2013 and earlier-Honda Civic Lease Questions

johnten

Thanks for that. How do I know what the current money factor is? Most of the quotes I've received used the same one but a couple of others were different.

utexas06

For a 2011 Civic LX Lease assuming 12K miles per year for 36 months the money factor is .00057 and the residual is 60%.

isellhondas

With the newly redesigned Civic about to arrive any day now, it looks like Honda is being extra agressive on their residuals. A 60% residual is too high for a model at the end of it's life.

Too high for Honda that is. They may pay the price later. go for it!

utexas06

Signed for this deal this evening.

2011 Honda Civic LX-S in Polished Metal
36 Month Lease
12,000 Miles a year

MSRP $19,905
Negotiated Selling Price: $16,866
Lease Acquisition Fee: $595
Doc Fee: $210
Adjusted Cap Cost: $17,671
TTL: $675 paid cash upfront

Residual: 59%
Money Factor: .00047
$0 First Payment, $0 Security Deposit, $0 Down.
Monthly Payment: $178.45

johnten

Congrats. That looks like a great deal! I have a few more questions before I head out to the dealer tomorrow or Friday.

I printed out the certificate from Truecar. The price was great. How should I approach the negotiation? I'm afraid they might slap on a bunch of fees once they see the certificate.

Is the acquisition fee only in certain states? None of the quotes I received listed it. The only fees I was quoted were title and registration.

utexas06

Are you going to the dealer named on the Truecar certificate? If so there's no need to negotiate because that is the selling price you will get. If you're taking it to a competitive dealer like I did then ask them if they can beat or match the offer if they would like to earn your business.

The $595 acquisition fee is non-negotiable and is required for the lease program. That is added to your low purchase price since it is likely below cost. Other than that there is a dealer doc fee that can range from $100-$400. I cannot stress enough that when you're reviewing the payment terms and contract review it with a fine tooth comb. Make sure the MSRP on the contract matches the sticker MSRP. They tried backing out the $750 destination charge and that affected the residual and made my payment $12 higher than it should have. Also make sure the negotiated selling price is explicitly stated on the contract before the acquisition fee and variable document fees. The contract won't show residual % or money factor but if you know the MSRP just take 60% and that will give you the residual $ value which should be on the contract. Other than that you'll pay taxes and registration.

johnten

I'll be going to the dealer on the certificate. Not only is the price great, but they're one of the few dealers around who have an LX in the color I want. These really are going pretty fast.

I forgot about the dealer doc fees. I'm guessing that ones non-negotiable. So I'll have to bite the bullet on that one. Thanks for all the information. It's been a real help.

I just looked at the certificate again. It says the maximum documentation fee in CA in $55!

isellhondas

You did a no brainer. They made no money on the car and your Money Factor amounts to less than a 2% interest rate.

Seems like why bother even making a sale like that just to make little or no money.

You did great!

CarMan@Edmunds

Hi utexas06. Honda Finance's current base lease rate and residual value for a 36 month lease of a 2011 Civic Sedan LX with 12,000 miles per year .00057 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

According to my calculations, if you were to lease a 2011 Honda Civic LX that has an MSRP of $19,305 and a selling price of $16,433 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $151.

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isellhondas

Did you roll in the Acquisition Fee?

Did you include sales tax?

johnten

He got the LX-S

utexas06

I was originally planning on getting the LX when I asked car_man but I opted for the LX-S instead. I don't believe the acquisition fee was added into Car_man's calculation.

johnten, any luck on a Civic lease?

johnten

Not yet. I had my heart set on a black LX but now it's gone. The color of my car is going to be a big deal to me. I'm looking online at inventory and seeing what I could live with. I might even downgrade to a VP. I'll figure it out this weekend.

marias

Just leased a Civic LX automatic transmission:
Cash Price for Vehicle: $16,021.51
Pre-Delivery Serivce Charge: $799.00
electronic Registration Filing Fee: 139.95
Acquisition Fee: $595.00
Third Party Private Tag Agency fee: $40.00
Total Capitalized Cost: $17,555.46

MF: .00059
Residual 60%
36 months

Did I just make a mistake? And what the heck is Pre-delivery Service Fee which was pre-printed on the contract?

doctom2

Hello Car_Man,
Would you kindly tell me the residual and money factor on an Si sedan, 12k/yr for a three yr lease?
Thanks much
Maleha

stiener1

I don't know the MSRP or residual value for the Honda I am going to lease, should I be concerned? I just negotiated on the lease price since I will not be buying the car. I went to 3 places to get this deal and negotiated one to dealer to the next. I also found the color black which believe me was not easy. I live in Northern NJ

2011 Honda EX Automatic
36 months/12k Miles
35 Payments
$0 down
$0 Security Deposit
$515 for all charges including title and registration
$210 per month tax included

johnten

Hi Utexas06. I hope you're still around. I think I'll be getting the coupe instead of the sedan.

Can you or anyone else tell me what the current residual and money factor are for an LX coupe if they're different from the sedan? One dealer quoted me a 56% residual but with their "mileage adjustment" - whatever that is - it came out to 58%. I thought the residual would be the same.

csfkey

Just leased a Black 2011 Civic LX-S automatic transmission
Price for Vehicle: $17580.00
Acquisition Fee: $595.00
DMV & 1st month payment: 683.04
Added features: 325 (mud flaps and wheel locks)
Total Capitalized Cost: $19183
Payments: 295.35

MF: .00210
Residual 59%
36 months

I have only used my credit for about a year and was wondering if the money factor is about right. Also if the cap cost is usual for the LX-S. Thanks

raycerv

Please evaluate this lease offer:

Dealer Offer: $17,092
Residual: $11,583
Payments: $201 including tax
Due at Signing: $156 for tags / reg /etc
Standard 3year 12,000 mile per year Honda lease

My offer: $16,750 based on the truecar dealer cost greta price etc in our area

Thanks for your help on evaluating this deal

nyccarguy

Good morning carman. Do you have the April lease rates & money factors for a Civic EX-L w/ NAV for a 36 month lease with 12K per year? Thank-you.

I'd also like the same numbers for a Civic LX-S?

contango1

Recently leased this from Hamilton NJ Honda:
what do you think, how does this look?

Civic LX 4 door dark blue
MSRP19,305 including destination
12K per year
30 months

gross cap cost 16320.
residual 12934. (seems high?)

cap cost reduction 555.
1st mo payment 109.
registration 227.
aquisition fee 595.
upfront tax for lease 267.
tire fee 7.50
doc fee 249.

total at signing $2010
29 payments of $109./month

total cost of lease $18222.

jdjgreenhair

Hey All. Looking to lease a 2011 LX coupe this saturday. MSRP is $19,305 truecar price is showing me $15,305. With my calculations this will come out to an awesome deal, how do you approach with the truecar form? Are my calculations correct in that my payments are going to be around $150 with 0 down? Also what is the difference in the lx and the lx-s??

CarMan@Edmunds

Isellhondas, the phrase that I used, "pre-tax" implies that sales tax is not included. I did not roll the acquisition fee into the payment because many people, including myself, don't.

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CarMan@Edmunds

Here's the info that you're looking for Maleha. Honda Finance's April buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic Sedan Si with 12,000 miles per year are .00057 and 59%, respectively for consumers who qualify for its "Super Preferred" credit tier.

When negotiating your lease on this car, make sure to take the $1,000 dealer cash that is currently available on it into account.

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CarMan@Edmunds

Hey nyccarguy. Honda Finance's April buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic EX-L Sedan with Navigation and 12,000 miles per year are .00057 and 56%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical lease of a 2011 Civic Sedan LX-S are .00057 and 59%.

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raycerv

Hi Car_Guy - Please advise:

With a msrp of $19.300 and a sale price of $16,500, what will be the pre-tax monthly payments.

Any other advise to drive the best deal would be greatly appreciated. Thanks!

jdjgreenhair

contango- this seems like an awesome deal... $2000 down and only 109 per month???!

CarMan@Edmunds

Hi raycerv. According to my calculations, if you were to lease a 2011 Honda Civic Sedan LX that has an MSRP of $19,300 and a selling price of $16,500 through Honda Finance right now for 36 months with 15,000 miles per year, your zero cap cost reduction, pre-tax monthly payment would be around $164.

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jdjgreenhair

I am having a difficult time getting the dealership to quote me a lease deal even near theses. I have a truecar form for a civic coupe lx manual for 14,900 which is an awesome deal. I am looking for for a 36 month 12,000 mile lease. Can someone help me with what the payments would be?

msuspartans73

Car man, do you have the money factor and residual % for a 2011 Civic Coupe LX? Thanks!

contango1

This was off a newspaper ad special which they run pretty often. It's actually 555 down which is the cap cost reduction. My concern is the residual if I buy it at the end. This seems high. Anyone have feedback on this?

CarMan@Edmunds

Hi jdjgreenhair. I'd be happy to work up a lease payment on this car for you, but I need both this car's MSRP and selling price to do so. Let me know and I'll crunch some numbers.

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CarMan@Edmunds

Here's the information that you're looking for, msuspartans73. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic Coupe LX with 15,000 miles per year are .00057 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

When negotiating your deal on this car, make sure to take advantage of the $1,000 dealer cash that is currently available on it.

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rrich49132

I came across this link on lease trader:

http://www.leasetrader.com/lease-specials/2011-Honda-Civic-LX-14229.xhtml

$149 for a 3 yr lease. I wonder how much out of pocket is needed at closing?

carterg

Hi Car Man,

What would a current lease deal be for the 2011 Civic LX for 24 or 36 months with 15k miles annually?

Thanks!
Carter

sportflyer1

Hi car man
Honda released their 05-03 to 6-02 feature lease on the Civic an LX auto for $189 /36 months, no security dep. and $2599 due plus tax & lic. $19504 msrp and $13,000 residual Plan to take advantage of our tier one credit, so what is the Money factor on this deal. Is it a great deal, good deal or average deal? Are they firm on this payment, or can we bring the msrp a few hundred off the msrp to lower the payment a few bucks?

thanks
sport flyer1

kc527

Hi,

I currently lease a 2008 Civic EX. The lease is up on August 1. I really like my Civic but don't wish to purchase it, so I'm looking into leasing another EX (I'm assuming the 2011, as I've heard production of the 2012 is limited for now). The car itself has a few scraps and bumps in addition to the tiny scratches of wear and tear of living in a big urban environment, and I'm assuming that it will cost me some penalties when I turn the car in.

I have a few questions, as my 2008 civic was the first car I've leased, and I'm not sure what to expect when trading in a lease.

First, is it possible to trade in my current lease early to a dealer if I lease a newer model for them, and if so, can I negotiate to have my remaining payments and/or damages subsidized? What is reasonable to negotiate?

Second, given the earthquake, etc, would it be wiser to try to transfer a lease now or wait until later in the summer? In other words, will prices/money factors be going up or down? And what are the current money factors anyway? Are there any current deals that I should be aware of or be taking into consideration?

Lastly, any thoughts on the value of a 2011 vs 2012?

I'm kind of new at this (I'm a young grad student and my last lease was negotiated by my parents), so any help would be greatly appreciated.

Thanks!

sportflyer1

I am planning to lease a 4 door lx, because it is the feature lease ( manufacturer supported lease). Seems like Honda is now only giving lease support on the 2012's here in Socal. They are offering 2.9% financing on the 2011. I have done an early trade before, man they really ding you on that, best thing is finish up the lease, 95% of Civics are made in North America and there should be an adequate supply of cars. It is the Japanese assembled cars that are problematic, because it takes a lot of elecricity to run a assembly plant, but less to run a parts factory

CarMan@Edmunds

Hi Carter. This car's lease payment will depend upon what its selling price is. Let me know this car's MSRP and approximate selling price and I'll crunch some numbers for you.

Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2011 Civic Sedan LX with 15,000 miles per year are .00260 and 66%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical 36 month lease are .00200 and 58%.

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CarMan@Edmunds

Hi sport flyer1. Honda Finance is not currently providing any lease support on the Civic. As a result, if you were to lease one through Honda Finance right now, you would have to use its standard lease program. Its current buy rate standard lease money factor for 36 month leases is .00200 for consumers who qualify for its top aka "Super Preferred" credit tier.

A money factor of .00200 is equivalent to an interest rate of around 4.8%, which isn't bad but isn't amazing either.

Normally I would say that a savvy consumer who is in an area that has a decent level of competition would be able to beat a manufacturers' advertised payment like this, but given how high gas prices are and the supply constraints as a result of the Japanese earthquake I actually think that amazing deals on the Civic are going to be hard to come by right now.

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sportflyer1

Hi Car_man

Thank You for replying to my post. Your second opinion is appreciated. I guessed that the money factor was approx. 0020 , making it an average deal, nothing worse. I just got back from the dealer a few hours ago and I have an appointment to do the deal next Saturday. We agreed that everything will be done according to the feature lease, nothing more nothing less. I will be paying MSRP then. They did not have my color pref. silver or very light blue today. It actually was relaxing negotiating with the feature lease, every trick they try to get you to pay more, you can counter with the fine print. but when all is done I will end up paying over $3200 OTD including first months lease payment

bobash

I've read that if you want to quickly figure out whether a lease deal is good or not, you have to figure out the monthly payment per $10K worth of vehicle.

If that amount is less than $150, it's a decent deal. If it's closer to $100, that is about as good a lease deal as you can get. So, your MSRP is: $19,504. Your payment (including down payment) comes out to $261.

Your monthly payment per $10K of vehicle = $133

This is an OK deal. When Honda was doing their $0 $0 $0 promotion, I think the deals were around $120 per month

Here's the article explaining this method in more detail:

How to Quickly Figure Out if a Lease Deal is Good

sportflyer1

After crunching the numbers I felt that Honda's standard lease is okay for a lease, but a lot more expensive than just buying, I think it was about $2,000 more if you buy the car after 3 years. So I decided to purchase, Honda dealers were only giving a few hundred dollars of MSRP, saying that it is a supply problem. Also owned VW's over the years and I am familiar with which versions are of acceptable reliability. Test drove a 2011 Volkswagen Golf 2.5, was impressed with its quality etc. They had few cars available around the area. the Golf is low volume compared to the Jetta, but they got us the car of our color choice shark blue metallic w/blue tooth and $100 over invoice, 2.9 % interest for 60 months and paid me exactly what I wanted for my trade. Thank you Forum for warning me that Honda does not discount.

sportflyer1

Thanks for the guide on leasing, the original reason I was interested in leasing was to get a price guide that would prevent the Honda dealers from trying to charge me higher than MSRP on a 2012 Civic. I felt that purchasing a car after the lease, I would have spent extra on acquisition fees, and also on the disposition fee, and the sales tax tack on to the interest. Buying is better, the 2012 Civics interior especially the seats are so plain they look like they came of a 2005 Ford Focus. I bought a VW Golf this weekend at invoice price and low 2.9% interest. The interior looks and feels like it came off an Audi.

alex177

Hi Car_man,

What are residual and money factor for 36months/12K lease for 2012 Civic LX manual ?

I just got an offer for $17000 including destination. The dealer is in MA.

Thanks a lot in advance,
Alex

alex177

Forgot to mention MSRP: $18,605 (17,855 + 750)

alex177

Answering my own question:

Residual for 36m/12k lease - %67
Money Factor for perfect credit: - 0.002

Regards,
Alex

alex177

And correcting myself:

%67 residual is for Automatic transmission. Manual is only %60.

sportflyer1

That is an excellent price, a small dealer nearby tried to sell me at msrp and a bigger dealer offered an LX for $19,000 both automatics and said I was lucky to get that price. I decided to buy a more expensive VW Golf that was $100 over invoice plus 2.9% for 60 months. Lesson learned is over confident Honda salesmen will not get a sale. By the way 2012 Civics are on the recall news today for fuel tank leaks caused by a manufacturing defect.

CarMan@Edmunds

Here's the information that you are looking for, Alex.

Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2012 Civic LX with 12,000 miles per year are .00200 and 67%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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