Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

2013 and earlier-Honda Accord Lease Questions

1…9192949697…110

Comments

  • golf213golf213 Member Posts: 1
    Please tell me if you think this is a good lease deal...or if I can do better...

    2012 Honda Accord LX
    36 month lease
    15,000 miles / year
    $1,700 up front (includes first month payment, tax, inception, etc. dealership was not really clear on the rest)
    Monthly Payment (after tax): $290

    This is in Miami.

    Also important is that as part of this, the dealership would be buying out my 2010 Ford Fusion which has 75,000 miles on it...and has $9,000 left on it (to pay off).

    Thoughts?

    THANKS!
  • landofandlandofand Member Posts: 19
    golf213

    don't ever talk to this dealership again. they are laughing at how stupid they think you are. good thing you have friends here on Edmunds.

    your lease should costs you maybe $200/mo with $0 down
    i got an SE last month for $212/mo, $0 down and 15k/yr

    You are paying almost $5k more for the LX which costs about $2k less than my SE. so unless you are selling your Fusion for $2k......

    Piece of advice, negotiate the sale separately from the trade in. don't let the dealership know that you have a trade-in, because they always will merge the two together and you will always do worse off.

    if you can't get sale price on your accord lx less than $19k, then call someone else. The lease is based on selling price, minus residual - which is set by honda financial (based on term and mileage). I actually flew from michigan to Baltimore to buy mine (save me $2500 and well worth it)
  • marie99marie99 Member Posts: 21
    Here is an ad from New Jersey to give you an idea of what is being offered elsewhere. http://www.hamiltonhonda.net/newspaper-ads.htm

    I leased an LX for $0 down $149 a month, 36 months, 12,000 miles per year at the end of April. Around $1600 taxes, tags, dealer prep up front, Honda paid first month and free oil changes and car washes. Now they raised it to $179 a month at this dealership. I know you are in Florida but I wanted to let you know what is happening in other parts of the country.
  • briank84briank84 Member Posts: 7
    edited June 2012
    I will let you know that with a Honda paying money up front isn't a big deal as it will be covered, as GAP insurance is part of a Honda lease. Guys stop spreading misinformation.

    He's also located in New York where GAP insurance is required by law.

    Anyway I found Honda of New Rochelle to be a joke with their "we'll beat any prices, but they never do"

    Call Plaza Honda, their leasing department offered me a one pay lease of $5780 all in (transfer of plates, not new plates) (27 months, 15,000 mi/yr, so 33,750 mi total). Don't call their regular sales department, they are garbage and refuse to even give you a quote via email, but the salesman from the leasing department was good. I'm going to pick it up on Thursday, hopefully it goes smoothly.
  • jett456jett456 Member Posts: 50
    That isn't what GAP insurance is.
    http://www.leasecompare.com/autolease101_6.php
  • sergeymsergeym Member Posts: 283
    edited June 2012
    All I can say - good luck with recovering that $5,780 if your car gets stolen or totaled next day after you take delivery, especially the sales tax and doc fees.
  • kyfdxkyfdx Moderator Posts: 236,681
    Ditto...

    GAP doesn't cover your downpayment...

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • gpsacgpsac Member Posts: 98
    You leased an 2012 LX automatic for 36 mo. @ $149 and all you came up with was $1600?
  • gpsacgpsac Member Posts: 98
    GAP coverage protects you from being "upside down" in the event of a theft or accident if the vehicle is totaled and the value is less than the pay-off.

    If you lease a $20,000 car with 0 down, your pay-off is $20,000 when you drive off the lot. If you pre-pay $5,000 (payments upfront or down payment) then your pay-off is $15,000 when driving off the lot.

    GAP only covers your obligation to the lender.
  • sergeymsergeym Member Posts: 283
    edited June 2012
    Looks like some people just cannot read.

    The deal looks very good though.

    Anyway, does anyone knows why dealers push this "one up front payment" lease? Why would they care? They get their sale price not your payments, those go to AHFS.
  • barry69barry69 Member Posts: 6
    Leased a brand new 2012 Accord EXL 4-Cyl yesterday. They paid the last 3 payments of our civic, which came to about $1000. We put nothing down and they paid our first payment. Sign and drive without spending a dime on a 36 month lease.

    $317/mo after taxes, etc.

    Toledo, Ohio

    The MSRP was $28,500 but the dealer listed the cost at around $25,500.

    Hope that helps someone. The event at my local dealer is supposed to end Monday. We went to look at swapping our Civic for a CRV, but the leases on the CRVs are just terrible compared to an equally priced Accord. The new CRVs are awesome though. Our quote on the CRV EXL was $460/mo...MSRP was $29325.
  • gpsacgpsac Member Posts: 98
    Money down or all payments up front is just another negotiating tool for the dealership. Years ago when the rates were much higher some manufacturers discounted the rate for making all payments in advance. When contracted, it's basically shown as down payment.

    It's all about math. With rates as low as they are today it is harder to justify pre-paying. Looking at the EX special of $270 @ 36mo., if one were to pay the depreciation of $8959 up front, they would save $14 - $15 a month or roughly $500 over 36mo. Worth it to some. Not to some.
  • marie99marie99 Member Posts: 21
    It was actually $1645 up front [taxes, acquisition fees., tags, doc fees]. $149 for 35 months, Honda paid first month. 12,000 miles per year.
    MSRP: $22,280
    Cost: $17,790
    residual: $13,149.90
    Hamilton Honda - New Jersey

    I don't see them offering this deal at this time. I leased at the end of April.
  • gpsacgpsac Member Posts: 98
    Well, unless you also had a trade or New Jersey Honda dealers are getting more cash from American Honda than the $1250 I've seen posted here, that is an incredible deal! Roughly $1200 below their cost.

    Since you didn't break down the $1645 one can assume approximately $945 is down payment or doc fee (either way it works out the same) $595 acq fee and $105 New Jersey registration (avg).
  • marie99marie99 Member Posts: 21
    No trade in.
    It was $249 Doc fee
    $595 Bank acq.
    $723.79 listed as Rent charge? Is this tax?

    NJ reg. - not sure of the total

    My total cost for 36 months is $7009 plus free oil changes and car washes. I'm happy with my deal.

    This is a newer dealership and they want customer loyalty. This is what I was told.
  • gpsacgpsac Member Posts: 98
    You should be happy! :). Great deal. Even if NJ dealers are getting double cash (2500) you still drove out at right about their cost.

    The rent charge is the interest portion of the lease payment. Being a lease they can't call it interest but that's basically what it is.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome viper711. That fee is a little on the high side, but I've seen worse. As long as you're close to invoice minus any available cash incentives the fee's not really a big deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome sparty22.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • viper711viper711 Member Posts: 6
    Just to update: I ended up with the following deal

    2012 Accord LX 5spd
    $0 Down, dealer paid all inception fees
    35 Payments @ 195/mo
    12,000 miles / year
  • nun45nun45 Member Posts: 1
    Which dealer in Baltimore I am originally from Baltimore and currently in Michigan . I am looking for an se at a great deal,
  • mannyhmannyh Member Posts: 1
    I went into a dealership today and made the same offer on an Accord LX. Their best counter offer was $1,000 down $196/month for 39 months and only 10K mileage per year. The same dealership last month willing to go $1,000 down $180/month on a LX for 36 months and 12K mileage per year. Does your deal include tax?
  • pupper4pupper4 Member Posts: 6
    Looking for July money factor and residual on Honda Accord LX-P, SE, and EX-L for both 12,000 and 15,000 miles.

    Thanks
  • jnguyen115jnguyen115 Member Posts: 1
    This is my first time leasing a car so I would appreciate any input on whether I'm getting a good deal. I am providing as much info as possible but let me know if you need to know more.

    2012 Honda Accord Coupe EX-L v4 without navi

    Price: $23,900, includes mud guard, wheel locks and trunk tray
    Rate: .00065
    Residual: .53
    Adj Res: $14,943.35
    Doc Fee: $80
    Govt' Fees: $261.75
    Taxes: $814 (7.75%)

    This is with $3,000 down, 12,000 mi/yr. Payments would be $245.08/mo after taxes.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pupper4. Honda's June programs are scheduled to run through July 9th. Please feel free to check back with me in a couple of days and I'll gladly fill you in on what I have been able to find out about the new July numbers when they are released.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jnguyen115. The money factor that you were quoted on this car looks good. It's right in line with Honda Finance's current buy rate for it.

    The selling price looks excellent as well. I believe that is below dealer invoice minus the $1,250 dealer cash that is currently available on this model.

    The only think that I don't like about this deal is the large down payment that you are making...and that isn't as much a reflection upon how good a deal you are getting as it is a matter of personal preference. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. It's much safer to go with a zero down lease.

    Again this is a good deal, but try to lease with a lower down payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • squirrelmattersquirrelmatter Member Posts: 1
    How does this sound?

    2012 accord sedan EX
    3 year lease
    12k miles per year

    $0 down
    $296/mo (includes all taxes and fees for PA/Philly)
  • ihitcowsihitcows Member Posts: 74
    I'm lookin' for this month's residual percentage and money factor for a 36-month (39-month if ya got 'em) lease of a 2012 Honda Accord Sedan EX-L V4 w/ Navigation. 15k per year :)
  • kayc2kayc2 Member Posts: 2
    Hello,
    Would you be able to share the updated Money Factor and Residual for a 2012 Accord at 36 months/12,000 miles in Massachusetts? I heard the programs were changing as of July 10.

    Many thanks!
  • muzrinmuzrin Member Posts: 8
    Hi, Saw this ad on planet honda and it looks good http://www.planethondanj.com/honda_accord.htm.

    Was planning to approach them but am sure there is a catch here . They mention the
    25% off promotion only available to customers who qualify at Super Preferred or Preferred tiers through primary lender. Not sure what super preferred score is. Wonder if anyone has leased from here and if so could you pls share experiences pls.

    Cheers
  • sergeymsergeym Member Posts: 283
    FICO 710+ is Honda Super Prefered.
    The add does not look real to me though. If this is a program from Honda it would be available at any dealership.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey ihitcows. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan EX-L 4-cylinder with 15,000 miles per year are .00046 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    You definitely do not want to lease this for 39-months...its special lease money factors are only available for up to 36.

    When negotiating your car's selling price shoot for a selling price that's pretty close to dealer invoice minus the available $1,250 dealer cash.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly can kayc2. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 202 Accord Sedan EX 4-cyl. with 12,000 miles per year are .00046 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    There is $1,250 dealer cash on this car right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right, SergeyM, that is not an official Honda lease program. One is definitely best off negotiating a selling price of right around dealer invoice minus the $1,250 dealer cash and the use of the buy rate lease money factor and forgetting about all of the dealer funny business.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mikeymikeymikeymikey Member Posts: 4
    Is the buy reate lease money factor the same as money factor? If not, what is the difference?
    Also, can someone please provide the residual value and money factor for 2012 Accord LX Sedan?

    Thanks
  • mikeymikeymikeymikey Member Posts: 4
    I see your point about putting little money down. So, are you recommending that if I have a trade-in, I should sell it privately and not as part of the lease?
    Thanks!
  • mikedevil77mikedevil77 Member Posts: 1
    Just starting out. Sending emails to dealerships all over NJ. This is the first bite I got. Need at least 15k miles, also thinking about buying.

    2012 Honda Accord EXL Automatic Sedan for 36 months with 15,000 miles per year:

    With $1000 out of pocket, your monthly payment would be $290/month including tax.
    With $2000 out of pocket, your monthly payment would be $260/month including tax.
    With $3000 out of pocket, your monthly payment would be $230/month including tax.

    Thoughts? Advice?
  • davidc12davidc12 Member Posts: 3
    Here's a great tool I found when shopping for my Accord. They have a very cool finance and lease calculator and great prices. I'm in Atlanta so I just used them as a reference:

    http://www.weymouthhonda.com/lease/?&leasetype=2&code=CS1B8CJNW&view=detailed
  • pegasus17pegasus17 Member Posts: 536
    REF: 4764
    A price comparison for you from Ohio. Scroll down this "specials" page to see your EX-L model. Then add an additional $17 per month for 15k per year vice 12k. Your initial prices are high IMO.
    http://www.vosshonda.com/specials/index.htm
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, mikeymikey. The buy rate lease money factor is the lowest possible money factor that is available on a given vehicle. I always say buy rate because dealers are often allowed to mark up banks' published lease money factors to add additional hidden profit to deals. That sort of thing is not really that common on an Accord, but it is very common with luxury makes like BMW and Mercedes-Benz.

    Honda Finance's current lease money factor and residual value for a 36-month lease of a 2012 Accord Sedan LX with 15,000 miles per year are .00046 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • gsamuelsongsamuelson Member Posts: 5
    edited July 2012
    I am interested in leasing the Accord LX sedan with auto transmission and wanted to know if $169.00 per month on 36 months and 12k miles per year + $1556.00 out of pocket was a good deal. The out of pocket is the taxes on 36 monthly payments = 539.96 NYC taxes of 8.875 percent. The bank fee of 595 + 52.81 taxes, 1st month payment of 169.00 and 200.00 for plates and registration. Totaling $7471 over the entire lease term including the out of pocket.Thanks all
  • pegasus17pegasus17 Member Posts: 536
    carman,
    Need mf and residual for July on lease for EXL-V6 (msrp 30400), excellent credit, 12k per year, 36 months
    THX
  • tmzn32tmzn32 Member Posts: 6
    edited July 2012
    Hey guys, just looking for some insight on the following deal.
    2012 Honda Accord EX Manual Black on Black
    MSRP $25,195.00
    Discounted Price- $21,424.00
    Absolutely no money down
    36month/36k
    $240/month, or $255/month with the wing spoiler I wanted
    Wheel lock and mud guards both included (installed)

    My question is if this is a good deal, how can I convert the same to a Purchase deal (as in no lease). I have great credit, so what can I expect my monthly payments to be if I purchased it? This is my first new car im leasing/purchasing, so I'm a little scared to go to the dealer and work out the contract (not confident I will get a good deal) :confuse: . Any insight is greatly appreciated.
  • pegasus17pegasus17 Member Posts: 536
    REF: 4770
    240 is a bit high for an EX manual. try using this:

    http://www.leaseguide.com/calc.htm

    you will need the money factor and residual % but you should know them anyway if you are leasing (first timers especially). I doubt the spoiler is being residualized so you are paying for it entirely in the extra 15/month. Makes no financial sense unless you are a teenager and this is your p-mobile. good luck...
  • tmzn32tmzn32 Member Posts: 6
    edited July 2012
    Yes I used a 57% residual, .00046 money factor (thanks to carman), and that yields 226/month. The 240 is all inclusive, includes taxes and fees.
    I am not a teenager. I just graduated college and have an engineering job, but I'm still debating between leasing and buying. I drive close to or less than 10k a year, and I dont beat the hell out of my vehicles. I seem to change my mind every day. I know about their graduate program they have going on with the 0.9% APR for 36 month purchase, and the 1.9% for 37-60 month purchase, which seems to be quite a good deal. I can still keep relatively low monthly payments, with little to no money down.
    Thanks for the response, and let me know if that 240 (being all inclusive) is good. Would the dealer keep that sell price if I decided to finance a purchase? I would think so.
  • pegasus17pegasus17 Member Posts: 536
    REF: 4772
    I get a pre-tax monthly of 229.46 using a 595 acq fee and all other numbers from your post. Did you include the acq fee charged by honda Finance?
    Re the price: Pricing for a lease vs a buy could be different depending on the current incentives; sometimes there is lease cash vs a lower loan rate for a purchase - it depends. Not knowing your tax rate (state) and the bs fees they MAY be adding on, it is hard to tell. Overall, any time you can lease for less than $10 per $1000 of MSRP on a standard 3/36k lease, that is a very good deal.
  • tmzn32tmzn32 Member Posts: 6
    Yes, I was told that its everything included AFTER taxes, comes to 240 a month. By everything included I mean after the fees they charge.
  • pegasus17pegasus17 Member Posts: 536
    I would ask for full disclosure of fees and taxes so you can make sure they are reasonable before you sign papers in the finance office. Otherwise it's too late...
  • tmzn32tmzn32 Member Posts: 6
    Yes before I sign the papers. They assured that it's no money down, and fees and taxes are built into monthly quote. What do you think?
  • pegasus17pegasus17 Member Posts: 536
    Provided you are proficient in driving a stick (I live in the city so it wouldn't work for me), i'd still try to get them down to 225/month and settle on 235 or 240 if you had to. it's getting near the end of the month so their quota issue becomes relevant. As i said before, any time you can lease for less than $10 per 1000 dollars of msrp, it is a deal. Good luck
  • 2012accordse2012accordse Member Posts: 1
    2012 Accord SE Lease

    $209 including 7% sales tax and honda paying first month.

    $0 down. First payment in 31 days. 35 payments.

    Gwinnett Honda. Contact internet sales.

    They didn't like giving me the deal but they were easy to deal with and treated me nice.
This discussion has been closed.

Helpful Tools

Most popular vehicles