Last post on Dec 04, 2013 at 2:02 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Honda Accord, Car Leasing, Coupe, Sedan
#5083 of 5551 Re: Accord 2013 LX Lease [dhyun3]
Mar 12, 2013 (2:28 pm)
I just got into an EX with $0 down for $312/month (Money Factor .00125) 36 months, 15k miles. If that gives you any idea.
#5084 of 5551 Re: Accord 2013 LX Lease [acfkel]
Mar 12, 2013 (3:07 pm)
Can you please provide more detail? Thanks.
#5085 of 5551 Re: Accord 2013 LX Lease [dhyun3]
Mar 13, 2013 (8:51 am)
If you know your Net Cap Cost, Residual, and Money Factor, you can work the math out as well. However, the Weymouth website does this for you, and is a good resource in checking out if you come out with the same numbers.
I know the numbers before going in and ask a variety of dealerships to provide this information before so I can do the math. Once you have this information, it really just comes down to whoever gives you the best deal.
#5086 of 5551 Re: Accord 2013 LX Lease [acfkel]
Mar 13, 2013 (9:00 am)
I could be wrong but based on your information you provided initially, this is what I came up with:
Deprecation Fee = $22,165 (Net Cap Cost) - Residual of $14,988 ($24,980 x .60) / 36 months = $199.30
Finance Fee = Net Cap Cost + Residual ($37,153) x Money Factor (.00107 aka 2.57% APR) = $39.75
Total lease payment: $199.30 + $39.75 = $239.05 *not including taxes, fees, etc.*
If you roll that $1,500 into your payment over 36 months, it would increase your monthly payment by about $42.
$239.05 + $42 = $281.05 (Total lease payment with nothing down)
#5087 of 5551 Honda Accord LX Coupe Lease
Mar 13, 2013 (5:17 pm)
Does anyone have any information on what this car is leasing for in Ohio? Are there any specials or incentives? I've been given this info on the LX-S:
Sale price = 22938. 59% residual; .00107 MF, 1100 out of pocket $300 per month. 36K lease.
Also, if you have any info on the EX, I would be interested in that information as well. 6.75% sales tax.
#5088 of 5551 Re: Honda Accord LX Coupe Lease [redbone55]
Mar 13, 2013 (5:51 pm)
Read through the forum, use the Weymouth calculator. $300 is too high.
#5089 of 5551 Re: Honda Accord LX Coupe Lease [acfkel]
Mar 13, 2013 (6:53 pm)
I did use the calculator. When I presented those numbers to the dealership, they said that there must be some regional specials that are running in Boston, and said those numbers don't apply to the Ohio area. This is from Germain Honda, Columbus, OH. It sounds like I need to press them to get the same type of deal.
#5091 of 5551 Residual Value & Money Factor/Interest Rate
Mar 14, 2013 (3:53 pm)
I recently went shopping for my first lease ever and was quoted 328/month + 3500 down for an Accord Coupe EX. After discovering this thread and the Weymouth site I'm shocked at the price I was given. Thanks to everyone for all the information they provided.
Some general questions: Are all dealers required to disclose the residual value and money factor they are using when calculating their lease prices?
#5092 of 5551 Re: Residual Value & Money Factor/Interest Rate [rotanamud]
Mar 14, 2013 (4:50 pm)
I have leased eight cars and have visited dealerships for makes I never did lease and have never come across a dealership which hasn't provided that. In some cases, I actually asked to see the rate sheet they received from the leasing company. I would never do business with anyone who didn't provide it, otherwise I couldn't confirm the actual price of the car.
Your lease agreement will plainly indicate the residual so there is no reason for them to hide that from you. The agreement will not have the money factor but all the numbers are there for you to do the math to figure it out so there should be no reason for them to withhold the money factor from you.