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2013 and earlier-Honda Civic Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey ihitcows. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2013 Civic Sedan Si with 15,000 miles per year are .00047 to .00106 (they vary by state) and 60% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey indygreg09. Please see my previous post for the money factor information. The 36-month, 12k residual value for a '13 Civic Sedan EX-L is 59%.

    By the way, there is a $500 cash incentive on leases of this car right now. Make sure to take it into account during your negotiations. I personally would shoot for a selling price of around invoice minus this cash.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • cheme24cheme24 Posts: 4
    Hey guys, I am pretty new to leasing. I have been emailing with a few dealers and I was able to get some to lower the price. For example one guy first asked for $19,200 for a 2013 Civic LX automatic sedan no options and 36 month lease. I told him that I was talking to a few other dealers and they offered me better prices and I offered him $17,200. He budged down to $18,423 and said that was his invoice price and could not go lower than that.

    Could it though? How can I get him to budge more? Any other advice? I am first trying to negotiate the selling price and then start talking about other aspects such as money factor.

    Thanks to anybody who helps me.
  • cheme24cheme24 Posts: 4
    Where could I find the information for this incentive? Does it also apply for the LX model?
  • jipsterjipster Posts: 5,345
    Well, it's my opinion you won't get the best deal by email. You'll get the best deal by going into a dealership ready to buy. I'd go into 2 or 3 dealerships, test drive a civic, tell them what you want to pay. Or, do the test drives,then make offer via email if you are more comfortable with that. Most of the dealerships I've dealt with won't even give me a quote via email. They just write to come in for a great deal.

    If dealership can't meet your price...walk. If they can go lower, they'll stop you before you leave, or call you back later in the day.

    $17,200 is pretty low from what I've read here. Depending on the area you live in, the dealership may or may not be able to go that low. Sure doesn't hurt to try
    though. Seems like you should be able to get under $18,000 without too much difficulty.
  • cheme24cheme24 Posts: 4
    I recently got an offer for the selling price of a 2013 Honda Civic LX sedan automatic to be $17,900. Is this a good starting point to a deal?
  • smart231smart231 Posts: 2
    edited July 2013
    36 months lease with 12k. From 3 dealers, I have been quoted around $235 - $250 a month with nothing due at signing and everything rolls into the monthly payment. Its $215 a reasonable amount to aim and ask for?

    Edit: Civic LX
  • gofishgofish Posts: 24
    Just posting what I’m considering for a one-pay 3yr/36k lease of either a 2013 Civic Sedan LX or EX. What I have so far …

    LX:
    MSRP: $19,755
    All-inclusive* one-pay (after some Honda cash incentive): $6,007
    Residual Value: $12,050

    EX:
    MSRP: $21,605
    All-inclusive* one-pay (after some Honda cash incentive): $6,620
    Residual Value: $13,179

    * includes tax, title, tags, dealer doc fee, acquisition fee, depreciation, “rent”,etc.

    I’ll post better detail if I execute tomorrow.

    BTW, this would be my second lease after a ’12 Accord I leased last year (post #4670 on Accord lease forum) which was a great deal with end-of-model-run incentives. Being a savvier buyer than leaser, I recommend those who are similar and otherwise new to leasing evaluate it against buying the car and then consider the intangibles of the difference in cash flow and the ability to simply walk away without having paid tax on the full value of the car at the end of the lease term.

    For example, for the Accord I leased last year I will have paid $7,739 over the lease term. With a residual value of $14,064 and tax on this residual of 7%, if I buy the car at the end of term I will have spent $22,787. Alternatively, if I had purchased and financed (all costs rolled in) for a typical 60 months at a rate of 3%, at the same point in time (36 months into the loan) I’d have paid $11,351 in P&I and owed a balance of $11,436. Paying off the loan then would have also totaled $22,787. In my case I preferred to lease which allowed me to preserve cash flow early and keep the option to walk away at lease-end hassle free or go ahead and buy without having paid too much versus purchasing/financing. Of course, a lower rate than 3% or a total cash buyer would save some money and may be inclined to choose the opposite. Bottom line is it’s not all apples-to-apples and includes much personal preference.
  • gofishgofish Posts: 24
    Just leased a 2013 Civic EX Sedan in silver with gray interior for 3yr/36k miles. Here are my numbers for the all-inclusive one-pay lease.

    MSRP: $21,605 ($20,815 + $790 destination)
    Sales Price: $19,100
    One-Pay*: $6,620 (the only amount paid for the full lease term in a lump sum)
    Residual at end: $13,180

    * includes: depreciation, “rent” ($11.88), doc & acquisition fees ($250 & $595 respectively), Tax (Ohio 7%), Title ($15), Tags ($52.75) and extra capital cost reduction rebates provided by Honda (-$700) due to college grad program and ???

    Upon first negotiating this lease, I asked for both sign&drive (i.e., 100% monthly payments) and one-pay (100% up front). Numbers I was initially given included $500 Honda cash. I then shopped two nearer dealers and got $158 better on the one-pay. I called my initial salesman and presented the “better” deal. He dropped $200. Then, having recently completed a Masters degree, I asked for an additional $500 from Honda for "college grad". This accounts for the extra $700 deducted from the one-pay to arrive at $6620.

    Independent of my Honda lease I will also get a nearly $600 rebate from my Citibank Driver’s Edge Charter MasterCard. This is another trick that can be done when leasing. This card lets you earn $500 per year at a 2% rate on your charge use. You can build up $1500 maximum over a 3 year moving window and use it on a new or used car, lease or purchase. If you use it on a 3 year lease, and then re-establish a new credit balance and then purchase the car for residual, you can use it again on the same car! That is once for the lease and another time for the sale. At least I think I can? I’ll find out later.
  • mitch360mitch360 Posts: 8
    Also just picked up same car in same colors on Long Island, NY. Silver EX in silver with gray interior, 3 years, 36k miles.
    Paid taxes on the 36 monthly payments, bank fee of $595., and DMV fee upfront, total of $1500. Monthly payments are $159. I had visited 3 other local dealers and monthly payments ranged from $189 to $223 for the same deal. Other dealers told me that I was not going to get a Honda Finance lease but it was. They also said that no dealer was going to sell the car for a $2000 loss ( on paper ) but that is what they did.
  • gofishgofish Posts: 24
    Good taste! :) The wheels on the 2013 EX's really look great in combo with the silver. I didn't like them so well with some of the dark paints I otherwise like. Congrats.
  • gofishgofish Posts: 24
    edited July 2013
    If you are talking about an LX sedan with automatic, I like some others here had a 3yr/36k mi lease right at $195/mo all costs rolled-in. This was for OH where the common dealer doc fee is $250, tax is 7% and title/registration totals $67.50. This was per an advertised "0 plus $159/mo".

    BTW - For 15K per year, miles were offered up front at $0.10 per mile, so an extra $900 would be capitalized in the payments. So perhaps $220+/mo in that case.
  • blueskynyblueskyny Posts: 1
    Hi,

    i am also in the market for a Honda Civic 2013. Which dealership did you use? Can you refer me, so I can get a similar price? the quotes I am getting are in the 200-250$ range :(
  • mitch360mitch360 Posts: 8
    Ask for A.K. at Huntington Honda. He uses his initials. The LX should run $139/month and the EX $159/month. Taxes , first payment, and fees should total $1500 down payment. Let me know how you did.
  • cheme24cheme24 Posts: 4
    I just leased a 2013 Civic EX and here are the numbers.

    MSRP-$21,605
    Invoice- $20,136
    Agreed upon price - $19,136
    Net Cap Cost - $21,245.5
    Residual = 0.61
    MF- 0.00106
    $0 down and due at signing
    $238/month for the remaining 35 months including everything.
    I am in Texas so the tax here was on the whole price of the vehicle and goes in the net cap cost.
    Also got a one year unlimited car washes thrown in to finalize the deal.

    I am very happy with the deal and I definitely recommend the package from FightingChance.com
  • Was the Huntington Honda Civic LX/EX deal only for July 2013 or you think its still running? Definitely interested in picking up a civic asap.

    Thanks
  • I have no idea but I would call A.K. and ask. I don't look at the ads anymore since I already leased the car. Good luck.
  • Just leased a 2013 civic hf. . 199 a month , 36 months 199 down plus motor vehicles fees total out of pocket

    Paid 90 dollars for a spare cause HF does not come with instead comes with road side assitance .

    This is from a Long Island Dealer

    I think I got a very good deal residual is 12,200
  • ihitcowsihitcows Posts: 45
    Thanks a lot! I hadn't seen that you got back to me!
    Are these figures still true for August leases? Where would California be in that money-factor range?
    ... I think the numbers would carry over into August, but, if not, what are the new terms?

    Thanks a bunch!
  • imsmarterthanuimsmarterthanu Posts: 1
    edited August 2013
    CarMan - Can you tell me what the current money factor and residuals are for a 2013 Civic LX? I'm looking for a 36-39 month lease, depending on the #'s. Thanks!

    BTW - looking at 10K miles/year.
This discussion has been closed.