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Prices Paid: Buying & Leasing Experiences Honda Accord Lease Questions
3626 messages, Last post on Dec 03, 2009 at 1:12 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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kyfdx, CAR_MAN - I'm in the process of leasing an '09 Accord EX, and this is my first lease so i wanted to get your advise on a couple of questions as I await quotes from some dealers in Chicago What is the current residuals on the EX for a 36mo lease for both the 12K or 15K mi/yr option? Also, can I assume from your other postings that the M.F. for this car is .00184 for both mileage amounts? We are trying to decide between 12k and 15k for the deal, as we think we are likely to travel 13-14k/yr. Is $.15/mi on a 12k lease typical for excess mileage and what's usually the break-even mileage between a 15k lease and a 12k plus excess mileage charges? (i can calculate it if there isn't a easy guideline) I'm also shooting for invoice ($21993) as the selling price on this vehicle based on your advice, but i'm curious how to handle other fees from the dealer such as the destination charge. Do you think that I can get straight invoice given the current environment or should I bake in the destination charge? Lastly, is there any advantage to putting money down (besides lower payments)? If putting money down will get me a lower M.F. or higher residual, I'm willing to do it, but at ~4.4%, i can't borrow cheaper than that so I don't want to part with any more cash than I have to. Thank you for your advice in advance. This board has been extremely helpful for a leasing newbie and I'm looking forward to my first transaction - ac21
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Replying to: Car_man (Nov 13, 2008 6:08 pm)
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Replying to: dg915 (Nov 18, 2008 5:58 am)
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Just signed the papers in Northern NJ at Mahwah Honda for a 2009 Accord 4 door Sedan EXL V6 3years/ 36000 miles Put down $923.50 for ($375.00 first month, $7.50 MV Tire Fee, $331.00 3 years registration/title fee, $3.00 Temp Plate Fee, $8.00 NJCAR DSP Service Fee, $199.00 Documentation Fee). Price $26548 ( Exactly invoice plus destination) Residual 59% MF .00184 Tax 7% Monthly payment $375.00 thru AHFC ( I redid the calcualtion when I got home and it should come out to $373.75, no complaints here. No back end purchase fees etc. Thank you to everyone on the Edmunds Forum for making this a painless transaction.
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I was offered $332 a month on an EX-L V6 with Navi, $0 Down with first payment due. I believe if I signed and drive it would be $354. Now, I am not sure what the sale price was or the lease rates were. But, does this sound right? Now, I am trying to trade or get rid of my current car, so I am hoping that I can use the deal to my advantage to absorb the negative equity. What do you think? I would be trading a 08 Pontiac G6 with 9,500 miles, leather, roof. With plummeting Pontiac values, I might get screwed. I thought I could lower it down to the 4cyl with navi to lower the lease deal, then factor in the trade. I would be happy just to get a Honda back. But getting loaded Accord sounds nice. Let me know. My payoff on the G6 is around $20-21k. Thanks guys. |
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fyi for future buyers, just signed in Chicago at Fletcher Jones Honda for a Accord Sedan EX I4 - 36mo/15K miles Balloon Financing (leasing is a bad option in Chicago); Invoice + Dest: 20662 Cash Price: 20,000 APR: 5.3% ( AHFC standard) Resididual 60% (AHFC standard) Taxes: 9.25% (i love chicago) good luck everyone. |
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Replying to: bvdj84 (Nov 23, 2008 7:09 am) Wow - $332/mo for an EX-L w/ NAV? Where was that? I'm getting quotes of 439/mo (12k/year). Any info would be much appreciated.
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Replying to: pej7445 (Nov 25, 2008 5:11 am) Now, the low quote I got was apparently an "internet" quote. |
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Replying to: pej7445 (Nov 25, 2008 5:11 am) What was your sale price on the quote? |
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Replying to: bvdj84 (Nov 23, 2008 7:09 am) |
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