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2017 Honda Accord Lease Deals and Prices

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  • MichaellMichaell Moderator Posts: 240,156

    Looking to lease for the first time. Have been reading through here the past couple weeks and hope I'm finally ready. I want to start by thanking you for your helpful tips, info, and strategies.

    Looking at 2017 Accord LX sedan, CVT for a 36/12 in northern VA
    From your posts I already know MF is .00059 and residual is 54%
    And there's $1500 dealer cash and $1250 lease cash

    1. Trying to figure out target price to negotiate now. Edmunds TMV for my area shows $20,548 (inc destination), much lower than invoice of $22,070 (inc destination)

    Is the Edmunds TMV already factoring in the dealer cash or can I legitimately aim for the TMV price of $20,548- $2750 (combined dealer and lease cash)?

    2. I am aiming for no down payment and paying nothing at signing.

    Is it possible to have everything (taxes, fees, and even $595 acquisition fee) rolled up into the monthly payments?

    And is there a disadvantage to doing this, i.e. would I be paying more to spread out the taxes and fees over the course of the lease vs. paying the taxes and fees upfront?

    VA is a state that charges tax on the entire car price in a lease, if it makes a difference.

    Thank you so much!

    Negotiate your best price, then subtract the incentives.

    Yes, you can roll all the taxes and fees into the cap cost. The advantage to that approach is that if the car is stolen or totaled, you don't lose that up front money you paid.

    VA is one of a few states that charges sales tax against the entire selling price - it's a bummer.

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  • ademelo2ademelo2 Member Posts: 11
    Money factor & lease residual for Massachusetts 36 months/12k per year on a 2017 Honda Accord Sport Special Edition. Thanks in advance!
  • MichaellMichaell Moderator Posts: 240,156
    ademelo2 said:

    Money factor & lease residual for Massachusetts 36 months/12k per year on a 2017 Honda Accord Sport Special Edition. Thanks in advance!

    .00059 and 55%

    $2750 total incentives

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  • mrred23mrred23 Member Posts: 2
    Hi 

    i was was looking at a 2017 Honda Accord Touring. 
    What is the MF and Residual in IN. I was thinking it was 0.00059 but I'm not sure. And what would I multiply that by to get my interest charge? I'm new to leasing and would like to get a good deal 

    thank you! 
  • MichaellMichaell Moderator Posts: 240,156
    mrred23 said:

    Hi 

    i was was looking at a 2017 Honda Accord Touring. 
    What is the MF and Residual in IN. I was thinking it was 0.00059 but I'm not sure. And what would I multiply that by to get my interest charge? I'm new to leasing and would like to get a good deal 

    thank you! 

    .00059 is the correct MF; multiply by 2400 to get the equivalent APR.

    Assuming 36 months and 15,000 miles, the residual is 46%

    Total of $2750 in lease incentives

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  • mrred23mrred23 Member Posts: 2
    Michaell said:
    Hi 

    i was was looking at a 2017 Honda Accord Touring. 
    What is the MF and Residual in IN. I was thinking it was 0.00059 but I'm not sure. And what would I multiply that by to get my interest charge? I'm new to leasing and would like to get a good deal 

    thank you! 
    .00059 is the correct MF; multiply by 2400 to get the equivalent APR. Assuming 36 months and 15,000 miles, the residual is 46% Total of $2750 in lease incentives
    I was looking at a 36 month/12K mile lease 
  • MichaellMichaell Moderator Posts: 240,156
    mrred23 said:


    Michaell said:

    mrred23 said:

    Hi 

    i was was looking at a 2017 Honda Accord Touring. 
    What is the MF and Residual in IN. I was thinking it was 0.00059 but I'm not sure. And what would I multiply that by to get my interest charge? I'm new to leasing and would like to get a good deal 

    thank you! 

    .00059 is the correct MF; multiply by 2400 to get the equivalent APR.

    Assuming 36 months and 15,000 miles, the residual is 46%

    Total of $2750 in lease incentives

    I was looking at a 36 month/12K mile lease 

    48% residual

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  • ajl1984ajl1984 Member Posts: 2
    Hi does anyone know the MF and residual on a Accord Sport SE 36 month 12K in Minnesota and Wisconsin?

    Thanks!
  • kyfdxkyfdx Moderator Posts: 235,221
    ajl1984 said:

    Hi does anyone know the MF and residual on a Accord Sport SE 36 month 12K in Minnesota and Wisconsin?

    Thanks!

    .00059 MF
    $1500 dealer cash + $1250 lease cash
    55% residual

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  • seafarer1seafarer1 Member Posts: 5
    Can I please get MF, residual & dealer cash and incentives for 2017 Accord Hybrid EX-L and Touring 36/12 lease in South Carolina? Thanks!
  • MichaellMichaell Moderator Posts: 240,156
    seafarer1 said:

    Can I please get MF, residual & dealer cash and incentives for 2017 Accord Hybrid EX-L and Touring 36/12 lease in South Carolina? Thanks!

    .00039 and 49% (EX-L) or 48% (Touring)

    $3900 total incentives

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  • mtj0003mtj0003 Member Posts: 2
    Can I please get MF, residual and dealer cash and incentives for 2017 accord ex l and ex l v6 36/12 lease in Ohio? Thanks!
  • MichaellMichaell Moderator Posts: 240,156
    mtj0003 said:

    Can I please get MF, residual and dealer cash and incentives for 2017 accord ex l and ex l v6 36/12 lease in Ohio? Thanks!

    .00059 and 53% (EX-L) or 50% (EX-L V6)

    $2750 total lease incentives

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  • rwolcott1rwolcott1 Member Posts: 1
    Could I please get the MF, residual, and cash/incentives for a 2017 Accord Touring 36/15k lease in Las Vegas, NV? Thanks!! 
  • MichaellMichaell Moderator Posts: 240,156
    rwolcott1 said:

    Could I please get the MF, residual, and cash/incentives for a 2017 Accord Touring 36/15k lease in Las Vegas, NV? Thanks!! 

    .00059 and 46%

    $2750 total lease incentives

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  • djjp1990djjp1990 Member Posts: 16
    Can I have the rates and incentives for a Sedan Sport in FL for 36/10k and 36/12k?

    Thank you!
  • MichaellMichaell Moderator Posts: 240,156
    djjp1990 said:

    Can I have the rates and incentives for a Sedan Sport in FL for 36/10k and 36/12k?

    Thank you!

    36/12 only; no 10K allowance for Honda

    .00059 and 54%

    $2750 total incentives

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  • johnnybravooojohnnybravooo Member Posts: 50
    edited July 2017
    Can I get numbers and incentives for Accord EX 36/12 @ South and North Carolina?

    I live in GA (one of the state you have to pay full tax for the lease) and was wondering if it would be possible for me to drive to SC, where I don't have to pay full tax, and get the car to save on tax.
  • gmanusmcgmanusmc Member Posts: 699
    edited July 2017

    Can I get numbers and incentives for Accord EX 36/12 @ South and North Carolina?

    I live in GA (one of the state you have to pay full tax for the lease) and was wondering if it would be possible for me to drive to SC, where I don't have to pay full tax, and get the car to save on tax.

    Not sure how it works in GA but normally sales tax is based on where the vehicle is registered.

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  • kyfdxkyfdx Moderator Posts: 235,221

    Can I get numbers and incentives for Accord EX 36/12 @ South and North Carolina?

    I live in GA (one of the state you have to pay full tax for the lease) and was wondering if it would be possible for me to drive to SC, where I don't have to pay full tax, and get the car to save on tax.

    .00059 MF and 54% residual
    $2750 incentive

    As noted, you have to pay taxes where you live.
    The lease program is national.

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  • pa_ls430pa_ls430 Member Posts: 4
    Could I please get the residual, MF and any incentives on 2017 Accord Coupe EX-L V6 (Manual)
    For PA if if matters.

    TIA
  • kyfdxkyfdx Moderator Posts: 235,221
    pa_ls430 said:

    Could I please get the residual, MF and any incentives on 2017 Accord Coupe EX-L V6 (Manual)
    For PA if if matters.

    TIA

    .00059 MF
    $3250 incentives
    49% residual for 36/15

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  • bardo770bardo770 Member Posts: 7
    edited July 2017
    Trying to extend lease for 1M. Original lease has no down payment in any form. Sales tax included in Gross Capitalized Cost. No Cap Cost reductions. Everything rolled into the monthly payment.

    Honda Financial tells me that because I am in New Jersey, I have to pay extra sales tax beyond what is already included in my monthly payment. How do I get around double taxation?
  • jimmytimmsjimmytimms Member Posts: 31
    edited July 2017
    Looking for MF, RV, and any lease incentives for 2017 Honda Accord Sport with Honda Sensing for Atlanta, GA. 12k/36. Thanks, thanks!
  • MichaellMichaell Moderator Posts: 240,156
    bardo770 said:

    Trying to extend lease for 1M. Original lease has no down payment in any form. Sales tax included in Gross Capitalized Cost. No Cap Cost reductions. Everything rolled into the monthly payment.

    Honda Financial tells me that because I am in New Jersey, I have to pay extra sales tax beyond what is already included in my monthly payment. How do I get around double taxation?

    The sales tax in your payment was the tax for the original lease term. Now that you are extending your lease, you'll be responsible for the sales tax for those extra payments.

    That said, I agree that your initial payment should be recalculated to exclude the original capped taxes.

    You might want to call Honda Financial back and speak to someone different (a manager, perhaps) - it's possible the agent you spoke with didn't fully understand the tax issues for NJ.

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  • MichaellMichaell Moderator Posts: 240,156

    Looking for MF, RV, and any lease incentives for 2017 Honda Accord Sport with Honda Sensing for Atlanta, GA. 12k/36. Thanks, thanks!

    .00059 and 53%

    $2750 total incentives

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  • bardo770bardo770 Member Posts: 7
    Is there a recourse for me if they refuse to do that?
  • MichaellMichaell Moderator Posts: 240,156
    bardo770 said:

    Is there a recourse for me if they refuse to do that?

    I don't know what recourse you would have - are you saying that they want to continue with the original payment amount, then add the monthly sales tax number on top of that?

    Yeah, I'd fight that; talk with someone at NJ Department of Revenue?

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  • kyfdxkyfdx Moderator Posts: 235,221
    Michaell said:

    bardo770 said:

    Is there a recourse for me if they refuse to do that?

    I don't know what recourse you would have - are you saying that they want to continue with the original payment amount, then add the monthly sales tax number on top of that?

    Yeah, I'd fight that; talk with someone at NJ Department of Revenue?
    IMO, there is no tax in the payment, as it was paid upfront. You chose to "borrow" the money to pay that tax upfront, by increasing your CAP cost.

    In other words, the state and the bank only "see" the amount borrowed, rather than items specified for certain purposes. From a practical standpoint, the tax was paid upfront, and you merely rent your car for a specific amount (the payment).

    That may not be fair, but if you had put $7K upfront to reduce the payment by $200/mo, then you would be extending the lease for $200/mo less, and that wouldn't be fair to the bank, and yet that's how it would work.

    I don't see the bank or the state going back to parse the details of your deal. How the numbers came about is how they determined the payment, but once the deal is done, you are renting for a specific monthly payment.

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  • MichaellMichaell Moderator Posts: 240,156
    kyfdx said:

    Michaell said:

    bardo770 said:

    Is there a recourse for me if they refuse to do that?

    I don't know what recourse you would have - are you saying that they want to continue with the original payment amount, then add the monthly sales tax number on top of that?

    Yeah, I'd fight that; talk with someone at NJ Department of Revenue?
    IMO, there is no tax in the payment, as it was paid upfront. You chose to "borrow" the money to pay that tax upfront, by increasing your CAP cost.

    In other words, the state and the bank only "see" the amount borrowed, rather than items specified for certain purposes. From a practical standpoint, the tax was paid upfront, and you merely rent your car for a specific amount (the payment).

    That may not be fair, but if you had put $7K upfront to reduce the payment by $200/mo, then you would be extending the lease for $200/mo less, and that wouldn't be fair to the bank, and yet that's how it would work.

    I don't see the bank or the state going back to parse the details of your deal. How the numbers came about is how they determined the payment, but once the deal is done, you are renting for a specific monthly payment.
    That makes sense - thanks for the explanation!

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  • bardo770bardo770 Member Posts: 7
    kyfdx said:

    Michaell said:

    bardo770 said:

    Is there a recourse for me if they refuse to do that?

    I don't know what recourse you would have - are you saying that they want to continue with the original payment amount, then add the monthly sales tax number on top of that?

    Yeah, I'd fight that; talk with someone at NJ Department of Revenue?
    IMO, there is no tax in the payment, as it was paid upfront. You chose to "borrow" the money to pay that tax upfront, by increasing your CAP cost.

    In other words, the state and the bank only "see" the amount borrowed, rather than items specified for certain purposes. From a practical standpoint, the tax was paid upfront, and you merely rent your car for a specific amount (the payment).

    That may not be fair, but if you had put $7K upfront to reduce the payment by $200/mo, then you would be extending the lease for $200/mo less, and that wouldn't be fair to the bank, and yet that's how it would work.

    I don't see the bank or the state going back to parse the details of your deal. How the numbers came about is how they determined the payment, but once the deal is done, you are renting for a specific monthly payment.
    Is that right? I put down $ to lower monthly payment and when I extend by say 2 months the payment stays the same? Hard to believe they would do that.
  • gmanusmcgmanusmc Member Posts: 699
    bardo770 said:

    kyfdx said:

    Michaell said:

    bardo770 said:

    Is there a recourse for me if they refuse to do that?

    I don't know what recourse you would have - are you saying that they want to continue with the original payment amount, then add the monthly sales tax number on top of that?

    Yeah, I'd fight that; talk with someone at NJ Department of Revenue?
    IMO, there is no tax in the payment, as it was paid upfront. You chose to "borrow" the money to pay that tax upfront, by increasing your CAP cost.

    In other words, the state and the bank only "see" the amount borrowed, rather than items specified for certain purposes. From a practical standpoint, the tax was paid upfront, and you merely rent your car for a specific amount (the payment).

    That may not be fair, but if you had put $7K upfront to reduce the payment by $200/mo, then you would be extending the lease for $200/mo less, and that wouldn't be fair to the bank, and yet that's how it would work.

    I don't see the bank or the state going back to parse the details of your deal. How the numbers came about is how they determined the payment, but once the deal is done, you are renting for a specific monthly payment.
    Is that right? I put down $ to lower monthly payment and when I extend by say 2 months the payment stays the same? Hard to believe they would do that.

    An extension is an extension to the terms you agreed to. Payment stays the same but the residual is adjusted down accordingly to account for the additional depreciation.

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  • micmag626micmag626 Member Posts: 4
    Could I please get the residual, MF and any incentives on a 2017 Accord Sport for Rhode Island. 12k/36 and 15k/36. Thanks!
  • MichaellMichaell Moderator Posts: 240,156
    micmag626 said:

    Could I please get the residual, MF and any incentives on a 2017 Accord Sport for Rhode Island. 12k/36 and 15k/36. Thanks!

    .00059 and 54% / 52%

    $2750 total incentives

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  • cnelson605cnelson605 Member Posts: 5
    Hi,

    Can someone who had success negotiating lease terms over email please offer some suggestions for how to get the dealer to send the necessary numbers to calculate the payment for myself?

    Contacted 6 dealers near me today via their websites, none would offer me the relevant numbers so that I could put them in a lease calculator. Almost every dealer gave a variation of you have to come in to speak to a manager, we will beat any offer you bring in, we sell SO many cars(!), etc.

    Only 2 dealers gave any number at all, and that was only what felt like highball monthly payment quote, no details.

    But I could not even check for myself because they were not willing to offer the breakdown, like selling price and added fees so I can see where they are padding.

    I was upfront about already knowing the MF, and residual, and what specific numbers I needed.

    Is this normal, or is there another way? I was hoping to negotiate over email, and just go into the one dealership after deciding, and sign papers.

    Thanks for your advice.
  • jimmytimmsjimmytimms Member Posts: 31
    Hi, Can someone who had success negotiating lease terms over email please offer some suggestions for how to get the dealer to send the necessary numbers to calculate the payment for myself? Contacted 6 dealers near me today via their websites, none would offer me the relevant numbers so that I could put them in a lease calculator. Almost every dealer gave a variation of you have to come in to speak to a manager, we will beat any offer you bring in, we sell SO many cars(!), etc. Only 2 dealers gave any number at all, and that was only what felt like highball monthly payment quote, no details. But I could not even check for myself because they were not willing to offer the breakdown, like selling price and added fees so I can see where they are padding. I was upfront about already knowing the MF, and residual, and what specific numbers I needed. Is this normal, or is there another way? I was hoping to negotiate over email, and just go into the one dealership after deciding, and sign papers. Thanks for your advice.
    Similar situation here. Contacted 4-5 dealers, only one gave the necessary info (not an actual print screen though), which was consistent with what the guys here gave me, but the monthly payment was still $50 off. I was able to work out the numbers for the other ones, but each time it seems there is a gap of $50-$80. So far, they either insist that their calc is right or go silent. Seems like this might be the sales person's profit that they don't want to give up. I will post the numbers for one of them in a few, and if someone could look at them and sense check if my calc is wrong or the dealership is playing games. 
  • jimmytimmsjimmytimms Member Posts: 31
    Ok, so, we have a 2017 Honda Accord Sport. Per earlier post: RV 53%, MF 0.00059. Numbers I got: MSRP: $27,290, Adjusted Cap Cost of $21,150 (includes lease incentives of $2,750), Tax/Fees/Tag: $3,100. Monthly payment that I am coming up with is just under $300. Is that right?
  • MichaellMichaell Moderator Posts: 240,156

    Ok, so, we have a 2017 Honda Accord Sport. Per earlier post: RV 53%, MF 0.00059. Numbers I got: MSRP: $27,290, Adjusted Cap Cost of $21,150 (includes lease incentives of $2,750), Tax/Fees/Tag: $3,100. Monthly payment that I am coming up with is just under $300. Is that right?

    With those prices, I get $207/mo. If I add the $3100 to the cap cost, I get $295/mo

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  • MichaellMichaell Moderator Posts: 240,156

    Hi,

    Can someone who had success negotiating lease terms over email please offer some suggestions for how to get the dealer to send the necessary numbers to calculate the payment for myself?

    Contacted 6 dealers near me today via their websites, none would offer me the relevant numbers so that I could put them in a lease calculator. Almost every dealer gave a variation of you have to come in to speak to a manager, we will beat any offer you bring in, we sell SO many cars(!), etc.

    Only 2 dealers gave any number at all, and that was only what felt like highball monthly payment quote, no details.

    But I could not even check for myself because they were not willing to offer the breakdown, like selling price and added fees so I can see where they are padding.

    I was upfront about already knowing the MF, and residual, and what specific numbers I needed.

    Is this normal, or is there another way? I was hoping to negotiate over email, and just go into the one dealership after deciding, and sign papers.

    Thanks for your advice.

    At some point, you'll have to visit the dealer. They aren't keen to do everything via email - too easy for you to shop those numbers.

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  • tonyg2016tonyg2016 Member Posts: 728
    Use the 1% rule and don't freak out over all the details. Many dealers will play the lease game with you no matter how well prepared you are...

    A good deal (relatively speaking) is the monthly payment is less than 1% of the msrp for a std 36 month, 12k per year lease. You can always do better on some models at certian times of the year, but you should never settle for a worse deal than 1% of msrp if you care about your money.

    Back when residuals were not inflated and money factors were much higher it was the 1.2% rule or $12 per 1000 of msrp. Leasing can be a good alternative for some people but not all...YMMV

    if you want to see hard-core leasing dealmakers and gurus, check out:
    https://forum.leasehackr.com/latest
  • jimmytimmsjimmytimms Member Posts: 31
    Michaell said:
    Ok, so, we have a 2017 Honda Accord Sport. Per earlier post: RV 53%, MF 0.00059. Numbers I got: MSRP: $27,290, Adjusted Cap Cost of $21,150 (includes lease incentives of $2,750), Tax/Fees/Tag: $3,100. Monthly payment that I am coming up with is just under $300. Is that right?
    With those prices, I get $207/mo. If I add the $3100 to the cap cost, I get $295/mo
    Great! At least now I know I'm not being unreasonable when I'm telling them that something is off. 

  • MichaellMichaell Moderator Posts: 240,156
    tonyg2016 said:

    Use the 1% rule and don't freak out over all the details. Many dealers will play the lease game with you no matter how well prepared you are...

    A good deal (relatively speaking) is the monthly payment is less than 1% of the msrp for a std 36 month, 12k per year lease. You can always do better on some models at certian times of the year, but you should never settle for a worse deal than 1% of msrp if you care about your money.

    Back when residuals were not inflated and money factors were much higher it was the 1.2% rule or $12 per 1000 of msrp. Leasing can be a good alternative for some people but not all...YMMV

    if you want to see hard-core leasing dealmakers and gurus, check out:
    https://forum.leasehackr.com/latest

    It's important to recognize that the 1% rule is not set in stone. The more in fees and taxes you roll into the lease, the less likely you'll achieve 1% of MSRP as the payment.

    Note the example above - MSRP is $27K, and the pre-tax/fee payment is .7% of MSRP. When the taxes and fees are added in, the payment goes to 1.1% of MSRP. Does that make it a bad deal? Not in my mind, given that the out of pocket cash is just the first payment and DMV costs.

    And, some brands simply lease better than others. Audi's are not as good to lease as BMWs. I've been seeing Camry leases of under $200/mo, much less than 1% of sticker.

    It depends on the MF, the residual, the incentives and the amount of discount from sticker you are able to negotiate.

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  • cnelson605cnelson605 Member Posts: 5
    Michaell said:

    Hi,

    Can someone who had success negotiating lease terms over email please offer some suggestions for how to get the dealer to send the necessary numbers to calculate the payment for myself?

    Contacted 6 dealers near me today via their websites, none would offer me the relevant numbers so that I could put them in a lease calculator. Almost every dealer gave a variation of you have to come in to speak to a manager, we will beat any offer you bring in, we sell SO many cars(!), etc.

    Only 2 dealers gave any number at all, and that was only what felt like highball monthly payment quote, no details.

    But I could not even check for myself because they were not willing to offer the breakdown, like selling price and added fees so I can see where they are padding.

    I was upfront about already knowing the MF, and residual, and what specific numbers I needed.

    Is this normal, or is there another way? I was hoping to negotiate over email, and just go into the one dealership after deciding, and sign papers.

    Thanks for your advice.

    At some point, you'll have to visit the dealer. They aren't keen to do everything via email - too easy for you to shop those numbers.

    Thanks- I guess I'll set aside my Saturday for visiting a few dealers.

    I have only been in the room during a purchase negotiation, where only the price was discussed.

    Are there any major differences I can expect for a lease? Any pitfalls to be aware of?

    I'm picturing we sit down, the salesperson presents a set of numbers, and I need to carefully doublecheck each number.

    I expect selling price of car will not be what I want it to be, so a point of negotiation.

    I know that residual should be exactly what is posted here for a 36/12: 54% for an ACCORD LX and that I should see .00059 for MF based on credit score.

    I will have taxes and fees rolled into the payment.

    If the other numbers like processing fee are too high, should I pick out individual items and negotiate one by one or just say bring down the total adjusted cap cost, and leave it to them to either lower selling price or the fee?

    One dealer advertises a lease deal with nothing due at signing, no down payment and no first payment.
    Sorry if its a dumb question... so I really pay nothing at signing, and I should see that it is a total of 35 payments on the paperwork?
    Or is this a common gotcha and they will say you can't roll taxes and fees into the payment so you have to pay that upfront? That would make it harder to compare the deal.

    Sorry it's long winded... I'm getting nervous thinking about Saturday.
  • MichaellMichaell Moderator Posts: 240,156

    Michaell said:

    Hi,

    Can someone who had success negotiating lease terms over email please offer some suggestions for how to get the dealer to send the necessary numbers to calculate the payment for myself?

    Contacted 6 dealers near me today via their websites, none would offer me the relevant numbers so that I could put them in a lease calculator. Almost every dealer gave a variation of you have to come in to speak to a manager, we will beat any offer you bring in, we sell SO many cars(!), etc.

    Only 2 dealers gave any number at all, and that was only what felt like highball monthly payment quote, no details.

    But I could not even check for myself because they were not willing to offer the breakdown, like selling price and added fees so I can see where they are padding.

    I was upfront about already knowing the MF, and residual, and what specific numbers I needed.

    Is this normal, or is there another way? I was hoping to negotiate over email, and just go into the one dealership after deciding, and sign papers.

    Thanks for your advice.

    At some point, you'll have to visit the dealer. They aren't keen to do everything via email - too easy for you to shop those numbers.

    Thanks- I guess I'll set aside my Saturday for visiting a few dealers.

    I have only been in the room during a purchase negotiation, where only the price was discussed.

    Are there any major differences I can expect for a lease? Any pitfalls to be aware of?

    I'm picturing we sit down, the salesperson presents a set of numbers, and I need to carefully doublecheck each number.

    I expect selling price of car will not be what I want it to be, so a point of negotiation.

    I know that residual should be exactly what is posted here for a 36/12: 54% for an ACCORD LX and that I should see .00059 for MF based on credit score.

    I will have taxes and fees rolled into the payment.

    If the other numbers like processing fee are too high, should I pick out individual items and negotiate one by one or just say bring down the total adjusted cap cost, and leave it to them to either lower selling price or the fee?

    One dealer advertises a lease deal with nothing due at signing, no down payment and no first payment.
    Sorry if its a dumb question... so I really pay nothing at signing, and I should see that it is a total of 35 payments on the paperwork?
    Or is this a common gotcha and they will say you can't roll taxes and fees into the payment so you have to pay that upfront? That would make it harder to compare the deal.

    Sorry it's long winded... I'm getting nervous thinking about Saturday.
    1. Negotiate the price of the car just like you would for a purchase
    2. The only difference in fees is the $595 lease acquisition fee - add this to the selling price
    3. Once you've negotiated a price, the number you want to focus on is the adjusted cap cost - this is the selling price plus any taxes and fees you are not paying up front. Make sure you completely understand the math the dealer uses to get the adjusted cap cost.
    4. If it is a true 'sign and drive' lease, then nothing out of pocket when you sign the paperwork, and 35 equal payments
    5. If you're not comfortable with something, ask them to explain it until you do understand, or walk

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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • cnelson605cnelson605 Member Posts: 5
    Could I please get a review of this proposed deal?
    Disclaimer, this is through email so may not be complete

    Background- I am looking for an Accord LX, cvt
    36/12, 54%, .00059
    Asked for nothing down, everything rolled into payment, only first due at signing
    In VA, 3.1 % tax, on the entire price


    Their offer:

    Lists a msrp of 23,330 (which doesn't match msrp on edmunds)
    Adjusted price 17,830
    Taxable fees 595 (I'm guessing the acquisition fee)
    Processing fee 799 (VA has no cap, this is the highest I've seen)
    Tax 797.80
    Non tax fees 98.41 (probably tags)

    They said is 235/month
    I couldn't get it to match on the calculator about $5 off

    Thanks!
  • kyfdxkyfdx Moderator Posts: 235,221

    Could I please get a review of this proposed deal?
    Disclaimer, this is through email so may not be complete

    Background- I am looking for an Accord LX, cvt
    36/12, 54%, .00059
    Asked for nothing down, everything rolled into payment, only first due at signing
    In VA, 3.1 % tax, on the entire price


    Their offer:

    Lists a msrp of 23,330 (which doesn't match msrp on edmunds)
    Adjusted price 17,830
    Taxable fees 595 (I'm guessing the acquisition fee)
    Processing fee 799 (VA has no cap, this is the highest I've seen)
    Tax 797.80
    Non tax fees 98.41 (probably tags)

    They said is 235/month
    I couldn't get it to match on the calculator about $5 off

    Thanks!

    I get $228/mo. with those numbers

    If I add $700 to the MSRP and $700 to the sale price, I come up with about $237/mo.
    The MSRP they quoted is definitely not correct.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • cnelson605cnelson605 Member Posts: 5
    kyfdx said:

    Could I please get a review of this proposed deal?
    Disclaimer, this is through email so may not be complete

    Background- I am looking for an Accord LX, cvt
    36/12, 54%, .00059
    Asked for nothing down, everything rolled into payment, only first due at signing
    In VA, 3.1 % tax, on the entire price


    Their offer:

    Lists a msrp of 23,330 (which doesn't match msrp on edmunds)
    Adjusted price 17,830
    Taxable fees 595 (I'm guessing the acquisition fee)
    Processing fee 799 (VA has no cap, this is the highest I've seen)
    Tax 797.80
    Non tax fees 98.41 (probably tags)

    They said is 235/month
    I couldn't get it to match on the calculator about $5 off

    Thanks!

    I get $228/mo. with those numbers

    If I add $700 to the MSRP and $700 to the sale price, I come up with about $237/mo.
    The MSRP they quoted is definitely not correct.

    Thanks for looking at it. I'm glad you were off too. It gives me hope that I may be closer to ready.

    A random question- at some dealers the only car in the color I want has 100-200 miles on it.
    Does the paperwork reflect exact mileage, i.e. will it say I can return with 36,1xx miles? I know it seems trivial, but in case I go over, I don't want each mile to bite me later.
  • kyfdxkyfdx Moderator Posts: 235,221

    kyfdx said:

    Could I please get a review of this proposed deal?
    Disclaimer, this is through email so may not be complete

    Background- I am looking for an Accord LX, cvt
    36/12, 54%, .00059
    Asked for nothing down, everything rolled into payment, only first due at signing
    In VA, 3.1 % tax, on the entire price


    Their offer:

    Lists a msrp of 23,330 (which doesn't match msrp on edmunds)
    Adjusted price 17,830
    Taxable fees 595 (I'm guessing the acquisition fee)
    Processing fee 799 (VA has no cap, this is the highest I've seen)
    Tax 797.80
    Non tax fees 98.41 (probably tags)

    They said is 235/month
    I couldn't get it to match on the calculator about $5 off

    Thanks!

    I get $228/mo. with those numbers

    If I add $700 to the MSRP and $700 to the sale price, I come up with about $237/mo.
    The MSRP they quoted is definitely not correct.

    Thanks for looking at it. I'm glad you were off too. It gives me hope that I may be closer to ready.

    A random question- at some dealers the only car in the color I want has 100-200 miles on it.
    Does the paperwork reflect exact mileage, i.e. will it say I can return with 36,1xx miles? I know it seems trivial, but in case I go over, I don't want each mile to bite me later.
    Yes.. .if the car starts with 100 miles, and you have a 36/12 lease, you get 36,000 miles to drive, so the ending mileage without penalty is 36,100.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • bb101bb101 Member Posts: 7
    Great forum and info! Would the $2750 in Honda incentives apply to a demo? I believe so but wanted to check. Also, I assume the residual would be adjusted down by 20cents per mile (and is it only for miles above 500 miles)? So if the demo had 3,000 miles, I would adjust the residual down by 2500 miles times 20cents, so $500. Is that correct?
  • MichaellMichaell Moderator Posts: 240,156
    bb101 said:

    Great forum and info! Would the $2750 in Honda incentives apply to a demo? I believe so but wanted to check. Also, I assume the residual would be adjusted down by 20cents per mile (and is it only for miles above 500 miles)? So if the demo had 3,000 miles, I would adjust the residual down by 2500 miles times 20cents, so $500. Is that correct?

    If the car has not been titled, it is eligible for new car rates and incentives.

    According to the information I have, if the car has more than 200 miles, then each mile is deducted from the residual at .10/mile. No word on whether those first 200 are free, so assume that for 3000 miles, deduct $300 from the calculated residual.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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