- #1750 of 3629
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Re: All I can say is - WOW [z0ner]
by Car_man HOST
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Oct 02, 2007 (1:53 am)
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Replying to: z0ner (Sep 03, 2007 10:18 pm)
Congratulations on getting a good deal on your new Accord, z0ner. Thanks for taking the time to stop back and share the details of your lease with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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- #1751 of 3629
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Re: How does this deal look - Lease - Accord EXLV6 Sedan [waters96]
by Car_man HOST
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Oct 02, 2007 (1:56 am)
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Replying to: waters96 (Sep 04, 2007 6:57 am)
You're very welcome, waters96. I think that you got a very good deal. When you negotiated your lease on this car, the $800 dealer cash that Honda was providing on this model was not compatible with its special lease program. So the dealer was not trying to pull any funny business. Enjoy your new ride  .
Car_man
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- #1752 of 3629
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Re: options for Accord lease [bherman]
by Car_man HOST
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Oct 02, 2007 (2:00 am)
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Replying to: bherman (Sep 04, 2007 3:34 pm)
I'm glad that you enjoy this discussion so much, bherman. Unfortunately, Honda is not providing lease support on 2007 Accords any longer. As a result, if you were to lease one through Honda Finance, you would have to use its standard lease program. That's the bad news. The good news is that the dealer cash that you see everyone talking about is compatible with the standard lease program, when it was not compatible with the special lease program.
I would be happy to work up a sample lease payment on the exact Accord that you are interested in for you, but in order for me to do so I need you to provide me with its full MSRP and approximate selling price. For now I can tell you that Honda Finance's current buy rate lease money factor and residual value for a 2007 Honda Accord EX-L 4-cylinder Sedan without navigation with 15,000 miles per year are .00275 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Car_man
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- #1753 of 3629
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Re: 18k mile lease [rudi2]
by Car_man HOST
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Oct 02, 2007 (2:16 am)
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Replying to: rudi2 (Sep 05, 2007 9:41 am)
Hi rudi2. Are you interested in a 2007 model or the new, redesigned 2008 model Accord? Honda was not providing any lease support on either of these cars in September and I do not expect it to introduce any when it announces its new October programs later on today. If that is indeed the case and you were to lease one through Honda Finance, you would have to use its standard lease program. The last time that I saw it, Honda Finance's 36 month buy rate standard lease money factor was .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. You don't want to lease using Honda's 24 month standard lease program because its money factor for that term is much, much higher.
This car's residual values vary significantly by model year, so I need you to tell me which model you want before I can give you an accurate idea of what they are like. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your deal and have to pay an excess mileage penalty.
Car_man
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- #1754 of 3629
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Re: THE ACCORD LEASE SPECIALS ARE FINISHED!!!!!!! [kamran310]
by Car_man HOST
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Oct 02, 2007 (2:55 am)
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Replying to: kamran310 (Sep 05, 2007 9:13 pm)
Hi kamran310. As many manufacturers do at the end of the model year, Honda has pulled the plug on its special lease program for the 2007 Accord. Furthermore, it has not introduced any lease support on the redesigned 2008 Accord yet. As a result, if you were to lease either of these cars through Honda Finance, you would have to use their standard lease money factors. It is difficult to say what automakers' future incentives programs will be like, but if I had to make an educated guess I would say that Honda will not reintroduce lease support on the '07 Accord and that it will be at least a couple of months before it introduces support on the 2008 model. Manufacturers typically like to ride the wave of new model popularity for as long as possible before they introduce any special promotions.
Car_man
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- #1755 of 3629
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Re: New Accord Lease Program [qwazr]
by Car_man HOST
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Oct 02, 2007 (2:58 am)
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Replying to: qwazr (Sep 09, 2007 3:42 am)
Hi qwazr. I am surprised that you were quoted such a low money factor for a lease of a 2007 Honda Accord in September. On September 5th, Honda pulled the plug on its special lease program for the '07 Accord. This means that if you want to lease one, you can take advantage of the dealer cash but you will have to use Honda Finance's standard lease program. The last time that I saw it, Honda Finance's buy rate standard money factor for 36 month leases was .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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- #1756 of 3629
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Re: 2008 Accord Released! Anyone have MF and Residual? [vital411]
by Car_man HOST
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Oct 02, 2007 (3:22 am)
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Replying to: vital411 (Sep 12, 2007 5:19 am)
Hi Andy. I like the redesigned Accord, too. I think that Honda did a great job with it. As one would expect with a new model that has been well received by the public, Honda is not currently providing any lease support on the 2008 Accord. This means that if you were to lease one through Honda Finance right now, you will have to use its standard lease program. The last time that I saw Honda Finance's standard program, its buy rate lease money factor was .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Honda's current 36 month, 15,000 mile per year residual value for an '08 Accord EX-L 4-cylinder Sedan without navigation is 62%.
Car_man
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- #1757 of 3629
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'08 Accord lease rates
by al330ci
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Oct 02, 2007 (5:19 am)
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Hi carman,
Can you please post the money factor and residual for an
08 Accord EX-L 6-cylinder Sedan for 36 months and 12K miles/year
Thanks
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- #1758 of 3629
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Selling a leased car?
by bvdj84
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Oct 02, 2007 (5:59 am)
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Hello!
I am interested in selling my 06 SE leased car. I have 25k miles on it. At what time would be the best mileage and time to sell it. Considering warranty, miles. I am using that income to roll into a 2008 accord lease deal.
Honda does allow me to sell it, but does not support it, it will take 2 weeks to receive my title upon payment, and then transfer it to the new owner. Thank you so much for any advice. I am in no hurry to sell it, considering most are not dealing on the 08 now anyway.
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- #1759 of 3629
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Re: Selling a leased car? [bvdj84]
by dwynne
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Oct 02, 2007 (6:58 am)
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Replying to: bvdj84 (Oct 02, 2007 5:59 am)
In most states you will have to pay sales tax to buy out your leased car, then your buyer will have to pay sales tax as well. This double tax would likely mean either you make no money or the buyer would be run off due to the high price. You CAN go through a licensed car dealer and avoid the double taxation, but you will have to pay them for their time and trouble.
My guess would be that the used Accord market is a bit down since a lot of previous generation owners and coming out of them to get the new 08 Accord and I would not expect that to get a lot better. For sure, waiting until the base warranty is up (at 36/36k) will make it a lot harder to sell your used car. The problem is your car depreciates as you drive it while waiting for a deal on a new 08. So it could be that any savings on the new car you net as a result of waiting may be eaten up by getting less for your used car.
I assume you have compared your lease buy out price (not including tax) against the Edmunds/KBB/NADA trade and retail values? I would be surprised if there was THAT much profit in the difference. Selling it yourself without the title in hand can be a real pain - you will ask for cash or a legit cashier's check and then not have a title to give the buyer - that alone may send them to another seller.
Dennis
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