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2013 and earlier-Honda Civic Lease Questions

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  • kingpcgeekkingpcgeek Member Posts: 1,051
    Does anyone know the July lease numbers for a LX Coupe. Any dealer cash available?
    2005 G35 Sedan
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  • larryz007larryz007 Member Posts: 2
    Hi Car_man,

    Thanks for the information. I appreciate it. I'll pass it on to my brother. I don't know if he can do anything at this point. One thing he told me that seemed rather strange, was that if the car had 60,000 miles at the end of the lease, they would not assess him with the penalty of 15 cents per mile. He has a 3 year, 12k per year lease. Have you ever heard of this or know anything about this?

    I appreciate any information. Thanks, Larry Z
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey kingpcgeek. Here's the numbers.

    Honda Finance's July buy rate lease money factor and residual value for a 36 month lease of a 2010 Honda Civic Coupe LX with 15,000 miles per year are .00127 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing $1,000 dealer cash on this car that is compatible with its special lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Larry. I'm always happy to help.

    If your brother has a lease that only allows 36,000 total miles, I don't see how he can avoid having to pay an excess mileage penalty if he returns it with 60,000 miles.

    Car_man
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  • geojregeojre Member Posts: 12
    Hey Car Man, Is the 1k dealer cash available on an lx sedan? What is the 36mo 12K residual? By other members quotes it looks like it could be 61% ? Is the rate .00127? Thanks for all of your help!
  • dkny330dkny330 Member Posts: 31
    May be looking at purchasing a Hybrid that can get me in the HOV lane alone. Anyone have lease prices/deals for the Civic Hybrid? Am considering the one with leather and navigation. Thanks.
  • dwynnedwynne Member Posts: 4,018
    Your answers are all available on the web :D

    From the Edmunds incentives page:

    $1000 Cash to Dealer start: 07/07/2010 end: 09/07/2010

    $1,000 Dealer Cash available towards the retail purchase or lease of a new 2010 Civic (excluding GX). Cash can be combined with Special AHFC Lease/Purchase Plan or Zero Due at Signing Leases, but cannot be combined with Special AHFC APR Financing. Please see your dealer for details.


    From the Honda current offers web page on the LX auto sedan lease special:

    MSRP $19,155.00 (includes destination) ...Option to purchase at lease end $11,684.55

    Purchase option (residual) / MSRP = 0.61 or 61%

    Also in the special details they give you the net cap cost = $16,480.74, the term is 36 months, and the payment = $169. Plug those numbers into a lease calc and solve for MF and you get 0.00127 . The formula is

    MF = (Payment-((Net_Cap_Cost-Residual)/Lease_Term))/(Net_Cap_Cost+Residual)
  • dwynnedwynne Member Posts: 4,018
    I have not seen Civic hybrid lease numbers, but I can tell you TFS is doing some sweet deals on Prius leases right now. 68% residual and 0.00075 MF (1.8%) makes for really nice deals. The numbers do vary by Toyota regions, but some have even BETTER lease deals. 2 years free maintenance included as well. Folks are getting the Prius II or III for under $300 a month with little or no money at signing.

    Edmunds Prius lease forum is here: at this link
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi geojre. The $1,000 dealer cash is available on all Civic trim levels.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Civic Sedan LX with 12,000 miles per year are .00127 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • ethandethand Member Posts: 40
    What is it exactly? Is it the same as "dealer contribution" indicated in the Featured Lease details I've copied and pasted below?

    FEATURED SPECIAL LEASE: Closed-end lease for 2010 Civic Sedan 5 Speed Automatic LX (Model FA1F5AEW) for $230.00 per month for 36 months with a no capitalized cost reduction available to customers who qualify for the HFS Super Preferred or Preferred credit tier. $0 due at lease signing offer requires dealer contribution, which could affect final negotiated transaction.
    Dealer contribution may vary and could affect actual lease payment.

    Does it mean that the dealer is effectively reducing the price by X number of dollars, and that they, not Honda, is eating the cost?
  • delta737hdelta737h Member Posts: 626
    edited August 2010
    ethand,

    Please don't get hung up on things like dealer contribtion because it's absolutely meaningless and irrelavant. As a knowledgeable consumer, you should use national promo lease Ads to collect useful information such as residual factor, money factor, end of lease purchase price, MSRP, acquisition fee, excess mileage charge, and the implied selling price which may or may not be the lowest price that you can get.

    Next, establish the selling price by researching edmunds invoice pricing as well as all incentives available. Check overstock at zag.com for the lowest competitive prices in your area. Then, determine an approriate initial selling price. Don't be afraid to start low. Remember, you can always come up but never down. Next, determine what items you want to pay upfront and those items that you want to capitalize in the lease. I don't advise making a down payment because if the car is totalled or stolen, and never recovered, you may lose all or part of your down payment.

    The key to leasing is to establish the selling price first. And, from that point forward, everything else falls right into place. Remember that every leased car is a sold car. Someone is buying it and that someone is usually the fund provider (e.g., AHFC).

    There are three (3) basic equations useful in leasing...


    Gross Cap = Sell Price + Amounts Capitalitalized (1)
    Adj Cap = Gross Cap - Cap Reductions (2)
    P = F x (C + R) + (C- R)/N

    P = Monthly Payment
    F = Money Factor
    C = Net (adjusted) capitalized Cost
    R = Residual Value
    N = Term

    Simply apply these basic principles and you're on your way!

    Questions? Let me know.

    John
  • ethandethand Member Posts: 40
    Thank you for all your information, John. I'll look into the pricing on zag.com as you've suggested.

    It would appear that one of the 3 basic equations can be applied to arrive at a monthly lease payment. Can I do so to reach the monthly payment I want to spend? How would I take that to a dealer?
  • delta737hdelta737h Member Posts: 626
    edited August 2010
    ethand,

    You may want to enter a search on "lease proposal" and look for my posts (delta737h) regarding same. I've done a ton of these all over various Edmund's forums; some with extensive explanations. Basically, you need to construct a one-page lease proposal on your letter head. It must be professional looking and contain no errors of any kind. This will require researching the selling price, money factor, residual factor, etc.

    If you like, email me at

    diffeq@zoominternet.net

    and I'll be happy to send you samples.

    John
  • junooni110junooni110 Member Posts: 4
    Hello,

    This is the first time I am leasing the car and I have got the following numbers from one of the local Honda Dealers in Philly Area. This is for 2010 Honda Civic LX Sedan with Auto. Transmission. Can someone comment on it and let me know if I can do better than this by emailing other dealers in my area? Here are the numbers:

    MSRP: $19,155
    Down Payment: $0
    Term: 36 months
    Rate: 0.00127
    Residual Value: $11,684.55
    ACQ Fees: $595.

    Monthly Payment Quote: $205.06 including tax,title and registration (NJ) for 36 months with no payment, no security deposit for first month. so basically we will be paying for $205 payments for 35 months plus some dealer perks like free airport parking, free oil change and no disposition fees at the end of lease with upto $1500 wear and tear allowance and gap insurance from Honda FS.

    Thanks for reading this and your suggestions in advance.
  • junooni110junooni110 Member Posts: 4
    No takers for my post! Let me know if I am missing some information or asking in a wrong forum.
  • dwynnedwynne Member Posts: 4,018
    Right forum and right info, but you are missing the negotiated selling price (gross cap cost). That plus the dealer's doc / prep fees represent what you are paying for the car. We can compare that against invoice or what others are paying and see if you deal looks OK, poor, or super. The MF and residual at set by HFS and can't be changed, so the main variable in the lease deal is how low you can get the price, including any dealer fees. in your area the title, taxes, and other non-dealer fees should be the same no matter who you lease the car from.

    On the surface and not knowing your taxes, I would say that it is a decent deal. We got the same car a couple of months ago for a little less per month, but paid first payment, tags, and title at signing - so your deal is better (depends on taxes and fees).

    HFS has no disposition fees at the end of ANY of their leases and all include wear and tear forgiveness in them, so the dealer is blowing smoke with those "perks" which would come from any HFS lease from any dealer.
  • junooni110junooni110 Member Posts: 4
    edited August 2010
    Thanks a lot dwynne, the price is $16450 + $103 doc preparation fees. In fact here are the full details for this lease:

    Price: $16450
    Term: 36 months
    MF: 0.00127
    MSRP: $19155
    ACQ Fees: $595
    Govt Fees: $306
    Taxes: $488.23
    Doc Fee: $103
    Adj Residual: $11684.55

    so after including taxes, title and registration (NJ), total comes out to be $205.06 for 36 months with Honda is making first lease payment.
  • kingpcgeekkingpcgeek Member Posts: 1,051
    So here is how you tell if you are getting a good deal on a lease:

    Invoice of the car you are leasing: $17,706
    Dealer Cash: $1000
    Your Price: $16,450

    $17,706 - $1,000 - $16,450 = $256

    You are getting the car for $256 under invoice. You can consider this a good deal.
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • junooni110junooni110 Member Posts: 4
    Thanks kingpcgeek.

    I have another question for the same car, one car dealer is quoting me the price of $14990 for the same model and color (but they are some 100 miles from my home). Now my question is; What will be the lease payments on this car? I have asked him to send me the detailed pricing information (dealer doc fees, acq fees etc).
  • dwynnedwynne Member Posts: 4,018
    You need to include the dealer fee in with the price, as (most places) they can vary widely.

    In June, my son's LX sedan w/auto was $15,999 + $398 dealer fee = $16,397.

    In any case, adding in his fee keeps the car under invoice which is always a nice price :)
  • daryll44daryll44 Member Posts: 307
    I just tuned into this $200/month (or so) Civic Lease. Seems like a better deal than a used car. Anyway, what happens at the END of the lease? Big fees to return?
  • kingpcgeekkingpcgeek Member Posts: 1,051
    As long as the car is in reasonable condition, with only wear and tear, nothing to return the car. Honda will even forgive some damage.
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • trusaleen1trusaleen1 Member Posts: 98
    Whats the best price per month I can get on a 2010 Honda Civic LX manual transmission lease. I really only need 10,000 miles a year. I can get the car for invoice, what rebates and specials are there. I want my payment around $150 with tax

    MSRP- 17405
    Invoice- 16039
    Tax Rate is 8.75%
    Trade in Value $2000
    36 months
    10,000 miles

    Thanks
  • khan95osukhan95osu Member Posts: 26
    What are the august rates for 36month/12kmiles Civic Coupe (LX). My GF is looking to get a new one since her old lease is up and I want to make sure shes getting a solid deal. The starting offer from the dealer was $0 out the door and $238/mo, but she didnt get any details on it so I'm having her call back to get the MF, CapCost, Fees, REsidual... to see if its decently kosher. Also, does anyone know the Sept rates for the 2010 coupes?
  • crontegycrontegy Member Posts: 1
    Just saw this forum AFTER I already signed the lease. Here is what went down....

    Civic LX Auto
    MSRP=19155
    Agreed value=16000
    Aq Fee=595
    Gross Cap=16595
    Net Cap=15654.98
    trade-in=1500
    MF=.00127
    monthly payment=156.97
    term=36
    residual=11684.55
    paid nothing at signing

    Not sure if there is additional information I can share. I feel like I got a great deal but this is my first car lease. Don't feel like I understand fully the risks involved. Not sure I know exactly what the worst case scenario could be at the end of the lease. I don't plan on turning it in, I want to either keep the car or trade-in and lease another Honda. A little worried about maintaining the residual value after 3 years. Maybe some of you here can put my mind at ease about leasing and tell me how its the greatest thing ever! ;)

    But I always feel like I just got screwed whenever I leave a dealership, no matter the outcome. I feel like they are always being sneaky and not completely honest about everything.

    Love the car though. :)
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi trusaleen1. Let's assume that you were able to lease this car at $500 over dealer invoice minus the available $1,500 dealer cash.

    According to my calculations, if you were to lease a base 2010 Civic Sedan LX that has an MSRP of $17,405 and a selling price of $15,039 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $151...assuming that you qualify for its top credit tier.

    That's right around the target payment that you were hoping for.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi khan95osu. Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Civic Coupe LX with 15,000 miles per year are .00090 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • chudrok84chudrok84 Member Posts: 14
    Hello All,

    Does anyone know the residual percentage for a 3yr 36K and 45K lease on a 2010 Honda Civic DX in the NYC area? Thank you!!!
  • nealintampanealintampa Member Posts: 6
    When buy rate lease money factors are quoted in this forum, the rate that always seems to be quoted is for the "super-preferred credit tier". So for September, for example, can you quote the money factors for lower credit tiers? Thanks.
  • dwynnedwynne Member Posts: 4,018
    I never see those published anywhere. I would just get quotes from a few dealers and see what you come up with. Honda dealers normally do not mark up lease money factors so I would think for a given score they would all be the same.
  • care4carcare4car Member Posts: 2
    Got this quote on 2010 Honda Civic LX.

    Down $ 2000 ( includes down payment + DMV Reg + Deal Doc Fee )
    Monthly Payment $ 140 ( Includes Tax )
    36 months / 12 K miles a year
    Residual - $ 11,500

    Should I go for it....Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do, chudrok84. Here you go.

    Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Civic Sedan DX with 15,000 miles per year are .00090 and 51%, 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.

    Car_man
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  • chudrok84chudrok84 Member Posts: 14
    care4car,

    I heard rule of thumb do not put any down payment whatsoever. Because let's say you crash your car. You can't ever recover that payment. Even though you monthly payment might be higher, its best to give least amount of money up front. Ideally just first month and DMV fees. everything else should be factored into the monthly payment.

    Am I correct car_man?
  • kingpcgeekkingpcgeek Member Posts: 1,051
    Perfect explanation from leasecompare.com on why not to put money down on a lease:

    Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.

    For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost.

    The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider:

    - Money down is taxable
    - Take the money you would have put down and invest it
    - Put your down payment in a savings account and use a portion each month to help make your lease payment
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • dwynnedwynne Member Posts: 4,018
    You can do whatever you want, but normally it is not recommended that you put down any more money that you have to. Even do a sign and drive lease where you roll the first payment into the lease. Partly to avoid losing your up front money should your car be totalled early on in the lease. Also most captive lease deals have below market value money rates - where else can you borrow money for 3% or 2% or even 1% or less?

    The downside to rolling everything into the lease is that you are upside down (owe more than the current market value) for longer.
  • care4carcare4car Member Posts: 2
    Thanks chudrok84, kingpcgeek , dwynne for your feedback. I have not taken the lease. I have gone through leasecompare.com and edmunds lease calculator and found that purchasing the car works better for me than leasing. Hence looking for a good quote for purchasing..

    Thanks for educating me on this topic of leasing...it is not the right choice for people like me with very limited knowledge on leasing...:-)
  • dwynnedwynne Member Posts: 4,018
    Well, AHFC has a 0.9% loan up to 60 months available, so that is certainly dirt cheap. Note that the factory to dealer $1k does not apply if you take the cheap rate. So you need to see what your credit union or bank will do (mine is doing 2.99%) and see if you should take the 0.9% or not.

    Say you got the car for $16k not including taxes.

    $16k at 2.99% would be $287.43 for 60 months
    $17k at 0.9% would be $289.86 for 60 months

    $18k at 0.9% = $306.91 for 60
    $17k at 2.99% = $305.39 for 60

    So pretty much a push if your CU or bank is doing 2.99%.
  • kingpcgeekkingpcgeek Member Posts: 1,051
    edited September 2010
    Its not really any more difficult then buying a car once you educate yourself. When you buy a car you (should) negotiate by the selling price, not by payment, The same is true with a lease. Once you have the selling price of the car you can do some simple math to calculate a payment or use the great calculator at leaseguide.com.

    Determining whether to lease or buy should not come down to knowledge, it's not that tough. It should come down to are you the type of person that likes to get a new car every three years and is fine with always having a car payment, or are you the person that holds on to a car for longer?
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • chudrok84chudrok84 Member Posts: 14
    Hello, I really need this info today. If someone could help me that would be great. I live in the NYC area and I need the MF and Residual for a 2010 Honda CIVIC LX model. I have the residual and MF for a DX but not for an LX. are they the same?

    Car_man, please help!
  • kingpcgeekkingpcgeek Member Posts: 1,051
    Why don't you ask a dealer? I have never heard of a Honda dealer marking up MF's
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • rally_fanrally_fan Member Posts: 3
    What are the lease rates (money factor, residual percentage) for a 2011 Civic EX Sedan Automatic?

    I'm shooting for a $1,000 under invoice in my negotiations, is that a good aim?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey rally_fan. Here's the information that you're looking for.

    Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic Sedan EX with 15,000 miles per year are .00200 and 60%, respectively for consumers who qualify for its top credit tier.

    $1,000 under dealer invoice would be an amazing selling price for a vehicle that does not have any cash incentives available on it yet. I would think that invoice to $500 over would be a more realistic target price for an '11 Civic, but I suppose you never know...give your target price a shot and see what happens.

    Car_man
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  • billdadbilldad Member Posts: 4
    I am no math major, but I'm trying to get a decent deal. I was quoted a sales price of 19674, R/V 55%, MF 0.00090, all other fees $22.50, "out of pocket excluding DMV $1541", Doc Fee $75. I am told Lease payment with 0 down is $218/mo. But when I do the calculator it is $352. What am I missing. Any idea what I should be paying? I'm shopping in NY. I went to a local dealer and when I got there salesman said there were no 2010's left and he said he would work up a price on a 2011 which I am waiting on. That threw out all the numbers I had prepared for the 2010.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi billdad. One needs both the MSRP and the selling price to calculate a lease payment on a vehicle. Take them, along with the money factor and residual value that you mentioned, and plug them into the formula that is outlined in the following article to get a lease payment, Calculate Your Own Lease Payment.

    Car_man
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  • billdadbilldad Member Posts: 4
    Thanks. I'm looking at the calculator now. Would the MSRP go in the Vehicle Sales Price Box and then I would subtract the price that it is being offered to me from this number and that would go in Customer Cash Rebate Box. Is this the correct way?
  • delta737hdelta737h Member Posts: 626
    billdad,

    Too much information is missing (e.g., MSRP, NY Sales Tax Rate, etc). The best thing to do is for you to ask the dealer for their Lease Worksheet. This is a computer gewnerated document that will tell you everything you want to know and then some. If you like, you can email it to me at

    diffeq@zoominternet.net

    and I'll be happy to analyze it for you :)

    John
  • rally_fanrally_fan Member Posts: 3
    MSRP $21,155
    Selling Price $18,000
    Money Factor .00127
    Residual 57%
    Down payment $1500
    After tax payment: $185 a month

    Always ask for floor mats as part of the deal. But if you have a beige interior, don't bother my Accord's are trashed and even for free I didn't like them (better you get the ones from Walmart or Pep boys for $15). They're great for black and grey interiors though.

    Was the last 2010 they had.

    The EX coupe has a 360 watt stereo from the Si and is worlds better than the puny 160 watt in all non Si sedans. It also has a different suspension set up, making it more fun to drive.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Civic, rally_fan. Thanks for taking the time to share the details of your lease with everyone. Real-world examples like yours are always helpful for consumers who are in the market for similar vehicles.

    The Civic is a heck of a car for less than $200 per month. Enjoy your new ride!

    Car_man
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  • johnf101johnf101 Member Posts: 5
    Hi! I am looking at leasing but it is all new to me! A dealer has offered $1500.00 down at $241 for 3yrs/15K for the Honda 2010 Accord LX and says there are no other fees (title, tax, acq., etc). This makes the total cost after 3 yrs 10,176 dollars. How do they calculate their target figure to arrive at $10,176? Is it possible to negotiate a lower target total payment figure - say $9,000 - so that the money down or monthly payment would be less than the $1500/241??

    Thanks,
    John
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