Lease Review: 2018 Honda Accord 1.5T & 2.0T In March

By

Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

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, Senior Pricing Analyst - March 9, 2018

The 2018 Accord has been on sale since late last year, but thus far there have been no national lease promotions. However, last Friday, Honda unveiled its first leases starting at $249/month for the 1.5T and $309/month for the 2.0T.

Unfortunately, our analysis reveals the 10th generation Accord to be an incredibly expensive car to lease, in some cases costing more than vehicles that are $9,665 more expensive on paper.

Here's what you need to know.

Accord 1.5T: Way Pricier Than A Camry

This month, you can lease the 2018 Accord 1.5T LX from $249 for 36 months with $3,199 due at signing. This includes an allowance of 12,000 miles per year and equates to an effective cost of $338/month.

But is that a good deal?

For a car with an MSRP of $24,460, we consider this a pretty poor value. That's up to $63 (per month!) more expensive than what you'll see on the 2018 Camry in places like Southern California.

The advertised deal on the Camry LE is $219 for 36 months with $1,999 at signing, which translates to an effective cost of $275/month. The mileage limit is the same, but the car benefits from $1,000 in lease discounts.

In contrast, the Accord isn't eligible for any sort of factory lease cash to help drive down the price. As a result, the difference in effective cost will cost you around $2,268 more over the course of the lease.

Digging a bit deeper, an analysis of dealer bulletins reveals the Accord's residual value is quite high at 60%, but the money factor is 0.00230, which is basically a 5.5% interest rate. The Camry's residual is 55% but it has a money factor of 0.00001, which is essentially 0% APR.

For $24/month less than the Accord LX, you could actually lease a loaded Civic 1.5T EX-L, which has nearly the same MSRP but has an effective cost of $314/month. It's listed at $239 for 36 months with $2,699 at signing.

Feel like something a bit spicier?

Accord 2.0T: More Expensive Than A Jaguar

The Accord 2.0T, which features a more powerful 252 hp engine, replaces the old Accord V6 and offers a new degree of thrill behind the wheel. It's listed at $309 for 36 months with $3,999 at signing.

However, with an effective cost of $420/month, we consider it a disappointing value given the vehicle's MSRP of $31,200. Here's a look at some vehicles you could lease for less.

For $20 less, you could actually lease a $38,610 Jaguar XE 25t at $289 for 36 months with $3,995 at signing, an effective cost of $400/month.

For $14 less, you could lease a $39,945 Infiniti Q50 3.0t LUXE at $309 for 39 months with $3,799 at signing, which equates to an effective cost of $406/month.

For $2 less, you could lease a $40,865 Acura TLX V6 with Tech Package at $349 for 36 months with $2,499 at signing, an effective cost of $418/month.

Although reviews have shown the Accord to be an outstanding vehicle, getting behind the wheel of one will command a substantial premium if you're looking to lease.

Learn more about the 2018 Accord »

, Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website