Accord

September 2008 Lease Rate for 08/09 Honda Accord and 08 Civic Si

Published by G

My Take: It doesn’t look like Honda is providing any lease support at the moment. You can also see how Honda is discouraging 08 leases by bumping the MF to .00370 on the 24-month leases and using their standard .00270 lease rate for their 36-month leases. If you need me to work up a scenerio here, leave a comment with the terms you are interested in.

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2009 Honda Accord Coupe EX I4 Manual
24 Month – Residual 68% of MSRP – .00249 Base Rate
36 Month – Residual 60% of MSRP – .00249 Base Rate
48 Month – Residual 51% of MSRP – .00255 Base Rate
60 Month – Residual 38% of MSRP – .00270 Base Rate

2009 Honda Accord Coupe EX-L V6 Manual
24 Month – Residual 67% of MSRP – .00249 Base Rate
36 Month – Residual 56% of MSRP – .00249 Base Rate
48 Month – Residual 47% of MSRP – .00255 Base Rate
60 Month – Residual 36% of MSRP – .00270 Base Rate

2008 Honda Accord EX-L V6 w/Navigation Sedan Auto
24 Month – Residual 62% of MSRP – .00370 Base Rate
36 Month – Residual 52% of MSRP – .00270 Base Rate
48 Month – Residual 42% of MSRP – .00255 Base Rate
60 Month – Residual 33% of MSRP – .00270 Base Rate

2008 Honda Civic Coupe Si
24 Month – Residual 67% of MSRP – .00370 Base Rate
36 Month – Residual 58% of MSRP – .00270 Base Rate
48 Month – Residual 48% of MSRP – .00255 Base Rate
60 Month – Residual 39% of MSRP – .00270 Base Rate

Rates provided by Tarry Shebesta from Leasecompare.com

Battle of the Sedans: Camry, Accord or Altima

Published by G

Instead of recommending which car is built better, I’ve decided to take a different approach and tell you which car leases better. For this particular “special competition”, I’ll be comparing the Accord, Camry & Altima. You probably don’t need my thoughts about which car is the better car, after all, there are tons of websites doing that already. I just want to tell you which one will save you some greens. Let’s roll!

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  • Camry XLE V6
  • MSRP $30,014 ($30,514-$500)
  • Invoice N/A
  • Standard inception fees + tax not included
  • Residuals posted are for 12K miles/year.

2009 Toyota Camry XLE V6
36 Month – Residual 62% of MSRP – .00099 Base Rate

36mo Payment: $337 at TMV, $357 at MSRP

Without an invoice price, it is rather difficult to get a nice range on the Camry. Edmund’s TMV does suggest the sale price to be about $29,317 after the $500 rate. This means you only about $697 off MSRP in most areas.

  • Altima Sedan 3.5 SE + Premium + Moonroof
  • MSRP $29,685
  • Invoice $27,367
  • Standard inception fees + tax not included
  • Residuals posted are for 12K miles/year.

2008 Nissan Altima Sedan 3.5 SE
36 Month – Residual 56% of MSRP – .00087 Base Rate

36mo Payment: $337 at invoice, $397 at TMV, $403 at MSRP

TMV suggests the sale price to be at around $29,476. Not much of a discount off MSRP here according to Edmunds. I’m not 100% sold on that fact however. Keep in mind that the Altima is a 2008 model, so I think discounts could be had.

  • Accord EX-L V6
  • MSRP $28,730
  • Invoice $26,086
  • Standard inception fees + tax not included
  • Residuals posted are for 12K miles/year.

2008 Honda Accord EX-L V6
36 Month – Residual 58% of MSRP – .00129 Base Rate

36mo Payment: $317 at invoice, $341 at TMV, $393 at MSRP

For the Accord, we are looking at a sale price of $26,927 according to Edmund’s TMV. Cheapest of the bunch thus far. But how does it lease with a higher MF and middle of the pack residual? About the same.

My Take: Clearly, the Camry stands tall compared to the other two. At TMV price, it blows away the Altima and is relatively competitive with the Accord, at $4 less per month. The Camry comes in with the highest residual and the 2nd lowest MF (by a hair), making it the more attractive lease despite the fact that it’s the most expensive car of the bunch. The only instance in which I would pick the Accord or the Altima over the Camry is if both could be had at invoice or below invoice price and the Camry couldn’t. In the spirit of the Olympics, here’s how the winners break down.

Gold Medal: Toyota Camry XLE V6
Silver Medal: Honda Accord EX-L V6
Bronze Medal: Nissan Altima 3.5 SE

Lease rates for remaining Accord and Altima Coupe models:

2008 Nissan Altima S w/CVT Manual Coupe
24 Month – Residual 66% of MSRP – .00209 Base Rate
36 Month – Residual 57% of MSRP – .00209 Base Rate

2008 Honda Accord LX-S I4 Automatic Coupe
24 Month – Residual 65% of MSRP – .00186 Base Rate
36 Month – Residual 55% of MSRP – .00186 Base Rate

2008 Honda Accord LX-S I4 Manual Coupe
24 Month – Residual 65% of MSRP – .00186 Base Rate
36 Month – Residual 55% of MSRP – .00186 Base Rate

2008 Honda Accord EX I4 Manual Coupe
24 Month – Residual 66% of MSRP – .00186 Base Rate
36 Month – Residual 55% of MSRP – .00186 Base Rate

2008 Honda Accord EX I4 Automatic Coupe
24 Month – Residual 66% of MSRP – .00186 Base Rate
36 Month – Residual 55% of MSRP – .00186 Base Rate

2008 Honda Accord EX-L I4 w/Navigation Manual Coupe
24 Month – Residual 61% of MSRP – .00186 Base Rate
36 Month – Residual 52% of MSRP – .00186 Base Rate

2008 Honda Accord EX-L I4 Automatic Coupe
24 Month – Residual 63% of MSRP – .00186 Base Rate
36 Month – Residual 54% of MSRP – .00186 Base Rate

2008 Honda Accord EX-L V6 Coupe Automatic
24 Month – Residual 63% of MSRP – .00186 Base Rate
36 Month – Residual 53% of MSRP – .00186 Base Rate

2008 Honda Accord EX-L w/Navigation Coupe Automatic
24 Month – Residual 61% of MSRP – .00186 Base Rate
36 Month – Residual 51% of MSRP – .00186 Base Rate

Rates provided by Tarry Shebesta from Leasecompare.com

July 2008 Lease Rate for 08 Honda Accord LX

Published by G

Honda Accord LX
36mo/15k –  money factor .00186 – residual 58%

My Take: The MF fairly reasonable for the month of July and the residual is still strong (60% for 12k yearly miles). Is a fantastic deal like Honda commercials claim it is? Not really, but they can find your lost beagle, shuck you some oysters and what not, that WOULD BE a great deal.

June 2008 Lease Rate for 08 Honda Accord EX-L

Published by G

2008 Honda Accord Sedan EX-L
36mo/12k – residual 60% – money factor .00200

2008 Honda Accord Coupe EX-L w/Nav
24mo/12k – residual 64% – money factor .00350
36mo/12k – residual 55% – money factor .00250
48mo/12k – residual 46% – money factor .00235

My Take: If had to pick between the TSX and the Accord, I’d go with the TSX. Longer warranty and sportier. In all honesty, the new Accord Sedans are ugly to me. They borrow too much from the BMW 5-series in terms of it’s styling, which is very unoriginal. The lease looks alright for the month. Residual value remains strong and the money factor is a tad lower than their standard rate (as seen on the coupe). If you need a fuel efficient car with room for 5 adults, this is your ride.

June 2008 Lease Rate for 08 Honda Accord Coupe EX-L V6

Published by G

Accord Coupe Ex-L V6 w/ Nav
36mo/12k – money factor .00250 – residual 57%

Accord Coupe Ex-L V6 w/o Nav
 36mo/12k – money factor .00250 – residual 55%

My Take: Unless you love integrated Navigation, I personally don’t think it’s worth leasing a car with one. Not only you pay for the “inflated costs” of having one installed into your car, but you also get nailed by a lower residual, making it that much more expensive. I suspect that part of the reason why a car with Navi has lower residual is because technology depreciates pretty fast. Think about it, your 3-yr old PC probably isn’t holding up too well right now compared to the new ones, right? I always laugh at people when they say that their cars are investments, specially the ones with Navi. LOL!

And then there were three (maybe four)

Published by G

I’ve been putting a lot of thought into the final 5 cars on my list and decided to scratch out the Acura TL. The car is a fairly common ride in SoCal. I like them like prime rib, medium-RARE, the TL is more like medium-well around these parts. Another reason is the rate hike, making the lease less attractive than it was back in March. So long, farewell, Auf wiedersehen Good Night!

Here are the remaining candidates in order of preference:

Infiniti G37 base – I’m working on perhaps getting this at $200 under invoice price…still waiting on some quotes. I’m shooting for around $1350 drive-off (1st payment, tags, bank fee, doc fee, etc…) and $414 a month. This car is stock though, so i don’t get all the fancy technology stuff the Journey offers. Its not to say that this comes poorly equipped, the standard list of features isn’t too bad actually. My main reason for lusting after this ride? the styling and the 330hp V-6 engine, which by the way, gets slightly better MPG than the Mazda CX7’s 4cyl Turbo.

Infiniti G35 Journey – Same as the G37 in terms of pricing. Working on $200 under invoice for ideal price. It should be around the same drive-off, but about $2 less per month (wooo-freaking-hoo), $412.

Mazda CX-7 GT – I like this car so far because its got potential to become a better deal. I know I can probably work it some more and get it under $400 a month with no more than $1000 drive-off. Plus this puppy is fully loaded, with the exception of RES (rear entertainment system), which is fine since I don’t have kids…yet. But everything else is there, including the poor gas mileage.

Afterthoughts

I’m keeping the Accord V6 coupe in the back burner right now…the money factor kills me, but I think if they are willing to sell for invoice it would really help offset the bad rate. This is more like the worst, worst, worst case scenario. It’s a long shot, but it’s still a shot since I really like the overall aspects of this car.

How do they drive you ask? No freaking clue, I haven’t even taken the time to go test drive them, but I am planning to go this coming weekend. It would be a good opportunity to get a feel for what I can get for my trade-in as well. I could probably wait another month to see if the rates improve too, but I’m getting rather antsy…which is not a good thing.

New Quotes Are In. The List Narrows.

Published by G

First things first. I got quotes for the Mazda CX-7 GT and the Honda Accord V6 Coupe. Here is the quick breakdown:

CX-7 GT FWD

Term- 36mo/12k miles/yr
MSRP – $31,740
Cap Cost- $29,064 ($30 bucks over invoice, nice)
Residual- 54%
MF- 0.00094
Other- $750 rebate (altho I’m now told is $700, fiiiisshhhy)

Honda Accord V6 Coupe

Term- 36mo/12k miles/yr
MSRP- $28,945
Cap Cost- $26970 ($700 over invoice, I think they could do better, this ain’t no BMW after all)
Residual- 58%
MF- 0.00245 (5.88%, oh that hurts so bad)

You can see the drive-off and the monthly numbers on the “Recent Quotes” panel on the right hand side of this page.

My thoughts…I would have pulled off the deal for the Accord Coupe TODAY if the MF was lower (around 2-2.5%) and if they would get a bit closer to invoice (maybe no more than $200 over). But alas, you can’t have it all and I have no intention to negotiate at the moment. The thing is, even if I pushed for invoice on the Accord, I’d still be paying $399 after taxes. The Acura TL is still looking mighty fine right about now.

As far as narrowing the list, I’ve canned the Lexus IS250 because all local Lexus dealer sites don’t show inventory online, so I can’t get a “realistic” quote for a specific car they have on their lot. Plus, its sorta underpowered in my opinion.

My goal is to get the best ride for $400 a month after tax. Right now, pretty much all quotes I’ve gotten, except for the TL, are WAY over. I got some wiggle room though, I don’t need a 12k mile lease, I can do 10k since I live pretty close to work (12 mile round trip), I am willing to pay all fees upfront (1st month, tags, doc, bank fee, tires, etc…) as long as it doesn’t exceed $1200. So with a little help from the Money Factor and Residual faeries, I think I can pull this off.

Who’s In:
G37
G35
TL
Accord Cpe (still in, for now, I really dig the looks)
CX-7 GT (I might opt for the Touring or Sport to cut costs if necessary)
Who’s Out:
G8
IS250
Altima Cpe
Camry SE

The Infiniti EX35 looks sort of lease worth right now, so I might inquire about it.
Stay tuned!