2019 Honda Accord Lease Payments

dskny330

I'm looking for a 2019 Honda Accord Touring Hybrid in zip code 11530 and getting some crazy lease prices for a sign and drive 36/12. Some prices are close to $600 with most around $535. Did get one offer for $480. Know the other forum has the MF, residual, incentives, etc but does not have what people actually paid - hoping this forum can achieve that.

Michaell

dskny330 said:

I'm looking for a 2019 Honda Accord Touring Hybrid in zip code 11530 and getting some crazy lease prices for a sign and drive 36/12. Some prices are close to $600 with most around $535. Did get one offer for $480. Know the other forum has the MF, residual, incentives, etc but does not have what people actually paid - hoping this forum can achieve that.

The lease program on the Hybrid is not nearly as good as on the gas version. Those payment quotes look to be in line with what I've seen.

CBeaz

I got an offer to lease 2019 Honda Accord EX in New York:

$320/m
$0 down payment; only first month + DMV.
10k miles
36/m

Is this a good deal?

Michaell

CBeaz said:

I got an offer to lease 2019 Honda Accord EX in New York:

$320/m
$0 down payment; only first month + DMV.
10k miles
36/m

Is this a good deal?

MSRP?
Selling price?
Adjusted cap cost, with taxes and fees added in?

CBeaz

Sorry, don’t have selling price or adjusted cap cost. I may have to ask dealer. Yes, taxes and fees already included in $320 monthly payment. Can’t tell if this is good deal without selling price and adj cap cost?

Thank you Michaell

Michaell

CBeaz said:

Sorry, don’t have selling price or adjusted cap cost. I may have to ask dealer. Yes, taxes and fees already included in $320 monthly payment. Can’t tell if this is good deal without selling price and adj cap cost?

Thank you Michaell

No, we can't. Need to see the whole picture before we can comment.

CBeaz

Michael,

These are the details:

MSRP: $28,515
Sale price: $24,625
Gross cap cost: $28,515
Money factor: 0.00136
Sales tax: $1,022.40 (in payment)
Residual value: 59%

I questioned why gross cap cost ends up being the same as MSRP and was told because I didn't make any down payment. That still doesn't make any sense to me. What am I missing? Good deal or something's off? Using those numbers, what should the monthly payment be?

Thanks in advance.

kyfdx

CBeaz said:

Michael,

These are the details:

MSRP: $28,515
Sale price: $24,625
Gross cap cost: $28,515
Money factor: 0.00136
Sales tax: $1,022.40 (in payment)
Residual value: 59%

I questioned why gross cap cost ends up being the same as MSRP and was told because I didn't make any down payment. That still doesn't make any sense to me. What am I missing? Good deal or something's off? Using those numbers, what should the monthly payment be?

Thanks in advance.

You are correct. That makes no sense. Especially that it would be exactly the same number.

$24625
+$595 acq.fee
+$1022 tax
+75 doc fee
+$200 NY DMV fees

= $26,517 Gross CAP (and adjusted CAP, if you are only going to make first payment at signing)

I get $328/mo, with $328 due at signing.

If we pull out DMV, it looks like their quote is right on the money. They just haven't figured out how to relay the correct numbers to you.

Seems like a reasonable deal, given the lease program.

CBeaz

Look at the full breakdown in the attached PDF. I can’t figure out where they got the “Original Taxable Base” amount and the “Tax Subtotal” amount using NYC tax rate of 8.875%.

Michaell

CBeaz said:

Look at the full breakdown in the attached PDF. I can’t figure out where they got the “Original Taxable Base” amount and the “Tax Subtotal” amount using NYC tax rate of 8.875%.

The original taxable base is the sum of the payments and taxable fees, and the tax subtotal is …. well, it's not 8.875% of that number (I get $927.64).

So, I'm off by $90. Ask the dealer and see what they say.

CBeaz

Will sure do. Thank you. Since there’s currently a loyal customer incentive of $750 and I am for sure a loyal customer, wasn’t the dealer supposed to apply at least some of it, if not all, as cap cost reduction? Or they can just use that money to reduce the MSRP and arrive at lower selling price? Same question about current $300 dealer incentive.

kyfdx

CBeaz said:

Will sure do. Thank you. Since there’s currently a loyal customer incentive of $750 and I am for sure a loyal customer, wasn’t the dealer supposed to apply at least some of it, if not all, as cap cost reduction? Or they can just use that money to reduce the MSRP and arrive at lower selling price? Same question about current $300 dealer incentive.

In NY, if you capitalize the tax, you end up paying tax on the tax.
Better to pay it upfront.
(to check it: add the tax amount to the taxable base, then apply tax).

The $300 dealer incentive is Honda-to-dealer money. Nothing to subtract.

You should ask about loyalty. I don't see it in your deal
(nor, can I confirm that incentive)

CBeaz

I haven’t gotten an answer from dealer yet regarding $750 loyalty incentive. My question is, if that really exists, where are they supposed to apply it, to the MSPR to get a lower selling price or to the gross cap cost so that I get an adjusted cap cost?

Also, if all stays as is ($320/m 1st pmt and DMV only), is this a good deal for this car or am I likely to get a monthly payment of $300 or less if I continue to wait until next month? I have to return car in April so I still have entire month of March. Current car is a 2016 Accord EX-L with about 21k miles. I’m assuming there’s some equity in it the dealer could benefit from if they buy it.

Your help is much appreciated.

kyfdx

CBeaz said:

I haven’t gotten an answer from dealer yet regarding $750 loyalty incentive. My question is, if that really exists, where are they supposed to apply it, to the MSPR to get a lower selling price or to the gross cap cost so that I get an adjusted cap cost?

Also, if all stays as is ($320/m 1st pmt and DMV only), is this a good deal for this car or am I likely to get a monthly payment of $300 or less if I continue to wait until next month? I have to return car in April so I still have entire month of March. Current car is a 2016 Accord EX-L with about 21k miles. I’m assuming there’s some equity in it the dealer could benefit from if they buy it.

Your help is much appreciated.

If it's a consumer incentive, it's applied as a CAP cost reduction.

If your lease isn't up until April, I certainly wouldn't lease a car in February.

CBeaz

Is it realistic to expect to pay $300/m or less with $0 and only DMV in NY by waiting until next month though? I have no idea and would love your input. Again, this deal is for the 2019 Accord EX, 36m, 10k m/y. If I can get it for $300/m or less by waiting to negotiate in March, I’d definitely wait.

Thanks again.

kyfdx

CBeaz said:

Is it realistic to expect to pay $300/m or less with $0 and only DMV in NY by waiting until next month though? I have no idea and would love your input. Again, this deal is for the 2019 Accord EX, 36m, 10k m/y. If I can get it for $300/m or less by waiting to negotiate in March, I’d definitely wait.

Thanks again.

I have no idea, either.

But, if you trade out of your car now, you are likely eating the last two payments, and receiving no benefit. So, even if the price is the same in April, you've saved money

99gx

CBeaz said:

Is it realistic to expect to pay $300/m or less with $0 and only DMV in NY by waiting until next month though? I have no idea and would love your input. Again, this deal is for the 2019 Accord EX, 36m, 10k m/y. If I can get it for $300/m or less by waiting to negotiate in March, I’d definitely wait. Thanks again.

I picked a Touring 1.5 Accord for under $300 and they bought back a few lease payments on my previous lease .. people have told me how much of an incredible deal I got which I know because I have seen some driving an LX accord for $300 a month !! 

CBeaz

Some clarification. My lease ends beginning of April but I have no payment left in April. March is my last payment. So it’s only 1 payment which the dealer said they’ll pick up. Am I still potentially saving by waiting?

I also got a quote of $305/m $0 down and only DMV on 2018 Sport 2.0T. Would this be better than 2019 EX at $320/m? What’s the residual value and money factor on 2018 Sport 2.0T

kyfdx

CBeaz said:

Some clarification. My lease ends beginning of April but I have no payment left in April. March is my last payment. So it’s only 1 payment which the dealer said they’ll pick up. Am I still potentially saving by waiting?

I also got a quote of $305/m $0 down and only DMV on 2018 Sport 2.0T. Would this be better than 2019 EX at $320/m? What’s the residual value and money factor on 2018 Sport 2.0T

the dealer said they’ll pick up

Money out of the dealer's pocket actually comes out of your pocket. That's just the way it is.

No one can decide which trim is a better value, other than you. Look at the equipment and decide what you have to have.

2018 model lease information can be requested, here:
https://forums.edmunds.com/discussion/48615/honda/accord/2018-honda-accord-lease-deals-and-prices#latest

Darkhawk62

Hello can I get the MF and RV and incentives for a Accord Hybrid Touring 36/12 in 60098.

Thanks

Michaell

Darkhawk62 said:

Hello can I get the MF and RV and incentives for a Accord Hybrid Touring 36/12 in 60098.

Thanks

.00240 and 55%
No lease incentives

DoctorRey

Can I please have numbers for Honda Accord 2019 touring. RV , MF and any incentive 
zip 11554

snowballs

Please share the RV, MF, Incentive, etc for 2019 Honda Accord EX, 36/12 84003. Thanks

Michaell

DoctorRey said:

Can I please have numbers for Honda Accord 2019 touring. RV , MF and any incentive 
zip 11554

.00118 MF
$300 incentive
52% residual

Michaell

snowballs said:

Please share the RV, MF, Incentive, etc for 2019 Honda Accord EX, 36/12 84003. Thanks

.00180 MF
$300 incentive
57% residual