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2013 and earlier-Honda Civic Lease Questions

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  • bigmortbigmort Posts: 2
    I would also like to share my lease deal on the forum. Thank you everyone for all the helpful posts!

    I was able to get the best lease price by receiving internet quotes from all the dealers in my area (Philadelphia), sending the lowest quote to the other dealers and asking if they could beat it and then repeating this two or three times. The deal I ended up with:

    36 month/12K lease for $2000 down and $187/month with all taxes and fees included. I negotiated the selling price down to $16,200 from the MSRP of $18,200. The MF and residual from Honda were .00225 and 62%, respectively.

    I think I got a pretty good deal. Also, the deal includes free oil changes for the length of the lease--just a little bonus.

    Good luck everyone!
  • sd83srrsd83srr Posts: 7
    bigmort, was this deal for April or May? I am looking into the same car, but, due to my lease transfer, I have to wait until mid to end of May before I will be ready to purchase/lease. Thanks!
  • ghetto2315ghetto2315 Posts: 40
    Leased my 08 Si Coupe for $315.00 per month, for 36-months, and 20,000 miles per year. Paid $2,500.00 out of pocket, which includes tax, title and fee. Plus, I was upside down $900 on my trade! Free oil change for the life of my lease, free locking lug nuts, and free B1 and B2 service. :shades:
  • bigmortbigmort Posts: 2
    sd83srr-

    I actually got in on the last day of a national deal that Honda was running. I negotiated the price below the deal ($2000 down, $189/month BEFORE taxes and fees), but the dealers were receiving incentives from Honda for leasing the Civic until May 4th.

    The saleswoman who leased me my car told me that Honda is likely going to reduce their incentives for May and June, meaning the price of the less is going to go up. You should still be able to get close to $200/month, $2000 down for a 36month/12k lease if you shop around, though.

    Good luck!
  • 09kc3b09kc3b Posts: 1
    Thanks to all for the information.

    I just lease mine.
    36 months/ 12K miles
    Inception fee: $1220 including doc, registration and gov fee, first month payment.
    Monthly payment $225 including tax (NJ)
  • sd83srrsd83srr Posts: 7
    What price (out the door) are you getting them down to? I saw awhile back that someone got them to do $16,500 OTD. I think my best option is to finance the Civic LX because my commute is going to more than double in a few months. I don't want to have to worry about the mileage.

    So, for those who have purchased a Civic LX in May, please let me know what you paid for - out the door.

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey bostonben. Yes, Honda is currently providing support on 24 month leases of the 2009 Civic. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Civic Sedan LX with 15,000 miles per year are .00225 and 67%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi Matt. Here's the latest on these cars' lease programs. 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 Honda Civic EX-L Sedan with 12,000 miles per year are .00225 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The numbers for an otherwise identical lease of an '09 Civic Hybrid are .00156 and 61%.

    The above lease program is compatible with the $2,000 dealer cash on the '09 Civic Hybrid and the $750 dealer cash on the '09 Civic EX.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Welcome rmayfield. Even though you are new to leasing you did a very good job at getting all of the important information that you need to determine if this offer is a good deal.

    The money factor that you were quoted is right in line with Honda Finance's current buy rate for this car. That is a good sign.

    The other important variable here is this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If I was in the market for a 2009 Civic LX right now, I personally would shoot for a selling price of around $500 over dealer invoice, which would be equivalent to right around invoice once the $500 dealer cash that is available on this car is taken into account. The dealer invoice price of this model is $17,305.

    As you can see, the price that you were quoted is excellent. It is right around invoice minus the available dealer cash. If you like this car, go for it. This is about as good a deal as you are going to get on it right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi alliecat1. I'm glad that you found this discussion so helpful. Thanks for taking the time to give back and share the details of your recent lease with everyone. Real world examples like this are always helpful for community members who are in the market for similar vehicles.

    If you haven't already, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience too ;) .

    Enjoy your new ride :shades: !

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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: 38,518
    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: 38,518
    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: 38,518
    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: 38,518
    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.
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