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2013 and earlier-Honda Civic Lease Questions

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Comments

  • yeo24yeo24 Posts: 1
    Hi Car Man,

    I'm looking to lease a 2012 Honda Civic LX 4dr Automatic vehicle. I've called a few places and got rough quotes for the lease, and the best deal I got was $530 out the door with $216.40/month for 36 months (36k miles). I don't want to put any money down, but am willing to pay for the registration fees and all that upfront if that method saves me a couple hundred dollars. Do you think that is a good deal? What do you believe is a good deal in terms of financing this vehicle? Thank you!
  • Hi kcarnes92. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Civic EX-L Sedan with 12,000 miles per year are .00185 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Vehicles' residual values are based upon a percentage of their full MSRP including the destination charge.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi yeo24. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you were able to provide us with this car's selling price, we would be able to see how large a dealer discount you are being given and in turn if there is any room left to negotiate. Let us know and we'll tell you what we think.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car Man and others,

    Can anyone explain the breakdown of the lease advertised on Honda's web-site?

    2012 Civic Sedan Automatic LX Featured Special Lease
    $0 down payment
    $0 security deposit
    MSRP $19,425.00 (includes destination).
    Actual net capitalized cost $19,511.76 (includes $595 acquisition fee)
    Option to purchase at lease end $12,237.75 - I assume it means "Residual"

    Honda web-site advertises this as $230.00 per month for 35 months ($0 first months payment)

    Please help explain the following:

    1. When calculate residual from the above it turns out %63 not %61 posted on this forum.

    2. When calculate monthly using above numbers it turns out 266.54 not 230

    Thanks.
  • 1) Different trim levels often have different residuals. The lower the trim level, the higher the residual (usually)

    2) Different trim levels often have different money factors, as well.. Reverse engineering that payment, I'd put the money factor on that lease somewhere between .00085 and .00090

    Regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • Thanks for quick reply - any other idea for the difference? A money factor of 0.00085 seems too good... 2%
  • Just leased a 2012 civic EX for $190 a month including all the fees and tax and $1000 down for 36 months 12k miles a year. Is this a good deal?
  • vorarevorare Posts: 3
    Hi,

    I need some advice, and this seems like the best place to ask. I'm going to be helping a relative with her negotiations on a new lease. Her current lease expires in April for a 2009 Honda Civic Hybrid. The complication is that there's some damage to the car that I'm almost certain will go beyond the normal "wear and tear." Specifically, there's a small amount of damage on the rear driver's side from a parking garage mishap.

    She hasn't had a repair estimate done yet, but she's really hoping to find a way to have the damage cost taken care of as part of starting a new lease. So I guess the questions are as follows:

    1) If she's willing to lease a new car from the dealer, how likely is the dealer to waive the cost of the damage as part of the negotiation? I've read that dealers sometimes waive excess wear and tear, but I'm not sure how that works or how to go about negotiating it.

    2) If the dealer will NOT waive the damage, is there any chance that they would roll the cost of the repair into her new lease?

    Thanks!
  • vorare,

    It depends how much damage there is. As for rolling costs into the new lease, it can theoretically be done with a small amount and excellent credit.

    I have seen car dealers in this spot say they will "waive" the additional damages on the car you're turning in, only to make up for it on the price of the new car being leased.

    The best thing for you to do is get the current vehicle appraised by several dealers (including, if you want, the dealer you plan to get the new car from--you can even give them the last option for your convenience, and as a courtesy).

    THEN, separately, research what you should be paying for the new car being leased, and negotiate until you get to that number (or as close as you are comfortable with/have time for).

    By treating the two transactions separately, it will be easier for you to get maximum value for each (whatever that happens to be).

    Please let me know if you have any questions.

    Regards,
    Danny
  • robtroxelrobtroxel Posts: 103
    Follow Danny's advise. You will pay dearly otherwise.
  • Hi car_man,

    Could you please let me know the current money factor and residual rates for the:

    civic ex-l with navigation - 4 dr sedan

    and

    civic ex without navigation - 4 dr sedan

    Thank you very much!!!
  • Hi car_man,

    Could you please provide the 36MO/12K MF and residual for the LX Sedan . Trying to negotiate a lease for my elderly mother and need to make sure she is getting the best deal.

    I have this for the EX but need to confirm for the LX
    36 Month – Residual 62% of MSRP – .00081 Base Rate

    Thanks so much!
  • Hi there. I'm 99% ready (and a little sad) to trade in my 2010 Acura TL and jump into a 2012 Civic EX with Nav. Gotta save some money. MSRP would be 22755. I believe one quote I got was selling price of 21,028. I can figure the financing, but if you could give me the 12 and 15k residuals for 36 months and money factor for top tier credit it would be greatly appreciated!

    Also since my trade will be worth more than the new car, I won't have to pay sales tax on the Civic right? This is New Jersey. I know you generally pay the difference....(New car worth 30g, trade in worth 10g, you pay tax on 20g).......So no tax makes sense here right?

    I'd really appreciate the info. Looking to do something this week. Thanks!
  • robtroxelrobtroxel Posts: 103
    edited February 2012
    The latest Civic is a real mess! Honda knows it , we know it, and you should study why. Honda has made the unprecidented move to redo this car ASAP. If I were you I'd either go for a Hyundia Elantra (Can't believe I'm telling you this but Hyundia is the right choice). Otherwise you can extend your current lease from month to month till youi get a look at the revised Civic due out in late fall. You'll also get a mileage allowance per your original lease terms.

    We have an 09 Civic EXL navigation with a lease expiring in July. We are going month to month till we see if Honda is serious about fixing the new Civic..other wise it is on to another brand. Also consider the Buick Verano. It will be the fist time in 20 years and 10 Hondas, but we already moved away from the Accord and may follw suit with the Civic being replaced too. Honda has lost it's way on Accord and Civic!
  • Really? It seemed some things changed on this model from the reviews I read, but I didn't get the feeling I should "stay away".....Why? What did they screw up?

    I don't have a TL lease...it's a purchase....trying to save money and lower payments as soon as possible. I'd like something sorta small and somewhat sporty if I could. I was considering a Hyundai Veloster...Briefly thought about an Accent. Do you have any other suggestions for a car priced around 21g including Nav?? Thanks!
  • Here you go blurry_image. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Civic Sedan EX-L with Navigation and 15,000 miles per year are .00081 and 56%, respectively for consumers who qualify for its top credit tier.

    The money factor for a lease of a '12 Civic Sedan EX without navigation would be the same, but the residual value would be 60%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here's the information that you're looking for dolsey01. Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Civic Sedan LX with 15,000 miles per year are .00081 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi dan36124. Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Civic Sedan EX with Navigation and 15,000 miles per year are .00081 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    I believe that in New Jersey you do indeed only have to pay sales tax on the difference in value between your trade and your new vehicle, even when leasing. Just make sure to have the dealer cut you a check for any equity that you have in your TL rather than using the proceeds from it as a down payment for your lease.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks Car man!

    I really have reconsidered after reading more reviews about the Civic sucking this year....I may be looking at the Prius now. Probably a better move at this point.

    Though for whatever it's worth, a dealer confirmed for me on a purchase, I wouldn't pay any tax if the trade in was valued higher than the new car....A lease is different apparently!?

    Thanks again for the numbers!
  • nyccarguynyccarguy Stamford, CTPosts: 7,111
    You said you are looking to save money by trading in your TL & leasing a less expensive car, right? Have you thought about the significant amount (many thousands) that your TL has depreciated. You were looking for a loaded civic w/ NAV? Why not look into a more basic LX model if you are really trying to downsize & save money. A Prius?

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

This discussion has been closed.