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Prices Paid: Buying & Leasing Experiences Honda Accord Lease Questions
3597 messages, Last post on Nov 09, 2009 at 2:56 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Very happy with only one day of research. Thanks to the last few pages of this thread and lease price digging, I was able to score the following lease today at Power Honda in Costa Mesa, CA: 2007 Honda Accord EX-L V6 (Auto) + wheel locks, mudflaps (dealer freebies) Gross Cap Cost: 23,532 Term: 36mo/15K miles Money Factor: .00050 We put down only 946.46, monthly payment $290.70.
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I was able to get the following lease deal over a just few emails last week. I picked the car up on Saturday... 2007 Honda Accord EX-L V6 (Auto) Base Cap: $24,857 Term: 24mo/12K miles Money Factor: .00050 Residual: $18,196 (66%) Sales tax (IL) was 7.25%. And I didn't know this, but I guess IL and TX have different lease terms, as far as tax goes. It does tax on the cap cost, and that becomes the adjusted cap cost then. I traded my "had better days" 1999 Civic LX in with 117K miles, and forced them to give me $3000 for it. That was my down payment. I only paid $380-something for first month + plate transfer fee. Monthly payment = $272 I have a modified 2006 GTO as my go-fast toy, but I have to say, this Accord not only has a little pep to it, but the handling and steering response was a lot better than I was expecting. The car doesn't feel "mushy" at all, I assume the 17" wheels help that, but the ride is still smooth and not harsh. Put 3 coats of Zaino on it yesterday, and we're good to go!!  Brian |
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Replying to: Car_man (Aug 30, 2007 2:22 am) Thanks for your advice. The good thing about my deal was that he sent me a complete statement via e-mail with everything laid out, including the money rate and the residual, etc. He didn't waiver on the price at all and completed the deal in 15 minutes. The only thing I didn't like was when I asked for a quote for the price of the car, he gave me one. When I asked him in a second e-mail for the money factor, etc., he said that the price was $800 more because American Honda offered less on a lease than a buy. However, as you mentioned between the low money factor and the nothing down, I felt I came out okay with a 285 payment, including everything. Thank you so much for providing your insights. I really feel you've evened up the playing field for the consumer.
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Replying to: wilkich84 (Aug 30, 2007 7:49 am) Details. EX I4 MT Carbon Bronze Selling: 20,800 Drive off $767 (first month payment, doc fee ($40) and cap cost reduction. on the CCR, I actually could have put less down but I thought that Honda required a security deposit. The dealer didn't and I just applied to CCR) Money factor .00065 residual 58% Payment. $239 plus tax is $254 With some haggling, I probably could have done slightly better (at invoice probably) but I was fairly happy with the $s. We did it at Honda of Oakland. I had a horrible experience there 3 years ago buying a Pilot and went somewhere else. However, this time was completely different. Good sales guy who let me take an extended test drive (an hour) so I could get used to the stick. Did not insult your intellegence like so many others. I showed them the leaseguide.com printout of what I wanted and they came close. At least, they matched my best written quote. Anyway, love the accord, which was not my first choice but has instantly grown on me. Thanks everyone in the group. |
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Hi - great advice on this site! I missed the boat on this past weekend's deals. Looking to lease an Accord EXL for 3 years, 0 down, 45K miles. What should I expect from Honda at this time, given that it is the end of the 07's? Excellent credit history, ready to go...
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I am interested in leasing an Accord ex-l automatic 4 cyl(no navi system) for 24 months with 18k miles per year. Any idea on money factor,residual,monthly lease payments(exclusive of state sales tax) on a no money down lease(other than Honda finance fee of $595 and first month payment and motor vehicle fees).I have excellent credit and my current honda finance lease on an acura is coming to an end at the end of september. Thank you for your help.
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Yea guys, i called to see if i can lease an ex 4cyl today, they said with nothing out of my pocket my payment will be $431 a month, for 24 months, do you think honda will release another lease special on it?
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| yes, they may have slight difference in deal, but 24mths would be a higher payment, but not that high. August was a good deal, some dealers will try to get a profit from there 1 or 2 accords they may have left, they don't mind having a few, because that way when someone does not like or want the 08 model, they'll go right to the 07, and they have no where else to go. I suggest going to multiple dealers, email dealers, there are 07's out there, but limited, very limited, my dealer has more coupes, and like 1 V6. They are not worried about they few that are left, they are back ups. Just keep looking. You'll find a dealer wanting to sell more. | |
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Carman, Yesterday (9/8/07) I was quoted the new lease program for a 2007 EX-L V6 Accord Sedan. For a 36 month lease with 12K miles they are telling me the numbers are 55% residual and money factor of .00285. This seems higher than what I had been reading here...(56% residual and a factor around .0006). I can still get a purchase price around $2000 below dealer cost but before I ink a deal I was wondering if this is correct for Septemeber or can I do better? Thanks
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The lease deals on the 07's are back to normal, there really is no incentives on them. I got quote $499 for an EX-L navi 4cyl. That is high, but with no money down. These are normal rates, but perhaps a bit high due to a quick quote too. So basically it'll be like the 08's. I told the salesmen that 07 EX-L navi, will be sitting for a while, with 08's out, it'll either be, New style, or the 07 model for about the same deal. Really if you think about it, Leasing or purchasing a Honda is expensive, but you get what you pay for right. Right now it would be better to purchase an 07 accord than to lease one. Incentives are only on buying one. |
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