2015 Honda Civic Lease Questions

Michaell

mannydom said:

kyfdx said:

mannydom said:

I am in the Chicago suburbs 60056. I am about to sign a lease on a 2015 Honda Civic LX Sedan (auto has 6 miles on it) 12K miles/year for 3YRs. They will pay for first month (zero down) and I will pay $185 per month for the next 35 months. What do you think? Thanks.

That includes Illinois sales tax? That's cheap.

Yes. I did my lease calculations and came up with the $185 amount thereabouts and that's what I told them I wanted to pay monthly for the unit. I take it that's a good deal for me. Should I be wary of anything up their sleeves? Thanks.

Make sure that all the fees (bank and dealer) and taxes are included in those numbers. Also have to account for license and registration costs.

d4lrap25

Hey guys im interest in a honda civic si 2015 sedan. Can i get numbers i live in nj tax rate - 7%. Mrsp: 23,910 . True car price: 22,373 plus doc fee ($369) = 22,742. 36/12

Michaell

d4lrap25 said:

Hey guys im interest in a honda civic si 2015 sedan. Can i get numbers i live in nj tax rate - 7%. Mrsp: 23,910 . True car price: 22,373 plus doc fee ($369) = 22,742. 36/12

.00022 and 59%. $1250 lease cash.

blueraptor

Hi guys I was wondering what is the Residual and Money Factor for September on a Honda Civic Sedan Lx for Southern California 36mo /15k or 36mo /12k is it better to do a 24 month?. Would it be smart to buy this upcoming weekend or in October, sorry for all my questions. Thanks in advance.

Michaell

blueraptor said:

Hi guys I was wondering what is the Residual and Money Factor for September on a Honda Civic Sedan Lx for Southern California 36mo /15k or 36mo /12k is it better to do a 24 month?. Would it be smart to buy this upcoming weekend or in October, sorry for all my questions. Thanks in advance.

.00022 and 56% for 36/15. $1200 lease cash.

Can't tell you if the deals will be better next month. I can tell you that the supply of 2015's will be less then than it is now. So, if you want a specific color, now is the time to act.

alohamahalo

Aloha guys...I'm looking to lease a 2015 Honda Civic EX-L...but I don't think I'm getting a good deal. Please help me understand if they're trying to take advantage of me in some way. I'm going to list everything as it appears on their offer sheet.

Please keep in mind these are all listed under "Lease Details" ----

Market Value - $26,655 (don't know where they come up with this number)
Savings - $6,077
Rebate - (BLANK)
Cap Cost - $20,577.71
Sales Tax - $484.56 (4.7% for Hawaii)
Bank Acquisition fee - $595.30
Dealer/State fees - 522.30
Total Price - $22,179.57
Net Residual - $13,249
Drive off - $299.07
Net Drive off - $299.07
Program miles - 12,000

They were very reluctant to give me the Money Factor...and they didn't put it on the offer sheet. At first they were acting like they didn't know what I was talking about....but I got them to write it on a piece of paper which they quickly took back - it said 0.0015 or it was 0.0017....this is super low right? Shouldn't my payments be low then?

So they're telling me I'm getting the car at 299.07 per month with zero money down, and absolutely no fees included. My request was that they absorb all of the fees in their margin....but why are the fees all listed here?? They say that they have to list them by law...but that theyre absorbing it...are they trying to trick me? I told them the contract better say the Cap Cost and not their "Total Price" because it factors the fees in.

Its probably worth mentioning that I have a credit score of 655....and they say they're doing me a favor by putting me in the Tier 2 class?

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2 reasons why I'm unhappy with the deal and still negotiating..

1 - I've read that leases should be approx. 42% less than monthly payments they would be if you buy the car....their first offer for purchasing was $460.00/month. Subtracting 42% of that (193) I get $267.00 per month. I think its worth mentioning that this is the "fair" payment on their initial offer for purchasing the vehicle and not their bottomline.

2 - I've also read that in order to determine a good lease you want to know how much $ you're paying per $10,000 worth of the vehicle. http://www.realcartips.com/leasing/0439-good-lease-deal.shtml
Doing the math - my lease deal comes out to $145.85 per month on $10,000 worth of the vehicle. They say a good lease will be between $120-130 per month....
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So am I getting taken advantage of? They have proven to be untrustworthy so far...they act like they've never heard the lingo before and try to argue with me on every single detail. I'm very concerned with how the offer sheet still shows all the fees and has a "total price" on there....my uneducated guess is that they've been using THAT number to come up with the monthly payments and not the agreed price on the car?

Thank you for your time and consideration in responding.

mannydom

For good reading and educating oneself regarding leasing, check out leaseguide.com. It helped me a lot. It's got lease calculators and others. Good luck!

zigster38

Or just download a lease app to your phone and do the numbers. You should probably be paying less per month than 299.

kyfdx

alohamahalo said:

Aloha guys...I'm looking to lease a 2015 Honda Civic EX-L...but I don't think I'm getting a good deal. Please help me understand if they're trying to take advantage of me in some way. I'm going to list everything as it appears on their offer sheet.

Please keep in mind these are all listed under "Lease Details" ----

Market Value - $26,655 (don't know where they come up with this number)
Savings - $6,077
Rebate - (BLANK)
Cap Cost - $20,577.71
Sales Tax - $484.56 (4.7% for Hawaii)
Bank Acquisition fee - $595.30
Dealer/State fees - 522.30
Total Price - $22,179.57
Net Residual - $13,249
Drive off - $299.07
Net Drive off - $299.07
Program miles - 12,000

They were very reluctant to give me the Money Factor...and they didn't put it on the offer sheet. At first they were acting like they didn't know what I was talking about....but I got them to write it on a piece of paper which they quickly took back - it said 0.0015 or it was 0.0017....this is super low right? Shouldn't my payments be low then?

So they're telling me I'm getting the car at 299.07 per month with zero money down, and absolutely no fees included. My request was that they absorb all of the fees in their margin....but why are the fees all listed here?? They say that they have to list them by law...but that theyre absorbing it...are they trying to trick me? I told them the contract better say the Cap Cost and not their "Total Price" because it factors the fees in.

Its probably worth mentioning that I have a credit score of 655....and they say they're doing me a favor by putting me in the Tier 2 class?

-----------------------------------------------------------------------------------------------------------------------
2 reasons why I'm unhappy with the deal and still negotiating..

1 - I've read that leases should be approx. 42% less than monthly payments they would be if you buy the car....their first offer for purchasing was $460.00/month. Subtracting 42% of that (193) I get $267.00 per month. I think its worth mentioning that this is the "fair" payment on their initial offer for purchasing the vehicle and not their bottomline.

2 - I've also read that in order to determine a good lease you want to know how much $ you're paying per $10,000 worth of the vehicle. http://www.realcartips.com/leasing/0439-good-lease-deal.shtml
Doing the math - my lease deal comes out to $145.85 per month on $10,000 worth of the vehicle. They say a good lease will be between $120-130 per month....
-----------------------------------------------------------------------------------------------------------------------------


So am I getting taken advantage of? They have proven to be untrustworthy so far...they act like they've never heard the lingo before and try to argue with me on every single detail. I'm very concerned with how the offer sheet still shows all the fees and has a "total price" on there....my uneducated guess is that they've been using THAT number to come up with the monthly payments and not the agreed price on the car?

Thank you for your time and consideration in responding.

I'm going to guess that the "market value" is the MSRP of the vehicle. Have you seen the window sticker or priced out the vehicle on-line? Do you know the MSRP? Of course, it could be the MSRP plus dealer accessory add-ons. You need to know the true MSRP, because that's how the residual number is calculated.

The base MF for Hawaii is .00072 for top tier credit. The next tier down is .00156. That is a high number and makes a big difference in the lease payment (not in a good way).

The "rule of thumbs" you list are pretty vague, and while they may have a little relation to reality, they aren't specific to each case. They certainly are invalid if you don't have top tier credit. The drop down to Tier 2 credit will add about $30/mo. to your payment, alone.

You don't say if you are leasing a coupe or sedan. That's important, as the residuals are different.

So, ask for the full MSRP of the vehicle. That's the government sticker, including destination, but not including any dealer add-ons.
Ask for the money factor. (this isn't disclosed on lease paperwork and they don't have to give it to you, because you are renting, not buying, but they should tell you, if pressed).
Ask for the full adjusted CAP cost, including tax, acq.fee, etc.

With those numbers we can calculate a lease payment.

Also to consider: The EX-L residual is about $500 lower than the EX. If you can do without leather, you'll save about $15/mo.
Hawaii doesn't have a lot of competition. It's not like you can go to California to get your car.

Given all the above and your credit situation, the payment doesn't look that bad to me. But, we need the above details.

alohamahalo

Thank you for the detailed response. So the sticker price of the car (MsRP they advertise) is $23,360 for the Honda Civic Ex-L Sedan.

our negotiated price on the vehicle (cap cost?) is 20,577....but again, judging by all that other info. Listed under lease details on the offer sheet...it would appear they're indeed charging me for all the fees when they claim they aren't for a total price of 22,179.

Ah ha...I thought 0.0015 was an amazing MF...but I didnt realize u want 3 zeros...no wonder they quickly removed that piece of paper from my possession. They claim they're doing me a favor for giving me near top tier credit payments...my credit score is 655.

alohamahalo

Ok I've broken it down more simplified here....again this is for a 2015 Honda Civic EX-L, and their offer is $299 per month with zero down.

Cap Cost (agreed price on vehicle) - $20,577.71
Residual value - $13,249 (56% of $23,660 MSRP
Money Factor - 0.0015
Sales Tax - 4.7%

Please check my figures:

Cap Cost minus Residual = A $7,328.11 depreciation over 36 months ($203.55 depreciation monthly payments)

(Cap Cost plus Residual) x Money Factor = ($50.74 in monthly finance charges)

+ Sales Tax of 4.7% ($11.95 per month)

Grand total for monthly payments should be $266.24...

Now as far as THEIR profit...I was told that they have a $1500 cash incentive to sell Civics (he slipped that when he made a mistake and thought I wanted a CRV...then backtracked on it)....

So as far as I can tell....they're already profiting - and they're trying to get an extra $1,181.88 over the course of 36 months by upping my monthly payments by $32.83. I feel like this is unjustified considering the 2016 models are rolling in very soon and are considered an IMMENSE upgrade over the 2015. Should I be patient and wait it out till they're begging me to come get it for $267/mo? Should I wait for the 2016 ---will I be able to get a similar price to the 299/month?

Any thoughts are greatly appreciated. Aloha

Michaell

alohamahalo said:

Ok I've broken it down more simplified here....again this is for a 2015 Honda Civic EX-L, and their offer is $299 per month with zero down.

Cap Cost (agreed price on vehicle) - $20,577.71
Residual value - $13,249 (56% of $23,660 MSRP
Money Factor - 0.0015
Sales Tax - 4.7%

Please check my figures:

Cap Cost minus Residual = A $7,328.11 depreciation over 36 months ($203.55 depreciation monthly payments)

(Cap Cost plus Residual) x Money Factor = ($50.74 in monthly finance charges)

+ Sales Tax of 4.7% ($11.95 per month)

Grand total for monthly payments should be $266.24...

Now as far as THEIR profit...I was told that they have a $1500 cash incentive to sell Civics (he slipped that when he made a mistake and thought I wanted a CRV...then backtracked on it)....

So as far as I can tell....they're already profiting - and they're trying to get an extra $1,181.88 over the course of 36 months by upping my monthly payments by $32.83. I feel like this is unjustified considering the 2016 models are rolling in very soon and are considered an IMMENSE upgrade over the 2015. Should I be patient and wait it out till they're begging me to come get it for $267/mo? Should I wait for the 2016 ---will I be able to get a similar price to the 299/month?

Any thoughts are greatly appreciated. Aloha

Using your numbers, I get a payment just a few cents different than yours (could be a rounding error).

So yes, your dealer is adding fees / profit that pads the monthly payment.

Is there another Honda dealer on the island? If so, reach out to them - the competition should help your cause.

nbk6s8p

Please excuse if I missed it above, but what are the October residual and money factor for a 2015 Civic EX Coupe CVT for California (northern).

I'm helping a friend with the deal for a remaining '15 EX Coupe CVT, they have tentatively negotiated $1K drive-off, $200.xx/mo (including CA 9.25% tax). The car has an MSRP of $22,010 but I know none of the other figures comprised in the deal (selling price, dealer contribution, MF, etc.). How's the deal? Sounds ok to me, but perhaps there is room left on the table.

Thanks

kyfdx

nbk6s8p said:

Please excuse if I missed it above, but what are the October residual and money factor for a 2015 Civic EX Coupe CVT for California (northern).

I'm helping a friend with the deal for a remaining '15 EX Coupe CVT, they have tentatively negotiated $1K drive-off, $200.xx/mo (including CA 9.25% tax). The car has an MSRP of $22,010 but I know none of the other figures comprised in the deal (selling price, dealer contribution, MF, etc.). How's the deal? Sounds ok to me, but perhaps there is room left on the table.

Thanks

.00072 MF and 53% residual for 36mo, 15K/yr. $1250 lease cash + $200 bonus lease cash.

What term and mileage for your quote?

nbk6s8p

kyfdx said:

nbk6s8p said:

Please excuse if I missed it above, but what are the October residual and money factor for a 2015 Civic EX Coupe CVT for California (northern).

I'm helping a friend with the deal for a remaining '15 EX Coupe CVT, they have tentatively negotiated $1K drive-off, $200.xx/mo (including CA 9.25% tax). The car has an MSRP of $22,010 but I know none of the other figures comprised in the deal (selling price, dealer contribution, MF, etc.). How's the deal? Sounds ok to me, but perhaps there is room left on the table.

Thanks

.00072 MF and 53% residual for 36mo, 15K/yr. $1250 lease cash + $200 bonus lease cash.

What term and mileage for your quote?

Thank you. Terms are 36 months, 12K/yr.

Are the lease cash and bonus cash offers anything one must qualify for (example current or former Honda owner, owner of competing car, etc.) or is it there for the dealer to use as they wish.

kyfdx

nbk6s8p said:

kyfdx said:

nbk6s8p said:

Please excuse if I missed it above, but what are the October residual and money factor for a 2015 Civic EX Coupe CVT for California (northern).

I'm helping a friend with the deal for a remaining '15 EX Coupe CVT, they have tentatively negotiated $1K drive-off, $200.xx/mo (including CA 9.25% tax). The car has an MSRP of $22,010 but I know none of the other figures comprised in the deal (selling price, dealer contribution, MF, etc.). How's the deal? Sounds ok to me, but perhaps there is room left on the table.

Thanks

.00072 MF and 53% residual for 36mo, 15K/yr. $1250 lease cash + $200 bonus lease cash.

What term and mileage for your quote?

Thank you. Terms are 36 months, 12K/yr.

Are the lease cash and bonus cash offers anything one must qualify for (example current or former Honda owner, owner of competing car, etc.) or is it there for the dealer to use as they wish.

It's a dealer incentive.. Use that knowledge to negotiate a low price.

jujudew2

Negotiated a 15k/36month Honda Civic EX Lease for $225 a month (no money down, first month due at signing) back in July. That $225 monthly payment is including the fees and taxes. I'm extremely happy with the deal. Negotiating with the residual value/MF/lease cash/MSRP knowledge has been a life saver. Thank you to all the moderators at Edmunds for all you do!

harish_kumar13

Hi, Can someone plz provide me MF and RV for 2015 Honda Civic LX 4dr in NJ for current month... Also, is there any discounts going around on the price (Lease cash or bonus) and what is the criteria to qualify for that... Appreciate your help... Thanks in advance...

harish_kumar13

sorry forgot to add that I am looking for 12k miles 36 months

kyfdx

jujudew2 said:

Negotiated a 15k/36month Honda Civic EX Lease for $225 a month (no money down, first month due at signing) back in July. That $225 monthly payment is including the fees and taxes. I'm extremely happy with the deal. Negotiating with the residual value/MF/lease cash/MSRP knowledge has been a life saver. Thank you to all the moderators at Edmunds for all you do!

Congrats!

kyfdx

harish_kumar13 said:

Hi, Can someone plz provide me MF and RV for 2015 Honda Civic LX 4dr in NJ for current month... Also, is there any discounts going around on the price (Lease cash or bonus) and what is the criteria to qualify for that... Appreciate your help... Thanks in advance...

harish_kumar13 said:

sorry forgot to add that I am looking for 12k miles 36 months

.00022 MF and 58% residual. $1000 lease cash + $200 bonus lease cash

nbk6s8p

What's the MF and residual on a 2015 Civic EX Coupe for 12K/yr 36 mos? I'm assuming the MF is .00072 as indicated a few posts above but 53% residual was for 15K/yr.

Given all that, is $1K drive off and $200/mo including CA tax a good deal?

lesseefair

Me, again.

MF, RV and any lease cash for a 2015 Civic LX sedan for 12/24 and 12/36 in Wisconsin.

Thank you!

kyfdx

nbk6s8p said:

What's the MF and residual on a 2015 Civic EX Coupe for 12K/yr 36 mos? I'm assuming the MF is .00072 as indicated a few posts above but 53% residual was for 15K/yr.

Given all that, is $1K drive off and $200/mo including CA tax a good deal?

In SoCal, it's .00022 MF and 55% residual. $1250 lease cash + $200 bonus lease cash.

No idea on the lease pricing.... if you have the MSRP and CAP cost, we can calculate it.

kyfdx

lesseefair said:

Me, again.

MF, RV and any lease cash for a 2015 Civic LX sedan for 12/24 and 12/36 in Wisconsin.

Thank you!

.00022 MF and 64%/58% residual. $1000 lease cash + $200 bonus lease cash

lesseefair

And the MF drops by .0001 when you choose the 'No First Month's Payment' option?

The MF would be .00012 for the 'No First Month's Payment', correct?

Or has that incentive changed for October 2015?

Thank you!

kyfdx said:

lesseefair said:

Me, again.

MF, RV and any lease cash for a 2015 Civic LX sedan for 12/24 and 12/36 in Wisconsin.

Thank you!

.00022 MF and 64%/58% residual. $1000 lease cash + $200 bonus lease cash

Michaell

lesseefair said:

And the MF drops by .0001 when you choose the 'No First Month's Payment' option?

The MF would be .00012 for the 'No First Month's Payment', correct?

Or has that incentive changed for October 2015?

Thank you!

kyfdx said:

lesseefair said:

Me, again.

MF, RV and any lease cash for a 2015 Civic LX sedan for 12/24 and 12/36 in Wisconsin.

Thank you!

.00022 MF and 64%/58% residual. $1000 lease cash + $200 bonus lease cash

The MF reduction for $0 due at signing is still in effect.

lesseefair

If the least expensive monthly payment is your priority for your personal transportation, when you consider the low MFs and higher RVs of Hondas, is it safe to say that the best lease deals are almost always going to be with Honda?

I understand that MSRP and negotiated purchase price play a very important role in leases, but even still, it seems that Honda is almost always going to deliver your lowest monthly payment.

In May of 2013, I leased a 2012 Scion iQ for a ridiculously low $125/month, all in (including state tax, title, registration, acquisition fee). At the time, Scion wanted to move leftover 2012 iQs, so was offering $0 downpayment and $0 security deposit with an MF of .00001 for 24 months/12,000 miles.

But that deal on that (now terminated) microcar seems like a unicorn, of sorts.

If you don't want to put any money down, and if you don't want to put down a security deposit, and if you want the lowest monthly lease rate possible to get you from A to B in your life, it appears that a Honda lease is almost always the way to go (assuming you have top-tier credit).

Would you agree?

Michaell

lesseefair said:

If the least expensive monthly payment is your priority for your personal transportation, when you consider the low MFs and higher RVs of Hondas, is it safe to say that the best lease deals are almost always going to be with Honda?

I understand that MSRP and negotiated purchase price play a very important role in leases, but even still, it seems that Honda is almost always going to deliver your lowest monthly payment.

In May of 2013, I leased a 2012 Scion iQ for a ridiculously low $125/month, all in (including state tax, title, registration, acquisition fee). At the time, Scion wanted to move leftover 2012 iQs, so was offering $0 downpayment and $0 security deposit with an MF of .00001 for 24 months/12,000 miles.

But that deal on that (now terminated) microcar seems like a unicorn, of sorts.

If you don't want to put any money down, and if you don't want to put down a security deposit, and if you want the lowest monthly lease rate possible to get you from A to B in your life, it appears that a Honda lease is almost always the way to go (assuming you have top-tier credit).

Would you agree?

I've seen other makes with similar lease numbers - Toyota and Hyundai, for example. Nothing wrong with Honda, but there are other deals out there as well.

I'll be shopping for a "value" lease next year ... hoping to keep it under $200/mo if I can.

lesseefair

Michaell said:

lesseefair said:

If the least expensive monthly payment is your priority for your personal transportation, when you consider the low MFs and higher RVs of Hondas, is it safe to say that the best lease deals are almost always going to be with Honda?

I understand that MSRP and negotiated purchase price play a very important role in leases, but even still, it seems that Honda is almost always going to deliver your lowest monthly payment.

In May of 2013, I leased a 2012 Scion iQ for a ridiculously low $125/month, all in (including state tax, title, registration, acquisition fee). At the time, Scion wanted to move leftover 2012 iQs, so was offering $0 downpayment and $0 security deposit with an MF of .00001 for 24 months/12,000 miles.

But that deal on that (now terminated) microcar seems like a unicorn, of sorts.

If you don't want to put any money down, and if you don't want to put down a security deposit, and if you want the lowest monthly lease rate possible to get you from A to B in your life, it appears that a Honda lease is almost always the way to go (assuming you have top-tier credit).

Would you agree?

I've seen other makes with similar lease numbers - Toyota and Hyundai, for example. Nothing wrong with Honda, but there are other deals out there as well.

I'll be shopping for a "value" lease next year ... hoping to keep it under $200/mo if I can.

Yes, a "value" lease. That's all I seek; just something that offers 12,000/year and which will get me to work, and on errands, and the occasional road trip.

And definitely under $200/month, all in.

I'll check out Toyota and Hyundai, but the numbers for those manufacturers never seem to crunch as low as a Civic LX...

lesseefair

Just got a $16,793.00 eQuote for a base 2015 Civic LX CVT sedan:

$20,110 MSRP (includes $820.00 Honda acquisition/handling fee)
$12,870.40 64%
$11,663.80 58%
$16,793.00 eQuote (includes $820.00 Honda acquisition/handling fee)
.00022 MF (without 1st payment rolled in)

$16,793 - $12,870.40 = $3922.60/24 = $163.44

$16,793 - $11,663.80 = $5129.20/36 = $142.48

$16,793 + $12,870.40 = $29,663.40 X .00022 MF = $6.53 ($169.97/24 months)

$16,793 + $11.663.80 = $28,456.80 X .00022 MF = $6.26 ($148.74/36 months)

$169.97 X 5.6% WI sales tax = $9.52 ($179.49/24 months)

$148.74 X 5.6% WI sales tax = $8.33 ($157.07/36 months)

Rolling in the first month's payment:

$20,110 MSRP
$12,870.40 64%
$11,663.80 58%
$16,956.44 w/ 1st $163.44 payment rolled in (24 mos)
$16,935.48 w/ 1st $142.48 payment rolled in (36 mos)
.00012 MF ($0 first month's payment)

$16,956.44 - $12,870.40 = $4086.04/23 = $177.65

$16,935.48 - $11,663.80 = 5271.68/35 = $150.62

$16,956.44 + $12,870.40 = $29,826.84 X .00012 MF = $3.58 ($181.23)

$16,935.48 + $11,663.80 = $28.599.28 X .00012 MF = $3.43 ($154.05)

$181.23 X 5.6% = $10.15 ($191.38)

$154.05 X 5.6% = $8.63 ($162.68)

If my calculations are even remotely correct, it appears that rolling in the first month's payment actually costs more, overall--even though your monthly MF is .0001 less when you roll in the first month's payment.

None of my calculations above include tax, title, licensing, registration or $219.00 "documentation/processing fee".

Having calculated all of that, the $1200.00 available lease cash is not included in either of these scenarios--but I'm not sure how that $1200.00 might be applied, given the $16,793.00 eQuote is based upon purchase, not lease.

Do I get to slash the $16,793.00 purchase price by another $1200.00 if I choose to lease?

Any feedback regarding anything I've written here would be greatly appreciated!

kyfdx

@lessefair Some observations.

The $820 is destination/handling.. Do not confuse this with the lease acquisition fee, which is $595 and is unaccounted for in your calculations.

The $1000 incentive is for purchase or lease, so I would imagine that has already been factored into their price. The other incentive is $200 bonus lease cash, so they would possibly lower their price by that much, if pressed.

On the "$0 due at signing" lease, Honda requires the dealer to cover the 1st payment, so it isn't rolled in. It's also likely that they wouldn't honor the quote on that lease program because of that. Better to stick with making your first payment.

lesseefair

Aha! Thank you!

Yes, I confused "destination/handling" with "acquisition". If not paid out of pocket upfront, that $595.00 adds another $25.00 to the monthly payment, before MF and taxes, on a 24-month lease.

I thought "$0 First Month's Payment" simply meant that it's rolled into your Net Cap Cost, not that the dealer, itself, is making that first month's payment.

It's also possible that the $16,793.00 eQuote includes a $500.00 "loyalty" bonus--which wouldn't ultimately apply to me, as I do not presently drive a Civic. However, it was stated plainly that the eQuote does not include the college and/or military bonuses (which also would not apply to me), so I don't need to worry about that potential increase.

It looks like this lease, if arranged for 24 months, could very well exceed $200.00/month...

Really appreciate your help!

kyfdx

lesseefair said:

Aha! Thank you!

Yes, I confused "destination/handling" with "acquisition". If not paid out of pocket upfront, that $595.00 adds another $25.00 to the monthly payment, before MF and taxes, on a 24-month lease.

I thought "$0 First Month's Payment" simply meant that it's rolled into your Net Cap Cost, not that the dealer, itself, is making that first month's payment.

It's also possible that the $16,793.00 eQuote includes a $500.00 "loyalty" bonus--which wouldn't ultimately apply to me, as I do not presently drive a Civic. However, it was stated plainly that the eQuote does not include the college and/or military bonuses (which also would not apply to me), so I don't need to worry about that potential increase.

It looks like this lease, if arranged for 24 months, could very well exceed $200.00/month...

Really appreciate your help!

Not too many great 24 month leases out there... but, I think you could easily get under $200/mo. on 36 months.

lesseefair

Oh, for sure. I just get a little antsy after 24 months... LOL

According to Edmunds' "Auto Lease Calculator," even when I enter $595.00 in the "Acquisition Fee" field, and include $200.00 in the "Incentives" field (for the lease cash), the monthly payment is $197.00.

So that's under $200.00, which is where I'd like it to be.

But if the dealer has included a $500.00 loyalty bonus in their $16,793.00 eQuote, then I'm definitely over $200.00 per month, when I tack on that $500.00.

I'm not tied to the Civic, but for a 24-month lease, it seems like every other car is easily over $200.00/month.

I don't want to put down a downpayment, but I don't mind paying the $595.00 acquisition fee out of pocket.

lesseefair

kyfdx said:

lesseefair said:

Aha! Thank you!

Yes, I confused "destination/handling" with "acquisition". If not paid out of pocket upfront, that $595.00 adds another $25.00 to the monthly payment, before MF and taxes, on a 24-month lease.

I thought "$0 First Month's Payment" simply meant that it's rolled into your Net Cap Cost, not that the dealer, itself, is making that first month's payment.

It's also possible that the $16,793.00 eQuote includes a $500.00 "loyalty" bonus--which wouldn't ultimately apply to me, as I do not presently drive a Civic. However, it was stated plainly that the eQuote does not include the college and/or military bonuses (which also would not apply to me), so I don't need to worry about that potential increase.

It looks like this lease, if arranged for 24 months, could very well exceed $200.00/month...

Really appreciate your help!

Not too many great 24 month leases out there... but, I think you could easily get under $200/mo. on 36 months.

lesseefair said:

Oh, for sure. I just get a little antsy after 24 months... LOL

According to Edmunds' "Auto Lease Calculator," even when I enter $595.00 in the "Acquisition Fee" field, and include $200.00 in the "Incentives" field (for the lease cash), the monthly payment is $197.00.

So that's under $200.00, which is where I'd like it to be.

But if the dealer has included a $500.00 loyalty bonus in their $16,793.00 eQuote, then I'm definitely over $200.00 per month, when I tack on that $500.00.

I'm not tied to the Civic, but for a 24-month lease, it seems like every other car is easily over $200.00/month.

I don't want to put down a downpayment, but I don't mind paying the $595.00 acquisition fee out of pocket.

Just spoke with the Internet sales rep via telephone. He assures me that the eQuote of $16,793.00 does not include a Honda loyalty bonus, or anything of the kind--only "dealer cash". Nothing "special" for which I would have to qualify for, according to him.

I have an appointment to test drive tomorrow.

We'll see.

$16,793.00 is an "exceptional" price, according to TrueCar/Edmunds...

kyfdx

lesseefair said:

kyfdx said:

lesseefair said:

Aha! Thank you!

Yes, I confused "destination/handling" with "acquisition". If not paid out of pocket upfront, that $595.00 adds another $25.00 to the monthly payment, before MF and taxes, on a 24-month lease.

I thought "$0 First Month's Payment" simply meant that it's rolled into your Net Cap Cost, not that the dealer, itself, is making that first month's payment.

It's also possible that the $16,793.00 eQuote includes a $500.00 "loyalty" bonus--which wouldn't ultimately apply to me, as I do not presently drive a Civic. However, it was stated plainly that the eQuote does not include the college and/or military bonuses (which also would not apply to me), so I don't need to worry about that potential increase.

It looks like this lease, if arranged for 24 months, could very well exceed $200.00/month...

Really appreciate your help!

Not too many great 24 month leases out there... but, I think you could easily get under $200/mo. on 36 months.

lesseefair said:

Oh, for sure. I just get a little antsy after 24 months... LOL

According to Edmunds' "Auto Lease Calculator," even when I enter $595.00 in the "Acquisition Fee" field, and include $200.00 in the "Incentives" field (for the lease cash), the monthly payment is $197.00.

So that's under $200.00, which is where I'd like it to be.

But if the dealer has included a $500.00 loyalty bonus in their $16,793.00 eQuote, then I'm definitely over $200.00 per month, when I tack on that $500.00.

I'm not tied to the Civic, but for a 24-month lease, it seems like every other car is easily over $200.00/month.

I don't want to put down a downpayment, but I don't mind paying the $595.00 acquisition fee out of pocket.

Just spoke with the Internet sales rep via telephone. He assures me that the eQuote of $16,793.00 does not include a Honda loyalty bonus, or anything of the kind--only "dealer cash". Nothing "special" for which I would have to qualify for, according to him.

I have an appointment to test drive tomorrow.

We'll see.

$16,793.00 is an "exceptional" price, according to TrueCar/Edmunds...

Good luck!

lesseefair

Thank you. Just took a test drive. Decent car.

I'm presently composing an email offer to send to the sales rep.

If the dealer comes back with, "Well, that internet quote of $16,793.00 is for purchase, not to lease!" what do I say?

With a lease, the dealer is essentially "selling" the car to American Honda Financial Services for $16,793.00, correct? So if I were to pay the dealer $16,793.00 to own the car, or if AHFS were to pay the dealer $16,793.00 for me to lease the car, it's all the same thing for the dealer's bottom line, correct?

The dealer receives $16,793.00 either way?

lesseefair

Got exactly the deal I wanted--thanks to you guys at Edmunds.com's Forums!

$20,110 MSRP
$16,793 Cap Cost
-$200 Lease Cash
$595.00 acquisition fee
.00022 MF
58% RV (36 months)

With the $595.00 acquisition fee rolled in, my monthly payment is $167.95!

The dealer called me the 'Lease Whisperer'!

Every piece of information you provided along the way checked out.

Thank you, thank you, thank you.

See you in 3 years!

kyfdx

lesseefair said:

Got exactly the deal I wanted--thanks to you guys at Edmunds.com's Forums!

$20,110 MSRP
$16,793 Cap Cost
-$200 Lease Cash
$595.00 acquisition fee
.00022 MF
58% RV (36 months)

With the $595.00 acquisition fee rolled in, my monthly payment is $167.95!

The dealer called me the 'Lease Whisperer'!

Every piece of information you provided along the way checked out.

Thank you, thank you, thank you.

See you in 3 years!

Glad it worked out.. Congrats! That is one cheap way to drive, and in a nice car, too!

isellhondas

Those are no brainer leases.

The entire car will be under warranty the entire time of the lease. You'll never have to buy tires or a new battery. Just keep the oil changes up and you will be driving a car that has top safety ratings and great gas mileage. At the end if you love the car, you can buy it for wholesale or just lease another one.

adamcar

isellhondas said:

Those are no brainer leases.

The entire car will be under warranty the entire time of the lease. You'll never have to buy tires or a new battery. Just keep the oil changes up and you will be driving a car that has top safety ratings and great gas mileage. At the end if you love the car, you can buy it for wholesale or just lease another one.

Or, possibly sell it for more than the payoff.

lesseefair

isellhondas said:

Those are no brainer leases.

The entire car will be under warranty the entire time of the lease. You'll never have to buy tires or a new battery. Just keep the oil changes up and you will be driving a car that has top safety ratings and great gas mileage. At the end if you love the car, you can buy it for wholesale or just lease another one.

I admit I got a little lucky: the dealership 7 miles from me does the most volume in the state--and they presently have more than 50 base model LX sedans on their lot, with a complete Civic redesign for 2016 coming fast.

They're desperate to get rid of these things.

When this particular dealer didn't show up with an offer via a TrueCar.com search, I went to their website and gave the "Send Me A Quote" option a shot. I wasn't expecting much, but their internet guy came back with $16,793.00--$3,317 below MSRP. After that, I only had to press for the $200 Lease Cash incentive to get an exceptionally great monthly payment.

Having written all of that, if I didn't go in armed with the current MF and RV from this Edmunds forum (and the knowledge of the $200 Lease Cash incentive), the dealer would've tried to gouge me, for sure.

Again, you guys on this site are pretty dang awesome.

getcar

has anyone in central NJ got any lease good deals for civic lx for manual gear option. If so can you post that here.

i143vws

I've been trying to figure out how exactly this deal works and what the payment would look like realistically. I inquired on what the best price is that they can offer online and it's $16,370. Here are the details directly from the website.

LEASE FOR $19*/mo
plus tax for 24 months
12k miles per year
MSRP: $20,110
CAP: $16,500 or $16,370 (eQuote)
Residual: 64%
Stock Every

*Lease requires approved credit; based on 12,000 miles per year, .15 per mile excess; LEASE BASED ON $2900 CASH OR TRADE DOWN. Security deposit waived. Dealer's advertised Price includes doc prep fee. The $595 bank acquisition fee, tax, title and registration are not included in the price. All customer promotions and incentives to dealer. Must take same day delivery, prior sales excluded.

Looks like they have over 200 cars in their inventory currently (which I hope will work in my favor in terms of getting a good deal). Also, does anyone know if there are additional discounts because 2016 is in the process of being rolled out?

kyfdx

CAP cost is 16,370, minus the $2900 downpayment. Using those numbers, I get $30/mo., not $19/mo. So, from that standpoint, it's good.

But, you have $2900 downpayment, plus $595 acquisition fee, plus tax, title registration.. and 1st payment due at signing..

Still a good deal, but the actual cost would be closer to $185/mo.+tax, if you were only paying 1st payment at signing... Still a good deal on a 24 month lease, but it's not really getting a car for $19/mo.

i143vws

Thanks so much for your responses on both of my posts KYFDX...I have a 09 Jetta SEL currently with 81k on it and it's beginning to need work so I am thinking of trading it in and getting one of the two (Civic LX or CR-V LX AWD). I own the 09 so I hope to use part of the value towards the new vehicle. Next steps are to go into the dealership and test drive...thanks again!

Michaell

i143vws said:

Thanks so much for your responses on both of my posts KYFDX...I have a 09 Jetta SEL currently with 81k on it and it's beginning to need work so I am thinking of trading it in and getting one of the two (Civic LX or CR-V LX AWD). I own the 09 so I hope to use part of the value towards the new vehicle. Next steps are to go into the dealership and test drive...thanks again!

We wouldn't recommend using the trade equity to buy down the lease payment (cap cost reduction) - if the new car is stolen or totaled, you lose that money.

Using it for up front costs (fees, taxes, etc.) is OK, since you have to pay those anyway.

2cool2touch1

Hi to this amazing forum and its mods

I am in the market in NJ for 2015 Civic SE with 12K/36mnths

===========
Below is what the dealer is quoting me

SELLING PRICE: $17901
DESTINATION & HANDLING: Included
UV & Wlocks: $378
SUBTOTAL: $18279

STATE SALES TAX: $1279.13
NJ TIRE TAX: $7.50
DOCUMENTATION FEE: $369
REGISTRATION: $276 to $301

TOTAL OUT THE DOOR PRICE: 20235.63
Lease Price Per month : $1000 out of pocket - $212.21

1000down/36=27.77

Dealer didnt mention Acquisition fee so adding that

595 Acquisition fee /36 = 16.52

Lease Price Per month :$212.21+27.77+16.52=256.50



=============

This seems way over what I am calculating. Can you please see if I am missing anything

MSRP = 20810
MSRP+Dest+Hand+option=22152
Res value = 22152*.57 = 12626.64
Term = 36
Incentives = 0
Net Cap Cost (Offered Price - Incentives) = 18279 (including Dest and Handling+UV/Wlocks options)
MF = 0.00022
Value used by me = 18279 - 12626.64 = 5652.36
Base Monthly payment = 5652.36/36 = 157.01
Interest Paid = (18279+12628.92)*0.00022 = 6.799
Monthly Payment = 157.01+6.799 = 163.80
with NJ Sales Tax 7% = 163.8*1.07 = 175.27
Acquisition Fee 595 over 36 mnths = 595/36 = 16.5

FINAL Lease Payment = 191.79

so 191.79 versus 256.5. Im guessing I am missing something here

Michaell

2cool2touch1 said:

Hi to this amazing forum and its mods

I am in the market in NJ for 2015 Civic SE with 12K/36mnths

===========
Below is what the dealer is quoting me

SELLING PRICE: $17901
DESTINATION & HANDLING: Included
UV & Wlocks: $378
SUBTOTAL: $18279

STATE SALES TAX: $1279.13
NJ TIRE TAX: $7.50
DOCUMENTATION FEE: $369
REGISTRATION: $276 to $301

TOTAL OUT THE DOOR PRICE: 20235.63
Lease Price Per month : $1000 out of pocket - $212.21

1000down/36=27.77

Dealer didnt mention Acquisition fee so adding that

595 Acquisition fee /36 = 16.52

Lease Price Per month :$212.21+27.77+16.52=256.50

=============

This seems way over what I am calculating. Can you please see if I am missing anything

MSRP = 20810
MSRP+Dest+Hand+option=22152
Res value = 22152*.57 = 12626.64
Term = 36
Incentives = 0
Net Cap Cost (Offered Price - Incentives) = 18279 (including Dest and Handling+UV/Wlocks options)
MF = 0.00022
Value used by me = 18279 - 12626.64 = 5652.36
Base Monthly payment = 5652.36/36 = 157.01
Interest Paid = (18279+12628.92)*0.00022 = 6.799
Monthly Payment = 157.01+6.799 = 163.80
with NJ Sales Tax 7% = 163.8*1.07 = 175.27
Acquisition Fee 595 over 36 mnths = 595/36 = 16.5

FINAL Lease Payment = 191.79

so 191.79 versus 256.5. Im guessing I am missing something here

My numbers work out the same as yours, within a few pennies.

Ask the dealer what the net cap cost is; I suspect that's where the difference lies.

MF can be inflated by the dealer, but that's rare with Honda.

One thing to note - NJ does not tax the monthly payment - they calculate the total tax due on all the payments and collect it up front. Can be added to the cap cost but it shouldn't make a material difference in the lease payment. But, something to check out.