2018 Honda Accord Lease Price Cut as Sales Struggle
Last month it was reported the all-new 2018 Honda Accord was struggling to sell, and now the automaker is doing something about it.
According to CarsDirect, Honda is reducing national lease prices on the 2018 Accord by up to $1,100 in hopes of increasing sales. The Japanese automaker lowered the money factory on the 2018 Accord lease to 0.00128, which is about an APR of three percent. Last month, the money factory was 0.00230, about the equivalent of a 5.5-percent APR. The lower money factory has resulted in cheaper monthly payments and the due at signing amounts have dropped by up to $1,100.
SEE ALSO: 2018 Honda Accord Struggles to Find Buyers
The 2018 Honda Accord 1.5T EX for example, now has $2,699 due at signing, down from $3,799. The monthly payment now starts at $289 per month for 36 months, reducing its effective cost from $395 per month to $364. The cheaper 1.5T LX is now listed at $249 a month for 36 months with $2,399 due at signing. That’s a reduction of $800 due at signing and the effective lease cost as dropped $22 from $338 to $316.
The 2.0T Sport model now lists its monthly price at $299, which is a $10 drop. The amount due at signing has been reduced by $900 to $3,099.
Still, in some areas, the Accord is noticeably more expensive than its competitors. In San Francisco, CarsDirect reports the Accord LX is $61 a month more expensive to lease than a 2018 Toyota Camry SE – $316 a month versus $255 a month.
[Source: CarsDirect]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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