Deal check: 2020 Honda Accord Sport 2.0

This is my second time leasing from the same dealer. I had no idea about LH until I neared the end of my current lease so go easy on me.

My current lease 2017 Honda Accord sport SE currently sits at 37,529. It is currently 7,529 miles over the 10k/yr.

The dealer has agreed to pardon 50% of the excessive mileage which is roughly $664.

The other half I was told could be rolled into my next payment or paid upfront. I’m choosing to roll it in.

Vroom quote: $15000
Payoff Amount:$15930.33

So here’s my current lease offer that I would like evaluated.

2020 Honda Accord Sport 2.0 LEASE

Location: Long Island, NY
Annual mileage 12k/36
MSRP: $32315
Discount: -$2500 off msrp
Excessive mileage rollover +$665
Adjusted price: $30480
Taxes+fees = $2240
Mf: .00049
Residual: .55

Lease Payments Estimated:

Taxes/Fees ($2240) paid upfront - $350
Taxes/Fees ($2240) rolled into payment $412

Please advise… a total noob on this.

Stop and put down your pencil. What is the current value of your car (vroom, carvana, …) and what is your current payoff? Now that you know about this site you have no excuse!!

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Vroom quote: $15000
Payoff Amount:$15930.33

Try carvana as well but be advised the dealer is not eating/giving you credit for anything.

I would keep your current car out of the deal, push for 10% off before incentives and base mf.

What incentives do you qualify for.


Alright to put it in perspective I leased a 2019 Accord Sport 2.0T back December 2019.

I traded in a 2017 Accord LX which i was 12k miles over the 36k limit. I had $1,500 negative equity in which I rolled over. My payment was $398 with zero due. Keep in mind this California. I’m sure you can do slightly better. A tiny more wiggle room.

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Is that your payoff or a dealer payoff?

My pay off.

Your payoff will most likely include sales tax, which Carvana will not have to pay. So the dealer payoff could be a thousand or so less then your payoff, which will actually put you into positive equity on the vehicle. Not 100% sure how this works in NY but I believe it to be true.

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No they’re not. Honda Financial holds your lease, not the dealer. They are buying your car for $664 below the payoff.

Get trade in quotes from other dealers and online sources before making a decision.

Also the selling price of the new lease is garbage. Aim for 28,5 or less.


I got another $350 taken off the total taxes fees amount of 2240 to now $1890 which rolled in now makes my payment $404/mo 12k/36

Lease a 2020 TLX and save yourself money!

You should also check Vroom, ALgo and Rodo. ALgo offered me double Carvana

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So roughly the same as my $44knAudi A4 or the $49k Volvo V60 I was just quoted on:


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What car and what did they offer? They were all within $5k of each other on my tundra (39-44k)

I list it all out here:

Agree with chrishs2000.

According to Manheim Market Report, based on the year, model, trim, mileage, location (Northeast) and assuming the condition of your car is very good (4/5), your car has an adjusted wholesale market value of ~$17,650. (Note: Dealers look to get cars at MMR (and below), in order to sell at retail. Your car would retail for > $20,300).

Looking at cars recently sold at Manheim auctions in the North East in the past 30 days with similar mileage and a 4/5 condition, dealers bought similar cars for ~$18,000.

So having said the above and given your payoff amount is $15,930.33 to HFS (Honda Financial Services is the leasing company), as Chris mentioned the dealer is effectively paying you $664 less than your payoff quote. The dealer has to pay HFS $15,930. So, by effectively purchasing your car for ~$15,300 the dealer is getting your car for close to $2,500 less than at Manheim auction.

The “sales and negotiation pitch” to you is that the dealer is rolling only half your excess miles into your new lease and paying you $300 more than Vroom, which sounds reasonable and is more for optics: i.e. a deal that looks good.

Continue shopping and see what Carvana, Carmax and other dealers have to offer and give yourself more options.

Unfortunately, I don’t have more insights on the 2020 Accord Lease and hopefully other forum members can chime in.

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Or go even smaller. How about a Sentra!