the honda website and asked various dealers to send me a quote. This simplified things dramatically, as I was able to obtain a lot of quotes and do my initial bargaining online. I printed out all of my emails with the lowest quotes and then went to the dealer. I also created a spreadsheet on excel with my various quotes and my goal price in order to make sure that the figures that showed up on the lease sheet that I would sign were correct. I was glad that I had this because the finance guy made a mistake that I was able to catch because of my spreadsheet. You can also download a free spreadsheet at carbuyingtips.com.

From what I have learned, first focus on the sales price of the car; try to get the lowest sales price possible and then tell them you are interested in leasing. Through this process, I was able to get an accord for $5,000 less than MSRP and about $500 less than the published dealer's cost.

Good luck with your search!

benji123

Got this offer on a 2010 Accord Sedan EX-L 4-Cyl (No Navigation) in SoCal. Good deal?

$758 drive off
36 months, 12k miles
Payment: $293+tax

victor23

Not sure you can roll first month in. My understanding is, you must pay your 1st month upon signing.

This being said, there is actually no point not to pay 1st month and some nominal taxes and fees upfront. Only if one does it for sport.

benji123

Offer lowered to $288 per month. Any opinions?

jillp9267

Hi,
I am on my second lease with Honda Financial Services and this lease will end in 6 months this summer I have a 2007 Honda Accord, 22,000 miles, and buyout will be about $14,000. I am concerned because since I obtained this latest lease my credit score has gone down from about 675 to 600 due to high utilization. I have no negatives on my credit report at all except the utilization problem (about 85%) due to some cards lowering limits and having to charge medical expenses.
I would like to finance the purchase buyout through Honda Financial. Is it possible they could deny the financing of the buyout? Has anyone had that happen? Would it be worth it to extend the lease for a while until I can get my utilization down and score up? And what is involved with extending?
Thanks for any info or advice!!

bvdj84

I am not sure. We would think they would want to keep you. Most people are going to have a little bit worse of credit now days. People still need financing. If you were in good standing with them. You probably have no issue to worry about. You overall available amount you could finance is probably lower now. But, sometimes they do deny. But, check out exactly what their reasoning is.

You need to check your score, get to know your information. Call Honda directly and investigate all your options. Play it cool, you would like to buy out your car lease today.

You could extend your lease, but for how long.... I am not sure.

10sfan

AHF considers themselves as a third party lender. You have to re apply through an authorized Honda dealer to finance off lease and be subject to the loan underwriting rules in force. You could also try to finance through a credit union, as they have lower market rates. However, an established good track record of on time payments with AHF will help. AHF is only concerned about receiving the payoff amount/residual value upon lease termination.
Usually the lease extension is offered no more than twice for up to 12 months total with no less than a 3 month lease extension period.

jillp9267

Thank you for the info. What is involved with an extension? Do you have to go into the dealership or is it something done over the phone?
Thanks,
Jill

jillp9267

Thank you for the info. What is involved with an extension? Do you have to go into the dealership or is it something done over the phone?
Thanks,
Jill

jillp9267

Thank you for the info. I just broke down and bought my Transunion FICO. Shockingly, it is 692 (does Honda still check Transunion?). I had last checked True Credit a couple of months ago and it appears it was way off. According to FICO the only thing that is labeled as "Bad" is amount of debt. All the other factors are "Very Good" or "Great". So does that mean I have less to worry about? Will Honda Financial go by score only? And again, will they use Transunion FICO?

gator00si

You absolutely can roll EVERYTHING into the payment. I've leased 4 vehicles through Honda Finance and have never had to bring my checkbook to the dealership upon drive-off.

victor23

Jill:
You better call to Honda Financial directly and ask everything. Usually they are pretty helpful.

About lease extension:
Please correct me if I am wrong, but when I asked Honda 3 years ago, what I understood was that you can extend it as you wish, even monthly, and I think some people in this thread actually did that.

azbriank

Any updates on the $500 extra dealer cash CarMan?

rhard49

I'm on my second extension, call honda finance you can extend twice each time selecting a length of time 1 month 3 months your choice up to 2 years max. There may be tax's due depending if your state collects tax's up front. In NY they do. I could extend for a period of time pay the tax's up front and payments as per the original schedule with no penalty except the tax's up front if I selected say 6 months then wanted to return it in two months. NY always has its hand in your pocket.

However trying to buy it at the end of my lease was a nightmare Honda would give you decent financing if you certified it through a dealer, but every dealer wanted 1k-2k to certify it, The situation trying to buy out my lease turned me off. this is my last honda

CarMan@Edmunds

No problem, azbriank. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Coupe EX V6 with 15,000 miles per year are .00132 and 52%.

Right now there is a total of $1,250 in cash incentives on this car, $750 dealer cash and a $500 bonus.

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CarMan@Edmunds

Hi gator62. As you already seem to be aware, Honda's February lease program is scheduled to expire on March 1st. It's difficult to say what its incentives will be like next month. If I had to make an educated guess, I would say that Honda's March lease program will be fairly similar to its current one.

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CarMan@Edmunds

Hi kwarengi. Manufacturers' December incentives definitely tend to be stronger than what is available on cars in the months immediately preceding and following it. However, January's programs usually tend to be fairly weak. There's nothing wrong with trying to shift your lease schedule to coincide with the excellent year-end deals that manufacturers often offer.

I've found that if one is flexible about the vehicle that they lease, there's almost always a good deal going on out there in any given month so I don't worry about when I lease as much as what I lease.

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CarMan@Edmunds

Hey azbriank. The $500 definitely exists. It is available on top of the $750 to $900 dealer cash that Honda is providing on the Accord.

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ctal1234

I want to thank everyone here for all the helpful information. I've been hanging around for about three weeks and leased an EX-L (no nav) last Saturday. I don't have the paperwork in front of me, but the basics are:
36 mo.
12k miles/year
monthly payment: $282.80 including TTL and $2000 trade in on a 1998 civic.

Maybe not an amazing deal, but I wanted to get the selling price in the mid 24s before trade and they were willing so I went with it. I'd been driving that civic WAY too long.

jewele888

I am about to enter in my 3rd lease with an Accord Coupe. I would've picked up the car today if it wasn't for the snow in NJ.

I am getting $500 down, $309/month 15k miles a year out the door (all fees included). Is this a good deal?

isles1

Just leased the following in New York:

Accord LX
36 Months
12K miles per year
$595 bank fee
Agreed selling price: $18,595
Residual: $13,539
$0 down
First month, dmv/tags at signing
$220 per month (including NY taxes and bank fee)

This looks to be a 72.8% residual. What am I missing? I do not think I am that good of a negotiator.

Otherwise, my payment appears to be in line with the money factor posted by car_man on Feb. 1, 2010.

kyfdx

The residual is a percentage of the MSRP, not the price you pay...

That looks like a great deal to me.. What is the actual due at signing number?

isles1

$514.50 at signing. 1st month pymt ($220) plus registration, plates and NY state tire fee.

MSRP is the sticker? If so, MSRP $22,565. $13,529 / $22,565 = 60%. I guess that makes more sense

kyfdx

Yup.. that's it..

Looks like a great deal!

isles1

Thanks for the feedback.

yealken

I bought the same thing 3 yrs ago. Guess what, they don't give you a single cent if any of your damage is more than $500 even if the maximum warranty is "UPTO $5000". Total nonsense contract. Honda already has $1500 for wear and tear warranty for lease cars. I got cheated by SafeLease(safeguard inc.) program. Even if you already bought it, try a refund if not too late.

glenmetz

I just read back about 5 or 6 pages or so. Thanks for the good info. I'm still waiting to see the March incentives/lease deals, but if something good comes along I'll probably move pretty quickly. Here is the current status.

Have $1000 down, but am upside down on current car loan about $3k (depending on how much I can pull on my trade). Am I better off negotiating price, trade-in value, then letting them know I am leasing. I believe I'd be approved for Honda top tier financing (TU and EQ FICO's around 720). I know exactly what car I want, an EX 4 cyl. I just want to deal with one dealership if I can and walk away with the best deal possible. Thanks for your help all.

kerb

Greetings Car Man:

Could you kindly provide the rate factor and residual for a 36 month/10k mile lease. Additionally, are there any incentives? Lastly, what is the holdback percentage and is it calculated on the base msrp or total msrp?

Thanks.

glenmetz

Also, does anyone know the dealer invoice price on Honda Remote starter? Its the only accessory I want added to my car.

gator62

Thank you for the reply and information. I decided to wait and turn in the 2007 Accord on March 5. Would appreciate knowing the March lease incentives from Honda when you learn what they are. We are looking for a 2010 Accord EXL-V6 lease for 36 months and either 12,000 miles or 15,000 miles depending on what the offers are. Thanks again.