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2013 and earlier-Honda Civic Lease Questions

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  • xbeatzxxbeatzx Posts: 2
    So after spending the better part of the day working with a local Honda Dealer, I think we got a deal. We initially wanted a White EX with Beige, Thought we had a deal worked out at a couple of hundred over Invoice at $236.00 a month after MN 6.5% Tax. They didn't have any in stock but had a White EX-L with black interior. Deal we got is $21.200 purchase price ($400 below Invoice and retail of $23,055.00, 36 Month/12k lease, .0011 Money Factor (2.66%) and 63% Residual. Total payment including tax per month of $249.50. $1000 total down which includes Fee's and first month. $14,063 buy out at the end. So Basically we got the leather package for an extra $14 a month or the upgrade in model for $800 since we had worked out $20,400 on just the EX. The heated seats and mirrors should actually be a nice bonus with our weather.

    Anyone comment if this is a deal or not? Really is appreciated.
  • jipsterjipster Posts: 5,345
    edited March 2013
    Got a shallow dent and a few deep scratches in my 2012 Civic from someone clipping my car in parking lot. 2 estimates were both $1,150. What would you do? Repair the right way. Do it cheap for $400, sit on it and hope Honda doesn't notice it if I turn it in, or do nothing and buy at end of lease. :cry:

    Don't think I want to turn in to insurance.
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    If your vehicle is leased through Honda Finance, you've got 1500 damage allowance (check your paperwork)

    Considering the identical 1150 estimates, looks like you're in the clear regarding just these.
  • lakerskobelakerskobe Posts: 31
    edited April 2013
    My advice for leasing:

    1. Only deal with manufacturer subsidized leases. Negotiating a lease on your own will often end up being very expensive.

    Current Honda leases specials.... http://automobiles.honda.com/current-offers.aspx

    2. Ask if Gap Insurance is included in the payments... if not, ask it be included.

    3. You can transfer lease contracts, very useful if you encounter financial hardship during your lease. Some services that help you with this http://www.leasetrader.com and http://www.swapalease.com

    4. You can also trade-in or sell leased cars. But you'll be responsible for the full price of the car. So if there are any negative equity, you will be responsible.

    5. If you foresee going over 12,000 mile/year limit, then you can purchase miles beforehand at a discount.
  • ridge3ridge3 Posts: 4
    Hello xbeatz. Im am located in mpls and in the market for civic ex. Could you let me know dealer and or contact you worked with?
  • ridge3ridge3 Posts: 4
    Hello xbeatz. Im am located in mpls and in the market for civic ex. Could you let me know dealer and or contact you worked with?
  • You might want to read your paperwork also... my understanding is the $1500 is broken up into 3 incidents x $500. So if the poster had $1100 from one "incident" they would still be liable for $600 ($1100-500 allowance) with another 2 x $500 available.

    Don't have direct experience with this amount of lease "wear", just what I understand after reading the back of my contract so if someone does a correction is requested.
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    Unless I see something supporting this low figure more than just words don't waste your time chasing it. Also the poster never even got back to you with dealer's name and what kind of poster would deny such request from "jersey girls"? :)

    Same poster failed to provide such information in a 2008 post and wanted to be emailed..........check their posting history.
  • jipsterjipster Posts: 5,345
    The way I read it, anything over $500 I have to eat. 3 separate incidents each not over 500 bucks, honda eats. Still not sure what I want to do. I'm suppose to call Honda and report incident.
  • Yeah, you and I are reading it the same way (I always thought it was $1500 absolute but learned something now because your post got me to read the fine print).

    It's bad luck but if theres a plus it's that they do give something towards this (not aware of others that do) and at the end of the lease theres no disposition fee.
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    Greetings kyfdx and car_man and thanks in advance: I read about cash for the accord and crv.

    Is there any flexcash for the civic?

    Looking for an lx or if I can swing it an ex. Is there a difference for buying or leasing if there is any flexmoney for either the lx or the ex?

    Your information will be very appreciated!
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    Confirming Honda's lease damage waiver is $1500 = 3 incidents x $500.

    Examples:
    - $1500 damage x 1 = leasee owes $1000
    - $1000 damage x 1 = leasee owes $500
    - $500 damage x 3 = leasee owes $0
    - $1500 damage x 5 = someone else should drive.

    So one bigger collision and you'll owe the amount greater than 500. Three separate small ones of less than 500 and you're ok.

    With 1100, owing 600, you might want to let it ride unless your insurance won't take a hit with declaration. A lot of other companies have a 400 or so fee at leases's end anyway at termination. Regardless, you still have 2 x 500 more............
  • car_bhuncar_bhun Posts: 1
    Saw this on legend leasing

    http://www.legendleasing.com/Civic_LX

    Is it a good deal compared to dealers or can I get dealer to give me better.
  • jipsterjipster Posts: 5,345
    edited April 2013
    I believe it's .01- $499.99 and Honda pays for the whole repair. If repair is $500.01 and up then I pay for all of it.
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    I believe it's .01- $499.99 and Honda pays for the whole repair. If repair is $500.01 and up then I pay for all of it.

    Sorry, meant to write that the owner absorbs the excess beyond $500... in the above example, we'd pay the amount beyond and including 500.01.........
  • jipsterjipster Posts: 5,345
    $500 really doesn't fix much, a. Couple deep scratches maybe.

    Don't know if it would be better to repair now, or wait till end of lease to see if anything else happens.
  • jipsterjipster Posts: 5,345
    Got rear ended at stop sign today. No joke. Unbelievable.

    They thought I was going, nice jolt and crunch. Thought no damage initially when looking at rear bumper. Took to body shop, does have a small crease/dent. NOTICEABLE.But, not bad. Thought $200-$300. It's $599! Have to remove rear bumper and repaint. Other driver gave me Insurance info, Safe Auto. I called, it's lapsed. :sick:

    So, if repair was $100 less Honda would pay for. Don't know if they would require I fix as hardly NOTICEABLE.
  • kyfdxkyfdx Posts: 31,248
    Safe Auto.... :surprise: Should have called the cops right there...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi iwannagr8lease. Yes, the $500 FlexCash certificates can be used on leases of the Civic. The trick is finding a dealer that will use one on your deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • nrborodnrborod Posts: 79
    Do I understand correctly that you got an EX-L Civic for 249.00 per month--or is it more--like $13 more per month.
  • will_ksuwill_ksu Posts: 8
    edited May 2013
    Car_man,

    Thanks in part to the information you provided (Ford Focus, Mazda 3, etc) I ended up getting a 2013 Honda Civic LX Automatic Sedan (Dyno Blue Pearl, to be precise) with no options. The details, for those interested:
    $19755 MSRP
    $18422 Negotiated Price
    -$500 Flex Cash (Ended up being $100 from Honda, $400 from dealer due to their mistake)
    +$595 Acquisition Fee
    +$149 Dealer Fee
    +$5 State Fees
    -$0 down

    There may be some other things in there as well I don't remember at the moment, but in the end I have a lease payment of about $226/mo. This includes local 8.55% sales tax. They also took in my old leased vehicle that I was going to have to pay to have some wear & tear replaced & that also had a trade-in value less than my residual. I think I would have preferred either the Focus or Mazda 3 as a car, but neither was worth at least an extra $25/mo in payments (not to mention higher insurance and registration costs).

    So, thanks for your help!
    Will_KSU
  • will_ksuwill_ksu Posts: 8
    If you do the math, it ends up being cheaper than the subsidized lease:

    Subsidized, $0 down, $0 first payment, $230/month for 35 months-
    ($230/month)*(1.0855 sales tax)*(35 months)=$8738 plus other fees

    My deal, $0 down, $225.60/month for 36 months-
    ($225.60/month)*(36 months)=$8122 Total over 36 months (includes taxes)

    I basically ended up with a deal costing me at least $600 less over the life of the lease compared with the subsidized lease, probably closer to $800 when dealer & state fees are included. Kansas collects sales tax from the buyer on all payments, rebates, incentives, dealer fees, etc, with the exception of the state $1.00 tire fee and manufacturer to dealer incentives.

    I don't wish to show the math for it, as I didn't even consider placing a down payment, but the $169/mo, $2299 due at signing deal is actually more expensive than either my deal or even the $230/mo, $0 due at signing deal.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome will_ksu. Thanks for taking the time to come back and let us know how everything turned out. Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • lakerskobelakerskobe Posts: 31
    I'm sure your lease costs more once you add the drive-off fees. Even $0 down leases have that.
  • will_ksuwill_ksu Posts: 8
    Just to be clear, the $225.60/month is everything: taxes, fees, & whatever else included. All fees are covered by the lease payment & I never had to pay anything other than the $225.60 for the first month when I signed the papers. The only other things I'll ever have to pay on this car are fuel, maintenance, insurance, and yearly property/registration taxes (handled at the county courthouse, never paid at the dealership in Kansas).
    My Civic was leased at the end of April through Honda Financial at the same terms as their promoted leases (MF=0.00111, Residual=63%), but I negotiated a better selling price than those offered by the promoted leases.
  • vrynicevrynice Posts: 22
    edited May 2013
    Would love to get some opinions on an offer I received today.

    2013 civic sedan ex
    36 months
    15k miles per year
    $1999 Total out of pocket (little more then I wanted to put out of pocket)
    $219 per month including tax

    Its the first dealer i visited. Thanks for the help!
  • 1saluki1saluki Posts: 1
    I am going in this weekend to look at leasing a 2013 Honda Civic EX-L with 12,000 miles a year. I have searched the board ans seen a few monthly figures but would anyone care to tell me what they believe a good deal would be on this car?
    I can put money down or just first payment and fees up front.
    Thanks
  • charles_guycharles_guy Posts: 55
    edited May 2013
    if your credit is +++++ go sign n drive

    anyway no more than 1rst and dmv is the way to go

    check weymouth for the rates. their pretty good for a comp depending on where you buy lease
  • joey135joey135 Posts: 2
    Car_Man,
    Can you post the June 2013 money factor and residuals for Honda Civic LX Sedan? Thanks a lot and I really appreciate your help.
This discussion has been closed.