Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Do you currently drive a 2019 Ford Ranger and live in Michigan?
A reporter would like to talk to you; please reach out to [email protected] for more details.

2017 Honda Accord LX Manual - Lease Deal

acallaroacallaro Posts: 3
edited October 2017 in Honda
Hey Everyone,

I just received this lease deal for a 2017 Honda Accord LX Manual. I'm looking for any advice as I've never leased a car so your input is appreciated.

-Zip Code: 19341
-36 months 12k miles per year

-MSRP: $23,330
-Adjusted Cap Cost: $21,326
-Net Residual: 52% ($12,131.60)
-MF: 0.000592
-Down payment: $575...this includes 1st months payment along with title fee, license fee, registration fee and documentation fee

Monthly Payment (includes tax): $299.90

For this being a 2017 LX model and manual transmission, I think this monthly payment seems high? Has the MF been marked up?

Wanted to get everyone's thoughts and recommendations in terms of what I should come back with for a counter-offer.

Ideally, I'd like to be closer to $225/month

Comments

  • kyfdxkyfdx Posts: 120,318
    acallaro said:

    Hey Everyone,

    I just received this lease deal for a 2017 Honda Accord LX Manual. I'm looking for any advice as I've never leased a car so your input is appreciated.

    -Zip Code: 19341
    -36 months 12k miles per year

    -MSRP: $23,330
    -Adjusted Cap Cost: $21,326
    -Net Residual: 52% ($12,131.60)
    -MF: 0.000592
    -Down payment: $575...this includes 1st months payment along with title fee, license fee, registration fee and documentation fee

    Monthly Payment (includes tax): $299.90

    For this being a 2017 LX model and manual transmission, I think this monthly payment seems high? Has the MF been marked up?

    Wanted to get everyone's thoughts and recommendations in terms of what I should come back with for a counter-offer.

    Ideally, I'd like to be closer to $225/month

    The money factor is just .00059
    There are $3150 of incentives on this model

    It looks like they pushed the price up, to just get you under $300/mo. With you paying the other fees upfront, the only thing in the adjusted CAP besides the sale price is the $595 acquisition fee. Subtracting that from the adjusted CAP, we get a sale price of $20,731. That's only $2600 under MSRP on a vehicle that comes with $3150 of incentives for the dealer.

    $1500-$2000 lower selling price shouldn't be too hard to get
    That would put you in the $238-$253/mo. range, including tax.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

Sign In or Register to comment.