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2013 and earlier-Honda Accord Lease Questions
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24 and 36 month----12000 and 15000 miles.
Thanks.
24 mo/15k mi – Residual Value 64% of MSRP – .00076 Base Money Factor Rate
36 mo/15k mi – Residual Value 55% of MSRP – .00076 Base Money Factor Rate
48 mo/15k mi – Residual Value 45% of MSRP – .00250 Base Money Factor Rate
60 mo/15k mi – Residual Value 34% of MSRP – .00440 Base Money Factor Rate
24 mo/12k mi – Residual Value 65% of MSRP – .00076 Base Money Factor Rate
36 mo/12k mi – Residual Value 57% of MSRP – .00076 Base Money Factor Rate
48 mo/12k mi – Residual Value 47% of MSRP – .00250 Base Money Factor Rate
2006 Honda Accord 2dr Coupe EX-L
24 mo/15k mi – Residual Value 64% of MSRP – .00076 Base Money Factor Rate
36 mo/15k mi – Residual Value 55% of MSRP – .00076 Base Money Factor Rate
48 mo/15k mi – Residual Value 45% of MSRP – .00250 Base Money Factor Rate
60 mo/15k mi – Residual Value 34% of MSRP – .00440 Base Money Factor Rate
24 mo/12k mi – Residual Value 65% of MSRP – .00076 Base Money Factor Rate
36 mo/12k mi – Residual Value 57% of MSRP – .00076 Base Money Factor Rate
48 mo/12k mi – Residual Value 47% of MSRP – .00250 Base Money Factor Rate
2006 Honda Accord 2dr Coupe EX-L (V6)
24 mo/15k mi – Residual Value 64% of MSRP – .00076 Base Money Factor Rate
36 mo/15k mi – Residual Value 55% of MSRP – .00076 Base Money Factor Rate
48 mo/15k mi – Residual Value 45% of MSRP – .00250 Base Money Factor Rate
60 mo/15k mi – Residual Value 34% of MSRP – .00440 Base Money Factor Rate
24 mo/12k mi – Residual Value 65% of MSRP – .00076 Base Money Factor Rate
36 mo/12k mi – Residual Value 57% of MSRP – .00076 Base Money Factor Rate
48 mo/12k mi – Residual Value 47% of MSRP – .00250 Base Money Factor Rate
2006 Honda Accord 2dr Coupe EX-L w/ Navigation
24 mo/15k mi – Residual Value 61% of MSRP – .00076 Base Money Factor Rate
36 mo/15k mi – Residual Value 52% of MSRP – .00076 Base Money Factor Rate
48 mo/15k mi – Residual Value 42% of MSRP – .00250 Base Money Factor Rate
60 mo/15k mi – Residual Value 33% of MSRP – .00440 Base Money Factor Rate
24 mo/12k mi – Residual Value 62% of MSRP – .00076 Base Money Factor Rate
36 mo/12k mi – Residual Value 54% of MSRP – .00076 Base Money Factor Rate
48 mo/12k mi – Residual Value 44% of MSRP – .00250 Base Money Factor Rate
2006 Honda Accord 2dr Coupe EX-L w/ Navigation (V6)
24 mo/15k mi – Residual Value 61% of MSRP – .00076 Base Money Factor Rate
36 mo/15k mi – Residual Value 52% of MSRP – .00076 Base Money Factor Rate
48 mo/15k mi – Residual Value 42% of MSRP – .00250 Base Money Factor Rate
60 mo/15k mi – Residual Value 33% of MSRP – .00440 Base Money Factor Rate
24 mo/12k mi – Residual Value 62% of MSRP – .00076 Base Money Factor Rate
36 mo/12k mi – Residual Value 54% of MSRP – .00076 Base Money Factor Rate
48 mo/12k mi – Residual Value 44% of MSRP – .00250 Base Money Factor Rate
2006 Honda Accord 2dr Coupe EX-L w/ Navigation PZEV
24 mo/15k mi – Residual Value 61% of MSRP – .00076 Base Money Factor Rate
36 mo/15k mi – Residual Value 52% of MSRP – .00076 Base Money Factor Rate
48 mo/15k mi – Residual Value 42% of MSRP – .00250 Base Money Factor Rate
60 mo/15k mi – Residual Value 33% of MSRP – .00440 Base Money Factor Rate
24 mo/12k mi – Residual Value 62% of MSRP – .00076 Base Money Factor Rate
36 mo/12k mi – Residual Value 54% of MSRP – .00076 Base Money Factor Rate
48 mo/12k mi – Residual Value 44% of MSRP – .00250 Base Money Factor Rate
Any help you guys can give is greatly appreciated!!!
Car_man, the resident expert host here, will advise you not to put any money down. I'd suggest that you read some of his earlier posts.
I am a newbie, and am trying to make sure I have a couple of the basic concepts down. First, am I correct that Honda, and not the individual dealer, sets the Money Factor and the Residual Value percentage?
Digression: Some posts indicated that the individual dealers increase the MF as a source of profit. Presumably one can deal with this by finding something to back up the .00076 MF. If you make assumptions about the RV and initial purchase price, you can reverse engineer the MF (though that would require something definitive on the RV).
If the MF and RV are set by Honda then the primary factor that distinguishes one dealer's price from another is the initial capital costs (and whatever pin-stripes, knibble tips and cabumba wax jobs they try to throw in). Is that also correct?
Also, what is the best source of "authority" for taking the position with a dealer on what the Honda authorized MR and RV%'s are?
Paul
On saturday we took delivery of an ex-v6 with navigation with $0 down..our monthly payments are $363 including tax for 36 months 12k miles
we figured out what we should be paying by going to hondacars.com and looking at the advertised specials that Honda is running right now
so..we actually knew the number we would be paying all along while the salesman was going back and forth with the manager
by the way we also got out of an 04 TSX lease 16 months early with a wash..
hopefully this helps
as long as you go to the dealer with that information they can't trick you with anything.
the website says that the ex sedan can be leased for 269 for 36 months with 999 down. this is based on the car being sold for 23,800(which is msrp)most likely they are going to discount the car(we got an ex v6 with nav on sat and they took over 3000 off of the selling price)...so you should be able to come under 308 with no problem
this was through honda finance
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you definitely should not lease this car for more than 36 months. That is the longest term that Honda Finance's special lease money factors are available for. If you lease for longer than this, your car's money factor will double and you will end up paying a lot more interest than you should be paying.
If you were to lease a 2006 Honda Accord Coupe EX V6 with navigation through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00076 and 54%, respectively. Using these numbers, an MSRP of $29,000 and a selling price of $500 over invoice ($26,955), I estimate that this car's zero down, pre-tax monthly payment should be around $347.
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On the other hand, I can't imagine Honda putting the Accord on a less attractive lease program when the new Camry comes out either.
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I got a quote yesterday on a 27 month lease for a Accord 2006 EX V6 that resulted in a payment of $346 which already included NYC salex tax. I thought it sounded like a great deal.
The sales manager mentioned he had received new rates for the V6 EX model as of Thursday, but did not provide details.
MSRP 27,850
Invoice 25,118
Residual 16,153
Lease factor .00076
Due at signing $350 deposit, 545 acquisition fee, 294 first payment.
$294/month, 36 months.
I think this equates to an offer to buy the car at $25,618 ($500 over invoice).
Should I offer more or less? Any opinions appreciated!
Leave a little room for a bump-up.. and you might save a few bucks...
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Thanks for the advice!
regards,
kyfdx
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The Honda site only mentions special lease deals on the EX V6 and LX 4 cylinder. Can you usually get the money factor (.00076) on other Accords....I would rather get the 4 cylinder EX, but didn't think I could get such a good rate.
Thanks again. Pam
Finally got the 2006 EX-L MSRP : 25950, negotiated price 22010, 15K miles 36months.
Monthly = $289.14 plus $20.96 tax =$310.10. I paid $1000 down includes first month $310.
Vehicle drive off price = $ 22,517.93.
Any comments about this deal, other than the fact that I should probably not have paid the $1000 down.
The dealer told me that I could get MF .0014 if he added security, but with $0 security he would have to use 0.0015. I chose 0.0015. Does that sound OK? Comments Please.
56% residual = around $14,500 buyoff at end of lease.
Thanks
B
If my math is correct (I'm a bit under the weather and its late here in NJ), I'd say you got a good deal. NAV as an addon is almost 2k.
Enjoy the car....I drove the EX-L v6 with cloth and unfortuantely drove the G35x AWD with the wife before hitting the Honda - just a dumb move! :P
2006 Accord EX-V6
price $24,818
36 mos
15,000 miles
$504.71 down (1st month plus tags)
$338.76 per month
residual ($15,596) 56% of MSRP $27,850
money factor .00086
Let me know if there are hidden snags or something I may be missing. Thanks!!
Yup, you ARE under the weather. You couldn't have driven "the EX-L v6 with cloth". By definition, EX-L only comes with leather. L = Leather.
Adding the $595 acquisition fee in raises the payment to $308/mo.. If you are in PA, the tax on leases runs 9%-10%, I'm pretty sure.... that would put you right up to $338/mo..
So, with only $504 due at signing, if the $338/mo includes tax and acquisition fee... I'd say that is a great deal!
regards,
kyfdx
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Regarding the tax, in Arkansas it is 6% and is figured off of the selling price of the vehicle. This only applies only in the cases where the car is titled in the name of the buyer unlike a "true" lease. It is my understanding that Honda's "lease" is really just balloon financing with the car titled in the buyer's name. This must not be the case in PA else your payment would jump to over $370. Please correct me if I'm wrong kyfdx. And sorry for being so wordy....
Honda Finance has "normal" leases... I'm pretty sure they just tax the payment in PA... The reason the rate is so high... is there is an extra 3% charged on leases in that state..
Considering all that, and if my assumptions are correct, then it is a pretty good deal..
$30 tax on just a $308 payment is no fun though...
Hey.. at least we know your spreadsheet is working correctly!!
regards,
kyfdx
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regards,
kyfdx
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