Honda Civic Lease

cc71

I am considering leasing a 2014 Civic EX L (located in FL). Quote MSRP $23530 Selling price $22101 with a "discount" of $1600 leaving $20501. They listed a taxable fee $30.50, doc fee $499, tax $1336.83 & non tax fee of $127 for a total of $22494.33. Cap Cost $21989, .00021MF, 57% residual for 12k, base residual $13412.10. This is with no money down @ 36mo & pymt of $264.11. Is this a fair deal?

isellhondas

On Civics there isn't much meat on the bone between MSRP and what the invoice is. I'm guessing MAYBE 2000.00 so the price doesn't sound too bad but a 499.00 doc Fee is nuts!

Who would have ever thought a Civic would have an MSRP of that much?

kyfdx

@isellhondas said:
On Civics there isn't much meat on the bone between MSRP and what the invoice is. I'm guessing MAYBE 2000.00 so the price doesn't sound too bad but a 499.00 doc Fee is nuts!

$499 doc fees are typical in Florida (and yes, still nuts!).

Who would have ever thought a Civic would have an MSRP of that much?

Who would have thought there would be a Civic model with standard leather?

kyfdx

@cc71 said:
I am considering leasing a 2014 Civic EX L (located in FL). Quote MSRP $23530 Selling price $22101 with a "discount" of $1600 leaving $20501. They listed a taxable fee $30.50, doc fee $499, tax $1336.83 & non tax fee of $127 for a total of $22494.33. Cap Cost $21989, .00021MF, 57% residual for 12k, base residual $13412.10. This is with no money down @ 36mo & pymt of $264.11. Is this a fair deal?

So... the selling price is $1429 under MSRP, then an additional discount of $1600? Over $3000 off MSRP is big, even considering the $800 dealer cash on this model. They make it back a little with the $499 doc fee, though.

Couple of things. Florida taxes the monthly payment. They shouldn't be adding a tax amount into the total, as no tax is collected, except on amounts paid upfront. Also, why is the CAP cost $505 less than your total?

The money factor and residual are correct. The payment amounts are close, but the tax being added in makes no sense, so it's hard to say, exactly.

isellhondas

Oh, I missed the additional 1600.00. and since I'm no longer (thankfully) in the game I didn't know about the Trunk Money.

And, yeah..A lowly Civic with leather? Navigation? So much for inexpensive transportation!

I don't get the tax part either as they are typically added to each monthly payment.

kyfdx

@cc71 said:
Explanation for the $1336.83 tax is for tax on the selling price. Should this be the case given that there is also a "use tax" of $18.43 per month? Monthly pymt shows lease depreciation $238.25 + $7.43 lease charge + $18.43 use tax = $264.11 mo pymt.

In Florida, there should be no tax on the selling price. The only tax upfront is if you pay taxable amounts upfront (acq.fee, doc fee, CAP cost reduction, etc). If those costs are rolled into the CAP cost, then the only tax is that use tax on the monthly payment (which is the sales tax).

cc71

Explanation for the $1336.83 tax is for tax on the selling price. Should this be the case given that there is also a "use tax" of $18.43 per month? Monthly pymt shows lease depreciation $238.25 + $7.43 lease charge + $18.43 use tax = $264.11 mo pymt.

cg29

Need help, would like to lease a 2014 civic ex-l no nav, msrp $23,660, before I contact dealers, what would be a reasonable price to expect? 

I am still debating wether to buy or lease, since i've found it easier to negotiate on purchases in the past. 

Michaell

cg29 said:

Need help, would like to lease a 2014 civic ex-l no nav, msrp $23,660, before I contact dealers, what would be a reasonable price to expect? 

I am still debating wether to buy or lease, since i've found it easier to negotiate on purchases in the past. 

There is a "Civic Pries Paid" discussion you can read that shows sale prices. You can also use the pricing tools at the top of the page (make / model / year) to help establish a target price.