2013 and earlier-Honda Accord Lease Questions

gasnet · February 2008

what about tax? is the 2000 just cap cost reduction?

bjgw66 · February 2008

if you haven't allready signed the papers..... DO IT! those seem to be legit #'s, and there is no way my MGR would approve that deal. You shoul be able to lease the EX-L V6 for close to the same price as a 4cyl EX-L Navi. Just an FYI..

bvdj84 · February 2008

Hey,

So ya, I got another dealer telling me that they will lease the car for $25,560 EX-L 4cyl, Navigation, at $312 a month for 36mth, 12k a year, now is this good? Really should I do this deal....?? Or should I wait, because it can only get better from now on....If I lease a EX-L without navi for $23,403 than I will pay about $280 a month....
What do you think? Which model should I get ?

Now, remember, I do have to put down 2k... What do you think about that as well, I know its a bit on a lease, but the payment is what I want.

Let me know

This dealer told me $200 under invoice, and made them give me their sale price in the email!

bjgw66 · February 2008

The dealership that I work for would never allow me to sell a new car below invoice, that's the point that I am really trying to make here. My questions to you; would you be happy in that lease? are you happy with your sales person? would you buy from them again and again? do you think that sales person will expect you to buy from them again? what do you stand to lose over a couple hundred dollar better deal from another dealership?

the way I do my job is along those same kinds of questions... sure I could sell lots of cars at right around invoice and keep selling cars for along time, but the customers I love to have come in are the ones who come in and say "hey ben, i was hoping you were still in today, my daughter needs a new civic... here is what we thought was a good price to pay; what do you think?" and when somone brings me a real and honest offer, I sometimes say some stupid line like, "well you offer is close, but... I am going to have to give you a free oil change with it..." it makes for sooo much easier and more enjoyable experiance for everyone the next time. there is so much information out there today that you all know what the Dealers pay for the cars from the MFG's its not tought to find out; just buy the car you want. but before you buy it... make sure you are buying it from some you;
A. Know.
B. Like.
C. Trust.

If you know a salesman, buy a car from him/her...(unless you don't like/trust them) they really will not do you wrong.

dwynne · February 2008

A bunch of salesperson crap-o-la, if you ask me.

I am not looking to marry a car salesperson, just get a good deal. I almost never use the selling dealer for service since I buy where I get the best deal, not the closest. In most dealerships, the folks you work with today will not even be working there in a few weeks or months, much less when you need another car. I might pay more to saving some driving to go get a good deal, I would not pay more just because I got a car from the same dealership previously. I always have all the numbers worked out long before I set foot in a dealership to buy, I just show up, test drive, check the paperwork, sign, and leave. No haggling, no "give me a little lower price", etc. If someone can't give me all the numbers long before I get to the dealership, then I don't bother to go. If someone tries to change the numbers at the dealership, I just leave.

Deal down to invoice or below including dealer fees and destination and less known dealer incentives then lease at the buy rate. Pretty simple formula and it does not take knowing anyone or anything else to get. Yes, the dealer can make money on hold back and other incentives we may not know about, but if your price is at or below invoice less incentives then you have a nice deal.

Leasing an Accord now is not a good move. It has been posted over and over that the current 0.00255 MF is just too high. So if you want a new Accord you will either pay too much for the lease or will need to wait until AHFC offers better rates or check out a 3rd party lease. The more folks that pick the just wait option, the quicker everyone will get better lease deals.

Dennis

aurelios · February 2008

Sounds great to me! I'm after the same car: 2008 EX-L 4 cylinder, no Navi... was offered $315. a month (tax included - I'm based in NYC), w/$2000. total down. Was your deal including tax? If so, would you mind letting me know where you were to get this deal?? Thanks!
Aurelio
(e) asisto_alt@yahoo.com

according2u06 · February 2008

I am no lease expert but it seems like a pretty good deal based on the deals I've seen on this board and what my local dealers offer. One of my local dealer offers $260/ month, 36mo with $2000 down on an 2008 LX sedan, so your deal is A LOT better. Have you thought about purchasing the car instead if you drive 20k miles a year? It seems purchase is a better option for you.

bvdj84 · February 2008

I was able to get a deal for $288 on an EX-L with no navigation, they used invoice on the car though. $316 with navigation.

Mine was with taxes included.

mstylady · February 2008

Where are you located bvdj84?

mookie14 · February 2008

I have a 07 Accord and the lease ends in 2010 now i am in the south and i am leaving in april to go north now the dealer i bought from told me this. Quote me i am going north and it snows as everyone knows i want a ridgeline so she said do not take it back when the lease ends trade out. Is this true??? now other stuff well i lost my job and my crdit went to hell and but when it comes time to get another auto i will have a good pymt history since all this went down. Which it did in nov 07 so when i get to the north in april i wll get all of them caught up and on time so what will happen guys bull crap or the truth!!!! Ps as far as pymt history with honda flawless point blank if that matters car credit before all of this was and is very good if this helps.

kyfdx · February 2008

You are stuck with the lease until the end of the term..

If you don't follow the terms of the contract, it will be very bad for your credit.. The dealer sold your car to the bank, who rents it to you.. They can't take the car back, because it isn't their car, any more..

sfnsfn · February 2008

Does anybody know the residual value percentage for 24 and/or 36 month leases? Also, what's the money factor you've been quoted?

Thanks.

steevo · February 2008

TO reiterate on the Lease issue. Just as an example, the MF Honda is offering on the Accord is DOUBLE what Nissan has on the Altima.
That will cost you 50 dollars per month extra, on average, depending on model.
Thats just the Money Factor. Altmas are now also being discounted deeper below MSRP making these deals horrible.
I am Not pushing the Nissan over the Honda, just pointing out that it is not smart to Lease a 2008 Accord .. Yet.

gasnet · February 2008

The numbers don't jive. Not a real deal. You don't have all the data!!!!!

gasnet · February 2008

I agree, MF horrible. The Accord is nice but so is the Altima.Love the rear, dual exhaust even 4cyl.The best i could do on a EX-L V6 is $365 36mo 15k no money down just tax and 1st upfront.Rent charge almost $4000. I passed and now have a Acura TL $390mo same terms.The rent charge is only $830.
Buy an Accord but DO NOT LEASE!!!!!!!!!! Goodbye Honda

jaxs1 · February 2008

If you want VSC without having to buy a top end V6, the Altima is not a valid option.
Same with Camry in California.

steevo · February 2008

You are not paying attention and have completely missed the point. If you really want an Accord, BUY it. The leases are not competitive. If you must lease, there are great deals on TL leases and on ALtima leases.
But to play your game, what in the world is VSC, or what is it that you think it is that makes the Accord worth 50 dollars or more a month over an Altima?

sfnsfn · February 2008

I understand what you're saying, but I would like to know the MF you're basing your statement on so that I'll know if it's different from what my local Honda dealers are quoting me.

(Some background information my deal...I leased a Pilot last month and got a .000204 MF. A couple of days ago I emailed my saleperson and asked about possibly leasing an Accord. He's responded but hasn't sent me a quote yet. I want to be prepared when he does.)

bvdj84 · February 2008

Well, the Pilot and Accord are 2 separate leases, so there lease rates will be different. I got quotes about 1 week ago on the accord, and they were okay, but I know that soon, I will be able to do better. There isnt any support on the accord.
Thanks to awesome people like you, I am able to know what is good, and what is not.

I am sure your dealer cannot do any better than what Honda has given them as far as lease rates, now some dealers will try to bump it up some.

If you want the accord lease, then wait... I am.
Dealers can get mad at me, because I get quotes often, but as a consumer, I can do that.. and when I do a deal, I will be so prepared.

Honda better step their game up, because they'll lose people, even the loyalists.

mookie14 · February 2008

What if I simply want to trade it in for another Honda close to the end of my term? Am I really still stuck with it? Can't I use it as collateral?

gasnet · February 2008

I think vcs is traction control.Like you really need this on a 4cyl. What a dope this guy is. I,m with you find the best lease deals on many cars then choose from that list. Its the smart choice. Honda thinks there [non-permissible content removed] dont stink

bvdj84 · February 2008

It works like this, especially with honda.

As long as your pay off is equal or less than your trade in value, than you will be just fine. The condition, mileage of the car will also determine this trade value. With honda, you typically do not have to worry about value, but if it is early in your term, than you could be upside down, and if you did trade, you would have to add that negative equity to your new car. I was able to trade my 06 accord last August, and at the point I only had my car for 1yr and 8mths. My lease is 36mth. So that is very good, but I kept it, I still have the 06. I am going to trade for the 08 Accord this spring, and is still not the end of my term til Jan09. I am in good shape though, as far as trade value versus trade value. I am able to walk away from the 06. So wait awhile if your too early in your term.

You will only have collateral is the very best of conditions. It is the very end of your term, you have exact mileage or low mileage, your payoff is much lower than your trade, also depends on the current market as well.

You could try selling it, or transfer the lease to someone.

jl17 · February 2008

Hi everyone.

I'd like some advice/opinions on this deal I worked out the other day.

2008 Accord EX coupe
$1600 down which is just taxes, bank fee, and all that basic stuff.
$285 a month

Does this sound good? I just feel like I need more opinions before I go for it.

Thanks so much.

bvdj84 · February 2008

I got a quote for an EX-L sedan for $288 with 2k down. I think your fairly on target. What was the selling price, probably not as good as the sedan. I think it is a good deal for the lease not being supported right now. If you are happy with the deal, then go for it... Not everyone is going to wait for better lease rates, and doesn't mean the deals are bad, but perhaps not as good as they could be. For what it is, I think its a pretty good deal.

Have fun with your new car! What color are you wanting....

I am thinking I want the mystic green for my sedan... I am really liking it, because it unique and classy.... so who know what color I will get. it looks more unique than the other bland colors.

jl17 · February 2008

Thanks for responding. My notes are in the other room, but I believe the selling price is $23,500. I feel pretty good about it, but I would like to work it out to a little bit lower of a monthly payment. I think I will be able to. I am going to go back sometime this week. I'm going to be getting black with black interior. I'm very excited for it, hopefully they can get one in by the end of the week. I just can't wait for the spring time to really enjoy it. Unfortunately I can't wait until the rates get better, my current lease is up and I've actually already extended it, so its time to get a new one asap.
Good luck with your new car too! Let me know what color you end up with. The green is beautiful, and rare, which I love. Thats probably why I love the 2 door Accord, I rarely see them on the roads, which I know will change, but for the time being, its nice to have such a new and not so popular car. My other option was the Altima Coupe, but I see about 3 of them a day, and they are already starting to get kinda old. haha

imscf · February 2008

Huntington Honda in Huntington, Long Island, NY, is again offering the 2008 Accord EX/4 for 239/month, 0 down payments and 0 bank fees. I got myself the same exact lease on Dec. 31 (I turned down after-lease offer of dealer-installed options) , and now it is again offering the same deal, as advertised in this weekend LI Newsday newspapers. I just paid taxes and first-month payment + title/registration fees.

jaxs1 · February 2008

You listed payments without saying how many months and how many miles.
What are the full terms? Is it only 10,000 miles a year for that payment?
What's special about that particular dealer? Isn't there a national lease program where any dealer should be able to lease for the same rate?

jaxs1 · February 2008

VSC is vehicle stability control and it helps to prevent accidents. It does not make an Accord lease worth $50 per month more than an Altima, but it makes the 4 cylinder Altima not worth considering for me since it doesn't have it.
I suppose I might be able to get a loaded Altima V6 with VSC for around the same lease payment as a 4 cylinder Accord, but then I would be spending a lot more on gas and insurance.
Someone posted that Accord lease rates have now dropped, but I don't see any sign of that.

bvdj84 · February 2008

Okay, Where are we getting the information that supports that the lease rates have changed, or dropped making deals better? Let us all know, others and myself are waiting for this to happen... Thanks.

imscf · February 2008

The deal at Huntington Honda for the Accord EX/4 is for 10K/year for 32 months. $0 down payments, $0 security deposit, $0 bank fees. It is a good deal, obviously, if you do not drive significantly more than 10K/year. For me, as I am retired and do not have to drive to work, it was obviously and excellent deal.
After I leased on Dec. 31, the terms changed to include $1,995 down payments. So now they have gone back to $0 down payment.

jaxs1 · February 2008

I said I didn't see any sign of it. So, maybe the person was confused.

steevo · February 2008

I see. I knew what it was but I wasnt sure if you meant that or VCM. Honda calls stability/traction VSA. Nissan divides it between TCS and VDC. I doubt there is enough torque to make it necessary with the 4 but as a safety feature I suppose its better to have it than not.
Keep in mind the gas probably will cost you an extra 300 dollars a year, on average. Since it is a lease you can figure it exactly by dividing into your allowed miles.
Either way, dont sell yourself short. You can be driving a lot of car for 350 a month, no reason to limit yourself. I am not a dealer but unless you HAVE to lease this car now, you will be kicking yourself in April.

bvdj84 · February 2008

That is exactly right... Many don't realize that you can usually get more car for the money on a lease, if you are willing to do the research, you will see exactly what you can really get for the money. Many think oh, well I'll lease the lx accord, because that is all I can afford, but when really with some effort you could go up a few in trim and be just fine.

sfnsfn · February 2008

I've been offered a 36 month, zero out of pocket, 12k miles per year lease for $396/month (EXL sedan). I'm in Texas so this includes full ttl.

Is this a good deal? I was hoping for a lower payment.

bvdj84 · February 2008

Yep, this deal is too high, even my dealer, being a tight dealership and not willing to deal, they offered $370 for the same deal. Even that is a little high. Yep, you can get a lower payment within reason, but remember, lease rates are steep, and not supported. That impacts your payment alot!

What was your sale price, I was able to get $200 under invoice.

I did not do a deal, because I know that soon, I will be able to do better. Read earlier posts, people are not getting that good of a deal, only when they are purchasing the car through a loan. If you don't need a car right now, then wait, I am. Otherwise that is a little steep, Were talking est.. $23k-+ for $396, that is high! Look at the competitors, and you will see how their deals really make this look bad.

Good Luck.

donaldoadams · February 2008

This was my deal on Saturday.

2008 Accord EX
Total Downpayment: 2899.000
15k miles
36 month lease
Residual Value:14,941.95
Payment: 279.00 Month

Its $40 dollars a month over thier advertised special.

Keep in mind I didn't pay tax, title and doc approx $1531.00

Also got 3k extra miles a year.

Anyone think I could have done better?

donaldoadams · February 2008

This deal cannot be true.....

There is no way they are giving a payment of $239 for an EX with no money down.

bvdj84 · February 2008

I stated in an earlier post that I can get an EX-L for around $288 with 2,000 down, now this was 12k miles a year.
Read other posts. They will explain and answer alot of questions for you.

I would have researched a bit longer if you honestly needed this car now.
This deal is no deal, its not too good. There was alot of money involved in this lease, which defeats the whole purpose of a lease.

donaldoadams · February 2008

I went to approx 5 dealerships here in the Chicago land area.

None that would touch that deal.

Payments for an EXL4dr were in the 315-320 range with $2899 down.

If you only put 2k down on a the car you still have almost $1800 in taxes and docs fees.

I don't see how they can get the payment down to 288.00 a month for an EXL based on the pricing MSRP 25,060. Even if you get the car for 2k under list your still looking at 23,060 plus taxes.

Also factor my 9k additional miles over the lease term.

I Understand that I put a lot down and that goes against traditional leasing wisdom.

However, I was using the Honda advertised special as a baseline.

I have seen some good deals on this forum but some of them don't seem realistic based on what I have seen in the real world.

What should I be paying monthly based on my down payment.

The advertised special for an EX is 239.00 with 12k miles and 2899 down.

steevo · February 2008

Go browse the Nissan Altima and Toyota Camry Lease forums and prices paid forums. You will find that Nissan has MF at around 3% for sedans, Toyota is at about 1.5% or less. Both cars are easy invoice deals, some buyers getting well below invoice.
Honda will have to offer special lease and finance deals soon to keep up. Wait, or negotiate the price aggressively using the competition to your advantage.

fox1021 · February 2008

I bought my car last month. I got a 2008 Accord Sedan EX-L with 15K per year. I put no money down and did not have to pay until Feb. My deal was $346/mo-$371 with taxes. I thought it was pretty good. I needed it then and kept going back to them. I actually turned in my old accord and payed my last payment in Nov.-so I got two month free. It is a good car for the price! What do you think?

honlvr · February 2008

I recently leased a 08 exl 6 w/nav in a hard to find diamond pearl met. 48 month w/ 0 money out of pocket for 395.00 a month.I love the car and get complements on it wherever I go. 12000 miles per yr.does this sound good.The dealer originally quoted me 480/month, till they found out i was test driving a toyota that very min.I did the deal on the phone. msrp was 30,800$ for that money I feel I got alot of car for the money. I love it!!

bvdj84 · February 2008

That is excellent for the payment, you got the loaded accord! Great deal!

Slowly were getting there, just wait til the deals start arriving, it'll be even more exciting! I think dealers are losing their grip a little bit.

imscf · February 2008

It is true: Accord EX-4 at Huntington Honda for $239/month, $0 down, $0 bank fees, $0 security, 10K/miles/year. I made the deal on Dec. 31 for 32 months, they even gave me a thankfull of gas, roses for the wife, and free first oil change. They have the deal again, for 42 months. Check it out for yourself:
http://www.huntingtonhondacars.com/ad.asp

foxhoundme · February 2008

Hello,

This is the same vehicle I was looking for the past two months. The color combination is very hard to find. Polish Metal Metallic with Black Interior EX-L V6 with Navigation. Where did you get your deal? Provide location, and dealership name. What was your money factor, residual % and cap cost? I am located in North Carolina.

gasnet · February 2008

This is not a good deal. $400 mo just 12k and 48mo are you crazy??? 4 years $400mo for an Accord. Think about what your doing.The warranty will expire and you will still be driving this. Go see an Acura dealer or an Infiniti dealer. $410mo for a loaded TL 36mo. G35x loaded $440mo 24mo. Also 50k warranty. Not to mention both cars are not a honda accord. Stay away from a 48mo lease.Bad Deal. Buy the Honda but don't lease. Tell me your rent charge and i'll show you why this deal SUCKS.

gasnet · February 2008

Lets all not forget this deal is 42mo 10k. Park in the driveway and look at it for 42 months. Do a real deal 15k 36mo. See how the numbers change. Anyone want to buy a Bridge?

gasnet · February 2008

In this Economy most people are leasing at 3% or lower.Also under invoice. Why would you pay 6% at over invoice. Do any of you people own a calculator? Honda is not what it used to be.Most have caught up. Don't pay Acura & Infiniti prices for a Honda.

steevo · February 2008

48 month leases are never a good deal. Residual is too low. Low residual + high Cap Cost = bad lease.

bvdj84 · February 2008

I am in a similar boat, I have an 06, but I am over my mileage, but not the actual lease time, Expiration is Jan09. I about 7k over my mileage of where I should be at this time, I can only have 36k, I already have 31k. So, the dealer did tell me, that brings down my trade in value since I did use the mileage sooner than expected and that I was in good shape.

You are okay to go ahead look at other cars, start by emailing many dealers and work on deals through them, work on a good sale price, start with $0 down. That way when it feels good, then you can take the quotes and go in and sign.

Also definitely leave out the trade until you are confident in the deal. Then that way you may look at the whole deal realistically. Dealers get all wishy washy when you through that in the mix right away.

You may leave this brand to another, they simply will look at your trade value, and the pay off. Now, I have found that if I stay with Honda, I'll more than likely get more for the honda trade than go to another brand and trade... but that is not always true.

Many times, they are pretty willing to get you out of your lease, considering your only 6mths way, and get you into another lease, its just another trade, When I went to evaluate my 06 accord as a trade, they were all over me, trying to get me out, though my mileage is off, they kept making me feel comfortable that I was fine, and I am lucky I drive a Honda, and it has so much value. But, definitely explore other options out there.

It really isn't that complicated, just get the quotes via email through the dealerships, than work through that, research the best sale price, lease rates!!, and of course research that car. and you'll be just fine. Just knowing all of this will help you know what is right and what is wrong.

Good Luck, and keep us posted.

2013 and earlier-Honda Accord Lease Questions

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