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Prices Paid: Buying & Leasing Experiences Honda Accord Lease Questions
2744 messages, Last post on Sep 03, 2008 at 8:10 AM
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hello, I have a 2001 Honda civic and I am interested in selling my old car and leasing a Accord. I am wondering were I should begin to gather basic information about leasing to decide if it is the best for me. I like the tax deductions but I have always been warned about leasing. where could I find the basics to learn if this is right for me?
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Replying to: dheinzelman (Feb 25, 2008 7:56 pm) Edmunds Leasing Tips |
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Hi everyone. I worked out my final deal and am waiting for the car to come in before I officially sign all the papers. How does this look?... 2008 Accord EX Coupe in Nighthawk Black Pearl 42 month lease (I know that people have been saying thats not the best idea due to warranty reasons, but I'm not really concerned, this is my third Honda and I dont think I will have a problem in the final 6 months, plus I can always give it back a tiny bit early. Also, my dealer said that with the rates and everything right now, it really is the best option for the Accord coupes) I am putting down $1250 for all taxes and fees and whatnot. The dealer is putting down a cap cost of $1250 for me because they are buying my current Honda from the end of the lease and since they will definately make a profit from it, they are willing to do this. (My boyfriend works in the service department of this dealership, so I think that helped a bit with this part.) Payments were originally worked out to $275 a month, but even though my credit score is a 765 I dont have "enough" credit as I only have 3 items on my credit report and not the required 4 items to qualify me for the Super Preferred Tier. (Don't even get me started on this, I was (and still am) pretty pissed lolol) But anyway, now my payments are $286 a month. Oh and the price of the car was worked out to 22,500. I felt pretty good about it, and I'm sure I would have been fine with it, but now that they are having trouble locating one for me, my mind is kind of racing and I am starting to wonder if for what I am paying I should actually be getting an EX-L. I'd just like some opinions to help ease the mind racing...or maybe it will add to it. Who knows. lol Thanks all!! 
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Replying to: jl17 (Feb 25, 2008 9:58 pm) Just calm down, and do about it all realistically, after all this deal you have to live with for months, Also, I think you can do all of this above on a 36mth lease. That is what my quotes were.If you were to keep the 42, perhaps the payment could go down a bit, but it depends of the lease deals. Do yourself a favor and get other email quotes, and tell them you would like to have an EX-L for around this payment with the money down of course. You could get one for a little or around $300 a month, and not much more than the EX. I know how you feel, you get all excited! But remember don't ever take the first deal, without any investigation. Always push for the best! The dealers don't have to like ya, you just gotta like the deal! Good Luck, and let us know. The black in amazing!!! |
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Right now is NOT the time to lease an Accord. If you have your heart set on an Accord, buy it outright. If you want to lease one, you need to check out the Acuras before you do anything. They have GREAT lease rates right now. And, you can lease a 2008 Acura TL for 36 months/12K year for around $385/month with ZERO down. And, whatever you do, stay away from 42 month leases. Anyone in the car business would tell you that. Those are a ripoff.
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Replying to: omahabiker (Feb 26, 2008 9:16 am) Many others have better deals, were talking $30k cars for the payments of a much lower cost car. More bang for the buck! The accord is not that right now, as far numbers. Don't rule out the Acura!
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Replying to: bvdj84 (Feb 26, 2008 9:40 am) However, the TL will have higher costs of regular scheduled maintenance, higher insurance, lower gas mileage using more expensive premium gas, much more expensive and short treadlife tires than are more likely to need replacing before the end of the lease and a tight rear seat. I wonder if leasing a TL will be worth it for those wanting to save money? Replacing the 4 performance tires on a TL may kill any savings vs leasing a loaded Accord before you even think about additional insurance, maintenance and gas costs. The TSX may have many of these same issues vs leasing an Accord
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Replying to: jaxs1 (Feb 26, 2008 10:41 am) And, if you drive a new Accord V6, and an Acura TL back to back, you'll see a big difference. I really prefer the look of the new Accord over the TL. And, I had my mind set on the Accord EXLV6 Coupe. But, since Acura had such competitive lease rates, I thought I'd take a look. Here in Omaha, the Acura and Honda dealers are right next door to each other. So, a friend and I test drove the Accord and TL back to back. And, as much as I really wanted the Accord, the interior fit and finish, and overall feel of the Acura was MUCH better IMHO. My friend agreed. And, one thing that bothered both of us was that the Accord EXLV6 coupe did not come with a auto-dimming mirror standard. One would think at that level, it would be a standard feature. Anyway, after driving both, it was a no brainer. I wish the Accord would have felt the same and had better lease rates, as I had my heart set on that new coupe. The exterior styling of that car can't be beat. But, at the end of the day, the TL is more car, and I was able to lease it for less than an Accord would have costed me.
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Replying to: omahabiker (Feb 27, 2008 10:33 am)
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Replying to: bvdj84 (Feb 27, 2008 6:11 am) If you buy an Accord sedan without nav at around invoice or less, you will most likely be able to trade it in in less than 24 months for more than the loan payoff. I've done this before and it cost less than the 24 month lease deals that were available at the time. Seems like that's true today also. You can also feel free to put as much money as you want down to lower the payments on a loan because you will actually be saving money with the down on a purchase as opposed to wasting/risking money with the cap reduction on a lease. You will also save the money you would have spent on lease acquisition and disposition fees and can put that money towards a down payment that will save a little interest and make it that much quicker to reach the point where the payoff is below trade-in value. |
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