Last post on Dec 05, 2013 at 7:18 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Car Leasing, Coupe, Sedan
#5544 of 5553 Accord Lease Guidance
Dec 03, 2013 (11:21 am)
I have been reading and learning, but need a little guidance...
Dealer is offering the following…
2014 Accord Sport (located in mid-Missouri)
LEV RT / AMT 58%, 14,676
Capped Feeds 694
Adj. Cap, 23,194
Upfront fees (not sure what this is) 112.50
Amt. Due at start 372.95
Pymnt 260.45 (tax not included)
Any thoughts would be much appreciated!
#5545 of 5553 Re: Accord Lease Guidance [orthopraxis]
Dec 03, 2013 (1:41 pm)
Selling price is not too bad at 700 below invoice. Residual and money factor ok. All in all not a killer deal but not that bad. Have you tried multiple dealers to get some competition going? Do any dealers have the 500 flex cash left? Would lower your payment to around 245 plus tax.
#5546 of 5553 Re: Accord Lease Guidance [gmanusmc]
Dec 03, 2013 (2:23 pm)
thanks for the feedback.
I have tried, but have not pushed too hard. There are two dealers within 30mins, then its another 2hrs to quite a few. I feel somewhat restricted...
The dealer who gave the quote I listed in my first message adamantly refused to do anything further on the price. I told him that I felt they could reduce the selling price further, but they balked.
I sent the numbers to the other dealer and he said, sure we can beat it, but has not come back with new data.
I do have a 2011 Accord LX-P that will be coming off a 3yr lease with 32k with an approx. 14.2k buyout. That car is in perfect condition. I did not include that in any discussion of the new deal...not sure if that is correct.
#5547 of 5553 Re: Accord Lease Guidance [orthopraxis]
Dec 03, 2013 (3:46 pm)
Your 2011 is probably worth only 11-12k on trade in so turning it in at lease end is probably your best option. You might be able to get a few hundred more off the selling price working with your two local dealers. Give it a try and see what happens. The deal you have is not that bad so you're probably not going to get much more - that sport model is nice.
#5548 of 5553 Re: Accord Lease Guidance [gmanusmc]
Dec 03, 2013 (7:14 pm)
11-12k for the 11 LX-P seems kind of low, no?
I will give it a little more effort tomorrow morning and see what happens. I would like to get the payment down a bit closer to $250 if possible.
#5549 of 5553 Re: Accord Lease Guidance [orthopraxis]
Dec 03, 2013 (10:02 pm)
I went by kbb excellent condition trade in for an estimate on your car's value - I was kind of surprised it was that low too. But like I said - if need be, you can just turn it in. You might be able to get the payment down about $15 if the dealers have any flex cash available.
Good luck and let us know how it goes.
#5550 of 5553 Re: Accord Lease Guidance [gmanusmc]
Dec 04, 2013 (1:38 pm)
The other dealer came through with an offer of 21.5k selling price, bringing the payment down to 261 tax included.
I think I got a pretty good deal.
#5551 of 5553 Re: Accord Lease Guidance [orthopraxis]
Dec 04, 2013 (2:02 pm)
Oh yeah - that's much better than the other deal. They must've had some flex cash. Way to hang in there!
Congrats and enjoy the new Accord - that sport is a beautiful car!
Dec 05, 2013 (1:24 pm)
If you are a parent of young children (at least one under 12 years old) who owns a 2013-14 Honda Accord, a reporter would like for you to fill out a survey, due by December 13, 2013, for use in a print publication. Please email PRedmunds.com no later than Wednesday, December 11, for a copy of the survey.
#5553 of 5553 Re: End of Year 2013 Accord LX CVT [gmanusmc]
Dec 05, 2013 (7:18 pm)
Thanks for the clarification because I definitely try not to write down anything I am not sure of, or at least preface it by stating that. I actually think I wrote the word residual somewhere on the board when I meant the word purchase. The amount is close to what it would cost to purchase the car at lease-end and I associated it with that. Your definition of residual makes it easy to understand.
Isn't there something in small print in the lease advertisements that states what it would cost to purchase the car at lease-end? (Maybe what I meant by payoff) Is that amount lower if your down payment is higher?