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Looking for a good lease cost for 2020 Accord Sports 2.0t and dealership (contact and location) around Van Wert Area, thanks
 

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Did you try calling dealerships in that area to get lease quotes?
 

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Welcome!

I haven't read all of the extensive replies to your question, but have you tried calling dealerships in your area to get lease quotes?
 

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DIY solutions! Congrats!
 

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I'm a former car sales guy. Lease costs are negotiable, although many buyers either don't know that or can't negotiate. You want to know the "Adjusted Capitalized Cost" (which includes fees) which is the total value of the car + fees at the beginning of the lease. You also want to know the "residual value," how much the car will be worth at the end of the lease. The difference between Capitalized cost at the beginning minus residual value at the end is the amount you will pay over 36 months. Bring a calculator, it's simple math. Also be aware that prices for options can be easily inflated in a lease. I quit my job at a Mercedes-Volvo dealer when I got chewed out for not doubling the cost of an option, i.e. customer wanted a CD player that had a price of $400. Okay, $400 divided by 36 months = an additional $11.11 per month. The GM said I could have doubled it to $800 and the customer "would never have known." Here's an example:
Dealer's Adjusted Capitalized cost is $30,000. The residual value is $18,000. So your lease will cost you $12,000, divided by 36 months = $333.33 lease payment per month. You want options, ask them the price "from the option book." OP, feel free to PM me if you need some assist.
 

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Discussion Starter #7
Thanks for your help (@ Slimm1469). good information. I am interested in the national (lowest) lease monthly cost. I am getting a couple of quotes for $390 range for 2020 Accord Sports 2.0 t. MSRP at: $ 32200 to 32500 range, gives a residual of $ 18150 (approx.). I think I have seen lower monthly cost online. and trying to see what should be the right or fair price. I am based in NW Ohio/Indiana area. Not sure it is easier to buy in Ohio or Indiana.
 

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...
Bring a calculator, it's simple math.
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This is it. Do you own math to verify their numbers. It will take you no more than 10 minutes of uninterrupted attention to figure it all out. It should really add up down to the last penny. Do not be intimidated by complicated looking computer screens; the math in the background is very simple and you do not need anything more than a basic calculator. Car sales is not rocket science. Ask them to walk you through the calculations with a blank sheet of paper and pencil. If you are anything less than 100% satisfied, if there is even one step of calculation that does not make complete sense, you are being shafted. Trust your instincts.

This is the msrp of the new car
This is the estimated value of used car you will be returning x months later
The difference is what you owe

Look for arbitrary fees such as doc prep
Check the contract if you will be charged anything when you return the car
Learn what gap coverage is, decide for yourself if it is something you need
 

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Discussion Starter #9
Is there any good dealership/agent in NW Ohio or NE Indiana? Any recommendations?
 

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Why are you wanting to lease a car that you can buy and resale in 3 years if you are ready to move to another? I agree with what Dave Ramsey calls a lease. He calls it a fleece. Dealers wouldn't offer them if it wasn't a way to make even more on the cars.
 

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Why are you wanting to lease a car that you can buy and resale in 3 years if you are ready to move to another? I agree with what Dave Ramsey calls a lease. He calls it a fleece. Dealers wouldn't offer them if it wasn't a way to make even more on the cars.
We don't know the OP's reasoning- if he wanted to share that info he probably would have. As stated on this forum and by every single financially literate person in the world, leasing only makes sense for a small percentage of shoppers. But for those small percentage of shoppers, it is a better way to go than to purchase. Business owners use leasing as a tax write off; high end real estate agents in NYC need to drive clients around in the latest new vehicle; a cousin's medical practice that requires him to have an AWD car "less than 3 years old", etc...

But yeah, most people who lease cars should just buy a 5 year old Honda instead.
 

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So I get on here and talk common sense and get chastised, but I read responses to people everyday who out and out trash people and nothing is said.
 

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So I get on here and talk common sense and get chastised, but I read responses to people everyday who out and out trash people and nothing is said.
Did you major in drama?
 

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Yes.

You are speaking for Dave Ramsey but have no idea why the OP wants to lease. You also assumed that he could "buy and resell in three years". Maybe he can't do that. Maybe he doesn't want to do that. As an example, maybe he is dying of gonorrhea, and will be dead in three years. Maybe he hates his children too. Maybe he does not want to pass a three year old Accord to his children. Maybe he does not know how to create a will.

I did not "chastise" you, I simply pointed out that for a very small group of people, leasing makes sense. Dying of gonorrhea may be a good reason to lease. If you read what I wrote, I agreed with you (Dave Ramsey).

"Seek to understand, then to be understood." - Stephen Covey, The 7 Habits of Highly Effective People

We should have a Suze Orman/Dave Ramsey death match here....Thunderdome at Bartertown.
 

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Maybe you don't know the difference between speaking for someone and quoting their idea. But you go ahead and answer for others and tell me how smart you are by using quotes from others
 

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If you're constantly jumping in and out new vehicles, you'll get burned nearly every time by buying instead of leasing.
As Rick stated we don't know what the OP's situation is, and the reason I stated is just one scenario, among others.
The nice polite term for owning a car is a "depreciating asset." The resale value in two to three years, will never catch up to what you pay in the first two to three years in depreciation.
Cars are tools...not investments.
And if you're going to brag about what you got for a discount the day you bought it... "Yeah, but I bought my Touring for $6,000 off sticker!"...Well guess what?...that directly affects the used car market the day you trade it in...it's all relative.
If you're not holding on to your car for 5-6 years, or longer, a lease can be the best option. and when it's time to put new tires on the car, in 36K to 45K miles(and the BTB warranty has already expired)..you turn in the keys, and go your own way. The good thing about leasing Hondas is their residual values are often very good, so their leasing costs are typically lower.

Either that or buy a gently used vehicle...that way, the biggest depreciation has already been paid, by someone else.
 

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I sure am glad you financial wizards are taking the time to school me on car math. Let's see, I can listen to you or listen to a man who is worth millions because he knows how to take care of his money. Yeah, I choose you two.
 

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I sure am glad you financial wizards are taking the time to school me on car math. Let's see, I can listen to you or listen to a man who is worth millions because he knows how to take care of his money. Yeah, I choose you two.
Thanks...we love you too,
 

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I sure am glad you financial wizards are taking the time to school me on car math. Let's see, I can listen to you or listen to a man who is worth millions because he knows how to take care of his money. Yeah, I choose you two.
Maybe you don't know the difference between speaking for someone and quoting their idea. But you go ahead and answer for others and tell me how smart you are by using quotes from others
Do you write dramas for the TV? How about writing an episode of Law and Order where Dave Ramsey listens to you and then goes bankrupt and gets gonorrhea?

Your misinterpretation is fascinating. So Dave Ramsey (through you, lol) is now stating that businesses should buy a depreciating asset rather than expense 100% of the lease cost over a three year period? Truly amazing.
 
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