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2013 and earlier-Honda Civic Lease Questions

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Comments

  • gmanusmcgmanusmc SoCalPosts: 436
    Zero drive off aka zero due at signing means you sign the lease contract and take possession of the vehicle. The 175 with 1200 drive off offer you received equates to about 210 with zero drive off. You should be able to get the LX for around 180-200 with zero due at signing (36 mo/12k miles).

    Bill G
  • That clarifies things, thank you.

    So, today

    capital cost 16800
    Money factor 0.0005
    Lease 12000/year for 36

    Monthly 168/not including tax....

    drive off 1200

    Is this a deal I should take? :/
  • gmanusmcgmanusmc SoCalPosts: 436
    I am assuming this is an LX - what is your tax rate and are you in a state that taxes only the monthly payment? You are in a good position for an end of month deal. Are you dealing with multiple dealers? Competition really helps the negotiation process.

    Bill
  • It's in California...
  • gmanusmcgmanusmc SoCalPosts: 436
    Tax rate is most likely between 8-9% - make an offer of 185/month including tax and you pay the first payment (185) at lease signing. I've just been estimating this - what is the residual percentage they are quoting? I have been estimating about 58%. If you can sit on this til fri or sat, you'll probably get their best deal.

    Bill
  • Bill,

    I received the offers below from my first dealer:

    2013 Honda Civic LX Coupe (Manual):
    Selling Price 15050
    Add #1 790
    Total Inc Acc. 15840 (Invoice - $17497)
    Trade Allowance 0
    Cash Difference 15840
    W.T.& L.A 6.5
    Electronic Fee 89.95
    Dealer Fees 699
    Total Taxable Amt 16635.45
    Lemon Law 2
    Miami-Dade Cty Tax 50
    FL Sales Tax 998.13
    New Tag Fee 425
    Amt to Finance/Lease $18,110.58

    And for:
    2013 Honda Civic LX Coupe (Automatic):
    Total Inc Acc. 16580 (Invoice - $18238)
    W.T.& L.A 6.5
    Electronic Fee 89.95
    Dealer Fees 699
    Total Taxable Amt 17375.45
    Lemon Law 2
    Miami-Dade Cty Tax 50
    FL Sales Tax 1042.53
    New Tag Fee 425

    Amt to Finance/Lease $18,894.98

    The difference between invoice and sales price is $1,657. Can I still expect to get less by comparison shopping? Also, I have not asked about the graduate discount or flex pay yet which could also reduce the price. That may also help.

    Savi
  • so today, I negotiated a deal with 196 a month, tax included and zero dollar drive off for the Civic LX sedan automatic. 36 month /12k a year. Should I go for this deal? Thank you.
  • No, the dealership is taking care of the documents, tag, registration, etc. It is $0 drvie-off.
  • gmanusmcgmanusmc SoCalPosts: 436
    tomtom - sounds about where it should be but if I had the adjusted cap cost, lease money factor, and residual percentage, I could tell you for sure.

    Thanks, Bill
  • gmanusmcgmanusmc SoCalPosts: 436
    Savi - the pricing sounds decent until that dealer doc fee (699) is taken into consideration - that's a killer. I can give you a better opinion if you can provide the adjusted cap cost, lease money factor, and residual percentage. Also, it looks like in FL, you are required to pay sales tax on the adj cap cost, not just the monthly payment, is that correct?

    Bill
  • Hi Bill,

    This was the dealers response:

    money factor - .00010

    residual percentage - 54%

    "adjusted cap cost can be structured in several different ways depending on how you use the factory incentive , any start up money or down payment , whether you need a new plate or have a transfer plate ( how much is estimated for plate ) etc.."

    What should I be aiming for on the adjusted cap cost? I really don't know about the sales tax on the adjusted cap cost.

    Once the sales price has been negotiated can I continue to negotiate the lease terms via email or must I go in and sit w/ the dealer?

    Savi
  • The deal is

    $17,170 capital cost
    $199.15 a month tax included
    $526.60 drive off

    Drive off covers first month and document and fees

    Residual is 57%

    Do I take this deal? Thank you.
  • gmanusmcgmanusmc SoCalPosts: 436
    Tomtom - pretty good deal - pull the trigger. Great job!

    Bill
  • gmanusmcgmanusmc SoCalPosts: 436
    Savi - ask them to provide you the adjusted cap cost based on zero drive off. This figure will be on the lease agreement you will be required to sign, so an up front dealer should have no objection to giving you this info.

    Bill
  • I posted this in the wrong forum, so here it is again:

    Thinking of leasing the civic lx 2013, no dealer add-ons. MSRP was 19,755. There was a special of 2k down and 159/month (excluding ttl and dealer fees). I am new to leasing so a lot of the numbers are confusing to me, but would love some input.

    In the end, they quoted 195 including tax (excluding title, license),

    I have a trade in that they valued at $500 (started at 250) Would put $500 cash down (though I'd rather not put anything down). The money factor was .00011. They discounted the MSRP to something like 17,600; Residual Value: around 11,260 (I believe it was 57% They didn't let me keep the worksheet -- next time I'll take notes). It's in las vegas, so the sales tax is 8.1% (though I'm from LA and would rather register it there) The $500 down would cover first month and the rest goes towards cap cost reduction (I think that's partially how they got down to 17,600, but honestly I can't remember all of the numbers, so it could be more than 17,600). Doc fee: 499; acq fee: 599 (these are rolled up into the lease price though -- I tried to get them lowered or waived, but he wouldn't budge on those -- but it was my first time in, and I haven't yet called other dealers). tier 1 credit btw

    Is this a good deal?

    By the way, I still think they valued my trade too low -- kbb is 1341, edmunds is 1140 (something around there), so I was hoping to get closer to 1000 for it as a trade in and not put any money down. It's a 1997 nissan maxima GLE with 78k miles in ok cosmetic shape, but still runs great and is very low mileage wise -- I just want a nicer car.

    I'd be happier with $750 trade in value and just pay first month's payment, and would like to get it down closer to 180 including tax (I'm from LA and just visiting family in Vegas, so I would register it in LA, and tax there is 9%, though I'd be fine with a paying the difference for LA and having it be a bit over 180).

    Also -- question: they also told me the money factor is .00065 in LA -- this confused me -- why can't I use the money factor where I lease instead of where I register? Is it because the tax is based on where I live/garage the car? Or...?

    Is 165-170 plus ttl doable?

    What is a good lease deal at this point?

    Thanks!

  • hpeezyhpeezy Posts: 1
    edited January 3

    Hi everyone.. here's the offer I'm considering/negotiating:

    Today's date: Jan 3, 2014
    Location: Los Angeles, CA

    2013 Honda Civic Sedan LX

    Money Factor: 0.00011
    Residual: 57%
    Term: 36 months
    Mileage: 12k/year

    Selling Price: $17,299
    Adjusted Net Cap Cost (including $595 Acquisition Fee) for zero drive off: $18,456.93
    Monthly: $203+ 9% tax = $221

    They've told me this offer is only good until Jan 6.. so should I assume that they've already accounted for the $800 dealer cash incentive (which expires on Jan 6)?

    Is it true that with zero drive off I should be able to get $180-190 incl tax?.. That would mean a selling price of about $1400 below invoice (plus the $800 dealer cash incentive)

    Also.. in general, how 'strict' are they when they say certain offers or incentives expire on a certain date?.. Is it pretty flexible or should I be trying to get this deal done asap?

    Thanks for any advice!

  • hello all:

    just based upon the dialog here, is it reasonable to request a 14' EX Sedan with 15k for $225 and $0 drive off?

    thanks a ton!

  • garyr15garyr15 Posts: 2

    Earlier today I went to the Honda dealer in New York. Before I walked into the dealership me and the internet salesperson agreed on 23,000 with destination included on the Honda accord sport (12k/36). I was going to pay the tax and fess upfront with 0 down payment. I ended up changing my mind and decided to go with the 2014 Honda civic ex. the salesperson tells me that the payments should be around the low 300's/month. which I thought was decent even though I expected it to be at most 250/month. After agreeing to go with the civic, they ran my credit. and said that my payments would be around 500/months. than they said around 450, than it changed to 380/month with 1500 down....I feel like this whole process was a waste of my time. I knew my credit wasn't that great. but I still think that's a little high especially with a down payments.

    I need some advice on this.

  • garyr15garyr15 Posts: 2

    @mastermaybe said: hello all:

    just based upon the dialog here, is it reasonable to request a 14' EX Sedan with 15k for $225 and $0 drive off?

    thanks a ton!

    its possible if you have perfect credit and if you pay tax and fees upfront

  • g6leaserg6leaser Posts: 48

    Trying to help my sister in law lease a new 2014 Honda Civic Sedan EX-L CVT Sedan with Navigation - MSRP $25,030 (includes $790 destination) 36 months / 15,000 miles. If I can negotiate the price to $23,800 (about $500 over invoice). She would like to only put first month down but could go up to $1,500. Does someone have the money factor / residual for the 2014 Honda Civic EX-L CVT w/nav for 36mos/15,000 miles. What would a reasonable lease price with those figures - NJ Sales Tax 7%, NJ Motor Vehicle 275, Doc Fee 269. Any advice would be greatly appreciated.

    Note - She went to the dealer with her dad and was quoted $249/month on a 2013 Civic EX w/o navigation MSRP 21,065 (don't know what negotiated car price was) same 36mos/15,000 miles with $1,500 down. Dealer is going to waive her remaining 4 2011 lease payments on her current Civic.

    Thanks! ER

This discussion has been closed.