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2013 and earlier-Honda Accord Lease Questions

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  • cmhondacmhonda Member Posts: 31
    We financed with Honda and qualified for the exceptional qualified buyers or whatever they call it.

    The finance manager said credit scores of 700 and above.
  • caseymancaseyman Member Posts: 11
    OK going to be really simple,

    is it possible to get a Honda accord EX Coupe
    for 250 a month and 2000 down.

    12,000/36 month

    lowest quote ive recieved so far was 300 and 2000 out of pocket.
  • albert72albert72 Member Posts: 200
    Thank you very much for the information Car Man. One other quick question - we may delay the purchase / lease and get a car in November. Looks like a lot of offers run through 11-2-09.

    Am I correct in my estimate that the deals may get better starting 11-3 assuming that the dealers and manufacturers continue to struggle? I know I would be making an assumption on this but I believe in the past, this has been the case.

    I appreciate your help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gpsac. Honda increased its cash incentive on leases of 2009 Accord 4-cylinder models from $1,500 to $2,250. The cash incentive for leasing an '09 Accord V6 rose from $750 to $1,500.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gpsac. Prior to introducing the enhancement on its cash incentives for leases of the 2009 Accord, Honda introduced a new special $750 cash allowance on vehicles that are financed through Honda Finance using its 1.9%-2.9% retail offer.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, albert72. You are correct, Honda's current programs on the Accord are scheduled to run through November 2nd. It is always difficult to predict what manufacturers will do with their future incentive programs. Generally speaking, vehicles' incentives increase as the model year progresses...but there are certainly exceptions to this rule like when Honda pulled the plug on its support of trucks several months ago.

    If i had to make an educated guess at this point, I would say that Honda's programs on the 2009 Accord will be at least as attractive next month as they are today. However, it is getting very late in the model year. At some point Honda is going to pull the plug on its lease support for leftover models and replace it with straight dealer cash. Furthermore, I'm sure that the supply of 2009 models is getting thinner by the day. The longer you wait, the more you risk not being able to find a car that has the exact combination of color and options that you want.

    HA, after all that blabbering, my short answer is yes...if I had to make a bet I would say that Honda's incentives on the '09 Accord will be at least as attractive in November as they are today. There's just no way to say that for certain.

    Car_man
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  • thebentmanthebentman Member Posts: 13
    2009 Accord LX

    At signing: 1st Month (238), Tax (724), Plate transfer (70), minus 250 dealer coupon.

    238 a month x36 months 15k miles per year
  • ccbball31ccbball31 Member Posts: 3
    Looking to lease a accord coupe V6 man with no NAV.
    12/k year

    is it reasonable to think i could get it for 350/month $2000 Down?
    Can i do any better? Thanks
  • caseymancaseyman Member Posts: 11
    I am offered a Accord 10 EX Coupe
    12,000/36 month

    for 2000 down $256 a monthwith tax
    I need to get the car tomorrow is this decent?
    pretty good residual but not sure if getting best deal

    Vehicle Price: $25,390.00
    Preferred Customer Discount: -$3,350.00
    Selling Price: $22,040.00

    Sales Tax (estimate): +$1,395.71
    Tag/Registration Fees (estimate): +$323.75
    Tire/Battery/MVWEA: +$8.50
    Dealer Service Fee: +$699.95
    Balance Due (estimate): $24,467.91
  • honda2010honda2010 Member Posts: 3
    Is this a good deal?

    2009 HONDA ACCORD EX-L WITH NAV
    12k - 36 month lease
    $1500 total down includes reg, 1st pmt, etc.
    $338 a month.
  • honda2010honda2010 Member Posts: 3
    thoughts
  • benzsalesbenzsales Member Posts: 7
    Thats a great deal - Jump on it!
  • benzsalesbenzsales Member Posts: 7
    I would check that dealer service fee - looks like pure profit..... Whats that all about?
  • honda2010honda2010 Member Posts: 3
    Great. Yeah I locked it up yesterday. Thanks for the assurance
  • lotterywinnerlotterywinner Member Posts: 7
    Still negotiating but so far:

    2010 Accord LX-P Sedan WITH LEATHER ADDED, auto:

    $23,565.00 MSRP
    $21,888.00 Selling Price (says it's $250 over invoice)
    2022.83 Accessories (full window tint $312, front/rear splashguards $166,
    leather $1544)
    2386.98 All taxes (6.25%) and fees (title, tags etc.)
    $24,803.38 TOTAL

    0.00133 Money factor
    60% Residual
    $14,139 Residual Amount

    $345 month on 15K/yr 36 month lease. With $1500 down

    what you all think so far?
  • isellhondasisellhondas Member Posts: 20,342
    Do you really want leather that bad?

    You can't residualize leather on a lease because it won't add any real value to the car when the lease ends. Same applies to the window tint.
  • lotterywinnerlotterywinner Member Posts: 7
    Im new to leases so im not even exactly sure what "residualize leather on a lease" means. I just always had leather so i asked to throw that in but definately if it will make that much of a difference in the deal I can reconsider.
  • lotterywinnerlotterywinner Member Posts: 7
    But with the numbers I gave how does the $345 month on 15K/yr 36 month lease with $1500 down sound? I know i can get him down a bet more but didn know if he's far off from what I should be paying already.
  • jayriderjayrider Member Posts: 3,602
    Just saw your post gpsac --- loved it !!!!
  • badbear31badbear31 Member Posts: 1
    $27885 negotiated to $24485,
    2300 down inc. 1st payment.
    3yrs, 36k @ 289 a month.

    Finance manager said they made a $1000 mistake and shouldnt have done deal but GM said ok. I feel good about it but is this a good deal?
  • cmhondacmhonda Member Posts: 31
    I have no idea about the deal, but I will say that on Thursday, the sales man that sold us our 2009 Accord Lx for 160 a month and 100 down for 36 months 36K, called and said that they submitted the lease paperwork to Honda and it was rejected because of something extra they added onto the MSRP of the car.
    So the salesman drove to our house, an hour away, to get us to resign papers.
    Now the lease is 158 a month, purchase price of the car is now 17064, down from 17800, and the residual is 12064.
    I have no idea what really happened, and I'm still confused?
    Any ideas?
  • al09al09 Member Posts: 4
    don't really know what to say. The invoice (without destination) is $18900+. This sounds like an impossible deal. Where is this. If I can get my hands on them, I'll take 2 :)
  • al09al09 Member Posts: 4
    I am trying to find out what is the best lease deal out there for a 2010 Accord 4 door V6 fully loaded with Nav? I usually just walk in the dealership, tell them what I'm willing to pay and if they don't want to make the deal, I just leave. I try to be fair to them too and don't just walk in with an impossible request. After all they run a business and they need to profit to stay in business.
  • isellhondasisellhondas Member Posts: 20,342
    Unless that store is running a charity, that was, indeed, an impossible deal.
  • pantrupantru Member Posts: 14
    2010 Accord LX - $145 + state tax per month for 36 months 12k miles per year
    Initial down 1999, 299 doc fee, 595 acq. fee, 125 tax+registration

    Is this a good deal?
  • cmhondacmhonda Member Posts: 31
    Do you mean my deal or someone else's

    The dealership called us on Saturday and said 160 a month for 36 months, with 750 down.
    We did have a 99 Olds Alero with 154K miles on it, no AC, and the windows did not roll down.
    They gave us 1600 dollars for that car, it was worth probably 2 dollars. We were actually going to donate it to the Kidney thing, but hey, 1600 dollars......

    The dealer said we were getting an awesome deal, but we had no idea.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lotterywinner...and congratulations if that really is indeed the case. What isellhondas meant when he said that you cannot "residualize leather on a lease" is that if you lease a car that has dealer-installed leather instead of leather seats that came straight from the factory you will have to pay for the full cost of the option over the course of the lease. So for example, let's say that the dealer-installed leather seats cost $1,000. You essentially would have to buy the leather seats by paying an extra $27.78 per month for them and then give them back when you turn in the car.

    If you really want leather seats, just go with a trim level that has OEM seats that were installed at the factory.

    Car_man
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  • isellhondasisellhondas Member Posts: 20,342
    Sorry, I didn't get back to this forum.

    Great explanation. It would make little sense to do that.
  • davidwilpdavidwilp Member Posts: 28
    Where is this deal? I'll take 2 of them at that price.
  • isellhondasisellhondas Member Posts: 20,342
    " Where is this deal?"

    Um...Fantasyland?
  • freezedogfreezedog Member Posts: 11
    Hey Car_man or anyone:

    Does anyone know that the November lease rates are for a 2010 Accord EX-L V-6 (Sedan) without navigation are? Specifically the money factor and residual.

    Thanks in advance for your help.
  • quantifirequantifire Member Posts: 21
    Hi Car Man

    Is Honda still publishing MF and residuals for 09 model eases? Interested in 09 EXL Accord Sedan, A/T, 4cyl. Both 24 and 36 month, 12K and 15K per year. If not, what would those rates be for a 2010 model? Thanks
  • davidwilpdavidwilp Member Posts: 28
    I don't have any numbers the dealer based this on. We are talking about a 2010 Accord LX. $1,966,92 out of pocket (no idea how much is cap reduction etc..). Total monthly payment for 36 months tax included is $222.98

    Please let me know if this seems like a good deal or just the standard current offer with the dealer playing nu,bers games.

    Thanks
    David
  • dustinhoffmandustinhoffman Member Posts: 4
    Yes, it is.
    Where have you got it?
  • davidwilpdavidwilp Member Posts: 28
    Honda dealer in Hollywood Florida
  • dustinhoffmandustinhoffman Member Posts: 4
    Thank you! And wow!
  • hondashprhondashpr Member Posts: 2
    Hi, Car Man,

    2010 Accord LX 3 year, 36,000 mile lease. $2,000 due at signing with payment of $184 a month (tax included). This deal includes a trade valued at about $700. Dealer says price of car to me is $19,600. Residual is 61% (I think buy out is about $13,600). Money factor is.00133. What do you think? Good deal or not? Thanks! (Love this forum.)
  • d_079d_079 Member Posts: 1
    2010 LX-P 12,000 miles, 36 months, $2500 down, $263/month.
    Any input is appreciated!! This is the figuring I got from the dealer:


    Lender Program: AHFC (NATIONAL) / SP / Preferred Term: 36
    Rate Adjustment: BASIC standard program
    Residual Adjustment: Basic Standard Program
    Profit
    Vehicle Price: 21937.00
    Vehicle Cost: 21637.56
    Dealer Cash: 0.00
    Vehicle Profit: 299.44
    Trade: 0.00
    Lender Discount: -
    Front-End: 299.44
    Back-End: 0.00
    Reserve (split: 70% ): 100.00
    Total: 299.44
    Available: 5130.99

    Deal
    Vehicle Price: 21937.00
    Trade-In Bal.: 0.00
    Taxes: 693.22
    DMV/Misc Fees: 0.00
    Lender Fees: 595.00
    Aftermarket: 0.00
    Credit Insurance: 0.00
    Amount Due: 23225.22

    Cash Down: 1146.49
    Upfront Items: 693.22
    Rebate: 0.00
    Trade-In: 0.00
    Adj Cap Cost: 21385.51

    Due In Advance
    Due At Signing: 2499.97
    Rebate: 0.00
    Trade-In: 0.00
    Dealer Cash: 0.00
    Out of Pocket:

    Residual MSRP: 23565.00
    Applied Residual %: 61%
    Residual NET $: 14374.65
    Residual NET %: 61.000%

    Adj Cap Cost: 21385.51
    Credit Tier: Preferred
    Sell Rate: .00193
    Markup: Not Allowed
    Buy Rate: 0.00193
    Term: 36
    Payment: 263.76
  • gator00sigator00si Member Posts: 61
    Carman,

    I'm looking for the 2009 Honda Accord Coupe EX-L both I-4 and V-6 lease numbers based on 15k mi/yr. There is still the 1,500 marketing support on the I-4 and 750 MS on the V-6. I would think the 36/mo term his Honda's sweet spot lease. Thanks
  • mstein_88mstein_88 Member Posts: 4
    I'm looking into a lease for the first time. At the advice of some of you folks, I'm currently looking to get a few Internet sales quotes via email from my local dealerships. Here's the first one I received. I realize it's probably not nearly enough information, so how should I respond to it and what exactly should I be asking for? Any input is much appreciated. Thanks all.

    "The 2010 Honda Accord Lx sdn leases for $179. + tax per month. This is with $3000. due at signing. This lease is for 30 months with 12000 miles per year. Please call me to schedule your test drive."
  • pantrupantru Member Posts: 14
    Glad to know it is a good deal. It was in Massachusettes from a Honda dealer in Reading. I am already enjoying my car since 1 week :)
  • thinkingtlthinkingtl Member Posts: 3
    sorry don't have the info, but i am looking to lease the same model. where are you located and do you have any quotes?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi freezedog. Here's the information that you're looking for. Honda Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord EX-L V6 Sedan without navigation with 15,000 miles per year are .00133 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi quantifire. While Honda is not providing lease support on the 2009 Accord any longer it does have a standard program on it. Honda Finance's November buy rate lease money factor and residual value for a 24 month lease of a 2009 Accord Sedan EX-L 4-cylinder with 15,000 miles per year are .00270 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical 36 month lease are .00270 and 50%.

    If you were to lease with only 12,000 miles per year, this car's 24 month program would be 1% higher and its 36 month program would be 2% higher.

    In lieu of lease support, Honda is providing $1,500 dealer cash on this car that may be used in conjunction with its standard lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hondashpr. I;m glad that you like this forum so much, The .00133 money factor that you were quoted is right in line with Honda Finance's current buy rate for this car, so that's a good sign.

    Let's take a look at the other important variable on a lease...the selling price. The dealer invoice price for a base 2010 Accord LX is $20,533. The price that you were quoted is significantly below that, so it appears to be an excellent deal.

    If you like the car, I personally don't see any reason not to go for it, though I would have the dealer use the money from my trade to pay whatever was due at signing and cut me a check for anything that was leftover.

    Car_man
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  • accordlxp2010accordlxp2010 Member Posts: 1
    I leased one last week:
    Accord 2010 LX-P 12,000 miles, 36 months, $3150 down (including first month payment and other fees) with $240/month. I do not know whether it is a best deal or not but I was in rush so, I hope if not best/good then at least not bad deal.
  • nikomattonikomatto Member Posts: 1
    Hi guys,

    It's my first time to consider leasing. A leasing company is offering 36 mo and 12,000mi/yr @ the following pricing

    Banker fee: 545
    DMV fee: 350
    Monthly: 282
    Down: 0

    Total applying NJ tax on Fees and Monthly: $11,127
    Total out of pocket/month including tax: $309

    Can someone please let me know if this is a good deal or not?
    I wish I can lease 2009 models to save the cost, but the chances look very slim.

    I would love to get 2010 or 2009 EX Coupe as they come with the premium sound package. Yet leasing options seemed very high on 2010s, and 2009s were not available.

    Would you guys please recommend any good dealer offering very low buy or lease?
    I was offered 21,500 before tax on 2009 EX coupe.

    Thanks again for your help!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gator00si. Honda is still providing $1,500 dealer cash on 2009 4-cylinder Accords and $750 on V6 models, However it is not providing lease support on '09s any longer. I haven't run the numbers, but I wouldn't be surprised if the lease support on the 2010 model made it cheaper to lease one of them than an '09 at this point. Here's the numbers for both.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Accord Coupe EX-L 4-cylinder without navigation with 15,000 miles per year are .00270 and 48%, respectively for consumers who qualify for its "Super Preferred" credit tier. The numbers for an otherwise identical V6 model are .00270 and 47%.

    The numbers for an otherwise identical lease of a 2010 Accord Coupe EX-L 4-cylinder without navigation are .00133 and 55%. The numbers for a '10 V6 are .00133 and 53%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome mstein_88. I always advise consumers to find out what selling price any lease that they are quoted are based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Knowing this car's selling price would make it much easier to see if there was any meat leaft on the bone on this deal so to speak.

    Also, $3,000 sounds like a lot of money to pay at lease signing. It is in your best interest to put as little money down as possible when leasing. Consumers who pay a lot of money at lease signing risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. Typically, all one has to pay at signing is their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment (but I believe that this charge is being waived on '10 Accord leases right now), Honda Finance's $595 acquisition fee, and any required state taxes or fees. Don't pay anything more than that, such as a capitalized cost reduction.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nikomatto. I personally am always hesitant to go with independent leasing companies that act almost as brokers on leases. It is usually much cheaper and safer to go with a lease through Honda Finance. You will likely be able to negotiate as good a deal or even a better one by comparison shopping with a few dealers for a Honda Finance lease.

    Let's work up a sample Honda Finance lease on the car that you are interested in and see how much it would cost. According to my calculations, if you were to lease a 2010 Honda Accord Coupe EX 4-cylinder that has an MSRP of $25,390 and a selling price of $23,586 ($500 over invoice) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $290.

    Car_man
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