Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier-Honda Civic Lease Questions

1585961636479

Comments

  • Well, yes of course it's depreciated, but I've also paid the loan down over that time, so I should roughly break even or possibly make a buck or two. Not sure until I get a number from a dealer on the trade.

    I'm trying to get into something that's a good amount cheaper than the TL but still nice if possible. a 21,000 car is about 1/3 cheaper than a 33,000 car. Plus the Civic gets much better mileage, so I'm saving that way too. Plus if I lease the Civic that's cheaper than a finance. So my payment would likely go from 650 to 300-ish plus another 50 bucks or so in gas. I could get a simple Kia or something with no options, but I'm trying to get something just a little nicer. I thought about the LX but it's not that much more for the EX. I hear ya though.

    And are you suggesting the Prius is a bad idea? Too expensive? Still about 23,000ish. And the gas savings are significant. Seems like it might be worth it.

    Any other ideas for a car instead? As posted above, apparently the 2012 Civics are crap. What else might you suggest?
  • Thanks in advance for the help and sorry for the newbie questions. I've read a lot over the past few days and I have searched for answers.

    I am looking to lease a 2012 Civic EX Navi or EX-L Navi (undecided about the leather seats - could go either way), although most of my questions are probably more generic to Honda than to the specific vehicle.

    1) Is a $595 acquisition fee standard on all Honda leases? Is this ever waived? Is this ever marked up by dealers?

    2) Does Honda have a standard Disposition fee? How much? Is it reasonable to expect this to be waived if I re-lease with Honda? Is this up to individual dealer or is it set by the manufacturer?

    3) What types of things should I be aware of for how Honda classifies excessive wear and tear? Anything that stands out as unusual or different from other companies? Should I expect to pay fees if the tires are worn out at 36,000 miles? Etc.

    4) Is gap insurance included as standard in Honda leases?

    5) Does Honda allow the money factor to be bought down with a security deposit?

    6) Does Honda offer 10K mile leaes? How would this impact the residual factor?

    7) I had one salesman tell me that the Civic lease would include some of the features of luxury car leases, such as oil changes and other light maintenance (perhaps tire rotations, etc.). Another salesman at the same dealership a few days later said no way. What do you think about this? If this is real, is it a Honda thing or is it just something this dealership might offer as a promotion? The first guy made it sound like it was a standard part of the Honda lease contract.

    8) Given an MSRP of $24,225 (EX-L Navi), does a selling price of $22,100 seem like a great deal? I have seen it suggested on other web sites that anything under about $22,500 would be fantastic as this is allegedly somewhere around the factory invoice price.

    Thanks a bunch for your help!
  • robtroxelrobtroxel Posts: 103
    edited February 2012
    Well first, Don't do it! I just returned from the Chicago auto show where I visited the Honda display. The reps there were already in damage control about the crappy interior, namely the dash that looks like a fiber glass nightmare! (Not the only thing to hate) Of course we busted the reps chops about it and to his credit he spent time to tell the truth by saying the "Revisions" coming this fall will fix alot of the short comings seen now. If you can wait, you will get something much better than the current Civic. Otherwise, look elsewhere! There was a day when the Honda was the best game in town, but that disappeared the the great competition which has surpased Honda. Can you imagine, rear seat heaters in a Hyundia Elantra? They are kicking the Civics butt all over the place. Take a look at that car on one of the Fords. All far better choices.

    Good Luck but please take your time. PS I don't think you can get a 10 K yearly lease with Honda credit.
  • You're welcome dan36124. The rules for sales tax vary from state to state. I know that the value of the trade is definitely subtracted from the sales tax in my state on a lease, but your state may be different.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Interesting. One more mysterious rule and bunch of numbers for a dealer to confuse ya with! I have to find out for sure what happens on a lease, since it's pretty likely I'm leasing whatever I get.

    Also, one other question. Is there any place to look for residuals and money factors for everybody at a glance rather than needing to post here and wait? Sometimes it can take a little while to get a response, that's all. :) Are these buy lease rates and residuals posted anywhere all together?? Thanks so much for your help. I think I'm going to post on the Hyundai boards for some info there!
  • Hi brownmaxxx. Here's some of the answers that you're looking for.

    Honda Finance charges a $595 acquisition fee on every vehicle that it leases. This charge cannot be waived. you have to either pay it at signing or roll it into your vehicle's capitalized cost to make it part of the payment. Dealers are sometimes allowed to mark up banks' acquisition fees.

    I don't believe that Honda Finance charges a disposition fee, but I am not 100% positive that is the case. This charge is set by the bank that you are leasing through, not the dealer. Almost every time a lessee leases another vehicle from the same bank the disposition fee is waived if there was one.

    Honda Finance is usually fairly lenient in evaluating vehicles for excess wear and tear. Excessive tire wear is one of the things that they look at.

    Gap insurance is automatically included on Honda Finance leases.

    I do not believe that it allows lessees to make additional security deposits to buy down their money factor.

    I don't think that Honda Finance allows 10,000 mile per year leases on Honda division vehicles, but if it does its 10k residual values would be 3% higher than its 15,000 mile per year residuals and 1% higher than its 12,000 mile per year residuals.

    Honda does not include free scheduled maintenance on its vehicles. You can get a pre-paid maintenance contract, but you will have to pay for it.

    The selling price that you mentioned would indeed be a good deal on this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • You're very welcome dan36124. I am not aware of any resource that provides accurate information on manufacturers' current lease programs to the general public.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mitch053mitch053 Posts: 2
    edited February 2012
    Just leased a Civic LX in NJ and I think I did ok. 36 months, 12k miles/year, $1999 at signing plus tax, tags, registration, $139/month. Does this sound ok?
  • kelvskelvs Posts: 1
    edited February 2012
    Hi everyone,

    I'm looking to lease a 2012 Civic Coupe EX in Southern California. 12k miles a year, 36 mos. and no downpayment. The Dealer offered $230 including tax with no down on an LX (I was looking for an LX a week ago but decided to get a EX now). I'm wondering if I could get an EX for the same price or even lesser on another dealer? Mom (co-signer) has excellent credit. Appreciate your help.
  • just got a quote from honda dealer for 2012 honda civic EX with navigation and sunroof. Since my credit isn't that good(around 720). They offer me $3000 for DP, $370 monthly payment(include TAX) for 35 months leasing term, and the residual price is $13500 at the end of lease. How is this sounds? how bad of this deal? :mad:
  • dan36124dan36124 Posts: 15
    Hi Car Man - Can you post any changes from Feb to March on Civic leases? I'm still looking for EX Coupe with Nav. 36 months/15k a year. Last month was .00081 and 58%. Making sure it's the same or better this month! Thanks!
  • bostonbenbostonben Posts: 65
    Sounds like they took a hit this month for this model.

    Here's the information I am seeing in Massachusetts:

    MSRP $22,775.00
    Sale Price $19,961.18
    Residual $12,981.75 (57% of MSRP)
    Financing 0.00130 money factor

    These are the numbers for an equivalent sedan:

    MSRP $22,775.00
    Sale Price $19,982.79
    Residual $13,665.00 (60% of MSRP1)
    Financing 0.00130 money factor
  • Aloha All!

    I'm looking for some help from everyone... I'd like to lease a 2012 Honda Civic EX. Here are the terms:
    2012 Honda Civic EX (Automatic)
    24 Months
    15,000 Miles per year
    $2,000 Down at signing
    Lease through AHFC
    Selling price: $19,875.00
    Money Factor: 0.00130 (is this a negotiable rate or is it fixed by AHFC)
    Residual %/Amount: 66.00% or $14,041.50
    Monthly payment: $263.43 plus tax

    Can you please tell me if this is a good deal?
  • bostonbenbostonben Posts: 65
    The money factor is not negotiable, and it is rather high at about 3.12% equivalent interest rate.

    The selling price seems very high to me. You should be able to get this lease with ZERO down for about the same price.

    Target selling price in the Northeast is about 18,650.00, so your selling price $1200 over this. You do not say where you are located, but you should definitely shop around on PRICE only first, then get lease terms.
  • Thanks for the tip on the price... I think I'll pass on the 2012 Honda Civic EX and look for something with better terms!
  • robtroxelrobtroxel Posts: 103
    You are very well informed to take a pass on the 2012 Civic at least till the late fall redesign/fix on all the cheapo shortcomings. So sad to see what Honda has done with this car.
  • dan36124dan36124 Posts: 15
    ---reposting---

    Hi Car Man - Can you post any changes from Feb to March on Civic leases? I'm still looking for EX Coupe with Nav. 36 months/15k a year. Last month was .00081 and 58%. Making sure it's the same or better this month! Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey dan36124. Honda Finance's March buy rate lease money factor and residual value for a 36-month lease of a 2012 Civic Coupe EX with Navigation and 15,000 miles per year are .00065 and 55%, respectively for consumers who qualify for its top credit tier.

    If I was in the market for this car right now, I personally would pass on the Navigation. It is waaaay too expensive to get it integrated into this car for me. Not only does the car's MSRP jump by $1,500 when it is added, but its residual value drops by 2% as well...a double whammy. Of course it won't look quite as nice, but it would be much, much cheaper to use your phone or get a Garmin.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dan36124dan36124 Posts: 15
    Wow. I didn't realize that drops the residual?? Makes no sense. Thanks very much for the information.

    In that case, if I decided to get it without Nav, are you saying it would be 57% for a 15k a year lease?? Same money factor? I know the MSRP is 21,275 rather 22,775 so selling price would drop similarly.

    Last month the same model (with Nav) was 58% residual....Why would they drop it 3 percent this month?

    All this makes me think purchasing the car is worth the $100 a month or so more just to avoid all this ridiculous residual stuff. Much easier to figure a simple sales price!
  • dolsey01dolsey01 Posts: 69
    Hi Car_man,

    We were unable to get a deal done in Feb, could you please post the updated March numbers for a Civic LX Sedan?

    Thanks so much!
This discussion has been closed.