2018 Honda Accord 2.0T 6MT First-Time lease

Ask the Hackrs
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1

Good Morning,

I’ve been lurking for a few weeks now learning about leasing. It’s going to be my first lease and I need guidance if I am doing this right. I just received the information from the internet sales agent for a 2018 Accord 2.0T 6MT. (The only 1 6MT 2018 left in my area) Quoting it below:

MSRP: $31,230
**Dealer Discount: ($5,336)
Sales Price: $25,894 [Selling price should be $26,794, we are extending an add’l $900 for leasing]
RV: 53% ($16,551.90)
MF: .00033
Acq Fee: $595
Doc Fee: $499 + Title Fee = $29.25

I asked for only first month DAS. He didn’t include the monthly payment but when I plug in the numbers in the calculator it shows $314 with tax. I guess 17% off msrp is a very good deal. What should be my next step? I don’t have insurance set up yet and its the weekend. Please advise.

Thank you

1 Like
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That’s a great deal for a manual Accord. Sign.

3

Where did they get that money factor? Is it really .00033 for a 2.0T sport?

Just checked and it is in fact still .00033 for the 2018s.

This is a great deal.

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Yes. I thought it was .00072 at first too, had to check it again and it was in fact .00033.

I forgot to mention that this will also be a first car transaction under my name. I want to sign today, but I don’t have an insurance prepared and it’s the weekend. How can I go around it, or do I need to wait for Monday? Thanks for the help!

I am still waiting for the confirmation of DAS and monthly payment. I hope $314 is right.

Edit: Monthly came in $329.36 with DAS $329.36. Just got the reply.

1 Like
5

Just call the insurance company or go online to geico/progressive or whatever and sign up for insurance.

6

Why did it go up almost 600? Any explanation?

7

I am asking for the worksheet so we can review it.

Can I PM you for some questions?

Thanks Stinger

8

Why not ask the questions here so everyone can benefit?

1 Like
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Looks like a great deal. I get the same numbers as you: $314/month with $958 in drive-offs, which is about $329/month with $329 DAS.

10

I get the $314 too. I’m trying to figure out in the calculator on how to get that $329/mo with $329 DAS. What am I missing?

For the insurance questions, I want to bundle it with my current home insurance but its Saturday. If I get one thru Geico/Progressive via online today, how soon can I switch and can anyone tell me what the penalties are? Pretty new with insurances.

I appreciate it. Really looking forward onto signing this deal today.

11

You can do a down payment of negative $595 on the calculator as a workaround. The dealer is likely applying a rebate towards the drive-off, but this amounts to about the same. The calculator is helpful for estimating, but it may be a few dollars or cents off.

As for insurance, best to call a few providers, and ask if you can cancel after a month, and whether they will prorate. Usually, insurance isn’t effective until the following day, so you may have to take delivery tomorrow (Sunday).

12

Thank you.
Will keep you guys updated. I am good with the deal, just sorting out my insurance.

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Waiting on my insurance. Here’s what they sent me. Everything looks good and ready.

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Edit: I just noticed they put 12K miles. I inquired for 10. Worth it to drop to 10k?

14

Honda doesn’t do 10K/year leases.

15

That’s an insane deal. About $2k below a ‘great’ selling price. Stop asking questions and sign it :rofl:

Also, I’m 99% sure you’ll have positive equity at the end of term. Finance or lease, you can’t go wrong.

And get the sport grille, the mustache delete is a must :smile:

1 Like
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Sure, PM away.

17

They do in NYC. But I don’t think Op is in nyc.

1 Like
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Thanks for letting me know!! :slight_smile:

I have an appointment to sign at 6PM PST. Will keep you guys posted! Thanks for all the help!

19

Steal of a deal for that car.

20

I’ve had mine for 6 weeks, really fun with the manual. I worried about lease support ending so I pulled the trigger…and the incentive went from 900 to 1900 the next month, sad face.