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2013 and earlier-Honda Accord Lease Questions
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Car_man
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Car_man
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I would be happy to give you my opinion of this lease, however it would be a big help if you would provide me with this car's full MSRP first. This number will show me how much of a discount you are being given and will enable me to estimate what your car's lease payment should be. Let me know and I'll tell you what I think.
Car_man
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The price that you are able to get this car for probably will vary depending upon whether you want to lease or not. Honda is currently providing $750 dealer cash on '06 Accord Sedans. This cash is not compatible with Honda Finance's special lease program. There is a good chance that the price the dealer you spoke with quoted you was taking this cash into account.
Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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I have a question - I'll be finishing up a lease on a 2004 Accord EX-L in September - It will have about 28,000 miles on it.
I'm looking to lease a 2007 EX-L next and was wondering if there is a opportunity to leverage the low miles on current lease vehicle to get a good deal on the new lease?
Is this common? The payoff on 2004 EX-L is around 15k and the trade in value around 16k-17k.
Thanks for the info
If the value is what a dealer would give you for the car, then you can either buy the car and trade it in (where it would obviously have positive equity if your numbers are correct) or you can negotiate with the dealer to buy it out on your behalf and use the positive equity. You aren't leveraging the low miles, you are leveraging the value of the vehicle.
When trading a lease, it works exactly like any other car that you either own or finance. If its worth more than what is owed, you can use that positive equity to your advantage.
However, if the dealer would only offer you $13k as a trade-in, then you obviously just want to turn the car back in and start from $0.
'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
'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
You also might consider leasing an '06 instead of an '07. There won't be any big updates on the '07 and, since you lease your vehicles, it does not matter if you have the latest model (in terms of resale). The '06 will lease for considerably less than the '07, which will make a much bigger difference than any equity you may have in this current car.
'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
Would the payments be calculated using the leasing money factor or traditional APR financing?
Can the current $750 dealer incentive apply to this program?
http://www.hondafinancialservices.com/looking_ahead/lpp.asp
I'm looking at two 06' Accords, both EX-V6's, one w/ Nav, one w/o. I know Honda was running a lease special on the 06' that expired on July 31. I was in the dealer tonight and was told this special was extended to August 5. Can you give me the money factor and residual on both V6 nav and non-navi (if there's any difference). Lease is 36 mos, and for either 12 or 15k per year (not sure which one to choose).
On that note-- if I am planning on turning the car in before the lease ends (i.e., not paying any additional mileage overages) would it not make sense to go with 12k/yr. anyway and keep the payment lower?
Thanks in advance,
Jason
I'm ready to lease a new car for my wife. The Accord LX sedan with automatic transmission is one of my options. I need the August MF and Residual for that car on a 36 month lease 12K miles/year.
Could you please help me?
Thanks in advance
For the month of August, what is the money factor, residual value on the 06 Accord sedan EX-L 4 cylnder and EX V6? 36 month, 15K per year
Thanks.
Thanks
MSRP: $27,850
Selling price: $24,000
MF: .00129
Residual: $15,875 or 57%
Zero down, just paid first months payment and DMV fees which came out to $598. Monthly payments are $319.
Thank you both for the replies.
I did a little searching around and found a couple of dealers who would do the deal for $1,500 + TTL.
Took the local dealer's offer. Then it got screwey at the "closing." I knew that no one ever can get a good deal there. Anyone familiar with that?
So what we ended up with was the advertised car with the rubber splash guards, rubber floor mats in addition to the carpets, and that rubber trunk liner deal - whatever it is worth. Raised the mileage to 15,000 a year. Paid $1,900 to drive off including first mos. pmt. Monthly payment was $225 including sales tax and the higher mileage. Residual was about $10,300. Probably not the best deal, given the delta737h example. However, she should have a little equity when the deal is finished in 36 mos.
What was really funny was that we had to sit through a sales pitch about the low quality of the paint on the new cars. And how it was really necessary to buy some type of paint protection for $500 or so. So I asked them if Honda knew about all of the paint problems? Why was Honda putting out such a poor product - particularly when they were advertising the high quality of the cars? Started double talking really fast then. The silly thing was - after we got the thing home - my daughter (the buyer) was still interested in talking about the $500 paint protection. Darned, those people can really scare the unaware.
There is very strong leasing support this month on the LX and the LX-V6. However, the last of the 2006s are getting hard to find. Each dealer seems to have only a few left and won't be getting any more.
MSRP: $25,695
Paid: $22,150
Downpayment: $290(First payment)
MF:.00129
Res:57%
Monthly $275.11 ($290 w/tax)
24mos 12000 miles per year $189.00 a month
$2000.00 down plus tax title and license fee.
They didn't concern about security deposit.
(need more negotiation?)
It is first time for me to lease a car, so I'm not sure it is a good deal or not.
I am looking to lease after having doubts about leasing. Currently I cannot find a 2006 Honda Accord LXSe in blue near my location. So I decided to possibly look at 2005 or 2004 LX SE or EX. Is looking at a 2004 or 2005 a good idea or should I wait and see what possible 2007 lease offers become available in the next month. I really need to find a car in the next few weeks if possible.
Have a good day.
i just got back from a honda dealer. it seems like they have a good deal going:
a 2007 EXL Sedan...sell price $22,500. BUT he said that the MF was .002..?
i told him i looked on the internet, and found that it was .00129.
he also wanted $1,000...covering...title, license and first car payment.
monthly payments of $355 (with tax included).
is the MF still at .00129? today is saturday, august 19.
is this a good deal for a lease?
i live in chicago...zip code 60631..if that matters.
thanks!
Car_man
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Car_man
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It rarely makes sense to try to get out of a lease prior to its scheduled end date. Consumers who do usually end up losing money. If you feel as though you will drive 15,000 miles per year, that is the mileage option that you should go with.
Car_man
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Car_man
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Car_man
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Car_man
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I am working a deal at $27,500 MSRP and $24,708 Cap Cost.
I figure the payment should be $304.52 per month.
Are my figures correct?
Thanks
Car_man
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Car_man
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Car_man
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I would be happy to give you my thoughts on this lease, however in order for me to do so it would be a big help if you would provide me with its full MSRP and selling price first. 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. Anyhow, post these numbers and I'll tell you what I think.
Car_man
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Car_man
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Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
Good luck and let me know if you have any other questions.
Car_man
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Car_man
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Car_man
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I am not familiar with the term "Buy rate lease" all of my leases have been closed end with a fixed residual.
This would be a "sign & go" lease with no security deposit.
How much of a internet discount should I realistically expect off the MSRP for a 07 SE?
Thank You.
2006 Accord EXL 4 cy automatic.
24950 MSRP
25500 with fees
22495 Invoice
I was thinking of an asking price of 22,700. But as I understand it Honda is offering $500 on 2006 leases so could I subtract from mu asking price and go closer to $22,000 asking price. Is it possible to go even lower. I live in Michigan if that makes a difference. I have a trade in that I think I can get around $4500 for a total cap cost of around 17,500-18,000.
I was looking at a residual of 7,983 after 60 months @15,000 miles per year and a MF of around .002 (Have excellent credit). All factoring around to a monthly payment of $230 or so.
Does this all sound reasonable to you?