Honda Accord EXL V6 lease question

[billydoc]

Hi all again.

I really don't know even ballpark area on it since there is no program right now. But it doesn't look bad to me for this model at all. Here it is 15,000 miles a year x 36 months (very important) lease $440 per month with ZERO out of pocket (not just zero down). Honest opinions are much appreciated but that was my negotiation. Thank You.

[IGoZoom]

Originally Posted by billydoc

Hi all again.

I really don't know even ballpark area on it since there is no program right now. But it doesn't look bad to me for this model at all. Here it is 15,000 miles a year x 36 months (very important) lease $440 per month with ZERO out of pocket (not just zero down). Honest opinions are much appreciated but that was my negotiation. Thank You.

I just plugged your info into a fairly reliable lease calculator and it appears that you got a pretty good deal. The EX-L V6 4-door stickers for $31,580 but it is currently selling for around $29k, so that's the price I used.

Price (Cap Cost) - $29,000
Residual Value- 57% ($16,530 purchase option/residual value fl
Down Payment- $0 ($0 due at signing)
Annual mileage- 15k
Lease term- 36 months
Sales Tax- 7%
Payment- $432/month

Based on this, the $440/month payment looks like a very good deal (especially with the 15k miles/year). I'm curious, what Residual Value (probably shown as Purchase Price at Lease End or Purchase Option or something similar) is for your car? Based on the calculation above, it should be around $16,530. The money factor (interest rate), residual value and sales tax may all be different where you live, but the end result of $440/month is perfectly reasonable for a 2016 Honda Accord EX-L V6 4-door.

Congrats on your new car- the Accords are very nice, especially the V6 models. My cousin bought a 2016 Accord Touring (the model slightly above the EX-L) earlier this year and she loves it! I enjoy driving it as much as I do my 2012 Mazda CX-9 or 2015 Volvo V60. If not for the Honda emblem, I'd swear I was inside a $50k luxury car when I'm riding in/driving it.

Not that this relates to your question, but I actually got to tour the Marysville, Ohio plant where the Accords are manufactured last week. I flew up to visit my best friend in Pittsburgh and we drove over there (about 3.5hrs) for the tour and museum. It was very interesting and I was amazed at the sheer volume of cars they make, but still manage to go over two out of every 60 with a fine-tooth comb.