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2014 Honda Accord Lease Questions

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  • MichaellMichaell Moderator Posts: 240,057

    @kazuya_mishima said:
     Vehicle Price:$25,305.00  AutoNation Savings:-$2,746.00  SmartChoice Price:$22,559.00  Wheel Locks:+$149.00  Vehicle Selling Price:$22,708.00     Sales Tax (estimate):+$1,460.79  Tag/Registration Fees (estimate):+$298.75  Tire/Battery/MVWEA:+$8.50  Dealer Service Fee:+$699.95  Balance Due (estimate):$25,175.99 

    He then breaks it down to:

    LEASE OPTIONS
    Cash Due 36 months 12,000 Miles
    $668(down) $296(monthly)
    $1,200(down) $281(monthly)
    $1,800(down) $263(monthly)

    I emailed him back and asked about money factor which he said was inncluded so it confused me even more.

    What state is this in? Given the $700 dealer service fee it sounds like Florida.

    On a lease, the tax is paid only for the part of the car that is used - either the depreciation amount or the monthly payment. Doesn't make sense for the dealer to add the full value of sales tax into the amount of the lease.

    Also, get the dealer to explain where the down payment money is applied - to the fees listed above, or to reduce the cap cost?

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  • julio91julio91 Member Posts: 158

    numbers for 2014 honda accord Sport 36 months, 12k a year, Top tier credit in south florida and is there any incentives ? thanks guys

  • kyfdxkyfdx Moderator Posts: 235,175

    @julio91 said:
    numbers for 2014 honda accord Sport 36 months, 12k a year, Top tier credit in south florida and is there any incentives ? thanks guys

    .00045 MF and 58% residual. $500 lease cash

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  • dannog35dannog35 Member Posts: 6

    I have been shopping around in Connecticut. Some of the dealers here have added aftermarket leather to the Sport model which is exactly what I was looking for. The best deal so far........Zero down sign and drive, $329/mo 15K miles/yr. 39 months

  • julio91julio91 Member Posts: 158

    Thanks @kyfdx@Edmunds‌, Want to hear something odd, I went last night to try to get a deal for a friend. To make this story short, the salesman was giving me a totally different number then you guys. Correct money factor but the residual he was giving me was 48% for a Accord Sport. I was in shock because I called other places and the numbers you gave me were correct. Now can dealer change this number ? or is this a bank regulated thing meaning they can not tamper with that? The numbers were off. Your opinion will greatly appreciated, Thanks again guys for all your help. Going to another dealer this weekend will keep you guys posted.

  • MichaellMichaell Moderator Posts: 240,057

    @julio91 said:
    Thanks kyfdx@Edmunds‌, Want to hear something odd, I went last night to try to get a deal for a friend. To make this story short, the salesman was giving me a totally different number then you guys. Correct money factor but the residual he was giving me was 48% for a Accord Sport. I was in shock because I called other places and the numbers you gave me were correct. Now can dealer change this number ? or is this a bank regulated thing meaning they can not tamper with that? The numbers were off. Your opinion will greatly appreciated, Thanks again guys for all your help. Going to another dealer this weekend will keep you guys posted.

    The numbers we quote are from Honda Finance; it's possible this other dealer was pushing a lease from another financial institution with different MF and residual.

    The residual is set by the finance org and cannot be modified by the dealer. The MF can, and often is, increased by the dealer to put extra profit into their pockets.

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  • julio91julio91 Member Posts: 158

    @Michaell got it I know they could mark up the money factor to make profit but the Residual threw me off. But makes sense that the dealer could use another finance institution. Thank you for your response !

  • djrichdjrich Member Posts: 35

    Just took delivery of a '14 Crosstour and on that model along with the Accord models the residuals and MFs are some of the best Honda has had in a while. Accord is around 1% and Crosstour is less than 1% in the 2400 math. Happy shopping and dealing, its out there to get !!

  • ck90211ck90211 Member Posts: 159

    Regarding Altima being cheaper than Accords, they have always been cheap and aggressively priced. But come returning time Nissan and Nissan dealers have hard time digesting/reselling Altimas (I just returned a 2 year old), and it eventually had to be auctioned off for substantially less than residual. Good thing I just had to pay the disposition fee.

    Where as Hondas I was offered money (even without leasing another) to return cars at particular dealerships. So at the end Altima may be just fractionally cheaper than Accords.

    Best go with what you are happier with not the price.

    I do have a question concerning leases (in general) and Accord leases.

    I live in state of MD (75%) and CA (25%). MD has lower taxes (6%) but tax the whole car's price on leases, where as CA has higher tax (nearly 10% in my county) but only on the use/depreciating amount. Anyhow, I am considering leasing an Accord in MD but licensing it in CA (I do plan to use it in both states), and I rather pay CA tax on 42% (assuming residual of 58%) of the car, not 100%.

    Assuming CA and MD are considered different zones, thus different incentives. Do I get the MD Money Factor and Residual (state of purchase), or do I get the CA Money Factor and residual (state of registration)?

    And what is the current MF and Residual for LX, LX-S, and LX-Sport coupe with Manual transmission, 12K miles, in state of MD? I know it has been posted for FL I am just wondering if it's the same for MD. Thanks.

  • kyfdxkyfdx Moderator Posts: 235,175

    @ck90211 said:

    I do have a question concerning leases (in general) and Accord leases.

    I live in state of MD (75%) and CA (25%). MD has lower taxes (6%) but tax the whole car's price on leases, where as CA has higher tax (nearly 10% in my county) but only on the use/depreciating amount. Anyhow, I am considering leasing an Accord in MD but licensing it in CA (I do plan to use it in both states), and I rather pay CA tax on 42% (assuming residual of 58%) of the car, not 100%.

    Assuming CA and MD are considered different zones, thus different incentives. Do I get the MD Money Factor and Residual (state of purchase), or do I get the CA Money Factor and residual (state of registration)?

    And what is the current MF and Residual for LX, LX-S, and LX-Sport coupe with Manual transmission, 12K miles, in state of MD? I know it has been posted for FL I am just wondering if it's the same for MD. Thanks.

    The lease deals are only good where the car is registered. You may find it difficult to get Honda to accept a lease registration in any state other than where your driver's license is issued.

    As you may have already surmised, not only is the tax situation better in CA, the money factors are, as well. CA is in Region A, as is FL, and MD is in Region B. The money factor for Accord leases in Region B is .00086.

    Residuals for 36mo, 12K/yr.:

    LX = 59%
    Sport = 58%
    LX-S Coupe = 57%

    All have $500 lease cash.

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  • coyotelacoyotela Member Posts: 3

    For a 2014 Accord 4cyl EX-L, sedan, is there a current MF and residual available for 15K miles (LA area)--Thanks

  • kyfdxkyfdx Moderator Posts: 235,175

    @coyotela said:
    For a 2014 Accord 4cyl EX-L, sedan, is there a current MF and residual available for 15K miles (LA area)--Thanks

    .00045 MF and 55% residual for 36 months

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  • ck90211ck90211 Member Posts: 159

    Thanks kyfdx for prompt and direct reply. MD certainly isn't lease friendly, but selling prices are better than CA's.

  • kilnkiln Member Posts: 41

    Could you tell me if this is a decent deal?

    2014 EX-L V6 Accord Sedan - No extras

    MSRP - $31135.00
    Price - $27391.00

    Monthly payment - $369.00 tax included in figure - no money out of pocket.

    The dealer fee of $699.00 is included in the monthly payments.

  • nado55nado55 Member Posts: 8

    Hi all, newbie here: Looking to lease in Phoenix, AZ

    2014 EX-L V6 Accord Sedan:
    36 months,
    15K
    What are good numbers for MF, Residual ?
    Also if any incentives?
    Credit is in top tier category
    Thanks for any info you can provide!

  • MichaellMichaell Moderator Posts: 240,057

    @kiln said:
    Could you tell me if this is a decent deal?

    2014 EX-L V6 Accord Sedan - No extras

    MSRP - $31135.00
    Price - $27391.00

    Monthly payment - $369.00 tax included in figure - no money out of pocket.

    The dealer fee of $699.00 is included in the monthly payments.

    What state is this in?

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  • MichaellMichaell Moderator Posts: 240,057

    @nado55 said:
    Hi all, newbie here: Looking to lease in Phoenix, AZ

    2014 EX-L V6 Accord Sedan:
    36 months,
    15K
    What are good numbers for MF, Residual ?
    Also if any incentives?
    Credit is in top tier category
    Thanks for any info you can provide!

    MF of .00045; residual 54%

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  • kilnkiln Member Posts: 41

    @Michaell@Edmunds said:
    What state is this in?

    Florida

  • codexcodex Member Posts: 2

    I'm looking to lease a 2014 Accord Touring in CT, what would the MF and Residual be? Is it possible to lease from a dealer out of state? Thanks in advance!

  • kyfdxkyfdx Moderator Posts: 235,175

    @codex said:
    I'm looking to lease a 2014 Accord Touring in CT, what would the MF and Residual be? Is it possible to lease from a dealer out of state? Thanks in advance!

    .00045 MF and 51% residual for 36mo, 15K/yr.

    You can lease from any state, but Honda Finance will only offer lease programs that are valid in your home state.

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  • enviousenvious Member Posts: 3
    edited April 2014

    I got an offer for a 2014 Accord Coupe EX-L V6 with Navi for about $31K with tax, rebates, everything calculated. The lease price was about $0 down, $430 a month. 36 months/12k miles.

    Is this a good/bad deal? Living in NJ.

  • MichaellMichaell Moderator Posts: 240,057

    @envious said:
    I got an offer for a 2014 Accord Coupe EX-L V6 with Navi for about $31K with tax, rebates, everything calculated. The lease price was about $0 down, $430 a month. 36 months/12k miles.

    Is this a good/bad deal? Living in NJ.

    What was the original MSRP?

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  • enviousenvious Member Posts: 3

    @Michaell@Edmunds said:
    What was the original MSRP?

    About 33k. A little over.

  • MichaellMichaell Moderator Posts: 240,057

    @envious said:
    About 33k. A little over.

    OK - If I use $33K as the MSRP and $31K as the selling price with the published April numbers for MF and residual, I get a pre-tax payment of $415.13 for 36 months.

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  • ankurgankurg Member Posts: 53

    I am planning to get a 2014 EX-L with Navi 4 door accord in NJ. No add ons. the MSRP is 30,045. what is the best monthly I can expect with absolutely 0 down for 10k miles, 36 months? Please help
    Ankur

  • MichaellMichaell Moderator Posts: 240,057

    @ankurg said:
    I am planning to get a 2014 EX-L with Navi 4 door accord in NJ. No add ons. the MSRP is 30,045. what is the best monthly I can expect with absolutely 0 down for 10k miles, 36 months? Please help
    Ankur

    It all depends on the selling price you are able to negotiate. You may want to check the "Accord Prices Paid" discussion for information on what Accords are selling for in NJ.

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  • cdtottencdtotten Member Posts: 14
    edited April 2014

    What is the current residual and MF for an EXL V6 w/ and w/o NAV in KY? Thanks!

    edit: for 12k miles.

  • MichaellMichaell Moderator Posts: 240,057

    @cdtotten said:
    What is the current residual and MF for an EXL V6 w/ and w/o NAV in KY? Thanks!

    edit: for 12k miles.

    Lease term?

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  • cdtottencdtotten Member Posts: 14

    36 months - sorry.

  • MichaellMichaell Moderator Posts: 240,057

    @cdtotten said:
    What is the current residual and MF for an EXL V6 w/ and w/o NAV in KY? Thanks!

    edit: for 12k miles 36 months

    EX-L V6 w/o Nav - 55%

    EX-L V6 w/ Nav - 53%

    .00086 MF for both

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  • cdtottencdtotten Member Posts: 14

    Is there any lease cash available at this point? Thanks again for the quick response!

  • ankurgankurg Member Posts: 53

    Am I being unrealistic in proposing the following offer to a dealer in NJ
    2014 Accord EX-L with Navi, 4 door sedan, 10k miles, 36 months, 0 down
    MSRP - 30045
    Invoice - 28269
    Offered price - 25000
    MF - 0.00045
    Residual - 57%
    Monthly payment with 7% NJ tax - 254 per month
    Upfront Payment - Acquisition fee + Doc + registration (approx. $1000)
    Please advise
    Ankur

  • MichaellMichaell Moderator Posts: 240,057

    @cdtotten said:
    Is there any lease cash available at this point? Thanks again for the quick response!

    Sorry - $500 lease cash is available.

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  • MichaellMichaell Moderator Posts: 240,057

    @ankurg said:
    Am I being unrealistic in proposing the following offer to a dealer in NJ
    2014 Accord EX-L with Navi, 4 door sedan, 10k miles, 36 months, 0 down
    MSRP - 30045
    Invoice - 28269
    Offered price - 25000
    MF - 0.00045
    Residual - 57%
    Monthly payment with 7% NJ tax - 254 per month
    Upfront Payment - Acquisition fee + Doc + registration (approx. $1000)
    Please advise
    Ankur

    The MF and residual are spot on - but I can't tell you if the dealer would be willing to go $3000 under invoice for the selling price.

    You may want to check the "Accord Prices Paid" discussion to see what EX-L with Navi are selling for in NJ.

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  • usman247usman247 Member Posts: 6

    Hi, I got a quote on 2014 EX-L V6 w/Navi (MSRP 32900) for 36 months, 20K, 100 out of pocket and everything else rolled in payments. 100+ 35 payments @ 428. Any thoughts on the deal?

  • kyfdxkyfdx Moderator Posts: 235,175

    @usman247 said:
    Hi, I got a quote on 2014 EX-L V6 w/Navi (MSRP 32900) for 36 months, 20K, 100 out of pocket and everything else rolled in payments. 100+ 35 payments @ 428. Any thoughts on the deal?

    It's hard to comment without knowing the selling price... and, how they compute the 15K extra miles over a 15K/yr lease. And, your tax rate.

    If I guess at all of that, I'd say it's a pretty fair deal.

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  • enviousenvious Member Posts: 3
    edited April 2014

    @usman247 said:
    Hi, I got a quote on 2014 EX-L V6 w/Navi (MSRP 32900) for 36 months, 20K, 100 out of pocket and everything else rolled in payments. 100+ 35 payments @ 428. Any thoughts on the deal?

    The one dealer I went to offered me the same car spec (msrp 33,190) for 36 months and 12k with $430 a month. I'm like 90% sure it was $430 a month, but I could be wrong since I don't have the paper that had the deal written on it.

    I'm in NJ and that price includes all the associated fees with the car.

    EDIT: Mine was an accord coupe, I'm assuming yours is a sedan.

  • ankurgankurg Member Posts: 53

    Is there any concept of MSD (Monthly security Deposit) on Accord Leases? For BMW, i guess you can pay upto 7 monthly payments as deposit to reduce the money factor by 0.00007 per MSD. Is this valid on Accord as well? if yes then how much does the MF reduces by for each MSD paid? Please advise
    Ankur

  • MichaellMichaell Moderator Posts: 240,057

    @ankurg said:
    Is there any concept of MSD (Monthly security Deposit) on Accord Leases? For BMW, i guess you can pay upto 7 monthly payments as deposit to reduce the money factor by 0.00007 per MSD. Is this valid on Accord as well? if yes then how much does the MF reduces by for each MSD paid? Please advise
    Ankur

    I don't believe Honda allows MSDs on their leases .. it's usually available for premium makes like BMW or Audi.

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  • cytmikecytmike Member Posts: 2

    What is the MF and residual value for Coupe EX and EX-L 2 year lease 12k or 15k? Trying to see if 2 year is for me.
    I am in Northern California. Thank you!

  • MichaellMichaell Moderator Posts: 240,057

    @cytmike said:
    What is the MF and residual value for Coupe EX and EX-L 2 year lease 12k or 15k? Trying to see if 2 year is for me.
    I am in Northern California. Thank you!

    Coupe EX 24/12K - 63%; 24/15K - 62%

    Coupe EX-L 24/12K - 61%; 24/15K - 60%

    .00086 is MF for all

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  • ankurgankurg Member Posts: 53

    Hi, whats the money factor and residual on EX-L without navigation in NJ for 12k and 10k miles per year? thanks

  • MichaellMichaell Moderator Posts: 240,057

    @ankurg said:
    Hi, whats the money factor and residual on EX-L without navigation in NJ for 12k and 10k miles per year? thanks

    What is the lease term?

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  • ankurgankurg Member Posts: 53

    sorry 36 months.

  • MichaellMichaell Moderator Posts: 240,057

    @ankurg said:
    sorry 36 months.

    Residual value for EX-L w/o NAV is 57% for 36/12K and 58% for 36/10K.

    MF is .00045, with $500 lease cash.

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  • usman247usman247 Member Posts: 6

    Hi, Just signed a lease on a new 2014 Accord EXL V6 w/ Navi (20K annual miles @ $428/Month). Below r the details:
    MSRP: $ 32,900
    Capitalized cost: 30,277
    Lease Term: 36 Months
    Out of Pocket: $100 (1st pmt, tax, and all fees rolled in payment)
    MF: 0.00045
    Residual: 52% ($ 15,613)
    Annual Mileage: 20,000
    Seemed like a decent deal but let me know what you think? Thanks.

  • usman247usman247 Member Posts: 6
    edited April 2014

    Also, only 35 payments....

  • la2bayla2bay Member Posts: 3
    edited April 2014

    I live in North California (San Jose,CA). What is the current MF and residual for a 2014 Honda Accord Coupe EX-L V6 Auto (No Navi)? I have excellent credit (770+ FICO) and I'm trying to calculate the best lease for 36 months with 12K miles/yr. I prefer to pay 1st month + plus fees to drive off.

    So far, the best quote I've got was drive-off $788 (tax, DMV fees, and first month's payment), $353 (with tax) monthly, sale price $26586, and MSRP $31415. Is that good?

  • kyfdxkyfdx Moderator Posts: 235,175

    @la2bay said:
    I live in North California (San Jose,CA). What is the current MF and residual for a 2014 Honda Accord Coupe EX-L V6 Auto (No Navi)? I have excellent credit (770+ FICO) and I'm trying to calculate the best lease for 36 months with 12K miles/yr. I prefer to pay 1st month + plus fees to drive off.

    So far, the best quote I've got was drive-off $788 (tax, DMV fees, and first month's payment), $353 (with tax) monthly, sale price $26586, and MSRP $31415. Is that good?

    .00086 MF and 54% residual. Your deal looks very fair.

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  • cytmikecytmike Member Posts: 2

    @la2bay said:
    I live in North California (San Jose,CA). What is the current MF and residual for a 2014 Honda Accord Coupe EX-L V6 Auto (No Navi)? I have excellent credit (770+ FICO) and I'm trying to calculate the best lease for 36 months with 12K miles/yr. I prefer to pay 1st month + plus fees to drive off.

    So far, the best quote I've got was drive-off $788 (tax, DMV fees, and first month's payment), $353 (with tax) monthly, sale price $26586, and MSRP $31415. Is that good?

    I am looking for Accord Coupe in San Jose area too! I have quoted over 10 dealers in the Bay Area for EX-L 4 cyc, and visited some for them. Definitely avoid Capitol Honda because they quote me 2000 over msrp when I visited!??
    I have the best quote using truecar.com from Anderson Honda in Palo Alto, about 5000 below msrp.

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