June 2008 Lease Rate for 08 Honda Accord Coupe EX-L V6
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!
Posted in *Monthy Lease Rates, Honda
June 7th, 2008 at 9:59 pm
I assume the residuals are reversed. I hope most people will figure that out, especially after reading your good expanation on why the residual is lower with the Navi.
June 9th, 2008 at 9:33 am
Thanks for the props John. Another thing worth noting is that cars with Navi will need the Navi maps updated at least once every other year. I believe the price for the map update is around $100 each time. Going with a portable Navi is should be around $50 for each update. Not to mention the fact that you can take that unit from one car to another. Most newer portable GPS systems have built-in bluetooth/handsfree capabilites. My wife and I have the Nuvi 660 and it works much better than Acura’s handsfree system.