Last post on Dec 06, 2013 at 3:45 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Car Leasing, Coupe, Sedan
#4975 of 5561 Residual Value of Accord with NAV
Feb 18, 2013 (10:00 am)
Can someone explain to me why the residual value of an Accord EX-L with NAV is 2% lower than one without NAV?
#4976 of 5561 Re: Residual Value of Accord with NAV [willfine]
Feb 18, 2013 (10:12 am)
Nav is an overpriced option (initially, 2000) that doesn't add much (only ~600) to the 3 year residual value of a car.
without nav 17271 (msrp 28785)
with nav 17855 (msrp 30785)
#4977 of 5561 2013 Honda Accord Lease
Feb 18, 2013 (7:42 pm)
This information was received today from a local dealer. This doesn't look good to me. My monthly payment comes to $286 using the information below; not taking into consideration taxes and fees or any possible dealer incentives/rebates. Any feedback?
2013 Accord EX
MSRP - 26,195
Sale Price - 24,236
36 months 45k
Sign and Drive - 337
Money Factor - .00125
Residual - 15,717
#4978 of 5561 Re: 2013 Honda Accord Lease [acfkel]
Feb 18, 2013 (7:52 pm)
i get 35 payments of 313 (or 36 payments of 304) using your data and a 595 acq fee. there are no incentives at the moment. The sell price should be closer to 23.0-23.5 k, not 24236.
#4979 of 5561 Re: 2013 Honda Accord Lease [pegasus17]
Feb 19, 2013 (5:49 am)
Thank you. This individual is not being straightforward or telling me how they arrive at a payment of $337 sign and drive. They are dancing around my questions. Probably should move on, correct?
#4980 of 5561 Re: 2013 Honda Accord Lease [acfkel]
Feb 19, 2013 (6:47 am)
I'd give them another chance. tell them you need to understand how they came up with 337 when you came up with a lower number. The lease calculator is fairly easy to use - check it out:
#4981 of 5561 Re: Residual Value of Accord with NAV [pegasus17]
Feb 19, 2013 (7:06 am)
Thanks Pegasus17. I can understand why a third party leasing company would do that, but not Honda's own. There's enough profit in NAV that they could easily support the price of that option by bumping up the residual value. BMW Finance does that all the time to boost sales. It seems very shortsighted to me.
#4982 of 5561 Re: 2013 Honda Accord Lease [pegasus17]
Feb 19, 2013 (10:39 am)
Thanks again, pegasus. We will see. I thought a lease payment was calculated on a depreciation fee + Finance fee. Based on the information I was given wouldn't that be: $286?
Depreciation : 24236-15717 \ 36 = $236 (approx)
Finance: 24236 + 15717 x .00125 = $50 (approx)
#4983 of 5561 Re: 2013 Honda Accord Lease [acfkel]
Feb 19, 2013 (11:22 am)
Lease acquisition fee is 595
#4984 of 5561 Re: 2013 Honda Accord Lease [pegasus17]
Feb 19, 2013 (11:44 am)
That would still only bring it up to $302 if I didn't pay it up front, correct? If I paid that up front, then it should be $286, don't you think?