Most models dropped about 1% to 2%  in residual value this month with the exception of newly introduced/redesigned models. Those remained the same. Strangely enough, Honda did not lower the MF on most of the cars that lost residual value. There are a few exceptions, such as the Pilot and the CrossTour, but it seems Honda is trying to capitalize on their more “fuel efficient” lineup due to higher prices as the pump.

Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.

2012 HONDA PILOT 4WD EX-L
MSRP – $36,980
Sale Price – $34,431
Monthly – $433+ tax
RWG Rating – 86.5

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2012 HONDA ACCORD COUPE EX-L V6
36 Month – Residual 50% of MSRP – .00065 Base Rate

2012 HONDA ACCORD SEDAN EX-L V6
36 Month – Residual 52% of MSRP – .00065 Base Rate

2012 HONDA ACCORD SEDAN SE AT
36 Month – Residual 55% of MSRP – .00065 Base Rate

2012 HONDA CIVIC COUPE EX AT
36 Month – Residual 57% of MSRP – .00130 Base Rate

2012 HONDA CIVIC SEDAN EX AT
36 Month – Residual 60% of MSRP – .00130 Base Rate

2012 HONDA CROSSTOUR 2WD V6 EX-L
36 Month – Residual 53% of MSRP – .00084 Base Rate

2012 HONDA CROSSTOUR 4WD V6 EX-L
36 Month – Residual 53% of MSRP – .00084 Base Rate

2012 HONDA FIT SPORT HATCHBACK AT
36 Month – Residual 60% of MSRP – .00185 Base Rate

2012 HONDA ODYSSEY EX-L AT
36 Month – Residual 55% of MSRP – .00115 Base Rate

2012 HONDA PILOT 4WD EX-L
36 Month – Residual 53% of MSRP – .00033 Base Rate

2012 HONDA CR-V 4WD EX-L AT
36 Month – Residual 62% of MSRP – .00185 Base Rate

2012 HONDA CR-Z EX AT
36 Month – Residual 61% of MSRP – .00185 Base Rate

2012 HONDA RIDGELINE RTL
36 Month – Residual 54% of MSRP – .00185 Base Rate

Just a few residual adjustments on the Accord and Crosstour. Not sure if I miss read/typed it last month or if they were actual adjustments from AHFC. Either way, nothing too significant.
As you know, I’ve been saying recently that TrueCar indicates higher sale prices last month. It has also been commented that it may be due to TrueCar no longer offering “low price guarantees”. Instead they indicate a “Target Price” instead. I think there’s some truth to both. I think part of the problem is low price guarantee price quotes don’t really work. As a matter of fact, I think its illegal to advertise a price guarantee for a vehicle without a VIN number. Nevertheless, I still recommend using TrueCar quotes as a tool to negotiate your final sale price because there really isn’t anything else like this. Just don’t expect to get that price right off the bat. Some negotiation may be in order.

Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.

2012 HONDA PILOT 4WD EX-L
MSRP – $36,980
Sale Price – $34,431
Monthly – $433+ tax
RWG Rating – 86.5

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2012 HONDA ACCORD COUPE EX-L V6
36 Month – Residual 51% of MSRP – .00033 Base Rate

2012 HONDA ACCORD SEDAN EX-L V6
36 Month – Residual 53% of MSRP – .00033 Base Rate

2012 HONDA ACCORD SEDAN EX AT
36 Month – Residual 56% of MSRP – .00033 Base Rate

2012 HONDA CIVIC COUPE EX AT
36 Month – Residual 58% of MSRP – .00081 Base Rate

2012 HONDA CIVIC SEDAN EX AT
36 Month – Residual 60% of MSRP – .00081 Base Rate

2012 HONDA CROSSTOUR 2WD EX-L
36 Month – Residual 55% of MSRP – .00087 Base Rate

2012 HONDA CROSSTOUR 4WD EX-L
36 Month – Residual 54% of MSRP – .00087 Base Rate

2012 HONDA FIT SPORT HATCHBACK AT
36 Month – Residual 60% of MSRP – .00185 Base Rate

2012 HONDA ODYSSEY EX-L AT
36 Month – Residual 57% of MSRP – .00138 Base Rate

2012 HONDA PILOT 4WD EX-L
36 Month – Residual 55% of MSRP – .00075 Base Rate

2012 HONDA CR-V 4WD EX-L AT
36 Month – Residual 62% of MSRP – .00185 Base Rate

2012 HONDA CR-Z EX AT
36 Month – Residual 62% of MSRP – .00185 Base Rate

2012 HONDA RIDGELINE RTL
36 Month – Residual 55% of MSRP – .00185 Base Rate

Honda numbers got a little worse this month. Residuals did drop on most models, but MF were also lowered to compensate. Some models did get a MF bump though (Pilot and CrossTour, to name a couple), but they are still fairly decent leases for vehicles in their respective class. I expect lease rates to remain the same through the end of February, so if you don’t like what you are seeing, hold out to see what March numbers will look like.

Last month’s Pilot EX-L 4WD lease came in at a 92.4 RWG rating. This month it comes in at 88.1, which is not as good due to MF bump and slightly higher average sale price.

Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.

2012 HONDA PILOT 4WD EX-L
MSRP – $36,980
Sale Price – $34,031
Monthly – $421+ tax
RWG Rating – 88.1

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2012 HONDA ACCORD COUPE EX-L V6
36 Month – Residual 51% of MSRP – .00033 Base Rate

2012 HONDA ACCORD SEDAN EX-L V6
36 Month – Residual 51% of MSRP – .00033 Base Rate

2012 HONDA ACCORD SEDAN EX AT
36 Month – Residual 56% of MSRP – .00033 Base Rate

2012 HONDA CIVIC COUPE EX AT
36 Month – Residual 58% of MSRP – .00081 Base Rate

2012 HONDA CIVIC SEDAN EX AT
36 Month – Residual 60% of MSRP – .00081 Base Rate

2012 HONDA CROSSTOUR 2WD EX-L
36 Month – Residual 54% of MSRP – .00087 Base Rate

2012 HONDA CROSSTOUR 4WD EX-L
36 Month – Residual 54% of MSRP – .00087 Base Rate

2012 HONDA FIT SPORT HATCHBACK AT
36 Month – Residual 60% of MSRP – .00185 Base Rate

2012 HONDA ODYSSEY EX-L AT
36 Month – Residual 57% of MSRP – .00138 Base Rate

2012 HONDA PILOT 4WD EX-L
36 Month – Residual 55% of MSRP – .00075 Base Rate

2012 HONDA CR-V 4WD EX-L AT
36 Month – Residual 62% of MSRP – .00185 Base Rate

2012 HONDA CR-Z EX AT
36 Month – Residual 62% of MSRP – .00185 Base Rate

2012 HONDA RIDGELINE RTL
36 Month – Residual 55% of MSRP – .00185 Base Rate

It looks like lease rates remain unchanged from November, which means almost everything looks great. As you know, Honda has has very good leases throughout the year. Inventory has been spotty since the Tsunami and Thai floods, but things are picking back up. Another problem they have been facing is that their cars haven’t been as desirable lately, but I am confident they will right the ship. My personal favorite lease this month is still the Pilot, which is a great (if not the best) option for a 7-seat passenger vehicle. It doesn’t have the best interior (or exterior for that matter), but for what you are paying, I think it’s fair.

Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.

2012 HONDA PILOT 4WD EX-L
MSRP – $36,980
Sale Price – $33,431
Monthly – $394+ tax
RWG Rating – 92.4

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2012 HONDA ACCORD COUPE EX-L V6
36 Month – Residual 52% of MSRP – .00050 Base Rate

2012 HONDA ACCORD SEDAN EX-L V6
36 Month – Residual 54% of MSRP – .00050 Base Rate

2012 HONDA ACCORD SEDAN EX AT
36 Month – Residual 58% of MSRP – .00050 Base Rate

2012 HONDA CIVIC COUPE EX AT
36 Month – Residual 59% of MSRP – .00098 Base Rate

2012 HONDA CIVIC SEDAN EX AT
36 Month – Residual 61% of MSRP – .00098 Base Rate

2012 HONDA ACCORD CROSSTOUR 2WD EX
36 Month – Residual 57% of MSRP – .00058 Base Rate

2012 HONDA ACCORD CROSSTOUR 4WD EX-L
36 Month – Residual 55% of MSRP – .00058 Base Rate

2012 HONDA FIT SPORT HATCHBACK AT
36 Month – Residual 61% of MSRP – .00185 Base Rate

2012 HONDA ODYSSEY EX AT
36 Month – Residual 61% of MSRP – .00155 Base Rate

2012 HONDA PILOT 4WD EX-L
36 Month – Residual 55% of MSRP – .00056 Base Rate

2012 HONDA CR-V 4WD EX AT
36 Month – Residual 57% of MSRP – .00077 Base Rate

2012 HONDA CR-Z EX NAV AT
36 Month – Residual 62% of MSRP – .00185 Base Rate

2012 HONDA RIDGELINE RTL
36 Month – Residual 55% of MSRP – .00185 Base Rate

We all know the Pilot 4WD LX leases well. The problem with that is that it’s a base model which is limited in availability (and typically not very desireable). Enter the EX-L, all decked out (minus Nav and RES) with your usual creature comforts. As you can see in the calculation below, it is still one heck of a lease. I have yet to see another 7-seater that chimes in at under $400 before taxes, with just inception fees at signing. I’m not big on the Pilot’s looks (or any current Honda for that matter), but the rates are friendly, the discounts are big and the lease program is one-of-a-kind.

Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.

2012 HONDA PILOT 4WD EX-L
MSRP – $36,980
Sale Price – $33,556
Monthly – $397+ tax
RWG Rating – 91.8

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2012 HONDA ACCORD COUPE EX-L V6
36 Month – Residual 52% of MSRP – .00050 Base Rate

2012 HONDA ACCORD SEDAN EX-L V6
36 Month – Residual 54% of MSRP – .00050 Base Rate

2012 HONDA ACCORD SEDAN EX AT
36 Month – Residual 58% of MSRP – .00050 Base Rate

2012 HONDA CIVIC COUPE EX AT
36 Month – Residual 59% of MSRP – .00098 Base Rate

2012 HONDA CIVIC SEDAN EX AT
36 Month – Residual 61% of MSRP – .00098 Base Rate

2012 HONDA ACCORD CROSSTOUR 2WD EX
36 Month – Residual 57% of MSRP – .00058 Base Rate

2012 HONDA ACCORD CROSSTOUR 4WD EX-L
36 Month – Residual 55% of MSRP – .00058 Base Rate

2012 HONDA FIT SPORT HATCHBACK AT
36 Month – Residual 61% of MSRP – .00185 Base Rate

2012 HONDA ODYSSEY EX AT
36 Month – Residual 61% of MSRP – .00155 Base Rate

2012 HONDA PILOT 4WD EX-L
36 Month – Residual 55% of MSRP – .00056 Base Rate

2011 HONDA CR-V 4WD EX AT
36 Month – Residual 59% of MSRP – .00077 Base Rate

2011 HONDA CR-Z EX NAV AT
36 Month – Residual 62% of MSRP – .00185 Base Rate

2011 HONDA ELEMENT 4WD EX AT
36 Month – Residual 59% of MSRP – .00185 Base Rate

2011 HONDA RIDGELINE RTL
36 Month – Residual 55% of MSRP – .00185 Base Rate

Too bad the current CR-V isn’t the one pictured above because the lease rates look solid. Very high residual, reasonable money factor. Discounts are about 10% here in So Cal. Inventory levels seem fairly healthy too. I smell a good deal here. Another model to look at is the Pilot. My estimates on the 4WD LX look quite good for a 2012 model. I think these leases are priced to move. I would love to get a Pilot right now so I can haul house stuff to and from Lowe’s. Also, keep an eye on financing. 0.9% is a good deal, so buying could be better than leasing if you have the cash. Check out Edmund’s Incentives page for more details.

Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.

2012 HONDA PILOT 4WD LX
MSRP – $30,880
Sale Price – $28,157
Monthly – $313+ tax
RWG Rating – 95.8

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2012 HONDA ACCORD COUPE LX-S AT
36 Month – Residual 56% of MSRP – .00050 Base Rate

2012 HONDA ACCORD SEDAN LX AT
36 Month – Residual 58% of MSRP – .00050 Base Rate

2012 HONDA ACCORD SEDAN EX AT
36 Month – Residual 58% of MSRP – .00050 Base Rate

2012 HONDA CIVIC COUPE LX AT
36 Month – Residual 61% of MSRP – .00185 Base Rate

2012 HONDA CIVIC SEDAN LX AT
36 Month – Residual 63% of MSRP – .00185 Base Rate

2012 HONDA ACCORD CROSSTOUR 2WD EX
36 Month – Residual 59% of MSRP – .00068 Base Rate

2012 HONDA ACCORD CROSSTOUR 4WD EX-L
36 Month – Residual 57% of MSRP – .00068 Base Rate

2012 HONDA FIT HATCHBACK AT
36 Month – Residual 61% of MSRP – .00185 Base Rate

2012 HONDA ODYSSEY LX AT
36 Month – Residual 63% of MSRP – .00185 Base Rate

2012 HONDA PILOT 4WD LX
36 Month – Residual 58% of MSRP – .00061 Base Rate

2011 HONDA CR-V 4WD LX AT
36 Month – Residual 60% of MSRP – .00095 Base Rate

2011 HONDA CR-Z HATCHBACK AT
36 Month – Residual 61% of MSRP – .00185 Base Rate

2011 HONDA ELEMENT 4WD LX AT
36 Month – Residual 59% of MSRP – .00185 Base Rate

2011 HONDA RIDGELINE CREW CAB RT
36 Month – Residual 55% of MSRP – .00185 Base Rate

Honda numbers look decent for most remaining 2011 models. 2012 models still seem a bit expensive at the moment since the MF is quite high and the discounts are not very significant. If I where in the market for a Honda right now, I would look at the 2011 models first to see what remains and try to get the lowest sale price in town. Models I recommend looking into are the CR-V, Pilot and any remaining Accord.

Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.

2011 HONDA PILOT 4WD LX
MSRP – $30,730
Sale Price – $26,721
Monthly – $316+ tax
RWG Rating – 94.7

For Dealer Quotes, Click Here.

2011 HONDA ACCORD COUPE LX-S AT
36 Month – Residual 52% of MSRP – .00050 Base Rate

2011 HONDA ACCORD SEDAN LX AT
36 Month – Residual 54% of MSRP – .00050 Base Rate

2011 HONDA ACCORD SEDAN EX AT
36 Month – Residual 54% of MSRP – .00050 Base Rate

2012 HONDA CIVIC COUPE LX AT
36 Month – Residual 61% of MSRP – .00185 Base Rate

2012 HONDA CIVIC SEDAN LX AT
36 Month – Residual 63% of MSRP – .00185 Base Rate

2011 HONDA ACCORD CROSSTOUR 2WD EX
36 Month – Residual 54% of MSRP – .00185 Base Rate

2011 HONDA ACCORD CROSSTOUR 4WD EX-L
36 Month – Residual 52% of MSRP – .00185 Base Rate

2011 HONDA CR-V 4WD LX AT
36 Month – Residual 60% of MSRP – .00095 Base Rate

2011 HONDA CR-Z HATCHBACK AT
36 Month – Residual 61% of MSRP – .00185 Base Rate

2011 HONDA ELEMENT 4WD LX AT
36 Month – Residual 59% of MSRP – .00185 Base Rate

2011 HONDA FIT HATCHBACK AT
36 Month – Residual 58% of MSRP – .00185 Base Rate

2011 HONDA ODYSSEY LX AT
36 Month – Residual 58% of MSRP – .00155 Base Rate

2011 HONDA PILOT 4WD LX
36 Month – Residual 53% of MSRP – .00061 Base Rate

2011 HONDA RIDGELINE CREW CAB RT
36 Month – Residual 55% of MSRP – .00185 Base Rate

Consumer Reports smacked the crap out of the 2012 Honda Civic in their latest review (talk about PR nightmare). Justified or not, Honda needs to face the fact that their competition has improved dramatically. I have not driven the 2012 Civic yet, but based on the photos I have seen, I am unimpressed. I have seen the Fiesta, Elantra and Cruze in person and they look top notch. I think part of the problem with Honda is that they do not approach design the same way automakers such as BMW, Hyundai, Audi, Mazda and Nissan do (I know Acura does, but I also know that was a disaster. i.e. TL redesign). There doesn’t seem to be a design philosophy in place, which is why Hondas have become so bland over the years. Sure, you see a few concepts here and there, but I don’t really see many of those case-studies translating into production vehicles.  I love Honda leases, but they really need to work on the design of their products a bit more. They also need to think twice about how they go about cost cutting. If they take the Toyota/VW route, I will probably never lease a Honda/Acura product again.

Anyway, for the month of August, I am still liking the Honda Pilot’s lease if you are looking for a large SUV. Last month, Ashwenm got a great deal on the Pilot EX. Since rates haven’t changed, expect about the same deal this month. Other notable leases are the CR-V and Accords.

Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.

2011 HONDA PILOT 4WD LX
MSRP – $29,130
Sale Price – $25,509
Monthly – $308+ tax
RWG Rating – 92.9

For Dealer Quotes, Click Here.

2011 HONDA ACCORD COUPE LX-S AT
36 month | 15k miles | residual 54% | .00049 base money factor

2011 HONDA ACCORD CROSSTOUR 2WD EX
36 month | 15k miles | residual 56% | .00049 base money factor

2011 HONDA ACCORD CROSSTOUR 4WD EX-L
36 month | 15k miles | residual 54% | .00049 base money factor

2011 HONDA ACCORD SEDAN LX AT
36 month | 15k miles | residual 56% | .00049 base money factor

2011 HONDA ACCORD SEDAN EX AT
36 month | 15k miles | residual 56% | .00049 base money factor

2012 HONDA CIVIC COUPE LX AT
36 month | 15k miles | residual 62% | .00185 base money factor

2012 HONDA CIVIC SEDAN LX AT
36 month | 15k miles | residual 64% | .00185 base money factor

2011 HONDA CR-V 4WD LX AT
36 month | 15k miles | residual 60% | .00078 base money factor

2011 HONDA CR-Z HATCHBACK AT
36 month | 15k miles | residual 63% | .00185 base money factor

2011 HONDA ELEMENT 4WD LX AT
36 month | 15k miles | residual 59% | .00185 base money factor

2011 HONDA FIT HATCHBACK AT
36 month | 15k miles | residual 60% | .00200 base money factor

2011 HONDA ODYSSEY LX AT
36 month | 15k miles | residual 60% | .00144 base money factor

2011 HONDA PILOT 4WD LX
36 month | 15k miles | residual 55% | .00107 base money factor

2011 HONDA RIDGELINE CREW CAB RT
36 month | 15k miles | residual 56% | .00185 base money factor