Last post on Dec 06, 2013 at 5:39 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Honda Accord, Car Leasing, Coupe, Sedan
#5320 of 5563 Re: Shopping for a lease on Accord EX Manual or Accord Sport Manual [camokatu]
Jul 01, 2013 (10:41 am)
I'll answer in reverse order.
Based on a look back in this forum, both the carryover 2012 and the redesigned 2013 were introduced in Sep so I would expect the same.
As for residuals, I suggest you do some detective work and go back through old posts to determine when Honda has traditionally changed the residuals and maybe you can predict.
You can buy a report from Consumer Reports where they claim to show dealer's cost. Of course, with incentives based on sales, not even the dealer actually knows today the final cost of the cars on his lot. My point was the MSRP's are meaningless so negotiating down is not the optimal way to go.
Write down your new username so you don't develop multiple personality disorder
#5321 of 5563 Re: Shopping for a lease on Accord EX Manual or Accord Sport Manual [huskerfan5]
Jul 01, 2013 (12:07 pm)
Thanks huskerfan5, I'll try to remember this one
Reading through posts I see "flex cash" mentioned. What does this term mean?
#5322 of 5563 List of real lease fees
Jul 01, 2013 (12:03 pm)
I've read enough posts and articles to see that dealers sometimes charge made up fees, or inflate real fees during leasing. Is there a list or perhaps someone can reply with one of the legitimate fees that one can expect to see during lease negotiations and their range values.
#5323 of 5563 Re: List of real lease fees [camokatu]
Jul 01, 2013 (5:57 pm)
The Honda Finance lease inception fee is $595. You can get the tier one credit money factors by asking Car_man in this forum or going to the lease calculator at the Weymouth Honda website. I'm not even aware that Honda Finance lets dealers mark it up at all.
I believe $500 flex cash is money made available to certain dealers by Honda to sweeten the deal. A savvy buyer following the Prices Paid forum will negotiate a deal based on his location and then ask for the $500 flex cash. If anyone can add to this, please jump in.
#5324 of 5563 First time leaser
Jul 03, 2013 (6:48 am)
So I'm still digesting this site and reading through the forum, but went in to honda to test drive and get more info on leasing an Accord EX-L w/ navi (not a V-6). I used the Weymouth Honda calculator that I saw referenced on here...I'm getting VERY different amounts than what the dealership told me.
Total sale price of the car is $29,140, $554 due on delivery, and for a 36 month/12,000 mile lease, they told me $388.92 with a $1,500 downpayment...from reading on here I am thinking this is not a good deal at all...any help?
#5325 of 5563 Re: First time leaser [cnivens]
Jul 03, 2013 (12:27 pm)
The main difference is that Weymouth is selling the car for about $1K under invoice and your dealer for $1K above invoice. If you "digested" my posts, you would know that you want to minimize what you pay at inception. I'm sure it was the salesman who suggested putting $1500 down. Do you know why? It's because if you put down only $1,000, your payment would come to over $400 and psychologically, that sounds so much worse than $388 and your payment would be over $430 if you didn't put anything down.
Incidentally, even if the numbers were close to Weymouth, there is no way I could tell you if you got a good deal since it varies by state. If one state has high sales tax and high registration fees and another has no tax and low registration fees, the same scenario could be a good deal in one state and a bad deal in another. You need to provide details if you want help.
Read the prices paid forum and get an idea of what your car should go for where you live and let the next salesman know you did your homework and you'll be treated differently. Your response should have been, "could you double check that, I think you added the $1000 to the invoice instead of subtracting it" and after he gave you the new price (which will probably be less than $1,000 under invoice) you can negotiate from there.
#5326 of 5563 Re: First time leaser [huskerfan5]
Jul 05, 2013 (8:14 am)
I am new to all of this, so apologies if this is dumb question, but how do you find out invoice price on the car? If in Weymouth example I add $500-$1000 I get approximate invoice price, but what about other dealers? Does everyone pay the same invoice price?
#5327 of 5563 Re: First time leaser [camokatu]
Jul 05, 2013 (10:26 am)
You can find the invoice price on this site by clicking "New Cars" in upper left and selecting your make. KBB.com also has new car pricing. I have found that Edmunds frequently doesn't show the premium for certain colors while KBB does.
Not sure what you mean by "does everyone pay invoice price". You negotiatie the price of the car at each dealer. The Prices Paid forum is helpful for you to get an idea what others may be paying for your model in your location which will assist you in your negotiations. Study hard because the salesman will quickly size you up and try to take advantage of your lack of experience.
#5328 of 5563 Re: First time leaser [huskerfan5]
Jul 05, 2013 (2:21 pm)
Quick question so to start another thread.
I was quoted a selling price of $22,883.72 for 2013 Accord EX Manual. I was told that monthly payments would be $309 with sign-and-drive no money down. Fees are $371.10. Residual 60%, MF 0.00089.
According to my calculations from http://www.theautoleasecalculator.com the price with fees should be around $256 per month. Are my calculations correct? Is acquisition fee usually included in selling price, if not then payment is still around $273 per month.
#5329 of 5563 Re: First time leaser [camokatu]
Jul 05, 2013 (5:58 pm)
Should read "Quick question so NOT to start another thread. "
Doing more calculations, specifically adding destination price and acquision price to the mix yields a figure close to $309. I hate when they don't disclose everything up front.