Thanks man! From my understanding I’m putting 2500 cash down.
Can you get it under your target, sure, it’s possible. Here are some things to do:
- Get residual and MF from edmunds forum to ensure you’re getting base MF.
- Shop arround and try to negotiate selling price first. You can use the calculator and your numbers sheet to determine what kind of selling price you need to get to your goal (work backwards).
- Check the marketplace - on first glance a broker on here is advertising $1,950 off Sport Touring
- Seperate your Kia transaction. Sell it on your own.
- Try not to put so much down on a lease.
- I’d rather purchase given the residual and how well Honads hold their value
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I agree, it’s good to buy Honda rather lease, unless you have a big incentive to lease.
In addition to your trade?
Thank you guys!
@max_g yes on top of the 2200 current lease equity. In theory that should be about 4700 “down payment”.
So effectively $580 a month for an accord? That didn’t sound like a good deal to me.
Probably better to finance
Just visited another dealership and this is the offer:
2023 Touring Hybrid
3000k total out of pocket
389/month
36months/12kmiles
Sales manager claims he’s trying to move this last ‘23 off the lot. He said the deal stands until tomorrow.
Seems good to me! Thoughts???
$3K out of pocket plus trade in?
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Did you see this?
Edit: different state YMMV.
Is this offer without the trade in???
Last time i was at the delaership to get my car serviced they offered me a buyout which i refused but they still threw some numbers out for the hybrid touring lease. And this was a few months ago…wanted $3500 out of pocket and $600 a month, 10k miles… I said yes what a great deal paying $700 a month for an Accord!!!
If they are offering you 3k out and $389 per month without a trade in i would jump on that deal!!!
Any premium hybrid under $500 a month in this market is a deal.
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How are you benefiting from a cycle where you spend ~$19k every 3 years?
Repeat that again and that’s ~$38k spent over 72 months with nothing to show for it.
Don’t see how you’re getting $2,200 in trade equity. According to your posted dealer worksheet, equity in trade reflects $0 even though ACV of the trade shows $21,000 and the lease payoff is $18,717; a difference of $2,283. It also shows that the trade allowance is $18,717 which equals the lease payoff. So, it seems to me that they’re not allowing you any trade equity.
All the numbers check out except I would want a detailed itemization of inception fees which likely includes the acq. Fee, doc fee, license/registration fees, and taxes.
I think you’re allowing the dealer to control the deal. I would get all the data from the dealer’s itemized lease worksheet which should be vetted from Edmunds and other sources. Data should include all rebates/incentives, money factor buy rate, residual factor, acquisition fee, etc. Research the sell price. Once you have all the data, create a one-page lease proposal like the one linked below.
Sample Lease Proposal.pdf (341.0 KB)
The $138.18 is capped in the lease.
I know you want an Accord - but people here have posted Audi Q4 etrons for 500 all in per month on a lease. If you are wanting to buy right away, great.
But from a leasing perspective, I have seen these german and some american (Jeep 4xe) brands lease way way better than Hondas and Toyotas on here.
What does that mean?
It means capitalized (i.e., financed in the lease) .
Below is the payment calculation.
Sell price = 35,265.28
Cash deficiency = 138.18
Gross cap = 35,403.46
Cap reduction = 500
Adj. Cap = 34,903.46 (Note: looks like the dealer’s worksheet app can’t subtract correctly)
payment = MF x (adj. cap + Residual) + (adj. cap - residual) / term
= 0.00187 x (34,903.46 + 22,611.30) + (34,903.46 - 22,611.30) / 36
= 449.00
There is no evidence that OP’s equity is being applied in the posted lease worksheet unless it’s buried in the dealer 's 9.5% discount which, I doubt. If it is, it shouldn’t be as that needs to be itemized separately as a capitalized cost reduction. Furthermore, it would make a lousy lease and even lousier lease. The worksheet is sloppy and leaves much to be desired.
Edit: OP’s instead of your. Also, what was a 9.5% dealer discount would be a putrid 3.7% discount.
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Wow thank you all for your input! Really appreciate it. Needless to say I did not go through with that deal. I’ll continue shopping around.
EX and above trim levels are all hybrid now.
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I knew Honda had changed the trim structuring to make the hybrid a bigger part of the lineup, but I don’t follow them that closely. 
Thanks.
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Is there anything in this segment with good lease programs?