Honda Accord Lease price EX-L

zinga1111

Hello All,

Is Honda accord EX-L 1.5 down $4000 and monthly payment of $345 correct or is it misleading?

kyfdx

zinga1111 said:

Hello All,

Is Honda accord EX-L 1.5 down $4000 and monthly payment of $345 correct or is it misleading?

What would be misleading?

zinga1111

The payment part for the accord. Sorry if I am missing anything.
Honda Accord 2019 Ex-l 2019 1.5 T
Gross capcost is 29790
Residual % 56
Residual value is 17368
MF - 0.00136

with above values I have ended up paying $4000 down and $345 montly payment for 12/36. I am under impression that I overpaid for the same.

Can you please help

zinga1111

edmunds shows the same car with same dealership for $1000 down and monthly payment of $345. By comparing this with the payment I made, I am under impression that I overpaid.

kyfdx

zinga1111 said:

The payment part for the accord. Sorry if I am missing anything.
Honda Accord 2019 Ex-l 2019 1.5 T
Gross capcost is 29790
Residual % 56
Residual value is 17368
MF - 0.00136

with above values I have ended up paying $4000 down and $345 montly payment for 12/36. I am under impression that I overpaid for the same.

Can you please help

What is the MSRP?

kyfdx

zinga1111 said:

edmunds shows the same car with same dealership for $1000 down and monthly payment of $345. By comparing this with the payment I made, I am under impression that I overpaid.

You may have negotiated a less than average deal. It happens all the time. The time to research is before you sign the paperwork.

zinga1111

what could be the best deal I can negotiate? Can you please suggest numbers. I am trying to re-negotiate with the dealer for Ex-L if not for EX

if I change lease to EX will there by any additional charges? is it a good move to change to EX from Ex-l after signing lease?

zinga1111

MSRP is 30800

kyfdx

zinga1111 said:

MSRP is 30800

Have you taken delivery?
What is your location?
What is the adjusted CAP cost?

zinga1111

Yes, I took the delivery.
Location is GA
Adjusted CAP Cost is 27587.68

zinga1111

kyfdx

zinga1111 said:

$599 doc fee and a $675 service contract.

Other than that, it's a decent deal.
$3000 off MSRP.

zinga1111

There is $675 for vehicle service contract and another $675 maintenance service contract are these optional is lease? Can these be removed or will they offer for free?

kyfdx

zinga1111 said:

There is $675 for vehicle service contract and another $675 maintenance service contract are these optional is lease? Can these be removed or will they offer for free?

Two contracts? One is for maintenance? What is the other one for?

I don't know what you can do now, if you've already signed up for it, and taken delivery.

zinga1111

One was for warranty and other was for oil change. After re-negotiation I got a discount of another $1000

They didn't remove service contract $675 and DOC Fee $599

I ended up paying with $15,335 for 12/36

kyfdx

zinga1111 said:

One was for warranty and other was for oil change. After re-negotiation I got a discount of another $1000

They didn't remove service contract $675 and DOC Fee $599

I ended up paying with $15,335 for 12/36

Why do you need a warranty on a 36K mile lease?

zinga1111

I didn't request it.. They have added without informing me . Upon requesting they have removed $675 warranty and they didn't remove $675 service contract fee.

Will companies offer maintenance like servicing and oil changes for free when we lease?

kyfdx

zinga1111 said:

I didn't request it.. They have added without informing me . Upon requesting they have removed $675 warranty and they didn't remove $675 service contract fee.

Will companies offer maintenance like servicing and oil changes for free when we lease?

No.. you have to pay for it, one way or the other.

zinga1111

Is what I pay now is considered a good deal?
Honda Accord EX-L
12/36
Down - $4345
Monthly - $314
Total Payment of $15335

How % of Car value do we have to pay in a lease to be considered at good deal?

Michaell

zinga1111 said:

Is what I pay now is considered a good deal?
Honda Accord EX-L
12/36
Down - $4345
Monthly - $314
Total Payment of $15335

How % of Car value do we have to pay in a lease to be considered at good deal?

Hard to say, do you have the MSRP and selling price?
What ZIP code?

What is the breakdown of the $4345 you paid at signing?

zinga1111

MSRP ~30800
Gross capitalized cost - 29143.67
captialized cost reduction - 2304.11
adjusted capitalized cost - 26839.56
redisual value - 17713.40 
Depreciation and any amortized value - 9126.16
rent charge - 2181
total of vase payments - 11307.24 
base monthly - 314 
———————————————-
Down payment 
capitalized cost reduction - 2304.11
1st month payment - 314.09
registration fee - 23
Doc fee - 599 
TAVT - 952
elec fielding fee - 152
————————————————-
Location: Atlanta
zip : 30346

Edmunds shows the same car for $1000 down monthly payment of 259 with same dealer. When I showed them and asked why there is lot of difference they said that it is due to taxes and fees.

Total payments will be $15335, which is almost 50% of car value. Is this same for all leases where we pay almost 50% of value for 12k miles 36 month lease?

Audi A4 advertises $339 monthly payment with 3995 down for 36 months lease. Why both are similar price range? I am missing something here.

Thanks 

zinga1111

Below is the signed paper work.

Also, what are two taxes. One is TAVT 952.80 and the other for amount 2219.80 in the bottom is this common?

Michaell

zinga1111 said:

MSRP ~30800
Gross capitalized cost - 29143.67
captialized cost reduction - 2304.11
adjusted capitalized cost - 26839.56
redisual value - 17713.40 
Depreciation and any amortized value - 9126.16
rent charge - 2181
total of vase payments - 11307.24 
base monthly - 314 
———————————————-
Down payment 
capitalized cost reduction - 2304.11
1st month payment - 314.09
registration fee - 23
Doc fee - 599 
TAVT - 952
elec fielding fee - 152
————————————————-
Location: Atlanta
zip : 30346

Edmunds shows the same car for $1000 down monthly payment of 259 with same dealer. When I showed them and asked why there is lot of difference they said that it is due to taxes and fees.

Total payments will be $15335, which is almost 50% of car value. Is this same for all leases where we pay almost 50% of value for 12k miles 36 month lease?

Audi A4 advertises $339 monthly payment with 3995 down for 36 months lease. Why both are similar price range? I am missing something here.

Thanks 

If you amortize the $4000 down payment for the A4 lease, the payment goes to $450/mo.

TAVT is the GA sales tax.

The $2219 is an estimate of all taxes and fees to be incurred during the lease, including acquisition fee, registration costs, and the sales tax.

Leasing is just an alternative to financing. You establish a known rate for the depreciation, and the term is fixed, usually at 3 years.

Michaell

zinga1111 said:

MSRP ~30800
Gross capitalized cost - 29143.67
captialized cost reduction - 2304.11
adjusted capitalized cost - 26839.56
redisual value - 17713.40 
Depreciation and any amortized value - 9126.16
rent charge - 2181
total of vase payments - 11307.24 
base monthly - 314 
———————————————-
Down payment 
capitalized cost reduction - 2304.11
1st month payment - 314.09
registration fee - 23
Doc fee - 599 
TAVT - 952
elec fielding fee - 152
————————————————-
Location: Atlanta
zip : 30346

Edmunds shows the same car for $1000 down monthly payment of 259 with same dealer. When I showed them and asked why there is lot of difference they said that it is due to taxes and fees.

Total payments will be $15335, which is almost 50% of car value. Is this same for all leases where we pay almost 50% of value for 12k miles 36 month lease?

Audi A4 advertises $339 monthly payment with 3995 down for 36 months lease. Why both are similar price range? I am missing something here.

Thanks 

I would only pay the first payment and registration costs, up front.

The down payment should be avoided - it just masks the true cost of the lease.

Add the taxes and fees into the monthly payment - the idea with a lease is to "pay as you go", not prepay anything.

99gx

zinga1111 said:

Is what I pay now is considered a good deal? Honda Accord EX-L 12/36 Down - $4345 Monthly - $314 Total Payment of $15335 How % of Car value do we have to pay in a lease to be considered at good deal?

I think that payment was very high...

$434 when you factor in all payments!!

For a Honda ex+l? 

zinga1111

Yes for Honda EXL.

what is the usual payment?

Michaell

zinga1111 said:

Yes for Honda EXL.

what is the usual payment?

There is no "usual" payment - it's about the price you negotiate and how you structure the deal.

We don't recommend any money up front besides the first payment and any registration costs.

This will make the payment higher, but you won't be at risk to lose any up front cash if the car is stolen or totaled