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2013 and earlier-Honda Civic Lease Questions

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  • couple of questions:

    1. salesman wanted to add on window tint ($295) pin striping ($195) trunk tray ($295) and protection package ($395)....said it was standard on this model...is this true?

    2. came back with $1499 down $199 per month and $199 due 1st month upfront...said couldn't budge on $1499 due to TT&L...is this true or can you really get zero down...actually would be wiling to go up to $220 per month w/ zero down...
  • zaxxon25zaxxon25 Posts: 3
    edited October 2012
    Helped a friend here in MA lease a '12 LX 4 door yesterday. 3 yr/36K at $199/mo ... no acquisition fee, no dealer doc fee, they even absorbed sales tax/title and waived security deposit. No back end recovery fee either ... tried to find the holes but couldn't. She was top tier credit so that factored in as well. I perused their website beforehand and they had a massive inventory of '12s they need to clear ... add that to a slow Sunday at the dealer and I think we hit the perfect storm.
  • I was curious to what the cash price for a Honda Civic Sedan LX 2012 would be. I was quoted $19800 taxes and freight all in. Thanks for your help.
  • dylrexdylrex Posts: 57
    edited October 2012
    Are you sure all of that wasn't rolled into the cap cost???
  • Hi hondaallen. These items are only "standard" at this dealership...if at all. Honda does not deliver the Civic to dealers with these options already on it.

    What is the breakdown of the $1,499 that's due at lease signing. Most items that need to be paid at signing can usually be rolled into vehicles' capitalized costs to make them part of the monthly payment.

    Car_man
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  • Hi rocsteve. If I was in the market for a 2012 Civic right now, I personally would shoot for a selling price of a couple hundred dollars over the dealer invoice price that is listed in the New Vehicle Pricing section of Edmunds.com minus the $1,000 dealer cash that Honda is currently providing on this model.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • mike_s5mike_s5 Posts: 8
    edited November 2012
    Hi all...

    I am looking to lease a '12 Civic EX or EX-L in Chicago. I noticed on the Honda website they are offering 0.9% on a 36 mo. lease. What should my monthly payment be with no money down on a good deal? What is the money factor, etc? Is it better to call a bunch of dealerships or use the Honda website for a quote, and what questions/info do I need so I don't get ripped off?

    Thanks!
  • Got the following deal

    - No money out of pocket at signing
    - First month paid by Honda Financing
    - 36 month lease 12K/year

    Price - 219.24/month including tax.
    Price Pre Tax - 199.62
  • Got the following

    199.62 before tax including title, license, acquisition fee on 12 Civic EX with 12K miles and 60% residual

    And a $50 cash back certificate from Edmunds just for doing research on the site.

    Use USAA buying service to start if you can, or Truecar if no USAA. The dealers call you and you just need to negotiate down on the car price from the price they quote.

    And don't let the dealers screw with the other variables.. (money factor, residual, etc...)

    Best advice, model what you think is a fair monthly rate after tax in Excel and just be prepared to call BS on the lease rate even though all dealers will say it is not up to them to change the money factor or residual..
    Because , as I found out, even with a set price from USAA or Truecar, they still want to deal.
  • It seems like all the lease deals here are for 36 months. I am interested in a 24 month lease of a Civic, does Honda Finance only do 36 month leases or are there other options for lease duration?
  • ill reply to my own question. i inquired with a local dealer regarding 24 month lease on 12 Civic LX. He offered: $225/mo and $1999 due at lease signing. A laughable deal imo.
  • berk6berk6 Posts: 3
    Hi. I am in the market for 2012 civic hybrid, but on a 24 month lease. do you know the current residuals and money factors? I reverse calculated the 36 month MF to be .0016 based on their current deal, but I've seen other people mention .00077. I also dont know the relationship between 36 and 24 month residuals. I would appreciate any help.
  • Hi koctailz. What you've found is not surprising. Most banks do offer 2 year leases of vehicles, however...short leases are usually much more expensive. The reason for this is that lease payments are composed of two main pieces, vehicles' depreciation and the interest that is being charged. New vehicles experience their most rapid depreciation over the first year of ownership. Longer leases are able to spread out this large depreciation hit out over a larger number of monthly payments than short leases are. If you really want to lease, you really should go with a 36-month term on this model.

    i>Car_man
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  • Hello berk6. Honda Finance's November buy rate lease money factor and residual value for a 24-month lease of a 2012 Civic Hybrid Sedan with 15,000 miles per year are .00030 and 62% for consumers who qualify for its top credit tier. This is for a model without leather or navigation.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • berk6berk6 Posts: 3
    Wow that is incredibly useful information. Thanks.

    Do you know the similar info for the prius c and prius? those are my other contenders, though i think toyota does not lease as aggressively as honda.
  • ck90211ck90211 Posts: 129
    Just helped a friend negotiate a '12 LX for $938 drive off (Honda Acq fee, CA license, security deposit, etc.), and $168/month (including CA tax) at DCH Honda in Gardena. While it might be even cheaper next month, with '13 redesign the Residual on '12 may take a beating (as seen on 12 and 13 Accords).
  • jipsterjipster Posts: 5,345
    I just leased a 2012 Civic LX. The stereo sound system is not that great. Am I allowed under lease guidelines to put in an aftermarket stereo and speakers without effecting the lease in an adverse way?
  • The 2012 Civic needs a lot to approach the re contenting and redesign of the newly minted 2013 Civic. We had a 2009 Civic and rated it one our best cars ever!

    Now to your question, you can add updated speakers to the doors and rear deck as long as they use the existing holes and factory covers on the speakers! Look at Crutchfield.com for their fitment advice on adaptors to fit the stock spaces. You can also change out the tuner/head unit for something a lot better and they have adaptor plates that will fit your car dash. Keep your old radio to reinstall before your lease ends and that should keep you out of hot water with the leasing company! We updated the front doors speakers on our 2009 and that really made a difference! When you see the stock speakers, you will understand just how crappy the OEM content is.
  • jipsterjipster Posts: 5,345
    edited December 2012
    Thanks a lot robtroxel. Really didnt notice sound quality during the test drive. But the oem Civic stereo is far inferior to the monsoon sound system that was in my Buick Regal

    How would you compare the 2009 and the 2012 Civic?
  • Looking at leasing this car for my wife. She could care less what she gets....4 wheels a reliable engine and that's it! 12000 mileage is OK and she shouldn't exceed that.

    Just last nite dealership changed their special lease deal. Here are the terms (limited info on website)......

    MSRP 19595
    Net Capitalized Cost 16382
    Term 36 month
    Payment 139
    Money at signing 2000
    Residual value 11561
    Mileage 12000 plus 15 per mile over

    Add also mentions owner is responsible for excessive wear and tear.

    Unfortunately, due to some extenuating circumstances, I cannot bargain for better prices or terms. I also must buy from this dealer.

    Questions I have.......

    Confused about net capitalized cost....I thought that was essentially the sales price?

    I thought all Honda leases included the first 1500 against wear and tear. Is it possible this is NOT included in this deal?

    Finally......Good deal? Bad deal? Mediocre deal?

    This is really invaluable...to be able to go to an independent source and bounce ideas off of an expert!!

    Thanks so much for the info!!

    Kevin
  • You're very welcome berk6. I'm glad that I was able to help you out.

    Toyota's lease program on the Prius varies depending upon which one of its twelve regions you are in. What state do you call home?

    Car_man
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  • Thanks Kevin. I'm glad that you find this site so helpful. A vehicle's gross capitalized cost is basically its selling price. The net capitalized cost is the selling price minus any capitalized cost reduction that you choose to make (ideally this should be zero) plus any miscellaneous fees that you and the dealer decide to toss in there, like the acquisition fee, taxes, or other fees.

    Honda Finance does indeed waive the first $1,500 in excess wear and tear charges on leases.

    Let's take a look at this car's selling price. This car's dealer invoice price is $18,275. If we subtract the $1,000 dealer cash that is currently available on it from that it drops to $17,275. The capitalized cost that you were quoted is even lower than that, $16,382. This leads me to believe that part of the $2,000 that's due at lease signing is a capitalized cost reduction. I always advise consumers not to make down payments on leased vehicles. Those who make one risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, it's much safer to go with a zero down lease.

    Shoot for a selling price that's as close to $17,275 with nothing down as possible. Then have the dealer calculate your car's payment using its buy rate lease money factor of .00054 (top tier).

    Car_man
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  • jipsterjipster Posts: 5,345
    edited December 2012
    Honda Finance does indeed waive the first $1,500 in excess wear and tear charges on leases.

    My contract with Honda (2012 Civic LX) says they waive up to 3 seperate wear and tear events for up to $500 for each event... up to the maximum of $1,500 waived.

    I always advise consumers not to make down payments on leased vehicles. Those who make one risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered

    Honda has "Total Loss Prevention", which limits the amount you will owe if the vehicle is lost, stolen or destroyed. i.e past due payments, insurance dedeuctable , any owed taxes.

    From what I've seen, the typical $1,999 down can save between $1,000 and $2,000 over the life of a 3 year lease (over the nothing down and highly monthly payment lease). So definitely worth the gamble don't you think? :confuse:
  • Thanks Car Man!

    As mentioned before....very, very nice site with valuable indepedent info!

    Kevin
  • kyfdxkyfdx Posts: 27,921
    From what I've seen, the typical $1,999 down can save between $1,000 and $2,000 over the life of a 3 year lease (over the nothing down and highly monthly payment lease). So definitely worth the gamble don't you think?

    The math doesn't support this.... Using a money factor of .0015 (which is about average... maybe, a little high), putting $2000 down saves $3/mo. in finance charges.. or, $108 in total over a 36 month lease...

    So...put $2000 down, pay $2108 less over the term of the lease.. Or, $108 less in total cost. That's assuming no time value to the extra money in your bank account over that time (which would reduce the calculated savings)..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jipsterjipster Posts: 5,345
    The math doesn't support this

    Sure it does. Otherwise why would people put 2 grand down, instead of nothing, and only save $108 over the 3 year lease. Doesn't make sense.

    Maybe manufacturerer lease specials are different. But, in every single lease deal I've looked out (Toyota, Honda, Buick, Chevy) the total out of pocket expense for a nothing down 3 year lease is much more expensive than than those requiring $2,000 down.
  • kyfdxkyfdx Posts: 27,921
    Sorry... I just gave you the math.... It's true and accurate..

    The total cost of a lease with a $2000 downpayment is only $108 less than without the downpayment (once you add back in your $2000 upfront payment)...

    A lease isn't magic.. it's just an alternative form of financing.. It works the same way with a purchase loan..

    If you borrow $30,000 for 3 years at 3.5%, your total cost (including interest) is $31,646

    If you make a $2000 downpayment, and borrow $28,000, your total cost is $31,536 (including the downpayment) ... for a whopping difference of $110..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jipsterjipster Posts: 5,345
    Why then would my deal at Bob Montgomery Honda be $1,160 less over the term of the lease, than the exact same car, same mileage limits, as one at Sam Swope Honda . The only difference being zero down at Sams?

    Again...why put the 2 grand down if the whopping difference, over 3 years, is only $110 compared putting nothing down?
  • kyfdxkyfdx Posts: 27,921
    Why then would my deal at Bob Montgomery Honda be $1,160 less over the term of the lease, than the exact same car, same mileage limits, as one at Sam Swope Honda . The only difference being zero down at Sams?


    Bob Montgomery gave you a better deal? Leases aren't etched in stone.... the deal depends on the selling price of the vehicle...

    Again...why put the 2 grand down if the whopping difference, over 3 years, is only $110 compared putting nothing down?

    Exactly my point... why would you?

    MODERATOR
    Prices Paid, Lease Questions, SUVs

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