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.
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.
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