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

1686971737479

Comments

  • 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: 38,518
    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.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi joey135. Honda Finance's June buy rate lease money factor and residual value for a 36-month lease of a 2013 Civic Sedan LX with 15,000 miles per year are .00074 and 60% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jipsterjipster Posts: 5,345
    Hey Car Man, where do you get your info on money factor and residual factor? You belong to a special club or something? :confuse:
  • Hi All:

    Just checking in before I ask for this price on a Civic LX Sedan Automatic:

    MSRP: 18,965
    Fair Value (and what I'm asking for) 17,215
    Residual .62
    Money Factor .00074
    Sales Tax 8.3%

    I am getting 187.38/mo. This includes destination, but I'm not certain if the Edmunds Fair Price includes dealer fees such as documentation fees.

    Finally, the buyer is a newbie in the credit world and does not have a lot of credit history. His score is 685 and mine (the co-signer) is 845. With these scores together, can we still enjoy the best deals?

    Thanks for any and all advice you have!

    Crazylost1
  • Hi All:

    Shouldn't the agreed upon value of the vehicle be just that on the Honda Lease page? The amount we agreed they would sell it to me for? My dealership is adding Honda Incentive cash to what we had agreed upon, thus inflating that number. Please help carman. Thanks!
  • moetmoet Posts: 8
    Hi All,

    Just leased Honda Civic LX last night for 36 mo. 15K/year. 0 down (paid only first month) with monthly payment of $220. I didn't quiet get the math but was comfortable with the monthly payments, let me know how I did please.

    MSRP: 19755
    Residual: 59% = 11655.45
    Money Factor: 0.00047 = 1.128%
    Sales Tax: 7%
    Agreed upon Value shows as 17947.38

    Other info:
    Cap Cost Reduction of $500 was paid by dealer or Honda Fin bringing adjusted cap cost to 19056.14
    Tire Fee of 7.50 was paid by dealer.
    Advance first month payment was $220.
    Deperciation = 7400.69
    Rent Charge = 519.31
    Total base payment = 7920

    I asked about registration, doc fee etc and apparently its all rolled in? The details I got for those on a piece of paper were this:
    Registration: 229.50
    Acquisition: 595
    Doc: 249 (which I see in actual lease agreement)
    Tire: 7.50 (which I see in actual lease agreement)
    Tax: 535.24
  • BrianC15BrianC15 Posts: 9
    I think the 15K adds a good bit to the lease. I am getting the deal below, but waiting for the final numbers. I am assuming it is close to your deal, but for 12K per year. Payment includes 9% PA Sales tax.

    Lease Quote:
    MSRP Description/Equipment Term/Miles Due at Inception Payment
    $19,755 2013 Honda Civic LX 36m/12k $0 $195.79

    Carguy, can you post the new numbers? This lease was costing me a LOT more last month with $0 down. $249 including 9% tax good things come to those who wait!
  • moetmoet Posts: 8
    195.79 for 12K sounds like a better deal than what I got for 15k. I've seen dealers typically add $15 to $20 when you go up from 12 to 15K. So in your case it may go up to 211 - 216/mo for 15K
  • jett456jett456 Posts: 33
    edited July 2013
    My niece just got a 2013 LX coupe with 15000 miles per year for 230.00 including everything rolled in and first month's payment. (Fairfied Cty, CT) Free oil changes too. The cost for the coupe is actually higher than the sedan and the residual is lower. But I think this is still a good deal.
  • ihitcowsihitcows Posts: 45
    Hiya! I'm looking for the lease figures, residual and money factor, for a 36-month, 15k lease of a 2013 Civic Si Sedan without nav.
    I was able to find last month's figures, but it seems they've changed since then. Thanks!
  • indygreg09indygreg09 Posts: 1
    edited July 2013
    I'm looking to lease a 2013 Honda Civic EX-L with 12,000 miles per year for 3 years. I could put money down if that would provide the best deal.

    What are the current money factor and residual rate on this model from Honda Finance? I would qualify for top tier credit rates. I've seen several quotes on the LX; but nothing recent on the EX-L.

    Also, what amount below invoice would be considered a solid price on this model?

    Thanks in advance for the great info.
This discussion has been closed.