Question about leasing a 2017 Honda Accord Sedan EX-L V6 Automatic with Navigation & Honda Sensing

Ask the Hackrs
1

Hi everyone,

After speaking with a few dealers over email about a 2017 Honda Accord Sedan EX-L V6 Automatic with Navigation & Honda Sensing I am heading to a dealership tonight. I have in writing that they have put together “a very aggressive deal for me” at $0 down 10k miles a year (I asked for this since I don’t drive that many miles) @ $409 a month.

I got in contact with them by going through TrueCar, where it says the MSRP of the car after their discount is $29,898. I also was told I should be getting $500 back because I graduated from grad school within the past 2 years.

I am trading in an 05 Honda accord v6 that is estimated to be worth about $2500. I don’t want to use this as a downpayment, since I can lose it if something happens to the car.

Using the Weymouth Honda Lease calculator (https://www.weymouthhonda.com/lease/?&code=2017CR3F0HKXW&credit=2), it is showing a slightly higher MSRP car with 12k miles but only $346 a month with 0 down.

My questions are, can I print this and use it to negotiate even though I live in NJ, and if not, how bad would paying $409 be?

If any more details are needed, please let me know.
Thanks!!

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2

Are you sure you want a $400/month Accord? What about an Acura TLX? Might be cheaper than $400.

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3

$409.00 sounds more like a 2017 Honda Accord Touring with nice LED headlights, rear deck spoiler, and nicer wheels. I had a local dealer offer me a 2017 Accord Touring for $399.00 with 0 down $0 drive off and 12k/36.

4

This does not sound like a very good deal at all. I am not overly familiar with Honda leases, but a 30k car at 409/month fails the 1% test miserably. While the 1% rule is not steadfast for all makes/models, I would think you can do considerably better than 409/month for a 30k car, especially with only 10k annual miles.

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5

Thanks everyone for your responses! This was my gut feeling which is why I posted. My fiance and I both really like the Accord we picked out, so what price do you think I should push for? 1% would be about 300 but I don’t know if they would go that low.

Thanks again!

6

Anyone have ideas of what you can get either an accord hybrid touring for, or a touring pilot?

7

There is nothing aggressive about this deal. Honda deals are normally 12k/36 months with 15 cents extra mileage charge. From what I recall accord lx is 240 a month 40 down so $320 ish should be your upper limit. Again I don’t know what bells and whistles this car has. $400 should be getting you a premium car like acura, lexus or bmw.

8

or an Infiniti Q50 3.0t (somebody said it is uncomfortable?) for definitely less than $409 (around $300 + tax)

9

I see $199/mo with 2k down deals on the Accord LX (MSRP = $24130). I seem to recall zero down leases on that car last month for ~$230.

If your car is $30k MSRP I would shoot for a $300/month zero down plus fees deal.

10

On second though maybe 300/month is too optimistic. Here is a table from cars direct:

Perhaps for the EX-L V6 you could get a nothing down deal for maybe $340-350

11

This chart makes another good point. Do you really want to pay $1000 extra to get worse gas mileage in a V6 Accord? You are literally torching $1000 for ‘some power’ for three years.

12

Compared to the LX sedan It’s $1000 extra plus $50-70 extra a month over 36 months ==> $2800 - $3520.

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My fiance has always driven V6s and likes it for the extra acceleration since we drive on the highway a lot.

The dealer refused to go below $388/month on the car even after I showed him the deal on Weymouth lease calculator that shows it should be $307/month. I told him I’d be willing to do $320 but he wouldn’t even counteroffer. The MSRP on the car is $31,730 but after TrueCar discount it is $29,898.

He tried telling us that the only way to lower it would be to put some of the fees towards it which after “doing his math” he got up to almost $4,000. How much fees in NJ should I be expecting to be paying at signing in NJ?!

14

You need to find another dealer and not play this guys game. Sounds like he’s talking about you putting money down on the deal and he’s just calling them fees.

15

Why not just go to Weymouth? They seem like they’re pretty easy to deal with. Yes it’s a hateful drive through Connecticut but you won’t have to deal with an atrocious dealer

16

I thought about it but there are so many dealers in NJ that I feel like I should be able to find something. I am visiting a dealer tonight that offered $379 with $1200 due at signing but is willing to pay the last 3 months of the lease. That would bring the effective cost down to about $348 which I’d be pretty happy with at this point. Thoughts?

17

This forum is here to help you understand how leases work and to each his own. If you are happy with $348/mo, go for it! Most folks here change trims, dealers and even brands to get a good deal. But you seem pretty set on your car of choice (good MPG but also good acceleration V6) so just find the best deal you can be happy with and enjoy your car!

18

When you are firmly entrenched in the car that you want, the best thing you can really do is shop the Weymouth deal to a couple of dealers that are local to you and see if anyone will bite on it. If not, then you can see which dealer will give you the best deal and lease the car from them.

19

Go to another dealer. For $350 monthly you could be driving Audi A4, BMW 330i, c300 benz.

For even less you can get a v6 Infiniti Q50.

20

Hi and thank you for all the info that you provide. Much appreciated.
I am looking at a 2017 Honda Accord Sedan 4dr EX-L Hybrid 12,000 miles for 36 months.
After incentives and loyalty deductions, the dealer quoted me $27,787.32. With $1k down, the payments would be $348.91. Residual Value is 51% and sell rate was 0.00039. 7% tax in florida. Does the residual value sound right? I thought it would be more.
Please help. Is this a good deal?
Thanks you