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2013 and earlier-Honda Civic Lease Questions

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  • Car man-
    Is this a good deal?
    2011 Honda Civic LX sedan: $207.86/month with your first payment down plus your DMV fees. 12,000 miles per year and 36 month terms
    What should the deal look like, if not? Also, do these "special leases" have room for negotiation?

    THANK YOU! I've never leased and it's overwhelming trying to learn how it works the first time.
  • jg55jg55 Posts: 2
    That's a great deal...I'm from NorCal which dealership was that offer at? Did you go through with the purchase....was it legit? What is your payoff after lease?
  • I have a 2008 Honda Civic EX-L, and my lease is up in two months. The tires are completely shot - so much so that I can't really even drive my car in the snow (bald!)
    I'm trying to figure out what to do between now and the end of my lease. Will I be charged for the tire wear?

    I am probably just going to turn the car in, rather than lease another honda, so not interested in trade in value...just getting rid of the thing without having to pay. I'm 5000 miles under my allowance and the car is in great shape otherwise. I am honestly thinking about getting a new car now and just paying the next two months payments until finish -- as that would be about the same as buying new tires. Super frustrated...Any thoughts or advice?
  • Greetings ladybug26. The easiest way for me to evaluate this deal is to look at this car's selling price in relation to its MSRP. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers, it is difficult to tell how large a dealer discount you are being given and in turn if there's any room left to negotiate. Let us know what these numbers are and either myself or another knowledgeable community member will gladly let you know what they think.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • dwynnedwynne Posts: 4,018
    Are you leasing with Honda Finance? If so, the end of lease info is here: end of lease process

    AHFC leased cars should have have a $500 per "item" forgiveness and $1,500 total built into the lease. If nothing else is wrong and you are under miles, then new tires would be covered and you would owe nothing.

    Contact them and get a lease end inspection set up and done. You will them get a state of what (if anything) you will owe at turn in. You can correct the problems yourself or turn it in at lease end and pay the bill (if any) for the problems.

    *I* would not drive around on bald tires nor let my family drive on them so I wold get something put on the car. You might could find some used tires (matching sets only) to slap on to bet you by. Check tirerack.com or distountiredirect.com for some new tires (looks like $70-80 each plus mount and balance). Try ebay for new and used tires in complete sets.
  • Hey. I am looking to get into a 3 year lease on either a civic sedan or coupe. I am in Tampa, fl and in college. Right now they are advertising a 0 down $190 a month for the sedan.

    Fine print FEATURED SPECIAL LEASE: Closed end lease for 2011 Civic Sedan 5 Speed Automatic VP (FA1F3BEW) available from 01/05/2011 through 02/28/2011, to well-qualified lessees approved by Honda Financial Services. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $18,405.00 (includes destination, excludes tax, license, title fees, registration, documentation fees, options, insurance and the like). Actual net capitalized cost $17,085.10. Net capitalized cost includes $595 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Total monthly payments $6,650.00. Option to purchase at lease end $10,674.90. Must take new retail delivery on vehicle from dealer stock by 02/28/2011. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year for vehicles with MSRP less than $30,000, and 20¢/mile over 12,000 miles/year for vehicles with MSRP of $30,000 or more. See your Honda dealer for complete details.

    Can anyone help me decide if this is a good deal or if I can negotiate more. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jdjgreenhair. Honda's official advertised lease payments usually leave a little meat on the bone so to speak. If I was in the market for a Civic 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 this car.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Finalizing a lease deal in NJ for 24 months Civic Sedan LX, 12K miles. Getting a sell price of $16,300 which translates to a sign & drive (all fees, taxes included, 0 due on signing) of $190 a month for 24 months.

    Don't have the MF and RV right now but the math seems to hold up even on the most aggressive calculations because of that sell price.

    Any comments/feedback?
  • I picked up a Civic LX Sedan (Polished Metal Metalic) out the door price of $16,888.65 from Dulles Honda in Northern VA.

    Vehicle has splash guards, pinstriping, door and wheel well moldings as extras, and all oil changes, tire rotations and multipoint inspections are included for three years.

    Leased for 36 months/12K mileage per year. $175 down (incl 1st month payment), $163/month for 35 months. This included all fees (taxes/tags, etc) baked into lease.

    Total payments over the 36 month lease = $5,780. Residual value at lease end will be $11,583 (same as current national 0 down, $200/month lease deal).
  • Can you help with the current figures for Civic leases? Trying to back into the figures from the terms of the current factory deals ($200/month for 35 months w/ nothing down or $149/ month for 36 months w/ $1,999 down for an LX at 12k per year). Residual seems to be 60% but I'm having a hard time calculating the MF without knowing what other fees, etc are in there.

    So, my questions are:

    1) What are the current MF and residuals for a 36 month 12k/year lease on a LX or LX-S.
    2) Are the residuals any different for AT vs MT
    3) Do you know what the MFs are at maybe one tier below "Super Preferred?"

    Thanks.
  • delta737hdelta737h Posts: 603
    edited March 2011
    cpoeclass,

    Honda Ads make it very easy to compute the money factor because they always disclose payment, term, net cap cost, and residual (buyout). The methodology used to compute the MF and residual factor is described in the following article...

    https://autoleasegeek.com/573/analyzing-and-evaluating-special-lease-promotion-o-

    Hope this helps.

    John
    The AutoLeaseGeek
  • cpoeclasscpoeclass Posts: 7
    edited March 2011
    Thanks John. I'm actually pretty good with how leases work and have my spreadsheet open in front of me right now.

    The difference from the example you posted is that the current offers shown on Honda website no longer explicitly state what the cap cost reduction is. That said, knowing all of the other variables, it appears to me that the advertised deals are based on about a $1500 cap cost reduction, MF of .00057, and a 60% residual.
  • welby107welby107 Posts: 1
    Hi Car Man!

    Going to pick up my 2011 Honda Civic LX Automatic tonight. Just for my peace of mind, was wondering if you could tell if I am getting a good lease deal with the following information:

    36 Month, 12000 miles
    MSRP 19305
    Purchase Price 16488
    Down payment 1000
    Monthly $165 (actually will be $164 and some change)
    Located in Northeastern PA

    Thank you so much! First car lease...first car buying experience! Just sold my 1998 Honda Civic over the weekend (Thanks Mom and Dad for my first car!)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cpoeclass. Honda Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic Sedan LX with 12,000 miles per year are .00057 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The money factor for an otherwise identical lease of an LX-S are the same, but its residual values are 1% lower.

    The transmission type has no impact upon these cars' lease programs.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi welby107. The selling price that you were quoted looks great. It's below dealer invoice minus the available $1,000 dealer cash. Enjoy your new ride!

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • utexas06utexas06 Posts: 43
    Carman,
    I'm looking at a 2011 Honda Civic LX MSRP $19,305 with a sales price if $16,433. I'm wanting to lease this vehicle for 36 months at 12,000 miles a year. What is the April MF and residual %? Can you give me an estimate of payments based on the $16,433 sales price? Thanks!
  • utexas06utexas06 Posts: 43
    2011 Honda Civic LX Sedan Lease

    MSRP $19305
    Selling Price: $16433
    Lease Acquisition Fee: $595
    Doc Fee: $299
    Net Cap Cost: $17,277
    Residual: 60% after 36 months
    Money Factor: .00057

    $0 down, $0 security deposit, $0 first payment
    $177.68 for 35 months

    What do you all think?
  • johntenjohnten Posts: 13
    I've called a few dealers and basically gotten the same quotes for a Civic LX sedan. Can someone weigh in and tell me if these are good numbers? This is also off the top of my head.

    MSRP - $19305
    Residual - $11500
    Monthly - $200
    Sale Price - $16750-$17000
    Drive away just the title and registration. No down. No first payment.

    I was hoping to get a lower monthly payment like some posters in this thread. Now I'm not sure that's possible with the 2012's just around the corner.

    Thanks.
  • utexas06utexas06 Posts: 43
    johnten,
    Go to truecar.com and enter your zip code and the vehicle you want. Click locate dealers and it will pop up competitive offers from multiple dealers. Select the dealers you want and enter your information in and you will receive an email shortly after with their best offer. The price you see is the price you pay. They will add the acquisition fee to that but be sure they are using the current money factor and residuals to calculate your payment. Hopefully you find a lower price on there.
  • utexas06utexas06 Posts: 43
    Not sure what city you're in but I found a Honda Civic LX for $16,079 about 25.6 miles from zip code 90001 in L.A.
  • johntenjohnten Posts: 13
    Thanks for that. How do I know what the current money factor is? Most of the quotes I've received used the same one but a couple of others were different.
  • utexas06utexas06 Posts: 43
    For a 2011 Civic LX Lease assuming 12K miles per year for 36 months the money factor is .00057 and the residual is 60%.
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,659
    With the newly redesigned Civic about to arrive any day now, it looks like Honda is being extra agressive on their residuals. A 60% residual is too high for a model at the end of it's life.

    Too high for Honda that is. They may pay the price later. go for it!
  • utexas06utexas06 Posts: 43
    edited April 2011
    Signed for this deal this evening.

    2011 Honda Civic LX-S in Polished Metal
    36 Month Lease
    12,000 Miles a year

    MSRP $19,905
    Negotiated Selling Price: $16,866
    Lease Acquisition Fee: $595
    Doc Fee: $210
    Adjusted Cap Cost: $17,671
    TTL: $675 paid cash upfront

    Residual: 59%
    Money Factor: .00047
    $0 First Payment, $0 Security Deposit, $0 Down.
    Monthly Payment: $178.45
  • johntenjohnten Posts: 13
    Congrats. That looks like a great deal! I have a few more questions before I head out to the dealer tomorrow or Friday.

    I printed out the certificate from Truecar. The price was great. How should I approach the negotiation? I'm afraid they might slap on a bunch of fees once they see the certificate.

    Is the acquisition fee only in certain states? None of the quotes I received listed it. The only fees I was quoted were title and registration.
  • utexas06utexas06 Posts: 43
    Are you going to the dealer named on the Truecar certificate? If so there's no need to negotiate because that is the selling price you will get. If you're taking it to a competitive dealer like I did then ask them if they can beat or match the offer if they would like to earn your business.

    The $595 acquisition fee is non-negotiable and is required for the lease program. That is added to your low purchase price since it is likely below cost. Other than that there is a dealer doc fee that can range from $100-$400. I cannot stress enough that when you're reviewing the payment terms and contract review it with a fine tooth comb. Make sure the MSRP on the contract matches the sticker MSRP. They tried backing out the $750 destination charge and that affected the residual and made my payment $12 higher than it should have. Also make sure the negotiated selling price is explicitly stated on the contract before the acquisition fee and variable document fees. The contract won't show residual % or money factor but if you know the MSRP just take 60% and that will give you the residual $ value which should be on the contract. Other than that you'll pay taxes and registration.
  • johntenjohnten Posts: 13
    edited April 2011
    I'll be going to the dealer on the certificate. Not only is the price great, but they're one of the few dealers around who have an LX in the color I want. These really are going pretty fast.

    I forgot about the dealer doc fees. I'm guessing that ones non-negotiable. So I'll have to bite the bullet on that one. Thanks for all the information. It's been a real help.

    I just looked at the certificate again. It says the maximum documentation fee in CA in $55!
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,659
    You did a no brainer. They made no money on the car and your Money Factor amounts to less than a 2% interest rate.

    Seems like why bother even making a sale like that just to make little or no money.

    You did great!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi utexas06. Honda Finance's current base lease rate and residual value for a 36 month lease of a 2011 Civic Sedan LX with 12,000 miles per year .00057 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    According to my calculations, if you were to lease a 2011 Honda Civic LX that has an MSRP of $19,305 and a selling price of $16,433 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $151.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,659
    Did you roll in the Acquisition Fee?

    Did you include sales tax?
This discussion has been closed.