2016 Honda Civic Lease Questions

thecoooch

Hi, Need info on 2016 Honda Civic EX 12K, 36 or 39 month lease. Need the MF, Residual % and any other information to help me negotiate the lease (% or $ under MSRP that a dealer may take - how low can I go...). The MSRP including destination on the sticker is $21,875. I am in New Jersey.

Michaell

thecoooch said:

Hi, Need info on 2016 Honda Civic EX 12K, 36 or 39 month lease. Need the MF, Residual % and any other information to help me negotiate the lease (% or $ under MSRP that a dealer may take - how low can I go...). The MSRP including destination on the sticker is $21,875. I am in New Jersey.

.00083 and 62% for 36/15. Subtract 2% for 39 months. Add 2% for 12k

Check the "Prices Paid" forum for pricing; can also use the Make Model Year pull downs at the top of the page.

ksmith

if you go 39 months you will lose the money factor .00083 and it will be increased to standard rate of .00175. I would stick with 36 months.

There are not many out there for the EX model also make sure to ask if the vehicle has a stop sale since their is an air bag recall

marksinnova

Thanks for all the information so far everyone. I am currently negotiating with a dealer on behalf of my girlfriend who would like to lease a 2016 Civic LX. They provided the overall lowest sales price out of all the dealers I spoke with. We have come to the following numbers, but the monthly payment does not seem to be making sense to me when I run it through the various online lease calculators (it seems their calculation of the monthly payment is higher than what all the calculators come to). I believe there may be hidden fees somewhere between the breakdown and the final monthly payment that are increasing the monthly payment. They told me the MF is 0.00083 and RV is $12,445 (which I think they are wrong, everything I've seen says 64% which would be $12,976 based on the MSRP, correct?)

Car: 2016 Civic LX
Lease term/miles: 36mo/12k mi
MSRP: $20,275
Sales Price: $16,491
Freight/Destination: $835
Processing Fee: $599
Tax (6% Baltimore, MD): $1075.5
Tag: $69.75
VA Business Tax: 30.47
Net Price: $19,100.72
Location of Dealer: Virginia

Lease paperwork shows: $0 down, 36 mo lease/12k mi: $235/month payment.


When I run all those same numbers though leaseguide.com, I come up with:

MSRP: $20,275
Base Cap Cost: $16,491
Costs Added to Lease: $2,609 (I put the Freight/Destination, Processing Fee, MD Tax, Tag, and VA Business Tax from above into this field)
Adjusted Cap Cost: $19,100
Residual Value: $12,976
Money Factor: .00083
Term: 36mo
Sales Tax: 6%

Monthly Payment = $188.41+$11.30 tax=$199.71

So how does the leaseguide calculator come up with $199.71 and the dealership came up with $235? That is a pretty significant difference and I would like to figure it out before we go back to the dealership. I would appreciate any response!

kyfdx

marksinnova said:

Thanks for all the information so far everyone. I am currently negotiating with a dealer on behalf of my girlfriend who would like to lease a 2016 Civic LX. They provided the overall lowest sales price out of all the dealers I spoke with. We have come to the following numbers, but the monthly payment does not seem to be making sense to me when I run it through the various online lease calculators (it seems their calculation of the monthly payment is higher than what all the calculators come to). I believe there may be hidden fees somewhere between the breakdown and the final monthly payment that are increasing the monthly payment. They told me the MF is 0.00083 and RV is $12,445 (which I think they are wrong, everything I've seen says 64% which would be $12,976 based on the MSRP, correct?)

Car: 2016 Civic LX
Lease term/miles: 36mo/12k mi
MSRP: $20,275
Sales Price: $16,491
Freight/Destination: $835
Processing Fee: $599
Tax (6% Baltimore, MD): $1075.5
Tag: $69.75
VA Business Tax: 30.47
Net Price: $19,100.72
Location of Dealer: Virginia

Lease paperwork shows: $0 down, 36 mo lease/12k mi: $235/month payment.


When I run all those same numbers though leaseguide.com, I come up with:

MSRP: $20,275
Base Cap Cost: $16,491
Costs Added to Lease: $2,609 (I put the Freight/Destination, Processing Fee, MD Tax, Tag, and VA Business Tax from above into this field)
Adjusted Cap Cost: $19,100
Residual Value: $12,976
Money Factor: .00083
Term: 36mo
Sales Tax: 6%

Monthly Payment = $188.41+$11.30 tax=$199.71

So how does the leaseguide calculator come up with $199.71 and the dealership came up with $235? That is a pretty significant difference and I would like to figure it out before we go back to the dealership. I would appreciate any response!

If tax is in the CAP cost, why are you adding it again? Tax in Maryland is applied to the full purchase price. The monthly payment isn't taxed.

At 64% residual and .00083 MF (which are correct), the payment is $196.74/mo.

So, something isn't right... start with the residual. Either they are using an incorrect residual, or the MSRP isn't what you think it is.

marksinnova

kyfdx said:

If tax is in the CAP cost, why are you adding it again? Tax in Maryland is applied to the full purchase price. The monthly payment isn't taxed.

At 64% residual and .00083 MF (which are correct), the payment is $196.74/mo.

So, something isn't right... start with the residual. Either they are using an incorrect residual, or the MSRP isn't what you think it is.

Good catch, thanks. This is my first time dealing with a lease so I'm still trying to wrap my head around the calculations. I just double checked both the paperwork from the dealership and the Honda website. The Honda website says: "MSRP $20,275.00. Option to purchase at lease end $12,976.00." So I'm fairly certain I have the MSRP and RV correct in the calculations. After doing the manual math again without including tax twice, I came to $196.73, which is only a penny off from your calculation.

One thing I don't see anywhere in the dealer paperwork is the acquisition fee. Honda says it should have a $595 acquisition fee. Not sure if that somehow magically got calculated into their monthly calculation, or if they were planning to spring that on us later on. Their sheet goes straight from net cap of $19,100.72 to $235/mo. Even when I add the acquisition fee to the net cap it comes out to $213.76 in my calculations.

I'm truly baffled as to how they are coming up with the monthly payment.

kyfdx

marksinnova said:

kyfdx said:

If tax is in the CAP cost, why are you adding it again? Tax in Maryland is applied to the full purchase price. The monthly payment isn't taxed.

At 64% residual and .00083 MF (which are correct), the payment is $196.74/mo.

So, something isn't right... start with the residual. Either they are using an incorrect residual, or the MSRP isn't what you think it is.

Good catch, thanks. This is my first time dealing with a lease so I'm still trying to wrap my head around the calculations. I just double checked both the paperwork from the dealership and the Honda website. The Honda website says: "MSRP $20,275.00. Option to purchase at lease end $12,976.00." So I'm fairly certain I have the MSRP and RV correct in the calculations. After doing the manual math again without including tax twice, I came to $196.73, which is only a penny off from your calculation.

One thing I don't see anywhere in the dealer paperwork is the acquisition fee. Honda says it should have a $595 acquisition fee. Not sure if that somehow magically got calculated into their monthly calculation, or if they were planning to spring that on us later on. Their sheet goes straight from net cap of $19,100.72 to $235/mo. Even when I add the acquisition fee to the net cap it comes out to $213.76 in my calculations.

I'm truly baffled as to how they are coming up with the monthly payment.

Start with the residual. Dealers can't alter residuals.

owoah323

Hello!

May I please have residual values for a Civic EX and EX-T for SoCal and the MF value for an individual with above 700 credit? Also, are there any incentives?

I'm looking to crunch some numbers now and hopefully make a deal this summer. I'm assuming the residual values may change in the next 3 months right?

I love Edmunds' forums! Thanks!

Michaell

owoah323 said:

Hello!

May I please have residual values for a Civic EX and EX-T for SoCal and the MF value for an individual with above 700 credit? Also, are there any incentives?

I'm looking to crunch some numbers now and hopefully make a deal this summer. I'm assuming the residual values may change in the next 3 months right?

I love Edmunds' forums! Thanks!

Current numbers are .00083 and 62% for both trims, 36 months, 15,000 miles per year. These numbers are set to expire on 5/2/16.

Both MF and residual are likely to change in the next few months, so any calculations you make today will be obsolete then.

singhster

Can I get Civic Ex and Ex-T, Residual, MF and any incentives in NYC. 12k/36. Thanks in advance,

Michaell

singhster said:

Can I get Civic Ex and Ex-T, Residual, MF and any incentives in NYC. 12k/36. Thanks in advance,

64% and .00083 for both EX and EX-T

ELVIS

Robertson Honda in Torrance is discounting Civic EXL - NAV by $3225.00. There must be dealer incentives that are not advertised, Seems like a fair deal.

fernky101

Looking for mf and residual for Ex-T with sensing.  On either 36/ 15k or 12k in Utah

Michaell

fernky101 said:

Looking for mf and residual for Ex-T with sensing.  On either 36/ 15k or 12k in Utah

.00083 and 60% for 36/15. Add 2% for 12K

OldEastEnder

May I have 2016 Civic Ex-T Residuals & MF in Tennessee. 12k/36. Thanks.
A couple of quick questions: will these figures likely change much in April, and is the residual calculated on MSRP not actual selling price? Many thanks.

kyfdx

simon_tara said:

May I have 2016 Civic Ex-T Residuals & MF in Tennessee. 12k/36. Thanks.
A couple of quick questions: will these figures likely change much in April, and is the residual calculated on MSRP not actual selling price? Many thanks.

.00083 MF and 64% residual.

Program is scheduled to run through 05/02

Residual percentage is applied to the full MSRP (bottom line on the government required window sticker).

pedhagandham

Michaell said:

pedhagandham said:

I am getting 64% residual, 0.00083 Money factor with $237 monthly payment(incl taxes) for a 36 month/12k lease on Civic EX-T. Is it a good deal?

Would need to know the MSRP and adjusted capitalized cost to run the numbers.

Also, what state and tax rate is this?

MSRP is $23,035
State Ohio, Tax rate 7.5%
I don't know the adjusted cap cost.

Michaell

pedhagandham said:

Michaell said:

pedhagandham said:

I am getting 64% residual, 0.00083 Money factor with $237 monthly payment(incl taxes) for a 36 month/12k lease on Civic EX-T. Is it a good deal?

Would need to know the MSRP and adjusted capitalized cost to run the numbers.

Also, what state and tax rate is this?

MSRP is $23,035
State Ohio, Tax rate 7.5%
I don't know the adjusted cap cost.

Dealer should be able to provide it .. if they don't, they might be a dealer to avoid.

aaronayme90

May I have 2016 Civic Lx, Ex, and Ex-T Residuals & MF in Colorado. 15k/36

Michaell

aaronayme90 said:

May I have 2016 Civic Lx, Ex, and Ex-T Residuals & MF in Colorado. 15k/36

.00083 and 62% for all three trims.

moet

Here is a quote I got (seems high when compared to my current lease for the same vehicle where I'm paying $220/m 15K/36mo with $0 down): 

Civic LX 15K/36mo
MSRP: $20,275
Selling: $18,408
Residual: $12,570.70 (62%)
MF: 0.00073 (tier 1)
$0 down 
$237/mo (tax included) 

Can I do better? 

kyfdx

moet said:

Here is a quote I got (seems high when compared to my current lease for the same vehicle where I'm paying $220/m 15K/36mo with $0 down): 

Civic LX 15K/36mo
MSRP: $20,275
Selling: $18,408
Residual: $12,570.70 (62%)
MF: 0.00073 (tier 1)
$0 down 
$237/mo (tax included) 

Can I do better? 

.00073 MF and 62% residual for ZERO due at signing lease.

If the selling price was the CAP cost, then $185/mo.+tax.

Obviously, you have more costs added in.. $595 acq.fee, etc.

What is the adjusted CAP cost?

moet

kyfdx said:

Here is a quote I got (seems high when compared to my current lease for the same vehicle where I'm paying $220/m 15K/36mo with $0 down): 

Civic LX 15K/36mo
MSRP: $20,275
Selling: $18,408
Residual: $12,570.70 (62%)
MF: 0.00073 (tier 1)
$0 down 
$237/mo (tax included) 

Can I do better? 

.00073 MF and 62% residual for ZERO due at signing lease. If the selling price was the CAP cost, then $185/mo.+tax. Obviously, you have more costs added in.. $595 acq.fee, etc. What is the adjusted CAP cost?

Tax is 7%.  The additional fees I'm told that's baked in are first month payment, taxes, registration fee, doc fee, bank fee, tire fee (this is something apparently new since January where they charge $7.5).

I'll see if I can get the adjusted CAP. It seems like they are adding $1400 more. Do Honda dealers typically waive any of these fees? 

Michaell

moet said:

kyfdx said:

moet said:

Here is a quote I got (seems high when compared to my current lease for the same vehicle where I'm paying $220/m 15K/36mo with $0 down): 

Civic LX 15K/36mo
MSRP: $20,275
Selling: $18,408
Residual: $12,570.70 (62%)
MF: 0.00073 (tier 1)
$0 down 
$237/mo (tax included) 

Can I do better? 

.00073 MF and 62% residual for ZERO due at signing lease.

If the selling price was the CAP cost, then $185/mo.+tax.

Obviously, you have more costs added in.. $595 acq.fee, etc.

What is the adjusted CAP cost?

Tax is 7%.  The additional fees I'm told that's baked in are first month payment, taxes, registration fee, doc fee, bank fee, tire fee (this is something apparently new since January where they charge $7.5).

I'll see if I can get the adjusted CAP. It seems like they are adding $1400 more. Do Honda dealers typically waive any of these fees? 

They are not waived. Either imposed by the bank or the state.

klnmcmg

MF and RV for Civic Sedan Touring in NC? 24/12, 36/12

Michaell

klnmcmg said:

MF and RV for Civic Sedan Touring in NC? 24/12, 36/12

.00083 and 65% / 59%

katek0808

MF and RV for civic sedan LX with sensing in New York. Any incentives??

Michaell

katek0808 said:

MF and RV for civic sedan LX with sensing in New York. Any incentives??

What lease term and how many miles per year?

ayobonus

Hi All,

I wanted to get some assistance from a quote I got for a 2016 Honda Civic Touring. I currently have a Honda lease which I will be trading in for the 2016.

My current lease: 2014 Honda Civic Coupe
Miles: 20,376
Terms: 36 months - $269/mo - 12k mi/yr
# of payments left: 9
Down payment: taxes, fees, registration (don't remember the total, but I put $0 down other than those fees)

2016 Honda Civic Touring Quote:
Terms: 36 months - $290/mo (tax included) - 12k mi/yr
Total Due at signing: $2000 (includes taxes, fees, registration, and some down payment)
Residual: 60%
Money Factor: .00083

Am I getting a good deal? Do I have any equity in the car that I'm leasing now? Should I be paying a little less since I'm trading in my current lease?

Thanks!

katek0808

36/12

kyfdx

katek0808 said:

MF and RV for civic sedan LX with sensing in New York. Any incentives??

katek0808 said:

36/12

.00083 MF and 62% residual

kyfdx

ayobonus said:

Hi All,

I wanted to get some assistance from a quote I got for a 2016 Honda Civic Touring. I currently have a Honda lease which I will be trading in for the 2016.

My current lease: 2014 Honda Civic Coupe
Miles: 20,376
Terms: 36 months - $269/mo - 12k mi/yr
# of payments left: 9
Down payment: taxes, fees, registration (don't remember the total, but I put $0 down other than those fees)

2016 Honda Civic Touring Quote:
Terms: 36 months - $290/mo (tax included) - 12k mi/yr
Total Due at signing: $2000 (includes taxes, fees, registration, and some down payment)
Residual: 60%
Money Factor: .00083

Am I getting a good deal? Do I have any equity in the car that I'm leasing now? Should I be paying a little less since I'm trading in my current lease?

Thanks!

No idea about equity in your current vehicle. Is the quote on the new dependent on the dealer taking it in trade? If so, ask them about your equity (trade allowance minus payoff) or shortfall.

As far as the quote? Need MSRP, selling price/CAP cost to evaluate it.

Advice: Don't try to get out of your lease early. It's cheap and you are under on miles.

ayobonus

kyfdx said:

ayobonus said:

Hi All,

I wanted to get some assistance from a quote I got for a 2016 Honda Civic Touring. I currently have a Honda lease which I will be trading in for the 2016.

My current lease: 2014 Honda Civic Coupe
Miles: 20,376
Terms: 36 months - $269/mo - 12k mi/yr
# of payments left: 9
Down payment: taxes, fees, registration (don't remember the total, but I put $0 down other than those fees)

2016 Honda Civic Touring Quote:
Terms: 36 months - $290/mo (tax included) - 12k mi/yr
Total Due at signing: $2000 (includes taxes, fees, registration, and some down payment)
Residual: 60%
Money Factor: .00083

Am I getting a good deal? Do I have any equity in the car that I'm leasing now? Should I be paying a little less since I'm trading in my current lease?

Thanks!

No idea about equity in your current vehicle. Is the quote on the new dependent on the dealer taking it in trade? If so, ask them about your equity (trade allowance minus payoff) or shortfall.

As far as the quote? Need MSRP, selling price/CAP cost to evaluate it.

Advice: Don't try to get out of your lease early. It's cheap and you are under on miles.

Hi kyfdx, yes that quote that I got is for trading in my current lease. Cap cost is 27,300. I wanted to renew my lease because the 2016 Civic is great, and I wanted a new car to hold me over until the Tesla Model 3 comes out thanks for the help.

kyfdx

@ayobonus We can't evaluate the deal, without knowing whether they are assigning positive or negative equity from your current vehicle.

I certainly wouldn't want to put out $2000, plus $20/mo. more, rather than just waiting 9 months and looking again when your lease is up.

eerriicc

What is the current MF and residual for Southern California on a 36/10 lease?

Michaell

eerriicc said:

What is the current MF and residual for Southern California on a 36/10 lease?

What trim level?

honda doesn't offer 10k leases; 12k is the lowest mileage allowance

eerriicc

Trim level LX.

Michaell

eerriicc said:

What is the current MF and residual for Southern California on a 36/10 lease?

eerriicc said:

Trim level LX.

36/12 on Civic LX - .00083 and 64%

onebetter

Would you advise about the MF and RV for 2016 CIVIC EX-L and EX-L w/sensing for Long Island, NY for 36/12 and 36/15. Thanks. Also, is there any lease cash available?

Michaell

onebetter said:

Would you advise about the MF and RV for 2016 CIVIC EX-L and EX-L w/sensing for Long Island, NY for 36/12 and 36/15. Thanks. Also, is there any lease cash available?

36/15 numbers:

.00083 and 60% for EX-L and 58% for EX-L Sensing. Add 2% for 12K.

No lease cash available on the new Civic.

gpapz125

ayobonus said:

Hi All, I wanted to get some assistance from a quote I got for a 2016 Honda Civic Touring. I currently have a Honda lease which I will be trading in for the 2016. My current lease: 2014 Honda Civic Coupe Miles: 20,376 Terms: 36 months - $269/mo - 12k mi/yr # of payments left: 9 Down payment: taxes, fees, registration (don't remember the total, but I put $0 down other than those fees) 2016 Honda Civic Touring Quote: Terms: 36 months - $290/mo (tax included) - 12k mi/yr Total Due at signing: $2000 (includes taxes, fees, registration, and some down payment) Residual: 60% Money Factor: .00083 Am I getting a good deal? Do I have any equity in the car that I'm leasing now? Should I be paying a little less since I'm trading in my current lease? Thanks!

Seems like a good deal. Especially for the touring. I have 5 payments left on my Hyundai lease and wish to trade it in towards a touring as well. I just don't understand the process of trading In a lease early. I have coworkers that do it all the time. One of them just want from Nissan to Honda with 4 payments left. And they didn't roll the payments in. And he isn't responsible for any fees. How is that so?

Any update on your deal? 

Michaell

Tra

gpapz125 said:

ayobonus said:

Hi All,

I wanted to get some assistance from a quote I got for a 2016 Honda Civic Touring. I currently have a Honda lease which I will be trading in for the 2016.

My current lease: 2014 Honda Civic Coupe
Miles: 20,376
Terms: 36 months - $269/mo - 12k mi/yr
# of payments left: 9
Down payment: taxes, fees, registration (don't remember the total, but I put $0 down other than those fees)

2016 Honda Civic Touring Quote:
Terms: 36 months - $290/mo (tax included) - 12k mi/yr
Total Due at signing: $2000 (includes taxes, fees, registration, and some down payment)
Residual: 60%
Money Factor: .00083

Am I getting a good deal? Do I have any equity in the car that I'm leasing now? Should I be paying a little less since I'm trading in my current lease?

Thanks!

Seems like a good deal. Especially for the touring. I have 5 payments left on my Hyundai lease and wish to trade it in towards a touring as well. I just don't understand the process of trading In a lease early. I have coworkers that do it all the time. One of them just want from Nissan to Honda with 4 payments left. And they didn't roll the payments in. And he isn't responsible for any fees. How is that so?

Any update on your deal? 

Trading out of a lease early is the same as trading out of a loan early. You have a payoff amount and a trade value. Find out the payoff amount of your Hyundai by calling HFS; you can get the trade value by either checking out the "Real World Trade in Values" discussion here at Edmunds or by taking your car to CarMax for a quote that is valid for 7 days.

gpapz125

Trading out of a lease early is the same as trading out of a loan early. You have a payoff amount and a trade value. Find out the payoff amount of your Hyundai by calling HFS; you can get the trade value by either checking out the "Real World Trade in Values" discussion here at Edmunds or by taking your car to CarMax for a quote that is valid for 7 days.

Thank you. Posting in that thread now. 

stenso14

Hey team! Can I get Civic Ex's residual and MF in Kansas City. 30/12k 32/12k 36/12k. Might need Missouri and Kansas. Hopefully not too much to ask for. Thank you in advance.

Michaell

stenso14 said:

Hey team! Can I get Civic Ex's residual and MF in Kansas City. 30/12k 32/12k 36/12k. Might need Missouri and Kansas. Hopefully not too much to ask for. Thank you in advance.

.00083 and 67% / 65% / 64%

ruf123

What's the residual and MF for a 2016 Honda Civic LX in NJ?

Michaell

ruf123 said:

What's the residual and MF for a 2016 Honda Civic LX in NJ?

62% and .00083 for 36 months, 15,000 miles per year

ruf123

What about for 12k a year? 

Michaell

ruf123 said:

What about for 12k a year? 

64%

121212121

Hello,

Trying to decide on the best value Civic.

Im in Texas, and pretty set on a 36 mo / 12k lease.

Could I please have the MF / Residual on these trims?

EX, EX-T, EX-L, and Touring?

The Touring is probably a long shot, but sometimes the math is funny and works out. Thanks!