Last post on Dec 09, 2013 at 5:17 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Car Leasing, Coupe, Sedan
#5359 of 5565 Re: 2013 Honda Accord EX Lease Quote [dandydan9]
Jul 21, 2013 (10:20 pm)
Dandy - I guess he could bet that he will total the car during his lease term but look at it this way - if he really does drive that many miles, he only pays about 8 cents a mile if it's cooked into the lease in advance and 15 or 20 cents a mile if not and he ends up 36,000 miles over at lease end resulting in up to $7200 mileage penalty. If he cooks those miles into the lease, he pays about $2880. If he actually drives those miles and the car is totaled or stolen, he really hasn't lost anything - he's just paid for his actual use of the vehicle. Now if he pays for those miles and doesn't use them - that's different - but even in that case, he will have a reduced residual and might realize some equity on a trade or private sale.
#5360 of 5565 Re: 2013 Honda Accord EX Lease Quote [huskerfan5]
Jul 22, 2013 (7:33 am)
thanks for the reply...waiting for the dealer to get more details.
#5361 of 5565 Re: 2013 Honda Accord EX Lease Quote [mnz1999]
Jul 22, 2013 (7:45 am)
this is exactly i had in my mind. Yes I do drive 24K miles a yea... I could have bought the car I guess around 23000K plus 8% tax 23840 OTD and at the 1.9% interest rate for 60 months the payment would have been $435 (rough numbers). another scenario if the OTD price would be $24000 payment = $419 vs lease $375 (only 35 payments). But i am not planning on keeping the car for more than 3 years even if i had bought it so with high mileage that i drive the next dealer would defiantly ding me on my trade...that was the thought process behind lease vs buying (not sure how good assumptions i made)
I am waiting for more details from the dealer to share with you guys (this will help future consumer with high mileage lease).
thanks for your input so far
#5362 of 5565 Re: 2013 ACCORD EXL [km38ia]
Jul 22, 2013 (8:10 am)
What state are you in and what dealership?
#5363 of 5565 Re: 2013 Honda Accord EX Lease Quote [huskerfan5]
Jul 22, 2013 (11:26 am)
here is the info
36 months 24K miles/year
Sale Price: $23,524
Residual Value $12,231 (47%)
Bank Fee: $595
Doc fee: $75
Monthly Payment of $375 (only 35 payments coming out of my pocket. sign and drive. first payment and everything else rolled into the payment).
if i am reading it right...Weymouth Honda's website quote is $397 (including 8% tax and zero due at signing.
what do you think?
#5364 of 5565 Re: 2013 Honda Accord EX Lease Quote [mnz1999]
Jul 22, 2013 (12:16 pm)
I'm sure huskerfan will chime in but in my opinion, to be able to drive an EX for 3 years and 72000 miles for around 18 cents a mile sounds like a sound decision on your part - especially given the perks Honda allows on lease turn in.
#5365 of 5565 Re: 2013 ACCORD EXL [camokatu]
Jul 22, 2013 (10:50 pm)
I'm in southern Cali
Kendra was my dealer
#5366 of 5565 Re: 2013 Honda Accord EX Lease Quote [mnz1999]
Jul 23, 2013 (6:53 am)
Assume you have also looked through the Prices Paid forum but if you are comfortable that the sales price is competitive for dealers in your area, go for it.
#5367 of 5565 Current Honda Incentives
Jul 24, 2013 (9:52 am)
CarMan (or those who are in the know)... I notice that Honda's current incentives are dated thru 9/3/13.. do you think then they are all in with their 2013 model clearance closeout incentives OR could their be something in August.... looking to time an end of month deal...
#5368 of 5565 Feedback on Lease Quote
Jul 24, 2013 (11:21 am)
I've been reading this forum for awhile, but have finally reached the need to post. I'm shopping for my first car and want some feedback and where I might further negotiate as well as other questions to ask (or things to try and get included) about the best deal I've been quoted so far on a 12K, 36 month lease for a 2013 Accord LX. Details are as follows:
1) Capitalized Cost: $21,033.30
2) Cap-cost reduction: $0
3) Money Factor: 0.00075
4) Residual Value: $13,729.30
5) Total due at signing $0
6) Monthly lease payment including Local County tax: $228