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2013 and earlier-Honda Civic Lease Questions

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Comments

  • carsavicarsavi Member Posts: 4
    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
  • tomtom18tomtom18 Member Posts: 8
    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 Member Posts: 699
    Tomtom - pretty good deal - pull the trigger. Great job!

    Bill
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • gmanusmcgmanusmc Member Posts: 699
    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
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • s_starks_stark Member Posts: 18

    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 Member Posts: 1
    edited January 2014

    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!

  • mastermaybemastermaybe Member Posts: 11

    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 Member 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 Member 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 Member Posts: 160

    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

  • kyfdxkyfdx Moderator Posts: 235,188

    55% residual on the 2014 EX-L w/NAV. I don't have MF for this model.

    2013 Civic EX 36mo, 15K/yr lease

    .00011 MF and 54% residual

    The 2014 Civic likely has a pretty high money factor and few incentives... It may be a lot more to lease.

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  • g6leaserg6leaser Member Posts: 160
    edited January 2014

    2013 Civic EX 36mo, 15K/yr lease

    .00011 MF and 54% residual - Is this for COUPE or SEDAN, interested in SEDAN.

    Negotiated out the door price of $212.18/month for the EX with internet sales dept. - want to make sure math is right. When i do it I'm getting $220...

    MSRP 21,605 Sale price $19,100 - sister in law wants to put down $1,500.

    DMV 229.50
    NJ Tire Tax 7.50
    Doc Fee $399 (way high, right?)
    Acquisition Fee $595
    Tax $568.88

    something seems off to me here, kyfdx can you assist? As always - THANK YOU!!!
    -Note: they provided me the wrong residual before, that's why numbers are off.
    Now they are quoting $242/month - but when I run the numbers I get $233/month

  • kyfdxkyfdx Moderator Posts: 235,188

    Those numbers are for the sedan..

    All of the fees and taxes add up to around 1800, minus the $1500 from your sister and plus the first payment ($224).. so, I added $524 to the selling price to get a CAP cost of $19624..

    At that CAP cost, the payment is right around $224/mo, with $1500 due at signing (which would include the 1st payment) $1500 due at signing, then $224 for 35 more months.

    Yes, $399 seems like a high doc fee, but is that offset by a low selling price? I don't know, as I'm not actively shopping for a Civic.. you have to make that determination, yourself.

    regards,

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  • g6leaserg6leaser Member Posts: 160

    Thank you so much kydfx, when I run those same numbers I'm getting $224.47 + $15.71tax = $240.18 - am I included tax twice with my lease calculator? Is it $224.47 straight up?
    Thanks again!
    ER

  • kyfdxkyfdx Moderator Posts: 235,188

    I added in the tax you quoted in your first post. Which makes sense, as you pay the lease tax upfront in NJ (or, roll it in to the payment). So, the $224 should include tax.

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  • g6leaserg6leaser Member Posts: 160

    Thanks again kyfdx!

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