Lease Special Showdown: Civic Lease Vs Accord Lease
The Honda Civic and Honda Accord are some of the best leasing economy cars in the United States. This month, the Honda Accord Lease is insanely low! The Honda Accord is about $3000 more expensive of a car than the Honda Civic, but doe to very big discounts and a low money factor, the Honda Accord is leasing for $10 LESS per than a Honda Civic. This makes the Accord an incredible bang for your buck if you are looking to lease a mid-sized fuel efficient car. Check out the details below…
Round 1: The Battle of Residual Values
Honda Accord Residual Value: 56%
For the month of May, if you lease a Honda Accord for 36 months at 12,000 miles per year, the residual value is set at 56%. This means the vehicle retains 56% of its value after you’ve used it for 3 years and drove it 36,000 miles. The higher the residual value on the vehicle, the lower your lease payments.
Honda Civic Residual Value: 61%
The Civic gets a 5% higher residual value than the Accord, coming in at 61% for 36 months/12,000 miles per year. This means the Civic has a 5 point better resale value than the Accord, which is always a good thing. But residual value is only PART of the equation.
The Civic is the clear winner when it comes to resale value, coming in at 5% HIGHER than the Accord. But that’s only half the story. Lets’ go to Round 2!
Round 2: Attack of the Money Factor
Honda Accord Money Factor: 0.00059 (1.416%)
The lower the money factor, the less you pay in interest, and the lower the monthly payment on your Honda Lease. The Accord gets a 0.00059 money factor this month which is very low and helps make up the difference in residual value. If we convert this money factor to a interest rate, it’s only 1.416%! Not bad at all.
Honda Civic money Factor: 0.0008 (1.92%)
The Civic get a higher money factory for May, coming in at 0.0008 which is roughly a 1.92% interest rate. That’s about half a percent higher than the Civics 1.4165.
So the Accord takes the cake this round with a lower money factor than the Civic, closing in the gap. Check out Round 3 for the conclusion.
ROUND 3: The Discount Duel
Honda Accord Discount: $5,748
The Accord lease deal gets some REALLY BIG rebates and discounts this month. The rebate is only $500, but we have successfully negotiated another $5,248 off the MSRP of an LX model for the month of May. For example, we had an Accord LX model with an MSRP of $23,990 and were able to get the vehicle down to $18,742 PLUS the $500 rebate, giving us about a $5,248 discount on a brand new Accord LX!
Honda Civic Discount: $2,393
The Honda Civic Lease Deal does not have any rebates for the month of May, but it does get roughly a $2,393 discount from off the MSRP. For example, we had a 2017 Civic LX with an MSRP of $20,275 and were able to lease the Civic for $17882. A substantial discount for a brand new $20k car!
FINAL ROUND: THE PAYMENT VERDICT!
Honda Accord Lease Payment: $179*
Honda Civic Lease Payment: $189*
And there it is! Although the Honda Accord is roughly $3000 more expensive than the Civic, is a mid-sized car instead of a compact, and has more standard equipment, the lease payment comes down to $10 LESS per month than the Honda Civic. How is this possible? Based on the residual value, money factor, and the amount of discounts and incentives the vehicle receives, there are times where some cars make for an astonishing lease deal. The Honda Accord Lease deal for May 2017 happens to be one of those times where everything comes together perfectly to make for a very low lease payment.
AND THE WINNER OF THE ACCORD LEASE VS CIVIC LEASE IS THE 2017 HONDA ACCORD!
|HONDA CIVIC LX||HONDA ACCORD LX|
For more information on a new Honda Accord Lease Special or new Civic Lease Special, fill out the form below or call us at 877-788-3460
*DISCLOSURE: All pricing is subject to change without notice. All pricing is based on credit approval and not everyone with qualify for all rebates, incentives, promotions, sales, or discounts. All offers, incentives, special promotions, and availability is subject to change without notice even though they are valid at the time of the listing. Call for most recent offers and programs. All rates, residuals, offers, and programs may change without notice due predicating adjustments to monthly programs by our participating dealers, manufacturers, affiliated, and none affiliated lending institutions. All advertisements do not include tax, license, registration, title. MSRP’s, discounts, selling prices, down payments, and monthly payments are subject to change without notice and are listed as examples only. Vehicle photos do not reflect the actual vehicle advertised, they are used as a reference to the make and model but may not reflect the different trim levels. We are not responsible for typos.
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