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2013 and earlier-Honda Accord Lease Questions
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Comments
Take care,
Bill G
2017 Accord Sport CVT Mod Steel Metallic
Actual net capitalized cost $25,587.72.
Net capitalized cost includes $595 acquisition fee
Total monthly payments $10,764.00.
Option to purchase at lease end $16,161.60
Monthly Payment $299
Term: 36 M
Due at signing: $2,699
Hope this helps
Bill G
2017 Accord Sport CVT Mod Steel Metallic
Correct me if I am wrong, but on the Weymouth calculator, they state that the figures are NOT inclusive of MA 6.25% tax. So the listed numbers are actually $277/month plus $641 due at signing. If you put the difference from the $641 and the $260 which I paid into the lease, you would come to closer to $288-290/month or so. Which would still be a pretty good deal considering the other numbers that have been quoted on this forum!
Can I please get the May MF & residual numbers for the Accord EX-L V6 w/o NAV on a 3-year, 12k/year lease?
I think the April #s were 0.00107 and 58%.
Thank you,
badger1994
2017 Accord Sport CVT Mod Steel Metallic
Good luck!
2017 Accord Sport CVT Mod Steel Metallic
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Honda Finance's May residual value for a 36-month lease of a 2013 Accord Sedan EX with 12,000 miles per year is 62%.
Car_man
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According to my calculations, if you were to lease a 2013 Accord Touring that has an MSRP of $34,220 and a selling price of 31,857 through Honda Finance right now for 36-months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $399.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Yes, I believe the money factor for Sign and Drive leases is slightly different than the regular money factor, .00010 lower to be exact.
Honda isn't providing any specific cash incentives on the 2013 Accord yet, but it does have some $250 FlexCash certificates out there for leases that you may be able to convince a dealer to apply to your deal.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Thank you Carman, I was trying to get in before the end of last month with the Spring Event but it looks like the lease factor went down? Anyhow, I did not get the specifics yet but the prices I was given with taxes:
$349 for 4cyl EX-L Navi CVT
$419 for Touring
What do you think? This was based on a solicitation email for 0 down 199 on an LX, so I emailed back for a quote on the EX-L w/Nav and Touring (big strectch I know, but if I get the v6 I want all or nothing) with 0 disposition fee after 36m/12k. Just first payment and some "Vek" package due due at Signing.">
Is there any way of confirming the residual number? A dealer in Westchester County, NY is telling me that the residual for the highest credit tier is 57% (w/o NAV).
Thank you,
badger1994
CUSTOMER DISCLOSURE
Customer Name: Inside Car Buying, LLC WD Deal ID: 54294
Sale Vehicle: New 2013 HONDA ACCORD SEDAN CR3F8DJNW 4dr EX-L V6 AT PZEV w/AC , Automatic , Odom: 0
Payment Details
Term 36
Base Payment 301.42
Total Payment 301.42
Purchase Option 17,590.20
MSRP 30,860.00
Est. Miles Per Year 12,000
Excess Mileage Charge 0.20
Amount Due at Signing
1st Month Payment 301.42
Acquisition Fee 595.00
Fees & Insurance 342.50
Upfront Taxes 886.56
Total Inception Fees 2,125.48
Rebate as Cap Reduction 500.00
Total Drive Off 2,625.48
Total Cash Required on Delivery 2,125.48
Tax Information
Customer State: New York Customer County: WESTCHESTER
Type Amount Rate Paid
Cashdown Tax 86.29 7.3750 Upfront
Upfront Tax 800.27 7.3750 Upfront
Fee Information
Description Amount Paid
Reg 245.00 Upfront
Insp 10.00 Upfront
Title 12.50 Upfront
DocFee 75.00 Upfront
MSRP 31140.00
Savings 2329.00
Rebate 500.00
Cap Cost 28811.00 (why isnt that 28311.00?)
Total Add on 652.00
Sales Tax 1063.00
Dealer/State Fees 1295.00
Total Price 31822.24
Net Residual 17127.00
Drive Off 1528.85
With these numbers, I was quoted a monthly payment of $344.82 with $3000.00 down on a 12000 mile/year lease.
Any help or guidance you can provide would be appreciated.
Thanks!
This is how I learned to calculate lease payments:
1. MSRP (I include destination here, but have read conflicting advice on this) X residual factor = residual
2. Depreciation = cap cost - residual
3. Depreciation/months of lease = monthly depreciation portion of your lease payment
[Now it gets weird]
4. (cap cost + residual) x money factor = money factor portion of your lease payment.
3+4 = total pre-tax monthly payment
cap cost is the negotiated car price + whatever else you roll into the lease.
Your cap cost seems high and the $3k down is crazy. Also, don't think of that $2,329 as "savings". You shouldn't start from MSRP. Start from invoice and work down.
=====
Here's a quote from a dealer in Westchester, NY on an EX-L V6, 12k/year with remote start and cargo net, no NAV, w/very high credit score:
MSRP w/dest: $30,860
Cap cost w/$595 bank fee rolled in: $27,966
residual: 57% - (car_man says this should be 59%. I'm waiting for confirmation.)
MF: 0.00089
Payment: $328.76 (pre-tax) $349.64 after tax.
Due at signing: $1,198.69
- 1st payment
- state taxes (in this case, CT): payment x 36 x 0.0635% = $751.55
- DMV: $97.50
- Plates: transfer from previous lease, so $0 I think.
Remember to calculate state tax on the pre-tax monthly payment to avoid paying tax on tax.
This dealer did that initially.
Good luck.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Here are the numbers and description provided on the 4 square from the dealer:
MSRP 31140.00
Savings (dealer term)2329.00
Rebate 500.00
Cap Cost 28811.00 (why isnt that 28311.00?)
Total Add on 652.00
Sales Tax 1063.00
Dealer/State Fees 1295.00
Total Price 31822.24
Net Residual 17127.00
Drive Off 1528.85
With these numbers, I was quoted a monthly payment of $344.82 with $3000.00 down on a 12000 mile/year lease.
Any help or guidance you can provide would be appreciated.
Thanks,
Jim
badger1994
Feel free to use the quote. However, I don't think a dealer in FL will care about a quote from NY. It's not like you can walk and actually take advantage of that quote, so there's not much of a threat. It's more advisory than anything I think.
I can't get your numbers to work when I plug them into my Excel sheet, so I can't tell you how much your payment will go down by increasing the residual by 2%. However, I can tell you that for my quote, it goes from $328.76 pre-tax to $312.17 pre-tax.
Please note that Car_man has confirmed the 57% residual figure, so making this comparison is just an academic exercise at this point.
After the Edmunds Price Promise Discount we would be happy to offer that vehicle to you at $27,606.39 plus taxes and fees.
That price includes our Lucas Honda Protection Package which includes items such as mud guards, door edge guards, wheel locks and a cargo tray.
The original dealer was charging $652.00 for the protection package so this seems like it may be promising, dependent on dealer fees.
Better than a quote, I can tell you what my mother just closed on this evening at New Rochelle Honda in Westchester, NY. The internet quote was $328.76 pre-tax with bank fee rolled in. She negotiated it down even further by taking a car in inventory.
2013 EX-L V6
Silver w/black leather
36 months
12k/year
options: cargo net and remote engine start
$320.47/month pre-tax ($340.82 after tax)
$1,446.93 due up front (note that the bank fee is rolled into the lease)
- 1st month payment (post-tax)
- CT taxes $779.11 (for some reason, they calculate it tax on tax. I can't figure out why. Car_man to the rescue?) :confuse:
- Plates $152
- Tire recycle and related docs $87.50
- DMV $87.50 (Usually $97.50, but $10 less b/c she moved the plates over from the leased car she's returning this weekend.)
Other: Credit score in the highest tier
Can you give me the residual on a 2013 Accord Coupe EX-L V6 with Navigation 36 month lease 15,000 miles? I hope to close a deal very soon! I am assuming the MF is the same .00089 for top tier credit on this vehicle as well. Thanks!
I would appreciate the current May lease residual and MF for a 2013 Accord Sport sedan (6-speed manual) for 3 yrs/12K per mile lease.
Also, you say it's good to roll the AHF lease fee of $595 and any dealer fees into the lease payment, is that correct? Do all Honda dealers have 2% holdback? Also, if they quote $27800..including destination which is basically invoice for this car, is that what they paid or did they pay $790 less than the price quoted? Is there good wiggle room of at least $500 less for the cap cost? I got quoted $27800 including dest but not the dealer $699 and $595 finance fee. Basically $29100 and zero down for a $418 payment including tax. I know I can go down a bit from this. What do you think and sorry for the long reply. Oh, is there any Honda cash this month on leases that can be applied? Thanks!
2017 Accord Sport CVT Mod Steel Metallic
2017 Accord Sport CVT Mod Steel Metallic
Take care,
Bill G
2017 Accord Sport CVT Mod Steel Metallic
36 months / 12k miles per year
2013 Accord I4 Coupe EX &
2013 Accord I4 Coupe EX-L
Thank you!
I had an accident and I took it to body shop the one Honda recommened and got it fixed.
I want to return it before lease ends as I don't want to pay unnecessary insurance.
I leased it for 1st time in my life. I paid zero down and first 3 1/2 months installment was paid by dealer. I paid $199 per month - with tax $212.56
Any advise before returning!
2017 Accord Sport CVT Mod Steel Metallic