Last post on Dec 06, 2013 at 5:39 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Car Leasing, Coupe, Sedan
#5336 of 5563 Re: When to lease [camokatu]
Jul 09, 2013 (12:42 pm)
Re-read post 5315
#5337 of 5563 Re: When to lease [huskerfan5]
Jul 09, 2013 (1:05 pm)
Yes, that the post I was referring to. At the end of June I had the following numbers for 2013 Honda Accord Sport Manual for example from Weymouth Honda:
- residual: 59%
- MF: 0.00089
- price: $21506.05
- lease price: $265.63 (includes tax)
When I checked today it is:
- residual: 58%
- MF: 0.00075
- price: 21,490.43
- lease price: $266.69 (includes tax)
This shows how residual affects final price even though MF and sales price have decreased. So what I am worried about here is that as I move to August and September, available 2013 models especially manual will become less available (hard to negotiate price?) and 2014 models will just start showing up, making negotiations hard as well?
While the numbers above the difference is only $1 per month, but as I said with lack of cars I might have hard time getting a good deal. Thoughts?
#5338 of 5563 Re: When to lease [camokatu]
Jul 09, 2013 (1:57 pm)
The biggest factor is the money factor. No way to predict, it's the economics dept vs the marketing dept.
A point drop in the residual would be offset by about a $250 decrease in price. That's not going to kill you if you guessed wrong by a month.
Why don't you check out the board last Sep and see how residuals changed. This year's change should be less since it isn't a redesign.
#5339 of 5563 Re: When to lease [huskerfan5]
Jul 09, 2013 (2:19 pm)
OK, thank you for your help.
#5340 of 5563 Accord EX-L MF and Residual.
Jul 10, 2013 (9:17 am)
Carman can you please give me the MF and residual for Accord EX-L w/Navi and w/o Navi. Also if there is any incentives offered this month. Thanks
#5341 of 5563 2013 LX
Jul 11, 2013 (11:10 am)
Is it possible to lease LX for 3 yr/12k 0 drive off $220 a month?
#5342 of 5563 Re: 2013 LX [syr]
Jul 11, 2013 (11:24 am)
There are many factors at play in setting lease price of the car: sale price, residual value, money factor, state you are in (tax, registration fees). Quick look at lease calculator from Weymouth Honda shows around $270/mo with sign and drive.
#5343 of 5563 Honda Cash on Accords?
Jul 12, 2013 (10:53 am)
CarMan (or anyone)... Is Honda providing any cash on 2013 Accords (specifically EXL V6 trim)?
It looks to me that inventory is bloated but not many V6s around
#5344 of 5563 EX-L 4cylinder w/ Navi Lease
Jul 13, 2013 (5:23 am)
I leased my wife a 2013 EX-L 4 cylinder sedan with navigation last night using the information gained from this forum. I showed the dealership the Weymouth Honda website details for the car and told them to match it. They actually did a little bit better. Just like my previous 2 leasing experience from non-luxury brand dealerships they tried playing some funny business with numbers. I told them I was putting $2000 down and I go sign the paper work and it says I am putting $2500 down at singing. They then said they were giving me $500 flex cash. It didn't say this anywhere on the contract so I made them write it in and initialize it. Bottom line is I put $2K down any payments are $299.07 a month for 36 months in Virginia where the tax is 4%. As a side note the Virginia sales tax on vehicles went up from 3% to 4% on July 1st. According the salesman the 4% sales tax is only paid on the amount the car depreciates during the lease. This of course wasn't the way they calculated the tax on the buyers order.
Another thing I found interesting is the dealership had Honda summer clearance signs all throughout the dealership. I don't see this on Honda's website anywhere. They said the signs are up a little bit early. Makes me wonder if the offers are going to change next week? The current offers on Honda's website are said to last till Sept 2nd. Would Honda change the offers in the middle of a current incentive period? Anyone have any insight into this?
Here are the details of my lease:
Agreed upon value of the vehicle: $27050 (according to the honda contract)
$499 processing fee (listed on separate buyers order)
$1079 sales tax (listed on separate buyers order)
$42.75 tags and title (listed on separate buyers order)
This adds together to $28672.02
$2200 cap cost reduction ($2500 down - $500 flex cash + $299.07 first month payment)
Residual value: $16931.75
rent charge: $1173
According to the Honda contract the gross capitalized cost is $28725.27
This of course doesn't match gross capitalized cost I calculated from their individual items listed on the separate buyers order. It is pretty aggravating that their numbers don't match up between the Honda contract (no breakout of the taxes and fees on the Honda contract) and the separate buyers order. It seems like the dealer just pulls numbers out of the air for the Honda contract to make the monthly payment workout. Oh well. As long as they don't call me in to sign a modified contract I am happy with the deal I got.
#5345 of 5563 Re: ACCORD EX-L lease rates [gpb59]
Jul 15, 2013 (2:10 pm)
Hi gpb59. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2013 Accord Sedan EX-L 4-cylinder with 12,000 miles per year are .00075 and 59% for consumers who qualify for its top credit tier.
The numbers for an otherwise identical lease of a Sedan EX-L V6 are .00075 and 56%.
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