2014 Honda Accord Lease Questions

Michaell · September 2014

mattd35 said:
Hi,
First time posting and a checking on a lease question. This is for Mass resident. A dealer is offering $0 down with 12k/per year, includes, mass sales tax, dealer doc fee, title and registration fees included for $259/month for 36 months. This would be for a 2014 Accord Sport.
Sorry no other details were provided. Does this look like a good deal?

Thank you in advance.
Matt

Not enough information to evaluate - we'll need both the MSRP and the negotiated selling price.

mattd35 · September 2014

Not enough information to evaluate - we'll need both the MSRP and the negotiated selling price.

Thanks Mitchell, that's what i thought.

I looked again at the past posts and looks like Michaell was about the same.
Same MSRP was listed at 25,305 with Michaell's selling price for $21,435. You calc'd it out to be around $218 pre tax.
With Mass taxes, off of the $21,435 that's $1340 spread out 36 months to be $37 per month.
If I calculated correctly and assume the tax the spread out, I'm off by $3.79 per month.
$218 + 37 = $255 with the deal listed at $259.

Is my thinking correct or am i way off base with the tax payments?

mattd35 · September 2014

Hi Michaell,

I just got an offer for MSRP $25,305 and price of $20,830. Is this enough?
Mass sales tax is 6.25%.

I also got an offer for an Accord EX for MSRP 26,470 with price at $23,389.

edit, added the EX info and correct name. Sorry Michaell, don't know why I said Mitchell.

Michaell · September 2014

mattd35 said:
Hi Michaell,

I just got an offer for MSRP $25,305 and price of $20,830. Is this enough?
Mass sales tax is 6.25%.

I also got an offer for an Accord EX for MSRP 26,470 with price at $23,389.

edit, added the EX info and correct name. Sorry Michaell, don't know why I said Mitchell.

I would suggest that you look at the "Accord Prices Paid" discussion - lots of good information about transaction prices and targets.

Your math does look right ... take the tax burden and divide over the lease term.

casper0322 · September 2014

I'm looking into leasing the Honda Accord EX. Can someone please provide the RV and money factor. I'm located in Miami, FL. Also, any lease incentives available.

Thank you.

casper0322 · September 2014

casper0322 said:
I'm looking into leasing the Honda Accord EX. Can someone please provide the RV and money factor. I'm located in Miami, FL. Also, any lease incentives available.

Thank you.

I forgot to mention it's a 2014.

Michaell · September 2014

casper0322 said:
I'm looking into leasing the 2014 Honda Accord EX. Can someone please provide the RV and money factor. I'm located in Miami, FL. Also, any lease incentives available.

Thank you.

What lease term and how many miles per year?

casper0322 · September 2014

Michaell said:

casper0322 said:
I'm looking into leasing the 2014 Honda Accord EX. Can someone please provide the RV and money factor. I'm located in Miami, FL. Also, any lease incentives available.

Thank you.
What lease term and how many miles per year?

36/15K

kyfdx · September 2014

casper0322 said:
I'm looking into leasing the Honda Accord EX. Can someone please provide the RV and money factor. I'm located in Miami, FL. Also, any lease incentives available.

Thank you.

.00026 MF and 54% residual for 36mo, 15K/yr. $1500 lease cash.

rsaddiction · September 2014

Hi, can you provide me the numbers for a 2014 Honda Accord Sport Sedan and EX, I reside in NY.

36m/12k

27m/12k

-thanks

kyfdx · September 2014

rsaddiction said:
Hi, can you provide me the numbers for a 2014 Honda Accord Sport Sedan and EX, I reside in NY.
36m/12k
27m/12k
-thanks

.00026 MF and $1500 dealer cash.

EX residuals are 62% and 56%. Subtract 1% for Sport

sportymako · October 2014

First time using this forum - and first Honda purchase.

Looking at a 2014 Accord Sport lease in Florida

The current lease offer for Accord LX (not Sport) here is 0 down, 0 1st month, 36 months, 12k/year
Payment $240 (+tax)

Would I be off-base asking for the following on the Sport model:
0 down, 0 1st month, 36 months, 12k/year
The dealer has already added the following to the vehicle: Honda ProPack ($1295), P.A.L. ($499), Edge Guards ($199) - they have also said they would tint the windows

Payment $250 (+tax)

Any input is appreciated - Thanks! :-)

stickguy · October 2014

Lots of numbers. To keep them straight I'll ask myself.

2014 accord sport. 36 mo, 10k. Would buy In NJ or NY but register in NJ. haven't negotiated a cap cost yet but with your #s I can do payment.

stickguy · October 2014

Maybe I can. Better check me. MSRP 25,350. Selling price 22,000. Less 1500 lease cash, so cap cost 20,500? That how it works?

kyfdx · October 2014

sportymako said:
First time using this forum - and first Honda purchase.

Looking at a 2014 Accord Sport lease in Florida

The current lease offer for Accord LX (not Sport) here is 0 down, 0 1st month, 36 months, 12k/year
Payment $240 (+tax)

Would I be off-base asking for the following on the Sport model:
0 down, 0 1st month, 36 months, 12k/year
The dealer has already added the following to the vehicle: Honda ProPack ($1295), P.A.L. ($499), Edge Guards ($199) - they have also said they would tint the windows

Payment $250 (+tax)

Any input is appreciated - Thanks! :-)

If you are comparing, the Sport residual is 1% lower than the LX, so that will add around $10/mo., assuming the MSRP is the same (which it probably isn't).

That $2000 dollars that the dealer has added to the vehicle probably has a real value of about $300.

Michaell · October 2014

stickguy said:
Maybe I can. Better check me. MSRP 25,350. Selling price 22,000. Less 1500 lease cash, so cap cost 20,500? That how it works?

That's how I understand it .. get the best price, then deduct the lease cash.

36/10 residual is 56% for 2014 Sport, with a .00026 MF.

Pre-tax payment works out to $184.13/mo.

stickguy · October 2014

thanks. I smell an offer about to be made. Because with tax, that is $197.02/mo. This could be interesting. Of course, that assumes I can haggle them down to $1,800 below invoice. Hell of a nice car for $750 drive off and $200/mo if it can be pulled off.

stickguy · October 2014

OK, I never can quite match your calculations. Am I missing the bank fee that you include? Using your factors (sticker 25,350, 21,500 SP and 20,000 cap cost) I get $169.11. If I add in a $699 bank fee (upping the cap cost by that) I get $188.71, so a slightly lower bank fee could hit.

in any case, either way $200/mo including 7% tax seems like a worthwhile target.

kyfdx · October 2014

stickguy said:
OK, I never can quite match your calculations. Am I missing the bank fee that you include? Using your factors (sticker 25,350, 21,500 SP and 20,000 cap cost) I get $169.11. If I add in a $699 bank fee (upping the cap cost by that) I get $188.71, so a slightly lower bank fee could hit.

in any case, either way $200/mo including 7% tax seems like a worthwhile target.

Any offer you get is going to have the lease cash already included, because it's a dealer incentive, not a customer rebate.

Honda Finance acquisition fee is $595, and I've never seen it marked up.

stickguy · October 2014

thanks. I found an ad in the paper with the $595, and adding that back, get yto his # within a buck or so.

Might as well go big before I go home. From cruising the prices paid forum, buys are being done below invoice. So take that starting point and deduct the lease cash gets me too good to pass up.

at least I can go in with actual rational figures, instead of a crazy payment # I just made up!

[Deleted User] · October 2014

Hi Every One,
I leased a 2014 EXL (no Nav) with following quote:

Gross Capitalized Cost = 24935
Acquisition Fee=595
My TradeIn = 4000
Down Payment + first Month Payment = 2218
Monthly Payment = 2218
Lease Term = 3 years/15k

I also got the optional maintenance and Service Contracts with this deal.

Please let me know if this deal is good or not.

Thanks.

Michaell · October 2014

hlucky said:
Hi Every One,
I leased a 2014 EXL (no Nav) with following quote:

Gross Capitalized Cost = 24935
Acquisition Fee=595
My TradeIn = 4000
Down Payment + first Month Payment = 2218
Monthly Payment = 2218
Lease Term = 3 years/15k

I also got the optional maintenance and Service Contracts with this deal.

Please let me know if this deal is good or not.

Thanks.

What was the MSRP?

We normally don't recommend using trade equity or a down payment to reduce the cap cost - if the car is stolen or totaled, you are out that money.

What is your payment?

stickguy · October 2014

Contracts seem unnecessary on a lease. Nothing in 3/45 but a few oil changes and tire rotations.

lbond1 · October 2014

I'm having a hard time getting my local dealers to budge off the national lease deals. $262 zero down,zero first payment on lx and $288 zero down, zero first payment on Accord Sport.( OTD). Money factor 0.00026 and residual value of 13185.20 on lx and 13917.00 on sport. Should I wait or pull trigger?

Michaell · October 2014

lbond1 said:
I'm having a hard time getting my local dealers to budge off the national lease deals. $262 zero down,zero first payment on lx and $288 zero down, zero first payment on Accord Sport.( OTD). Money factor 0.00026 and residual value of 13185.20 on lx and 13917.00 on sport. Should I wait or pull trigger?

Don't negotiate on payment; negotiate on the best selling price. that will get you the best lease price.

Check the "Accord Prices Paid" forum to see what transaction prices folks are getting, and use them as your target for a lease price.

[Deleted User] · October 2014

Michaell said:

hlucky said:
Hi Every One,
I leased a 2014 EXL (no Nav) with following quote:

Gross Capitalized Cost = 24935
Acquisition Fee=595
My TradeIn = 4000
Down Payment + first Month Payment = 2218
Monthly Payment = 2218
Lease Term = 3 years/15k

I also got the optional maintenance and Service Contracts with this deal.

Please let me know if this deal is good or not.

Thanks.
What was the MSRP?

We normally don't recommend using trade equity or a down payment to reduce the cap cost - if the car is stolen or totaled, you are out that money.

What is your payment?

Hi,
I dont need my existing car and thats why i went with the trade-in option.
MSRP=29060
Invoice= 26,650

Michaell · October 2014

hlucky said:

Michaell said:

hlucky said:
Hi Every One,
I leased a 2014 EXL (no Nav) with following quote:

Gross Capitalized Cost = 24935
Acquisition Fee=595
My TradeIn = 4000
Down Payment + first Month Payment = 2218
Monthly Payment = 2218
Lease Term = 3 years/15k

I also got the optional maintenance and Service Contracts with this deal.

Please let me know if this deal is good or not.

Thanks.
What was the MSRP?

We normally don't recommend using trade equity or a down payment to reduce the cap cost - if the car is stolen or totaled, you are out that money.

What is your payment?
Hi,
I dont need my existing car and thats why i went with the trade-in option.
MSRP=29060
Invoice= 26,650

You've already signed the paperwork?

If so, enjoy your new Accord!

sportymako · October 2014

Ok - so I am soooooo confused - these are the details I have, but the end payment isn't making sense if anyone can 'splain them to me :-)
-
2014 Accord Sport Lease in FL - $0 down - $0 1st month

Negotiated price = $19,945.96
36 mos / 12k miles
MF = 0.00026
Residual = $13,411
Tax = 7%
Monthly Payment $259

When is use a lease pmt calculator, it shows a monthly of much less - any finance experts? :-)

stickguy · October 2014

what was the residual? When I did the calc in NJ (same 7%) using almost exactly that SP, I get about $199 including tax. But that was 56% (off a 10k lease). 12K is probably about 54%, explaining why your residual is lower than mine (I think about 14K)

But, I would pay the DMV stuff and 1st payment up front. And since Fla has crazy docs fees, my bet is that this is a true sign and drive?

so add to your price the acqusition fee ($599), dealer doc fee ($799?), tags, etc. That gives you the true cap cost to use for depreciation.

makes sense, if the DMV/dealer fee is high enough to come out to about 2k, to get near that price you were quoted.

sportymako · October 2014

Thanks so much! That's how I was figuring it up to make sense. The residual is $13,411

Does this sound like a "good deal"? The lease monthly on a 14 LX is $240/month, so with the Sport being a bit more, the $259 sounds about right. ??

stickguy · October 2014

well, without knowing all the fees, if you are really driving off for nothing and then making 35 payments, probably pretty good. The selling price is certainly strong!

keep in mind that $240 price does not include tax, or any kind of DMV fees. just adding tax and you are up to your payment figure, with more out of pocket.

sounds to me like a very good price on a really nice car! But I just do this as a hobby....

sportymako · October 2014

Thanks - I truly appreciate the input - My husband says I make a decent negotiator LOL :-)

stickguy · October 2014

Well, I was thinking of trying for that car down to a cap cost of 20K, so maybe I should just hire you.

Enjoy the car. It drives nice.

[Deleted User] · October 2014

Michaell said:

hlucky said:

Michaell said:

hlucky said:
Hi Every One,
I leased a 2014 EXL (no Nav) with following quote:

Gross Capitalized Cost = 24935
Acquisition Fee=595
My TradeIn = 4000
Down Payment + first Month Payment = 2218
Monthly Payment = 2218
Lease Term = 3 years/15k

I also got the optional maintenance and Service Contracts with this deal.

Please let me know if this deal is good or not.

Thanks.
What was the MSRP?

We normally don't recommend using trade equity or a down payment to reduce the cap cost - if the car is stolen or totaled, you are out that money.

What is your payment?
Hi,
I dont need my existing car and thats why i went with the trade-in option.
MSRP=29060
Invoice= 26,650

You've already signed the paperwork?

If so, enjoy your new Accord!

Yes, I did signed the paper work but i am still waiting for the car to deliver.
I am just checking if it is a good deal or not?

Michaell · October 2014

hlucky said:

Michaell said:

hlucky said:

Michaell said:

hlucky said:
Hi Every One,
I leased a 2014 EXL (no Nav) with following quote:

Gross Capitalized Cost = 24935
Acquisition Fee=595
My TradeIn = 4000
Down Payment + first Month Payment = 2218
Monthly Payment = 2218
Lease Term = 3 years/15k

I also got the optional maintenance and Service Contracts with this deal.

Please let me know if this deal is good or not.

Thanks.
What was the MSRP?

We normally don't recommend using trade equity or a down payment to reduce the cap cost - if the car is stolen or totaled, you are out that money.

What is your payment?
Hi,
I dont need my existing car and thats why i went with the trade-in option.
MSRP=29060
Invoice= 26,650

You've already signed the paperwork?

If so, enjoy your new Accord!
Yes, I did signed the paper work but i am still waiting for the car to deliver.
I am just checking if it is a good deal or not?

What was the MSRP? What state? What is your payment?

[Deleted User] · October 2014

Michaell said:

hlucky said:

Michaell said:

hlucky said:

Michaell said:

hlucky said:
Hi Every One,
I leased a 2014 EXL (no Nav) with following quote:

Gross Capitalized Cost = 24935
Acquisition Fee=595
My TradeIn = 4000
Down Payment + first Month Payment = 2218
Monthly Payment = 2218
Lease Term = 3 years/15k

I also got the optional maintenance and Service Contracts with this deal.

Please let me know if this deal is good or not.

Thanks.
What was the MSRP?

We normally don't recommend using trade equity or a down payment to reduce the cap cost - if the car is stolen or totaled, you are out that money.

What is your payment?
Hi,
I dont need my existing car and thats why i went with the trade-in option.
MSRP=29060
Invoice= 26,650

You've already signed the paperwork?

If so, enjoy your new Accord!
Yes, I did signed the paper work but i am still waiting for the car to deliver.
I am just checking if it is a good deal or not?

What was the MSRP? What state? What is your payment?

MSRP=29060
State=FL
Payment=219 (with taxes)

Michaell · October 2014

hlucky said:

Michaell said:

hlucky said:

Michaell said:

hlucky said:

Michaell said:

hlucky said:
Hi Every One,
I leased a 2014 EXL (no Nav) with following quote:

Gross Capitalized Cost = 24935
Acquisition Fee=595
My TradeIn = 4000
Down Payment + first Month Payment = 2218
Monthly Payment = 2218
Lease Term = 3 years/15k

I also got the optional maintenance and Service Contracts with this deal.

Please let me know if this deal is good or not.

Thanks.
What was the MSRP?

We normally don't recommend using trade equity or a down payment to reduce the cap cost - if the car is stolen or totaled, you are out that money.

What is your payment?
Hi,
I dont need my existing car and thats why i went with the trade-in option.
MSRP=29060
Invoice= 26,650

You've already signed the paperwork?

If so, enjoy your new Accord!
Yes, I did signed the paper work but i am still waiting for the car to deliver.
I am just checking if it is a good deal or not?

What was the MSRP? What state? What is your payment?
MSRP=29060
State=FL
Payment=219 (with taxes)

With $4000 trade equity and $2000 down payment (is that true? all of the $2K is going to down payment?), the adjusted monthly is $386/mo.

I would say that is an OK deal. It would be better to have the dealer cut you a check for the trade equity and use that money to help offset the increased payment. Same with the down payment.

If the car is stolen or totaled, you would be out that money.

jjnyc · October 2014

MF and Res for 14' Accord Coupe and Sedan EX-L V6 Coupe non-navi 36k/12mi for NY please, thank you.

kyfdx · October 2014

jjnyc said:
MF and Res for 14' Accord Coupe and Sedan EX-L V6 Coupe non-navi 36k/12mi for NY please, thank you.

.00026 MF and $1500 lease cash. 53% for sedan, 51% for coupe

jjgoldy5 · October 2014

Have a written offer as follows:
2014 Accord EX 4dr Sedan CVT
Sale Price = 21,450
MF = .00026
3yr / 36k mile
56% residual
$2k down, $169/month (before application of $500 honda grad incentive, which we will get)

Look like everything is kosher? Good deal?

Thanks in advance!

kyfdx · October 2014

jjgoldy5 said:
Have a written offer as follows:
2014 Accord EX 4dr Sedan CVT
Sale Price = 21,450
MF = .00026
3yr / 36k mile
56% residual
$2k down, $169/month (before application of $500 honda grad incentive, which we will get)

Look like everything is kosher? Good deal?

Thanks in advance!

What is the MSRP, and what is the breakdown of your $2000 upfront money?

jjgoldy5 · October 2014

kyfdx said:

jjgoldy5 said:
Have a written offer as follows:
2014 Accord EX 4dr Sedan CVT
Sale Price = 21,450
MF = .00026
3yr / 36k mile
56% residual
$2k down, $169/month (before application of $500 honda grad incentive, which we will get)

Look like everything is kosher? Good deal?

Thanks in advance!

What is the MSRP, and what is the breakdown of your $2000 upfront money?

I believe the MSRP is $25,680 before destination charge. Not sure what you mean by the breakdown of the $2000 upfront money?

stickguy · October 2014

is it all a down payment, or does it include tax, DMV fees, etc.?

jjgoldy5 · October 2014

stickguy said:

is it all a down payment, or does it include tax, DMV fees, etc.?

Assume the latter but not sure. Which would be more advantageous. Thanks again!

Michaell · October 2014

jjgoldy5 said:

stickguy said:

is it all a down payment, or does it include tax, DMV fees, etc.?

Assume the latter but not sure. Which would be more advantageous. Thanks again!

We do not recommend putting money down on a lease ... if the car is stolen or totaled, you would be out that money.

Paying up front for taxes, DMV fees, etc. is acceptable. You can use the available lease cash to cover those initial costs, also. On my last lease, my initial cost was only the first payment.

jjgoldy5 · October 2014

I see. Good deal assuming we put it towards the taxes and fees?

Michaell · October 2014

jjgoldy5 said:
I see. Good deal assuming we put it towards the taxes and fees?

Correct.

Chrismax · October 2014

Could I get the residual and Money factor for 2014 EXL with Navi for 36/36K miles and 36/45K miles? Any lease cash available? Live in Chicago area. Thanks

Michaell · October 2014

ccorcoran said:
Could I get the residual and Money factor for 2014 EXL with Navi for 36/36K miles and 36/45K miles? Any lease cash available? Live in Chicago area. Thanks

36/15 - 50%. Add 2% for 12K.

.00026 MF and $1500 lease cash available.

IL lease taxes are going to make your payment more expensive than others you see quoted on this thread.

Chrismax · October 2014

What is the formula to find out the apr using the money factor?

2014 Honda Accord Lease Questions

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