My Take: I’ll be honest here, I don’t like the Accord’s money factor, but the residual is very nice, so you should still have a decent deal out of this. With most cars selling for around invoice or less nowadays, you can probably score are nice low payment. Remember that high residual cars should probably just be leased, not bought-out at lease end, otherwise, you will end up paying more than buying it outright. There is $1500 in dealer cash that can be used with the special financing of 3.9% for 60 months, so remember when you negotiate your sale price.
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| At Invoice | At MSRP | |||||
| Make/Model | Invoice | MSRP | 24-month | 36-month | 24-month | 36-month |
| 09 Honda Accord Sedan EX-L | $24,605 | $27,075 | $404 | $354 | $508 | $425 |
NOTE: Estimates assuming the following conditions:
- Inception fees (1st month payment, DMV, doc fee, bank fee, tire tax and possible security deposit) due at signing.
- Local Taxes not included.
- 24-month/15k and 36-month/15k terms.
- All cars are stock, without any options.
- No rebates/incentives applied
2009 Honda Accord
2009 Honda Accord Sedan EX-L
24-month | 15k miles | residual 63% | .00207 base money factor
36-month | 15k miles | residual 55% | .00207 base money factor
48-month | 15k miles | residual 46% | .00305 base money factor
I am getting the following offer on an 09 accord exl. list price 27115–buy for 22900. Lease is 3 years — 12k miles — $295. First month and $650 acquisition and I drive home. Throwing the tax adds $41 to the payment for a total of $336. Two years of free maintenence [may ask for the full 3 to close the deal] oil-filter-rotations-all inspections. Opinions?
@DZ, that looks like a sweet deal. Big discount on the price tag there + free maintenance. You’ve got yourself a good lease right there.
As of 7/17/09, a NYC Honda dealer is quoting, for a “sign & drive” 2009 2.4 EX-L automatic with:
navigation
back-up sensors
fog lights
all weather mats
splash guards
36 mo./ 15k miles @ yr.
Tier 1 Credit
NYC sales tax 8.375%
Residual 51% [seems too low to me]
Money Factor .00195
$436 @ mo. incl. sales tax
My calculations, if 51% residual is correct, would be $379 @ mo. based upon what vehicle actually sells for in regional area [incl. options] as per http://www.truecar.com history.
@SJ. You didn’t state how much the dealer was quoting the sale price for. Definitely seems like the dealer is not discount the car much. Personally, I think thats a bit high for a 4cyl Accord. I remember getting a quote around that much for a V6 Coupe.