Went to get a lease quote this weekend.

[detailsim]

Wife and I went to dealer that we leased our current 2010 EX from. The price they came back to us with was ridiculous so we walked out.

I was out running errands this morning and figured I'd stop at another dealer down the road from our place. Here are the figures WITHOUT any negotiating:

2013 EX-L
MSRP 28,745 ( i think)
36 mos lease with 36k miles.
1500 down
Money Factor .00155
Resid 61%

The lease came out to be $319 a month. That price blew away the one we were quoted at the other dealer. Gonna go this week and try to work them a little more. But wife and I should have a new accord this week

[danny_379]

Sounds good!


Sent from my iPhone using AG Free

[namegoeshere]

Originally Posted by danny_379

Sounds good!

No it doesn't. That's a terrible lease deal for an Accord.

For a car I'm going to walk away from after 3 years, I'd rather lease a TL or G37 for the same price.

[cdseven95]

12k miles a year
1500down/36=$42 a month
$42+$319=$360 a month lease.....


On a Accord..

AWD G37s I got prices at $370 w money down factored in..

But I ended up not doing it because of tax purposes (business) I would not lease a car personally .. Especially a Accord at $360..

[UuVeeh]

Here is a tip: Sum up all of your lease payments + your buyout at lease in end(residual) + money down. If its within $1000 of the MSRP, you getting a good deal.

[detailsim]

Originally Posted by UuVeeh

Here is a tip: Sum up all of your lease payments + your buyout at lease in end(residual) + money down. If its within $1000 of the MSRP, you getting a good deal.

If we did this deal as it stands we would be within 1500 of msrp. Will work them some more this week.

Thanks!

[grover432]

Originally Posted by UuVeeh

Here is a tip: Sum up all of your lease payments + your buyout at lease in end(residual) + money down. If its within $1000 of the MSRP, you getting a good deal.

I'm not sure I understand you reasoning. If I buy one outright, I can get a car at invoice plus $500.00. That is quite a bit less than MSRP, but not considering interest on the purchase over 3 years. I think the simplest way to determine if you are getting a good deal is to negotiate on the vehicle as if you are buying it outright and then apply that purchase price to the lease. In Canada, everyone gets the same interest rate for lease. I understand that is different in the US and is driven by your credit rating. Can't do much about the interest rate in either case. In addition the residual is fixed by Honda, so you can't do much about that either. All you can really negotiate is the cap cost of the vehicle for lease purposes.

The only way a more expensive car will cost less is if it has an artificially high residual value or the interets rate is allot lower. But it doesn't get you the car that you want though - if you want an Accord.

[UuVeeh]

Originally Posted by grover432

I'm not sure I understand you reasoning. If I buy one outright, I can get a car at invoice plus $500.00. That is quite a bit less than MSRP, but not considering interest on the purchase over 3 years. I think the simplest way to determine if you are getting a good deal is to negotiate on the vehicle as if you are buying it outright and then apply that purchase price to the lease. In Canada, everyone gets the same interest rate for lease. I understand that is different in the US and is driven by your credit rating. Can't do much about the interest rate in either case. In addition the residual is fixed by Honda, so you can't do much about that either. All you can really negotiate is the cap cost of the vehicle for lease purposes.

The only way a more expensive car will cost less is if it has an artificially high residual value or the interets rate is allot lower. But it doesn't get you the car that you want though - if you want an Accord.

Yeah, that will work too. I am not sure if the dealer will give you same monthly quote after the negotiation.

And my post was based on lease vs buy out, just wanna make sure that you dont get screwed in interest when leasing.

[UuVeeh]

Also, taxes varies from state to state. Some states require you to pay the tax in full up front, based on the final price or the sum of all your monthly lease payments. This way you will have lower monthly payments.
In other states, you pay tax on each monthly payment .
Ask the dealer, how is it in your state.

[grover432]

Originally Posted by UuVeeh

Yeah, that will work too. I am not sure if the dealer will give you same monthly quote after the negotiation.

And my post was based on lease vs buy out, just wanna make sure that you dont get screwed in interest when leasing.

If the dealer won't, I'd find another dealer. Why should they care? The only exception is if the factory has a cash purchase rebate to the dealer (or purchaser). that isn't available on a lease.

I've leased 5 cars over the years (Canada) and I've always negotiated in this fashion with success.

[redlineaccord]

I'm paying 85 a month for my 2012 LX-S coupe 5MT. Price seems a little high but not by much. but it all depends where you live and down payments/credit etc..

[mitchflorida]

Originally Posted by detailsim

Wife and I went to dealer that we leased our current 2010 EX from. The price they came back to us with was ridiculous so we walked out.

I was out running errands this morning and figured I'd stop at another dealer down the road from our place. Here are the figures WITHOUT any negotiating:

2013 EX-L
MSRP 28,745 ( i think)
36 mos lease with 36k miles.
1500 down
Money Factor .00155
Resid 61%

The lease came out to be $319 a month. That price blew away the one we were quoted at the other dealer. Gonna go this week and try to work them a little more. But wife and I should have a new accord this week

The best cars out there to get a lease on are the BMWs. You can lease a BMW 3 Series at that price.

[bottlecap]

Originally Posted by mitchflorida

The best cars out there to get a lease on are the BMWs. You can lease a BMW 3 Series at that price.

I think BMW is now pricing their cars for all the leasing they do. One of my coworkers is looking at them and the MSRP for a 3 series seems out of this world now.