2013 and earlier-Honda Accord Lease Questions

dzebra

I have been negotiating price for Honda accord sedan EX-L V-6 with navigation, and the best price before today was 27,650. This translated into a lease price of 395/month 36 month12k miles per year with $1050.00 at signing (includes fees and mv). Tax included. Price shopped today and got monthly cost down to $365, same $1050.00 at signing. Not sure if I can get price any lower. Comments and advice appreciated.

soxfan7

Accord LX-P - 36 mths / 36,000 Mi ; TTL down, $ 223.00 per month (incl. tax) .... Jump at the deal ??

CarMan@Edmunds

You're very welcome SergeyM.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

itaddict

Amazing deal - did it actually happen or did dealer BS on these numbers?

if you did get it, please let me know - i'm in NJ. I would jump on this if i found it.

mga_driver

Car_Man,

I find your contributions here to always be extraordinarily helpful.

Could you please furnish the Honda Finance "Super Preferred" lease terms for 36 months and 12,0000 miles per year on 2011 Accord SE through what appears to be July 5th?

nephrodoc1

In the market for Accord Sedan EX-L V6. Got some quotes for $26.8-27.3K

Looking for residuals and MF for 36 months and 15K miles per year. Thanks

godawgs729

Hi all. I'm new to leasing a car and here's my current situation. Any help would be appreciated. I'm currently leasing an '09 Civic and my lease is up one year from July. I'm way over my 12k mile limit, so I contacted Honda to see if I had any options, rather than paying a large fee at the end of my lease. I'm greatly overpaying with my current Civic lease ($1000 down and $312/month).

After an hour of negotiating and the dealership giving me terrible options, I got it down to turning in my current car, leasing a 2011 Accord LX for three years, no $ down, $312/month. At first I thought it was ok, but the more I think about it -- I'd like to get the lease in the $250 range. Is this likely? When I called in this morning he made it sound like there was no chance, but I think eventually they'll budge. I made him break down the numbers (listed below) and this is what I need help with.

MSRP - $22,730
Cap Cost - $22,533.40. This is how he broke it down...invoice price $20,886. He claims the my base cap cost is $19,336 ($1,500 under invoice price) but then added $3394 for bank acq, registration, plates, window tint, first months payment -- totaling the $22,533.40.
Residual Value - 58%
Money Factor - .00077
Sales Tax - close to 8%

After adding everything (including tax) it came to almost exactly $312/month. Do I have any wiggle room with lowering the cap cost to closer to the $20,886 invoice price in order to lower my monthly payments. Also, the invoice price that he gave me seems a bit high. Hopefully this makes sense and any help would be greatly appreciated!!!!

CarMan@Edmunds

Thanks mga_driver. Here you go.

Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Honda Accord Sedan SE with 12,000 miles per year are .00077 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

When negotiating your deal on this car, make sure to take advantage of the $750 dealer cash that is currently available on it.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi nephrodoc1. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V6 with 15,000 miles per year are .00077 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Honda is providing a $1,500 cash incentive on Accord V6 models this month.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi godawgs729. For someone who has never leased before, you did a good job at getting all of the information that you need to evaluate this deal. The two most important numbers, other than the monthly payment of course, are probably this car's selling price and its money factor. A selling price of $1,500 under invoice is excellent and the money factor that you mentioned is right on the money. I don't know how much money the dealer is adding to the attractive selling price for each item that you mentioned, but make sure that they aren't adding more than $595 for Honda's acquisition fee. Dealers occasionally try to mark that fee up. The only other place that I can think of that you might have some wiggle room is possibly the price of the tint. It's tough to say because I don't know exactly how much the dealer is charging you for it.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

nephrodoc

I see no mention of the cash incentive for V6 models on the Honda website?

stvitusdance

Car_man:

Any idea what FICO meets the "Super Preferred" Credit Tier?

rhaz

Hi Car Man,

I am looking for the June lease numbers for 2011 Accord EX-L V4 NAVI and NO NAVI Respectively.
36 months 12k miles.

Thanks!

dancingdiva

Been shopping for a lease or maybe a buy of a 2011 Accord EX-L V-6 with NAVI for my Mom. Her car is coming off lease. My Mom is new to this area so Navi would be important to her. The dealers in my area are pricy and only one fessed up to a dealer's incentive - albeit incorrectly as $750. I insisted that on a V-6 Accord it was $1500 but they denied that and asked for proof. Where is that published? I thought I found it on the honda site but now it is gone.

I finally got them to $300 under invoice. But if there is a $1500 incentive, they make $1200 - which in my opinion is way too much. What would be a good purchase price for this car and what would be a good lease price for 36 mos/12,000mi with $0 down? I know you are supposed to negotiate the price first and I think my Mom wants to lease another Accord. The dealers give me weird numbers for the money factor and depreciation and then they seem to work the lease off of a higher price. This is my first time negotiating a lease so I am lost in space and would really appreciate some help.

I am in Southeastern CT and could also shop in Westchester County of NY. Tri-State prices are ridiculous.

BTW, would it make sense to extend the lease til the 2012 cars come out - the issue would be if there is a warranty on the extention?

Thanks in advance for your help!

CarMan@Edmunds

Hey stvitusdance. I believe that it is somewhere in the low 700s, like 720 or so, but I'm not 100% positive.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi rhaz. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L 4-cylinder with Navigation and 12,000 miles per year are .00077 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The money factor for the non-nav version of this car is the same, but the residual value would be 56%.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi dancingdiva. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

You're already half way there if you've negotiated a selling price that you're comfortable with. Just make sure that the dealer is using that price to calculate your payment.

Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V-6 with 12,000 miles per year are .00077 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

dancingdiva

Thanks Car_Man for the advice.

Just wondering about negotiating the price. I read here that there is a $1500 dealer incentive for an Accord V-6 til July 5th but I cannot find it on the Honda sites. The dealers do not want to even discuss it with me and say there is no dealer incentive now so I cannot use it to bargain. That would be surprising since it is toward the end of the year and I would think the Factory would give the Dealers some cash for the depreciation of a year end car. The prices without the incentive are still to high I think. Where might I find this dealer incentive of $1500?

Thanks so much for your help. It's nice to have this place to come to for some advice.

djdez

Are the money factors and residuals the same for the coupe? Looking for numbers for a 2011 Accord Coupe EX-L 4 cylinder, 36 months, 12k miles ...

Thanks Car_man!

dancingdiva

Would anyone know what the incentives are for a Honda Accord EX-L V-6 with Navigation. I thought I read that some of you got a $1500 incentive expiring soon to work with on a 6 cyl Accord but I can't find it.

Could you please let me know ASAP as the lease is running out and I need to negotiate a new one with that added information. Also any feedback on prices for a BUY and on a LEASE for that vehicle. How much are you all paying for a car configured this way?

Thanks for your help!

dancingdiva

Well I finally had to finalize a deal for my Mom's new lease and without the info I gleaned from this list I don't think I would have even been close.

We came up with less than she paid on her lease three years ago, which had no Nav in it. She is thrilled! Picked up her shiny new 2011 Honda Accord EX-L 6 cyl with Navigation today. The dealer had to swap a car for the color and leather she wanted even though every other dealer said they couldn't get it. The bottom line was about $1400 under invoice, $379 a month (includes the tax), first month free and just the transfer of the registration and tire fee ($12 - req. in NYS) down. It was her first Nav system and we spent an hour driving around playing with it!

I appreciate your help! Thanks a bunch!

marbetd77

Dancingdiva- great deal! Did you have to put anything down?

dancingdiva

Thanks! Nothing down except for the transfer of the plates and motor vehicle fees and a $12 mandatory tire disposal fee. The first month of the lease was paid for as a loyalty bonus since the expiring leased car was turned in at the same time.

CarMan@Edmunds

No problem dancingdiva. What you heard is correct, through July 5th Honda was providing a total of $1,500 in dealer cash on 2011 Accord V6 models. Dealer Cash is not something that manufacturers typically advertise, so I'm not surprised that you haven't seen it mentioned anywhere on Honda's site. Any dealer that tells you otherwise is lying to you.

Honda is scheduled to introduce its new July incentives some time tomorrow. It's difficult to say what they will be like, but please feel free to check back with me later this week and I will be happy to provide you with an update.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi djdez. Through July 5th (today) Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Coupe EX-L 4-cylinder with 12,000 miles per year were .00077 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

As I mentioned, Honda is scheduled to introduce a new lease program some time tomorrow. Please feel free to check back with me in a day or two and I will be glad to give you an update on what the new program is like.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

postytsx

Car_man,

Can you tell me what Honda Finance's July buy rate lease money factor and residual value is for a 36 month lease of a 2011 Accord Coupe EX-L 6-cylinder with Navigation and 10,000 or 12,000 miles per year?

Thanks!
PostTSX

riccy8

car_man & kyfdx, i could really use your help or anyone who might be able to help me. I am looking to lease a honda accord ex-l I4 With nav or without. I have been to a bunch of dealers in NY and with $0 down except first month payment, 15k Miles a year 36 months i am getting around $450/ Month for with nav and around $350 without which i think both are a little far off from where i want to be which is $275-$325 i know it could be done but need to find the right dealer who wants to move their inventory. am i asking for a miracle? what is the right approach and what is the area i should try to get my monthly payment for this car with or without nav...? Thank you please help

postytsx

Replying to my own message, but still hoping Car_man might be able to validate the MF and Residual on this model, or others might be able to comment on the deal:

I took a trip to one of the local Honda dealers today. Was presented the following offer on a 2011 Accord Coupe EX-L 6-cylinder with Navigation:

Cap Cost: $28,400
Residual: $16,154
Money Factor: .00049

They are buying out my 2009 TSX Tech MT Black/Black with 20,100 miles on it. I think there is at least $1500 - $2000 in equity available on the TSX to work with. My payout on the TSX is $21,400, and KBB lists it for $24,425 for a "Good" condition Trade-in value, or $26,625 for Private Sale.

PostyTSX

CarMan@Edmunds

I'd be happy to help you out, PostTSX. Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Coupe EX V6 with Navigation and 12,000 miles per year are .00049 and 51%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi riccy8. Normally I would say that you should shoot for $500 or so over dealer invoice minus the available dealer cash incentives on this car, but inventory may still be a little tight on it in some areas as a result of the Japanese quake.

If I was in the market for an Accord right now, I personally would shop around with several dealers in my area. Chances are that one of them will have enough inventory that they will be willing to cut you a good deal.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

woauto

Hello all...

Thanks in advance for your help.

I am looking to lease a 2011 Honda Accord SE

The "internet price" at bellhonda.com in Phoenix AZ is $24,700

I have a credit score of 658 and an monthly income of $4120. I have been at my job for 3 years.

I understand the there is a set money factor and residual for the "Super Preferred" credit tier people. But I know I'm not in that group.

What would be a fair residual and money factor ?

cad14

Hello Car_man

Looking for best numbers on 2011 Accord Sedan EX-L 4-cylinder (Lease 3yr. 12K per year).
Possible to get the numbers Selling price, Money Factor, Residual value.

Thanks.

PF

stone23

Dancing...Curious to know what you wound up settling on the purchase price of the car?

CarMan@Edmunds

Hello cad14. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L 4-cylinder with 12,000 miles per year are .00049 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Honda is currently providing a $750 dealer cash incentive on leases of this car. If I was in the market for one, I personally would shoot for a selling price of a couple hundred dollars over invoice minus the dealer cash. The problem is that Honda is the manufacturer that was hurt the worst by the Japanese quake. Some Honda dealers have as little as 10 Day's Supply of vehicles in stock, so Honda dealers might not be that anxious to deal until inventory returns to more normal levels later this year.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

car_lessee

I just returned from a honda dealership and was about to get a really good deal when the sales guy mentioned that HFS(Honda Financial Services) requires atleast 5 years of credit history and 5 open credit accounts. Can anyone tell how true is that? As, another honda dealer had mentioned earlier that HFS requires 3 years of history and 3 open credit accounts? I have been in the US for only about 4 years, so i really can't have a 5 yr history..

delta737h

Ask 5 different car dealers the same question and you'll likely get 5 different answers. Welcome to America the Great where greed, deception, deflection, and incompetence reign supreme.

John
The AutoLeaseGeek

neelsky

Hi there, i have lease offer from Fremont Dealer for the Honda 2011 LX
with the following terms. Please advice if these are good or can be better. i would like a higher model but this seems to be the best on offer.

Model LX AT @ $20,988
Annual mileage 12k

Option 1
cash due : $613 for signoff
$269/month for 36 months tax included

Option2
cash due : $1672 for signoff
$239/month for 36 months tax included

Residual Value given is $13,316

dorothysol

Hi,

My lease for my 2009 Honda Accord LX ends Sept. 16th. I want to do a lease extension since I'm not sure whether I will be moving to Manhattan within the next 6 months, and don't want a car there. I've been approved by Honda for purchase of the vehicle, which I first thought I would do, but don't want to make any decisions until I know where I will be living.

What fees, if any, does Honda charge for extending the lease? Can I do it month by month, for 3 months at a time or for six months? Are there any other fees or taxes involved and will my payment remain the same? I'm trying to discover what is entailed before contacting Honda Financial.

Thanks,

Dorothy

car_lessee

go on to automobiles.honda.com and see the lease options available there..I just got a 2011 Honda Accord EX with 2000 down and for 236/month including taxes etc..If you go on to that website, you can see LX is available for (199+taxes)/month. The dealers don't mention this until you tell them you want this deal as it is on honda's website.

525i04

I am looking at leasing a 2011 Honda Accord V6 EXL. A local dealer quoted me $315/month for 12k miles a year for 36 months. I would have to put $0 down. 3% NC taxes, upfront doc fees, and any other fees are all rolled into the lease. Any assistance will be greatly appreciated.

neelsky

Thanks for the info. I do know about that offer

CarMan@Edmunds

Hi Dorothy. While I don't know for certain whether Honda is currently allowing consumers to do this, several times in the past I have extended a Honda Finance lease from month to month at the same payment for several months without any problem. Six months is quite a while though. The only way you can find out for certain whether they will let you go that long is to give Honda Finance a call directly and see what they say.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

budsdad

Car Man Please help,
Could I please get the Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2012 Honda Accord with 15,000 miles per year. How much do these vary between the LX and SE models? Do you know the extra mile charges both prepaid and end of the lease? Thank You

525i04

Carman,
Can you let me know if these deals/numbers are good/make sense?
Dealer 1. 2011 EXL V6, Sale price $27,180, Residual $17,202.06, MF 0.00040, sales tax in NC 3%, truly 0 down and monthly $340 (36 months, 12k miles/yr)
Dealer 2. 2011 EXL V6, Sale price, $27,436, Residual 53%, MF 0.00040, monthly $367 with truly 0 down.

When I enter the numbers on a leasing calculator, I get around $303/month. Any help would be appreciated?

CarMan@Edmunds

I certainly can budsdad. Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2012 Honda Accord Sedan LX with 15,000 miles per year are .00050 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The numbers for an otherwise identical lease of a '12 Accord Sedan SE with 15,000 miles per year are .00050 and 58%.

I believe that Honda Finance charges an excess mileage penalty of $0.15 per mile, less than that when purchased at lease signing.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi 525i04. The money factors that you were quoted look good. I believe that the dealer invoice price of this car is $27,620, so the selling prices that you were quoted are right around dealer invoice, which would be great...if the dealer was subtracting the $1,500 dealer cash incentive that is available on this car from that. If not, then you're paying around $1,500 over, which is probably too much. I personally would shoot for more along the lines of $500 over.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

ohjack79

You might want to check out Truecar. They have really good deal for your car in NC. It includes a price protection certificate that makes the process haggle free, so its worth exploring. Hope this helps. Good Luck!

1. The 2011 Honda Accord Sedan EXL V6

TrueCar Price: $25,866.
http://www.truecar.com/prices-new/honda/accord-sedan-pricing/2011/FE4B224A/?zipc- - - - ode=27606

Average Price: $29,412
Sticker Price: $30,400.

2. 2011 Honda Accord Coupe EXL V6

TrueCar Price: $26,140
http://www.truecar.com/prices-new/honda/accord-coupe-pricing/2011/C5A33812/?zipc- - - - ode=27606

Average Price: $29,372
Sticker Price: $30,700.

zcarzcar

you may check the website carshen.com which is a combination of truecar.com and carwoo.com providing the bidding system and true transaction price. I got one through the dealers there but still waiting for their $100 FREE gift though. They said it is on the way.

vish_dc

Carman,

I have just started to look at either buying/leasing a new Honda Accord LX. I saw on Honda's website that there is an offer for $0 down and $250 per month for 35 months. Generally speaking, is this a good offer which I should accept? And is it negotiable? The numbers I got when using a calculator were in the $300-350 range per month for a $21K sale price, so I'm assuming this deal is good. But I would like to know if I'm missing anything or if there is anything to look out for?

Also, in terms of leasing vs. buying, my total payments for leasing the car is $8750 and the buyout price is $13770, for a total of $22520. If I purchase the car using Honda's 1.9% APR for 60 months, the total of payments for a $21K sale price is around $21,960. Based on this I am leaning towards leasing because the cost differential is not too large and it gives me the option to either buy/return the car. Does this sound right and what are your thoughts?

Lastly, if I do go the purchase route, what is a good price to pay for a standard Accord LX with an MSRP of $22,950.

Thanks.

budsdad

Thanks for the helpful info. I was surprised both trim levels had the same numbers.