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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
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: robertw477 (Jul 15, 2009 11:51 am) |
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Replying to: avalon2000 (Jul 10, 2009 12:53 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: jlee8071 (Jul 11, 2009 8:42 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: koftheworld (Jul 14, 2009 6:17 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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I am looking to trade my 2003 ford explorer on a 10000 mile/yr (possibly 12000) 2 year lease for a Honda Accord LX-S 2dr. Msrp 23,205 Invoice 21,044 Kbb puts my trade in value 6700 for "good" condition, which it is, and it is paid off. I want a just straight up trade (I know it is odd but it fits my unique situation perfectly). I have cash available that I would prefer not to use, but will If I see value. I chose this model Accord because it seemed to fit the equal trade the closest based on the lease calculators I have been using. I am a using residual of 66% and not sure how/if the money factor is relevant. I want to be aggressive in what in get in return for my trade, but even trade is almost ideal (ideally I would get cash back). How can I expect the dealer to view this? Am I in the right range as far as MSRP to meet my goal? Overall, how can I maximize the car I get in return for what I am offering? |
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Replying to: Car_man (Jul 16, 2009 2:03 am)  Thanks!
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| I'm being offered $384 a month for 36 months with $750 down to cover first month and inceptions for an 09 accord coupe 4cyl auto with nav. Selling price $24925 residual is 51% for 12k miles and money factor is .00171. Does this look like a good deal? | |
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Replying to: jlee8071 (Jul 13, 2009 11:54 pm) well, based on my calculations, you should be able to get somewhere around $237.42 on up. here are my assumptions to come to that number...remember, i don't know if these have changed for july or not... money factor: .00207 Residual: 60% 12k miles/year 3 years 8.75% tax (OC tax rate) Basically, the number i got up there is the invoice price minus the $1500 dealer incentive (they call it a marketing allowance). Without $1500 off, it's $286.11/month. I hope they're still doing the $1500 dealer marketing allowance. if they are, and all the other numbers are correct, then you should be able to get something between the two numbers i mentioned above...just depends on how much you want the dealership to make!  oh yeah...this is with 0 down. probably need to make 1st month payment and doc fees. but, that number i posted above includes the destination fee. so, don't let them make you pay that up front. if they do, then the payments should be lower!
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Replying to: avalon2000 (Jul 16, 2009 2:08 pm)
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A NYC Honda dealer just gave me the following quote today: 2009 Honda Accord 4-dr sdn 2.4 EX-L w/Nav & auto tran -- $29,315 sticker Options: back-up sensors -- $510 retail installed fog lights - $280 retail installed all weather mats - $142 retail splash guards - $101 retail installed color: optional, prefer white Adjusted Sticker: $30,348 according to www.truecar.com, without above options, vehicle could be had for $24,500 in the NYC metro area. Add in a reasonable 50% cost of options retail cost, $517 + $24,500 = $25,017 true base cap, but, as seen below, dealer wants a calculated $26,785. Sign & Drive Lease w/Honda Finance 36 mo./ 15k miles  yr. Tier 1 Credit NYC sales tax 8.375% Residual 51% Money Factor .00195 $436 mo. Based upon my Lease Calculator computations for dealer quoted prices, working backwards: MSRP: 30348 Base Cap Cost: 26785 [dealer asked] Costs Added to Lease: 195 [doc. fee] Cap Cost Reductions 0.00 Adjusted Cap Cost: 26785 Residual Value: 15477 [51%] Money factor: .00195 Term (months) 36 Sales Tax %: 8.375 Monthly Payment: $402.32 + $33.69 tax = $436.01 Depreciation: 11503 Finance (Rent) Charge: 2980 Total Sales Tax: 1213 Total of All Payments: 15696 Total Lease Cost: 15696 If Base Cap Cost is $25,017, as per my above calculation, then monthly lease payment becomes $379.05, tax incl. And this ASSUMES that the Residual value is correctly a low 51%, as this is the same as for the V-6. ANY COMMENTS??? |
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