Options
2013 and earlier-Honda Accord Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
What is your current payment? (not including the extra you've been paying)
speaking of the extra payment money, I'm not sure that will be used as you think it will. On a lease, you just make the payments and that's it, so if you send them extra money, that is just coming off your last payments, its not actually reducing the residual value. In other words, if your payment is $350/mo and you pay an extra $700 over the course of the lease, that just means you don't owe the last 2 payments. This is how I understand it, anyway.
In any case, you have a couple of options at this point.
Find out what your buyout right now is and then find out what your trade-in value is. If you aren't too far upside down (less than $1800 - since that is what you'd have to pay for going over the miles), then you could trade it in to the dealer of your choice, let them buy it out from Honda Finance, and you just have to pay off the negative equity.
The other choice is to pay the remaining payments, and for the 5k miles you are already over, and arrange to terminate your lease early with Honda. I'm not sure how far in advance you can do this, but I believe my sister did this on her Civic with about 6 months left for a fee of $150 plus her remaining payments.
'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
thanks for the response. I am actually looking at about $800 so far in excess miles. Now, if I complete my lease- driving the way that I have been, I could potentially owe about $1800 though. My current payment is about $400 (because I had negative equity put on this loan from a car that died on me). I have been paying $500 per month, for the past three months- and would continue to until I turn the car in (even if that means I have to keep it until the lease is done). I figured that if I paid the extra $100, and had to finish up the lease, I would not get hit with the large excess mileage fee at the end of the lease, in addition to having to buy another car. You mentioned that if you may more over the course of the lease, you just won't owe some of the other payments (do you think that AHFC would turn down the extra money once the lease payments have been made?) Someone else mentioned to me that if I buy another Honda or Acura- AHFC may be willing to waive my remaining payments, as long as I pay for the extra miles. I don't know what to do. I am honestly not having any problems with my car, (am just ready to own another car) and it looks like I may have to hold on to my car until December- hopefully getting one of those Christmas specials. Thanks so much for your help
The safest thing to do, if you want to continue on this path, is to put that extra $100 per month in a drawer somewhere until lease end, then you can use it to pay towards your excess miles. I wouldn't count on the leasing company to do it for you.
$400/mo plus excess miles puts you at $3600 now to get out of the lease. So we can write off that option. As I mentioned, the other option is to find out what the current buyout is and what the car is worth as a trade-in. You never know, you may only be a couple thousand upside-down now and could trade out of the car now rather than waiting till lease end and paying the couple thousand at that point. If its going to cost you the same either way, there is no reason why you can't get your new car now if that's what you really want to do.
good luck.
'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
but its usually not advisable unless you are buying it out and reselling it immediately. Reason being that a lease already includes all of the interest over the entire life of the lease. So financing it early means you are financing interest (essentially paying double interest).
'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
My New York dealer is pushing the 2006 SE on me.
(12k, 36 months) $289/600 down.
They say there is a program ($750)that they can apply to msrp to lower it. But since I want to use the dealer invoice, why isnt it applied to that?
Anyway, is this a good deal for June's money factor numbers?
also, does it matter if American Honda finance lists my credit as "preferred" or super-preferred" and in general what should be the dollar difference between those two credit categories.
thanks
2006 EX-V6 w/o Nav w/ metal trim kit and rear spoiler.
Here is a portion of a response
price for the 2006 Honda Accord EX-V6 Sedan with an automatic transmission, deck lid spoiler and metal look trim is $25,118. This includes the $550 freight and destination, preparation and cleaning . You simply add tax, CT dealer fees and your motor vehicles to the price.
Any comments, please. Just trying to get a good starting point before I continue to look.
THANKS FOR ANY HELP!!!!! :confuse:
'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
Thanks
Marlene
3yr/15K per year
MSRP: $27,850
Cap Cost: $25,118
Money Factor: 0.00089
Residual: 56%
Monthly payments: $318.78
Inception Fees: Bank Fee ($595), doc fee ($129), Registration for 3 yr ($178.50), NJ Tire Fee ($7.50)
Total paid (including 1st month): $1228.78
You need to have a credit score of >710 to qualify for low MF (you can get 0.00079 if you put down a security deposit of $350).
$750 off is not available with low MF.
As jstewie23 said on May 16th: "Got the car at invoice with a really low interest rate, so I am happy".
Thanks everyone who posted very useful info on this site -- it helped me a lot! Hopefully this info will be useful too.
Good luck!
I am interested in leasing an accord LX special Edition Automatic 4 Dr. It seems like that AHFC has given an even better lease offer on accord in June compared to previous month. Honda is currently giving LX special edition Auto at 239/month , which was on LX automatic a month ago.
I contacted the dealer with whom I had negotiated for LX automatic last month. I told them that currently AHFC is giving the same deal on Special edition, but they wont agree.
What are your thoughts on that..
I negotiated with them for 12000 miles, 36 months on LX autmoatic V-4 as follows;
selling price 19200
MSRP 21375
Money factor 0.00169
Residual 59%
total 650 due at signing, and $263/month (including Taxes).
Do you think it is a good deal??
Now I want them to negotiate the same lease for special Edition, do you think it will be possible ????/
please reply early.
Looking for a 36 month/15K lease.
Thanks.
Deal or no deal? THanks!
2006 Accord 4dr EX-L V6
$0 down
$330 a month
$800 at signing
NYC area
In short, the best way to assure that you are getting a good deal when leasing is to negotiate the lowest possible selling price on the car or truck that you want and then have the dealer use its buy rate lease money factor to calculate your monthly payment.
I don't believe that the $750 dealer cash that Honda is currently providing on '06 Accord Sedans is compatible with Honda Finance's special lease program.
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
The fact that you only qualify for Honda Finance's "Preferred" credit will make your car's money factor and ultimately its lease payment a little higher than if you had qualified for its "Super Preferred" tier.
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
Car_man
Host
Smart Shopper / Prices Paid Forums
You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
Car_man
Host
Smart Shopper / Prices Paid Forums
Thank you for the reply.
I am not using a Honda dealer. I am using a company called Wheels to Lease(they have a website).
My family and friends have used them before and they always beat the dealer by $30-50 a month on a lease with same payment factors ex: $0 down, tax in the payment etc.
I called them up and said they have a deal on the 06 Accord EX-L V6.(I didnt ask the sale price)
$0 down
$330 a month
$800 at signing
Without giving the sale price of the car, and with those monthly payments, am I at least in the ballpark of getting a deal on this?
Thank you for interest in my matter.
Would you be able to give me the money factor and residual% for an '06 EX-L V6 coupe 6-spd w/nav? Looking for a 36-month lease @ 12k mi/year. Thanks!
Can you help me with calculating a lease on a EX V6 Honda Accord without Nav.
-MSRP with destination: 27850
-The out the door price of the car: 24,750
-36 month/12,000 miles
Is there any other information oyu need??
Thanks!
I currently lease a 2004 Honda Accord EX 4cylinder sedan. I am looking to end my lease early to upgrade to a new SUV. MY lease ends in late March and am I looking to end the lease soon. The car only has about 15500 miles on it and is in good condition. The car has many add ons including leather, 6cd changer and XM. What is my best option for early termination? Will my Honda dealer like to buy the remaining monthly payments off me for them to sell this car used? Will another dealer where I am looking for my new SUV help me with ending this lease? ANy input would be great!
-MM
The sales woman tells me I can't lease it because it is a used car. She says it has 25 miles on it. She tries to get me to buy it, but I can't lease it.
Is she telling me the truth? Or is she trying to deter me from leasing this vehicle because I actually found one of their elusive ad cars on the lot.
Anyway, I think the real reason is because dealers are able to sell the cars for less than they can lease them at due to the manufacturer-to-dealer incentive currently on the Accord. This money does not apply to leases.
'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
I see some deals people got on this forum for $0 down and $340/month for a 36 month lease ($800 at signing), which sounds pretty good.
Is the cap cost the amount you negotiated for as the sale price (or did you have any trade in, etc.)?
Also, what dealer did you buy from?
Thanks!
MSRP:27850
$1000 Out of Pocket first month payment included
$315 a month for 35 months
12K miles per year
I've just started working with Brown Honda in Arlington, VA, and they quoted me the following on my first visit:
MSRP: 25600 (includes freight)
Cost: $22973 (includes freight)
MF: .0028
Residual: 57%
Lease: $350/month
$1500 out of pocket = first month's payment, tax, tags, supposedly all fees. This is Virginia, so I've got to pay the 3.17% tax on the car upfront, to the best of my knowledge. I honestly don't want to pay more than $269/month for this, considering that the V6 sedan is on that $279 special (which I could probably work down even lower), but I definitely want the coupe. What do you think my chances are? On cost, we're $98 over invoice, it appears. I also saw that Honda's still doing $1000 cash to dealer on EX-Ls--with the lousy MF, does that apply to the Coupe leases now? I'll go to some local banks to try to find better residuals if I have to.
Thanks for any tips--this is my first lease, and I'd rather not mess it up!
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums