2014 Honda Civic Lease Questions

13567

Comments

  • shaakrashaakra Member Posts: 5
    edited June 2014

    for @Michaell:
    thanks a lot for the quick reply. How is that MF o 0.00079 based? Is it calculated depending on my credit score or is it a standard MF in the state of West Virginia that honda bases their lease off of?

  • MichaellMichaell Moderator Posts: 263,885

    @shaakra said:
    @Michaell: thanks a lot for the quick reply. How is that MF o 0.00079 based? Is it calculated depending on my credit score or is it a standard MF in the state of West Virginia that honda bases their lease off of?

    .00079 is the base MF for the state of WV, and assumes tier 1 credit.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • yyysguyyyysguy Member Posts: 20
    edited June 2014

    I just leased a 2014 Honda Civic EX 4DR Sedan from Coggins Honda in Deland, Florida. This forum proved very helpful to me in getting up to speed on what to expect, and I wanted to share my experience and figures.

    I was able to get a zero-down, no money out-of pocket lease for $215/month (36 months, 12K miles/year) with Honda Lease. This deal includes the first months payment, so actually it's only 35 payments. This includes Florida state and Orange County sales tax @ 7% rate.

    MSRP $21,880

    Purchase price $18743
    Acquisition Fee $ 595
    Service Charge $ 699

    Cap Cost $20037.65

    Residual $13128

    Other costs (dealer paid) included $215 for first month payment, $427 registration (new tag) and a few other items for a total of 817.19 that the dealer ate.

    This dealer also includes with every vehicle their "appearance package", which includes window tint, wheel locks, Honda rubber floor and trunk mats, mud guards, pinstriping and free first oil change. They wanted to charge me $1995 for that, but I was able to get this for no charge.

  • kyfdxkyfdx Moderator Posts: 267,543

    Looks like a very good deal. Congrats!

    Man.. those Florida dealer fees! Nuts!

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • chiwa16chiwa16 Guest Posts: 1

    Thanks to everyone who has posted their own experiences! I've been reading through trying to soak up as much as possible, but still unsure if the offer I've got is worth pursuing.

    I'm a recent college grad hoping to take my first lease on the 2014 Civic Sedan EX (without any aftermarkets). I'm in Indianapolis, IN, and the best deal I've been able to find is:

    • $19,485 selling price
    • $2,400 down payment (includes $500 assistance from Honda's college grad program)
    • 36 months, 12k mileage/year
    • $13,565.60 residual
    • $163.82 monthly payment (includes taxes)

    I was hesitant to negotiate for anything cheaper on the spot since this was the best quote I got (other dealers were asking ~$190). What I didn't realize until reading through edmunds' guide tonight, though, was that I should minimize my down payment.

    Any recommendations for what I should try next? Thanks in advance for reading through!

  • carla19carla19 Member Posts: 2
    Hi! So I need help. I love in Southern California and I test drove the honda civic exl. I'm planning on leasing it and this is my first time and I was hoping someone could give me some pointers. Idk what the mf, residual or cap cost is. The salesman was trying to get me to give $3000 down and pay $227/month for 36 month/12k miles a year and he said he might be able to get the monthly down to $199 plus tax. I feel like this is a horrible deal. Can anyone help? The msrp is $23,400 or something and he didn't try and get that number down. Can I negotiate that number? I just need help please
  • kyfdxkyfdx Moderator Posts: 267,543

    Yes, you can negotiate the purchase price..

    You need to know the selling price and a breakdown of where the $3000 is going, at the very least. Also, does the $227/mo. include tax and what is the tax rate? The dealer can answer all of those questions, and if they won't, then find another dealer. Also, find out the exact MSRP.

    If this is the EX-L sedan w/o NAV, then the money factor is .00030 and the residual is 58%. There is $800 lease cash on this model.

    A car lease is a big financial contract, and you shouldn't go into it without all of the information. You find out the numbers on your end, and we'll try to help you figure it out.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • carla19carla19 Member Posts: 2
    @kyfdx‌ thank you! The 227/mo did not include taxes I think the selling price was around $23,990. It did not have navigation. I just really don't know what would be a good deal for this car in my area.
  • yyysguyyyysguy Member Posts: 20
    edited June 2014

    Carla. Look at the figures for my EX lease just above. I got a much better deal than what you were quoted. Feel free to print out my figures as a reference and bring the dealer. Also, read through the post history here on this forum. It will answer many of your questions. Each $1000 you pay as a down payment is roughly equivalent to $30 more/month over 36 months. . I got the EX for $215/month, no money out of pocket, no down payment, including tax and first month's payment. The original quote I got from that dealer was over a hundred dollars a month higher! That's a lot of profit and commission. The EX-L MSRP is 22,740, residual at 58% is 13189.20.

    EX-L is about $1700 dollars higher MSRP than EX. On a lease, you will be financing 42% of this at a 58% residual. That's about $700 more to finance than EX. Since the residual of EX is 60%, the extra 2% difference is about $400 additional that will need to be financed on EX-L. That's about $1100 total more than an EX, or about $30/month more than an EX. So an equivalent deal to mine might be $245/month, no money down, including taxes.

  • nextel123nextel123 Member Posts: 6
    edited July 2014

    This board has been great! Thank You All!!

    I’m in Virginia, looking for a Honda Civic Sedan LX automatic on a 3yr/36k lease. Using a car buying service, I was quoted a sales price of $17,910 including destination fees and a total MSRP of $19,980, including destination fees. I have tier 1 credit. I realize this is the beginning of the month, so I’m not sure if the Money Factors and Residuals are available or not. I would like to have no down payment.

    Looks like my fees include 4% tax ($716), Dealer Processing fee ($596), Tags ($40), and acquisition fee ($595). Deductions are recent college grad ($500) and Lease Cash ($750).

    MSRP: $19,980
    Cap Cost: $18,617
    Residual (assuming 59%): $11,788.20
    Monthly Depreciation Fee: $189.70
    Monthly Finance fee (assuming .0003 MF): $9.12
    Total Monthly Payment: $198.82

    Questions: What amounts get taxed? Does Honda have disposition fees(besides extra miles and extra wear and tear)? Does my math look right?

    I have not been to a dealer yet, as I would like to have this all worked out before going there.

    Thanks Again!

  • MichaellMichaell Moderator Posts: 263,885

    @nextel123 said:
    This board has been great! Thank You All!!

    I’m in Virginia, looking for a Honda Civic Sedan LX automatic on a 3yr/36k lease. Using a car buying service, I was quoted a sales price of $17,910 including destination fees and a total MSRP of $19,980, including destination fees. I have tier 1 credit. I realize this is the beginning of the month, so I’m not sure if the Money Factors and Residuals are available or not. I would like to have no down payment.

    Looks like my fees include 4% tax ($716), Dealer Processing fee ($596), Tags ($40), and acquisition fee ($595). Deductions are recent college grad ($500) and Lease Cash ($750).

    MSRP: $19,980
    Cap Cost: $18,617
    Residual (assuming 59%): $11,788.20
    Monthly Depreciation Fee: $189.70
    Monthly Finance fee (assuming .0003 MF): $9.12
    Total Monthly Payment: $198.82

    Questions: What amounts get taxed? Does Honda have disposition fees(besides extra miles and extra wear and tear)? Does my math look right?

    I have not been to a dealer yet, as I would like to have this all worked out before going there.

    Thanks Again!

    I'm showing the residual for the LX as 60% and the MF in VA as .00079. With your MSRP and cap cost, I get a pre-tax payment of $208.32.

    I believe that VA taxes the payment only, so adding 4% takes the payment to $216.65.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • nextel123nextel123 Member Posts: 6

    Thank you very much!

  • cnote2cnote2 Member Posts: 152

    Honda Civic EX-L w/nav 36m 12k mile lease in PA, thanks any lease incentives as well?

  • MichaellMichaell Moderator Posts: 263,885

    @cnote2 said:
    Honda Civic EX-L w/nav 36m 12k mile lease in PA, thanks any lease incentives as well?

    .00030 and $800 lease cash.

    56% residual for 36/12

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • gq2530gq2530 Member Posts: 5

    The information on this board is really useful. I am in TX, I want to lease a 2014 civic lx for 3 year lease with 12,000 miles a year.. Here is the quota from a dealer, cap cost = $19,866.00, residual value = 60% - $11,988.00, money factor = 0.0079. And here is the offer, $1,800 down = $199.00 a month or $0.00 down = $249.00 a month. Compared with the other posts, the cap cost seems too high. I do not have more details. The dealer says all specials are already included.
    Is there any room for negotiation? Thanks!

  • kyfdxkyfdx Moderator Posts: 267,543

    @gq2530 said:
    The information on this board is really useful. I am in TX, I want to lease a 2014 civic lx for 3 year lease with 12,000 miles a year.. Here is the quota from a dealer, cap cost = $19,866.00, residual value = 60% - $11,988.00, money factor = 0.0079. And here is the offer, $1,800 down = $199.00 a month or $0.00 down = $249.00 a month. Compared with the other posts, the cap cost seems too high. I do not have more details. The dealer says all specials are already included.
    Is there any room for negotiation? Thanks!

    The residual and money factor are correct. I assume the MSRP is $19,880?

    Does the payment include tax? That might be why your Cap cost seems high. If it's truly $0 due at signing, then it has to include the $595 acquisition fee, as well. To know for sure, you need a breakdown of the CAP cost (how much tax, selling price, etc.)

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • 2dangerous2dangerous Member Posts: 21

    I am in market for a civic EX. I am in NJ. Is there any lease cash for July? looking for 12k/36months, what is the residual and money Factor

  • cnote2cnote2 Member Posts: 152

    Me again, need the numbers for ex and ex-l without nav for 36m 12k. thanks again!

  • kyfdxkyfdx Moderator Posts: 267,543

    @bava said:
    I am in market for a civic EX. I am in NJ. Is there any lease cash for July? looking for 12k/36months, what is the residual and money Factor

    Sedan? .00030 MF and 60% residual. $800 lease cash.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Moderator Posts: 267,543

    @cnote2 said:
    Me again, need the numbers for ex and ex-l without nav for 36m 12k. thanks again!

    Numbers don't change until July 8th.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • cnote2cnote2 Member Posts: 152

    Hey kyfdx, these are different trim levels from what i asked for before. thought the residuals\mf would be different for each trim. are they the same?

  • MichaellMichaell Moderator Posts: 263,885

    @cnote2 said:
    Hey kyfdx, these are different trim levels from what i asked for before. thought the residuals\mf would be different for each trim. are they the same?

    The MF is the same for all Civic models - the residuals do differ, however.

    Which trims are you interested in again? Also, lease term and miles per year?

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • cnote2cnote2 Member Posts: 152

    sorry ex exl and exl w/nav for 36m 12k in pa

  • MichaellMichaell Moderator Posts: 263,885

    @cnote2 said:
    sorry ex exl and exl w/nav for 36m 12k in pa

    60% / 58% / 56% for 36/12

    .00030 and $800 lease cash

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • cnote2cnote2 Member Posts: 152
    edited July 2014

    just signed a deal, 218m with Philly tax on ex with nothing but first month at signing. thanks

  • MichaellMichaell Moderator Posts: 263,885

    @cnote2 said:
    just signed a deal, 218m with Philly tax on ex with nothing but first month at signing. thanks

    Congratulations!

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • nyhondacivicnyhondacivic Member Posts: 3

    I went into a dealership in NY today, this was the deal given to me. Please let me know if anyone thinks this is a good deal.

    Trade in $1000, Down Payment $1,500. Total down $2500 including all taxes and fees, and the monthly payment would be $210. The Navigation with GPS is not included in this deal. Would appreciate if anyone could help me on this. Thanks!

  • MichaellMichaell Moderator Posts: 263,885

    @nyhondacivic said:
    I went into a dealership in NY today, this was the deal given to me. Please let me know if anyone thinks this is a good deal.

    Trade in $1000, Down Payment $1,500. Total down $2500 including all taxes and fees, and the monthly payment would be $210. The Navigation with GPS is not included in this deal. Would appreciate if anyone could help me on this. Thanks!

    If you read back the last couple of pages, you will see similar payments without thee down payment or trade equity.

    What is the MSRP and selling price? What trim level? Lease term and mils per year? All of this will help us figure out what your payment ought to be.

    We recommend against making a down payment or using trade equity to reduce the payment ... if the car is stolen or totaled, you are out that money.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • nyhondacivicnyhondacivic Member Posts: 3

    @Michaell Thank you for the quick response. It looks like the MSRP is $23,580, I am not sure what the selling price is. It is the 2014 Civic Si, 2.4L I-4 cyl. It has everything in it, including the touch screen (without the GPS). Lease term is 36 months and 10K miles per year.

    I'm just trying to figure out if I'm getting a decent deal here, the salesman started me at 288 per month, and I got him down to 210, so just wanted to see if this could go down even further. Thanks for the help!

  • nyccarguynyccarguy Member Posts: 17,549

    @nyhondacivic‌

    Don't be a "payment shopper." That's what the dealer wants. If you are leasing, you need to know what te selling price is as well as the money factor (interest rate) and residual value (%). Then we can work backwards and tell you if you are getting a good deal. You should get a check for your $1000 trade and use it towards making car payments. You should roll your taxes into the payment instead of paying them up front.

    How many dealers have you contacted?

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD

  • MichaellMichaell Moderator Posts: 263,885

    @nyhondacivic said:
    Michaell Thank you for the quick response. It looks like the MSRP is $23,580, I am not sure what the selling price is. It is the 2014 Civic Si, 2.4L I-4 cyl. It has everything in it, including the touch screen (without the GPS). Lease term is 36 months and 10K miles per year.

    I'm just trying to figure out if I'm getting a decent deal here, the salesman started me at 288 per month, and I got him down to 210, so just wanted to see if this could go down even further. Thanks for the help!

    I endorse everything that @nyccarguy‌ said above. Negotiate the best selling price you can and ensure that the MF isn't being inflated by the dealer for extra profit.

    While $210/mo seems good, without the pricing info, we won't know if you can do better.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • djjohn15djjohn15 Member Posts: 2

    Looking to lease a Civic coupe LX. Can anyone tell me if this is a good deal?

    MSRP-$19780
    Lease Price-$17646 (includes $800 lease cash)
    Money Factor .00030 (PA)
    Residual 56%-$11076.80

    With first month's payment and plates at signing, the offer comes out to $207 mo. plus tax. This is for a 36/12,000 lease. It doesn't really seem like a great deal to me, but It's the best I've found.

    Is the residual on the EX higher than the LX? Might that be a better option right now? Thanks for your help!

  • MichaellMichaell Moderator Posts: 263,885

    @djjohn15 said:
    Looking to lease a Civic coupe LX. Can anyone tell me if this is a good deal?

    MSRP-$19780
    Lease Price-$17646 (includes $800 lease cash)
    Money Factor .00030 (PA)
    Residual 56%-$11076.80

    With first month's payment and plates at signing, the offer comes out to $207 mo. plus tax. This is for a 36/12,000 lease. It doesn't really seem like a great deal to me, but It's the best I've found.

    Is the residual on the EX higher than the LX? Might that be a better option right now? Thanks for your help!

    I'm getting a pre-tax payment of $191.09 using the information provided above.

    LX and EX residuals are the same.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • djjohn15djjohn15 Member Posts: 2
    I think the dealer is (silently) bundling in the $595 acquisition fee to get to $207. Bad deal?
  • MichaellMichaell Moderator Posts: 263,885

    @djjohn15 said:
    I think the dealer is (silently) bundling in the $595 acquisition fee to get to $207. Bad deal?

    Not bad .. you can choose to pay the acq fee up front or roll it into the cap cost. $595/36 = $16/mo.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • zlmxtdzlmxtd Member Posts: 3
    New to the boards, hoping one of the mods (or anyone) can offer some insight. I'm looking lease a 4dr Civic EX-L sedan for 36/mo @ 12k/year in Missouri. The numbers of my best offer so far:

    MSRP: $23,530

    Base Price: $21,191
    Pre-installed splash guard: $186
    Admin fees: $199
    Acquisition Fee: $595
    Plates: $39

    Down Payment: $0
    Lease Cash: $0

    Total Net cap cost: $22,209

    Residual Value: $13,412 @ 57% for 12K/mo for 36/mo

    Implied Money Factor: .00079

    Sales Tax in MO (including county tax): 7.113%

    Quoted monthly payment: $291
    Out the door: $291 for 1st payment.

    I haven't tried talking it down at all, only obtained the information to help understand all of the components.

    I've made no mention of the $800 lease cash as I'm holding that in my back pocket (assuming that's currently available in MO, can someone confirm?). I also think I I should try to knock off the charge for the splash guards, and also ask them to up the residual value to 58% (can someone also confirm the current rate in MO for 12k/yr for 36 months).

    Can someone offer any insight into what kind of wiggle room I have from here? Let me know if you need anymore information.

    Thanks in advance.
  • MichaellMichaell Moderator Posts: 263,885

    @zlmxtd said:
    New to the boards, hoping one of the mods (or anyone) can offer some insight. I'm looking lease a 4dr Civic EX-L sedan for 36/mo @ 12k/year in Missouri. The numbers of my best offer so far:

    MSRP: $23,530

    Base Price: $21,191
    Pre-installed splash guard: $186
    Admin fees: $199
    Acquisition Fee: $595
    Plates: $39

    Down Payment: $0
    Lease Cash: $0

    Total Net cap cost: $22,209

    Residual Value: $13,412 @ 57% for 12K/mo for 36/mo

    Implied Money Factor: .00079

    Sales Tax in MO (including county tax): 7.113%

    Quoted monthly payment: $291
    Out the door: $291 for 1st payment.

    I haven't tried talking it down at all, only obtained the information to help understand all of the components.

    I've made no mention of the $800 lease cash as I'm holding that in my back pocket (assuming that's currently available in MO, can someone confirm?). I also think I I should try to knock off the charge for the splash guards, and also ask them to up the residual value to 58% (can someone also confirm the current rate in MO for 12k/yr for 36 months).

    Can someone offer any insight into what kind of wiggle room I have from here? Let me know if you need anymore information.

    Thanks in advance.

    First, the residual is not negotiable. The only variables in a lease are the MF (can be marked up by dealer) and selling price.

    Negotiate the best price - check the Civic prices paid board to see what others are paying - then deduct the $800 lease cash.

    I confirm the 57% residual for 36/12 on the EX-L and the .00079 base MF.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • crutnackercrutnacker Member Posts: 41

    I am ready to turn in my lease and get a new one on an EX. My trusty sales person of many years has quoted me a $330-$340 a month payment, only thing due is first payment. There was the usual dealer prep add on garbage with the added accessories of a flat spoiler and side moldings the only thing that weren't the typical dealer markup stuff (undercoat, overcoat, fur coat, coat of many colors).

    I don't have the numbers because I didn't have a full discussion with my salesguy yet, but it sounds like $330 is pretty high for an EX lease payment from what I'm reading. Is that an accurate statement.

  • yyysguyyyysguy Member Posts: 20

    crutnacker - I got a zero-down lease for an EX for $215/month. This included everything, new tag, FL taxes at 7%, all fees, etc. I paid nothing. This also included first month's payment. They also rebated me $225 a few weeks later for registration overage charges. At $330/month, your salesman and dealer would be making ~$4000 pure profit off of you.

  • crutnackercrutnacker Member Posts: 41

    @yyysguy said:
    crutnacker - I got a zero-down lease for an EX for $215/month. This included everything, new tag, FL taxes at 7%, all fees, etc. I paid nothing. This also included first month's payment. They also rebated me $225 a few weeks later for registration overage charges. At $330/month, your salesman and dealer would be making ~$4000 pure profit off of you.

    Ouch. Thanks.

  • crutnackercrutnacker Member Posts: 41

    Looking for some help in determining what would be a good lease deal for Kentucky on a Civic EX or Civic EX-L. Not really following what these numbers on here mean.

  • MichaellMichaell Moderator Posts: 263,885

    @crutnacker said:
    Looking for some help in determining what would be a good lease deal for Kentucky on a Civic EX or Civic EX-L. Not really following what these numbers on here mean.

    What lease term and how many miles per year?

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • crutnackercrutnacker Member Posts: 41

    3 years/12,000 per.

  • crutnackercrutnacker Member Posts: 41

    Looking to do it with nothing down. I have decent credit.

  • MichaellMichaell Moderator Posts: 263,885

    @crutnacker said:
    Looking for some help in determining what would be a good lease deal for Kentucky on a Civic EX or Civic EX-L. Not really following what these numbers on here mean. 3 years, 12K per year.

    While I can't tell you what a good lease deal is, I can give you the numbers to help you help yourself.

    36/12 residual and MF:

    EX: 59% and .00079

    EX-L: 57% and .00079

    $800 lease cash this month.

    Go and negotiate your best selling price, then come on back and we can model a payment for you (or, you can find a lease calculator on the web and do it yourself, then we can confirm the math).

    The residual is the percentage of MSRP that the finance company thinks the car will be worth after so many years and miles. This number cannot be modified or negotiated.

    The money factor (MF) is the 'rent charge' - similar to the interest rate on a loan. Multiply the decimal value above by 2400 to get the equivalent interest rate.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • crutnackercrutnacker Member Posts: 41
    edited July 2014

    Thank you. Is this Honda Finance's money factor? Is it possible my dealer could be marking the factor up? How do accessories and dealer add ons factor into MSRP?

    @Michaell said:
    The money factor (MF) is the 'rent charge' - similar to the interest rate on a loan. Multiply the decimal value above by 2400 to get the equivalent interest rate.

  • MichaellMichaell Moderator Posts: 263,885

    @crutnacker said:
    Thank you. Is this Honda Finance's money factor? Is it possible my dealer could be marking the factor up? How do accessories and dealer add ons factor into MSRP?

    Yes, the numbers we quote are from Honda Finance. Yes, the dealer can mark up the MF for a bit of extra profit.

    I'm not certain how (or even if) Honda accessories and dealer installed options are residualized.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • adamtennisadamtennis Member Posts: 25
    edited July 2014

    Hi Michaell. I'm looking for the lease numbers for the Civic Coupe EX-L in south Florida for a 36 month lease with both 15k and 18k miles per year. Also, are the numbers different for the sedan? Thanks.

  • MichaellMichaell Moderator Posts: 263,885

    @adamtennis said:
    Hi Michaell. I'm looking for the lease numbers for the Civic Coupe EX-L in south Florida for a 36 month lease with both 15k and 18k miles per year. Also, are the numbers different for the sedan? Thanks.

    No 18K numbers from Honda.

    36/15 on the EX-L Coupe - 52%. Add 3% for sedan.

    .00030 MF and $800 lease cash for both.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • carmenohiocarmenohio Member Posts: 5

    Sorry to be so ignorant but can someone help me understand this better?

    I understand the percentage for the residual is the amount compared to that of the MSRP.

    Can the MF be negotiated however? Besides the sale price, what else do I want to try to negotiate to get the best deal?

    Civic wise, I'd be looking at a SI (also looking at an Accord Sport & Accord EX; both with manuals, all sedans but I can post that in the Accord thread).

This discussion has been closed.

Your Privacy

By accessing this website, you acknowledge that Edmunds and its third party business partners may use cookies, pixels, and similar technologies to collect information about you and your interactions with the website as described in our Privacy Statement, and you agree that your use of the website is subject to our Visitor Agreement.