On the market for a new 2021 accord 2.0 lease. I emailed the dealer for their current accord 2.0 lease payments. They can’t be serious right. What numbers are they even using to get over $700 a month.
What’s the question?? Definitely go with the one pay option !!!
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On a serious note, go check the marketplace. Stop emailing/contacting a dealer.
$2k over msrp plus dealer add ons plus TX tax will do that.
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This is not even a touring 2.0.
Now that is absolutely insanely ridiculously frightening!!!
At this point dealerships are literally just throwing odd numbers that make zero sense because they know someone will actually pay that amount…, they will give you any number, and even if they work with you and bring it down to $589 a month and you refuse it, which you would have be a fool to accept, that eventually they will play this game long enough that someone will pay over $600 a month for a honda 2.0!!! They will actually believe it’s a deal because they knocked off $137 bucks a month off the monthly payment.
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True … it’s very sad
Agreed - I never have seen such an exorbitant price on a Honda lease ever!
I guess the old saying “a sucker born every minute”…
If you are that desperate to get a Honda at price, then one must not care about their money…
Geesh, my $35,000 Honda Clarity is up for lease maturity and I pay $285 a month. Going to keep her for sure - buying her out thru my CU next month.
If I really wanted to lease a Honda Accord, I would do a lease takeover!
I’m desperately hoping consumers get smart over the next few months and start educating themselves about what is going on in the auto leasing industry, but you will never get everyone to have a financially stable mind to understand what is actually happening overall. I never thought I would be extending my lease and then buying it out, but yes that’s what im doing instead of literally paying thousands and thousands more for a new lease. Good to hear you are buying out your lease and holding on to it. It’s actually the most financial savvy thing you can do right now. Like I mentioned Eventually the tide will turn back into the consumers favor. Could be a while from now but it will happen.
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Honda doesn’t do lease transfers, so this wouldn’t be an option.
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Tell them you’d rather walk than drive an accord for that payment
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I’m paying less for my 70K 540i I got earlier this year. This is a pretty bad deal, forget this dealer and check the marketplace.
What was their response when you asked them?
They did not say. I acutely talked to the finance manager and was told they’ll try to negotiate price. I know I still will not get under $400 without a big down payment , which i won’t be doing.
You are not going to get anywhere by payment shopping without understanding the underlying numbers.
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Still new to leasing, what do you mean by I will not get anywhere by payment shopping. What numbers should I be looking out for?
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (https://www.youtube.com/watch?v=jjgvLxqcLfA) to brush up on how to most efficiently use the resources here.
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
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In addition, you want to pick the right candidate to put all that effort into.
Most cars do not lease well. They do not have the programs (RV, MF and incentives) to be good candidates for lease-hacking, regardless of what dealer discount you can negotiate. This is truer now than it has ever been. Which means you cannot start your search with a particular car or cars in mind, and then find a way to make them lease well.
It will be like pushing a boulder uphill while pulling teeth, and you’ll still probably have a bad deal in the end. You need to start your search by filtering only the vehicles that are leasing well right now and offer good value per dollar.
Check out the “Share a Deal” and “Marketplace” sections of LH forums to decide what’s leasing well and pick a vehicle that is already proven to offer good value.
Remember, there are no magic wands that can save a deal from poor programs (RV, MF, and incentives)
Couple additional things.
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There is some complex info on here. I would spend an hour or two reading here before signing a lease. But, at the most basic level, you need to find someone willing to sell you the car at no more than MSRP. The 6% market adjustment (and added tint) is almost always going to make lease numbers really ugly.
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I also live in a state that taxes leases based on selling price. In Texas, if you can’t get dealer to kick in tax credits on a Texas lease it can change the math on buying versus leasing, especially for a car with a residual around 60% like the 2.0 Sport.
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As @max_g said, some cars just don’t lease well. Wife and I wanted an Accord (34k MSRP) in 2018. I just couldn’t get to lease numbers I could stomach. It was way more than I wanted to pay for an Accord and more than I thought the car would depreciate in three years. So we financed it. Even before current situation, two years post purchase in 10/2020, Carvana’s offer resulted in effective payments of $250 a month. With the current crisis, we sold last month and ended up paying $2500 for 34 months and 21k miles of use. Obviously we took a gamble and came out ahead since I took on risk/benefit instead of leasing company. Of course everyone’s situation/risk tolerance is different.
This right here, if you live in Texas i wouldn’t bother leasing unless there’s tax credits.
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