2020 Honda Accord LX 1.5T - help appreciated!

Ask the Hackrs
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1

Hi,

This would be my first time leasing a vehicle so I would like to run the number through LH before I go meet the dealers.

I have contacted several dealers, yet I am not too sure about the best deal I have received via email.

Please see below for the numbers:

2020 Honda Accrod LX 1.5T ($0 down and $0 drive-off)
MSRP: $24,800
Sales Price: $21,318 (13.8% off)
Month: 36
Annual Mileage: 12,000
Residual: 58% ($14,384)
Money Factor: 0.00127
Sales Tax: 6.25%

I have put 0 for any incentives or rebates as I could not find any that I am eligible for.

The best deal I have received so far is $288 monthly.

I would really appreciate any help on how to get a better deal and where might be the best area to negotiate (go for a lower sales price? or etc.).

I came across an ad saying $0 down with $199 monthly payment, but I guess that is more like a bait with all the possible incentives considered.

Thank you for your help in advance.

2

I am paying $307/month for a 2020 Acura TLX, 36 months/12k with zero money due at signing. IMO- worth the extra +$19/month vs. the $288 you listed above, especially for a $34k car. Take some time to read through these forums, they will help you enormously!

Good luck with your decision!

3

Did you check Edmunds forums?

5

Thank you!
I will consider that if I cannot get a far better deal than what I have now.

6

$288 for a base honda accord? You can do a ton better, $288 is a complete ripoff!!

7

If you’re considering other cars maybe consider something more modern than a TLX

1 Like
8

Hi,

Yes, it seemed the military appreciation and recent graduate were the only available incentives when I checked Edmunds forum.

9

OK!

Thanks for the tip.

10

Yeah I thought so.

Since the MSRP is $24,800, I guess anything above $248 is not a great deal based on my understanding of the 1% deal.

11

The 1% rule is not a useful metric for evaluating lease deals. Forget you’ve ever heard of it and you’ll be better off.

1 Like
12

Thanks for the tip.

Would it be better to use the numbers I got from LH calculator as a great deal then?

13

Depends on if you’re trying to find the best deal on a specific car or the best car for a specific price. If looking at a specific car, the best option is to compare pre-incentive discounts at base mf against other similar deals to figure out how well of a deal you’re getting relative to the market.

14

Search the forum for “how to negotiate”

1 Like
15

Not everyone can have the distinction of driving an Accord! The most logical vehicle on earth.

Edit: I will be somewhat helpful. The $0 down, $199/month will probably has fine-print saying it doesn’t include DMV fees, taxes, acquisition fee, and dealer-added accessories.

16

care to share how you got it? pretty good and quite comparable to what i’m looking for but i’m having trouble … been car shopping for a month now… 3 of those weeks were in person going around dealers with my friend who has experience in the field before and also owned several or more cars… He is trying to get me a deal and says it can happen but no one is budging near it … You’re deal seems very comparable to what i’m looking for it!

17

Here you go:

18

Why on earth would you do that?

3 Likes
19

I am a newbie and that was before I came across this forum. Definitely would be gladly to avoid all that and use a broker if I ever want to just get something.

20

Yes,

monthly $288 includes everything from tax and all the other fees while the $199 on the ad does not include any of that with all the possible loyalties thrown in. I managed to get it down to $278 a month. But, I am not sure if this would be the best deal I can pull off.

21

I am sure you could save another whole $2 a month if you reach out to dealerships in a 500 mile radius.