See Dealer Lease worksheet. This about $40 lower than any other dealers so want to scrutinize.
Can I get your input hackers? Thank you
Hard to read - here are details:
MSRP - 27,110
Sale Price - 22,394.95 (includes 750 pre tax incentive)
RV - 57%
MF - .00103
Doc Fee - 300
Tag & Title - 279
License Fee - 135
Acquisition - 595
Payment - 267.44
1st payment only DAS
Here is the Calculator as well - not matching:
Isnt there a 750 rebate? Is that included in the selling price and any loyalty?
Yes - I am told it is pre tax, so all the numbers I have been getting include that rebate. I can clean up the calculator by adding the 750 to the price and moving it to un-taxed incentive… I think.
For loyalty, I heard that is no longer available in our region (Marlyand). It was an additional 750 in July. I am in an Acura, and I also heard it is only for Honda. Would love clarification here.
I will try that.
EDIT: Yeah, I did that for clarity. It is not matching still. These guys have been relatively shady from the get go so I want to be very careful.
Dealer just texted me as well.
“Look at -$2,150 below - this is how much I am losing to give you this deal.”
How generous of him
The MF looks high for a sport, did you confirm that it’s base?
Edmunds forum indicates MF is .00130 for a sport. Dealer worksheet showing .00103. Is it possible dealer is manually adjusting MF just to get me into the show room?
I hope that answered your question. If not, can you advise on how to confirm that the MF is base?
What about tax? You still have to add that and, being in MD, that’s tax on the full vehicle value.
No, they can’t change MF down. Only up.
Taxes on the full selling price are listed there and rolled into the cap cost. 1361.70
Did I miss something?
on the MF - You know I just think that Edmunds guys fat fingered it and swapped the 3 and 0 and wrote .00130 instead of .00103. I checked with another dealer quote and MF was .00103.
Hey there! I’m a former sales and finance manager at a Honda dealership, and I still have connections at the dealership. Honda has a “region A” and “region B” for the incentives on some vehicles. Each region is really just a list of states that those incentives apply to. You must be in region B, which does indeed have a money factor on the Accord of .00103. Furthermore, Honda dealers aren’t allowed by Honda Financial Services to mark up special lease money factors at all, only standard leases which almost never apply.
Interestingly enough, I’m also considering leasing an Accord Sport 1.5T, and my numbers are nearly identical to yours. That is a very good deal. Finally, the incentives on these are $750 dealer cash, which is technically an incentive to them, not to you, so I wouldn’t think that taxes would figure in to that part.
Thanks so much for your feedback @JDtheKingpin - much appreciated. It is really great to get the perspective of a former insider. This is such a great forum.
I am thinking I will pull the trigger this week. Do you think asking for all weather floor mats, trunk tray & cargo net is reasonable without changing the parameters of the deal? I always like to add those to the deal. Sales people always say they pay full price for the accessories, but I doubt that.
Thanks for the guidance on the 750 incentive as well - good to have it confirmed.
Anyone have experience with costco pricing with honda?
Is it just a way to get you into the showroom?
@JDtheKingpin - I bet you have some perspective here.
That’s a pretty solid deal. Looks like the numbers on accords are finally working. Did you opt to get a quote on the sport 2.0?
You could try asking for the accessories, but I wouldn’t walk over it. A lot of dealers have that package or something similar already added to every one of their cars, but will reluctantly remove them if you insist that you won’t pay for them. I worked for one of the largest dealer groups (publicly traded) in the country, and for us the sales, service, and parts were all separate cost and profit centers. In other words, sales got raked over the coals by service and parts at full retail pop for everything. I don’t know if it works like that at all dealer groups, and probably the smaller they are the less likely that is.
So, just be aware that it is possible that they are actually paying their parts department $400 or whatever for those accessories, which means if they throw them in it actually is another $400 hit to the bottom line on that deal, which may actually be a $2000 loser for them already. It wouldn’t be that uncommon.
As for Costco, it’s just a lead generation program that the dealers pay for. They have a set price sheet that they arrange with Costco ahead of time for each model; like at invoice, $200 under, $500 over, or whatever. Then they pay Costco several hundred dollars for each lead. Here’s the thing: they are forbidden by Costco from negotiating with a Costco lead. That means that depending on your timing and negotiation skills, you may very well negotiate a better deal on your own than what the “Costco deal” is, and if you walk in the door already having talked to Costco, you’re done negotiating unless they break the rules.
Your dealer sheet shows 0.000103. That’s three zeros. Your LH calculator shows two zeros.
Nice catch. The MF is .00103.
They either messed it up and will just have to honor the monthly…or switcheroo.
Well, I just got back from the dealer and they honored the payment but had to correct the MF and drop the price by another 1,200 or so in order for the payment to line up! I will post the contract later on and also update the LH caluclator.
They did not mention a thing to me about the mix up. Usually dealers love to say “we made a mistake, but we will honor it and you are getting a great deal!” but nothing! Just thanks for your business. I heard the salesperson talking with the manager, and the manager saying something about an extra zero and said “THATS WHY!!”
The sale price of the car turned out to be be around 21,200 - which comes up $600 lower than the lowest price on truecar in my zipcode. Yes, I am pretty satisfied.
Makes you wonder, when they can drop the price by 1200 due to an error, they surely could have done it if they simply felt like it.
Looks like a great deal, especially if your payment of $268 is all in and MD taxed you on the full capitalized cost up front.
In MD if you buy the car at the end, do you have to pay sales tax on the residual (double tax?)
It is an all in payment yes! The dealer will not replicate this deal is my guess.
I have bought out a lease in MD and I just had to show the original contract in my name, and that I was buying the car myself and taxes were not charged. But that was about 5 years ago so rules may have changed.