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2013 and earlier-Honda Accord Lease Questions
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Comments
I'm very interested in your deal because I may lease the same car, except I'd be going with the coupe model and a manual transmission, which is hard to come by in my area (Seattle). I'd also be going for a two-year lease at 12,000 miles per year.
Would you mind posting exactly what you quoted in terms of cap cost (I'm wondering what the exact number is given the discrepancy between the number you have as MSRP and what Edmunds says that MSRP is with destination)? Also, does anyone know if there is some kind of dealer cash on the EX V6 Coupe with navigation (and manual transmission) right now? I'm wondering how mnoker was quoted a figure below invoice (unless it's purely as a result of some sort of dealer holdback or other standard allowance).
Thank you!
Here is the exact quote and yes automatic
" Thank you for your interest in the 2006 Honda Accord EX V6 NAVI. M.S.R.P. Of $29,850. Your special internet price for this vehicle is $26,114*
You will also receive clear door edge guards valued at $197 at NO EXTRA COST. And no additional equipment are added on most of our vehicles, unlike other dealers.
Please contact us to schedule an appointment for a test drive.
All KOLBE HONDA prices include destination charge."
Best of luck to you.
Negotiated cost of car $22,250 (inc. destination); adding tax (5% of sale price for MD) & title & acquisition = gross cap cost of 24,152.50; Adjusted cap cost (I paid sales tax) = 23,038.27; residual value = 14790 (58%); money factor .00169.
Bottom line for a 12k/36mo lease was $293.05/mo with only sales tax ($1115.23) + first month down.
(actually, I had to put security deposit down also because they thought the loyalty program wouldn't apply because I returned my last leased Accord just over a year ago -- anyone know if that is the rule?)
Cap Cost: $24,750
MF: .00079
Residual: $16,153
Monthly: $287.50 (inclding 6% NJ tax)
Inception Fees: $1,138 = 1st Mos. Payment + MV (3 year prepaid registration)+ Security Deposit + NJ Tire Tax + Acquisition Fee.
I'm just wondering if any of the depreciation/finance ratios are any more or less during the term and if the residual rates are the same as traditional leases....
It just sounds like a lease......
Thia is my first time getting a car on my own and I need some input! I am interested in leasing a 2006 Honda Accord EX-L. I live in Monmouth County, NJ. The invoice price is $25,500 and that is being dropped to $22,999 (which they said is $7 under invoice...is that even that much??). I am going for 36 months/15,000 miles/yr. With $2,000 down, they gave me $279 month.
Is this a good deal? The dealership is making it out to be a steal...but of course they could be full of crap. I'm skeptical with putting that much down too, but they say it's covering all the costs. Is it possible to put LESS down, but still have the same monthly payment or even LOWER? ...or am I asking for too much?!
Any help would be greatly appreciated! I am scheduled to go pick this car up tomorrow night and sign all the papers. No actual deal has been made, so I can pull out.
Please Help!
Any feedback is appreciated! Thanks in advance.
I think the 56% residual is for 15k miles per year. For 12k per year, the residual should be 58%.
Planet Honda in Union, New Jersey. I should note that, in exchange for accepting my numbers, I agreed to take delivery an in-stock car (Carbon Bronze/Ivory) that very morning.
36 month lease/12,000 a year
No Down payment
MSRP - $23,800
Selling Price - $21,929.89
Residual - 13,328.00
Residual percentage - 56%
Money Factor - 0.00179
Monthly payment w/ taxes - $325.70
According to the dealer they are just making $200 profit. Does the above figures look right and can I negotiate more. If yes, how much more.
Thanks
ah, but any money down makes a huge difference. At the original poster's rate, a mere $900 down can change the payment ~$28.50/month.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
And, depending on where the poster lives, as you pointed out, taxes can be treated differently. It may be a matter of tax on the payment, or it could be the total tax on the vehicle spread out over the payments (varies by state).
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Can you provide the MF and Residuals for the Accord sedan and coupes for April? Thanks!
I second this question. I have seen that Honda advertises a special lease for the Accord V6 AT: $289.00 per month for 36 months with a $999.00 down payment, 12000 miles per year.
Is the same or something similar available for the manual transmission EX V6? Can you can me the MF and residual for this model. I am located in MO.
Thanks
greenice
Can you provide MF and Residual for the Accord LX SE sedan manual transmission, 36months and 12k miles/year? Thanks!
Car_man
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Is the MF of .00076 for 4-cylinder coupes also or just the V6 coupes?
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Thanks
Vicky
Which dealer gave you this deal. I am in the Bay Area too and looking at an Accord EX
Thanks!
I got mine from Anderson Honda in Palo Alto. I contacted them via their web site and asked for a quote (I contacted other local Honda dealers and Anderson had the lowest selling price and all had same lease numbers at the time). They provided the selling price of the car and all the lease numbers. I agreed and when they said they had the car, I came in, signed the deal, paid the upfront money with my credit card and drove the car home. All very simple.
- A.
My wife just bought a Pilot EX 2WD at Dublin Honda and they were also very forthcoming about the money factor and residuals. This forum helped alot. I came in with all the numbers and they pretty much confirmed the numbers that Car Man has provided.
She had a Civic before the Pilot so they waived the security deposit. Here are the numbers for the Pilot EX 2WD she got:
2006 Hondad Pilot 5dr 2wd EX AT
MSRP=30095
Price = 26803
MF = .00012
Residual = .55
Total out of pocket= 1995 ( included $595 aquisition , 1st payment $292 , DMV $246, tax on cash $144)
12K miles
Payment 269+tax = 292 ( 8.75% tax )
Today April 15,2006 I was at Kolbe Honda the salesman SID would not budge from 28K for a Coupe EX V6 with NAV so how can they offer you $26,114 ? did you get your quote from them thru Edmunds dealer quote ? in terms of lease they offered me $289/month with $2500 down and they would not budge.A friend of mine leased from them in 2002 an Accord Sedan EX V6 no NAV for $1000 down and $300/month and they wouldnt give me the same deal, the NAV really adds another $55/month
Anyone in L.A know where I can get a good deal on a lease for 2006 Coupe EX with NAV ? If so, please email me the details in terms of residual,money factor etc...
Thanks
Can you explain to me now the cap cost was $26500 below invoice ? and what is the $595 bank fee ?
I was offered $2500 down and $289/month + CA tax with NO NAV is that a good deal ? according to my calculations it would work out to $358/m with no money down + tax and for NAV prob another $55/month then I'll be looking at $414/month. Which dealership did you go to ?
Thanks
The finance officer said we were a money loser for the dealer (Spirit Honda in El Monte) but we got the car on the last day of last months lease special and I think it was the end of the fiscal quarter so that may have something to do with it. They are also were having a "grand-opening" of the newly rebuilt dealership and may have had very lofty goals to meet for investors. I can't believe they would actually lose money but she said they made it up on some other customers that night (but of course said she "should not be telling me this"). I simply negotiated the hell out of them and they must have wanted to make their quotas. The two women I dealt with in the internet sales department were excellent.
The $595 "bank-fee" is a non-negotiable fee paid to the finance company (in this case Honda Financial) for writing the lease so my actual CAP Cost was $27095. I think the terms are the same for this month so Good Luck!
So your total money down was $970 ? ($571+$45+354) and then $354/m incl CA state tax right ? what was the money factor ? and the residual ?
When did you lease this car in March or April ? Can you refer me to the dealership and the people you spoke to ?
and anything else I should look for before I sign ?
Feel free to email me directly to encino_guy2004@yahoo.com
with your contact info as well, I'm planning to go to more Honda dealerships today 4/16/06
encinoguy
JMc
2006 Honda Accord 4dr Sedan EX-L (V6)
24 mo/15k mi – Residual Value 66% of MSRP – .00079 Base Money Factor Rate
36 mo/15k mi – Residual Value 56% of MSRP – .00079 Base Money Factor Rate
48 mo/15k mi – Residual Value 46% of MSRP – .00255 Base Money Factor Rate
60 mo/15k mi – Residual Value 36% of MSRP – .00445 Base Money Factor Rate
24 mo/12k mi – Residual Value 67% of MSRP – .00079 Base Money Factor Rate
36 mo/12k mi – Residual Value 58% of MSRP – .00079 Base Money Factor Rate
48 mo/12k mi – Residual Value 48% of MSRP – .00255 Base Money Factor Rate
2006 Honda Accord 4dr Sedan EX-L w/ Navigation (V6)
24 mo/15k mi – Residual Value 63% of MSRP – .00079 Base Money Factor Rate
36 mo/15k mi – Residual Value 54% of MSRP – .00079 Base Money Factor Rate
48 mo/15k mi – Residual Value 44% of MSRP – .00255 Base Money Factor Rate
60 mo/15k mi – Residual Value 34% of MSRP – .00445 Base Money Factor Rate
24 mo/12k mi – Residual Value 64% of MSRP – .00079 Base Money Factor Rate
36 mo/12k mi – Residual Value 56% of MSRP – .00079 Base Money Factor Rate
48 mo/12k mi – Residual Value 46% of MSRP – .00255 Base Money Factor Rate