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2013 and earlier-Honda Accord Lease Questions
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I have read this forum, and I see that the MF is 0.022, but would like to know the residuals for 36mo, 12 and 15k leases. Does anyone have this information? Thanks in advance...
In general, on the sedans it is around 60% for the I4 sedans and maybe 61% for V-6 sedans for a 36/36k lease and drops by 2% for a 36/45k lease. The LX may be 1% less and sometimes the NAV or leather cars may be a point lower too.
Also, 0.00220 (not 0.022 as you typed) is the MF for tier 1 on SOME I4 sedans right now. Others may be lower or higher and the v-6 models may have a different number (v-6 SE is 0.00182, for example).
So pick something and we can see if we can find the numbers for THAT car.
Dennis
Dennis
Thanks!
I doubt you can get the same payment...
But, the new lease payment quoted looks pretty good.. If you have enough equity in your current lease to pay the upfront charges on the new one, I'd say it is a great deal...
I'd rather lease a new one, than have $350/mo. payments on a 4 year old car... for 4 more years..
regards,
kyfdx
(taxes in NC must be cheap!!)
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Dealer 1: 21053+595(acquisition fee)+289.50(doc fee)+39(tag fee)=257.05 per month with first month payment and tax($300) due at signing.
Dealer 2: 21337+595(acquisition fee)+179(doc fee)+39(tag fee)=262.19 per month with first month payment and tax($300) due at signing.
Dealer 3: 21375+595(acquisition fee)+99(doc fee)+39(tag fee)=260.95 per month with first month payment and tax($300) due at signing.
Dealer 4: 21167+595(acquisition fee)+87(doc fee)+39(tag fee)=254.43 per month with first month payment and tax($300) due at signing.
Dealer 5: 21438+595(acquisition fee)+ZERO(doc fee)+39(tag fee)=259.88 per month with first month payment and tax($300) due at signing.
I should note that dealers will let you pay some, none, or all of the fees up front to change the monthly payments I cited. Watch those doc fees! They can make a big difference in your final costs. For ease, I only paid first month and taxes up front and listed those numbers above. Good luck!
P.S. Thanks afajbt, good info.
In the advertisements, they are trying to show a low monthly payment.. If you have decent credit, you can almost always walk out of the dealership with nothing out of pocket, but the first payment.
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1) Does rolling acq. fee into the payment result in changing the net cap cost?
2) According to my SE V-6 lease calculations, the MF right now is .00182 and 61% for a three year lease, and a 73% residual for a two year lease. Is the residual and the money factor the same for the EX V-6?
all taxes and fees rolled into lease Sales tax = 8.675% Included.
I am looking for a EXL V6 with Nav and even the price quote is reasonably well (26288, invoice 27224 and msrp 29995) but the monthly payment is high 411 including tax. So I am trying to gather some more information for negotiation.
MSRP 27,995.00
Sell Price 24,100.00
Residual 16,797.00
Sales Tax (8.675) 1,014.00
Aquisition fee 595.00
Adjusted cap cost 25,709.00
MF .00182
Payment 324.92
Due @ Pickup first mo 324.92
Title Fee 55.00
Waste Tire Fee (NYS) 12.50
Plate xfer fee 60.00
I'm in NY I Pick it up Tuesday
You may want to use this spreadsheet it makes "What if" things easier to track. And its very hard for a dealer to argue with Math.
http://216.168.131.103/accord.xls
EXL-V6 AT/Nav
MSRP: 29995
invoice 27224
cap: 26288+acquisition cost
residual: 66% for 2y/12k mi and 58% for 3yr/12k mi
drive off 655 (no security deposit)
monthly payment: 411 (include tax) for 2 yr; 374 for 3 yr lease
Deca1980
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Honda just introduced a new lease program for the car that you are interested in. Here is the latest info. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Accord EX V6 Sedan with 15,000 miles per year are .00090 and 56%, respectively. This car's 12,000 mile per year residual value would be 2% higher.
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Do you happen to know the lease rates on a Accord Sedan EX V6 with Navi for 24 and 36 months with 15k miles per year? Are the rates the same for the Accord Coupe?
Are they similar to the rates you posted above?
Thanks!
I was wondering if you would be able to tell me with the current Honda Lease offer for the SE V-6 about what I would expect to pay if I did only $1,000 down with trade equity and first months payment. The car I am looking at has an invoice of $21,638, what should I try to negotiate this price to?
Also do you know the details of the Honda Recent Graduate Program? I know Toyota as long as you have no negative credit issues you will be approved for Tier I credit with proof of employment. Thanks for your help,
Flyerfrenchy
I ended up leasing a 2007 Accord SE V6. It was one of two in stock (both white, which I liked). $21,600 cap cost, $1200 cap cost reduction, $100 doc fee. MF of .00182 for 2 years (15,000 miles/year). My payment is in the low $220's, including tax. You can't even lease a Civic for that!
I wanted the dealer to go down to $21,300 but they refused. To make the deal, they threw in the Honda Music Link iPod kit. FYI the sound is great, but the kit is a piece of crap. You can't see the names of songs on the stereo.
Take a look at the Civic forum and you'll see people paying more.
By the way, the current MF on the Accord EX-L w/Nav, manual 5sp is .00096. The residual for a 36 month, 12k/yr. mileage limit lease is 57% MSRP. When negotiating the price, note that the holdback/interest amount (which the dealer uses to compute its net-net, what it considers its true price for the car) is roughly 2.9% of MSRP or around $787.50.
To be specific, the MSRP of the vehicle i'm looking at is 25,795. I'm planning on $0 TOP. What would this lease look like?
Thanks!
-Nick
My question is: when we have offers like this, can you negotiate the capitalized cost of the car? I went to a dealer yesterday in CT and when I asked him about negotiating this price, he smiled at me and said: "There is no such thing"
I'm also planning to trade in a 2000 Subaru Forester -- how can I use a trade in when leasing?
Thanks for the help
Also, since I'm planning to visit different Honda dealers, I don't want them to run my credit score every time we get close to a deal.
Thanks again!
Every year you are entitled to a free copy of your credit report. Make sure to get all three. FYI credit scores are not always based on the same model, or weighed identically. My advise is to use www.myfico.com and get the true FICO scores. If you go to Experian or Transunion, they will sell you simulated scores.
I didn't ask the dealer about pre-qualifying. If they offer it, make sure the inquiry is promotional. And if you are planning to lease an Accord, I don't see anyone offering lower money factors than American Honda.
How does the GRADUATE PROGRAMS work as far as the accord?
First off, thanks for all the help in these forums!
I'm interested in leasing (36 mo., closed end, 12,000 mi/year) a 2007 Honda Accord LX sedan--4 dr, 5 sp automatic (the regular LX, not the Value Package or the Special Edition). MSRP is $20,925 plus $595 destination charge.
Could you figure out an offer for me to make to the dealer? In my state the auto sales tax is capped at $300 so I guess that figure plus the tag transfer ($25) plus the first month's payment would all be paid at lease signing. Financing through Honda Finance.
Thanks!
BTW, here is a link to the lease rates for january for the Accord: link
Also, thanks for the lease rates link!
36 mo/15k mi – Residual Value 57% of MSRP – .00096 Base Money Factor Buy Rate
MSRP: 21,520 (includes destination)
INV: 19,573
NEG CAP: 18,823 (there is a $750 dealer incentive that may or may not apply to leasing in your area. i have confirmed that it applies in NY but your area may be different)
No Down Payment with all fees/1st pmt due at signing
(tax, dmv, acq fee ($595), and first months payment)
Monthly payment: $211.98
If you finance the acq fee you are looking at: $229.08
Again, this is assuming that $750 marketing support dealer incentive applies in your area. I would call and confirm with dealers in your area. Just ask to speak to their financing manager and ask if this incentive applies to leasing. Don't get into numbers on the phone, just let them know you are shopping around and you will stop by if you are interested. Also, the $300 tax cap and $25 dmv fee seems odd. If this is the truth, that is awesome.
Would it make any difference if the mileage allowance was 12K/yr. rather than 15K/yr.?
And yes, the $300 tax cap is correct--at least here in SC. Same with the $25 tag transfer.
Thanks, again.
The 2% residual difference should bring your payment down to $200.43 without acq fee and $217.52 with acq fee rolled into cap.
Selling Price: $26,300
What are the residual and money factors for a 36 month lease? The kicker is that I need extra mileage (current lease is 20k miles/yr and that's what I'd need). How does that affect the residual and money factors? I'd assume it would just lower the residual value b/c of the additional mileage put on the car. Any info. would be much appreciated. Thanks!