You’ll need to broaden your horizon to a lot more than 1 dealer unless you get extremely lucky.
10% off seems reasonable to me. What have you found on other Accord deals posted on here and Honda forums?
In the absence of incentives or tax credits it’s going to be painful for an Accord lease. It may make more sense financially to buy and use that drive-off amount plus the $595 acq fee you’d save as a down payment on a finance. You’d have to see where the break-even point is on rent charge/lease cost versus finance charge/buy cost.
Rethink this next time. For my last two Lexus leases i spent total about $600 for maintenance at Lexus dealership service. When You get to the service always request ONLY oil change and tires rotatarion.
The main reason for that was VIP pick up/drop off service that is included with maintenance. For $350, I don’t ever need to set foot into dealership, they bring loaner to my house, and then bring serviced car back. This alone was worth the cost to me.
There is generally little reason to visit a dealership except to test drive or to pick up. You can do negotiation over phone/email.
LH score is completely meaningless.
Does the $200 incentive apply to leasing only? Is there a finance incentive?
Download an auto loan amortization calculator and review your cost of financing after 3yrs versus your cost of leasing.
I get $18,050 in payments after 3yrs ($501.39/mo) assuming that your loan is $28,677 ($28,877 selling price with $3114 paid up front for all taxes/fees plus $200 down payment) at 1.9% APR for 60 months. However the principal after 36mos is $11,798. Lease RV is $19,572. $19,572-$11,798 = $7,774 theoretical positive equity. $18,050 - $7,774 = $10,276 cost ($285/mo). Compared to $302/mo lease cost with the same DAS not a big difference, but something. This has to be weighed with the benefits of leasing (known residual risk). I did not include the lease disposition fee which is $350, so I guess one could argue that it’s more like $311/mo to lease vs. $285/mo to finance.
I think with an Accord it is a relatively low risk to compare leasing and buying like this and assuming that the RV is somewhat accurate. There is not much difference in buying vs. leasing in this case since rent charge is low and tax situation is the same since TX charges full tax on selling price up front. If MF was high, you’d see a huge difference in rent charge since it is not compounding like finance charge is (rent charge is always same $/mo whereas finance charge reduces with principal).
Not really sure I follow at this point. You said to rethink getting pre-paid maintenance next time, seemingly alluding to higher costs of getting it upfront, even though my cost is $350 vs your $300? I also clarified that one of major reasons I got it was convenient free loaner service that is included in the cost. I honestly fail to see your point here.
You have to work out much better leasing numbers than those and work with at least 6 to 8 dealerships and play one vs the others. Don’t even bother with a $350+ honda ex-l lease.
I don’t understand why $380 is a bad number. They’re getting 10% off msrp (I haven’t really seen accords go for over 10% off but if you have enlighten me), buy rate mf, and all taxes/fees rolled into the lease price. Absent some serious incentives, which don’t exist right now outside of $200, what more can be done? I think if they want the accord, which is an awesome car that punches well above its weight and is comparable to cars that would lease for more, there’s nothing on that deal that seems off.
Judging by a quick search in shared deals, it looks like 11-12% dealer discount was attainable a short while back on Accord different trims. With the current chips and inventory situation, I’d say 10% off pre-incentive + buy rate on Accord, in TX, which is not most competitive market, does seem like a pretty solid deal. Could be improved depending on a level of effort and luck, but certainly nothing frightening about it.
@Traderx, OP is in TX, he has to pay taxes on full selling price of the car. This contributes to higher payment than say comparable deal from low taxes state.
I don’t know what situation the guy is in, meaning how desperately he needs a new car but if they can wait it out a few months I believe incentives will get a hell of alot better, I know they are in Texas and have to pay taxes on the full selling price but at $380 for an EX-L even with 10% off msrp is just way too much. I would opt for an entire different car model instead of paying $380 for an accord ex-l. A $200 incentive is a joke, that should also push higher in the months ahead. I’m going to be in the market for a new lease in the next few months and if I can’t get the numbers I want I’m going to extend my lease until I do. I know this market today for new car leases is well against the consumers due to production limits and also chip shortages but that too will only last for so long.
I’m confused. This is cheaper than your original target. What is your target price based on? $380 with $0 DAS seems like a great deal based on what you originally posted.
@Traderx for the 7000th time, the blind payment criticism and crystal ball guessing isn’t helping. It’s misleading at best.
I’m not trying to mislead anyone, what I’m trying to say is if they aren’t in desperate need for a lease at this moment and can hold off I believe prices will subside in their favor, that’s all. I still don’t believe $380 zero down for an accord with some leather trim is worth $380 a month. That’s just me. I mean a few bucks more he can grab an entry level luxury loaner.
