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2013 and earlier-Honda Civic Lease Questions
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Comments
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?
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!
Good Luck but please take your time. PS I don't think you can get a 10 K yearly lease with Honda credit.
Car_man
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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!
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
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Car_man
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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.
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
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?
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.
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!
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
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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!
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!
**All with 15k miles please.**
EX Coupe Nav
EX Sedan Nav
EX Coupe no Nav
EX Sedan no Nav
I seem to be getting different residuals from places. And I like your .00065 money factor, but I seem to be getting .00130 and not sure which is right. Thanks very much!
What is the current residual and MF on a Honda Civic Ex sedan? 12,000 miles/year?
Thanks!!!
This is for a 36 Month 12K Lease on LX Automatic:
MF: .00130
Residual: 62%
MSRP: $19,425 Invoice: $17,955
Sale Price: $17,421 (I believe there is $400 in dealer cash so this is really only $134 below invoice).
We rolled in the acquisition fee into the cap cost so the actual cap cost was 18016.79.
Out of pocket I paid the first month, BS dealer fee and registration.
The base monthly payment ended up at $205 + tax.
Hope this helps.
Car_man
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Its residual values for 36-month, 15k leases of these cars are 57% for the Coupe EX without Nav, 55% for the Coupe EX with Nav, 60% for the Sedan EX and 58% for the Sedan EX with Nav.
Car_man
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Car_man
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1. How do I figure if $235 is ok considering my credit and what I have to put down?
I don't understand the mf and how to calculate ON MY OWN what a fair monthly should be. I just know to get the gross cap as low as possible and then I need to find the residual ( 3. how do I do this for a 3yr lease? not sure how to) and 4. find out the the "rent charge" to find the monthly cost. I don't get where the interest number or "mf" comes into play.
Any feedback is truly appreciated!! It's all so confusing to me , even after reading alot about it. I'd like to lease asap and wish I knew if I should try and do it today, before the end of the month. I doubt I'll reach anyone out there today though! Whenever I do, Thanks in advance for your thoughts.
-Kevin
Once we have this info we can play with the numbers to see approximate what sort of money factor you are being charged.
Car_man
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Thank you
Cynthia
i am planning to lease a 2012 CIVIC LX , can you please provide me with the residual value for this model for April?
Thanks
I just leased one today in ny and was given 12044 . I hope this helps you!
Cynthia
As an aside, I"ve completed my deal although after negotiating the invoice at 18000, when I get in to the dealer the gross is listed as 18770 and I"m told it included acqusition. I thought this was included in the amount negotiated- isn't it usually? 18770 seems high as a gross! also I gave 1000 down only and expected the monthly fee to include the taxes b/c he said it would. The dealer paperwork had the adjusted cap as not 1000 but almost 400 b/c he said the 1000 went to taxes and the remainder was 400- yet the monthly includes taxes! (214 per mo w/a 3% finance) I couldn't understand this and still don't! It seems I got taken. Is this how it goes? How can I be paying taxes twice? thanks
Cbm26
The money factor for an Si would be the same, but its residual value would be 60%.
When negotiating your deal make sure to take advantage of the $500 cash incentive that is available on this car.
Car_man
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Compared to Cruze LTZ with nav (lowest I got was 0 down and $338 a month).
Focus Titanium with Winter, Nav, and parking package (Lowest was $300 down and 351 a month),
Elantra ($0 down and $351 a month for 2012 and about $10 more for 2013). Hyundai charges a $400 disposition fee too. Honda has no disposition fee and $1500 of damage credit included. Very easy process. We liked the Elantra best, but the deal on the Honda was way better. Really, all 4 of these cars are really nice.
Hope this helps some people.
It's great that the dealer was able to finance you at Honda Finance's "Super Preferred" credit tier. Just make sure that they are charging you the .00130 money factor.
It's difficult to say how willing other captive finance companies would be willing to work with you if you recently filed for bankruptcy. If you've already been approved at a good tier through Honda Finance, you may want to stick with them.
You generally cannot lease a vehicle form month to month, but...if you already have a lease some banks will let you extend your deal at your current payment for a while month to month.
Car_man
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Car_man
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When negotiating your deal on this car, make sure to take advantage of the $400 dealer cash that is currently available on it. That's not a lot, but it's better than nothing.
Car_man
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Option 1: Civic LX is $185 a month 15k miles a year. Dealer buys out our current lease. Nothing else down and Honda makes our first payment.
Option 2: Civic EX is $230 a month 15K mile a year. Dealer buys out our current lease. Nothing else down and Honda makes out first payment.
Option 3: Stick with our current 2010 LX and wait for the restyled civic.
The lease prices seem good but I am not sure if I should wait or not. If we were to lease is the ex worth the extra $45 a month. Were are currently have just over a year left on our lease ($170 at 15k miles per year). Thoughts anyone. Thanks
I don't know the money factor or residual but seems to be a good deal. What do you guys think?
MSRP=$19,425 ( 2012 Honda Civic LX 4 door Automatic)
Discount= $1,425
Acquisition Lease Fee=$595
IA Sales Tax=$304.43
Tilte Fee= $25.00
Documentation fee=$75
1 year license paltes=$232
Net Capital Cost=$19231.43
Money Factor= 0.000670
2yr/24months lease
12,000 miles per year
Residual 67%='s $13014.75
Monthly Payment= $280.63
This figured with absolutely zero money down, and do not have to make a first payment. You will only have 23 payments over the course of the lease. Is this fair enough? thank you.
Thanks,
Chris
Car cost: $20,969
Bank lease fee: $595
Title/registration fee: $125
Doc fee: $329
Residual: 59%
Money factor: .00077
It worked out to $276/month for 36 months. No money down. First month's payment due at signing.
Does this sound reasonable?