Last post on May 25, 2013 at 5:28 PM
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Honda Accord, Car Leasing, Coupe, Sedan
#4023 of 5265 Re: Did I Get "Taken for a Ride" on My Honda Accord EX-L V-6 Lease? [heat_miser]
May 18, 2010 (8:49 am)
I fully agree with what others have already posted in response to you. Now, if and when you have a chance to negotiate another deal, maybe you better be more conservative about your trade-in expectations. It seems to me you were given such a good trade-in allowance just to lure you into the deal. $7750 on a 2003 Accord EX-L V6 in average condition sounds a bit too optimistic. Also, forget about $1100 service credit. Any service you performed on your trade-in turns dust and has no negotiating value. The only things that matter are, basically, the model year and maybe mileage to a certain degree.
#4024 of 5265 honda lease lx , illinois
May 18, 2010 (8:37 pm)
I got interested in a lease for my daughter for last 3 years of college. never leased before.
Prior to arriving at dealership, I called in reponse to an ad and was told I would need to put down about 3.5k and lease payment of $129. Sounded pretty good. Closed end lease, gap isurance yada yada ya.
heres what they offered me:
disc $ -4885
Vehicle price $17680
Deal "pro Pack" 595 (mudflaps?)
Tot Cap 18275
down pay $1800
nmet cap 16475
#^ month payment 128.98
Down payment $1800
lic/title $ 219
doc prep $ 154
bank fee $ 595
ist payment $ 128.88
due on delivery $4189
i walked out as i thought they should have included the bank fee in the price and not the accesories with a due on delivery 595 less.Note how the bank fee and the accesories are the same price.
Should i take the deal or play hard ball?b>
#4025 of 5265 WA Washington State Leasing Laws
May 19, 2010 (1:02 pm)
I signed a lease for a Honda Accord that hasn't arrived on the lot yet. I left my car with them. In fact, they DEMANDED it... I was skeptical and asked a lot of questions about that. They gave me a loaner. I realized I got a raw deal on the lease pricing and wanted out and wanted my car back. They are saying that they own it now because I signed the papers... I received NO documents on the transaction except a Temp Registration on the car I didn't receive yet. Is this legal? Can they keep my car and bind me to the lease? I noticed on the Attny Gnrl's website that there is no 3 day "right of cancellation" on leases in the state of WA, but it says all pre-conditions must be met (whatever that means).
#4026 of 5265 Re: WA Washington State Leasing Laws [heat_miser]
May 20, 2010 (12:34 am)
Apparently it is not legal to hold a lessee to a lease agreement if the lessor did not give the lessee a dated written statement of required disclosures prior to consummation of the lease. Title I of the Federal Consumer Protection Act re: Consumer Leasing says the following:
Sec 182 reads as follows:
§ 182. Consumer lease disclosures
Each lessor shall give a lessee prior to the consummation of the lease a dated written statement on which the lessor and lessee are identified setting out accurately and in a clear and conspicuous manner the following information with respect to that lease, as applicable… (then a list of disclosures follows)
WA State Law agrees with Federal Law by stating the following:
Unlawful acts or practices — Consumer lease of a motor vehicle:
Each of the following acts or practices are unlawful in the context of offering a consumer lease of a motor vehicle:
3) Failure to comply with the disclosure requirements of Title I of the federal consumer protection act (90 Stat. 257, 15 U.S.C. Sec. 1667 et seq.), which is also known as the federal consumer leasing act, including, but not limited to, failure to disclose all fees that will be due when a consumer exercises the option to purchase.
Also for good reading is Federal Regulation M:
(1) Form of disclosures. The disclosures required by § 213.4 shall be given to the lessee together in a dated statement that identifies the lessor and the lessee; the disclosures may be made either in a separate statement that identifies the consumer lease transaction or in the contract or other document evidencing the lease. Alternatively, the disclosures required to be segregated from other information under paragraph (a) (2) of this section may be provided in a separate dated statement that identifies the lease, and the other required disclosures may be provided in the lease contract or other document evidencing the lease. In a lease of multiple items, the property description required by § 213.4(a) may be given in a separate statement that is incorporated by reference in the disclosure statement required by this paragraph.
(3) Timing of disclosures. A lessor shall provide the disclosures to the lessee prior to the consummation of a consumer lease.
#4027 of 5265 2010 Accord Coupe EX-Auto Lease
May 20, 2010 (12:55 pm)
I qualify for AHFC's Super-Preferred credit tier. What kind of money factor should I expect from the dealer?
I know they can manipulate it to make a greater profit so I'd like to go in with a "ballpark" number tomorrow.
So far, I've been able to negotiate the cap cost down to $20,899 on the EX Coupe Automatic. Is this a good deal?
Any advice would be greatly appreciated!
#4028 of 5265 Re: honda lease lx , illinois [joller]
May 21, 2010 (4:09 am)
Actually, it doesn't really matter whether the 595 bank fee is paid up front or rolled into the lease (six or one-half dozen of the other). Either way, you're going to pay it. However, if you prefer, the dealer can roll it into the lease. In fact, the dealer can roll in all the upfront fees into the lease.
The dealer pro pack (595) sounds like BS. I have no idea what this includes. If it's only mud flaps, then 595 is a lot of doe-rey-mee to pay for just mud flaps. However, you did get a fantastic selling price (17,680) that is about the lowest that I've seen.
I know that this car is for your daughter and so you probably want to keep the payment as low as possible. However, the effective interest rate is about 3.8% and I would be inclined to roll everything into the lease. Where are you going to get a personal loan for 4,188 at 3.8%? Another issue is that I wouldn't put $1800 down because (a) a car is a depreciating asset and I'm sure you wouldn't invest in stock that you know will lose value over time and (b) God forbid, if the car is totaled or stolen, it's not likely that you'll recover most or all of your down payment.
What is your sals tax rate? It looks like it may be no more than 7%. I always like to verify the sales tax.
#4029 of 5265 Re: 2010 Accord Coupe EX-Auto Lease [willb3989]
May 21, 2010 (6:38 am)
Just browse through this discussion, and you can find most of the answers you need.
#4030 of 5265 Re: May Lease Rates Accord EXL w/out Nav California ? [Car_man]
May 21, 2010 (9:58 am)
Please let me know Honda's current buy rate lease money factor and residual value for a 36 month lease with only 12,000 miles per year of:
a 2010 Accord Sedan 4-cylinder EX-L without navigation; and
a 2010 Accord Sedan 6-cylinder EX-L without navigation.
Thanks for all the great information.
#4031 of 5265 NYC Lease Deal Accord Coupe EX-L
May 22, 2010 (9:25 pm)
I got an offer for an Accord EX-L with no navi for 350 zero money down. Is this a good deal? I was thinking of countering 350 zero money down with the spoiler, moon roof visor and navi- do I have any chance of getting that?
#4032 of 5265 Re: NYC Lease Deal Accord Coupe EX-L [sgrcts]
May 25, 2010 (6:45 am)
You could probably get all of that, but your payment will need to go up to about $390 approx. The navigation is nearly $2k as an option, For every $1k, it is about 20-30 more on your payment. If this is truly what you "want" then go for it, start a new deal on an EX-L with Nav. Be careful about accessories, they are not cheap at the dealer.
Reply back with your sale price they gave you on both NON nav and Nav models.