Honda Civic 2015 EX L Lease Advice

East

Hi,

Here are the details about my 2015 Honda Civic EXL 36 months 10k with 0 down at signing + DMV registration fee in South NJ:

MSRP : 23,660.00

Acquisition Fees : 595.00

Gross Capitalized Cost of Vehicle: 22,422.43

Residual Value : 13,959.40

Miles : 30 K in 3 yrs

Monthly Lease Payments : 250 x 36 months

Total Cost of Lease : 23,265.90

As per dealer, residual value of 13,959.40 is 56% of MSRP but it does not add up based on figures he provided here.

Can you please help me to decide on this deal since I need to close this today?

Is this a good deal or I should ask for reducing gross capitalised cost of Vehicle or residual value?

How is residual value normally calculated for NJ lease?

Regards,

East

kyfdx

East said:

Hi,

Here are the details about my 2015 Honda Civic EXL 36 months 10k with 0 down at signing + DMV registration fee in South NJ:

MSRP : 23,660.00

Acquisition Fees : 595.00

Gross Capitalized Cost of Vehicle: 22,422.43

Residual Value : 13,959.40

Miles : 30 K in 3 yrs

Monthly Lease Payments : 250 x 36 months

Total Cost of Lease : 23,265.90

As per dealer, residual value of 13,959.40 is 56% of MSRP but it does not add up based on figures he provided here.

Can you please help me to decide on this deal since I need to close this today?

Is this a good deal or I should ask for reducing gross capitalised cost of Vehicle or residual value?

How is residual value normally calculated for NJ lease?

Regards,

East

The base residual is 56% for 36mo, 15K/yr. 10K/yr adds 3%... which agrees with your residual number (59%).

At .00041 MF and 59% residual, that MSRP and CAP cost, I also get $250/mo.

Is it a good deal? Hard to tell. How much is due at signing? What's in the CAP cost besides the selling price and acquisition fee?

East

Only first month payment of $250 + DMV registration fee is due at signing. All fees/taxes are included for 36 months 10 K miles per year.

East

Also you asked for capitalized cost reduction which i

East

Is 0 in this lease in NJ state.

kyfdx

East said:

Only first month payment of $250 + DMV registration fee is due at signing. All fees/taxes are included for 36 months 10 K miles per year.

Looks like a great deal

East

Thanks a lot for reviewing my info and providing inputs. The only catch I see is there is 350 Turn In fees which might be an issue at the time of returning vehicle. Is this normal or dealer is just trying to maximize his profit here?

kyfdx

East said:

Thanks a lot for reviewing my info and providing inputs. The only catch I see is there is 350 Turn In fees which might be an issue at the time of returning vehicle. Is this normal or dealer is just trying to maximize his profit here?

A disposition fee is standard on all Honda leases (and most others). It's usually waived, if you lease another Honda at lease end. The dealer doesn't have a part in any of that.