[Hot Tabasco]

I'm on my second Honda since 1985 and am ready to get a new one but this time, due to my age and limited savings, I need to go with a lease.

I contacted my local Honda dealer via email over the weekend and asked for a quote on an Accord EX-L coupe, with a MSRP of $28,785.00 according to the Honda pricing website.

This was a 3 year lease, 12k per year with nothing down. The sales manager responded with a quote of $389.59 per month.

So here's the kicker, I went to several internet sites that offered lease calculations and based on the MSRP, months of lease, sales tax included, the highest payment I came up with was approx. $221.00 per month.

So what is the dealership factoring in that would create a $160.00 per month discrepancy in the monthly lease payment?

I appreciate any good advice and will take all expected others with a grain of salt...........Thank you

[E. Pluribus Unum]

So what is the dealership factoring in that would create a $160.00 per month discrepancy in the monthly lease payment?

How stupid they think you are.

[listenhillary]

Try other dealers.

[kenavi]

Your estimated lease payment from "internet sites" is way too low.

For example, the trade-in value of an EX-L coupe with 36,000 miles (2010 model) has a Blue Book trade-in value of around $15,500. That's over $13,000 of depreciation that the lease payments would have to cover on a 3 yr.-36k lease.

$13,000+ divided by 36 months is $369 a month, then the lease has to factor in the time value of money and a reserve for bad debts.

[KarlInOhio]

I contacted my local Honda dealer via email over the weekend and asked for a quote on an Accord EX-L coupe, with a MSRP of $28,785.00 according to the Honda pricing website.

...

So here's the kicker, I went to several internet sites that offered lease calculations and based on the MSRP, months of lease, sales tax included, the highest payment I came up with was approx. $221.00 per month.

I don't see how you can get a $221 per month lease on that car. Even if you get 0% interest on it, they are essentially saying that there is only a difference of $7,956 between the new car and the car after three years. A 2010 Accord EX-L with 36,000 miles on Kelley Blue Book was listed at $15,572 for an excellent trade in ($17,462 for private sale). AOL listed its MSRP at $26,080.