Options
2013 and earlier-Honda Accord Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
The Car on the Honda website is the EX, not the EX-L, The MSRP difference is about 1800$ I think between the EX and Ex-L.
and yes.. EX-L is Leather standard, with heated seats, power seat, 6Cd changer and some minor stuff.
The dealer paid off my old lease, but that was after the fact. The lease had been negotiated up front.
mackeymax
MSRP = 27,850
Residual = 15,596
Lease factor = .00086
Selling price = 24,650
List 23,100
Sell 21,349
Money Factor .00135
Residual 13,167
36 months, 12K miles, $0 down, $280 per month plus tax. Only thing required at signing is first payment and $10 title fee.
For 2006, Honda extended its powertrain warranty to 5 years/ 60,000 miles. Honda is now in line with Toyota and Nissan. So your powertrain would be covered over the life of the lease - engine, transmission, etc - the really expensive stuff. You could still be on the hook for a broken power window or something of that nature, but the financial risks are lower.
Just one data point..
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Good to hear. How do you get a 3 year 52K? How did those tires pass inspection? In your experience how picky is Honda with lease return? I currently have a BMW and they seem to be more forgiving than Honda. What are you driving now? Thanks
Honda Finance will send a 3rd party inspection service to check out the car a few weeks before your lease is up.. I've always found the inspectors to be very forgiving.. They will tell you right then, if there are any problems.
How did the tires pass? He put the gauge in the tread, and said, "They're fine". Good enough for me..
What am I driving now? I drive a CR-V.. My wife (who drove the leased Accords) has a BMW.
regards,
kyfdx
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
36 months 15K
$347 per month, includes all fees, security deposit and 7.52% tax. First payment at signing.
How does this look?
I've been leasing Toyota Camrys from 1993 till 2001, and never had such a fee mentioned. The current leasing company claims it is now customary with any leasing of any car today.
Anybody else ever encountered such a thing on his/her lease contract?
Could you please help me out with this lease.
I have been quoted following for 2006 Honda EX-V6 - 6MT w/navigation:
MSRP: 29,350
Cap cost w/acq. fee: 27,000
I need to pay first payment, title, tax and licencse total of $580.
I got them down to $360 with tax 5.6 for Milwaukee.
Is this a good deal. Money factor was around 0.00085.
This was for 18,000 miles/year.
MSRP $27,850
Cap cost $25,733, includes $119 recording fee, $300 sales tax, $25 license transfer fee.
I pay first mo payment
36 months, 15K miles per year
Payment = $308.14, includes GAP.
I stated I wanted the national lease program, but with 15K miles vs 12K miles. It appears I'm getting the extra miles for 7.67 cents per mile based on the difference of advertised $289 payment vs $308.14. Good deal?
Also, they offered me their Leadership Purchase Plan for the same payment of $308. Same 15K miles per year for 36 mo. Rate at 2.29%. At end of 36 mo, I can turn back in, or decide to keep it and continue making payments. They structure so I will most likely have some equity at less than $16,000 ballon (so they say), similar to residual for lease. There is a $1,500 allowance for wear and tear, and excess miles. Any catch to this?
Thanks!
Though, I heard recently that Honda Finance no longer has a disposition (turn-in) fee.
regards,
kyfdx
Host-Prices Paid Forums
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
What is current MF and residual value for Accord LX SE with 5spd manual for 12k per year?
Thanks,
What's interesting is, NOBODY here, or elsewhere that I read, has posted such a fee when detailing a lease proposal or a done contract.... After all, this is a financial factor that needs to be calculated into the value of the deal, no?
Or maybe car dealers (and leasing companies) don't like to put things on the table? Are they treating this $400 cost as a HIDDEN cost?
If you are only out of pocket the first payment, I believe this is an excellent deal. The national lease includes an out of pocket of $2,100 which includes $999 cap cost reduction. This cap reduction alone adds $28 to the monthly rate of $289.
It was between the VW Passat at their dealership next door, and the Accord. I really liked the Passat 2.0T, great driving car, but the closest comparable only had the package 1, no leather, no power seat, and the nagging little problems VW's are known for. I don't expect the drivetrain to give me any problems, but I don't have time in my life to go back to VW service dept. to fix little problems. With the Accord, I know I won't have this problem. I am very, very happy with my deal! :shades:
Should I have negotiated to get a better deal from the sticker price even if I am getting the above lease rate?
Appreciate any input from the members here.
Thanks!
drdr102 :sick:
NEVER, EVER discuss a lease with either a dealer or a leasing company based upon MSRP.
Shop various dealers for the best purchase price that you can negotiate. It should be slightly above or below dealer invoice cost. Do the research on this website to be sure of your numbers. Bring your spreadsheet to the dealer so that you can show them exactly why you are making an offer based upon doing your homework.
Once you have a firm number, you can bring up your just realized thoughts that "perhaps I might consider a lease too".
Make sure that the lease deal is based upon the previously negotiated bottom line purchase price.
If you've read this thread carefully, you will also realize that Car_man, one of our resident hosts advises that you should never put a large amount down on a lease.
Thanks for your advice. I made a big rookie mistake when I contacted the dealership prematurely. I thought the current special lease deal from Honda was a firm and final one, especially the monthly payments of $239. Now I am facing a difficult task of negotiating down from the MSRP.
Thanks again for the timely advice. I am learning a lot from this forum especially invaluable advices given by Car_man.
drdr102 :sick:
Unless you've inked the deal, you can always walk away or solicit additional quotes and resume negotiations with the original dealer.
On a 24 or 27 month 12K/year lease what would be the MF and residual % of this car.
Also, if the MSRP is 25.5k and the selling price is 23.5K, what would be the 0 down payment exclusive of tax/tags.
Thanks,
Jim Miller
06 Accord 4dr EX-V6 w/o navi
36 Months
$758 Due at Signing (1st months, doc fee, license etc...)
$340 a month (tax included)
12K/year
I am ready to do this deal tomorrow. Does anyone know what the residual on this car is at the end of the term?
15K a year, 36 months, $336 a month includes taxes of 7.52%, 1st month payment and 189 doc fee. I will check on the residual for you.
Thanks in advance.
Can you please provide the 36 month 12k and 15k buy rate MF and Residual for '06 Accord Sedan (automatic) in LX and LX Special Edition. Also, any incentives available for either lease or buy?
When is this program scheduled through?
Thanks
gperr
I believe that .00086 is the standard lease factor for the EX-V6 at this point. (Carman can confirm or refute this). Personally, I do not negotiate the lease factor or the residual (these are usually set by the manufacturer). Instead, I focus on the monthly payment (with very little upfront cash). If you use the Edmunds lease calculator and plug in invoice price, you can get a good feel for where the monthly payment should be. In my particular transaction, the dealer sold the car for about $500 under invoice.
The sale price seems a little high to me. You should be able to buy the car at invoice -a savings of approx $800. This reduction would bring your payment down pretty close to your target payment.
I also turned in my 2003 Accord EX 4 cyl sedan Automatic, cloth seats, with 24,500 miles on it. The lease wasn't due to be up until Sepetember but they happy to let me walk with nothing due. I'm sure they can make a bit selling it used so take this into account when comparing mine with other quotes.
I just wanted to thank everyone on this board for some guidance. It certainly saved me some $$ !