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2013 and earlier-Honda Accord Lease Questions
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2010 Accord EX 4cyl.
3 year 36K Lease
MSRP - 25,340 (including destination charge of 710)
Invoice - 23,041
Residual Value - 15457.40 (61%)
Money Factor - .00133
Cap Cost - 23,383.40 (includes 595 lease fee, and 589.50 dealer fees)
Paid first months payment and FL tag transfer fee of 130.50 for a total of $420
Monthly payment - $271.83 plus FL 6.5% tax for total $289.50
I solicited internet quotes from all 15 dealerships here in south FL and the most difficult part was determining what their quotes included. I found it necessary with most dealers to specifically ask whether they included destination (710) and dealer fees in their quotes (most included destination; none included their dealer fees).
Hope this helps. If I missed anything, please feel free to ask.
Edmunds Price Checker
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Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
2010 Accord EX-L V6 Sedan
36 month/15K miles lease
$395/ month including tax, $0 cash/fees at closing
I think I did pretty well!
Selling price is $20544+TTL. Lease is $255 a month for 36 months incl tax, 12,000 mi max per year, OTD out of pocket upon pick-up is $654, and residual value after the lease period is 61% or about 14,300 + . Would appreciate advice whether I am getting a good deal or not. Thanks.
$250/month with taxes doesn't seem bad to me, but the details are important to really determine that.
Any money out of pocket?
What was the sale price and MSRP?
Any cap reduction?
I believe the money factor is actually .000833 for the 3yr/36k term...Car_man could confirm I'm sure.
2010 Honda Accord EX-L Sedan
Options: trunk tray, splash guards, wheel locks, nitrogen filled tires
36 months
12k mi/yr
$0 due at signing (everything rolled into payment including first month)
$340 / mo including tax
My dealer will do this deal all day long so if you want the info let me know. I'm in the Tampa Bay area.
Do you have MF and RV for the 2010 Crosstour?
Please provide the numbers for EX-L with Navi and EX-L without Navi.
Deeply appreciate your service. Keep up the invaluable work!
Tymo
- Total Paid at dealership $2000.00 (includes all fees, first payment, tax tags, etc)
- Remaining committed payments: 35 payments of $200.00 per month (includes taxes).
- My total cost for 3 years for this car is: 2000 + 35*200 = 9000 over 3 years
- I told the dealers all I want to pay them when I come in is $2k, and will send 35 pmts after that and they should tell me the $ amount of that including taxes. I told them I don't care what residual, money factor, cap cost, etc they use. All I care for is only paying $2000 on day 1, and then 35 payments of xx $ amount including all taxes and fees so I get a true out of pocket perspective. They started with $274/mo and got them down to $200.00.
- I am not looking to keep the car, only to use it for 3 years and then return it.
- Was this a good deal?
Thank you for everyone's help here - this is great
- Many people here will criticize you for not caring about selling price and only asking for the lowest monthly payment. To me, your approach is quite legitimate, I would say, with a caveat: if only you know very well what is the right payment for your car.
- Is your payment right? The fact that you got the dealers down from $274 to 200 is impressive, but not because 200 is so good, rather, because 274 for LX is out of bounds.
- $200 for LX at 12k/yr and 2k down is about a standard (called Special Featured) Honda promotion, which is quite adequate, to my mind; still there is room to do better.
- Just an example: the poster msssny, post # 3666, will pay $400 less than you over 3 years for a much better car (LX-P).
- Doing better usually involves much haggling, though, and may be not up to everyone. The popular opinion that you send an email asking for an "internet price", and start receiving a lot of offers below MSRP, is just another urban legend.
The Total Cost (with tax and everything included) of $7339 / 30 = 245 per month
I think pretty decent deal. What do you think? Also I was wandering if it was better to have it for 36 mounts instead? I asked if at the end of the 30 month they would consider extending the lease with 6 more and they said its possible but the lease company will have to decide...
Here are the details of my deal as in the contract:
Capitalized Cost Deduction (amount payed in cash) - $1573.44
Sales Tax on the Cash - 118
1st month - 178.45 (166 plus tax in FL)
Initial Title Fees - 60
Tire Fee - 3.50
Elec Fee Battey - 29
License - 201.55
TOTAL $2163.95
Plus 29 payments of 178.48
TOTAL cost (with tax) at the end of the lease: $7339
My monthly payment is 187 including tax. for a 30 month lease and 12000 miles per year.
Is this a good deal...
My first lease so I have two questions:
1. If I need to move in a different state will Honda Lease Trust allow me to drive/register my new Accord in the new place? If so do I just pay the new registration/title as only additional expense or there are more fees?
2. I just see that the Lease Agreement has a section called "Estimated fees and taxes during lease term" and the amount there is "estimated" to be 1051.70. Is this amount already included in my "Total amount I will have paid by the end of the lease" or this will be billed at the end of the lease additionally?
Thanks,
Chris
Honda Finance's December buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Crosstour EX-L with 15,000 miles per year are .00133 and 60%, respectively for consumers who qualify for its "Super Preferred" credit tier. The addition of navigation knocks two percent off of this car's residual value.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Any fees or taxes that you have to pay on your lease will either be paid at signing or baked into your monthly payment. You won't get tagged with all sorts of taxes and fees at lease-end. Some banks charge a disposition fee when lessees return their vehicles, but to the best of my knowledge Honda Finance still does not charge one.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Honda Finance's December buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Coupe EX-L 4-cylinder with 12,000 miles per year were .00133 and 57%, respectively.
Please feel free to check back with me in a day or so and I'll gladly give you an update on what the new program is like.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I just leased a '10 Accord EXL with 15k/yr allowance.
I have excellent credit 750+, and this was my deal after some negotiations.
$770 Down
$352/mo including Tax
Options LoJack installed (+450 after negotiations)
is this a good deal? finalized the lease Jan 4th..
Thanks!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car Sticker is $30,015 and lease is based on purchase price of $25,884. With $1,000 down, monthly payments are $359 including tax for 36 months with 12,000 mile monthly allowance.
Thanks
I'm looking to get a 2010 EX-L Coupe (4-cyl Auto). I'm in the north SF Bay Area (Zip 94954). I haven't gotten any quotes yet, but plan on going back to the Internet department at a dealer I have done business with before. What's a reasonable price? Invoice $25,074 including destination. I was thinking of around $24k as a starting point, but not sure if that's still too high?
Also curious what the money factor and residuals are on 24/30/36 month options (with 12k miles/year). I should add that I expect to be able to qualify for the highest credit tier (my scores are about 780).
Thanks in advance,
-Bill
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Here's the lease info that you requested. Honda Finance's January buy rate lease money factor and residual value for a 24 month lease of a 2010 Accord EX-L Coupe 4-cylinder with 12,000 miles per year are .00132 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
The numbers for an otherwise identical 30 month lease are .00132 and 59%. The 36 month numbers are .00132 and 56%.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Could you post the current (Jan. 2010) money factor and residual values for 2 Accord sedans? Both 4dr. automatics and both 36 mo., 12K/yr. lease. Zip code 31408
1) LX
2) EX
Also, is that $900 dealer cash available on ALL Accord 4 cylinders or just the 2010 Accord EX-L Coupe?
Thank you!
Dave
I thought I'd share my lease deal since I've learned so much from these forums. Leased a 2010 Accord EX 4 door auto on Saturday. Here is the breakdown:
MSRP - $24630 (taken from window sticker)
Vehicle Price - $21616 (this includes $710 destination and 'appearance package' (wheel locks, mats, mud guards, etc.)
Acq Fee - $595
Proc. Fee - $299
Purchase price (includes acq and proc. fees) - $22510
Sales Tax (VA) - $713.57
Title/License - $66.50
I put $1000 down via a trade-in (which was really only worth ~$600). Total left was 35 payments of $253. This is for a 12k/month 36 month lease of a 2010 accord sedan EX. I think I did pretty good. Dealer experience was very smooth. I started with email quotes from multiple dealerships, but I figured I might have to stop at a few because I was dealing with a trade-in. But my sale went so smooth at my first stop there was no need to continue shopping. Was in and out of the dealer in 3 hours. Little to no high pressured sales pitches from either the internet sales manager, or the finance guy. Overall, I'm very happy. I got the alabaster silver with black interior. I think it looks sharp on these accords!
2010 Accord EX-L V6 no nav.
$2175 total out of pocket. 15k for 30 months
Per month $330 (total payment per month with tax included)
;0)
I should add that the price I got was with zero haggling through a rep in the Internet department. I figure I could have gotten him to go a bit lower, but they offered a very fair price on the trade-in and the whole process was so painless that I didn't want to ruin that. Best car buying experience I've ever had.
On non-navi units, the residual is 56%. I think navigation takes 1 or 2% off of that since the extra gadgets depreciate faster.
Thanks for your help. The info you asked for:
$26,700 was the negotiated price. Accord EX-L V6
.00133 MF @ 61% for 30 months (15K)
Following paid up front
tax up front (330x7% for 30 months) $693
Bank fee 595
Paper work (reg, plates, doc fee) 483
1st month 330
Anyway, since you've already signed, the best thing you can do now is enjoy the car! We love ours so far.
At this time, you probably have some positive equity. Usually it is advised for this very reason to get a loan from the start, rather than lease then opt to own. It ends up being slightly more expensive. But, if you like the car, than it is worth it. Especially on a Honda.
http://www.edmunds.com/advice/leasing/articles/48100/article.html
The total cost of leasing then buying/owning is higher than owning it at the beginning. But it is probably a better choice considering my current financial situation. I think I'll give it a try. Thanks again.
56%
.00132 = ~3.185%
36months/18k miles
$0 down (all rolled in)
$369 /
Courtney Honda, Milford, CT
Internet Manager was a very pleasant guy. No pressure, no nonsense.
Not a bad deal. I just inked a deal for a '10 EXL Sedan myself.
Terms:
36 mo
12k mi / yr
$319 w/o tax and $341 w/ tax
$0 out of pocket (all fees rolled into payment including first month)
Options: mudguards, trunk tray, wheel locks, nitrogen filled tires