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2013 and earlier-Honda Accord Lease Questions

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Comments

  • leasewizardleasewizard Member Posts: 17
    edited February 2011
    Do not know what the MF or residual is . The deal is low enough did not ask but guessing MF is higher than normal (subsidized) to get this payment.

    Call them to get this info.

    The fine print is:

    Payment is 169.00. Your total out of pocket is $1573.15 this covers everything, your first month payment, taxes, doc fee, mv fees, and bank acq fee of $595.00

    Score higher than 720 to get Tier 1

    No loyalty and or other rebates needed

    LW
  • thandamilkthandamilk Member Posts: 18
    Thanks for the details. Good on all fronts so far. Will call in first thing tomorrow and try and get in on it.
  • zerolastzerolast Member Posts: 4
    edited February 2011
    Leased a 2011 Black/Black Accord SE 36 months/36k miles from Hugh White Honda in Columbus, OH.

    $239/month (taxes/fees included) with nothing down. Only 35 total payments.

    Had a 2009 Subaru Legacy I traded in and was actually a little surprised they purchased it. The $239 nothing down deal was nailed down before I even broached the subject of a possible trade (saved me a $300 disposition fee and inspection where who knows what they will find). The trade was a definite wash by my extensive research so they did not make much on that end.

    I thought the deal was great, but the service was even better. Could not be happier with my new lease. I looked at Sonata, Optima, etc..., but came back to Honda after trying to deal with the Hyundai/Kia dealerships. They have a lot to learn from Honda.

    Again, Hugh White was excellent.

    Good luck all.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ginterhelsig. Unfortunately, I am not aware of any source that provides accurate information on manufacturers' lease programs to the general public. You generally have to know a lot of people in the industry to find this info out.

    Car_man
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  • ladybug26ladybug26 Member Posts: 2
    To a kind, knowledgeable soul:

    I am going to lease for the first time and was hoping for some advice. Could someone please tell me if the following is a good deal?

    Lease on a 2011 Honda Civic LX auto sedan: $207.86/month with your first payment down plus your DMV fees. (including taxes)

    And, also, what is the best deal you think I could get? My car kicked the bucket and I'm hoping I can stop taking the bus! I'd like to get a lease with $15k year. How much more could I expect that to cost a month? And are there dealer rebates on leases? I read that in a few posts. The dealer I talked with didn't mention that, but maybe it's rolled into the lease price he quoted me?

    Thanks for your help -- I really, really appreciate it :)
  • jaxs1jaxs1 Member Posts: 2,697
    edited February 2011
    If your leased car is damaged in a collision (or anything else (flood, vandals etc.) and not totaled, but instead repaired to the satisfaction of the insurance company by a body shop, is the person returning the car at the end of the lease responsible for any diminished value due to the car having an accident history and/or repainting that reduces the market value of the returned car?
    Is this addressed in Honda Finance's lease terms?

    Even if they do not charge for diminished value directly, I could imagine the leasing company trying to charge you indirectly after inspection by claiming they don't like the repainting or something else about the repair job and charging you damage fees on the already repaired car.
  • leasewizardleasewizard Member Posts: 17
    Get it done at a Honda body shop and you will be OK. Or go to a reputable qualified body shop that does good work. You will not be charged unless the repair is not satisfactory.

    LW
  • leasewizardleasewizard Member Posts: 17
    Hamilton Honda.com

    Civix LX this weekend

    109 month for qualified buyers. 24 month lease 12,000 miles per year,

    tax, tags, MV, bank fee, inceptions are $1485.70 due upfront

    Tier 1 Credit
  • jaxs1jaxs1 Member Posts: 2,697
    edited February 2011
    That may not be enough. Even if the car is repaired properly, there is always a way to tell if any bodywork or repainting was done during inspection and there is usually some record in Carfax or AutoCheck that adds the accident history to the car's report and makes it more difficult to sell. The accident history alone reduces resale value no matter if it was repaired at Honda body shop or not. "Good work" does not remove inherent diminished value.
    The question is whether the lease company can recoup this inherent diminished value from the lessee as part of their lease return charges.
  • leasewizardleasewizard Member Posts: 17
    The question is whether the lease company can recoup this inherent diminished value from the lessee as part of their lease return charges.

    The Answer is: NO

    LW
  • carbuyer786carbuyer786 Member Posts: 2
    Hi Car_man and others,

    I have a 720+ credit and I am looking for the cheapest /month lease for an accord SE. I have called around at several Bay Area dealerships and they are all offering me a $270+ with $450-500 in Dmv etc fees.

    If you can tell me the MF and residual in this area and a reasonable price I should ask for, it would be extremely helpful.

    Thanks and have a great weekend!
  • asianonroute69asianonroute69 Member Posts: 1
    Leased a 2011 Honda Accord EX-L for $238 a month, we traded in a 1999 Toyota Corolla for $2900 that was put towards the $1800 in drive off fees etc and to bring lease payments down. Residual we received based on a credit score above 700 was .57 for 36 months 12,000 miles. The dealer matched the sale price on truecar.com for $24,318 when msrp was $28,105. He also threw in wheel locks for free and included a sunroof visor for free as well, overall I was very happy with this deal. Anyone else think this was a good deal? Also, I live in the bay area.
  • carbuyer786carbuyer786 Member Posts: 2
    Hi all,

    I finally got the Accord 2011 SE with 15k miles for 1515 down. Now I have a payment of 232 including tax for the next 35 months.

    Residual is around 14k 57%. The sale price of the car was 20350.

    What you guys say?

    Thanks,
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    LeaseWizard is right. This is actually one of the major advantages to leasing. Any vehicle that has been in an accident will experience diminished value, however as long as it has been repaired properly the bank that it is being leased through has to eat the eventual loss not the lessee.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi carbuyer786. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan SE with 15,000 miles per year are .00123 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    If I was in the market for this car right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the available cash incentive ($1,250 on leases).

    Car_man
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  • ccqccq Member Posts: 7
    Hi Car_man & all!

    Looking for the current money factor and residual value for a 36 month lease of a 2011 Accord Coupe EX-L with 15,000 miles per year. I plan on closing the deal no later than Monday.

    I want to personally thank you again Car_man for all your help three years ago when I leased my civic ex coupe and say i couldn't have done it without you and the gang!

    Please give me your opinion on the following quote from a local Houston TX dealer on the above mentioned accord:

    2011 Accord Coupe EX-L = 22,776.00
    Destination Fee = 750.00
    Protection Package = 339.00
    Window tint = 150.00
    Accessory: =
    Accessory: =
    Accessory: =
    Accessory: =
    SUB TOTAL = 24,015.00
    Trade in Allowance -
    Trade Difference = 24,015.00
    Sales Tax - 6.25% 1,500.94
    Trade Pay Off = 0.00

    Inventory Tax - .2103 + 50.50
    Documentary Fee + 125.00
    Title, Inspection, License Fee + 134.05
    Extended Warranty (Honda Care) +
    Cash/Finance Total Drive Out = 25,825.49

    This is the final cost of the 2011 Accord Coupe EX-L.

    I am not quite sure as to what the "protection package" is, and was wondering if I should try and get that taken off before closing the deal.

    Thanks again for all of your help!!! I TRULY appreciate it!!! :shades:
  • renanmrenanm Member Posts: 1
    For an Accord Sedan SE 2011 Lease in Northern NJ, I was quoted $250/mo with $0 down and taxes and fees included.

    Car_Man, is that a good deal?

    Thank you so much for your help and time.
  • hondastylehondastyle Member Posts: 1
    Hi Car_man,
    I'm looking to lease a 2011 Accord LX-P for 36 months with 12k miles per yr. Can you please provide me with the money factor and residual?

    Thanks!
  • energymonkeyenergymonkey Member Posts: 11
    I saw the March 2011 Accord lease specials and contacted my local dealer in Ottawa, Illinois. The "special" for a 2011 Accord SE was $209 per month for for 36 months, 12k miles per year. But had to put $1999 down, plus tax, title and license due at signing (about another $2000), for a total of $4k up front. Also offered a price for a 2011 Accord SE of $290/month for 36 months, 12k miles per year. Only first payment due at signing. All taxes, title, license, fees included. Is this $290/month cost a good deal? If not, what is the "right" way to negotiate this lease? Sorry for asking such a broad question, but I have never leased before.
  • mitchbeemitchbee Member Posts: 1
    Offered a deal on Accord LX-P. No money down. First month paid. 35 months remaining on a 12,000 mile a year lease. Out the door for $270.00 including tax per month. Is this a good deal?
  • leasewizardleasewizard Member Posts: 17
    NO! Youare paying too much. You should be closer to $200,

    http://www.hamiltonhonda.net/specials/incentives.htm#

    LX $159 month with $1500 down (includes tax, tags , title and bank fee)

    for 24 months Verified deal

    that is $223 a month for 24 months $0 down

    Your payment should be lower over 36 months

    LW
  • ccqccq Member Posts: 7
    O.K. Gang, here is the best deal I could get and I'm pretty satisfied. I hope it helps someone else out there. I had to stick to what I expected and be prepared to leave before signing the contract, but at 8pm on the last day of the month with the $1250.00 worth of incentives being offered possibly coming to an end, this is what I came away with fairly painlessly! LOL!

    15,000 mile, 36 month lease:

    M.S.R.P. $27,855.00
    Base Cap Cost $23,804.00
    Costs Added to Lease (Tax) $1296.00
    Cap Cost Reductions $1241.00
    Adjusted Cap Cost $23,859.00
    Residual Value $14,763.00
    Money Factor .00068 or 1.63%

    $278.93 a month

    A $1000.00 got me out the door to cover the $741.00 down and $259.00 for Title and License. I received $500.00 over pay off for my 2008 civic as trade, and even got Honda to make the first payment!

    Let me know what you think, and happy hunting! :sick:
  • yungjames808yungjames808 Member Posts: 4
    Leased an Accord Sedan EX-L last day of the month with 12,000 miles per year for $280 X 35, zero due at signing. Good deal I think, best part was dealer bumped me from Standard to the Preferred credit tier to get the .00068 money factor. This is in North Texas, all cars around here have an accessory package installed; mine included tint, pinstripe, mudflaps, door edge guards, trunk tray and wheel locks. Good luck
  • ccqccq Member Posts: 7
    Hey Yungjames808,

    Looks like we got almost the very same deal. Mine was for an EX-L Coupe though, and included 15,000 miles with all the same options and exact payment in the Houston area. I had to kick in $1000.00 though to get that payment. $741.00 down, and the other $259.00 to cover title and license. When you say zero down, did you mean you actually walked out not paying a thing? My dealership stated although tax could be rolled in, title and license by law had to be paid by me. I hope you are enjoying yours as much as I'm enjoying mine. Congrats!
  • yungjames808yungjames808 Member Posts: 4
    Hey ccq,

    Yes very close, I could have bumped the lease up to 15,000 miles per year for about $15/month more. Mine was a true zero down to me, although AHFC made my first payment due to lease loyalty...I'm not sure if the title & license would've made up part of that first payment, but here are the numbers:

    $28,105 MSRP
    $24,036.50 Sales Price (factors in $1,250 in incentives plus dealer add-ons)
    $25,093.11 Adj Cap Cost (includes origination, TT&L, and a bit of negative equity from my Lexus IS)
    Residual 57%
    Money Factor .00068
    $280/month x 36, first month paid by AHFC

    Another advantage I had was zero sales tax rolled in due to my trade value. I hope you enjoy your new coupe...I would've gone for one of those if not for the need of those two extra doors.

    Regards
  • elduro83elduro83 Member Posts: 1
    I'm new at leasing but have been following this forum and doing my own research... I have an offer for an Accord SE with the following...

    MSRP - $25,650
    Sell Price - $20.984

    I can get it for $259.00 a month - With nothing down - zero down all fees included in the price.
    I could have left the lot with the car - but I didn't.
    or
    I can get it for $199.68 a month with $2,000 down.
    It is a 36month lease / 12k miles.

    What do you guys think..? I think either one is a pretty good deal. Would like to get some feedback from the experts !!
    Thanks..
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi renanm. The easiest way to evaluate this deal is to look at this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number it is more difficult to tell how large a dealer discount you are being given, and in turn if there is any room left to negotiate. Let us know what this number is and I'm sure that either myself or another knowledgeable community member will let you know what they think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hondastyle. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan LX-P with 12,000 miles per year are .00113 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your lease on this car, make sure to take advantage of the $1,500 cash incentive that is currently available on leases of it.

    Car_man
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  • ccqccq Member Posts: 7
    Hey yungjames808,

    I think we did really well on both of our leases and know I couldn't have done it without the help of everyone on this site. Thanks again for all the information as well. It's nice to know in the future I should really try to negotiate ALL the fees into the lease with a true nothing down situation. Enjoy that great car!

    Regards :shades:
  • nsmelcernsmelcer Member Posts: 1
    Hello. I am looking for the money factor and residual value for a 2011 Honda Accord sedan LX 5-speed manual transmission. The selling price I've been quoted is supposedly $18,600. I'm trading in my Altima with $4,000 of negative equity. The dealership is telling me that even with a $2700 down payment my monthly payments will be $291 with tax included. Personally I think that's high compared to what I'm reading in this thread. Please advise.
  • bizunitbizunit Member Posts: 5
    edited March 2011
    Hello.
    Having only leased one other Car I am somewhat new to the leasing world and what alot of this means, how does this look and what should I do if this seems high? Thank You, there is some great info on here.

    $275.00/mth (no cash back) tax is already in monthly price.
    $321.88/mth (with 1500 cash back to pay off existing lease)
    36mth, 15k miles, Zero down

    MSRP 24,480
    Sale Price 21418 (22991 with 1500 back)
    Residual 14,128 56%
    Factor .00103
    Adjusted Cap cost 24,291
    Interest Factor - APR - 3.522%
    6.5% sales tax
    Ohio, Trumbull county
  • njtechwarriornjtechwarrior Member Posts: 12
    Hi Carman, can you please post the MF and residual for a 2011 Honda Accord Sedan EX-L V6 on a 36 month 12k mile lease?

    Please advise any incentives applicable to a lease for a current Honda owner.

    Thanks!
  • bratvabratva Member Posts: 22
    Hi Car_Man,

    Could you please post Money Factor and Residual #s for 2011 Accord Sedan EX-L ? 12k miles a year.

    also, are there any special incentives i should be aware of on this car? I am planning to lease one for my parents by the end of the month.

    Thank you!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited March 2011
    Hello nsmelcer. Honda Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan LX MT with 15,000 miles per year are .00113 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your lease on this car, make sure to take advantage of the $1,500 cash incentive that is currently available on it.

    The reason why the payment that you were quoted is so high is the $4,000 in negative equity that you're trying to roll into your new lease. You would be better off waiting until you are less upside down on your Altima to get something new. If you absolutely have to get a new car now, shoot for a selling price of a couple hundred dollars over dealer invoice minus the aforementioned cash incentive.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome bizunit. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    The money factor that you were quoted looks good, but the car's selling price is too high. The dealer invoice price for an '11 Accord Sedan SE is $21,518. I would shoot for a selling price of a couple hundred dollars over that minus the $1,500 cash incentive.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey njtechwarrior. Honda Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L V6 with 12,000 miles per year are .00062 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda currently has a $1,500 cash incentive on leases of this car for everyone plus the waiver of the first month's payment for current Honda owners who lease a new one.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to bratva. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Accord Sedan EX-L 4-cylinder with 12,000 miles per year are .00062 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing a $1,500 cash incentive on leases of this car.

    Car_man
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  • bratvabratva Member Posts: 22
    edited March 2011
    Hi Car_Man

    Here is what I am being offered could you tell me if the #s look fine?

    Honda Accord Sedan EX-L
    MRSP: $28,105 (includes destination)
    Buy Price: $23,467 (includes destination)
    Term: 36 months / 12k year
    Money Factor: .00052
    Residual: 56%
    Acquisition fee: $595
    Down Payment: $0
    Deposit: $0

    Drive Off: $442 (registration and fees)

    Dealer pays 1st month payment....

    my part is 35 payments of $275.20 including tax (my tax rate is 9.25)
  • eufeeufe Member Posts: 2
    My wife and I just test drove and EX-L.
    MSRP 28105
    Negotiated or sticker price 24191
    Residual 54%
    MF .00062
    San Diego sales tax 8.75

    With sales tax 299/month.
    Good deal? Can we get a.higher residual? ">
  • jpljpl Member Posts: 36
    Hi: Have an 08 Accord about to come off-lease, looking for 2011 Accord EX-L, adding Remote-Start, being offered $299 per month NET, with $1000 down. Anyone in NY (LI) area have any recent quotes on 11 Accord EX-L lately? Thanks.

    jpl
  • mfigueroa713mfigueroa713 Member Posts: 1
    Huntington said they will lease an EX Accord to me for 3000 down which includes taxes and dealer fees, 109/month.
  • chloetanchloetan Member Posts: 11
    Hi All,
    Does anyone knows if there's a 12 - 24 months short term lease offered on 2011 Accord Coupe?

    Thanks~
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bratva. The money factor that you were quoted looks great. It's right in line with Honda Finance's current buy rate for this model.

    As far as the other important aspect of this deal, the selling price, goes...the dealer invoice price of a 2011 Accord Sedan EX-L 4-cylinder is $25,544. If we subtract the $1,500 in cash incentives that is currently available on this car from that, the invoice price drops to around $23,944. The selling price that you were quoted is even lower than that, so you're getting a very good deal.

    If you like the car, I personally don't see any reason not to go for it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi eufe. The money factor and selling price that you were quoted look good. If you like the car, go for it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chloetan. Honda Finance definitely offers 24 month leases, but I don't think that it has 12 month leases. You an always check with a dealer to make certain that is the case.

    Car_man
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  • ski12ski12 Member Posts: 1
    Just locked in a 36-month lease for a 2011 Accord SE:

    MSRP $25230
    Price $20600 + $595 Acq Fee
    0.00113 Money Factor (2.7%)
    Residual $14129 (56%)
    Total Down = $595, including first payment
    Monthly = $236 + tax

    Happy Hunting
  • rcr5035rcr5035 Member Posts: 1
    Here's what I was offered for a 2011 Crosstour 4WD EX-L and was wondering if it's a good deal...

    12k miles, 36 mos.
    MSRP: $34,500
    Selling Price: $30,500
    Money Factor: .00052
    Residual: .58

    They offered me a monthly payment of $357...$0 down

    What do you think?
  • htownpimp786htownpimp786 Member Posts: 80
    Hi,

    Just wanted to see if this was a good deal. Got a deal running on a 2011 Honda Accord LX-S as follows:

    $24,330 MSRP
    $22,133 Invoice

    My price $20,300 plus $200 for tint (at cost) = $20,500 plus TT&L out the door.

    Pretty good deal? I know there are $1250-$1500 in incentives on the car. So with the $1500 incentive included, I am about $1833 under on the car (not including tint).

    I got payments at $250.86/month for 36 months at 15,000 miles a year putting $1480 down (including first months payment.)

    Was told Money Factor is .00113 (Rent Charge = $1380.40) and residual is 54%. Adjusted Cap Cost 20,788.76 including all taxes, fees, money down, etc.

    Good deal? I wasn't so sure about the residual at 54% as opposed to 56-58% I read elsewhere but wasn't sure if that impacts anything in a major way?
  • arunt71arunt71 Member Posts: 22
    A dealer is advertising 2011 Accord EX $229/mo plus tax! (*IN STOCK VEHICLES ONLY. ALL LEASES INCLUDE DESTINATION FEES.  TAX, TITLE, LEMON LAW, FIRST PAYMENT ARE ADDITIONAL. ALL LEASES REQUIRE $0 DOWN PAYMENT.  2011 ACCORD EX SEDAN WITH AUTOMATIC TRANSMISSION LEASE, 36 X $229, 58% RESIDUA)

    I went to the dealer to check, whether he can offer me this lease or not. Pls notice this 36 X 229 Plus tax, tag, Title.

    After 1 hr of discussion, this is what he offered me (He had the tough time taking off the doc fee):

    Accord EX 2011

    MSRP 24755 +750 (Destination) but excl dealer options, I told him, I will not pay for that)

    35 payments of 229 Plus 15 (Tax - 7% - GA) - total 245

    and 330 as initial payment at sign off, which includes :

    First payment with tax - 245 +
    tag & title (31 + 54) - 85
    Total - 330 due at signing.

    Also, Pls let me know - Does Honda allows MULTIPLE DEPOSITS, I would like to save on the finance fee (part of the lease) by making making max (upto 9 ) deposits and bring down the monthly payment.

    Carman pls let me know what you think, Should I jump on this or wait.

    Thanks in advance
  • kyfdxkyfdx Moderator Posts: 236,810
    Honda Finance doesn't do multiple security deposits..

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