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Prices Paid: Buying & Leasing Experiences Honda Accord Lease Questions
3629 messages, Last post on Dec 04, 2009 at 9:38 PM
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My story: My lease for my Accord LXSE 2006 comes due in January 2009. My residual is $13,325. The car has 26M miles on it Is it true that Honda will not negotiate the price down (even in this market?) I was hoping that they would rather not have a used car to sell and work with me on a deal. And if they won't work down the price... If I want to buy the car, would Honda offer me a decent apr to finance? Or should I not even bother trying? If I buy the car outright, would I get more than the $13,325 as a trade in for another car? Would a Honda dealer make a deal applying the value of the car for a new one without me buying the car? thanks for any advice you can offer.
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Replying to: reechz (Dec 04, 2008 6:50 pm) Negotiating the price of the car at lease end is not an option, it is already set in the contract. The loan APR will be determined in your new loan, going through American Honda Finance will increase your chance of getting a better rate, since you would be a returning customer. If you buy the car, then trade it later, you could get more than the trade amount offered now, but not likely. That seems like a fair price for a trade. But, just to let you know, that you may trade your car in now anywhere you want. Meaning, you do not have to buy the car and then trade it. You can trade it for any car. They simply look at your pay off amount versus your trade in, as long as you owe less than your trade amount, you can successfully trade at equal or with some trade equity. Yes, if you want a new Honda, they will use your car as a trade, and use any equity for that on your new lease. Take a look at your pay off and see how close you are to your trade in value amount, that will give you an idea of what numbers you would be look at when trading. You should be decent since your trade is a Honda. I see no problems. Just do not expect tons of equity to roll into a new deal, its a Honda, that will help, but be glad, because if you had any other car like a GM product, you would be far off. I see you breaking even on the deal. Good Luck! I Hope your staying with Honda! |
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Replying to: bvdj84 (Nov 14, 2008 6:43 am) |
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Hey, I am intrested in a 24 month lease on an EX-L with navigation and bluetooth, zero down. I went to the dealer today to get some numbers and they offered me 430 a month for 30 months, zero down. This is also my first time with a lease, and my first car. I am leaning more towards a 24 month lease because when i go to college, you aren't allowed a car on campous for at lease 2 years. So could i get a better deal? Any help would be fantastic!
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Replying to: jerseyboy92 (Dec 05, 2008 7:17 pm) |
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I just received two phone calls and one email from my local Honda dealers in Saint Louis MO and they all told me there is an additional $750 "lease incentive cash" available from Honda...lowering my payment about $20 a month...not sure if this is nation wide or not...just wanted to give everyone a heads up! Good luck, and post your findings here!!!
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Replying to: tenstepn (Dec 06, 2008 4:57 pm) They worded it so that it seemed like the 750 bonus cash was only available this weekend. Did the dealers you spoke with mention how long the offer was good for?
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Replying to: zman16 (Dec 07, 2008 12:36 pm) Brian |
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Replying to: toyoman8 (Nov 30, 2008 6:36 pm) Interesting how much used car pricing can vary for a similar mode/mileage. Must be something there to create such differences. |
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Replying to: asheh (Dec 02, 2008 6:53 pm) Here is the new lease quote for the 09 Accord EX 4cyl. sedan auto. Honda lease: 36/12 K with $2000 out of pocket your monthly payment $250/mo. incl. tax The 09 Accord EXL 4cyl. sedan auto : Honda lease: 36/12 K with $2000 out of pocket your monthly payment will be $273/mo. incl. tax. Please keep in mind that the finance managers usually calculate the final payment with tax because there is interest that is involved in the lease. I may be off by a dollar or two. Keep in mind that the 2k is fees (about $300 is cap cost). Ashe
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