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2013 and earlier-Honda Civic Lease Questions

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Comments

  • sportflyer1sportflyer1 Posts: 13
    edited May 2011
    Hi Car_man

    Thank You for replying to my post. Your second opinion is appreciated. I guessed that the money factor was approx. 0020 , making it an average deal, nothing worse. I just got back from the dealer a few hours ago and I have an appointment to do the deal next Saturday. We agreed that everything will be done according to the feature lease, nothing more nothing less. I will be paying MSRP then. They did not have my color pref. silver or very light blue today. It actually was relaxing negotiating with the feature lease, every trick they try to get you to pay more, you can counter with the fine print. but when all is done I will end up paying over $3200 OTD including first months lease payment
  • bobashbobash Posts: 4
    I've read that if you want to quickly figure out whether a lease deal is good or not, you have to figure out the monthly payment per $10K worth of vehicle.

    If that amount is less than $150, it's a decent deal. If it's closer to $100, that is about as good a lease deal as you can get. So, your MSRP is: $19,504. Your payment (including down payment) comes out to $261.

    Your monthly payment per $10K of vehicle = $133

    This is an OK deal. When Honda was doing their $0 $0 $0 promotion, I think the deals were around $120 per month

    Here's the article explaining this method in more detail:

    How to Quickly Figure Out if a Lease Deal is Good
  • sportflyer1sportflyer1 Posts: 13
    edited May 2011
    After crunching the numbers I felt that Honda's standard lease is okay for a lease, but a lot more expensive than just buying, I think it was about $2,000 more if you buy the car after 3 years. So I decided to purchase, Honda dealers were only giving a few hundred dollars of MSRP, saying that it is a supply problem. Also owned VW's over the years and I am familiar with which versions are of acceptable reliability. Test drove a 2011 Volkswagen Golf 2.5, was impressed with its quality etc. They had few cars available around the area. the Golf is low volume compared to the Jetta, but they got us the car of our color choice shark blue metallic w/blue tooth and $100 over invoice, 2.9 % interest for 60 months and paid me exactly what I wanted for my trade. Thank you Forum for warning me that Honda does not discount.
  • sportflyer1sportflyer1 Posts: 13
    Thanks for the guide on leasing, the original reason I was interested in leasing was to get a price guide that would prevent the Honda dealers from trying to charge me higher than MSRP on a 2012 Civic. I felt that purchasing a car after the lease, I would have spent extra on acquisition fees, and also on the disposition fee, and the sales tax tack on to the interest. Buying is better, the 2012 Civics interior especially the seats are so plain they look like they came of a 2005 Ford Focus. I bought a VW Golf this weekend at invoice price and low 2.9% interest. The interior looks and feels like it came off an Audi.
  • alex177alex177 Posts: 4
    Hi Car_man,

    What are residual and money factor for 36months/12K lease for 2012 Civic LX manual ?

    I just got an offer for $17000 including destination. The dealer is in MA.

    Thanks a lot in advance,
    Alex
  • alex177alex177 Posts: 4
    Forgot to mention MSRP: $18,605 (17,855 + 750)
  • alex177alex177 Posts: 4
    Answering my own question:

    Residual for 36m/12k lease - %67
    Money Factor for perfect credit: - 0.002

    Regards,
    Alex
  • alex177alex177 Posts: 4
    And correcting myself:

    %67 residual is for Automatic transmission. Manual is only %60.
  • sportflyer1sportflyer1 Posts: 13
    That is an excellent price, a small dealer nearby tried to sell me at msrp and a bigger dealer offered an LX for $19,000 both automatics and said I was lucky to get that price. I decided to buy a more expensive VW Golf that was $100 over invoice plus 2.9% for 60 months. Lesson learned is over confident Honda salesmen will not get a sale. By the way 2012 Civics are on the recall news today for fuel tank leaks caused by a manufacturing defect. :D
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited May 2011
    Here's the information that you are looking for, Alex.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2012 Civic LX with 12,000 miles per year are .00200 and 67%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • bhamer54bhamer54 Posts: 1
    Anyone know the current lease deals in CA for a 2012 Civic LX Sedan with a manual transmission?

    I am at the end of a lease on a 2008 (same specs: Civic LX Sedan with a manual transmission), and would prefer to get into another lease on an updated version of my car. I was trying to get into a manual 2011 a few months ago, but there were none available on the west coast!

    Now I am trying to decide if I should buy my 2008, lease a 2012, or look into other similar cars...

    Do you guys think it would be better to buy or lease a new 2012?

    I really was hoping to get the same deal I got last time = $0 down, $200 a month before tax. They were offering just about the same deal up until May, but I refuse to drive an automatic, so I couldn't take advantage of it...

    Thanks for your help!
  • savepennysavepenny Posts: 1
    leased 2012 Honda Civic LX,36 moth . zero down but paid total fees for $ 1297,first payment included. monthly $169 plus tax, also bought exterior/interior /drnt/ding prortction for 5 y for total $499. the remaining value is $13001(is this right?). please advise is this a ok deal?
  • nsn224nsn224 Posts: 1
    I was wondering where did u buy this car. I too am looking for a similar deal
  • zhekazheka Posts: 18
    Hi Car_man,

    What would a current lease deal be for the 2011 Civic EX-L (w/leather) for 36 months with 12k miles annually?

    Thank you in advance!
    -zheka78
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zheka78. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic EX-L with 12,000 miles per year are .00185 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    I would be happy to use this lease program to work up a sample payment for you if you provide me with an approximate selling price for the car that you want. For now I will assume a selling price of $1,000 over invoice. Let me know if you're able to get a better deal than that.

    According to my calculations, if you were to lease a 2011 Civic EX-L that has an MSRP of 21,275 and a selling price of 20,652 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $275.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • miamiboymiamiboy Posts: 2
    Hi Car Man:
    Last night, a dealer in Miami quoted the following for a 2012 Honda Civic EXL (without nav), as follows:
    Price: $22,405
    Lease rate for 36 mo (12K) was .0020 and residual was 65%, with total out of pocket $3,000.
    Am I in the wrong State or the wrong dealer?
  • joecssjoecss Posts: 1
    wat did he quote u monthly @ 22,405 with residual of 65%
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi miamiboy. The lease program that you were quoted doesn't look bad, you aren't being given much of a discount on the selling price though. This car's MSRP of $22,725, so you're looking at a $320 discount on a car that has a spread of nearly $1,750 between its MSRP and dealer invoice price. I realize that gas prices are high right now, creating significant demand for smaller cars like the Civic. I also realize that inventory is tighter than normal as a result of the Japanese disaster. Still, there's enough room here that it wouldn't hurt to comparison shop with another dealer or two to see if you can beat this price.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • zoranzoran Posts: 68
    any advise in sfo bay area? any idea when 2012 insight be out
  • vlilichvlilich Posts: 15
    Hi Car Man,

    Wanted an opinion on a civic ex coupe deal I am being offered...

    No money down ($216 for title and tags)

    $358 a month (9% PA tax included)
    MSRP: 21155
    Price: 20675 + 595 acquisition fee
    residual: 55%
    money factor: .00185

    Thanks
This discussion has been closed.