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2013 and earlier-Honda Civic Lease Questions



  • 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: 17,599
    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: 17,599
    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.

    Prices Paid: Buying & Leasing Experiences Forum
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,599
    Did you roll in the Acquisition Fee?

    Did you include sales tax?
  • johntenjohnten Posts: 13
    He got the LX-S
  • utexas06utexas06 Posts: 43
    I was originally planning on getting the LX when I asked car_man but I opted for the LX-S instead. I don't believe the acquisition fee was added into Car_man's calculation.

    johnten, any luck on a Civic lease?
  • johntenjohnten Posts: 13
    Not yet. I had my heart set on a black LX but now it's gone. The color of my car is going to be a big deal to me. I'm looking online at inventory and seeing what I could live with. I might even downgrade to a VP. I'll figure it out this weekend.
  • mariasmarias Posts: 9
    Just leased a Civic LX automatic transmission:
    Cash Price for Vehicle: $16,021.51
    Pre-Delivery Serivce Charge: $799.00
    electronic Registration Filing Fee: 139.95
    Acquisition Fee: $595.00
    Third Party Private Tag Agency fee: $40.00
    Total Capitalized Cost: $17,555.46

    MF: .00059
    Residual 60%
    36 months

    Did I just make a mistake? And what the heck is Pre-delivery Service Fee which was pre-printed on the contract?
  • doctom2doctom2 Posts: 4
    Hello Car_Man,
    Would you kindly tell me the residual and money factor on an Si sedan, 12k/yr for a three yr lease?
    Thanks much
  • stiener1stiener1 Posts: 1
    edited April 2011
    I don't know the MSRP or residual value for the Honda I am going to lease, should I be concerned? I just negotiated on the lease price since I will not be buying the car. I went to 3 places to get this deal and negotiated one to dealer to the next. I also found the color black which believe me was not easy. I live in Northern NJ

    2011 Honda EX Automatic
    36 months/12k Miles
    35 Payments
    $0 down
    $0 Security Deposit
    $515 for all charges including title and registration
    $210 per month tax included
  • johntenjohnten Posts: 13
    Hi Utexas06. I hope you're still around. I think I'll be getting the coupe instead of the sedan.

    Can you or anyone else tell me what the current residual and money factor are for an LX coupe if they're different from the sedan? One dealer quoted me a 56% residual but with their "mileage adjustment" - whatever that is - it came out to 58%. I thought the residual would be the same.
  • csfkeycsfkey Posts: 1
    Just leased a Black 2011 Civic LX-S automatic transmission
    Price for Vehicle: $17580.00
    Acquisition Fee: $595.00
    DMV & 1st month payment: 683.04
    Added features: 325 (mud flaps and wheel locks)
    Total Capitalized Cost: $19183
    Payments: 295.35

    MF: .00210
    Residual 59%
    36 months

    I have only used my credit for about a year and was wondering if the money factor is about right. Also if the cap cost is usual for the LX-S. Thanks
  • raycervraycerv Posts: 2
    Please evaluate this lease offer:

    Dealer Offer: $17,092
    Residual: $11,583
    Payments: $201 including tax
    Due at Signing: $156 for tags / reg /etc
    Standard 3year 12,000 mile per year Honda lease

    My offer: $16,750 based on the truecar dealer cost greta price etc in our area

    Thanks for your help on evaluating this deal
  • nyccarguynyccarguy Stamford, CTPosts: 7,401
    edited April 2011
    Good morning carman. Do you have the April lease rates & money factors for a Civic EX-L w/ NAV for a 36 month lease with 12K per year? Thank-you.

    I'd also like the same numbers for a Civic LX-S?

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

This discussion has been closed.