Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
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
- residual: 59%
- MF: 0.00089
- price: $21506.05
- lease price: $265.63 (includes tax)
When I checked today it is:- residual: 58%
- MF: 0.00075
- price: 21,490.43
- lease price: $266.69 (includes tax)
This shows how residual affects final price even though MF and sales price have decreased. So what I am worried about here is that as I move to August and September, available 2013 models especially manual will become less available (hard to negotiate price?) and 2014 models will just start showing up, making negotiations hard as well?While the numbers above the difference is only $1 per month, but as I said with lack of cars I might have hard time getting a good deal. Thoughts?
A point drop in the residual would be offset by about a $250 decrease in price. That's not going to kill you if you guessed wrong by a month.
Why don't you check out the board last Sep and see how residuals changed. This year's change should be less since it isn't a redesign.
It looks to me that inventory is bloated but not many V6s around
Another thing I found interesting is the dealership had Honda summer clearance signs all throughout the dealership. I don't see this on Honda's website anywhere. They said the signs are up a little bit early. Makes me wonder if the offers are going to change next week? The current offers on Honda's website are said to last till Sept 2nd. Would Honda change the offers in the middle of a current incentive period? Anyone have any insight into this?
Here are the details of my lease:
Agreed upon value of the vehicle: $27050 (according to the honda contract)
$499 processing fee (listed on separate buyers order)
$1079 sales tax (listed on separate buyers order)
$42.75 tags and title (listed on separate buyers order)
This adds together to $28672.02
$2200 cap cost reduction ($2500 down - $500 flex cash + $299.07 first month payment)
Residual value: $16931.75
rent charge: $1173
According to the Honda contract the gross capitalized cost is $28725.27
This of course doesn't match gross capitalized cost I calculated from their individual items listed on the separate buyers order. It is pretty aggravating that their numbers don't match up between the Honda contract (no breakout of the taxes and fees on the Honda contract) and the separate buyers order. It seems like the dealer just pulls numbers out of the air for the Honda contract to make the monthly payment workout. Oh well. As long as they don't call me in to sign a modified contract I am happy with the deal I got.
The numbers for an otherwise identical lease of a Sedan EX-L V6 are .00075 and 56%.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
They did get really aggressive with the Coupe leases if you're interested in that though. Its lease program is different than the sedans'.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
MSRP 26195
36 Months and 24K miles a year ( I drive a lot)
35 Monthly Payment of $368 no money down or due at signing (not even first payment). everything was rolled into $368 (Tax 8%, DMV, all fees and first Payment).
I didn't get the break down yet and i checked it with weymouth honda and it seems to be aligned with it. what do you guys think is it good?
thanks
zero down (just sign and drive)
36 Months and 24K miles a year
Car Man please let me know how's the deal. i need to take the car by tomorrow. other members your comment and opinion are welcome as well.
thanks
If the car is stolen or otherwise totaled, you will not benefit
from that prepayment and the insurance company will not reimburse
you for the additional monthly payments you made.
It is similar to prepaying the sales tax in total up-front instead of including it
in the monthly payment.
If you provided those details, we would be able to provide comments. You don't negotiate a lease based on the monthly payment, you obtain the money factor and residual and lease inception fees and, then if they are reasonable, you negotiate the purchase price just as if you would be buying the car. Put all the numbers into the lease formula and then you understand what your monthly payment represents.
The fact that this is a 24K miles/yr lease makes it impossible for us to even guess what price the dealer is selling the car since none of us have probably ever seen a residual percentage for such a lease. I can't tell if he is charging under invoice or over MSRP. Even understanding your DMV helps since fees can vary widely by state.
Go back to the dealer and get all the details and then post. Rent a car for a day if you have to but don't blindly enter a lease because the payment fits within your budget unless you don't care that the dealer makes a huge profit at your expense.
I agree with your position 100% and always do my deals with 36 equal monthly payments and nothing else paid at signing. He's not even paying the first month payment at signing.
I just do not like to pay for something I may not benefit from in the event the vehicle is totaled prior to lease expiration.
Insurance plus gap will cover the termination of the lease if the vehicle is totaled, regardless of the mileage on the vehicle at that time.
In that case, you would have been paying for the extra12k mileage annually for naught.
sticker was 28795.
36 months/15,000 miles a year
0 sign and drive. didn't pay first month.
335 plus tax.
i think it was a pretty sweet deal. wish they would have thrown in a cargo net!
2017 Accord Sport CVT Mod Steel Metallic
I am waiting for more details from the dealer to share with you guys (this will help future consumer with high mileage lease).
thanks for your input so far
36 months 24K miles/year
MSRP: $26,195
Sale Price: $23,524
Residual Value $12,231 (47%)
MF: .00075
Tax 8%
Bank Fee: $595
Doc fee: $75
DMV 172.50
Monthly Payment of $375 (only 35 payments coming out of my pocket. sign and drive. first payment and everything else rolled into the payment).
if i am reading it right...Weymouth Honda's website quote is $397 (including 8% tax and zero due at signing.
what do you think?
thanks
Congrats!
Bill G
2017 Accord Sport CVT Mod Steel Metallic
Cerritos Honda
Kendra was my dealer
1) Capitalized Cost: $21,033.30
2) Cap-cost reduction: $0
3) Money Factor: 0.00075
4) Residual Value: $13,729.30
5) Total due at signing $0
6) Monthly lease payment including Local County tax: $228
ALL New 2013 Accord LX 4 Door
Automatic * Bluetooth * Rearview Back-Up Camera * Front Side Curtain Airbags Air Conditioning * Power Windows/Locks * ABS Brakes * AM/FM/CD * Cruise Control Keyless Entry With Immobilizer Theft Deterrent System * Alloy Wheels
2013 Accord LX.jpgFree Oil Changes & Unlimited Car Washes
Lease For Only $169 per month/36 months** NO MONEY DOWN
Subject to Tier 1 Credit Approval.**Based on 36 mo lease, 10K mi/yr @ .15 additional. Total payments $6,084. Residual $15,719. No Money Down! Just taxes (NJ $519.96, PA $668.52), Doc Fee, DMV Fee & Bank Acquisition Fee $595. MSRP $23,270. Prices include delivery & prep fees, up to $1500. In wear termination included. Full Gap insurance protection. Expires 7/29/13. No two offers combined.
Good luck!
Bill G
2017 Accord Sport CVT Mod Steel Metallic
So here's my question, what should my next step be in terms of negotiating? I'll be honest, $285 is well below my monthly allowance that I was hoping to stay under, but I know I can get them down more since that's their first offer.
I don't know if this number includes tax, but I'm assuming it doesn't. What should I ask to see when I walk in to meet with them?
Bill G
2017 Accord Sport CVT Mod Steel Metallic
2017 Accord Sport CVT Mod Steel Metallic
This is for a 2013 Honda Accord Sport, 15k miles/yr, CVT.
Good luck!
2017 Accord Sport CVT Mod Steel Metallic
One dealer came in at $500 over invoice and the other was $300 over invoice. This morning, I got a third selling price for $100 under invoice. I'm making progress, but I feel like I won't come near $1,500 under invoice.
Based on Truecar and Edmunds...this vehicle has been selling for $22,729 - $23,449 based on my zipcode (NY-Westchester).
Am I being unrealistic with my target selling price?
My intent is to lease, 15k miles/yr, 36 months.
The money factors and residuals that I have been quoted with are:
.00075 with 58% res.
.00065 with 56% res.
Leased this car yesterday and made a post on "Honda Accord Prices Paid" forum. Will not waste valuable storage space here, so here is the link to the post.
Appreciate all of your help!