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2014 Honda Civic Lease Questions

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  • MichaellMichaell ColoradoPosts: 5,545

    @dfsa said: umm...i thought LX was the trim. no? Also any comment on the 10k/year vs standard 12? Also he mentioned 500 damage forgiveness and no gap insurance

    another thing is that I might be moving out of state in a few month(nj. anything i need to worry about as far as taxes/paperwork etc?

    For Honda, 15K is the standard miles per year, then the residual is adjusted up 2% for 12K leases of 36 months. Honda doesn't really offer a 10K program, but if they did, the residual would be 3% higher than the 15K number.

    Lack of gap insurance is a bit of an issue ... if the car is totaled for some reason, gap insurance would cover the difference between the payoff and the current value. Without it, you are responsible.

    I'm not well versed on the details of tax implications of moving to another state. Are you moving into or out of NJ? I do know that in NJ, the sales tax for leases is calculated up front and either paid by the lessee or added into the net cap cost.

    I still think this is a very solid deal for a good car.

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  • smartin104smartin104 Posts: 16

    hi there. looking for the RV and MF for the 2014 Civic Coupe EX-L w/ Navi. for 36 months for 10k/12k/15k a year..northern NJ

    TIA

  • MichaellMichaell ColoradoPosts: 5,545

    @smartin104 said: hi there. looking for the RV and MF for the 2014 Civic Coupe EX-L w/ Navi. for 36 months for 10k/12k/15k a year..northern NJ

    TIA

    50% for 36/15. Add 2% for 12K. No 10K numbers exist for Honda leases.

    .00030 and $800 lease cash this month.

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  • m2126m2126 Posts: 3
    edited August 9
    what is the RV and MF on a 2014 Si Sedan without Nav for 36MO 12K and 15K in CA. Ty
  • tazo82tazo82 Posts: 1
    edited August 9

    Can I please get the RV and MF for the 2014 Civic LX. It's going to be for 12k for 36 months in NJ. Thank you in advance.

  • MichaellMichaell ColoradoPosts: 5,545

    @m2126 said: what is the RV and MF on a 2014 Si Sedan without Nav for 36MO 12K and 15K in CA. Ty

    36/15 - 58%. Add 2% for 12K

    MF is .00030 in Southern CA and .00079 in Northern CA.

    $800 lease cash.

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  • MichaellMichaell ColoradoPosts: 5,545

    @tazo82 said: Can I please get the RV and MF for the 2014 Civic LX. It's going to be for 12k for 36 months in NJ. Thank you in advance.

    .00030 and $800 lease cash. 59% RV.

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  • kbclutchkbclutch Posts: 3

    Whats the best deal I can get on a Civic LX in Central Illinois?

  • MichaellMichaell ColoradoPosts: 5,545

    @kbclutch said: Whats the best deal I can get on a Civic LX in Central Illinois?

    You should check the Civic Prices Paid forum, and use the shopping tools at the top of the page to get a target price.

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  • caranthoocaranthoo Posts: 3

    Does this sound like a good deal? I am in NC. 2014 Civic SI (no navigation), MSRP $23,780 Cap $22,059, Residual $14,268 and MF 0.00079. 3 yr 36k lease. Monthly $253. Upfront $739 (includes 1st month and fees). Any help is appreciated

  • MichaellMichaell ColoradoPosts: 5,545

    @caranthoo said: Does this sound like a good deal? I am in NC. 2014 Civic SI (no navigation), MSRP $23,780 Cap $22,059, Residual $14,268 and MF 0.00079. 3 yr 36k lease. Monthly $253. Upfront $739 (includes 1st month and fees). Any help is appreciated

    I get $245.11 pre-tax with your numbers.

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  • caranthoocaranthoo Posts: 3

    Thanks Michaell but is it a good deal?

  • MichaellMichaell ColoradoPosts: 5,545

    @caranthoo said: Thanks Michaell but is it a good deal?

    Base MF, so that's good. Only leverage you have now is on the selling price - and, I'm not in the market, so don't know what a good price looks like.

    Check the "Civic Prices Paid" forum to see what the experts over there (especially @brian125) have to say.

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  • First time looking at a lease - trying to learn this whole process.

    From a Columbus Ohio dealer (internet department) on 8/13/14:

    Civic LX Sedan Cap Cost 17,231; MF .0002; Residual is 11,788.20.

    Civic EX Sedan Cap Cost 18,990; MF .0002; Residual is 12,909.20.

    Civic EXL Sedan Cap Cost 20,517; MF is .0002; Residual is 13,412.10.

    Are these good terms?

  • MichaellMichaell ColoradoPosts: 5,545

    @buckeye783 said: First time looking at a lease - trying to learn this whole process.

    From a Columbus Ohio dealer (internet department) on 8/13/14:

    Civic LX Sedan Cap Cost 17,231; MF .0002; Residual is 11,788.20.

    Civic EX Sedan Cap Cost 18,990; MF .0002; Residual is 12,909.20.

    Civic EXL Sedan Cap Cost 20,517; MF is .0002; Residual is 13,412.10.

    Are these good terms?

    MF is the base rate; dealers cannot adjust the residual.

    The next step is for you to secure the best selling price in order to get a good monthly payment.

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  • Could I please have MF and residual for a 2014 Civic Si Sedan (without NAV) in KS, and in MO? 36 mo/12K. I live in the KC area, on the KS side, but might be able to do MO if it is a better deal. Dealer told me .00071, but from reading the posts here, it looks like some states are .00030. Price given was $23,750 with the pro pack appearance package (all weather mats, mudflaps, wheel locks, moonroof visor). They quoted a 60% residual.

    ((Part of my concern is that I have negative equity in a KIA OPTIMA lease. It seems like a bad financial decision to bundle that into a new lease, so I guess I am out the money on that one. Any ideas on this travesty are appreciated, even referring me to additional reference materials.))

  • MichaellMichaell ColoradoPosts: 5,545

    @sunflowercivic said: Could I please have MF and residual for a 2014 Civic Si Sedan (without NAV) in KS, and in MO? 36 mo/12K. I live in the KC area, on the KS side, but might be able to do MO if it is a better deal. Dealer told me .00071, but from reading the posts here, it looks like some states are .00030. Price given was $23,750 with the pro pack appearance package (all weather mats, mudflaps, wheel locks, moonroof visor). They quoted a 60% residual.

    ((Part of my concern is that I have negative equity in a KIA OPTIMA lease. It seems like a bad financial decision to bundle that into a new lease, so I guess I am out the money on that one. Any ideas on this travesty are appreciated, even referring me to additional reference materials.))

    60% residual and .00079 MF for both KS and MO. $800 lease cash.

    Regarding your existing lease, the best thing is to wait until the lease is up before going into a new car. Otherwise, you will be responsible for the negative equity, either out of pocket or by rolling it into the new lease.

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    • 60% residual and .00079 MF for both KS and MO. $800 lease cash.
    • Regarding your existing lease, the best thing is to wait until the lease is up before going into a new car. Otherwise, you will be responsible for the negative equity, either out of pocket or by rolling it into the new lease.

    Michael, if the MF is from Honda and is .00079 for KS on a Civic Si Sedan, how can a KS dealer offer .00071? I know they can pad it for profit, but I did not know they could lower it. They tried to add the negative equity in and quoted me a payment of $472. For a Civic. I refrained from laughing and took the quote sheet, and walked away.

    And regarding the lease, if I still owe a difference over the residual when I trade it in, then what happens? I calculate I will still be $1,350 short of the residual when I trade it in. I have a payment of $335, with the lease ending in April of 2015. The residual is listed as 15,904. My current payout is $19,265; 6 more payments puts it at $17,255 in April. Does this mean I have to pay the difference?

  • MichaellMichaell ColoradoPosts: 5,545

    @sunflowercivic said: * 60% residual and .00079 MF for both KS and MO. $800 lease cash. * * Regarding your existing lease, the best thing is to wait until the lease is up before going into a new car. Otherwise, you will be responsible for the negative equity, either out of pocket or by rolling it into the new lease. *


    Michael, if the MF is from Honda and is .00079 for KS on a Civic Si Sedan, how can a KS dealer offer .00071? I know they can pad it for profit, but I did not know they could lower it. They tried to add the negative equity in and quoted me a payment of $472. For a Civic. I refrained from laughing and took the quote sheet, and walked away.

    And regarding the lease, if I still owe a difference over the residual when I trade it in, then what happens? I calculate I will still be $1,350 short of the residual when I trade it in. I have a payment of $335, with the lease ending in April of 2015. The residual is listed as 15,904. My current payout is $19,265; 6 more payments puts it at $17,255 in April. Does this mean I have to pay the difference?

    The dealer may be using a finance company other than HFS ... check with them. Different companies have different MF and residuals.

    If you wait until the end of the lease, you can return it and walk away with no obligations other than excess mileage. The residual is a best guess by the finance company - sometimes they guess high (meaning the car is worth less than what they thought) or guess low (meaning the car is worth more than what they thought). The residual is the value you can buy the car for at the end of the lease. If the car is worth less than the residual, you don't have to buy it. If the car is worth more, you can buy it and trade it in and get the equity.

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  • *The dealer may be using a finance company other than HFS ... check with them. Different companies have different MF and residuals.

    If you wait until the end of the lease, you can return it and walk away with no obligations other than excess mileage. The residual is a best guess by the finance company - sometimes they guess high (meaning the car is worth less than what they thought) or guess low (meaning the car is worth more than what they thought). The residual is the value you can buy the car for at the end of the lease. If the car is worth less than the residual, you don't have to buy it. If the car is worth more, you can buy it and trade it in and get the equity.


    Michael, Thank you for this information regarding the lease. It is very helpful.

    I heard back from the Honda dealership: it is Honda Finance. The dealer is offering 2014 Civic SI (without NAV) for $23,000, which includes $800 dealer cash; MF .00071; payment 310.38 (tax rate is 7.38). _ Is this a good deal?_ I would have $856.58 due at signing; the recent college grad program would cover $500, so I would put down $356.88 which includes the first month's payment. When I calculate it, I get $281.68 + $20.79 for a total payment of $302.47. I saw lots of people on this forum get their Civic Si's for considerably less, with payments in the low-mid $200's.

  • MichaellMichaell ColoradoPosts: 5,545

    @sunflowercivic said: *The dealer may be using a finance company other than HFS ... check with them. Different companies have different MF and residuals.

    If you wait until the end of the lease, you can return it and walk away with no obligations other than excess mileage. The residual is a best guess by the finance company - sometimes they guess high (meaning the car is worth less than what they thought) or guess low (meaning the car is worth more than what they thought). The residual is the value you can buy the car for at the end of the lease. If the car is worth less than the residual, you don't have to buy it. If the car is worth more, you can buy it and trade it in and get the equity.


    Michael, Thank you for this information regarding the lease. It is very helpful.

    I heard back from the Honda dealership: it is Honda Finance. The dealer is offering 2014 Civic SI (without NAV) for $23,000, which includes $800 dealer cash; MF .00071; payment 310.38 (tax rate is 7.38). _ Is this a good deal?_ I would have $856.58 due at signing; the recent college grad program would cover $500, so I would put down $356.88 which includes the first month's payment. When I calculate it, I get $281.68 + $20.79 for a total payment of $302.47. I saw lots of people on this forum get their Civic Si's for considerably less, with payments in the low-mid $200's.

    Is the $23,000 the selling price? If so, what is the MSRP? We need both numbers to model a payment.

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  • Michael, it looks like the MSRP is $24,708.95 and the selling price is $23,000. I hope this gives you the information you need.

    The dealer sent the following information: "We went from the TrueCar price of $23,750.95 including your accessories but not including window tint to a price of $23,000 including all the accessories AND window tint. This is a function of reducing the sale price with that $800 Lease cash whereas you see the Grad Program $500 posted as cash down."

  • MichaellMichaell ColoradoPosts: 5,545

    @sunflowercivic said: Michael, it looks like the MSRP is $24,708.95 and the selling price is $23,000. I hope this gives you the information you need.

    The dealer sent the following information: "We went from the TrueCar price of $23,750.95 including your accessories but not including window tint to a price of $23,000 including all the accessories AND window tint. This is a function of reducing the sale price with that $800 Lease cash whereas you see the Grad Program $500 posted as cash down."

    Using $24,708.95 as the MSRP and $23K as the selling price with 60% residual and .00071 MF, I get a pre-tax payment of $253.93.

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  • jobryantjobryant Posts: 2
    Can someone please give me the RV and MF for the 2014 Civic Coupe EX w/out Navi and the 2014 Si w/out navi? 36 months for 12k miles. I'm in Phoenix, AZ. Thanks!
    Jeff
  • MichaellMichaell ColoradoPosts: 5,545

    @jobryant said: Can someone please give me the RV and MF for the 2014 Civic Coupe EX w/out Navi and the 2014 Si w/out navi? 36 months for 12k miles. I'm in Phoenix, AZ. Thanks! Jeff

    EX Coupe - 56%

    Si Coupe - 57%

    .00030 and $800 lease cash.

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  • jobryantjobryant Posts: 2

    @Michaell said: .00030 and $800 lease cash.

    Thanks Michaell, so I ran into this site when doing research: http://www.weymouthhonda.com/lease/?&code=FG4A5EJW&year=2014&leasetype=2

    It shows a 'Sign and Drive' lease has a MF of .00011. This is in Massachusetts, but is there a similar deal in AZ? Is there a better MF in Arizona if I do a different type of lease?

  • MichaellMichaell ColoradoPosts: 5,545

    @jobryant said: It shows a 'Sign and Drive' lease has a MF of .00011. This is in Massachusetts, but is there a similar deal in AZ? Is there a better MF in Arizona if I do a different type of lease?

    This could be through a different finance company. Your local dealer may have similar options, but we wouldn't be able to confirm those numbers.

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  • kartdadkartdad Posts: 34

    Hello, Think I understand the lease now, but one question. Is the residual value based upon the MSRP or the actual price negotiated (cap cost)? That would make a big difference in payment on a lease.

    When pricing out a 2014 Civic Si sedan lease, if I can negotiate down to $20k including the $800 lease cash, and using the quoted RV as 60% of MSRP of $23,780, and being in the state of Washington, what is our MF? Is it .0003 or the .00079? if I use the .00079 MF, I get a payment of $168 a month including Wa. state taxes. Does that sound about right? That seems SUPER low to me!

    Residual is over $14k! So negotiating to $20k would be awesome! I doubt they will drop the price by $3k, but you never know! End of the month, slow Si sales....want to get it moved.....but if the residual is based on the cap cost, it doesn't look as attractive.

    Any comments appreciated!

  • MichaellMichaell ColoradoPosts: 5,545

    @kartdad said: Hello, Think I understand the lease now, but one question. Is the residual value based upon the MSRP or the actual price negotiated (cap cost)? That would make a big difference in payment on a lease.

    When pricing out a 2014 Civic Si sedan lease, if I can negotiate down to $20k including the $800 lease cash, and using the quoted RV as 60% of MSRP of $23,780, and being in the state of Washington, what is our MF? Is it .0003 or the .00079? if I use the .00079 MF, I get a payment of $168 a month including Wa. state taxes. Does that sound about right? That seems SUPER low to me!

    Residual is over $14k! So negotiating to $20k would be awesome! I doubt they will drop the price by $3k, but you never know! End of the month, slow Si sales....want to get it moved.....but if the residual is based on the cap cost, it doesn't look as attractive.

    Any comments appreciated!

    Civic MF is .00079 for WA. Residual is based on MSRP.

    With your MSRP and selling price and 60% RV, I get a pre-tax payment of $186.29/mo.

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  • Zoder1Zoder1 Posts: 13

    What is the RV and MF for a 36mo/12k lease in Florida for a Civic Sedan EX-L w/ Nav and also w/o Nav? Thank you.

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