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2013 and earlier-Honda Accord Lease Questions

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  • refrunnerrefrunner Member Posts: 7
    Car Man, do you have the MF and residuals for 12K miles and both 24 and 36 months for a 2012 EXL V-6? Also, do you have the rebates available and any dealer support money on this car for November? Thanks, your information is great.
  • ejosh87ejosh87 Member Posts: 12
    Does anyone know the November money factor and residual for the 2013 Honda Accord EX-L V6?

    Thank you in advance
  • tito210_nyctito210_nyc Member Posts: 2
    Planet Honda - New Jersey

    Model #CP2E3CEW, 4 dr, 4 cyl, automatic transmission, p/s/b, MSRP $23,270. $169/mo lease. $0 down payment + $159 first month's payment + $0 sec dep + $795 bank fee = $954 due at signing + tax, tags, fees, etch and any dealer-installed options.

    Ttl Pymt/Residual: $6,201/$14,660. 10k mi/yr/ .20¢/mi.over. 39 month lease. Closed end lease for 720+ FICO score lessees. One year Olympicare Maintenance plan includes two oil changes and one tire rotation.

    Payments not to exceed $300/mo to be made by Planet Honda through reduction in amount due at signing. Does Not Require Loyalty or Conquest to Qualify. Not responsible for typographical errors. Cannot be combined with any other discounts or offers. Subject to availability.
  • gee22gee22 Member Posts: 82
    That ad has been around for a while now. Standard lease add where there is no mention of the other fees you will need to pay (documentation, marketing, etc.) Don't expect to pay just $954 at signing for such a low monthly rate.
    Based on the $795 bank fee, you will be dealing with a third party leasing company (Honda Finance's fee is $595). They will probably be charging you for excess wear and tear that would be considered normal wear and tear by Honda Financial. I'm willing to bet their lease end disposition fees will be higher than Honda Finance too. Third party leasing companies are in it to make money on this deal, they are not trying to win your future business too.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hallja. Honda Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Coupe EX-L V6 with Navigation and 12,000 miles per year are .00155 and 56%, for consumers who qualify for its top credit tier.

    I'm not sure if Honda Finance offers Accord leases with only 10,000 miles per year, but if it does the residual value for one would be 1% higher.

    You can use the pricing data that's available in the New Vehicle Pricing section of Edmunds.com and the formula that's outlined in the following article to work up a payment on this car: Calculate Your Own Lease Payment.

    i>Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go refrunner. Honda Finance's November buy rate lease money factor and residual value for a 24-month lease of a 2012 Accord Sedan EX-L V6 without navigation with 12,000 miles per year are .00021 and 56% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00021 and 49%.

    There is a total of $2,250 dealer cash on this car right now.

    i>Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Certainly ejosh87. Honda Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Sedan EX-L V6 without navigaiton with 15,000 miles per year are .00155 and 58% for consumers who qualify for its top credit tier.

    i>Car_man
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  • i_love_hondasi_love_hondas Member Posts: 1
    Residual: $13,480
    Annual mileage: 12,000
    Lease term: 36 payments

    I will end up putting on more than that due to an unexpected job change.

    I owned my last Honda for 12 yrs and did a lease/purchase conversion many yrs ago.

    My contract states:
    Excessive Wear and Use: I may be charged for excessive wear baed on Lessor's standards for normal use and for mileage in excess of 12,000 miles per year at the rate of .15-cents per mile.

    Purchase Option at End of Lease Term: I have an option to purchase the Vehicle AS-IS, Where-IS at the end of the Lease Term for $13,480, PLUS any required taxes and fees.

    If I exceed my mileage allowance of 12,000 miles and decide to wait til the end of the lease term to purchase it, will I be penalized?

    Am I better off trying to convert this lease NOW to a purchase by taking a loan with my Credit Union? They have great rates for pre-owned cars.

    I am the original owner and will do what I did with my last Honda, keep maintenance and records. This car may be a decent one to keep since my last one was a Civic and this one is an Accord.

    Does anyone have any feedback? Anything else I should be aware of? :shades:
  • dcf1955dcf1955 Member Posts: 41
    Hi CarMan - do you have the MF rate and residual for a 2013 Accord Coupe EX 4 cylinder Manual on a 36 month 12k/yr lease. Does Honda have a 24 month lease deal on the same car? Thanks!
  • sean_cornilsean_cornil Member Posts: 5
    edited November 2012
    Thank you so much for the reply Car_Man! It was very helpfull!

    One more question if you don't mind. Can the residual value be affected if I choose manual transmission or automatic? With any car? I remember a dealer once telling me the manual will be a higher lease payment because it is usually harder to sell a manual trans car when I return it at the end of the lease.

    If it is affected, what is the residual and MF for a 2013 accord sport manual transmission 36mo 12,000 per year.

    Thanks again!
  • landonfreemanlandonfreeman Member Posts: 1
    What is a fair money factor and residual for leasing a 2013 Honda Accord Coupe (MSRP $31,140) with a 42 month term at 18k miles per year?

    Is a money factor of .0017 and a residual of 48% completely out of the question? Or are those realistic figures?

    Thanks,
    Landon
  • syrsyr Member Posts: 10
    This is the most useful response I have read in a while :)
    Thank you gee22.
  • gpsacgpsac Member Posts: 98
    If you purchase the vehicle at lease end, ther are no fees for damage or mileage. These only come into play if you are returning the car to the lessor after your obligation is complete.
  • gpsacgpsac Member Posts: 98
    Not sure I understand the question or whether it has an answer. The residual has nothing to do with "fair". It is what it is. Based on the historical resale value of a particular vehicle. Now the manufacturer may at times pay the lessor (lender: Honda Finance) to bump it up. No different than they will buy the interest rate down.

    History and competition drive what these numbers are.
  • psanderspsanders Member Posts: 13
    Hi Car man,

    I'm interested in leasing a 2013 Accord sedan--the LX with auto transmission and no Sport Mode. Can you please tell me the December 2012 money factor and residual value for a 36-month lease (12,000 miles per year)?

    Also, do you think I might get a better deal now (Dec. 2012) or next month (Jan. 2013)?

    Thanks.
    psanders
  • pegasus17pegasus17 Member Posts: 536
    For any info on Honda leases, this dealer posts all the numbers as part of their lease calculator. It is amazing and simple to use. Too bad they are the only one in the nation to do this. I don't live in Mass. nor am i affiliated with them...

    http://www.weymouthhonda.com/lease
  • psanderspsanders Member Posts: 13
    Thanks for the link! You're right--more dealers should do this.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dcf1955. Honda Finance's current buy rate lease money factor and residual value for a 24-month lease of a 2013 Accord Coupe EX 4-cylinder with 12,000 miles per year are .00155 and 68% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00155 and 61%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome sean_cornil. While the transmission that a vehicle is equipped with does sometimes affect its lease program, that's not the case on Hondas. Its residual values are the same for manual and automatic vehicles right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Landon. If your credit is in good shape and you qualify for Honda Finance's "Super Preferred" credit tier, you should look for a factor of around .00155.

    Car_man
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  • bojaker95bojaker95 Member Posts: 2
    If I am thinking about keeping a lease @ maturity for a 2013 accorde would it be helpful to get a lower residual by taking a 15k/yr mi. Option vs. 12k?
  • bojaker95bojaker95 Member Posts: 2
    Our 2010 civic lease matures 2/27 & we think we will step up to the Accor ex. We also have an '08 Camry (no loans) & thinking of getting a 2-3 yr lease to replace the civic until we retire in 2-3 yrs & plan to only own 1 car at that time. Would it be gd to put 3-4k down on 2-3 yr accord lease, keep a low paymt of $200'sh & decide which car to keep or sell in 2-3 yrs? Any ideas?

    Joe
  • kyfdxkyfdx Moderator Posts: 236,527
    It would be a wash, either way... If you take the 15K/yr, you'll pay more each month, but a lower residual... which will almost exactly cancel out..

    Better to match your lease parameters to what you actually need, so that the decision to buy or turn-in at lease end is based on what makes the most sense at that time..

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

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  • marbetd77marbetd77 Member Posts: 13
    Looking to lease the 2013 Accord EX, no rush. What are dealer incentives/cash now, and any indication better incentives will arise January-February?
    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi psanders. Honda Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Sedan LX 4-cylinder with 12,000 miles per year are .00155 and 63%, for consumers who qualify for its top credit tier.

    It's difficult to say what this car's lease program will be like in January. Honda is not providing any lease support on it right now, so you aren't risking missing out on anything by waiting. However, it is possible that this vehicle's residual values would fall when the next quarter begins, making it slightly more expensive to lease. Whether it is better to get one now or waits depends upon whether Honda introduces lease support on it next month or not. Eventually they will, but I personally would guess that it wouldn't be in January. If that is indeed the case then it would be better to get one at the end of the year.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi marbetd77. Honda is not providing any support at all cash or lease on the redesigned Accord right now. You aren't risking missing out on anything by waiting, but it is possible that this vehicle's residual values would fall when the next quarter begins, making it slightly more expensive to lease. Whether it is better to get one now or waits depends upon whether Honda introduces lease support on it next month or not. Eventually they will, there's always support on the high-volume Accord, but I personally would guess that it wouldn't be in January. If that is indeed the case then it would be better to get one at the end of the year.

    Car_man
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  • redbone55redbone55 Member Posts: 43
    Hi: I'm looking for current residual value for 2013 Accord coupe LX-S. Also, what would be considered a good lease deal for 36 months, 12K miles per year? Live in Franklin County Ohio 6.75% tax and only looking to put down first month and fees.

    Thanks.
  • psanderspsanders Member Posts: 13
    Thanks, Car_man.
  • mtan1mtan1 Member Posts: 3
    I am new at this negotiation thing. However I did do a good job in 2010 when I leased my Honda Accord EX-L. I am kind of stumped as to what to do next. I went on Edmunds and put out the email to the dealers in my area (Arizona). I would like a 2013 Honda Accord EX-L ideally. I also wanted to get the pricing for the other models as well. So I asked to respond with the lease rates for 15,000 miles, 36 month lease, tier 1 (800 credit score) credit. I also asked for $0 down pricing. The response I got from one dealer was amazingly high, based on what I have been reading on this blog and the lease calculator that was posted I think yesterday (link below)....

    http://www.weymouthhonda.com/lease

    Anyway, here is what I got from one dealer.
    2013 Accord EX-L = $469 / Month + Tax
    2013 Accord LX = $375 / Month + Tax
    2013 Accord Sport + $406 / Month + Tax

    The other dealer gave me:
    2013 Honda Accord EX-L
    MSRP - $28,785.00
    Your Selling Price - $26,000.00

    Monthly payment - $408.07.

    This price has a savings of $2,785.00

    Both are too high based on my research of the blog etc. So what do I do from here? What should my target price be for a $0 down lease 15,000 miles, 36 months, tier 1 credit (800 score), Honda Accord EX-L.

    Thank you for your help.
  • pegasus17pegasus17 Member Posts: 536
    REF: 4907
    Make an offer in writing close to the Weymouth lease numbers for the car you want. Remember that the doc fee is completely negotiable (i.e., optional) in AZ so don't let them BS you with that. Be prepared to WALK OUT if they won't deal. Nothing has changed in the lease GAME since 2010...Good Luck!
  • mtan1mtan1 Member Posts: 3
    Thank you so much for your help! I really appreciate it! You say close... what would you do $25 under the Weymouth lease numbers more? less? What is reasonable for negotiations?

    Thanks again!
  • pegasus17pegasus17 Member Posts: 536
    REF: 4909
    The Weymouth numbers are very competitive. Remember, that their doc fee is required up front whereas the AZ fee is totally negotiable. I would shoot for no more than $10/month over the weymouth numbers. Be prepared to make a deal on-the-spot or walk. The end-of-the-month is a better negotiating position than now...
  • jcarlosjcarlos Member Posts: 8
    Hi Car_Man

    I got this quote for a 2013 Sport Honda Accord Sedan:

    $290 a month for a 3-year lease
    $700 only payment due at signing which includes first payment and all DMV fees in NYC.

    No other fee. Again, only $700 down and $290 thereafter for 35 months.

    Is this a good deal?

    Thanks in advance.

    JC
  • hithit Member Posts: 36
    edited December 2012
    Hey,

    So I am assisting a relative who has been having trouble with dealers with his 2013 Accord LX lease. I've looked around and I didn't see the answers, so please advise on the following:

    How much over/under invoice should I ask for the selling price of the car to be?
    Any incentives currently in place on the Accord LX? (I didn't see anything online, but maybe there's something I'm missing)
    He has an expiring Honda lease, any loyalty credits or related incentives?
    The posted rates I've found are: LX - 63% AND .00155 FOR 12,000 MILES/36 months .. are these accurate? Are there rates available for a 10,000 mile lease since he drives under 10k miles annually...?
    The Honda Finance fee I've seen posted is $595, any other costs to expect when leasing?

    And is there anything else one should be aware of when proceeding with this vehicle??

    Thanks very much! :)
  • pegasus17pegasus17 Member Posts: 536
    REF: 4912 (2013)
    The best tool and info for Honda leases is available at the Weymouth Honda web site. They are the only dealer in the nation whose lease data is transparent and current. Start there and build your case (quote) based on your particular state fees and tax rates.
  • hithit Member Posts: 36
    edited December 2012
    Thanks for the response pegasus17... Their tool is useful, but I can calculate the values properly on any lease calculator.. I just need to know what I can get away with as far as over/under invoice for the Accord LX, along with:

    With an expiring Honda lease, any loyalty credits or related incentives?
    Are there rates available for a 10,000 mile lease since he drives under 10k miles annually...?
    Any other charges/fees or credits one should be aware of when calculating cost?

    Please advise!! Have to make a decision on the vehicle soon.

    Thank you!
  • hithit Member Posts: 36
    Hey, I just realized I had a typo in my last post. I was looking for numbers and info for the 2013 Accord LX, not the 2012.


    How much over/under invoice should I ask for the selling price of the car to be?
    Any incentives currently in place on the Accord LX? (I didn't see anything online, but maybe there's something I'm missing)
    He has an expiring Honda lease, any loyalty credits or related incentives?
    The posted rates I've found are: LX - 63% AND .00155 FOR 12,000 MILES/36 months .. are these accurate? Are there rates available for a 10,000 mile lease since he drives under 10k miles annually...?
    The Honda Finance fee I've seen posted is $595, any other costs to expect when leasing?

    And is there anything else one should be aware of when proceeding with this vehicle??

    Thanks very much!
  • iontrapiontrap Member Posts: 139
    There is not much traffic over in the Crosstour lease thread so, hopefully someone can help me over here.
    What is the residual value and money factor on a 2012 Crosstour EX-L, 36 months with 12000 miles per year? I have seen 0.53% residual and 0.0002 MF (this info is not from Edmunds so I am hesitant to believe it), is this correct?
  • brian125brian125 Member Posts: 5,244
    edited December 2012
    HIT, I'm not a lease guy. On pricing any Accord can be had for 500 below dealers invoice at worst case.. I would start my calls the last few days of this month.. Telling each dealer that for $ 1200 below dealers invoice you will lease that moment. Make sure the money factor, and resid, are correct.. I posted a few days ago some good dealers in my area.... Try calling them first. Use Waymouth Honda's web site as your starting point on pricing most of there pricing is about 500 below dealers invoice price on vehicles. Every dealer in your area should match or beat Waymouth lease price to get your business. 10 maybe 20 dollars a month i would expect lower than Waymouth's Internet Quote. Post your deal when your done... Good luck..........Brian

    23 Telluride SX-P X-Line, 23 Camry XSE

  • hithit Member Posts: 36
    Hi brian125, thanks for the response. Are you referring to dealers invoice or the msrp when you say that it should be at least $500-$1,200 below invoice.

    Please advise, thank you!
  • brian125brian125 Member Posts: 5,244
    Dealers Invoice. Always start any vehicle negotiations below Invoice and making your best deal that way. Never start at msrp and work pricing down from that end.

    23 Telluride SX-P X-Line, 23 Camry XSE

  • brian125brian125 Member Posts: 5,244
    Use this formula to figure out a starting price to offer the Dealer.

    1- Vehicle's Invoice price
    2- Minus Dealers-hold back on Vehicle
    3 Minus Any Manufactor Incentives/ cash back

    23 Telluride SX-P X-Line, 23 Camry XSE

  • moretownmoretown Member Posts: 3
    Brian -- Do you consider the destination fee ($795) part of the dealer invoice?

    Personally, I would start using the e-quotes services many of these honda dealerships has up and seeing what prices they are quoting. You can always setup some sort of spam-email account in case you don't want to use your real email.

    For example, just got a quote from Honda of Los Angeles for an Ex-L, I4 for 24,469 w/o destination fee.
  • brian125brian125 Member Posts: 5,244
    edited December 2012
    NO, Your Dest- Charge has to be added to your final agreed sale price. All consumers have to pay this charge> It is not Negotiable .

    Iv'e always found Edmunds forums a great source of info on Buying/ Leasing and Car info. However.... you start the process of getting info or idea's on Car pricing helps obtain a best price scenerio.

    23 Telluride SX-P X-Line, 23 Camry XSE

  • marie99marie99 Member Posts: 21
    There is an interesting lease deal going on now if anyone is interested (New Jersey) ends on the 24th. I leased an 2012 Accord LX from this dealership earlier this year. It's 10k/year though, but it may work for someone. Thought I'd pass it along.

    Hamilton Honda
    ALL NEW 2013
    Honda Accord LX 4 DOOR


    $169
    per 39 months**
    $0 DOWN!


    Also Includes Our
    Hamilton Honda Guarantee

    FREE Oil & Filter Changes
    FREE Unlimited Car Washes
    FREE Service Loaners & Shuttle Service

    Subject to Tier 1 Credit Approval.**Based on 39 mo lease, 10K mi/yr @ .15 additional. Total payments $6591. Residual $15559. No Money Down!
    Taxes (NJ $503.02, PA $646.74), Doc Fee, DMV Fee & Bank Acquisition Fee $595. MSRP $23270. Prices include delivery & prep fees, up to $1500. In wear termination included.
    Full Gap insurance protection, no lease end termination fees. Expires 12/24/12. No two offers combined.
  • brian125brian125 Member Posts: 5,244
    Nice job Marie merry x-mas

    23 Telluride SX-P X-Line, 23 Camry XSE

  • jlichtmajlichtma Member Posts: 1
    Just leased the 2013 sport for 266.00 with 1500 down, Did I do well?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi redbone55. Honda Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Coupe LX-S with 12,000 miles per year are .00155 and 61% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome psanders.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jcarlos. It would be easier for me to evaluate this deal if you were able to provide me with this car's selling price. Let me know and I'll tell you what I think.

    Car_man
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