Last post on Dec 10, 2013 at 1:25 PM
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Honda Accord, Coupe, Sedan
#19363 of 32216 Mom just leased 08 accord lx base good deal??
Feb 10, 2008 (6:03 pm)
Hi everyone my mother just leased an 08 honda accord lx from a dealer in ny. She basically wanted to get it for my father so he can drive it to work, Heres the specs on the lease agreement as far as i can remember.
I printed out the national lease offers honda has on there website and went with her to the dealer to show it to them. At first we asked what lease offers they had on the accord and the dealer said $329 a month with $2000 down out the door. Then i showed them the national offers honda had on their website and he was like let me see what i can do. I knew right away that they had to honor the offer since it was directly on the website. He said alright well honor it.
2008 Accord 4-Cylinder Sedan LX Featured Standard Lease
$219.00 per month for 36 months. $2,599.00 total due at signing.
Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.
FEATURED LEASE: Closed-end lease for 2008 Accord 4-Cylinder LX Sedan Automatic Transmission (Model CP2638EW) for $219.00 per month for 36 months with a $1,785.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,599.00 total due at lease signing (includes first month's payment, no security deposit, AHFC upfront acquisition fee and capitalized cost reduction. Security deposit waived in featured lease example. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.
So all said and done the cars msrp was $21,795 we got it for $20,066 selling price. $250 over invoice which is pretty good i guess. We paid all the taxes upfront with the cap cost reduction, first month, taxes, fees, etc... We wanted the lowest monthly rate possible so we paid the taxes upfront. Out the door it was about $3,546 at $219 a month for 36 months. I didnt know what the residual value was and the money factor at the time of signing. What do you guys think the residual is and money factor would be with that amount down? Was it a good deal? and is it worth buying out the car at the end or giving it back?
Sorry for the long post.
#19364 of 32216 Re: Mom just leased 08 accord lx base good deal?? [dknysae]
Feb 10, 2008 (7:03 pm)
How many miles per year are allowed under the lease before extra charges kick in?
#19365 of 32216 Re: Mom just leased 08 accord lx base good deal?? [dknysae]
Feb 10, 2008 (7:18 pm)
How much will your Mom have to pay to the dealer if she wants to buy the car at end of 36 months? 15K miles max to drive each year right?
#19366 of 32216 Re: Mom just leased 08 accord lx base good deal?? [dknysae]
Feb 10, 2008 (7:24 pm)
Basic simple rule of thumb:
- If your Mom wants to keep the car for over 5 years or may be 10 years or more BUY it.
- If she wants to replace it with a newer model after few years she can lease it. Carefully adding up all costs paying out to the dealer including the buy-out amount at end of 36th month. Lease is always very expensive, limiting driving miles, etc.
Your Dad should do the math with your Mom carefully. $20K+ for an Accord LX is not a good price.
#19367 of 32216 Re: leftover 2007 4 cyl Accord SE's [archcoe]
Feb 10, 2008 (7:49 pm)
Accord MT cans be hard to find, but hard to sell for the dealers.
At the end of the model run the manufacturer will give the dealers some buy down money on the left over cars and they are on their own to sell the left overs. Sounds like it might be $1,000 or $1,500 on this model (which seems pretty low). Honda has pretty much washed their hands on the 07 left overs, so I would doubt the price is going to drop down any more. If the dealer sells it for invoice less buy down less 100% of hold back that is the bottom line - and they will not want to sell it for less as they will lose money to sell the car.
#19370 of 32216 Re: 2008 4cy EX-L No Navigation [ineedahonda]
Feb 11, 2008 (1:19 pm)
I got a quote for $24836.
how did u negotiate? first time to buy a car, no experience
#19371 of 32216 Re: Accord 08 4DR EX-L Auto in TX [howard18]
Feb 11, 2008 (1:55 pm)
Your message #19255 stated that you received a quote of $22,255.71 + tax, etc for a drive out price of $23,886.63 for an Accord 08 4DR EX-L in TX which in a later post you said was Honda Cars of Katy.
I made the same offer to them today on the phone (I had already visited there earlier and test drove an EX-L) and they said there was no way they could do that. Did you actually buy one for that amount, or do you have some documentation from them with that quote? Any information you could provide would be helpful.
#19372 of 32216 Re: Accord 08 4DR EX-L Auto in TX [rheiling]
Feb 11, 2008 (3:57 pm)
There is no way he got a quote for that price. That would be like $1,800 under invoice. Possibly he is talking about an EX.