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2013 and earlier-Honda Accord Lease Questions
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Thank you in advance
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.
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.
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.
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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.
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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:
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!
Is a money factor of .0017 and a residual of 48% completely out of the question? Or are those realistic figures?
Thanks,
Landon
Thank you gee22.
History and competition drive what these numbers are.
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
http://www.weymouthhonda.com/lease
The numbers for an otherwise identical 36-month lease are .00155 and 61%.
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Joe
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..
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Thank you.
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.
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Thanks.
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.
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!
Thanks again!
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...
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
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!
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.
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!
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!
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?
23 Telluride SX-P X-Line, 23 Camry XSE
Please advise, thank you!
23 Telluride SX-P X-Line, 23 Camry XSE
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
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.
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
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.
23 Telluride SX-P X-Line, 23 Camry XSE
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