- #96 of 2742
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LX lease question
by rkramb
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Nov 21, 2005 (9:58 am)
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I see on Honda's website that they are currently offering a lease for the LX Special Edition ($239/month for 42 months w/ $1999 due at signing). What would a similar lease be for an LX with no SE. Would the ~$700 difference in price make much of a difference, or would the special deal on the SE almost make up for the price difference?
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- #97 of 2742
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Info Request
by gidoc
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Nov 22, 2005 (7:46 pm)
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CarMan,
Hoping for money factor and residual value for 36 mo, 12 k per year on Accord EX V6.
Also, any insight into whether current lease incentives will cont into December?
Thanks in advance.
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- #98 of 2742
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LX SE Lease Question
by bridonohue
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Nov 22, 2005 (8:41 pm)
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I am considering leasing the LX SE. I have been quoted a buy price of 18,550 + the usual charges and 5% MD sales tax. There is plenty of competition here in the DC area. What should I be expecting to pay monthly if i want to put nothing down for 36 months? 42 months? Would I get a lower rate if I asked for 10K a year instaed of 12K. Historically are these good rates that Honda is offering right now?
Sorry for all the questions, and thanks in advance for any help offered. I am looking to get a car by Monday.
Thanks again.
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- #99 of 2742
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Re: lease Accord or Civic [jmax1]
by Car_man HOST
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Nov 23, 2005 (4:16 am)
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Replying to: jmax1 (Nov 09, 2005 2:01 pm)
Hi jmax1. You would be better off having the dealer that you are working with cut you a check for any equity that you have in your trade than using the proceeds from it as a down payment on a lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your leased Honda would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all.
Honda's lease program is much more attractive on the 2006 Accord right now than it is on the 2006 Civic. As a result, the Accord is the better value, but the Civic might actually have a lower lease payment because it is a less expensive vehicle, price-wise.
Car_man
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- #100 of 2742
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Re: Factory lease incentive..Can it be improved? [rabbit2]
by Car_man HOST
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Nov 23, 2005 (4:19 am)
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Replying to: rabbit2 (Nov 09, 2005 4:57 pm)
Greetings rabbit2. Most manufacturer advertised lease payments leave a little meat on the bone, so to speak. If you are n an area where there is a decent level of competition for your business, I would not be surprised if you were able to negotiate a lower selling price than the one that this lease is based upon. Naturally, a lower selling price will result in a lower lease payment. For more specific feedback on how much you should expect to pay for this car right now, stop by the following discussion: "Honda Accord: Prices Paid & Buying Experience".
Car_man
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- #101 of 2742
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Re: Leasing 2006 EX Sedan 4 Cyl [somtam]
by Car_man HOST
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Nov 23, 2005 (5:13 am)
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Replying to: somtam (Nov 13, 2005 5:14 pm)
Hi somtam. You can figure out what the lease payment should be on a vehicle, given its selling price, but you need a little more information to do so. In addition to the selling price, you need the full MSRP, lease money factor and residual value. I can give you the latter two numbers. If you were to lease a 2006 Honda Accord EX 4-cylinder sedan through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00192 and 59%, respectively. Now all you need is this car's MSRP. Once you have it, plug all of this information into the formula that is outlined in the following article: Calculate Your Own Lease Payment.
Assuming all of the cars that you are interested in are the same, theoretically the one that has the lowest selling price will be the best deal and have the lowest lease payment.
Car_man
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- #102 of 2742
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Re: Leasing 2006 Accord EX V6 6sp w/NAV & accessories [erlkoenig]
by Car_man HOST
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Nov 23, 2005 (5:19 am)
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Replying to: erlkoenig (Nov 17, 2005 2:54 pm)
Hi erlkoenig. I can tell you exactly what your lease payment on this car should be like and I would be more than happy to do so, but I need you to tell me its full MSRP (including the destination charge) first. For now, I can tell you that you should keep your $2,500 in the bank rather than using it as a down payment on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Accord would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all.
For feedback on how good the price that you were quoted for this car is, stop by the following discussion: "Honda Accord: Prices Paid & Buying Experience".
Car_man
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- #103 of 2742
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Re: Good lease payment? [wayde]
by Car_man HOST
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Nov 23, 2005 (5:21 am)
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Replying to: wayde (Nov 18, 2005 8:44 am)
You need to find out the selling price, wayde. Not only do you not know what sort of a discount you are being given on this car without it, but it is difficult to tell what its lease payment should even be. The fact that sales tax is included in the payment that you mentioned makes it even more difficult for me to evaluate this deal without the selling price.
Car_man
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- #104 of 2742
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Re: Good lease payment? [wayde]
by Car_man HOST
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Nov 23, 2005 (5:23 am)
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Replying to: wayde (Nov 19, 2005 2:28 pm)
Hey wayde. Yes the lease money factor that you were quoted to lease this car is correct. Honda Finance's buy rate factor for it is currently .00192 and if you are having your car's security deposit waived it would increase to .00200.
Car_man
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- #105 of 2742
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Re: LX lease question [rkramb]
by Car_man HOST
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Nov 23, 2005 (5:25 am)
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Replying to: rkramb (Nov 21, 2005 9:58 am)
I can tell you exactly what the lease payment should be like on the car that you are considering, rkramb. I just need you to tell me its full MSRP and selling price.
Car_man
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