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Prices Paid: Buying & Leasing Experiences Honda Accord Lease Questions
3624 messages, Last post on Nov 24, 2009 at 7:59 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: BrianC15 (Dec 30, 2008 1:05 pm) Can someone tell me why we have to deal with salesmen who do not have the correct information and cannot explain how payments are calculated??? |
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Replying to: loonysup (Dec 30, 2008 6:17 pm) Has anyone else had any luck in trading in a lease a little early? I know trade-in values are down, so it may not be feasible. I was hoping they would give me a trade in value equal to the lease pay-off. I can always wait until May when the lease is up and eat the extra mileage. I don't normally have that much mileage, my son started high school in 2006 right after I leased the car, I underestimated how much extra driving I would have to do until he got his own car.
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Replying to: marys236 (Dec 30, 2008 7:29 pm) You are really going to have to weigh how much over you think will be in mileage with what it will cost you to bailout early, One way or the other you will have to pay those remaining payments whether they roll it into a new lease or you just pay them. My Accord only has 24K miles on it so I'm about 13k miles under. I was hoping I would have a little equity in it to trade early since it is in perfect condition, but the dealers won't even appraise it because they don't want any more used cars on their lot since nothing is selling. I do enjoy the car so I don't mind waiting a little longer for something new. David |
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Replying to: marys236 (Dec 30, 2008 7:29 pm) In my 06 Accord lease, I was a point in the middle of the lease, or close to the middle of the lease, I was able to walk away owing nothing. If I had kept it, I too would be turning it in this January 09. I would have been over my miles too, that would just eat into any equity I had. It will not be alot, but should be some, but still depends on those conditions being just right, even for Honda. Doing a trade appraisal now, would be smart. Then you can see exactly where you are at, Perhaps getting the trade appraisal at more than just 1 dealer. Pay off versus your Trade-in Value is exactly what they look at. As long as your car meets those conditions, you should be okay. Your so close, I really don't see you having much problem. Honda is one of the few cars you would be able to do this with few problems. Getting a new EX-L 4cyl you want, should be obtainable to where you need to be, with good deals to be had. You have a bit of time to work with, but I would get the appraisal, if it looks good then, then get out, do a new lease. Get a good sale price, get all your miles you need up front, that way you are not putting yourself in the same position years again later. You should be able to do $0 down lease, and get where you need. For under $400, you can get a loaded Accord or Acura TSX. Most dealers will want you out, they see you being a great candidate for a new lease. You can get out anytime you want, but its the timing that affects the money you owe and trade value. Heck you can trade only a few months in, but you are going to owe money, because you haven't touched the pay off amount enough, the value is lower. I never keep my leases for the full terms, have had little problems. Its all about the timing, keep your car in top shape, miles, market. Good Luck! |
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So I 'ordered' an 09 EX-L Coupe Navi 6 speed on Friday, 1/2/09. Reputable dealer who I have leased from before. Said it would take him a couple of days to locate one. Fast forward to today Tuesday, 1/6/08 and he thinks he may have one or two within reach and will know tomorrow hopefully. I checked edmunds' incentive list and it shows that marketing support went from $750 to $1000 as of January 6, 2009 on all 09 Accords. Should this be passed on to me, or have the residuals changed such that its a wash, or worse, maybe the numbers are worse as of the 6th, so I should keep my mouth shut?? Any input would be greatly appreciated. Thanks. btw lease deal is 3 yrs/12k $469/mo everything rolled into payment, incl. tax, bank fee etc. Only thing I have to foot is for new plates and 1st payment. |
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Replying to: joseatt (Dec 22, 2008 8:35 pm) The numbers for an otherwise identical lease of an '09 Accord Sedan EX 4-cyl. are .00250 and 61%. Lastly, the numbers for an otherwise identical lease of an '09 Accord Sedan EX-L 4-cyl.are .00250 and 59%. When negotiating your lease on this car, make sure to take advantage of the $750 dealer cash that Honda is providing on it. This cash should enable you to negotiate a capitalized cost for your lease that's below dealer invoice. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: reechz (Dec 30, 2008 1:35 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: nomisny (Jan 06, 2009 9:23 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: nomisny (Jan 06, 2009 9:23 pm) I think the payment is decent. Though I have seen lower, but that was on a sedan, not a coupe. Honestly, because the Acura TSX is around this price, perhaps a bit higher, and they lease a bit better. Let us know, Its decent, but really want to know the sale price, the fees rolled into the deal. Sounds like the sale price isn't really good. |
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Thanks for the info carman and bvd. It is a v6 speed ex-l w/ navi I ordered. By fees I really just meant tax and bank fee. Besides that, I think it's just DMV. Either way, all I'll be paying upfront is first months payment and plates. Anyone know if the residuals or money factor got better, worse or stayed the same this month? Thanks again,
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