2016 Honda Civic Lease Questions

caseyf1970

I posted this in the wrong forum priviously, sorry for the duplication. I am in Texas

2016 Civic LX Sedan

MSRP 20,275
Sales Price: 18616
Capitalized Cost 20374.5 (includes 6.25 Sales Tax plus 495, not sure for what)
Money factor .00083
monthly payment: 238.66
due at signing: $550

3yr/36K miles

I haven't gotten into the details at the dealership, this is their first proposal via email. Wondering what the residual is and if there are any incentives in play. Is this a good deal?

Thanks,
Casey

Michaell

caseyf1970 said:

I posted this in the wrong forum priviously, sorry for the duplication. I am in Texas

2016 Civic LX Sedan

MSRP 20,275
Sales Price: 18616
Capitalized Cost 20374.5 (includes 6.25 Sales Tax plus 495, not sure for what)
Money factor .00083
monthly payment: 238.66
due at signing: $550

3yr/36K miles

I haven't gotten into the details at the dealership, this is their first proposal via email. Wondering what the residual is and if there are any incentives in play. Is this a good deal?

Thanks,
Casey

63% residual. I get the same payment; only way to make this better is to negotiate a lower selling price.

caseyf1970

thanks!

lulug16

I'm looking for current residual values and MF for a 2016 Honda Civic sedan 36 months 15,000 a year on Touring and Lx trims in the Crown Point Indiana area thank you!

kyfdx

lulug16 said:

I'm looking for current residual values and MF for a 2016 Honda Civic sedan 36 months 15,000 a year on Touring and Lx trims in the Crown Point Indiana area thank you!

.00083 MF and 56%/61% residual (Touring/LX).

ccrover

Hi, 2016 Honda Civic Sedan EX-T. New Hampshire, 36 months, 12000 miles per year. Was wondering MF/Residual.

Michaell

ccrover said:

Hi, 2016 Honda Civic Sedan EX-T. New Hampshire, 36 months, 12000 miles per year. Was wondering MF/Residual.

63% and .00083

alex801

Hi, looking for current residual values and MF for a 2016 Honda Civic EX-L sedan 36 months 12,000 a year. This is in Jupiter FL.

TIA

Michaell

alex801 said:

Hi, looking for current residual values and MF for a 2016 Honda Civic EX-L sedan 36 months 12,000 a year. This is in Jupiter FL.

TIA

.00083 and 61%

boba77

Hi from Atlanta Georgia. Looking at a 2016 Civic 4 door Touring, MSRP 27335. Could you tell me the MF and RV for 36 month lease, 10k miles and 12k miles? Thank you in advance:)

Michaell

boba77 said:

Hi from Atlanta Georgia. Looking at a 2016 Civic 4 door Touring, MSRP 27335. Could you tell me the MF and RV for 36 month lease, 10k miles and 12k miles? Thank you in advance:)

Honda does not offer 10K leases; 36/12 numbers are .00083 and 58%

justinauto2016

Can I please get the June MF and RV for Civic EX-T in the Bay Area California

36/12 and 36/15

Also are there any incentives? Thanks!

kyfdx

justinauto2016 said:

Can I please get the June MF and RV for Civic EX-T in the Bay Area California

36/12 and 36/15

Also are there any incentives? Thanks!

.00083 MF and 63%/61% residual.

No incentives

mike_aaa

Please provide the June numbers for a civic ex w/ sensing
36/12000 NYC area

Michaell

mike_aaa said:

Please provide the June numbers for a civic ex w/ sensing
36/12000 NYC area

.00083 and 61%

steveriz

Can I please get 36/12 and 36/10 numbers for a Civic Touring in NY? Did any lease incentives come out for June? Thanks.

Michaell

steveriz said:

Can I please get 36/12 and 36/10 numbers for a Civic Touring in NY? Did any lease incentives come out for June? Thanks.

.00083 and 58% or 59%

No lease incentives.

steveriz

Thanks. Never owned a Honda before. I guess they are not too big on incentives like lease cash?

Michaell

steveriz said:

Thanks. Never owned a Honda before. I guess they are not too big on incentives like lease cash?

On other models (Accord, Odyssey), there is lease cash.

Civic is new and insanely popular. No reason to put incentives on it until sales start to slow down.

keyjey

Hi Michaell I went with with my wife to get her a FIT but apparently she doesn't like it anymore. . So we are in the market again and looking for a Civic now. I got the below quote from a dealer on Civic EX-L model (without sensing). It seems ok to me. Will appreciate your input

Michaell

keyjey said:

Hi Michaell I went with with my wife to get her a FIT but apparently she doesn't like it anymore. . So we are in the market again and looking for a Civic now. I got the below quote from a dealer on Civic EX-L model (without sensing). It seems ok to me. Will appreciate your input

I get $234.50/mo before tax, where the dealer shows $242.31 - so, there is a $281 difference in the adjusted cap cost.

.00083 and 61% for 36/12 on the Civic EX-L

keyjey

Michaell said:

Hi Michaell I went with with my wife to get her a FIT but apparently she doesn't like it anymore. . So we are in the market again and looking for a Civic now. I got the below quote from a dealer on Civic EX-L model (without sensing). It seems ok to me. Will appreciate your input

I get $234.50/mo before tax, where the dealer shows $242.31 - so, there is a $281 difference in the adjusted cap cost. .00083 and 61% for 36/12 on the Civic EX-L

Ok. So in that price do you think the deal is good?

Michaell

keyjey said:

Michaell said:

keyjey said:

Hi Michaell I went with with my wife to get her a FIT but apparently she doesn't like it anymore. . So we are in the market again and looking for a Civic now. I got the below quote from a dealer on Civic EX-L model (without sensing). It seems ok to me. Will appreciate your input

I get $234.50/mo before tax, where the dealer shows $242.31 - so, there is a $281 difference in the adjusted cap cost.

.00083 and 61% for 36/12 on the Civic EX-L

Ok. So in that price do you think the deal is good?

The math is the math - I'd ask the dealer to confirm the adjusted cap cost.

sravdeals

Hi

Can anyone let me know if the quote i got is ok from the dealer for civic touring?

They are quoting 325 including taxes per month.. My credit score is above 750

http://i.imgur.com/zB0Et1A.jpg?1

Michaell

sravdeals said:

Hi

Can anyone let me know if the quote i got is ok from the dealer for civic touring?

They are quoting 325 including taxes per month.. My credit score is above 750

http://i.imgur.com/zB0Et1A.jpg?1

AutoNation strikes again ..

That is a purchase quote; sales tax is levied against the monthly payment in all but 4 states (TX, MD, GA and VA). Since this is CA, the numbers are bogus.

And, no mention of the MF or residual, which for the Touring are .00083 and 56% for 36 months, 15,000 miles per year.

Using the MSRP and the AutoNation price, assuming you pay the fees up front (oh, BTW, there is a bank fee due as well when you lease), I get $291/mo before tax; 9% tax takes the payment to $317/mo.

Get the adjusted cap cost from the dealer, and make sure you understand how they got to that number from the selling price.

sravdeals

Michaell said:

sravdeals said:

Hi

Can anyone let me know if the quote i got is ok from the dealer for civic touring?

They are quoting 325 including taxes per month.. My credit score is above 750

http://i.imgur.com/zB0Et1A.jpg?1

AutoNation strikes again ..

That is a purchase quote; sales tax is levied against the monthly payment in all but 4 states (TX, MD, GA and VA). Since this is CA, the numbers are bogus.

And, no mention of the MF or residual, which for the Touring are .00083 and 56% for 36 months, 15,000 miles per year.

Using the MSRP and the AutoNation price, assuming you pay the fees up front (oh, BTW, there is a bank fee due as well when you lease), I get $291/mo before tax; 9% tax takes the payment to $317/mo.

Get the adjusted cap cost from the dealer, and make sure you understand how they got to that number from the selling price.

Thanks for your reply. So from your calculations i am looking around $317 per month? Is it a good price? I request them the missing details again. I will see what their response is and post more details here.

Thanks

sravdeals

Michaell said:

sravdeals said:

Hi

Can anyone let me know if the quote i got is ok from the dealer for civic touring?

They are quoting 325 including taxes per month.. My credit score is above 750

http://i.imgur.com/zB0Et1A.jpg?1

AutoNation strikes again ..

That is a purchase quote; sales tax is levied against the monthly payment in all but 4 states (TX, MD, GA and VA). Since this is CA, the numbers are bogus.

And, no mention of the MF or residual, which for the Touring are .00083 and 56% for 36 months, 15,000 miles per year.

Using the MSRP and the AutoNation price, assuming you pay the fees up front (oh, BTW, there is a bank fee due as well when you lease), I get $291/mo before tax; 9% tax takes the payment to $317/mo.

Get the adjusted cap cost from the dealer, and make sure you understand how they got to that number from the selling price.

Ok So i got a response and here it is

"The top box is a cash only, the payments box is below with sales tax included in the payment. The other answers to your questions are below.

MF: 0.00073 Res %: 58 Res $: 15,854.30 "

Can you let me know if this is good? I am new to leasing.. Thanks

Michaell

sravdeals said:

Michaell said:

sravdeals said:

Hi

Can anyone let me know if the quote i got is ok from the dealer for civic touring?

They are quoting 325 including taxes per month.. My credit score is above 750

http://i.imgur.com/zB0Et1A.jpg?1

AutoNation strikes again ..

That is a purchase quote; sales tax is levied against the monthly payment in all but 4 states (TX, MD, GA and VA). Since this is CA, the numbers are bogus.

And, no mention of the MF or residual, which for the Touring are .00083 and 56% for 36 months, 15,000 miles per year.

Using the MSRP and the AutoNation price, assuming you pay the fees up front (oh, BTW, there is a bank fee due as well when you lease), I get $291/mo before tax; 9% tax takes the payment to $317/mo.

Get the adjusted cap cost from the dealer, and make sure you understand how they got to that number from the selling price.

Ok So i got a response and here it is

"The top box is a cash only, the payments box is below with sales tax included in the payment. The other answers to your questions are below.

MF: 0.00073 Res %: 58 Res $: 15,854.30 "

Can you let me know if this is good? I am new to leasing.. Thanks

58% is for 36 months, 12,000 miles per year. Will that be enough?

.00073 is the MF for a 'sign and drive' lease - dealer makes first payment, and the bank fee is added into the lease.

I would recommend reviewing the articles on this page to familiarize yourself with leasing:

http://www.edmunds.com/car-leasing/

sravdeals

Michaell said:

sravdeals said:

Michaell said:

sravdeals said:

Hi

Can anyone let me know if the quote i got is ok from the dealer for civic touring?

They are quoting 325 including taxes per month.. My credit score is above 750

http://i.imgur.com/zB0Et1A.jpg?1

AutoNation strikes again ..

That is a purchase quote; sales tax is levied against the monthly payment in all but 4 states (TX, MD, GA and VA). Since this is CA, the numbers are bogus.

And, no mention of the MF or residual, which for the Touring are .00083 and 56% for 36 months, 15,000 miles per year.

Using the MSRP and the AutoNation price, assuming you pay the fees up front (oh, BTW, there is a bank fee due as well when you lease), I get $291/mo before tax; 9% tax takes the payment to $317/mo.

Get the adjusted cap cost from the dealer, and make sure you understand how they got to that number from the selling price.

Ok So i got a response and here it is

"The top box is a cash only, the payments box is below with sales tax included in the payment. The other answers to your questions are below.

MF: 0.00073 Res %: 58 Res $: 15,854.30 "

Can you let me know if this is good? I am new to leasing.. Thanks

58% is for 36 months, 12,000 miles per year. Will that be enough?

.00073 is the MF for a 'sign and drive' lease - dealer makes first payment, and the bank fee is added into the lease.

I would recommend reviewing the articles on this page to familiarize yourself with leasing:

http://www.edmunds.com/car-leasing/

Yes for me 12k per year is fine.. I calculated using lease calculator using the values he provided and i got 293 including taxes. So i asked him where is he getting the 325 from. He said it looks like fees and gave me this picture

Michaell

sravdeals said:

Michaell said:

sravdeals said:

Michaell said:

sravdeals said:

Hi

Can anyone let me know if the quote i got is ok from the dealer for civic touring?

They are quoting 325 including taxes per month.. My credit score is above 750

http://i.imgur.com/zB0Et1A.jpg?1

AutoNation strikes again ..

That is a purchase quote; sales tax is levied against the monthly payment in all but 4 states (TX, MD, GA and VA). Since this is CA, the numbers are bogus.

And, no mention of the MF or residual, which for the Touring are .00083 and 56% for 36 months, 15,000 miles per year.

Using the MSRP and the AutoNation price, assuming you pay the fees up front (oh, BTW, there is a bank fee due as well when you lease), I get $291/mo before tax; 9% tax takes the payment to $317/mo.

Get the adjusted cap cost from the dealer, and make sure you understand how they got to that number from the selling price.

Ok So i got a response and here it is

"The top box is a cash only, the payments box is below with sales tax included in the payment. The other answers to your questions are below.

MF: 0.00073 Res %: 58 Res $: 15,854.30 "

Can you let me know if this is good? I am new to leasing.. Thanks

58% is for 36 months, 12,000 miles per year. Will that be enough?

.00073 is the MF for a 'sign and drive' lease - dealer makes first payment, and the bank fee is added into the lease.

I would recommend reviewing the articles on this page to familiarize yourself with leasing:

http://www.edmunds.com/car-leasing/

Yes for me 12k per year is fine.. I calculated using lease calculator using the values he provided and i got 293 including taxes. So i asked him where is he getting the 325 from. He said it looks like fees and gave me this picture

All that information and yet, I don't see a selling price or an adjusted cap cost - knowing that numbers should unlock the mysteries behind the payment.

keyjey

So I have got another quote from dealer here NorCal which is I think is good. Let me know how it is. I haven't been able to find anything better than this.

shrey_mehta

keyjey said:

So I have got another quote from dealer here NorCal which is I think is good. Let me know how it is. I haven't been able to find anything better than this.

This quote is for which trim level ?

keyjey

This is for EX-L without navigation

Michaell

keyjey said:

So I have got another quote from dealer here NorCal which is I think is good. Let me know how it is. I haven't been able to find anything better than this.

I confirm the MF and residual.

The payment quotes are within $1 of my calculations. If you're comfortable with the selling price, no reason not to pull the trigger.

BTW, we don't recommend a cap reduction to lower the payment. That money would be lost if the car is stolen or totaled.

kyfdx

Wouldn't it be cool, if every dealer presented a quote in that format, with all of that complete information?

keyjey

kyfdx said:

Wouldn't it be cool, if every dealer presented a quote in that format, with all of that complete information?

Yeah that would be nice....good thing about the dealer was he never pressed me to come to store or make an appointment to give the numbers. I have a few more dealers nearby who are willing to price match this quote but I think I am gonna go with original dealer even though he is a bit far from my place and also since he was very upfront.

keyjey

Michaell said:

keyjey said:

So I have got another quote from dealer here NorCal which is I think is good. Let me know how it is. I haven't been able to find anything better than this.

I confirm the MF and residual.

The payment quotes are within $1 of my calculations. If you're comfortable with the selling price, no reason not to pull the trigger.

BTW, we don't recommend a cap reduction to lower the payment. That money would be lost if the car is stolen or totaled.

Thank you. Appreciate all your help. Don't think I have found a better selling price yet. Have look as far as Southern California near Anaheim. Hoping to pick up this weekend.

shrey_mehta

keyjey said:

Michaell said:

keyjey said:

So I have got another quote from dealer here NorCal which is I think is good. Let me know how it is. I haven't been able to find anything better than this.

I confirm the MF and residual.

The payment quotes are within $1 of my calculations. If you're comfortable with the selling price, no reason not to pull the trigger.

BTW, we don't recommend a cap reduction to lower the payment. That money would be lost if the car is stolen or totaled.

Thank you. Appreciate all your help. Don't think I have found a better selling price yet. Have look as far as Southern California near Anaheim. Hoping to pick up this weekend.

May I ask from which Dealership you got this price ? I am also in Bay area working with some of the bay area dealerships to get Civic EX-T quotes.

keyjey

shrey_mehta said:

keyjey said:

Michaell said:

keyjey said:

So I have got another quote from dealer here NorCal which is I think is good. Let me know how it is. I haven't been able to find anything better than this.

I confirm the MF and residual.

The payment quotes are within $1 of my calculations. If you're comfortable with the selling price, no reason not to pull the trigger.

BTW, we don't recommend a cap reduction to lower the payment. That money would be lost if the car is stolen or totaled.

Thank you. Appreciate all your help. Don't think I have found a better selling price yet. Have look as far as Southern California near Anaheim. Hoping to pick up this weekend.

May I ask from which Dealership you got this price ? I am also in Bay area working with some of the bay area dealerships to get Civic EX-T quotes.

Manly Honda at Santa Rosa

steveriz

Hi I have received my best price on a Civic EXL Nav of $23,477. I live in NY with 8.75% tax. If I decide to lease it with $1000 total out of pocket what would a good lease quote be?

kyfdx

steveriz said:

Hi I have received my best price on a Civic EXL Nav of $23,477. I live in NY with 8.75% tax. If I decide to lease it with $1000 total out of pocket what would a good lease quote be?

What is the MSRP?
What term?
Mileage allowance?

steveriz

sorry MSRP is $25,535. I am looking for a 36 mo 10K mi lease.

kyfdx

steveriz said:

sorry MSRP is $25,535. I am looking for a 36 mo 10K mi lease.

.00083 MF and 61% residual.

If you roll the tax in, and pay the acquisition fee, title/license and 1st payment upfront, about $276/mo.

jbviau22

Hi. This thread was helpful when we were negotiating our lease deal on a 2016 Civic EX-T (no Sensing) last month, so I figured I'd post the numbers we got. We signed our lease agreement on 5/28/16 at Autonation Honda Hollywood (FL).

Bottom line:
$400 down, $259 per mo. for a 36 mo./12k lease. TTL, all fees, and first month's payment were rolled into the deal. Financing was best available through Honda at the time, i.e. 1.9%.

Fine print:
Gross/adjusted capitalized cost: $22211.01
> "Agreed upon value of vehicle": $20916.06 (including wheel locks)
> Acquisition fee: $595
> Dealer service fee: $699.95
Residual: $14512.05
Rent charge: $1097.28
Monthly payment: $259.00
> Base monthly payment: $244.34
> Monthly sales/use tax: $14.66

Did we do ok? We're happy, and we love the car so far. Thanks, --Josh

Michaell

jbviau22 said:

Hi. This thread was helpful when we were negotiating our lease deal on a 2016 Civic EX-T (no Sensing) last month, so I figured I'd post the numbers we got. We signed our lease agreement on 5/28/16 at Autonation Honda Hollywood (FL).

Bottom line:
$400 down, $259 per mo. for a 36 mo./12k lease. TTL, all fees, and first month's payment were rolled into the deal. Financing was best available through Honda at the time, i.e. 1.9%.

Fine print:
Gross/adjusted capitalized cost: $22211.01
> "Agreed upon value of vehicle": $20916.06 (including wheel locks)
> Acquisition fee: $595
> Dealer service fee: $699.95
Residual: $14512.05
Rent charge: $1097.28
Monthly payment: $259.00
> Base monthly payment: $244.34
> Monthly sales/use tax: $14.66

Did we do ok? We're happy, and we love the car so far. Thanks, --Josh

Given the large dealer fee you have to deal with in FL, I'd say you did OK. Enjoy the new Civic, and thanks for sharing your deal details with us.

shrey_mehta

Hi this is the first quote i got from a dealer. Should i wait for end of the month to save more or pull the trigger now ? I haven't negotiated yet.

$20,000 + Tax and Fees for 2016 Honda Civic EX-T.

Here are some Lease payment options based on a 36 month lease, 12,000 miles per year, and qualifying credit.

$0.00 down payment - $233/month
$1,000 down payment - $204/month
$2,000 down payment - $175/month
$3,000 down payment - $146/month

Michaell

shrey_mehta said:

Hi this is the first quote i got from a dealer. Should i wait for end of the month to save more or pull the trigger now ? I haven't negotiated yet.

$20,000 + Tax and Fees for 2016 Honda Civic EX-T.

Here are some Lease payment options based on a 36 month lease, 12,000 miles per year, and qualifying credit.

$0.00 down payment - $233/month
$1,000 down payment - $204/month
$2,000 down payment - $175/month
$3,000 down payment - $146/month

.00083 and 63%

What is the MSRP?

We do not recommend making a down payment on a lease - that money would be lost if the car was stolen or totaled.

There is a fairly active Civic Prices Paid forum here; you might check it out to see what others have been able to negotiate on a new car.

shrey_mehta

Michaell said:

shrey_mehta said:

Hi this is the first quote i got from a dealer. Should i wait for end of the month to save more or pull the trigger now ? I haven't negotiated yet.

$20,000 + Tax and Fees for 2016 Honda Civic EX-T.

Here are some Lease payment options based on a 36 month lease, 12,000 miles per year, and qualifying credit.

$0.00 down payment - $233/month
$1,000 down payment - $204/month
$2,000 down payment - $175/month
$3,000 down payment - $146/month

.00083 and 63%

What is the MSRP?

We do not recommend making a down payment on a lease - that money would be lost if the car was stolen or totaled.

There is a fairly active Civic Prices Paid forum here; you might check it out to see what others have been able to negotiate on a new car.

MSRP is $23,035 on dealers website. I have asked dealer for a proper breakdown of quote. Will keep you posted.

NicholasT

Hi, looking to see if I am getting a good deal, or if the guy is honest. I've got the following lease offer.

In Maine (MSRP 29505)
2016 Honda Accord EX-L Sedan white
Balance due $25,080 (includes all fees)
Residual $16522.8
MF - He says I am getting .00038

36m/12k year

Cost is $288.55 per month.

Does this sound accurate?

Thanks in advance!

Michaell

NicholasT said:

Hi, looking to see if I am getting a good deal, or if the guy is honest. I've got the following lease offer.

2016 Honda Accord EX-L Sedan white
Balance due $25,080 (includes all fees)
Residual $16522.8
MF - He says I am getting .00038

36m/12k year

Cost is $288.55 per month.

Does this sound accurate?

Thanks in advance!

You do realize this is the Civic forum, not the Accord.

Accord lease discussion is here:

http://forums.edmunds.com/discussion/36784/honda/accord/2016-honda-accord-lease-questions#latest