2019 Honda Accord Sport (1.5L) Lease Suggestions (Ontario, Canada)
Dealer Price (Invoice) Average paid by people MSRP
Base 27984 29456 30090
Fees 1795 1795 1795
Taxes 3871 4063 4145
Total 33650 35314 36030
The numbers for a 24000km/year lease that I got from Unhaggle (Prices are with taxes) (20000km/year leases are not that lower):
Term APR Dealer Price (Invoice) Average paid by people MSRP
3 years 0.99% 465 511 532
4 years 1.99% 423 459 474
The price that I got from the honda.ca website are as follows:
MSRP: 31490 (1400 higher than unhaggle)
Total w/taxes: 37601
3 year/24,000km lease (w/taxes): 543/month
4 year/24,000km lease (w/taxes): 487/Month
3 year/24,000km residual: 16689 (53%)
4 year/24,000km residual: 14485 (45%)
Here are my quesions:
Invoice price negotiation: From unhaggle data, it looks like average people paid about 5% higher than dealer invoice. How far do you think this can be negotiated?
Money factor negotiation: Although the lease rates @ .99% and 1.99% are quite low, I saw on unhaggle that there is a loyalty rebate of -1% on leases. I have a 2008 Civic, so is it likely that this can be negotiated too (0% for 3 years, 1% for 4 years)? Turns out I won't qualify for this since I don't have a current finance/lease deal with Honda.
Lease term: By choosing to lease for 4 years, I would pay around 3600 (unhaggle) ~ 3800 (honda.ca) more for the 4th year. But if we look at depreciation, the 4th year depreciation difference is 2204.3. So, if I go for 4th year of lease, I'll pay around 1400-1600 more than the depreciation. So, is it wiser to lease it for 3 years?
Warranty: Honda gives 3 years/60,000km standard warranty. The 4-year flexible warranty is $868, so I think I'll go for it if I go for a 4 year lease since if I buy out my car, I have the option to extend the warranty. On the other hand, the lease-guard protection is $898, so if I don't buy out the car, then I am protected from extra charges. Any suggestions whether I should go for both or just the warranty?
Other fees: There might be other fees like Gap insurance (don't know if honda includes it), document fees etc. Any suggestions whether these can be negotiated?