Honda

Looking Ahead

Published by G

I know it hasn’t been the easy for many of you trying to hunt down lease rates this month.  I too have been impacted since I was just about to begin shopping for my Sonata replacement. The good news is that a whole lot of you have stepped up to keep things alive, which is phenomenal. This may be the best way to keep things alive in my opinion. Going forward, I will do my best to establish a place to gather and share information, doing my best to provide you with the resources to make leasing an easier endeavor.

Starting this month, you will begin to see some of the changes that I plan to implement to further improve the site. Below are some of the things that you should expect in the coming months:

  1. Website redesign to accomodate the new structure.
  2. Crowd-sourced model will be refined (Kudos to Ron for the Google Forms suggestion). In future, I will have a more “home-brewed” system in place. In the meantime, Google Forms will do the job
  3. Based on the Aug-Sept poll results, lease rates will be streamlined, focusing key brands such as BMW, Audi, Acura, MBZ, Lexus, Infiniti, Honda and VW, with Volvo added whenever supplied. However we will not be limited to only those (see next bullet)
  4. There will be another list of rates for “one-off” models from all other makes (I decided this once I got a chance to see the Lincoln MKZ. I am really curious as to how much this ride goes for)
  5. Registration will be required to post questions, requests, interact with me and other members.
  6. Lease calculator will get a major overhaul and will be planned for mobile devices (this will take time and money to put together so please be patient)

There seems to be some “doomsday” reaction going around regarding this site being “shutdown”.  As you know, that isn’t the case. The truth is that my “source” decided that lease rates in exchange for referrals isn’t in their best interest anymore. No other source has stepped since offering to supply me with more numbers, so this is where we are.  Should the community choose not to grow from what we’ve built, then we all know what happens next.

As consumers, we will ultimately determine whether sites like this stick around. I have had three brokers supply numbers in the past and they all have stopped. That model was clearly not sustainable in the long haul. Our best chance is to get the numbers independently and share them with the community. We want their cars. We choose who we do business with. We don’t want to be cheated. Is that simple.

I will continue to contribute community to the best of my abilities. I genuinely hope everyone else does the same.

Thank you all for the many years of support. Let’s keep the wheels spinning.

G

Bank Acquisition Fees. What to Expect.

Published by G

Here is a partial list of bank acquisition fees. If you have leased with a brand or bank that’s not listed here, please share with the rest of us. Fees marked with a (*) are unconfirmed.

UPDATE (12/10/2012) – Had a very interesting conversation with the Honda finance guy the other day regarding bank acquisition fees. My original understanding of bank fees was that they served as two things: 1) loan processing 2) GAP coverage (for most banks). However, there is another little known reason why the amount is so high…apparently, the bank (which is a separate entity from the manufacturer) uses portions of that fee to pay for an multi-million dollar umbrella policy for their leased vehicles in case the lessee damages property or kills someone. As you know, we live in a very “sue-friend” country and when the plaintiff can’t get money from the defendant, we all know who they sue next.

Acura – $595
Audi – $695
BMW – $725
Buick – $795
Chevrolet – $795
Ford– $595
Honda – $595
Hyundai – $595
Infiniti – $595 $700
Jeep $795 (Ally)
Kia $595
Lexus – $695
Lincoln– $595
Mazda – $595 (Chase)
Mercedes-Benz – $795
Nissan – $595
Porsche – $895
Range Rover – $795
Subaru – $595
Toyota – $650
Volkswagen – $595
Volvo – $695

Special thanks to everyone who has contributed to this list!

The Wall: Mrs G’s 2013 Honda Pilot EX 4WD

Published by G

Name: Mrs G
Location: California
What She’s Got: White 2013 Honda Pilot EX 4WD
What It Cost:

36-month | 12k miles | residual 58% | .00022 base money factor
MSRP $34100
Sale Price: $30780
Due at signing: $360
Monthly (w/tax): $374
RWG Rating – 98.0

My Take: It was excruciating finding a 4WD EX model here in So Cal. Within a 25 mile radius of my city, there were only TWO EX 4WDs. One was black and the other one was white. There about 5 more EX models out in San Bernardino county with Grey being the other color available besides white and black. Didn’t feel like driving a good hour and change, so I tried to negotiate on what’s available. I don’t want to bad-mouth certain dealers too much, but I have to say, some are just painful to deal with. Internet/Fleet just isn’t like it used to be. Many are just floor sales hiding behind a computer. Most can’t even give a competitive quote without trying to force you into the dealership or pressure you over the phone. The good news is that there are the occasional few that are so pleasant to deal with and don’t require much negotiation. Rock bottom price right off the bat!

Anyway, wife is very happy with her ride. I didn’t get all weather mats thrown in this time because I was working on 11 hrs of sleep in the last 48 hrs and I was emotionally drained due to a family situation the night before. Add on the fact that I was negotiating on a car that was as rare as this one, I just didn’t have it in me to work the guy for another $260 bucks.

If you need a Honda here in So Cal and want a hassle free experience, let me know. I got a couple guys you should talk to.

2012-13 Honda Lease Rates – October 2012

Published by G

Nothing too crazy here. New Accord’s numbers came in about what I expected. Relatively high residual along with a high money factor. Last month’s Truecar sales data has the sale of 2013 Accords all over the map. Anywhere from invoice to well over MSRP (silly early adopters…haahaa). Anyway,the car looks solid and should give the Camry, Altima and Sonata some good competition.

Looking over the SUV market, I think prices should drop in the California market because of the insanely high gas prices. If you are a poor schmuck like me who needs the space but doesn’t want to pay over $100 bucks to fill up 3/4 of a tank, go with something more moderate, like a CRV. Not sure I like this month’s numbers on this crossover, though. It needs some Holiday Season cash to sweeten the deal if you ask me.


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.

2013 HONDA CR-V 4WD EX-L AT
MSRP – $29575
Sale Price – $27600
Monthly – $344+ tax
RWG Rating – 86.8

Support my site by getting your “no obligation” quotes from:
TrueCar
CarsDirect.com


2012 HONDA ACCORD COUPE EX-L V6
36 Month – Residual 47% of MSRP – .00046 Base Rate

2013 HONDA ACCORD SEDAN EX-L V6
36 Month – Residual 58% of MSRP – .00155 Base Rate

2012 HONDA CIVIC COUPE EX AT
36 Month – Residual 55% of MSRP – .00053 Base Rate

2012 HONDA CIVIC SEDAN EX AT
36 Month – Residual 58% of MSRP – .00053 Base Rate

2012 HONDA CROSSTOUR 4WD EX-L
36 Month – Residual 49% of MSRP – .00020 Base Rate

2013 HONDA FIT SPORT HATCHBACK AT
36 Month – Residual 61% of MSRP – .00155 Base Rate

2013 HONDA ODYSSEY EX-L AT
36 Month – Residual 55% of MSRP – .00155 Base Rate

2013 HONDA PILOT 4WD EX-L
36 Month – Residual 55% of MSRP – .00155 Base Rate

2013 HONDA CR-V 4WD EX-L AT
36 Month – Residual 60% of MSRP – .00155 Base Rate

2012 HONDA CR-Z EX AT
36 Month – Residual 58% of MSRP – .00155 Base Rate

2012 Honda Lease Rates – September 2012

Published by G

Numbers don’t look as obvious as some of the other brands. Residuals, for most cars, dropped. However, Honda didn’t drop the MFs to compensate, they bumped it up a bit. So what’s the deal? Well, it looks like here is marketing (dealer) cash available on practically every single 2012 left in stock. This is probably the last month I will be posting 2012 numbers so expect 2013s to pop up next month. Taking a look at the Accord, there is $1750 in dealer marketing cash available. I have taken the lowest sold price on the LX Accord, but I am willing to bet there’s a little extra wiggle room due to the dealer cash. Be sure to take advantage of it.

On a more personal note, wife and I took a spin on the 2012 Honda Pilot Touring. We are looking closely at the EX 4WD, which we will more than likely pick up in the Bay Area since So Cal is devoid of 4WD Pilots. However, it looks like the 2013 will have Bluetooth and backup camera as standard equipment (even on the lowly LX), so there is a possibility we hold out for the 2013…Which brings me to our dilemma…what to do with the 2010 Jetta Wolfsburg? Do we buy it and drop the Sonata when the 2013 gets cheap next Fall? Do we go with go all out with the 2012 Touring 4WD? Decisions, decisions…


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 ACCORD SEDAN LX AT
MSRP – $23,070
Sale Price – $19,558
Monthly – $237+ tax
RWG Rating – 94.8

Support my site by getting your “no obligation” quotes from:
TrueCar
CarsDirect.com


2012 HONDA ACCORD COUPE LX-S AT
36 Month – Residual 50% of MSRP – .00046 Base Rate

2012 HONDA ACCORD SEDAN LX AT
36 Month – Residual 52% of MSRP – .00046 Base Rate

2012 HONDA CIVIC COUPE LX AT
36 Month – Residual 55% of MSRP – .00067 Base Rate

2012 HONDA CIVIC SEDAN LX AT
36 Month – Residual 58% of MSRP – .00067 Base Rate

2012 HONDA ACCORD CROSSTOUR 4WD EX-L
36 Month – Residual 49% of MSRP – .00020 Base Rate

2012 HONDA FIT HATCHBACK AT
36 Month – Residual 57% of MSRP – .00175 Base Rate

2012 HONDA ODYSSEY LX AT
36 Month – Residual 54% of MSRP – .00032 Base Rate

2012 HONDA PILOT 4WD LX
36 Month – Residual 52% of MSRP – .00048 Base Rate

2012 HONDA CR-V 4WD LX AT
36 Month – Residual 60% of MSRP – .00161 Base Rate

2012 HONDA CR-Z HATCHBACK AT
36 Month – Residual 59% of MSRP – .00175 Base Rate

2012 HONDA RIDGELINE CREW CAB RT
36 Month – Residual 54% of MSRP – .00175 Base Rate

2012 Honda Lease Rates – August 2012

Published by G

Most cars lease rates stayed the same. CRZ, CRV and Ridgeline got MF reductions. Honda clearance event is going on now, so it is a good time to go out and see what kind of deals you can get.
I recommend that you check out last year’s Honda posts and she when the cutoff of 2011/2012 models happens. That should give you a good indication when the 2013s will arrive. By the way, TrueCar changed their chart (yet again) and the dealer cost doesn’t show anymore. I said it some time ago, but I get the feeling that it’s going to get harder and harder for consumers to negotiate a good price because information is becoming harder to get.


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 ACCORD SEDAN LX AT
MSRP – $23,070
Sale Price – $19,714 (sold at about dealer cost)
Monthly – $216+ tax
RWG Rating – 101.3

Support my site by getting your “no obligation” quotes from:
TrueCar
CarsDirect.com


2012 HONDA ACCORD COUPE LX-S AT
36 Month – Residual 52% of MSRP – .00046 Base Rate

2012 HONDA ACCORD SEDAN LX AT
36 Month – Residual 54% of MSRP – .00046 Base Rate

2012 HONDA CIVIC COUPE LX AT
36 Month – Residual 56% of MSRP – .00077 Base Rate

2012 HONDA CIVIC SEDAN LX AT
36 Month – Residual 59% of MSRP – .00077 Base Rate

2012 HONDA ACCORD CROSSTOUR 4WD EX-L
36 Month – Residual 51% of MSRP – .00060 Base Rate

2012 HONDA FIT HATCHBACK AT
36 Month – Residual 59% of MSRP – .00175 Base Rate

2012 HONDA ODYSSEY LX AT
36 Month – Residual 56% of MSRP – .00063 Base Rate

2012 HONDA PILOT 4WD LX
36 Month – Residual 53% of MSRP – .00039 Base Rate

2012 HONDA CR-V 4WD LX AT
36 Month – Residual 62% of MSRP – .00175 Base Rate

2012 HONDA CR-Z HATCHBACK AT
36 Month – Residual 60% of MSRP – .00175 Base Rate

2012 HONDA RIDGELINE CREW CAB RT
36 Month – Residual 54% of MSRP – .00175 Base Rate

2012 Honda Lease Rates – July 2012

Published by G

Pretty much the expected drop in residual and mf. Nothing out of the norm. The sale prices on the Accords are coming at or near dealer cost, which is really good. It’s Accord clearance time and it shows. I see tons of people getting new Accords nowadays and I don’t blame them. If you are shopping for a family sedan that’s refined and reliable, this is the one to get.


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 ACCORD SEDAN LX AT
MSRP – $23,070
Sale Price – $19,714 (sold at about dealer cost)
Monthly – $216+ tax
RWG Rating – 101.3

Support my site by getting your “no obligation” quotes from:
TrueCar
CarsDirect.com


2012 HONDA ACCORD COUPE LX-S AT
36 Month – Residual 52% of MSRP – .00046 Base Rate

2012 HONDA ACCORD SEDAN LX AT
36 Month – Residual 54% of MSRP – .00046 Base Rate

2012 HONDA CIVIC COUPE LX AT
36 Month – Residual 56% of MSRP – .00077 Base Rate

2012 HONDA CIVIC SEDAN LX AT
36 Month – Residual 59% of MSRP – .00077 Base Rate

2012 HONDA ACCORD CROSSTOUR 4WD EX-L
36 Month – Residual 51% of MSRP – .00060 Base Rate

2012 HONDA FIT HATCHBACK AT
36 Month – Residual 59% of MSRP – .00185 Base Rate

2012 HONDA ODYSSEY LX AT
36 Month – Residual 56% of MSRP – .00063 Base Rate

2012 HONDA PILOT 4WD LX
36 Month – Residual 53% of MSRP – .00039 Base Rate

2012 HONDA CR-V 4WD LX AT
36 Month – Residual 62% of MSRP – .00180 Base Rate

2012 HONDA CR-Z HATCHBACK AT
36 Month – Residual 60% of MSRP – .00185 Base Rate

2012 HONDA RIDGELINE CREW CAB RT
36 Month – Residual 54% of MSRP – .00185 Base Rate

2012 Honda Lease Rates – June 2012

Published by G

Not a lot of changes with Honda lease rates this month. Everything look about the same as last month. The Accord is getting a refresh soon (Hyundai, Toyota, Nissan have already done so), so expect the current Accord to be the last of it’s generation. This typically means good deals can be had through the model year (i.e. $1250 dealer cash). Below, I did a very “conservative” estimate of Invoice – $1250 dealer cash. My recommendation is to make an initial offer that is lower than my estimate and go no further than invoice – dealer cash.


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 ACCORD SEDAN LX AT
MSRP – $23,070
Sale Price – $20,159
Monthly – $229+ tax
RWG Rating – 97.2

Support my site by getting your “no obligation” quotes from:
TrueCar
CarsDirect.com


2012 HONDA ACCORD COUPE LX-S AT
36 Month – Residual 53% of MSRP – .00065 Base Rate

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

2012 HONDA CIVIC COUPE LX AT
36 Month – Residual 56% of MSRP – .00077 Base Rate

2012 HONDA CIVIC SEDAN LX AT
36 Month – Residual 59% of MSRP – .00077 Base Rate

2012 HONDA ACCORD CROSSTOUR 2WD EX I4
36 Month – Residual 55% of MSRP – .00084 Base Rate

2012 HONDA ACCORD CROSSTOUR 4WD EX-L
36 Month – Residual 52% of MSRP – .00084 Base Rate

2012 HONDA FIT HATCHBACK AT
36 Month – Residual 59% of MSRP – .00185 Base Rate

2012 HONDA ODYSSEY LX AT
36 Month – Residual 57% of MSRP – .00102 Base Rate

2012 HONDA PILOT 4WD LX
36 Month – Residual 54% of MSRP – .00039 Base Rate

2012 HONDA CR-V 4WD LX AT
36 Month – Residual 63% of MSRP – .00185 Base Rate

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

2012 HONDA RIDGELINE CREW CAB RT
36 Month – Residual 54% of MSRP – .00185 Base Rate