I’m currently leasing a Honda Civic and the lease is nearly matured. I have FICO scores ranging between (754-802).
I reached out to a Honda dealer (Long Island, NY) for a quote on a 2019 Honda Accord EX-L (MSRP: $31,040). I reached out to a different dealer than the one I currently have a lease with. Both dealerships are official Honda dealers. My current lease is through Honda Financial Services, which is in good standing.
I don’t have a lot of the financial details yet, but I was given a quote on leasing a 2019 Honda Accord EX-L. I wanted to share it on here to see how it fairs --maybe other users have leased the same vehicle.
I was quoted the following (with preferred credit):
Here’s the 2019 Honda Accord EX-L details:
$382/month, $0 down. 36 months, 10K miles/year. And first payment, tax, DMV fees.
MSRP: $30,120
Selling price: $28,567
Residual: $17,382.40
Money Factor: 0.001180
Here’s the quote I received for the 2019 Honda Civic EX-L:
$290/month. $0 down. 36 months, 10K miles/year.
MSRP: $24,600
Selling price: $23,769
Residual: $15,567.20
Money Factor: 0.001080
I also reached out to my current dealership. The salesperson I talked to asked what I was offered at the dealership I’m looking at and said she would talk to her manager to counter. I haven’t heard back from her yet.
I’m assuming the quoted rates aren’t set in stone and I’ll have room to negotiate. What are your impressions?
With Honda, shoot for 10-percent off MSRP, plus any dealer lease cash incentives on Accord for the month. Look up the money factor on Edmunds forums. Add back the $595 acquisition fee on top of cap cost. That would be a good deal for the vehicle. Put all of that into the calculator to find out what the payment should be.
I ran the numbers with 10% off plus the incentives (seems like only 300 bucks based on Edmunds) and I’m getting a deal pretty close to where OP is already at with his dealer. He needs a much bigger dealer discount.
Honda overproduced he 2018s but didn’t make the same mistake for 2019s. If it we’re me and I was looking for value, I would look to buy a 2018 still on the lot. Seems like there are still 20+ EX-L/touring models in western long island/NYC/north jersey. 25%-30% off MSRP might be doable on these older models. With Honda’s deflated residuals have to really run the math on purchasing a 2018 versus leasing a 2019.
Couldn’t agree more. Long Island is where deals go to die… dealers there have no interest in being reasonable and many also try to circumvent the NY cap on doc fee by adding enormous dealer prep fees. Or my favorite trick: “advertised price is after $1995 down”. I once helped a buddy negotiate a CPO Camry there and worked to get that fee out but it wasn’t easy.
Hey there, I remember us talking when you were helping your friend with a 2018 accord sport. I almost landed with a sport myself but the dealer (in nj) had sadly sold it to someone else before.
Yeah, LI just absolutely sucks, the dealerships do not need the customer, as they are too many people willing to pay them top notch money. People will gladly do deals at <= 7% dealer discounts.
so based on everyone’s advice here, I’m trying my luck with jersey as well.
so what’s the strategy to make sure your 2-3 hour drive out of LI isn’t wasted? ask dealer for a contract before hand?
over email, they just give e-price and only a few would give entire breakdowns for a proper out the door pricing. Even then how do you know that once they managed to make you drive the distance, there won’t be last minute games in person?
My old car broke down and I desperately need a car soon. The dealers it seems like start with high balling offers and work their way towards reasonable offers toward the end of month. almost seems like no point in contacting them early in the month.
My previous post about the quotes I received from my Honda dealer were lacking in detail. I got more information from the salesman about the details for the lease (which I should mention is via email communication).
Here’s the 2019 Honda Accord EX-L details:
$382/month, $0 down. 36 months, 10K miles/year. And first payment, tax, DMV fees.
MSRP: $30,120
Selling price: $28,567
Residual: $17,382.40
Money Factor: 0.001180
Here’s the quote I received for the 2019 Honda Civic EX-L:
$290/month. $0 down. 36 months, 10K miles/year.
MSRP: $24,600
Selling price: $23,769
Residual: $15,567.20
Money Factor: 0.001080
I should also mention I’m waiting for another dealership to counter. My FICO scores range from 754-802. Also, the quoted prices are just the initial quotes. I haven’t done any negotiating. Also, I’ll be leasing the car on Long Island, NY, which from what I understand, is notorious for not giving the best deals.
