Last post on Dec 05, 2013 at 9:33 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Car Leasing, Coupe, Sedan
#5108 of 5554 Accord Sedan LX CVT Base
Mar 27, 2013 (11:51 am)
York, PA - 2013 Honda Accord Sedan LX CVT MSRP $23,270
24 month lease, 12k miles per year
I received a "No-hassle Internet pricing" quote via email by clicking on a link at the dealer's website. Followed up in-person with a test drive and requested additional information via email.
Here are the details I received:
Sell Price: $20,700.00 ("no-hassle" email quote)
Wheel Locks: $99.00 (quoted via email)
Adj. Sell Price: $20,799.00
Lease Aq. Fee: $595
Lease Incentive: $500 (had trouble understanding the salesman via email but it sounds like they may have a $500 incentive right now? - will verify tomorrow when I visit)
Net Cap Cost: $20,894
Res Value (67%): $15,591 (quoted via email)
Money Factor: .00107 (quoted via email)
Finance cost: $937
Monthly Payment: $260.00 (not including PA tax + no money down)
Tag + Fee (that is how he worded it): $93.05 (quoted via email)
Doc Fee: $131.00 (quoted via email)
Does it seem reasonable?
I also asked them if they have less than 12k miles lease and his response was: "There are no low mileage offers, but the great thing is that with your low miles the car will be worth more at the end. What I am meaning is typical at the end of a Honda lease our customers has equity in their cars which benefits them in their next purchase."
#5109 of 5554 Re: Accord Sedan LX CVT Base [fatgordy]
Mar 27, 2013 (1:00 pm)
Do you really need the car for only two years? The residual for a 36 month lease is 61%. Adding your taxes and fees, your payment will be close to $40 a month less.
#5110 of 5554 Re: Accord Sedan LX CVT Base [huskerfan5]
Mar 28, 2013 (4:24 am)
Not sure how you calculated this. If you are suggesting that if taxes and fees are rolled into a 36 month lease then the price would be $220 using these numbers, I do not agree. Rolling in taxes (assuming 9% on leases for most parts of PA) and the $820 in fees, then the price is more like $247 / month for a 36 Month 12k/year lease. This is using a money factor of .00097 for a sign and drive lease.
The initial quote however, does not seem to be sign and drive and looks those fees are paid upfront. Paying those fees upfront and using .00107 as the money factor , I come up with paying $820 at inception and $225 / month (using 9% sales tax).
Although the fees seem to be pretty reasonable, I personally don't see a reason to pay those fees up front with rates being so low but that is a personal decision.
However, I do think you can do slightly better on the price of the car, I have seen offers a fair amount lower and especially going into the final weekend of the quarter I suspect you could do better.
#5111 of 5554 Re: Accord Sedan LX CVT Base [brcar]
Mar 28, 2013 (7:49 am)
What I meant was that if you also took the taxes and fees into consideration for both leases, the difference for a 36 month lease with 61% residual and a 24 month lease with a 67% residual would be about $40/month.
Personally, I always put my fees into the lease in case the car is stolen or totaled in an accident. Especially with rates low as you say, this is really cheap insurance.
True story. My supervisor was from France. His father picked up his new Peugeot, parked it on the street in front of his apartment house in Paris and when he got upstairs and looked out the window, it was already gone.
#5112 of 5554 Re: Accord Sedan LX CVT Base [brcar]
Mar 28, 2013 (1:55 pm)
I tried everything I could but they would not go any lower on the sale price of the car ($20,700). I even went into detail about a local competitor and how they had a better lease offer and included free scheduled maintenance, etc. They wouldn't budge. He even went and got the invoice and showed me that it was ~$100 more than the sale price. He did however take off $99 for the wheel locks. I also got $200 more than what I was hoping for my trade so I'm pretty happy over all. And I did confirm that there is a $500 lease incentive right now, which sweetened the pot. Fees were also as quoted (and I did have them rolled into the lease). All said, I'm happy with the offer. Thanks for the info.
#5113 of 5554 2013 Accord EX 3 Year Lease DONE!
Mar 31, 2013 (6:44 am)
Drove away on Saturday, March 30th with my new 2013 Accord EX. Went for 3 year lease as follows;
Honda Financial Services
$275.00 per month OTD
All fees, Cap Cost Reduction and taxes taken care of in the $1750.00 upfront payment.
Could have I done better? Yes, but let's face it, I needed a car as my old lease was expiring in 3 days.
Car is great!
#5114 of 5554 Re: 2013 Accord EX 3 Year Lease DONE! [russharris]
Apr 01, 2013 (1:29 am)
Congrats and good luck on your new lease. If you don't mind, which dealer did you use and would you recommend? I'm also in the market in Central, NJ.
#5116 of 5554 Re: Accord Sedan LX CVT Base [brcar]
Apr 01, 2013 (5:56 am)
Your calculations were correct, poster, but the deal fatgordy quoted was based on 24 months, not the 36 you calculated (I couldn't figure out what was going on till I reread the offer a few times over... and then it hit me!)
"However, I do think you can do slightly better on the price of the car, I have seen offers a fair amount lower..."
I spent some time yesterday going through the threads from roughly the beginning of the year over in the Accord "Prices Paid" forum and - as another poster wrote there - there's a lot of "BS" numbers (e.g. $1500 under invoice for a 2013 in N.J.? C'mon...) As I wrote in the post HERE, it's appropriate to expect some proof of these kinds of claims.
If you've got some lower, would love to get some leads as I'm doing something within the next three weeks
Thanks in advance!
#5117 of 5554 Re: Accord Sedan LX CVT Base [fatgordy]
Apr 01, 2013 (6:05 am)
Most appreciative of your comprehensive offer details and layout: makes it real easy to understand! Wish more of the presentations were like this as the typical "$XX,XXX OTD" is useless. Thank you
My feeling is that, on the lease side of things, you received a good deal (naturally, when a trade is involved it sorta' "muddies" matters.)
Nonetheless, going over to use Weymouth's calculator shows 277/301.93 w/9%tax for their "First & (their) Fees" 0.00107 offer.
You should be quite content with your lower numbers (and for getting those wheel locks off the bill), hope you enjoy the car and thanks again for the info!