2016 Honda Civic Lease Questions

NicholasT

Nope, 1st timer! I'm outta here Thanks!!

shrey_mehta

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Michaell

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

shrey_mehta

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what I got, similar to yours, i have also added $500 taxed incentive (grad rebate) in above calculation. Do you suggest to pay all the acquisition fees, dealer fees, title, dmv fees upfront?

As we know - The "adjusted' capitalized cost of the vehicle includes any trade allowance, downpayment, incentives, and rebates that may have been applied to reduce the capitalized cost.

I don't have any trade. I will get Grad rebate, but I am not sure should I first negotiate the Sale price and then later tell that I can avail grad rebate too.
Are there any lease incentives on Honda Civic's ?

Thanks again for your help @Michaell .

cmarinelli

Hi kyfdx and Michaell,

First, thank you both for the valuable service you provide to us consumers. To have the correct numbers available to us is a big help in negotiations.

I was hoping to get the MF and residual % for a Civic Sedan EX-T with Honda Sensing, 36/10K and 36/12K. I've seen you quote 10K to some people in New York, I'm hoping that is available in my area of NY (LI).

Thanks in advance,
Chris

kyfdx

cmarinelli said:

Hi kyfdx and Michaell,

First, thank you both for the valuable service you provide to us consumers. To have the correct numbers available to us is a big help in negotiations.

I was hoping to get the MF and residual % for a Civic Sedan EX-T with Honda Sensing, 36/10K and 36/12K. I've seen you quote 10K to some people in New York, I'm hoping that is available in my area of NY (LI).

Thanks in advance,
Chris

.00083 MF and 61% residual for 36/12.

If 10K/yr is available, add 1%

shrey_mehta

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

Michaell

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

shrey_mehta

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Michaell

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

shrey_mehta

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

Michaell

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

shrey_mehta

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

kyfdx

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

shrey_mehta

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

Michaell

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

shrey_mehta

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

Michaell

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

shrey_mehta

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

Michaell

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

You can have both.

cnote2

36m 15k/12k ex-t and touring sedan numbers in PA. Any lease cash?

Michaell

cnote2 said:

36m 15k/12k ex-t and touring sedan numbers in PA. Any lease cash?

36/15 numbers:

.00083 and 61% (EX-T) or 56% (Touring). Add 2% for 12K

No lease cash on the Civics.

shrey_mehta

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

You can have both.

Hey @Michaell , this is what i found on offer details automobiles.honda.com/current-offers.aspx?ModelName=Civic+Sedan. -

Only one $500 Honda College Graduate Bonus offer per vehicle. Offer cannot be combined with Zero Due at Signing Lease program.

I haven't asked the dealer yet.

Michaell

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

You can have both.

Hey @Michaell , this is what i found on offer details automobiles.honda.com/current-offers.aspx?ModelName=Civic+Sedan. -

Only one $500 Honda College Graduate Bonus offer per vehicle. Offer cannot be combined with Zero Due at Signing Lease program.

I haven't asked the dealer yet.

Whoops - my bad. I really thought they could be combined. No need to ask the dealer - they are governed by the terms and conditions set by Honda Finance.

shrey_mehta

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

You can have both.

Hey @Michaell , this is what i found on offer details automobiles.honda.com/current-offers.aspx?ModelName=Civic+Sedan. -

Only one $500 Honda College Graduate Bonus offer per vehicle. Offer cannot be combined with Zero Due at Signing Lease program.

I haven't asked the dealer yet.

Whoops - my bad. I really thought they could be combined. No need to ask the dealer - they are governed by the terms and conditions set by Honda Finance.

No problem @Michaell , I learned one more thing regarding the Grad program if you are leasing. I have to put 5% down. Look at this screenshot and here is the link - http://automobiles.honda.com/current-offers.aspx



In this case, 5% of Selling price that is 5% of 20000 = $1000 dollars.
I can use $500 grad rebate + $595 acquisition fees towards down.

What do you suggest ? Do i have to really put 5%, i have good credit standing.

shrey_mehta

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

You can have both.

Hey @Michaell , this is what i found on offer details automobiles.honda.com/current-offers.aspx?ModelName=Civic+Sedan. -

Only one $500 Honda College Graduate Bonus offer per vehicle. Offer cannot be combined with Zero Due at Signing Lease program.

I haven't asked the dealer yet.

Whoops - my bad. I really thought they could be combined. No need to ask the dealer - they are governed by the terms and conditions set by Honda Finance.

No problem @Michaell , I learned one more thing regarding the Grad program if you are leasing. I have to put 5% down. Look at this screenshot and here is the link - http://automobiles.honda.com/current-offers.aspx



In this case, 5% of Selling price that is 5% of 20000 = $1000 dollars.
I can use $500 grad rebate + $595 acquisition fees towards down.

What do you suggest ? Do i have to really put 5%, i have good credit standing.

@Michaell After putting all the numbers in the lease formula / calculator. I get payment of $ 206.69 approx, but the dealer says his system is showing monthly payment at $217.30 /month for the EX-T with zero due at signing.

Can you please verify. Here is how I calculated.

I was also doing the lease payment calculations based on the numbers dealer provided.

Depreciation Cost / month = ( Cap Cost - Residual ) / Term
Depreciation Cost / month = ( 19500 - 14512.05 ) 36 = 4987.95 / 36 = 138.55 /month

Finance Cost = ( Cap Cost + Residual ) x MF
Finance Cost = ( 19500 + 14512.05 ) x 0.00083 = 34,012.05 x 0.00083 = 28.23 / month

Monthly Payment = Depriciation Cost + Finance Cost
Monthly Payment = 138.55 + 28.23 = 166.88 / month

Usage Taxes = 8.75 % of 4988.00 = $1 4.59
Monthly Payment with Taxes = $ 181.47

Acquisition fees + Registration / License fees + Doc fees = 595 + 233+ 80 = $ 908 approx , may vary based on registartion address.
Spreaded in 36 month = 908 / 36 = 25.22 aprrox


Final monthly payment with taxes + Acquisition fees + Registration / License fees + Doc fees = 181.47 + 25.22 = $ 206.69 approx.

--------------------------------------------------------------------------------

Here is a complete break down of the final lease payment from dealer...

MSRP: $23,035
Sale Price: $20,026
Residual Value: $14,512.05
Money Factor: 0.00083
Drive Off Fee: $566.55
Acquisition Fee: $595.00
DMV Tire Fee: $8.75
DMV ET Fee: $20.50
DMV Title & Reg: $233.00
Grad Assist: (-500.00)

Base Payment: $199.82
Tax: $17.48
Total Payment: $217.30

carperso

keyjey said:

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.

Quote is quite competitive and upfront. You should definitely go with this dealer. Transparent pricing.

Michaell

shrey_mehta said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

You can have both.

Hey @Michaell , this is what i found on offer details automobiles.honda.com/current-offers.aspx?ModelName=Civic+Sedan. -

Only one $500 Honda College Graduate Bonus offer per vehicle. Offer cannot be combined with Zero Due at Signing Lease program.

I haven't asked the dealer yet.

Whoops - my bad. I really thought they could be combined. No need to ask the dealer - they are governed by the terms and conditions set by Honda Finance.

No problem @Michaell , I learned one more thing regarding the Grad program if you are leasing. I have to put 5% down. Look at this screenshot and here is the link - http://automobiles.honda.com/current-offers.aspx



In this case, 5% of Selling price that is 5% of 20000 = $1000 dollars.
I can use $500 grad rebate + $595 acquisition fees towards down.

What do you suggest ? Do i have to really put 5%, i have good credit standing.

@Michaell After putting all the numbers in the lease formula / calculator. I get payment of $ 206.69 approx, but the dealer says his system is showing monthly payment at $217.30 /month for the EX-T with zero due at signing.

Can you please verify. Here is how I calculated.

I was also doing the lease payment calculations based on the numbers dealer provided.

Depreciation Cost / month = ( Cap Cost - Residual ) / Term
Depreciation Cost / month = ( 19500 - 14512.05 ) 36 = 4987.95 / 36 = 138.55 /month

Finance Cost = ( Cap Cost + Residual ) x MF
Finance Cost = ( 19500 + 14512.05 ) x 0.00083 = 34,012.05 x 0.00083 = 28.23 / month

Monthly Payment = Depriciation Cost + Finance Cost
Monthly Payment = 138.55 + 28.23 = 166.88 / month

Usage Taxes = 8.75 % of 4988.00 = $1 4.59
Monthly Payment with Taxes = $ 181.47

Acquisition fees + Registration / License fees + Doc fees = 595 + 233+ 80 = $ 908 approx , may vary based on registartion address.
Spreaded in 36 month = 908 / 36 = 25.22 aprrox


Final monthly payment with taxes + Acquisition fees + Registration / License fees + Doc fees = 181.47 + 25.22 = $ 206.69 approx.

--------------------------------------------------------------------------------

Here is a complete break down of the final lease payment from dealer...

MSRP: $23,035
Sale Price: $20,026
Residual Value: $14,512.05
Money Factor: 0.00083
Drive Off Fee: $566.55
Acquisition Fee: $595.00
DMV Tire Fee: $8.75
DMV ET Fee: $20.50
DMV Title & Reg: $233.00
Grad Assist: (-500.00)

Base Payment: $199.82
Tax: $17.48
Total Payment: $217.30

The only thing I see that's different is the $566.55 "drive off fee" from the dealer - what is this?

EDIT - the fees and such should be added into the cap cost; they are subject to both interest and tax if you roll them into the lease. That could also be part of the difference in payment.

shrey_mehta

@Michaell According to dealer - the drive off fee is 1st payment, tax, and DMV fees.

I didn't quite understand, why is the 1st payment getting added in drive off. It should be due a month after the purchase. This means 36+1 =37 payments. Right ?

kyfdx

shrey_mehta said:

@Michaell According to dealer - the drive off fee is 1st payment, tax, and DMV fees.

I didn't quite understand, why is the 1st payment getting added in drive off. It should be due a month after the purchase. This means 36+1 =37 payments. Right ?

Lease payments are made in advance, just like rent.

shrey_mehta

kyfdx said:

shrey_mehta said:

@Michaell According to dealer - the drive off fee is 1st payment, tax, and DMV fees.

I didn't quite understand, why is the 1st payment getting added in drive off. It should be due a month after the purchase. This means 36+1 =37 payments. Right ?

Lease payments are made in advance, just like rent.

So whatever I was quoted for, does everything looks alright to you @kyfdx ?
Although this is one of the best deal I have found, and dealer is also ready to do home delivery of the vehicle without any cost. Its 100 miles away from my place

klnmcmg

MF and RV for Civic Sedan Touring 36/15 in NC?

Michaell

klnmcmg said:

MF and RV for Civic Sedan Touring 36/15 in NC?

.00083 and 56%

koguma

MF and RV for Civic sedan EX and Touring 24 months / 10000 miles for Northern VA / DC area please ?

hurr1c4n3

Hello,

I am interested in the Money Factor and Residual of a Honda Civic Touring for 15k/36months, 12k/36months & 10k/36 months in Florida.

Also, do you have the Money Factor and Residual of a Honda Civic EX-L in Florida for the 3 combinations mentioned above.

Thank you!

Michaell

koguma said:

MF and RV for Civic sedan EX and Touring 24 months / 10000 miles for Northern VA / DC area please ?

Honda does not offer a 10,000 mile per year lease option. 24/12 on the EX is .00083 and 69%. For the touring, the residual a 64%.

Michaell

hurr1c4n3 said:

Hello,

I am interested in the Money Factor and Residual of a Honda Civic Touring for 15k/36months, 12k/36months & 10k/36 months in Florida.

Also, do you have the Money Factor and Residual of a Honda Civic EX-L in Florida for the 3 combinations mentioned above.

Thank you!

As noted in my previous post, Honda does not offer a 10,000 mile per lease option. Money factor is .00083, and the 36/15 residual for the EX-L is 59%; for the touring, 56%. Add 2% for 12,000 miles per year.

bzimma1

Looking for the residual on the EX-L on a 36/12k with or without honda-sense in Massachusetts?
Getting quotes from dealers with 0 down in the $310 range with tax based on a discounted purchase price of 22600 and MF of 0.00083.

Thanks!
Brandon

Michaell

bzimma1 said:

Looking for the residual on the EX-L on a 36/12k with or without honda-sense in Massachusetts?
Getting quotes from dealers with 0 down in the $310 range with tax based on a discounted purchase price of 22600 and MF of 0.00083.

Thanks!
Brandon

EX-L w/o Sensing - 61%
EX-L w/ Sensing - 59%

Need to know the MSRP in order to calculate the payment.

shrey_mehta

Got my new Honda Civic EX-T 2016 model delivered at my doorstep today.
Thanks @Michaell and everyone here for your guidance.

I am leasing the car for 36 months , 12k miles per year. My monthly payment including everything is $220. I have posted all my quotes above. Please refer them for the breakdown.

Michaell

shrey_mehta said:

Got my new Honda Civic EX-T 2016 model delivered at my doorstep today.
Thanks @Michaell and everyone here for your guidance.

I am leasing the car for 36 months , 12k miles per year. My monthly payment including everything is $220. I have posted all my quotes above. Please refer them for the breakdown.

Congrats! Enjoy your new Civic.

Use the link in my signature block to write up a dealer review.

Civic EX-T is on my list to test drive when my current lease expires later this year.

bzimma1

Michaell said:

bzimma1 said:

Looking for the residual on the EX-L on a 36/12k with or without honda-sense in Massachusetts?
Getting quotes from dealers with 0 down in the $310 range with tax based on a discounted purchase price of 22600 and MF of 0.00083.

Thanks!
Brandon

EX-L w/o Sensing - 61%
EX-L w/ Sensing - 59%

Need to know the MSRP in order to calculate the payment.

MSRP is 24700 plus 850 freight.
Seems like they are giving a fair deal but just seems high for a civic. Haven't figured out why adding the honda sensing lower residual value. I would think that in 3 years, people wouldn't considering a car without these kind of features.

Appreciate your help.

Also, two dealerships when I asked about the cosmic blue said that there are zero in stock in all of New England in this trim. Either they are full of it and trying to unload other colors or Honda really is making the blue a limited edition.....

kyfdx

bzimma1 said:

Michaell said:

bzimma1 said:

Looking for the residual on the EX-L on a 36/12k with or without honda-sense in Massachusetts?
Getting quotes from dealers with 0 down in the $310 range with tax based on a discounted purchase price of 22600 and MF of 0.00083.

Thanks!
Brandon

EX-L w/o Sensing - 61%
EX-L w/ Sensing - 59%

Need to know the MSRP in order to calculate the payment.

MSRP is 24700 plus 850 freight.
Seems like they are giving a fair deal but just seems high for a civic. Haven't figured out why adding the honda sensing lower residual value. I would think that in 3 years, people wouldn't considering a car without these kind of features.

Appreciate your help.

Also, two dealerships when I asked about the cosmic blue said that there are zero in stock in all of New England in this trim. Either they are full of it and trying to unload other colors or Honda really is making the blue a limited edition.....

Is that the MSRP with or without sensing?

Civic are very popular. No factory incentives. I doubt any dealers are manipulating the availability of a certain color. If you want it, it's likely others do, as well.

It's pretty typical for expensive options to lower the residual, as they depreciate faster than the car itself. Honda has been doing this for decades. It started with NAV.

bzimma1

kyfdx said:

bzimma1 said:

Michaell said:

bzimma1 said:

Looking for the residual on the EX-L on a 36/12k with or without honda-sense in Massachusetts?
Getting quotes from dealers with 0 down in the $310 range with tax based on a discounted purchase price of 22600 and MF of 0.00083.

Thanks!
Brandon

EX-L w/o Sensing - 61%
EX-L w/ Sensing - 59%

Need to know the MSRP in order to calculate the payment.

MSRP is 24700 plus 850 freight.
Seems like they are giving a fair deal but just seems high for a civic. Haven't figured out why adding the honda sensing lower residual value. I would think that in 3 years, people wouldn't considering a car without these kind of features.

Appreciate your help.

Also, two dealerships when I asked about the cosmic blue said that there are zero in stock in all of New England in this trim. Either they are full of it and trying to unload other colors or Honda really is making the blue a limited edition.....

Is that the MSRP with or without sensing?

Civic are very popular. No factory incentives. I doubt any dealers are manipulating the availability of a certain color. If you want it, it's likely others do, as well.

It's pretty typical for expensive options to lower the residual, as they depreciate faster than the car itself. Honda has been doing this for decades. It started with NAV.

That is the MSRP with Honda sensing, sorry. Honda sensing I believe is just a ~1000$ add on these days.

Good to know about the color but two other dealers I spoke to said they can get the blue but not sure if they are just lying to get me in the door.

Thanks again.

So what I am sensing is that EX-L + HS for ~290/month + tx is probably a decent deal? Or is there more room to negotiate there?

carperso

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

You can have both.

Hey @Michaell , this is what i found on offer details automobiles.honda.com/current-offers.aspx?ModelName=Civic+Sedan. -

Only one $500 Honda College Graduate Bonus offer per vehicle. Offer cannot be combined with Zero Due at Signing Lease program.

I haven't asked the dealer yet.

Whoops - my bad. I really thought they could be combined. No need to ask the dealer - they are governed by the terms and conditions set by Honda Finance.

No problem @Michaell , I learned one more thing regarding the Grad program if you are leasing. I have to put 5% down. Look at this screenshot and here is the link - http://automobiles.honda.com/current-offers.aspx



In this case, 5% of Selling price that is 5% of 20000 = $1000 dollars.
I can use $500 grad rebate + $595 acquisition fees towards down.

What do you suggest ? Do i have to really put 5%, i have good credit standing.

What docs are you required to submit for the grad rebate?

kyfdx

bzimma1 said:

kyfdx said:

bzimma1 said:

Michaell said:

bzimma1 said:

Looking for the residual on the EX-L on a 36/12k with or without honda-sense in Massachusetts?
Getting quotes from dealers with 0 down in the $310 range with tax based on a discounted purchase price of 22600 and MF of 0.00083.

Thanks!
Brandon

EX-L w/o Sensing - 61%
EX-L w/ Sensing - 59%

Need to know the MSRP in order to calculate the payment.

MSRP is 24700 plus 850 freight.
Seems like they are giving a fair deal but just seems high for a civic. Haven't figured out why adding the honda sensing lower residual value. I would think that in 3 years, people wouldn't considering a car without these kind of features.

Appreciate your help.

Also, two dealerships when I asked about the cosmic blue said that there are zero in stock in all of New England in this trim. Either they are full of it and trying to unload other colors or Honda really is making the blue a limited edition.....

Is that the MSRP with or without sensing?

Civic are very popular. No factory incentives. I doubt any dealers are manipulating the availability of a certain color. If you want it, it's likely others do, as well.

It's pretty typical for expensive options to lower the residual, as they depreciate faster than the car itself. Honda has been doing this for decades. It started with NAV.

That is the MSRP with Honda sensing, sorry. Honda sensing I believe is just a ~1000$ add on these days.

Good to know about the color but two other dealers I spoke to said they can get the blue but not sure if they are just lying to get me in the door.

Thanks again.

So what I am sensing is that EX-L + HS for ~290/month + tx is probably a decent deal? Or is there more room to negotiate there?

Add in the $595 acquisition fee and I get $257/mo.+tax. Assuming all other costs are paid upfront.

shrey_mehta

carperso said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

kyfdx said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

Michaell said:

shrey_mehta said:

@Michaell - So here is the breakdown of the quote i posted above for Honda Civic EX-T.

MSRP: $23,035.00
Sale Price: $20,026.00
Money Factor: 0.00083
Residual Value: $14,512.05
Miles Per Year: 12,000
Term - 36 months

Payments:
$0.00 down payment - $234/month
$1,000 down payment - $205/month
$2,000 down payment - $176/month
$3,000 down payment - $146/month

What's your feedback on this ? Thanks in advance

Using your numbers, along with the 63% residual, I get a payment of $182/mo plus tax, assuming $0 down.

Be advised that $0 down is not the same as $0 due at signing. There is an acquisition fee, a dealer fee, the first payment and license or tag costs.

The number you want from the dealer is the adjusted cap cost.

We do not recommend putting money down (cap reduction, in lease terms) - that money would be lost if the car is stolen or totaled.

This is what dealer has to say when i asked for adj cap cost - "The adjusted cap cost will be determined by the down payment amount.
The cap cost is $20,026.00. The adjusted cap cost will be this amount, minus however much you choose to put down. How much are you planning to put down ?"

And the answer is $0, for the reasons already stated.

Thanks @Michaell , I have dropped a message to you. Whenever you feel free, please let me know what will be your advice on that.

Please repost the message here; that way, everybody can benefit from it

Sure so the latest development is like this -
Dealer - The way I have the payments work up at zero down, you will not have to pay the drive off. It is just worked into the payments.
The zero down payment that I quoted you is literally zero due at signing. You will not have to pay anything until your first payment."

The payment does include all the fees like acquisition, doc , license and registration fees etc. It does also include tax. He used a tax rate of 8.75% .

Not sure how he is coming up with $234, using the same no's I get this no -


P.S - In this image I don't want to pay my acquisition fee upfront. What do you suggest ?
Should i pay it upfront ?
If i pay acquisition fees upfront and add $500 grad rebate it will bring down my monthly payments to $182 including taxes.
Please suggest, thanks again!

There is a sign and drive option available for Honda; the dealer makes the first payment and all other costs are added to the lease. In return, the money factor is lowered to .00073

So shouldn't I first negotiate with the selling price the dealer offered for $20,026 ?
And then later ask for sign and drive option, plus lowering the MF.

If you negotiate the price, then ask for a different program (sign and drive), then the price might change. It's not apples to apples. You won't be able to trick the dealer into giving you something. Be straight up in your negotiations

Thanks @kyfdx and @Michaell for your suggestions, this is my first car buying process. So i am still a freshman in the school of negotiation. I don't want to mess up the deal with my lack of buying experience.
Quick question - Do i have to ask explicitly for lowering the MF to 0.00073, when I ask the dealer for sign and drive program. Or is it part of the sign and drive deal ?

The lower money factor is part of the sign and drive program.

@Michaell Should I bring grad rebate while asking for sign and drive lease option Or later, so that dealer doesn't deny sign and drive option

They are not mutually exclusive.

Not sure what does that mean. Are you saying I can not have both( Grad rebate and Sign & Drive lease) options together ?

You can have both.

Hey @Michaell , this is what i found on offer details automobiles.honda.com/current-offers.aspx?ModelName=Civic+Sedan. -

Only one $500 Honda College Graduate Bonus offer per vehicle. Offer cannot be combined with Zero Due at Signing Lease program.

I haven't asked the dealer yet.

Whoops - my bad. I really thought they could be combined. No need to ask the dealer - they are governed by the terms and conditions set by Honda Finance.

No problem @Michaell , I learned one more thing regarding the Grad program if you are leasing. I have to put 5% down. Look at this screenshot and here is the link - http://automobiles.honda.com/current-offers.aspx



In this case, 5% of Selling price that is 5% of 20000 = $1000 dollars.
I can use $500 grad rebate + $595 acquisition fees towards down.

What do you suggest ? Do i have to really put 5%, i have good credit standing.

What docs are you required to submit for the grad rebate?

Your college diploma.

civicext

Hi,

I'm looking for the following lease numbers in NE Ohio on a 2016 Civic EX-T with Sensing (MSRP $24,035)

36 mo 12K and 15K
24 mo 12K and 15K

Thank you for any information.

Michaell

civicext said:

Hi,

I'm looking for the following lease numbers in NE Ohio on a 2016 Civic EX-T with Sensing (MSRP $24,035)

36 mo 12K and 15K
24 mo 12K and 15K

Thank you for any information.

.00083 and 66% (24/15) or 59% (36/15)

Add 1% for 24/12 or 2% for 36/12

cunit2k5

Hello, I just leased an EX-T yesterday and was curious to find out how I did.

MSRP $23,035, 63% residual
12k/yr - 36 mo
MF 0.00083
Tax is 9%
Added in NSD Complete Titanium by choice for the tires/windshield at $400

Rolled all fees, taxes, etc into the lease and dealer paid first month for the sign and drive. Ended up being $243.85/month.

While it may not be the best deal, I think I did pretty well. It definitely helps to know the numbers and negotiating procedure. I caught them trying to tack on the maintenance package for like $1250 at first and called them out on it. They immediately tried to lower it to ~$625, but I declined and requested the NSD for tires instead. Only thing I don't know is if the NSD was worth it.