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2013 and earlier-Honda Civic Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Excellent question, 3kidsinback. Marketing support is sometimes called dealer cash. This is a cash incentive that is paid by Honda to dealers when a vehicle is purchased. Honda is kicking back $2,000 dealer cash to dealers on every 2009 Civic Hybrid that they sell right now. There is a separate, additional volume-based dealer cash program out there that kicks in at least another $500.

    Make sure to take this $2,500 into account during your negotiations. This cash means that dealers can sell '09 Civic Hybrids at $2,000 under dealer invoice (you can look up the exact invoice price of the car that you want over in the New Vehicle Pricing section of this site) and it is like they actually sold it for $500 over invoice.

    If you are able to negotiate a selling price that's well below dealer invoice on the Civic that you want, you would be able to roll some negative equity from your current vehicle into your lease and have your lease payment calculated using a price that's close to dealer invoice. I always tell consumers though, you are better off waiting to get something new until you don't have any, or at least very little, negative equity.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Civic, livintheoc. Thanks for taking the time to share the details of your lease with everyone. If you have the time, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds to share your thoughts on your recent dealer experience with others as well. Enjoy your new ride :shades: .

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  • dolsey01dolsey01 Member Posts: 92
    Car_man,

    How about numbers on the Civic Hybrid? With the current $2500 incentive, it might be almost the same amount to lease.

    Thanks!!!!!!
  • pshooperpshooper Member Posts: 25
    I see that Honda is offering a zero down 12k 36 month lease on a Civic LX 4 door automatic for $249+tx this month. What would this payment become at 15K? Are people negotiating better deals than this?
  • usairusair Member Posts: 23
    best deal for Civic Hybrid I got is $ 229 pm 229 down. anyone doing better, I am looking to be within $ 199.00
  • vorarevorare Member Posts: 3
    Does anyone know what incentives are available in April for the '09 Civic Hybrid? Is it still the full $2500 ($2000 marketing support + $500 volume)?

    Also, given the incentives that are available, what's a good "target" cap cost for negotiation purposes? I've got first quotes from the dealers and the cap cost has ranged from around $20700 to $21150. I saw on the buying board that some people got the pre-tax/fee cost down to $19,800 -- is that reasonable?

    Thanks for any help -- this is my first time leasing so it's all pretty new to me.
  • aschmittyaschmitty Member Posts: 5
    Hi Car Man, What are the current money factor and residual values for a manual 2009 Civic LX with 10k miles/year 36 mo. lease? I'm in the Chicago area. Thanks!
  • mikki47mikki47 Member Posts: 1
    quoted $298 month/ $1,500 down/ 12 k miles year/ 36 months, for a 09.civic ex-L coupe automatic w/ leather seats Can anyone help? in PA
  • vorarevorare Member Posts: 3
    Just a follow up for anyone that's curious. Ended up getting the Civic Hybrid (no nav, no leather) with a pre-tax cap cost of around $19850. With nothing down but first, doc, & title/plates, the pre-tax monthly worked out to around $212.
  • jeanrosenfjeanrosenf Member Posts: 3
    What dealer did you get that from? Thanks.
  • jeanrosenfjeanrosenf Member Posts: 3
    what dealer did you get the $229. from? thanks.
  • jeanrosenfjeanrosenf Member Posts: 3
    Dealer?
  • usairusair Member Posts: 23
    southpint honda in Durham NC
  • dolsey01dolsey01 Member Posts: 92
    Just wrapped up a 36M12K lease on a Civic LX Sedan Auto

    Selling price: $16038
    MF .00225
    Residual 62%

    Payment $214 including 7% sales tax.

    Total out of pocket = $214 first month plus BS $439 dealer fee + tags = $750. I live in MA but this deal was for my Mother in Florida. I could not believe ALL the surrounding dealers get this BS dealer fee and it ranges from $400-600. In Mass, I was complaining about $149 doc fee but I guess we have it good here.

    Maybe not the best deal but it did it all over email and it saved me a plane ticket and car rental for a weekend so I am pretty happy. Probably the easiest lease I have negotiated and the second one in the last 3 months.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey dolsey01. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Civic Hybrid with 15,000 miles per year are .00250 and 59%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, vorare, the dealer cash incentives that you mentioned are indeed still available in April. Shoot for a selling price as close to dealer invoice as possible and then have the dealer subtract the available dealer cash.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aschmitty. Honda Finance's current buy rate lease and residual value for a 36 month lease of a 2009 Civic Sedan LX with 12,000 miles per year are .00250 and 62%, respectively. I haven't seen the residual values for leases of Honda division vehicles through Honda Finance with only 10,000 miles per year. It might now lease Honda models with that few miles. If it does, its 10k residuals are likely 1% higher than its 12k resids.

    When negotiating the capitalized cost for your lease, make sure to take advantage of the total of $1,000 dealer cash that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    The Civic is a heck of a car for $214 per month including tax with nothing down. You did a good thing by helping your mother out. Thanks for sharing the details. It sounds like the dealer was fairly easy to work with. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of this site and tell others about your experience with them.

    I hope that your mother enjoys her new ride.

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  • dolsey01dolsey01 Member Posts: 92
    From my post above, my MF on a Civic LX was .00225 and Honda right now is not offering any leases less than 12K.
  • utlonghornututlonghornut Member Posts: 1
    I am new to the leasing game and not really sure how I should handle it. I went to the dealership today and discussed leasing or purchasing a new Civic LX. They knocked down the price on the 2009 Civic LX 4D Sedan from $18,255 (MSRP) to $16,500, which seemed like a fair offer to me. We started talking about leasing and he made me the offer of $0 down, $249 per month. Seemed like a good deal to me but I guess it's a manufacturer's deal right now, so maybe I should go lower?

    Just wanted some advise on how to go about this: should I call around other dealers and try to negotiate a lower price? Is this overpaying or would it still be considered a good deal? Also, I am sure this is pretty obvious, but this is my first new car purchase, so any general advice about how to approach this would be greatly appreciated.

    Thanks!
  • dolsey01dolsey01 Member Posts: 92
    Based on a selling price of 16,500 a "no money down" lease which is really the first months payment plus tags and any dealer fees, your pretax payment would be around $214.

    They can certainly do better than Honda's advertised lease offer. Go back a few posts are read mine regarding my recent lease. My pre-tax payment was $200

    Call or email around, get the lowest selling price and then have them calculate the lease payment based on that price. The MF is .00225 and residual for 12K is 62%.

    Honda Finance's current promotions are good though 5/4.
  • bostonbenbostonben Member Posts: 71
    I had this same tactic applied to me with an internet quote. Very good list price and OTD price with fees, but the lease numbers just don't add up according to my spreadsheet (which can accurately duplicate the numbers from the Honda specials using the .0025 MF and 62% residual of MSRP including delivery). When I asked for details from one, they told me I would have "come in and speak to the sales manger for those numbers," as if they were derived in a magical black box. Be persistent and get all the numbers and do the math yourself (it's not too complicated if you have all of the key variables set constant by the dealer). I have been using this spreadsheet: Link
  • bostonbenbostonben Member Posts: 71
    Boston Area

    The most detailed lease offer I have received for a Civic LX AT is $190.84 all in per month with only fees and first month's payment due at signing.

    Details:
    Selling Price: $16,023
    Term: 36 months
    Mileage: 12,000 miles per year
    Money Factor: .00225
    Residual: 62 %
    Due at signing: $1243.09 (Acquisition $595; Tax on fee, $29.75; Title/Sticker/Plates/Doc Fee, $434; first month, $190.84)

    The lowest selling price I have recieved is $15,534 and I think I can get that down to $15,300. Based on the that, the monthly payment would go down to $175 tax included. Not bad! Note, this confirms the .00225 (not .0025) MF.
  • bostonbenbostonben Member Posts: 71
    Car_Man

    Curious to know if Honda is supporting a 24 month lease on the Civic LX AT. If so, do you know the MF and residual? Thanks.
  • m2701m2701 Member Posts: 3
    Hi Carman,

    I am considering a 36 month 12K mile lease on a Civic EX-L or Hybrid. I would greatly appreciate it if you could provide the current MF and residual. From other posts it looks like it might be .00225 and 62%?

    Also, can youo confirm if the above MF and residual can be combined with the current $2000 cash on the car?

    Thanks in advanvce

    -Matt
  • rmayfieldrmayfield Member Posts: 1
    Hello,

    I'm new to the leasing game and after just visiting my local Honda dealer in central NJ I came away from the dealership with this offer:

    My credit is 725
    I wanted a no money down lease

    their proposal

    0 down 36 months @260 per month

    Sticker price - 18,725
    Selling price - 16,887
    price adjustment (to cover 1st payment and fees) 667.00
    adjusted selling price - 17,554
    assignment fee - $595
    up front tax 7% 652
    Total cap cost - 18,802
    money factor - .00225

    I thought this price seemed a little high, if anyone could help me out, I would very much appreciate if I could show up at the bargaining table a little more prepared.

    Thanks!
  • soloman37soloman37 Member Posts: 1
    I have a couple of dealers who are offering me an EX 4dr sedan w/auto; 36 month lease; 12K miles per year; $2,000 out of pocket (which supposedly includes tags, any fees, and 1st month) for $215/month.

    That sounds like a good number to me, although if someone thinks otherwise, I'd like to hear.

    Why should I care about residual (happens to be $12,818 in both cases), or interest rate, or even price of car (around $19.5K)? However they make their calculations, as long as the quote holds up, does anything but the monthly really matter?
  • alliecat1alliecat1 Member Posts: 11
    Hi all.
    This forum was so helpful that i wanted to post my deal i got it from Gardena Honda in Los Angeles.
    i did alot of emailing for this and most dealers couldn't match or beat this for the hybrid: i know the drive off was higher than most are paying, but i'm happy with this price. it is for 36 months and 12k a year.

    I was looking for either an LX AT sedan, but i found that the hybrids were so close in price because of all of the dealer cash incentives.

    I paid $1100 total drive off (including first month, taxes, dmv fees, and $554 down) and $220/month including tax (9.25%)

    Cap Cost: $19802.33
    61% residual
    money factor .00125
    monthly: $201.37
    Monthly with tax (CA 9.25%) $220.00

    good luck all!!!!
  • whatdidyousaywhatdidyousay Member Posts: 1
    Hi Car_man and everyone,
    I am coming off a lease of a VW GLI and would like to lease a honda si. I have started the dealer game and have been to my second dealership. I think I have nailed down a good deal but would like some input. This is for a Honda SI sedan with no extras. ie summer tires or anything.
    MSRP 22775
    muds, trays, stripe 1495 (yes I will be telling them what to do with that add on)
    list price 24270
    sale price 19331
    61% residual
    money factor .00225
    36 mo
    15,000
    downpayment/startups 1100
    payment 268 with tax
    My questions are what do you think of the sales price and is the residual value off the MSRP or the list price?
    Thanks for any and all advice.
  • jdw7460jdw7460 Member Posts: 1
    Car_man, do you know if the additional volume-based dealer program that kicks in an additional $500 is still effective through 5/4/09 for Honda Civic Hybrid leases? This $500 is in addition to the nationally advertised $2000 dealer cash available on Civic Hybrids through 5/4/09. Just wondered if the extra $500 offer expired at the end of April (4/30/09).
  • bigmortbigmort Member Posts: 2
    I would also like to share my lease deal on the forum. Thank you everyone for all the helpful posts!

    I was able to get the best lease price by receiving internet quotes from all the dealers in my area (Philadelphia), sending the lowest quote to the other dealers and asking if they could beat it and then repeating this two or three times. The deal I ended up with:

    36 month/12K lease for $2000 down and $187/month with all taxes and fees included. I negotiated the selling price down to $16,200 from the MSRP of $18,200. The MF and residual from Honda were .00225 and 62%, respectively.

    I think I got a pretty good deal. Also, the deal includes free oil changes for the length of the lease--just a little bonus.

    Good luck everyone!
  • sd83srrsd83srr Member Posts: 7
    bigmort, was this deal for April or May? I am looking into the same car, but, due to my lease transfer, I have to wait until mid to end of May before I will be ready to purchase/lease. Thanks!
  • ghetto2315ghetto2315 Member Posts: 40
    Leased my 08 Si Coupe for $315.00 per month, for 36-months, and 20,000 miles per year. Paid $2,500.00 out of pocket, which includes tax, title and fee. Plus, I was upside down $900 on my trade! Free oil change for the life of my lease, free locking lug nuts, and free B1 and B2 service. :shades:
  • bigmortbigmort Member Posts: 2
    sd83srr-

    I actually got in on the last day of a national deal that Honda was running. I negotiated the price below the deal ($2000 down, $189/month BEFORE taxes and fees), but the dealers were receiving incentives from Honda for leasing the Civic until May 4th.

    The saleswoman who leased me my car told me that Honda is likely going to reduce their incentives for May and June, meaning the price of the less is going to go up. You should still be able to get close to $200/month, $2000 down for a 36month/12k lease if you shop around, though.

    Good luck!
  • 09kc3b09kc3b Member Posts: 1
    Thanks to all for the information.

    I just lease mine.
    36 months/ 12K miles
    Inception fee: $1220 including doc, registration and gov fee, first month payment.
    Monthly payment $225 including tax (NJ)
  • sd83srrsd83srr Member Posts: 7
    What price (out the door) are you getting them down to? I saw awhile back that someone got them to do $16,500 OTD. I think my best option is to finance the Civic LX because my commute is going to more than double in a few months. I don't want to have to worry about the mileage.

    So, for those who have purchased a Civic LX in May, please let me know what you paid for - out the door.

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bostonben. Yes, Honda is currently providing support on 24 month leases of the 2009 Civic. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2009 Civic Sedan LX with 15,000 miles per year are .00225 and 67%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Matt. Here's the latest on these cars' lease programs. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Civic EX-L Sedan with 12,000 miles per year are .00225 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The numbers for an otherwise identical lease of an '09 Civic Hybrid are .00156 and 61%.

    The above lease program is compatible with the $2,000 dealer cash on the '09 Civic Hybrid and the $750 dealer cash on the '09 Civic EX.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome rmayfield. Even though you are new to leasing you did a very good job at getting all of the important information that you need to determine if this offer is a good deal.

    The money factor that you were quoted is right in line with Honda Finance's current buy rate for this car. That is a good sign.

    The other important variable here is this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If I was in the market for a 2009 Civic LX right now, I personally would shoot for a selling price of around $500 over dealer invoice, which would be equivalent to right around invoice once the $500 dealer cash that is available on this car is taken into account. The dealer invoice price of this model is $17,305.

    As you can see, the price that you were quoted is excellent. It is right around invoice minus the available dealer cash. If you like this car, go for it. This is about as good a deal as you are going to get on it right now.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alliecat1. I'm glad that you found this discussion so helpful. Thanks for taking the time to give back and share the details of your recent lease with everyone. Real world examples like this are always helpful for community members who are in the market for similar vehicles.

    If you haven't already, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience too ;) .

    Enjoy your new ride :shades: !

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi whatdidyousay. The dealer invoice price for the car that you are interested in is $21,020. If one subtracts the available $750 dealer cash from that it drops to around $20,270. Interestingly, the selling price that you were quoted...even after the addition of the dealer-installed options that you mentioned is even lower than that. If you can get this car for under $20,000 you are getting an outstanding deal.

    The money factor and residual value that you were quoted are right in line with Honda Finance's current program for this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jdw7460. I believe that the volume-based dealer cash programs that Honda was running in April are no longer available in May.

    Car_man
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  • ghetto2315ghetto2315 Member Posts: 40
    Car_man, Thank you for that info. More than likely my family will be adding an 09 Civic LX Sedan to the family shortly because of the information you posted. An off-topic question, but do you know or can get residual % and MF for an 09 Nissan 370Z? I am in the market for one, Thank you!
  • ashley45_91ashley45_91 Member Posts: 1
    Hi, I would really appreciate some advice. I've never leased a car before but this just doesn't seem right. I don't have the paperwork yet or the specific numbers becuse this was just the initial offer.

    I went to a dealer and was offerred this on a 2009 Civic EX:
    36month lease with 15k miles/yr
    $500 down
    Rolling about $1300 debt from my current car
    I'm pretty sure they said they were coming down to $15,900 from the list price of $19,775
    (I also have really good credit)

    with a $349/month payment

    Please help!! Thank you!
  • nickr1nickr1 Member Posts: 51
    Only the down payment and the monthly matter, correct. Some will "think about" and try to factor complicated, changing percentages of MF and residual but it's all nonsense if the dealer is jacking up the price of the car, forcing you to put too much down and giving you a high monthly offer. It's incredibly simple really, just add your down payment to the total monthly payments, that's your lease price, it's simply the total cash you give them for 36 months that matters.

    I have found local NY Honda dealers to be difficult to work with as they offer no incentives or discounts and take maximum profit for themselves, that's their job after all, right? If a dealer says to you, "well, if you put more money down your monthly will be lower," you know it's time to head for the door.

    You say you went to a couple of dealers, was the down and the monthly exactly the same between all dealers?
  • newyork4menewyork4me Member Posts: 6
    Hi Car_man,

    I hope you are ready for a tough one! Would you happen to have the details (MF & residual) on a GX lease for 12k or 15k miles?

    Thanks very much!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, ghetto2315. I haven't seen the new Nissan info for June yet. I'll make some calls and see what I can find out for you today. Post a quick reminder for me in the Z Lease Questions discussion and I'll let you know what I find out.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Ashley. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using its buy rate lease money factor. On a 2009 Civic Sedan EX, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $1,000 dealer cash that is currently available on it. You cann look up the dealer invoice price over in the New Vehicle Pricing section of this site. This car's buy rate lease money factor is .00225 for consumers who qualify for its top aka "Super Preferred" credit tier.

    I see that you are considering rolling $1,300 in negative equity from your current car into your new lease. May I ask why you are doing this? You would be better off waiting until you were less upside down, or not at all, on your current vehicle to get something new.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi newyork4me. A Civic GX? Now that's an interesting one. I have to ask why you're interested in one? How does filling it with nat gas work? I believe that there's some sort of station that one can buy or lease from Honda that gets hooked up to the gas line at your home or business. Is that right?

    As one might suspect, Honda is not currently providing any support on the Civic GX. As a result, if you were to lease one through Honda Finance right now, you would have to use its standard lease program. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Civic GX with 15,000 miles per year are .00290 and a terrible though not surprising 39%, 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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  • newyork4menewyork4me Member Posts: 6
    Thanks very much for the info! I'm actually looking at the GX because there are some pretty good incentives for buying a CNG vehicle (both at federal and state level). ($4,000 federal tax credit, and a couple states are offering 80% of the cost difference [up to $4,000 again] between the CNG and a gas engine version of hte car as rebates. They use the LX as the comparative vehicle, so it is essentially an automatic $4,000 rebate again. Total, they are $8k off.)

    Yep, you can fill it up with a Phill (the home pump that connect to the nat. gas line) or you can do it at a select few CNG stations. There is one 3 miles from where I live, so it isn't that inconvenient, and I'm pretty sure I'd be the only person I know with a CNG car, so that makes it kinda fun. As a primary car, I doubt it would be too practical unless you live in CA (i live in the midwest), but as a city car it's not too bad.
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