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38,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

38,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

1I'm trying to lease a new 08 civic:

I wish to get a Honda Civic Coupe Ex Manual, They quoted me at msrp at $19435 $2000 down and monthly payments at $313. Is this a good deal? I felt that was overpriced so I walked away. Btw I'm in northern california. My credit score is in the high 750+ I wanted them to lower the price but they told me price was not negotiable since their inventory is running low. Is this true on civics?

11838,515Also, you mentioned that you were asked for a $2,000 down payment on this deal. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled. At lease signing, you should only pay your car's first month's payment, Honda Finance's $595 acquisition fee, and a security deposit equivalent to your car's monthly payment rounded up to the nearest $25 increment. You can even have your security deposit waived in exchange for a .00010 money factor increase and roll the acquisition fee into your car's cap cost if you want.

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Prices Paid: Buying & Leasing Experiences Forum

10910938,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

109430Edited: 36/12K on an LX/EX Sedan, auto, no leather or navi

1he's giving me the car at 1187 down (thats first month,dmv,bank fee)...monthly paymnets are $324/12000 miles/36mths...2yrs free oil change and the honda care package (24hr roadside assistance and whatever comes with that). and some $1500 waiver i get if the has any damages up to 1500..he also spread the taxes in the payments.....he said they money factor is like .0038(9.12%)

playing around on the LEASE CALCULATOR...the residual value comes up to be like 13500 or something like that. anyways i would like to know if am geting a good deal before i sign up the paper work?????

how would anyone credit affect this deal if your credit is not so great????thanks for your time.

41769Can you provide the following info on a

2009 Civic Hybrid w/o Nav:Lease in New Jersey

36 Months

15k miles year

What is the residual?

What is the MF?

What is the invoice (not listed on edmunds as of this posting)?

Confirm that security deposit not required?

Thank you.

38,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

38,515The numbers for an otherwise identical lease of a base '08 Civic EX Sedan are .00270 and 63%.

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Prices Paid: Buying & Leasing Experiences Forum

38,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

38,515Honda Finance charges a security deposit, equivalent to vehicles' monthly payments rounded up to the nearest $25 increment, on every vehicle that it leases. It will waive its security deposit requirement in exchange for an increase of .00010 in the money factor that is used to calculate your monthly payment.

The dealer invoice price of this model is now available here at Edmunds. Here's a link to the page:

http://www.edmunds.com/new/2009/honda/civic/101061157/prices.html

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Prices Paid: Buying & Leasing Experiences Forum

7623Is this a good deal

3Honda civic sedan lx 36 months for 12k a year. The dealer asked me what i was willing to pay i went lower than any other quote i received and he came back and basically agreed. Price 1000 initial payment 239 included all fees taxes. I now feel like maybe i didn't go low enough. Is that a good deal?

I also cant get a straight answer on how much more a month i should expect to pay for 15000 miles a year instead of 12k. any thoughts?

I was offered from another dealer 1500 initial payment 227+taxes for 36 months 12k on the Lx coupe... is that a good price.

I feel like i can negotiate further but can any one share their thoughts on a good deal and possibly a price i should shoot for...it would be much appreciated.

Thank you

38,515Car_manHost

Prices Paid: Buying & Leasing Experiences Forum

38,515Once you have arrived at a selling price that you are happy with, have the dealer that is quoting it calculate your lease payment using Honda Finance's buy rate lease money factor. Its current buy rate for "Super Preferred" tier customers who lease an '09 Civic for 42 months is .00255.

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Prices Paid: Buying & Leasing Experiences Forum

232338,515Once you have a selling price that you are comfortable with, have the dealer calculate its monthly payment using Honda Finance's buy rate lease money factor, which is currently .00270 for "Super Preferred" tier customers who pay a security deposit at lease signing.

This is the best way to assure that you are getting the best possible deal on the Civic that you want.

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Prices Paid: Buying & Leasing Experiences Forum

3115ok, the selling price determines the payment, but I suppose the residual is always based on the MSRP. So lower the payment the higher the residuals, which means you pay more to buy the lease buyout. it always a catch 22 situation.I don't think you quite get it. It's not a catch 22 at all. You want higher residuals yes. But you DO want lower than sticker price. And a lower payment doesn't always mean you got good residual or sale price. It could've been a low money factor. Here's the breakdown...

Residual is based on MSRP, yes. So, a $20,000 MSRP vehicle, FOR EXAMPLE, with a 50% residual would have a "buyout" of $10,000 at lease end. However,

you wantthe negotiated sale price to be LESS than MSRP. The reason being is that the negotiated sale price plus any fees (aka NET CAP COST) is subtracted from the residual to form the BASE MONTHLY PAYMENT.EXAMPLE: If you negotiated a sale price of $17,000 including all fees on the $20,000 MSRP you would subtract the $10,000 residual value from the $17,000 (NET CAP COST) = $7,000. Divide by term 24, 36, or in your case 42. = your base monthly payment would be $166.67 IF YOU WOULDN'T HAVE NEGOTIATED A SALE PRICE OF $17,000 YOUR BASE MONTHLY PAYMENT WOULD HAVE BEEN $238.10 at the $20,000 sticker price.

The next part of your payment is the so called RENT CHARGE. To calculate this you add the NET CAP COST plus the RESIDUAL then multiply by the money factor. $17,000 net cap plus $10,000 residual = $27,000 X .00270 = $72.90. The money factor .00270 (6.48%) Is the current Civic MF for "SuperPreferred" tier 1 credit. I PERSONALLY THINK IT IS RIDICULOUSLY HIGH AND WOULD NEVER EVEN THINK OF LEASING A CAR ABOVE 4% LEASE RATE. A MONEY FACTOR OF 0.00125 (3%) WOULD = $33.75 PER MONTH. A BIG DIFFERENCE. OF NEARLY $40 PER MONTH. Anyways..

Add the two together $166.67 plus $72.90 = YOUR PRE SALES TAX MONTHLY PAYMENT OF $239.57

Again, the NET CAP COST will include any and all fees so watch that number. You may negotiate a selling price $3K off sticker price then have a shady dealer add in $2,000 in bogus fees. I personally will only pay the acquistion fee. If they try to add in anything else I walk. Your state may require you to pay your sales tax up front but most just add it to your total monthly payment.

115To answer your question yes, you should definitely worry about residual and money factor. Most dealers are upfront and honest about them but it's best to get multiple quotes. You can call and ask to talk to a salesman or even email and he will give you the numbers 99% of the time, no questions asked. READ MY LAST POST ABOUT HOW TO CALCULATE A LEASE PAYMENT TO FULLY APPRECIATE HOW IMPORTANT THESE NUMBERS ARE.

Get several quotes, in writing if necessary. Make sure they aren't adding in $1,000 worth of BS fees like window etching, paint sealant etc. They may give you the lowest sale price on the vehicle then add a couple of grand in bull crap fees to get their money back.

Also, normally the only difference between a 12,000 mile per year lease and a 15,000 mile per year lease is the residual will be lower on the higher mileage lease. FOR EXAMPLE: If you are getting 50% on the 12K the 15K will be 48% or so.

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