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2013 and earlier-Honda Civic Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi whatdidyousay. The dealer invoice price for the car that you are interested in is $21,020. If one subtracts the available $750 dealer cash from that it drops to around $20,270. Interestingly, the selling price that you were quoted...even after the addition of the dealer-installed options that you mentioned is even lower than that. If you can get this car for under $20,000 you are getting an outstanding deal.

    The money factor and residual value that you were quoted are right in line with Honda Finance's current program for this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jdw7460. I believe that the volume-based dealer cash programs that Honda was running in April are no longer available in May.

    Car_man
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  • ghetto2315ghetto2315 Posts: 40
    Car_man, Thank you for that info. More than likely my family will be adding an 09 Civic LX Sedan to the family shortly because of the information you posted. An off-topic question, but do you know or can get residual % and MF for an 09 Nissan 370Z? I am in the market for one, Thank you!
  • Hi, I would really appreciate some advice. I've never leased a car before but this just doesn't seem right. I don't have the paperwork yet or the specific numbers becuse this was just the initial offer.

    I went to a dealer and was offerred this on a 2009 Civic EX:
    36month lease with 15k miles/yr
    $500 down
    Rolling about $1300 debt from my current car
    I'm pretty sure they said they were coming down to $15,900 from the list price of $19,775
    (I also have really good credit)

    with a $349/month payment

    Please help!! Thank you!
  • nickr1nickr1 Posts: 51
    Only the down payment and the monthly matter, correct. Some will "think about" and try to factor complicated, changing percentages of MF and residual but it's all nonsense if the dealer is jacking up the price of the car, forcing you to put too much down and giving you a high monthly offer. It's incredibly simple really, just add your down payment to the total monthly payments, that's your lease price, it's simply the total cash you give them for 36 months that matters.

    I have found local NY Honda dealers to be difficult to work with as they offer no incentives or discounts and take maximum profit for themselves, that's their job after all, right? If a dealer says to you, "well, if you put more money down your monthly will be lower," you know it's time to head for the door.

    You say you went to a couple of dealers, was the down and the monthly exactly the same between all dealers?
  • Hi Car_man,

    I hope you are ready for a tough one! Would you happen to have the details (MF & residual) on a GX lease for 12k or 15k miles?

    Thanks very much!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, ghetto2315. I haven't seen the new Nissan info for June yet. I'll make some calls and see what I can find out for you today. Post a quick reminder for me in the Z Lease Questions discussion and I'll let you know what I find out.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Ashley. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using its buy rate lease money factor. On a 2009 Civic Sedan EX, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $1,000 dealer cash that is currently available on it. You cann look up the dealer invoice price over in the New Vehicle Pricing section of this site. This car's buy rate lease money factor is .00225 for consumers who qualify for its top aka "Super Preferred" credit tier.

    I see that you are considering rolling $1,300 in negative equity from your current car into your new lease. May I ask why you are doing this? You would be better off waiting until you were less upside down, or not at all, on your current vehicle to get something new.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi newyork4me. A Civic GX? Now that's an interesting one. I have to ask why you're interested in one? How does filling it with nat gas work? I believe that there's some sort of station that one can buy or lease from Honda that gets hooked up to the gas line at your home or business. Is that right?

    As one might suspect, Honda is not currently providing any support on the Civic GX. As a result, if you were to lease one through Honda Finance right now, you would have to use its standard lease program. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Civic GX with 15,000 miles per year are .00290 and a terrible though not surprising 39%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
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  • Thanks very much for the info! I'm actually looking at the GX because there are some pretty good incentives for buying a CNG vehicle (both at federal and state level). ($4,000 federal tax credit, and a couple states are offering 80% of the cost difference [up to $4,000 again] between the CNG and a gas engine version of hte car as rebates. They use the LX as the comparative vehicle, so it is essentially an automatic $4,000 rebate again. Total, they are $8k off.)

    Yep, you can fill it up with a Phill (the home pump that connect to the nat. gas line) or you can do it at a select few CNG stations. There is one 3 miles from where I live, so it isn't that inconvenient, and I'm pretty sure I'd be the only person I know with a CNG car, so that makes it kinda fun. As a primary car, I doubt it would be too practical unless you live in CA (i live in the midwest), but as a city car it's not too bad.
  • ghetto2315ghetto2315 Posts: 40
    Car_man, there is no 370Z section for Lease Questions... only for the 350. Back on topic with the Civic Lease Questions. Did the Residuals and MF stay the same or change for June?
  • danny14danny14 Posts: 12
    Have the lease deal for the Hybrid(w Leather and Navi) changed for June and is the cash back still available? I assume that when I calculate the payment I apply the residual relative to MSRP - correct?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome. Thanks for the explanation. You definitely would be the only person that I have heard of who has purchased a nat gas powered vehicle. It's definitely cool and a great conversation starter. Just don't take it on any long road trips ;).

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey ghetto2315. Ask and you shall receive. We just added a new discussion for the 370. Here's a link:

    "Nissan 370Z Lease Questions"

    Honda's lease program for the 2009 Civic is exactly the same in June as it was in May.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi danny14. Honda's lease program for the 2009 Civic Hybrid is exactly the same in June as it was in May. Honda Finance's "Super Preferred" tier buy rate lease money factor for this car is .00156 and Honda is providing $2,000 dealer cash on it.

    Yes, the residual value percentage is applied to the full MSRP of the vehicle that you are interested in, including the destination charge and the MSRPs of any options that can be residualized.

    Car_man
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  • Hi Car_man

    Could you post the current (through end of June) MF and residual numbers for the gas powered Civic LX, EX an EX-L (if different), and the numbers for the new Honda Insight? There is no lease/purchase forum for the Insight yet. I want to run the numbers and compare all 3 options.

    Thank you!
  • Hi
    i recently leased a honda civic Lx. Dealer is offering me vin etching as a security measure. He says it will protect my investment, just in case my car is stolen i will be able to pay for the down payment for the new car from the money i get back. It will cost 450 dollars which i can add to my monthly payment. Is it needed or not. Any suggestions ?
    Thanks
  • Car_man, Could you please post the current money factor and residual value for Civic coupe LX lease? What kind of deal should I expect on a coupe?

    Thanks!
  • crazyflycrazyfly Posts: 61
    My friend, if you are really seriously asking this question then all I can say is that VIN etching kit costs $20.. yes, twenty dollars only. If the dealer wants $450 for it, you know what to do. btw, google vin etching kit and you will find all the info.

    Your car insurance company will most likely not give any adnl. discount because of this vin etching (yes, I have tried this in past). if you want to spend $500 you will be better off by getting a Lojack which will lower your insurance premium, and the savings may actually pay for the lojack. Talk to your insurance agent to get specifics before going with the option.
  • Thankyou very much. You have saved me 450$.
  • rafkrafk Posts: 1
    Is this a good deal?

    Honda Civic LX 2009

    Lease is $124 for 24 months with 1995 down+taxes+fees
    :confuse:
  • midway54midway54 Posts: 11
    Is this a good deal? 239 with just 1st mo down on a 2009 Civic coupe EX auto . I figure its end of month and quarter too..They probably need to sell a bunch of cars to make their numbers..I live in Tampa area...Thanks for any feedback..
  • midway54midway54 Posts: 11
    Its for 3 yr and 12k..
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, bocastephen. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Civic LX Sedan with 15,000 miles per year are .00225 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The numbers for an '09 Civic EX Sedan without leather are exactly the same. The money factor for the EX-L Sedan (without navigation) is the same, but the residual value is 57%.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Insight EX without navigation with 15,000 miles per year are .00295 and 66%.

    Honda is not currently providing any cash incentives on the Insight, but it does have $1,000 dealer cash on the trim levels that you are interested in.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi aquarius99. You definitely should pass on window etching for $450. This typical dealer add-on is a ripoff.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, donottrustem. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Civic Coupe LX with 15,000 miles per year are .00225 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    If I was in the market for this car right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $1,000 dealer cash that is currently available on it.

    Car_man
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  • mim3mim3 Posts: 1
    Hi guys- I'm about to dive into the market for a Civic Hybrid LX with 12k miles/year. I've found the past discussions very helpful and plan to use them during negotiations. Has anyone gotten a recent quote on a lease that you feel is a strong offer? Seems like I just missed the boat on the $1,999 down $199/month and the current national offer is $2,299 down at $229/month. Not a terrible starting point, but I'm hoping to do much better.

    Follow up question- does anyone know the current dealer incentives for July for the Civic Hybrid? I believe June was around $2k.

    Thanks guys
  • ghetto2315ghetto2315 Posts: 40
    Can you give me an update on current Residuals and MF and Dealer Cash available on the Civic LX, please? I assume the LX-S trim should be the same across the board as the LX...
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out. You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Civic LX-S with 15,000 miles per year are .00195 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on leases of it.

    Car_man
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  • ghetto2315ghetto2315 Posts: 40
    Car_man, I am assuming the Dealer Cash of $1,000 also applies to cash and finance purchases, not just leasing?
This discussion has been closed.