2013 and earlier-Honda Civic Lease Questions

jmcbmw

Hey Car_Man, I am going to be leasing a 2009 Civic Sedan EX-L Navi Auto by the end of the month. Any changes to last months Honda Money Factor and residual? I plan to calculate using the Car Lease Calculator http://www.leaseguide.com/calc.htm once I have negotiated a selling price. I am looking for 36months with both 12K and 15K as I'm undecided. Also, any difference with the coupe or Hybrid? You never know. Thanks!

djhalptert

why is honda's money factor so high? its about 6.5% when everyone else is like 2% lower.

The only logical explanation is that Honda obviously doesn't want a lease program. It is WAY smarter to buy a Honda vehicle due to Honda's inability to offer any lease support on their vehicles.

Don't be a fool. Buy them.

jmcbmw

You know, many people lease for important reasons such as the large tax deductions for business use so calling them a fool is really quite unnecessary and unhelpful.

djhalptert

I didn't say anyone who leases is a fool, rather I said anyone who leases a Honda is a fool. Leasing is great and can be financially smart when you are getting a lease rate of 0%-4%. The fact that Honda doesn't offer a rate of less than 6% on nearly any model when most other manufacturers are at 2-4% shows you which way to go. If you have a business and lease a Honda, you are wasting your money unnecessarily. If you think it's smart to lease a $20,000 Civic for $300-$350 a month I have some ocean front property in Baghdad I would like to sell you.

CarMan@Edmunds

Hey jmcbmw. Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Civic Sedan EX-L with navigation and 15,000 miles per year are .00290 and 60%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The residual value for a lease with only 12,000 miles per year is 2% higher.

The money factor for an otherwise identical lease of an '09 Coupe and Hybrid are 58%.

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jmcbmw

Thanks Car_man, That's too bad that the MF actually went up this month. I may have to try and hold off to see what Nov rates are but not sure if I can. The residual is fine and if I can get a really good deal (which may be hard with the Civic being so popular) I may pull the trigger. I also may have to start researching the Jetta and others which I prefer but my fiance does not!

CarMan@Edmunds

You're welcome, jmcbmw. Yep, Honda Finance raised its standard lease money factor for October (starting the 9th I believe). I am not completely surprised by this. The credit crunch is forcing a lot of banks, and that essentially is what Honda Finance is, to raise their unsupported rates. Both the Jetta and the Civic are good cars. You can't go wrong with either of them.

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t_c

Car_man,

But don't you think its kind of backwards as to what is really going on in the finance market? I mean the rates are going down that banks pay, but yet their raising their rates higher.....?

So really whats happening is that the Honda Fiance is making a wider yeild spread on their money. And this might be due to the fact that their sales are dropping so fast that they might need to profit in other areas...

Well I don't know. I'm still trying to decide if I should lease a Civic or Accord... what does everyone think? I mean from what I'm seeing its like a $20 a month difference for the Accord.

tedspread

t_c-

Actually, the cost of financing has gone up for AHFC and other lenders. The credit crisis that is going on has impacted even the biggest and most credit-worthy companies. The commercial paper market is especially hard hit. With sales down in September, the dealers are begging for more support from AHFC, but they are constrained by the tight market. I think things will improve in the next few months, and we should see standard MF's come down, and more agressive lease specials on more models. I would advise waiting things out, if possible, before leasing a Honda.

t_c

I hope so, I'm ready to buy... But knowing the present economy I know these companies can do better on their prices. I called one of the Honda dealers by me, and the guy tells me "the civics are selling like hot cakes, so we are not offering any discounts".

I mean look, I know Honda and I know they hold their values. But come on people, nothing is selling like hot cakes expect Ramon noodle soups.

So... I patienctly wait for Honda to start offering better financing, and the car dealers to wake up and realize that if they don't pick up their volume they won't receive their tied pricing from Honda.

grkmec

I am looking at a 2009 Civic LX sedan w/ auto. MSRP @ $18,825.

Can someone please tell me the money factor buy rate and residual assuming 3yr at 12k and 15k miles? Any reduction in MF with a security deposit?

Also, what is the honda's lease initiation fee?

Thanks!
Tony

CarMan@Edmunds

Great answer. Just the sort of finance knowledge that I would expect from someone that has the username "tedspread" :shades: .

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CarMan@Edmunds

Hi Tony. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Civic LX Sedan with 15,000 miles per year are .00290 and 63%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. the residual value for a lease with only 12,000 miles per year would be 2% higher. Honda Finance will waive its security deposit requirement in exchange for a .00010 increase in the money factor that is used to calculate your car's payment. I believe that Honda Finance's base acquisition fee is $595.

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levoyp

Hi:

I have been offered two lease agreements on a 2009 Honda SI, from two dealers in So. California. One is at $285 a month with a down payment of $2000.00, I am a tier 3, the second one is $265 + tax with a $2000.00 down payment. I would like to know what I need to look for in this agreement. I leased a Honda Accord for two years and the lease is up 12/16, the vehicle is for my son that is a college student. The vehicle was under 5000 miles per contract and in excellent condition. Any advice would be appreciated. Thanks

dieseldan9

Talked to my dealer today and the MF for a 09 civic LXS is .00178 for tier 1 and .00255 for tier 2

WAY better than VWs .00300.

We will see

dad23

Hi Car_man,

Can I get current money factor and residuals on the 09 sedan LX auto for both 36 and 39 months,12K miles? Thanks in advance!

noah12345

Heres the deal

I need a 24 month lease, 18000 per year, I want to pay absolutly no money down..nothing,,no taxes, fees, tags etc. I live in NJ. I want the civic lx..basic..I dont care if its stick shift. I went to the honda dealer, and he told me that around 350 per month under those terms..is this good. Can you help me

stoopy

Considering a base LX MSRP's for $17K and you can buy one for $15K, I would say heck no that is a horrible deal. You could BUY an LX for $350 per month (48 month loan). Why would you lease for the same price???

If I were you I would look at a LOADED 2009 Nissan Altima 2.5 S with SL Package, leather, power everything, bluetooth. They are leasing for $300, 36 months.

kwarengi

Hi Car_Man,
As usual I got my quotes from different dealers on internet and worked the deal for a few days. Finaly the deal looks like that:
39 mo, 12K mi, $900 drive off, $190.30+tax=$205.99 per month.
Money factor is 0.0025 which equals to 6%, which is high of course. My credit score is 826 from Experian as today, but Honda put you on the tier 700-850, I believe. MSRP is 18,895, negotiated price 16,289, residual value 62%.
Negotiated price and residual value is from competitor - Kolbe Honda, deal done with Woodland Hills Honda in LA. Though the deal itself is identical from both dealers - 39mo,12K mo, $900 drive off, $190 +tax.
In Lease agreement that I sighned today though capitalized cost reduction is 16,770.
The question is, if I would push a little harder and ask to put into the contract lower price - $16,289 would it come to lower monthly payment? Though $190.3+tax was the lowest dealer could go and few other dealers could not afford to offer me that deal. There is a feeling that I'm missing something!
Thanks in advance.

CarMan@Edmunds

Hi dad23. Here's the info that you seek. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Civic Sedan LX with 12,000 miles per year are .00250 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 39 month lease are .00250 and 60%.

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CarMan@Edmunds

Hi kwarengi. I would consider dealer invoice minus the available $500 dealer cash to be a very good deal on this car right now. The dealer invoice price for a 2009 Honda Civic LX Sedan with an automatic transmission is $17,488. $500 less than that is right around $17,000. Both of the prices that you were quoted are less than this, so I would consider them to be very good deals. The dealers are using Honda Finance's buy rate lease money factor to calculate your monthly payment as well. I doubt that you will be able to do much better than this.

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bad1550

Hi,

I am considering this lease for a 2009 Civic LX Sedan:
39 Months, zero down, 1st month payment, Bank Fee, DMV
$228 per month which includes taxes and they are paying my remaining lease off which has 3 month left. Also getting 15K per yr

Trying to convince my wife its a good deal?

Thx

Bob

XxHaimBonxX

Hi Car_man, I am looking to lease a Civic EX-L, Hybrid or Accord EX-L. Currently leasing a Civic EX with 5 months left on a lease. Dealers eager to buy out my lease if I get a new car.

1. Are there any special deals for returning lessees? (my previous dealer told me my down payment would be waived, obvious lie.)

2. What are the current numbers for above vehicles? (money factor, residuals)

Thanks,

CarMan@Edmunds

Hi XxHaimBonxX. Ha your down payment would be waived because you are a returning lessee/ Lessees never have to pay a capitalized cost reduction on leases if they don't want to. I don't believe that Honda Finance is running any sort of loyalty program on the Civic right now, other than the waiver of Honda Finance's security deposit requirement without marking up its money factor.

This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Civic EX-L sedan without navigation with 15,000 miles per year are .00250 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The numbers for an otherwise identical lease of an '09 Civic Hybrid are .00250 and 60%.

The numbers for an otherwise identical lease of an '09 Accord Sedan EX-L 4-cylinder without navigation are .00250 and 57%, respectively.

When negotiating your leases, make sure to take the $1,500 dealer cash that Honda is currently providing on the Civic Hybrid, $500 on the Civic non-Hybrid, or $750 on the Accord 4-cylinder into account.

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XxHaimBonxX

Thanks Car_Man. I always choose 12,000 lease since I live very close to work. The money factor is the same I think, at least this is what the dealer quoted. How does the residual variate?

olkaus

Hi Car_Man,

do you know what FICO score range would qualify for their "Super preferred" tier?

Thanks,
Olga

hmainkar

Hi,

So I talked to a dealer in MA and is offering the following prices for a 2009 Civic sedan LX-S and EX-L.

So if I lease a LX-S with 0 down, basically just sign up and drive...that comes out to 219/mo

and for the EX-L...if i sign in and drive 0 down....for 262/mo

These are based on 12k/36months
Are these good deals? I am going to the dealer later today...any quick comments would be appreciated.

Thanks!

fitnessfinatik

Is this a good lease deal in New Mexico for a 2009 Honda Civic LX sedan automatic?

$18,825.00 MSRP
$17,460.78 Dealer Invoice

$2.61 NM State Sales Tax (?)
$595 Title/Registration/Fees
$1,000.00 My Down Pmt
39 mo. Lease Term
$11,672 Lease Residual Value
0.0032 Money Factor
12,000 Mile/yr limit

Tier 2 Credit Approval through Honda

$255 Monthly Payments

XxHaimBonxX

I would have someone to cosign and get tier 1. I received a quote for EX-L 4 door, $0 down and $296 per month, without negotiating. I could probably lower it by another $10-15. Bottom point, I think you could do better. Sale price for EX-L is $19,600.

aliciao

Here is what they offered me:

Keep in mind I am turning my lease back in 3 months early and they are offering to buy it out. I want to do this because I am going to go over my miles 3-4k if i keep it till its up

they offered to buy it out for a civic lx sedan lease
39 months
sale price 16,500
800 down
190 a month with tax
15k a year
not sure what money factor and residual is yet

can i do better than this or is this a good deal?
keep in mind i also get 500 off for new college grad, no security deposit

XxHaimBonxX

Just make sure they are actually buying it out, not just paying the rest of your payments, or you could still face inspection and the mileage charge.

xlslsk

I got a quote for 39 month selling price of 18986, MF .0025, and 62% residual, and no money down for 12,000 miles. That is all I have for now, what would be my approximate monthly payment?

djhalptert

You also need to post MSRP and fees. With the limited info you provided, based on base EX auto MSRP of $20,775 your payment would be $236.22 for 39 months. This would not include acq fee, other fees, sales tax.

XxHaimBonxX

I was looking into Accord EX-L or Civic EX-L. The best deal I got was $345 per mos with $500 cash for Accord or $296 for Civic. Then I requested a quote from Acura and found a great lease for a base TSX, probably the best on Earth. $1100 down and $326 a month. Tax included.

If you live in NY Tri-State area and don't mind driving a few miles, e-mail me and I will get you in touch with my salesperson: xxhaimbondxx@aim.com.

aliciao

Bad 1150,

Where is this lease from? I just spent two days trying to get this done and the best i got was:

2009 civic lx
15k a year
pay last 3 months
1000 down
270 a month.

Of course didn't take it but wanted to know where you did this deal at since I am getting no where

bad1550

Aliciao,

It was at New Rochelle Honda in New Rochelle, NY.

I believe they are now offering an even better deal on the EX model.

Good Luck

usair

very bad, I can get one for 0 down $ 210 per month

CarMan@Edmunds

You're very welcome, XxHaimBonxX. Ahhh, a short commute is nice. I wish that I had one, I need all of the 15,000 miles that I have on my lease. You're right, this car's money factor is the same, regardless of its mileage allowance. Honda Finance's 12,000 mile per year residual values are 2% lower than its 15,000 mile resids.

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CarMan@Edmunds

Hi Olga. The last time that I checked, consumers needed a credit score of 710 or higher to qualify for Honda Finance's "Super Preferred" credit tier.

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CarMan@Edmunds

Hi hmainkar. The best way to tell if you are getting the best possible deal on a lease is to look at the selling price that was used to calculate its payment. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how large a dealer discount you are being given. Let us know what these cars' selling prices are and I'm sure that either myself or another knowledgeable community member will be happy to tell you what they think.

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dolsey01

Car_man,

Can you provide the March numbers for a 36M/12K lease for a Civic LX Auto.

Thanks!!

3kidsinback

Hello

What is "marketing support" and how can one use it to negotiate a lease deal? Edmunds says there is $2000 in marketing support available on a special lease for the hybrid (I posted a similiar question under the civic hybrid forum). Could a dealer use this to buy up my negative trade equity and still keep me in range for the lease special?

Regards

livintheoc

Hi All,

This forum has been so helpful that I would like to share the details of the lease we got this past Sunday.

Vehicle : 2009 Honda Civic LX (Auto) in Polished Metal Metallic
MSRP : $18925

Leasing Company : American Honda
Lease Term: 36 months/12,000 a year
Purchase Price (Cap Cost) : $16350
Acquistion Fee : $595
Total Price (Cap Cost) : $16945
Residual (62%) : $11733.50
Money Factor : .00225 (Tier 1 rate)

Monthly Payment : $226.56 ($209.29 monthly payment plus 8.25% tax - $17.27)

This was without any down payment, just the first month's payment and DMV fees (just over $500)

Hope this helps whoever is looking at the Honda Civic since the deal was not hard to get.

r20926

2009 Civic Hybrid Featured Special Lease - $259.00 per month for 36 months

Includes no down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers

Is this a good deal. I have a great credit rating, but I am new to the leasing game. Any help is appreciated.

Thanks...

z2adambomb

the dealer in Durham, NC is offering $239 a mo, 36mo, 12k mi a year, no down payment, just first month payment + TTL, which seems very good to me. you might be able to use that deal to leverage a better deal at your dealer (assuming you're not in Durham), especially since the deal is clearly advertised on their website (crown honda southpoint)

dpakman91

I'm in Massachusetts, and negotiated the following lease on an 09 Hybrid WITH Navigation, and with 15,000 miles per year for 36 months:

$110 down, $285 per month (including sales tax). Should I do this, or continue searching?

meinnocenthaha

Can Honda Financial services raise my car payment without my consent?

im in CALIFORNIA: I have had my 2008 honda civic for almost a year, paying $350 per month (i had crappy credit when i got it)....they've now raised my payment to $355 per month. My contract is for $350 m, 36 months..which is what i signed. I dont think its worth paying $355 per month for the car..i can go get something else for that price... I think what they are doing is a breach of contract.... I read my contract over, and it states nothing about being able to raise my payments...

Im pretty pissed off about this.. and i want to get rid of the car becuase of it

r20926

After some heavy negotiations between dealerships via email, my best offer right now is $227.89 a month, 36 months, 12,000 miles on a 2009 Civic Hybrid, no leather/no navi.

First payment, DMV, taxes upfront. Still waiting for reply on the bank fee, but I believe it is built into the monthly payment. Almost ready to pull the trigger. What does everyone think?

Thanks...

kyfdx

Your payment is taxed monthly by the State of California.

The tax goes up, as of April 1st. You are liable for the sales tax.

The increase goes to the state. It has nothing to do with Honda Finance.

Hope that helps,
kyfdx

CarMan@Edmunds

I sure can, dolsey01. Here's the information that you are looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Civic Sedan LX with 12,000 miles per year are .00250 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and pay a security deposit at lease signing.

When negotiating your lease on this car, make sure to take advantage of the dealer cash that is currently available on it. There is at least $1,000 on the '09 Civic right now.

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