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2013 and earlier-Honda Civic Lease Questions



  • 9900rpm9900rpm Posts: 4
    Hi Car Man. I'm looking into leasing a 2008 Honda Civic Si sedan with navigation. 3 year, 12k mile/year. I was quoted $1286 out of pocket, including1st month's payment, monthly payments at $320. I was told the money factor is .00207, with 63% residual. Is this right? They told me the MSRP is $23695 including destination, and selling price is $22402.

    Another dealership wanted a bit more. $1200 out of pocket, which includes the 1st month's payment, with monthly payments at $328 or so, and they told me the money factor is .00190, residual at 60%, but they are selling me the same car (MSRP $23695) for $23k even.

    I'm a little lost as far as pricing. Can you tell me the May 2008 money factor for the 4 door 2008 Civic Si w/navigation, and also the residual. Also, ay idea what would be considered a "good" deal on this car? I'm looking to lay out as little money as possible, and pay roughly $300/month.

    Thanks in advance. Looking to lease this Saturday (5/3).
  • i dont know why the email was sent to me but ill try to answer your question. If u havent already done so, get the invoice and the MSRP and then get a price from that. After that you can try to agree on a lease payment with them. I was quoted a lease for an EX navi for $230/month with 3k down and everything included and this was before telling them the invoice and msrp. i think thts a pretty good lease for a 21k car
  • 9900rpm9900rpm Posts: 4
    Hi, me again. Just got off the phone with my salesman, and he said they changed things for May just a little bit. Not sure if this is true or not. MSRP on the car is $23695, including destination. This is a 2008 Civic Si 4 door w/navigation. I was told that invoice price on the car, including destination, is $21864. Selling price is $21923.40. Residual on the car is 58% (last month he said it was 63%), for dollar amount of $13743. He said the money factor went up from last month. He did not have the figure in front of him, but I know last month was .00207. I will be registering the car in Philadelphia, PA, which has a 10% tax on leases. This is the price they are giving me. $1286 out of pocket, which includes acquisition fees, doc fees, MV fees and 1st month's payment. Monthly payments will be $315 even. This is all on paper. Do I swing for this deal or not?

    Thanks in advance.
  • hey, it sounds like a good deal. did u get any other quotes and did u get the TMV from edmunds? i take it that u don't want to put alot down bc if u put more down the taxes will be included (maybe its just an RI thing). i just looked up the TMV and its $22685 so @ 21923 your under paying by $762. Thats a pretty good deal. So your getting almost $1800 off from the msrp. I'd take it. also if you didnt know, go to for all of the accessories (pretty good discounts and its a honda dealer)


    hopefully ill have my EX navi by june :)
  • i was wondering. When the dealer says 'cash due @ signing' (for leasing) can u write them a check or does it have to be cash? and can u take the car home the same day when u lease?
  • kyfdxkyfdx Posts: 63,370
    Yeah... they'll take a check..


    Prices Paid, Lease Questions, SUVs

    Need help picking out a make/model, finding inventory, or advice on pricing? Talk to an Edmunds Car Shopping Advisor

  • sparklandsparkland Posts: 119
    Just wondering why you are insistent upon leasing when at the end of three years you have "lost" your initial deposit and have to refinance $12000 at around 7-8% for another 3 or 4 years?

    If you finance the entire amount of the car for 60 months at 2.9% or use your cap reduction amount you were using for the lease as a down payment, I would imagine your payment would be at or under $400 a month and you would own the car.

    Just a thought. I absolutely do not know your circumstances, but my wife and I were considering leasing and it just did not make sense economically since we will keep our car for over 6 years and can get low finance rates with Honda.

    Hope all works out for you with the dealer.

    Brad :shades:
  • dwynnedwynne Posts: 4,018
    They will even take credit cards, if the amount is not too high :D .

  • dwynnedwynne Posts: 4,018
    It depends on if your goal is to own the car and keep in long term or not. If you are just going to be trading it in 3 years or so for something new, then a lease may be a smart way to do it. If not and cheap financing is available, then buying it up front would be preferable. In cases where cheap leases are available and cheap financing is not, you can often lease then buy and come out fine.

    Edmunds is still showing Civic 2.9% financing, but the Honda web page is not. I tried several ZIP codes on the Honda promotions page and it never came up. Could be expired?

  • kerbkerb Posts: 122
    Hi Carman, I would like to know what the current residual and money factors are for the above referenced vehicle as it relates to a 36/12K, 36/15K. Additionally, will a security deposit buy down my rate, if so, to what extent? Finally, what is AHFC's acquisition fee. Many Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi batta. Honda Finance's current buy rate lease money factor for a 36 month lease of a 2008 Honda Civic Sedan is .00190 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, kerb. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Civic Sedan EX without leather or navigation with 15,000 miles per year are .00190 and 60%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but its residual value would be 2% higher. If you choose not to pay a security deposit, your car's money factor will be .00010 higher. Honda Finance charges a $595 acquisition fee on every vehicle that it leases.

    Prices Paid: Buying & Leasing Experiences Forum
  • kerbkerb Posts: 122
    HI CARMAN, thanks for your response. My apologies for not advising that I was requesting figures for an '08 Civic EX (w/o leather or Navi) Coupe. Could you kindly provide same for a 36/12 and 36/15? Also, are there any incentives/rebates to consumer and/or marketing support to the dealer? Thx. a million!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, kerb. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Civic Coupe EX without leather or navigation with 15,000 miles per year are .00165 and 58%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but its residual value would be 2% higher.

    I don't believe that Honda is currently providing any cash incentives on the '08 Civic.

    Prices Paid: Buying & Leasing Experiences Forum
  • oldboboldbob Posts: 41
    2008 Civic EX manual trans. Based on a sales price of $17606 in NY, what is your current estimate for a lease, rolling sales tax and acquisition fee into payments. I believe NY sales tax would be 8.25%
    Thanks for any input.
  • djbeatsgdjbeatsg Posts: 6
    Hi I have the following quote so far:

    ex-l w/nav coupe

    msrp: $23,095
    invoice: $21,500
    price:$20,800 - includes destination/handling.

    Great deal I hope, I'm going to work out the lease today but it is hard to get the residual value for 24 months on this model. It's the highest end civic ex, and one person here said their RV was 73% on 24 months. That matches the forum on, but some generic calculators still calculate at 63% resid which does not make sense because some people got 36 month leases with 63% residual value and I highly doubt a car's depreciation stops in the 3rd year?

    Any idea what it should be? And what is the MF on ex right now with 680 fico.

    What else should I look for? They say all I'll pay will be lic, doc and ca tire fees.
  • hondamattnjhondamattnj Posts: 53
    Civic EX-L Nav Coupe 24 month Residual
    12,000 miles - 69%
    15,000 miles - 68%

    A 680 FICO falls under the AHFC "Preferred" category.
    - .00238 MF
  • djbeatsgdjbeatsg Posts: 6
    Now the problem is figuring out if i can get rid of junk fees like the $595 added to the net cap cost (maybe acquisition?!) and security deposit ($400?!)

    I have 680 and a dealer started by telling me .0038 or something ridiculous (thats like over 9.5%) and he was busy with someone else closing a deal so we decided we'll wait and shop another dealer. Any ideas what is negotiable in those areas?
  • gforce11gforce11 Posts: 225
    acq fee isn't really a junk fee since the bank gets it. security deposit lowers your MF. Usually necessary if your credit score isn't high enough to get "super preferred" tier. If your credit is 680, then you are probably tier 2, which is why you need a security deposit. May be able to negotiate the doc fee tho.
    At .0038, I would write off that dealership completely. They are taking advantage of you. Civic EX Coupe is around .00165, I can't imagine the sedans being any more than that.
  • jdunnisherjdunnisher Posts: 56
    Civic Sedans are currently at .00190 for tier 1 through AHFC.
  • shinngshinng Posts: 45
    Correct me if I'm wrong, but if the published rates are generally for tier 1 credit, how does one factor in tier 2, tier 3, etc for the money factor? Is there a rule of "add + XX%" for each tier above tier 1? I do not have tier 1 or tier 2 credit and want to make sure that when I get quotes from dealers, I am not getting hosed on the money factor just because I do not have tier 1. It's easy to compare tier 1 money factor rates as it's posted everywhere on the boards, but it seems impossible to find out the money factors for tier 2,3, etc.

    Any help is appreciated.
  • dwynnedwynne Posts: 4,018
    Unfortunately, there is no "rule of thumb" to know what the rate is once you move past the top tier. Most Honda dealers do not mark up the lease rates, so the odds are good you will get the rate that Honda offers based on your score. You can also compare deals from more than one Honda dealer and see if they offer you the same rate, then you know it is likely the proper one.

  • hondamattnjhondamattnj Posts: 53
    Once one Honda dealer submits your application for approval/tier, all the other dealers will get the same call. AHFC won't approve you at Standard at ABC Honda and then allow XYZ Honda to lease you the same car at Preferred.
  • dwynnedwynne Posts: 4,018
    That may be true, but the question was "how do I know if they are giving me the buy rate for the tier I qualify for". Since I have never seen anything but top tier rates listed anywhere, the only way that I know of to make sure the dealer is not marking up the rate is to get quotes from more than one dealer. If the lessee gets various answers for the MF then we have to assume that at least one dealer is marking up the MF for extra profit.

  • dad23dad23 Posts: 430
    Could I please ge the current money factor and residuals for 36 months/12K miles on an LX and EX sedan in Colorado? Thanks in advance.
  • sparklandsparkland Posts: 119
    Certainly a great number of people looking at leasing. Is it just because of the lower monthly payment? Probably yes.

    Just remember put down as little as possible on a lease-that is money that is gone. Never to be seen again.

  • dgavryshdgavrysh Posts: 1
    Hi guys,

    I want to lease 2008 Civic Si Coupe M/T w/o Navigation.

    36 months/12000 miles/year and I can put $3000 down.

    What should my monthly payment be and what is the realistic price for it?

    Potamkin Honda gave me $270/month @ $3000 down for a vehicle WITH Navigation system with Dealer price around $23,700.

    Doesn't look fair to me... Any advice for NYC area in particular?

    KBB invoice $20,057.09
    KBB MSRP $21,745.00
    KBB value $21,310.00

    Thank you!
  • oldboboldbob Posts: 41
    Try an internet quote from Nardy in Smithtown LI for comparison. I used them for my deal on a 2008 Civic EX 5MT sign and drive 36 mo 12000mi at $251.66. They were the best of 4 quotes I obtained.
  • i guess i depends on where you live. i got quoted $209/month for an EX 5auto for 36 months. how much did u put down?
  • oldboboldbob Posts: 41
    $0.00 down. Cap cost $17606. EX sedan.
This discussion has been closed.