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2014 Honda Civic Lease Questions
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Comments
The only two variables in a lease are the selling price and the MF. Finance companies set a "base" MF that the dealer can mark up, but it cannot be negotiated below the base amount.
What lease term and miles per year? Am I correct that this is for Ohio (based on your user name)?
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
The money factor we quote is the lowest offered by the bank. In theory, the dealer can mark up that rate for extra profit, but Honda dealers rarely do that. So, your negotiations should be based on the selling price, and like any car deal, watch out for "extras" that you don't need.
By knowing the numbers and being able to calculate a lease, you can often catch those "extras" that they try to hide in the lease payment.
The 2014 Civic Si Sedan (without NAV) has a residual of 58% for 36mo, 15K/yr.
The money factor is .00030 or .00079, depending on your state. $800 lease cash. (Ohio is .00030, if that is where you are)
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3 yr/12,000 miles. That is correct.
Thanks kyfdx!
The 2014 Civic Si Sedan (without NAV) has a residual of 60% for 36mo, 12K/yr.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Looking for MF and RV for Indiana
Civic LX/EX/EX-L 12k 36mnth
I assume that since I live in Indiana I will pay Indiana MF/RV regardless of where I purchase the car?
Thanks in advance!!
RV:
LX 59%
EX 59%
EX-L 57%
MF of .00030 and $800 lease cash.
RV is standard nationwide, but MF is regional. Same MF in IL and MI; MF in OH and KY is .00079.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
So based on this I want to lease from a dealer in IN, IL or MI
Thanks!!
Honda lease deals are only available based on state of residence/registration. Leasing from a dealer in another state will not help you, unfortunately.
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Got it. Thanks for confirming kyfdx!
First time user, do you know what the lease rates are for preferred tier? I live in Ohio and interested in the LX or EX. 36months, 12000 miles per year
59% residual for either trim.
.00030 and $800 lease cash. This is for top tier credit.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
I got this quote for honda civic 2014
2014 Honda Civic $179.00
36 Months 10k Miles per year
Total COD $1299.00 includes all fee’s
Taxes are included in the monthly payment.
Please comment on whether it's a good deal
We will need the MSRP and selling price, along with the state you live in, to fully evaluate the deal.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Michaell
So the 2014 Civic Sedan Si (no nav) has a residual value of 61% and a money factor of .00030? That would mean the money factor is less than 1% (.00030 x 2400). Unless I am calculating wrong that sounds like an excellent money factor. It is substantially lower from the Subaru WRX money factor which was .00188.
In addition, any suggestions on what a good deal would be for a 2014 Civic SI Sedan with No Nav? I live in Maine. Edmonds and truecar suggest 2000k below MSRP. MSRP in Maine is $23,780.
Yes, the MF on the Civic is incredibly low.
I'm not in the market, so can't tell you what a good deal would be.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
@Michaell what is MF in CA? thanks.
** Saved Money - Earned Money **
Southern CA - .00030
Northern CA - .00079
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
I have been offered a lease of $245.23 + tax on an EX for 36 months. The breakdown they are giving me is MSRP $21880, selling price of $19190+$494 inception fee(maybe doc fee,title/license)+$595 acquisition fee=cap cost of $20279.73 They are quoting me a MF of .001220 which they say is preferred tier. There is no mention of $800 lease cash and the fees seem a little expensive. Another dealer gave me a quote of fees of $348. I had countered their initial offer of $258 + tax with a cap cost of $19000 which would include the $800 lease cash and $595 acqu fee and $348 title/doc fee/tags for a monthly payment of $222.69 and that is with tax 7% in Ohio and same MF. It doesnt seem like their offer is very good. Is my offer a realistic offer? I thought I would try considering a few people I have seen on her getting $215 tax included.
Can you break down the numbers you got to get to $215? Also what dealership did you use? Its almost cheaper to fly from Ohio and drive it back. My dealer in Ohio first quoted me $258 plus tax, and then $245 plus tax. Doesnt seem like a good deal to me
The $800 lease cash is a dealer incentive, and they have likely factored that into their initial offer. You don't say how many miles/yr, so it's hard to calculate a payment.. I will say that the .00122 MF does not look right, and wonder if there is a communication issue. Honda dealers rarely mark up the money factor.
I do think that the selling price on the first offer looks fair, including the $800 lease cash. If you give me the mileage allowance (and, it's a sedan, right?), then I can calculate a payment.
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I posted the numbers a month ago. Here it is again:
With no-money-out of pocket deals, it's very easy to compare your deal with this, since you only really care about the monthly payment. As I mentioned, they sent me a check for $225 for overpayment of registration, which the dealer paid for. Nice. This was using 60% residual at the time for the EX.
Also, my money factor was 0.0003
Thanks for the info, after I posted the question I realized that you had already posted it earlier
12000 miles per year. My credit score is in the mid 600s, that is why they gave me that rate.
1st offer... I calculate $245/mo. plus tax w/.00122 MF. We don't track the lower tier money factors, so I can't really comment on if it's appropriate or not.
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Michaell, This is in NYS
The dealer came back with
Cap cost $17559.45 plus Tax $573.68
And the MSRP? NY calculates all the sales tax for he lease term up front; you can choose to pay it as pat of your initial out of pocket costs or roll it into the cap cost.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Michaell,
Here is all the info i managed to pry from the salesman
Msrp $19980.00
Cap cost $17559.45 plus Tax $573.68
2014 Honda Civic $179.00
36 Months 10k Miles per year
Total COD $1299.00 includes all fee’s
Taxes are included in the monthly payment.
NYS
What trim level is this? Looks like a pretty good deal.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
umm...i thought LX was the trim. no? Also any comment on the 10k/year vs standard 12?
Also he mentioned 500 damage forgiveness and no gap insurance
another thing is that I might be moving out of state in a few month(nj. anything i need to worry about as far as taxes/paperwork etc?
For Honda, 15K is the standard miles per year, then the residual is adjusted up 2% for 12K leases of 36 months. Honda doesn't really offer a 10K program, but if they did, the residual would be 3% higher than the 15K number.
Lack of gap insurance is a bit of an issue ... if the car is totaled for some reason, gap insurance would cover the difference between the payoff and the current value. Without it, you are responsible.
I'm not well versed on the details of tax implications of moving to another state. Are you moving into or out of NJ? I do know that in NJ, the sales tax for leases is calculated up front and either paid by the lessee or added into the net cap cost.
I still think this is a very solid deal for a good car.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
hi there. looking for the RV and MF for the 2014 Civic Coupe EX-L w/ Navi. for 36 months for 10k/12k/15k a year..northern NJ
TIA
50% for 36/15. Add 2% for 12K. No 10K numbers exist for Honda leases.
.00030 and $800 lease cash this month.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Can I please get the RV and MF for the 2014 Civic LX. It's going to be for 12k for 36 months in NJ. Thank you in advance.
36/15 - 58%. Add 2% for 12K
MF is .00030 in Southern CA and .00079 in Northern CA.
$800 lease cash.
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.00030 and $800 lease cash. 59% RV.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Whats the best deal I can get on a Civic LX in Central Illinois?
You should check the Civic Prices Paid forum, and use the shopping tools at the top of the page to get a target price.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Does this sound like a good deal? I am in NC. 2014 Civic SI (no navigation), MSRP $23,780 Cap $22,059, Residual $14,268 and MF 0.00079. 3 yr 36k lease. Monthly $253. Upfront $739 (includes 1st month and fees). Any help is appreciated
I get $245.11 pre-tax with your numbers.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Thanks Michaell but is it a good deal?
Base MF, so that's good. Only leverage you have now is on the selling price - and, I'm not in the market, so don't know what a good price looks like.
Check the "Civic Prices Paid" forum to see what the experts over there (especially @brian125) have to say.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
First time looking at a lease - trying to learn this whole process.
From a Columbus Ohio dealer (internet department) on 8/13/14:
Civic LX Sedan
Cap Cost 17,231; MF .0002; Residual is 11,788.20.
Civic EX Sedan
Cap Cost 18,990; MF .0002; Residual is 12,909.20.
Civic EXL Sedan
Cap Cost 20,517; MF is .0002; Residual is 13,412.10.
Are these good terms?
MF is the base rate; dealers cannot adjust the residual.
The next step is for you to secure the best selling price in order to get a good monthly payment.
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Could I please have MF and residual for a 2014 Civic Si Sedan (without NAV) in KS, and in MO? 36 mo/12K. I live in the KC area, on the KS side, but might be able to do MO if it is a better deal. Dealer told me .00071, but from reading the posts here, it looks like some states are .00030. Price given was $23,750 with the pro pack appearance package (all weather mats, mudflaps, wheel locks, moonroof visor). They quoted a 60% residual.
((Part of my concern is that I have negative equity in a KIA OPTIMA lease. It seems like a bad financial decision to bundle that into a new lease, so I guess I am out the money on that one. Any ideas on this travesty are appreciated, even referring me to additional reference materials.))
60% residual and .00079 MF for both KS and MO. $800 lease cash.
Regarding your existing lease, the best thing is to wait until the lease is up before going into a new car. Otherwise, you will be responsible for the negative equity, either out of pocket or by rolling it into the new lease.
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Michael, if the MF is from Honda and is .00079 for KS on a Civic Si Sedan, how can a KS dealer offer .00071? I know they can pad it for profit, but I did not know they could lower it. They tried to add the negative equity in and quoted me a payment of $472. For a Civic. I refrained from laughing and took the quote sheet, and walked away.
And regarding the lease, if I still owe a difference over the residual when I trade it in, then what happens? I calculate I will still be $1,350 short of the residual when I trade it in. I have a payment of $335, with the lease ending in April of 2015. The residual is listed as 15,904. My current payout is $19,265; 6 more payments puts it at $17,255 in April. Does this mean I have to pay the difference?
The dealer may be using a finance company other than HFS ... check with them. Different companies have different MF and residuals.
If you wait until the end of the lease, you can return it and walk away with no obligations other than excess mileage. The residual is a best guess by the finance company - sometimes they guess high (meaning the car is worth less than what they thought) or guess low (meaning the car is worth more than what they thought). The residual is the value you can buy the car for at the end of the lease. If the car is worth less than the residual, you don't have to buy it. If the car is worth more, you can buy it and trade it in and get the equity.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
*The dealer may be using a finance company other than HFS ... check with them. Different companies have different MF and residuals.
If you wait until the end of the lease, you can return it and walk away with no obligations other than excess mileage. The residual is a best guess by the finance company - sometimes they guess high (meaning the car is worth less than what they thought) or guess low (meaning the car is worth more than what they thought). The residual is the value you can buy the car for at the end of the lease. If the car is worth less than the residual, you don't have to buy it. If the car is worth more, you can buy it and trade it in and get the equity.
Michael,
Thank you for this information regarding the lease. It is very helpful.
I heard back from the Honda dealership: it is Honda Finance. The dealer is offering 2014 Civic SI (without NAV) for $23,000, which includes $800 dealer cash; MF .00071; payment 310.38 (tax rate is 7.38). _ Is this a good deal?_ I would have $856.58 due at signing; the recent college grad program would cover $500, so I would put down $356.88 which includes the first month's payment. When I calculate it, I get $281.68 + $20.79 for a total payment of $302.47. I saw lots of people on this forum get their Civic Si's for considerably less, with payments in the low-mid $200's.