latest automotive news, best new and used cars, find a new car c1e94_2018-Honda-Accord-2.0T-Touring-610x407 Accord Sales Are Declining, so Honda Figures You Might Like a Cheaper Lease Honda

There’s no danger of discontinuation, but customers aren’t beating a path to the 2018 Honda Accord’s door in the kind of numbers the automaker hoped for. Sales of the revamped-for-2018 midsize sedan fell 9.9 percent in the U.S. last month, with volume over the first three months of 2018 down 11.8 percent. That’s a problem.

What to do? If you’re Honda, the time-honored tradition of piling cash on the hood doesn’t seem all that attractive. Better to make those in the mood for a lease happy.

According to CarsDirect, the month of April brings a better deal for drivers who like getting into a new car every three years. By lowering the model’s money factor and slashing due-at-signing payments, Honda allows Accord aficionados to drive the sedan of their dreams for considerably less cash.

latest automotive news, best new and used cars, find a new car c1e94_2018-Honda-Accord-sport-610x407 Accord Sales Are Declining, so Honda Figures You Might Like a Cheaper Lease Honda

Starting on April 3rd, Honda rejigged the car’s money factor to the equivalent of 3 percent APR, down from March’s 5.5 percent, thus lowering monthly payments. That means a 2018 Accord LX, equipped with the 1.5-liter turbocharged four-cylinder, now leases for $249 a month for 36 months with $800 less due at signing. This works out to $22 less a month over the term of the lease.

Move up to a 1.5T EX and the amount due at signing drops $1,100. That trim now leases for $289 over a 36-month term, saving a customer $31 each month. The 2.0T Sport model sees a reduction in both payment and down payment, however — Honda lists the monthly payment at $10 less than before, with cash due at signing falling $900. While a better deal for lessees, there’s lower payments to be found with many of the Accord’s competitors, including the Toyota Camry, Mazda 6, and Ford Fusion.

It’s not just lessees getting a break in April. A new financing promotion means all Accord models are eligible for 1.9 percent APR for 36 months, or 2.9 percent if you want to stretch it to 60 months.

On a year-over-year basis, Accord sales have fallen for the last five months. In comparison, the Accord’s main challenger, the Camry, has done a good job of maintaining sales volume in the face of an overall segment decline. You can’t, however, get a Camry with a stick shift.

[Images: Honda]

Article source: http://www.thetruthaboutcars.com/2018/04/accord-sales-declining-honda-figures-might-like-new-lease/

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