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Honda Civic LX Lease

amoreira1amoreira1 Posts: 2
edited October 2014 in Honda
I was given a deal to lease a 2014 Honda Civic LX (MSRP $19,980) with $0 down for $239 / month for 36 months (12K miles / year). They're paying off the last 3 months I have on my current lease on a Ford Focus, worth $669.00. I live in NC and they said the $239 already includes the tax. How do I know if this is a good deal?

My current lease ends in February, is it likely that I'd get a better deal deal (lower monthly payment with $0 down) for a 2015 model?

Answers

  • kyfdxkyfdx Everywhere, USAPosts: 128,067
    amoreira1 said:

    I was given a deal to lease a 2014 Honda Civic LX (MSRP $19,980) with $0 down for $239 / month for 36 months (12K miles / year). They're paying off the last 3 months I have on my current lease on a Ford Focus, worth $669.00. I live in NC and they said the $239 already includes the tax. How do I know if this is a good deal?

    My current lease ends in February, is it likely that I'd get a better deal deal (lower monthly payment with $0 down) for a 2015 model?

    To properly evaluate a lease deal, you need to know the selling price and CAP cost. While a 2015 LX might not be as cheap in February as the 2014 model is now... you won't have to pay $669 extra to cover your lease payments.. That should cover any extra.. It's easier to make a good deal when you don't have another car to gum up the deal.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • the lease language is still new to me, but if I don't plan on keeping the vehicle after the 3 years would those matter?  

  • kyfdxkyfdx Everywhere, USAPosts: 128,067
    amoreira1 said:

    the lease language is still new to me, but if I don't plan on keeping the vehicle after the 3 years would those matter?  

    It matters, if you want to know if you got a good deal.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • lesseefairlesseefair Posts: 125
    I'm interested in the money factor and residual value on both 2014 Civic LX base sedan and 2015 Civic LX base sedan for Wisconsin.

    24/12,000 (if offered)
    36/12,000

    I'm most interested in a 2015 Civic LX, but a dealer here has a single leftover 2014 Civic LX (manual transmission) and I'm wondering if they'll discount it "deeply" to move it...

    Thanks!
  • MichaellMichaell ColoradoPosts: 121,524

    I'm interested in the money factor and residual value on both 2014 Civic LX base sedan and 2015 Civic LX base sedan for Wisconsin.

    24/12,000 (if offered)
    36/12,000

    I'm most interested in a 2015 Civic LX, but a dealer here has a single leftover 2014 Civic LX (manual transmission) and I'm wondering if they'll discount it "deeply" to move it...

    Thanks!

    I don't have any lease information for 2014 Civics, sorry.

    For the 2015 LX in Wisconsin, I'm showing 66% for 24/12 and 60% for 36/12 and a MF of .00041

    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 / 2014 MINI Countryman S ALL4

  • lesseefairlesseefair Posts: 125
    You're awesome. Thank you, Michael.

    So, in terms of the 2014, what might you suggest I do? Is it possible the dealer won't lease the 2014?

    In May of 2013, I leased a 2012 vehicle at a super-low rate, so I was hoping this Honda dealer would be willing to lease their lone 2014 in April of 2015...

    If the dealer is willing to lease this last 2014 Civic LX, do I just have to accept whatever money factor and residual % they state (if I want the deal)?

    Are there other places to obtain this information for a 2014 model?

    Thank you.
  • MichaellMichaell ColoradoPosts: 121,524

    You're awesome. Thank you, Michael.

    So, in terms of the 2014, what might you suggest I do? Is it possible the dealer won't lease the 2014?

    In May of 2013, I leased a 2012 vehicle at a super-low rate, so I was hoping this Honda dealer would be willing to lease their lone 2014 in April of 2015...

    If the dealer is willing to lease this last 2014 Civic LX, do I just have to accept whatever money factor and residual % they state (if I want the deal)?

    Are there other places to obtain this information for a 2014 model?

    Thank you.

    I don't know if there are any numbers to obtain on the 2014 Civic for leasing; the dealer may have to use their own bank. I don't have anything from Honda Finance this late into the new model year.

    Doesn't mean you can't do it; just means we don't have any information to share with you.

    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 / 2014 MINI Countryman S ALL4

  • lesseefairlesseefair Posts: 125
    Understood, thank you.

    I leased a 2012 Scion iQ (don't laugh) in late May of 2013. The money factor was .00001 (yes, four zeros), and the residual value was 75%! They wanted to get rid of them! (Not exactly a Wisconsin car...)

    I don't expect such a ridiculous deal on the stalwart Civic, but...

    I know for a fact that this 2014 Civic LX can be purchased via financing through Honda Financial Services at 1.9% for 72 months--which I believe is the very same percentage one gets (with top-tier credit) for a 2015 Civic LX over 72 months.

    So maybe money factor and residual % to lease this leftover 2014 Civic LX is very similar, if not the same, as Honda Financial Services is offering to lease the 2015 Civic LX.

    Of course, I'm aware that the residual clock is ticking on this leftover 2014 model, so 66% for 24 months might not be offered...
  • kyfdxkyfdx Everywhere, USAPosts: 128,067

    Understood, thank you.

    I leased a 2012 Scion iQ (don't laugh) in late May of 2013. The money factor was .00001 (yes, four zeros), and the residual value was 75%! They wanted to get rid of them! (Not exactly a Wisconsin car...)

    I don't expect such a ridiculous deal on the stalwart Civic, but...

    I know for a fact that this 2014 Civic LX can be purchased via financing through Honda Financial Services at 1.9% for 72 months--which I believe is the very same percentage one gets (with top-tier credit) for a 2015 Civic LX over 72 months.

    So maybe money factor and residual % to lease this leftover 2014 Civic LX is very similar, if not the same, as Honda Financial Services is offering to lease the 2015 Civic LX.

    Of course, I'm aware that the residual clock is ticking on this leftover 2014 model, so 66% for 24 months might not be offered...

    The chances are good that you won't be able to lease a 2014 Civic at a reasonable rate. At some point, lease support is pulled on the previous year model, and it appears that has happened for the 2014 Civic.

    Extrapolating any 2015 lease information towards the 2014 model is really a waste of time. Totally unrelated.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • lesseefairlesseefair Posts: 125
    Understood, thank you.
  • lesseefairlesseefair Posts: 125
    FYI: The dealer offered a 60% residual and a money factor of .00283.

    The residual is sorta reasonable--that's the residual for a new 2015 LX for 36 months, and this 2014 LX would be 36 mos old at the end of a 24 mos lease--but that money factor is lousy.

    The numbers are better for a 2015 LX --by $25/month--as you had suspected.

    Purchase price is pretty ridiculously low for this 2014 ($14,500), but that APR/money factor killed the deal....
  • kyfdxkyfdx Everywhere, USAPosts: 128,067

    FYI: The dealer offered a 60% residual and a money factor of .00283.

    The residual is sorta reasonable--that's the residual for a new 2015 LX for 36 months, and this 2014 LX would be 36 mos old at the end of a 24 mos lease--but that money factor is lousy.

    The numbers are better for a 2015 LX --by $25/month--as you had suspected.

    Purchase price is pretty ridiculously low for this 2014 ($14,500), but that APR/money factor killed the deal....

    Thanks for checking back in, with that info.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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