2013 and earlier-Honda Civic Lease Questions

CarMan@Edmunds

You're welcome mamamia2. Given Honda's lack of lease support on the '06 Civic, I would not be surprised if you were able to get a better payment on one by leasing it through an independent bank instead of Honda Finance. I'm not saying that no one is making any money on your deal, but dealers make very little on vehicles that are sold at invoice - especially once their expenses are taken into account.

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CarMan@Edmunds

No problem, txman1. I'm sorry that I didn't have better news for you, but I think that you are making a wise choice by waiting to get a new vehicle. I hope that your Jeep treats you better in the future.

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CarMan@Edmunds

Congratulations on your new car, mamamia2. Thanks for taking the time to let us all know how everything turned out. Enjoy!

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car_rm

Car_man,

May I get the money factor and residual (10k/yr)36 months for the Civic EX and EX with navigation. Also, what is the aquisition fee.

Thank you.

robrwa123

hello car man,

I'm looking to lease the 06 Civic Hybrid, no NAV, for 42 months, 12K mi/yr. I have excellent credit.

What would my payments be if I put no $$ down, paid $500 below MSRP, and was given their best tier (.00265?)? What would be the RV (I was told it would be a whopping 61%!)?

Thanks for your help.

CarMan@Edmunds

You sure can, car_rm. According to the latest information that I have seen, if you were to lease a 2006 Honda Civic EX Sedan without navigation through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 61%, respectively for consumers who pay a security deposit and qualify for its "Super Preferred" credit tier. The money factor for an EX Sedan with navigation would be the same, but the residual value would drop a point to 60%. I gave you the residual values for leases with 12,000 miles per year because I have never seen a Honda Finance lease of a Honda division product with 10,000 miles per year. I'm not sure if they offer such a low mileage limit. Honda Finance charges a $595 acquisition fee on leases.

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CarMan@Edmunds

Hello robrwa123. It would be a big help if you would provide me with the exact MSRP of the car that you are interested in. Let me know and I'll work up a payment for you.

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robrwa123

The MSRP is 22,400 which includes D & H.

Thanks!

mamamia2

We leased our Civic LX from a leasing company (mentioned here before). The contract has a "Turn-In Fee" of $400, which we're suppose to pay at the end of the lease -- if we do not elect to purchase the car.

I've been leasing Toyota Camrys from 1993 till 2001, and never had such a fee mentioned. The current leasing company claims it is now customary with any leasing of any car today.

$400 adds about $10 a month to our lease payment, which is still a good deal ($249)... But I'm just wondering about this "Turn-In Fee"....

gollumandbilbo

I have a 2003 Civic LX (40000 miles) with four months left of the lease. Current payoff is $10612 including tax. Edmunds has the value of this car set at the following, however I've seen this vehicle going for much more on autotrader:
Trade in: $11060
Private sale: $12413
Dealer: $13591

My question is, #1 am I better off buying it from Hondafinancial and selling, or #2 selling the right to hold my lease and having the buyer purchase the vehicle directly from Hondafinancial? It seems to me that option #2 entails paying sales only tax once, while option #1 entails me and the buyer each paying sales tax.

If I go with Option #2, how is this done? Thx

circuitworker

I would love to hear your strategy, My daughters car was recently totaled, and I'm thinking of a no money down lease.

circuitworker

My daughter's car was recently totaled. We are thinking of leasing a new Civic with no money down and using the settlement to make the payments over the lease period. 6,200 settlement. Her previous car required $700 or so dollars per year in repairs, the Civic should only need oil changes for the first 36,000. When the lease is finished she'll be out of college and hopefully in a better financial situation. The insurance will be less on the Civic. Can this be a good idea?

mamamia2

Circuitworker, If you bothered to read the thread, you'd notice that the guy is not exactly the most reliable....

I can tell you MY numbers:

--Civic LX
--Zero $ down
--39 months (initially I thought I'm getting 36 months)
--12k miles per year
--$249 a month.
--But a $395 Turn-In fee, If I don't buy the car at the end of the lease. I was told it's customery now.

Got it thru a leasing company called Car Lease in Lincolnwood, IL. Their headquarters is in Dallas TX.

cool_robg

Mamamia2 -

Never heard of such a thing. My sister leased an '06 Accord in January and there was no mention of this end-of-term fee. This is just a roundabout way of paying $259/mo. If you're happy with the deal at the end of the day, there's no reason to dwell on it. Congrats.

hoine

hi
im looking for the code of a cd player(the original that comes with the car) , since mine doesnt let me do anything til i put the required code. If someone can help me with this i'll appreciate it. thanks.

kyfdx

Hi, hoine..

Since this is a Civic leasing discussion, you might get better responses by posting your message here:

Honda Civic Owners: Problems & Solutions

regards,
kyfdx
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ttg911

Hello. I was hoping to get the current MF for repeat Honda customers, the residual for an 06 Civic LX 5 speed.

Also, are these cars hard to find with Honda doing such a great job selling them?

Thanks.

TG :shades:

CarMan@Edmunds

Hello ttg911. This car's lease program varies depending upon how long you want to lease it for and how many miles per year you need to be able to drive it. 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. If you were to lease a 2006 Honda Civic LX Sedan through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 58%, respectively assuming that you pay a security depsoit and qualify for its Super Preferred credit tier. I heard that Civic sales were hurt a little by supply constraints last month so you may indeed have a tough time finding the exact car that you want.

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tiger1414

Hi Car_man
I need some urgent assistance if at all possible as I am planning on making my purchase tomorrow. Would you mind taking a look at my arrangement thus far?
I have negotiated a lease offer for a 2006 Nissan Maxima SE with all except navigation basically. msrp=$34,895
I have not negotiated an end price but they offered a lease payment of $399 for 36 mos, 12,000 mi. Only money down would be licence and title transfer and first month payment, totalling $535. They stated the money factor is .00095 and the residual is 54%. I am at the end of my lease for basically the same car and looking at a new one to lease. Does this look suspicious to you? What am I missing? You help is much appreciated!

Thank you!

cgr45

Any lease deals on the 06 Si? If not can some one give me the money factor and residual info? Thanks

dlim899

cgr45, where are you located? Lease programs differ from states to states.

joshmel1

Interested in Lease residuals, and money factors in Raleigh NC for the 2006 Honda Civic SI. They have a red one on the way in with my name on it possibly.

Thanks, Josh

benji123

Car_man,

My sister is interested in leasing a 2006 Civic Sedan, either LX or EX, for 36 months with 12,000 miles per year. Could you please give me the LMF and residual values for each? It would be much appreciated!

Thanks,

Ben

CarMan@Edmunds

Hi cgr45. Honda is not currently providing lease support on any Civic models. As a result, if you were to lease one through Honda Finance right now, you would have to use its standard lease program. Its standard lease money factors vary depending upon how long you lease for. If you were to lease for say 36 months, Honda Finance's current buy rate standard lease money factor is .00265 for consumers who pay a security deposit and qualify for its "Super Preferred" credit tier. The 36 month, 15,000 mile per year residual value for an '06 Civic Si is currently 57%.

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CarMan@Edmunds

Hello Josh. Take a look at my previous post for the information that you are looking for. Let me know if you have any other questions.

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CarMan@Edmunds

Hey Ben. According to the latest information that I have seen, if you were to lease a 2006 Honda Civic Sedan LX through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 60%, respectively. The numbers for an otherwise identical lease of an '06 Civic Sedan EX should be .00265 and 61%. These money factors assume that you pay a security deposit and qualify for Honda Finance's "Super Preferred" credit tier.

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favarcat

Selling price of $17100. About $400 down which is first payment and reg. fees. Res value = 59% MF = .00275
Owe $10,419 at end plus tax. NY state with 7 3/4% tax. Gap insurance incl. Honda finance. Civic EX for $314/month.

Payment of $305/month. 36month/12K. Does this sound right and is it a good deal or not?

Can get an '06 Accord LX for $275/month. RV= 57% MF= .00086.
MSRP of $21,525. Selling price $19,775.

dhodge

I don't have the best credit and I'm looking to get a Civic Sedan LX. My truck is in my wife's name but I made all the lease payments ($333 for 4 yrs) and she will not co sign for me now. What payments should I expect and fees that will be charged? I would do a 60 or even 72mo if necessary. I will be able to put $1000 down since I have a turn in fee of $600 on my truck, plus a ding in the tailgate that I may or maynot have to pay to get fixed.

daryll44

I am wondering how an hybrid Civic would lease out compared to a similar regular gas Civic. Is the expected residual of the hybrid "enough greater" than the expected residual of the gas car that leasing costs would at least be close?

spdj20

Ok so I just got this email today from one of the dealerships, can someone tell me, if this really is as good a deal as i can get on a 36 mo lease on a 06 civic coupe, and what all this stuff means...

"Your best lease on an LX is shown below. And this assumes Tier Zero or Tier One credit:

Quote No.: 56479 17) Protection Plans (W):

1) Contract Date: 04/18/06 18) Service Cont (W):

2) First Payment Date: 05/18/06 19) Maintenance (W):

3) Lease Institution: HONDAL70 20) AN VCP (W):

4) Stock Number: 21) Total Add Caps (W): $ 640.00

5) County (W): Adjusted Cap Cost: $ 17,632.00

22) Cash Cap Reduction:

6) M.S.R.P.: $ 17,660.00 23) Total Sales Tax: $ 995.04

7) Residual Adds (W):

8) Residual Value %: 59.00% Base Monthly Rental: $ 335.00

9) Mileage Penalty: 24) Security Deposit: $ 375.00

10) Residual Value: $ 10,419.40 25) Smog/Weight Fees(W:

11) Capitalized Cost: $ 16,992.00 26) Ttl Annual Fees (W: $ 174.00

12) Term: 36 27) Ttl Initial Fees(W: $ 36.75

13) Lease Money Factor: 0.00480 28) Amount Due At Start: $ 948.39

14) Customer Cash Down: 29) Ttl Working Cash(W:

15) Rebates: 30) One Pay Amount:

16) Total Trade (W): 31) Total Monthly Payment: $ 362.64"

ral2167

$362 a month for 36 months on a civic? gosh that seems high. did you negotiate the cost of the car? or just accept msrp as the "selling" price?

ben833

13) Lease Money Factor: 0.00480

This is a terrible money factor. It's equivalent to a 11.52% interest rate.

multiplechoice

This is a terrible deal. The cap. cost is only $668 under MSRP and the money factor is much higher than the "buy rate" for the Civic. You might look at an Accord instead. The money factor is much lower (especially for the 6 cyl.) and you might be able to get a price of $600 below invoice like my father- in-law did.

ben833

Hey Car_Man,

Can I please have the money factor and residual for a Honda Civic EX 15,000 miles / 36 month lease? This is for the Sedan.

Thanks,
Ben

spdj20

thanks for the initial responses, ok so what would be a good money factor or "buy rate" and residual on the LX and EX. And also what would be a decent cap cost? Thanks for the help everyone, I just don't want to get screwed when i go to the dealer

multiplechoice

TFrom what I have seen, the money factor for the Civic EX is .00265 and the residual is 59%. Check with Car_man to confirm it. This is for 36mo/15K. I think a price of $500 over invoice is possible. It depends on your area. Call several dealers and get a price quote to get an idea of pricing. Good luck!

CarMan@Edmunds

Welcome spdj20. I had to delete your post because it contained your e-mail address. Edmunds.com does not permit the posting of e-mail addresses in the forums. If you want someone to e-mail you directly, make your e-mail address public in your profile.

In answer to your question, since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

To make sore that you are getting a good deal on your lease, you need to find out the selling price that you are being charged and the money factor that is being used to calculate your lease payment. As you have picked up from reading other posts, the selling prices of leased vehicles are negotiable, just as if you were paying cash or financing. Make sure that you are being charged a fair price for the car that you want to lease and that the dealer you are working with uses a Honda Finance's current 36 month buy rate lease money factor of .00265 to calculate your car's monthly payment. This factor assumes that you pay a security deposit and that you qualify for Honda Finance's "Super Preferred" credit tier.

Unfortunately, you may find that the Honda Civic costs more than you want to spend right now. The redesigned Civic has been very well received by the public. As a result, Honda is not currently providing any sort of lease support on it, like it has been forced to do with previous generations. Its current lease program for this car is not very good.

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CarMan@Edmunds

Hi daryll44. Unfortunately, Honda Finance's residual value for the Hybrid Civic isn't any higher than its residual value for gas models.

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CarMan@Edmunds

Hey spdj20. As the others who responded to you mentioned a money factor of .00480 is nuts :surprise: . While Honda Finance's money factor for the redesigned Civic is not very good, it's a ton better than the factor that you were quoted. If you were to lease a 2006 Civic through Honda Finance right now for 36 months, its buy rate money factor should be .00265.

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CarMan@Edmunds

Hello Ben. If you were to lease a 2006 Honda Civic EX Sedan through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 59%, respectively.

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dennilu

Is it possible to obtain a lease on a vehicle for less than 250/mo with no money down or is this a pipe dream ? If yes any vehicles anyone can suggest. Thx from Tightass.

rpb8

Do any readers know whether the money factors through Honda Finance have changed for May 06? I am trying to find out what the money factors and residual percentage should be for a 2006 Honda Civic Coupe EX, AT without navigation, for 24 and 36 months, 12,000 miles? I think they had been .00265 and 59%. Did they go up or stay the same (or go down)? Also, for other automakers, I believe monthly payments are usually less for 24 months, as compared to 36 month leases This doesn't appear to be the case with Honda--is this correct? Two more questions: Does price of 19,220 including destination with residual .59 and money factor of .00275 seem fair or should price and money factor be less (36 mo/12000 mi, assume highest credit rating)? And are there reputable private leasing companies that do considerably better than Honda Finance--names please. Thanks to all who respond.

qbrozen

Also, for other automakers, I believe monthly payments are usually less for 24 months, as compared to 36 month leases

Nope. 24 months is typically higher, unless the manufacturer is offering some great 24-month incentives and not 36. Reason being the biggest depreciation years for all cars is the first 24 months. So, for instance, you might have 65% residual at 2 years vs. 58% for 3 years. In the 2-year lease, you are financing an average of 17.5% per year in depreciation, while in the 3-year lease, you are financing an average of 14% per year depreciation. Obviously, the 3-year lease will be lower if all else is equal (meaning equal MF).

vlilich

have a 2003 honda civic LX auto lease (11k on it).
2 payments left at 207 each.

New deal:

turn in old car - not responsible for payments

lease 2006 civic LX auto
323 at signing
61% residual
.0027 money factor (qualified for highest credit tier)
12k per year

278.65 a month (tax included - 6% in CT)

What do you guys think?

Thanks for any input

vlilich

36 months

rpb8

What is the cost of the new car that you've negotiated? how does it compare to other sale prices posted in the forums? Have you used the lease calculator on the edmunds site? It may help you sort out whether this is a good deal or if their calculated monthly payments are right. I don't know enough about this to give you any answers. I'm also trying to figure out a lease (see posting #147). I've been trying to determine what the new money factor is for the highest credit tier. Are you sure it's 0027?

vlilich

i have used a lease calculator (http://www.leaseguide.com/calc.htm) and the numbers work out to the cent... final vehicle price is 17695 which includes a bank/acquision fee. I did some comparison shopping and have not seen a better deal yet, but was wondering what others are getting. money factor of .0027 seems to be the best you can get right now (highest tier credit)

rjw1

I am looking for a 36-39mo lease on a EX or LX auto with 15,000/year. The best quotes I have been given so far from a So Cal Honda dealer:

2006 Honda Civic EX Automatic Transmission
MSRP including destination: 19,810
Cap Cost 19,210
595.70 out of pocket
323.55/mo plus tax
15,000 miles per year

2006 Honda Civic LX Automatic Transmission
MSRP including destination: 17,860
Cap Cost 17,260
548.21 out of pocket
291.69/mo plus tax
15,000 miles per year

They did not tell me what money factor this was with, even though I asked.

Questions are
1. Any thoughts on how good/poor these quotes are?
2. Sounds like demand is solid for these, so are people right now able to negotiate the starting cost much below the $600 below MSRP they are quoting me?

vlilich

numbers for both sound very reasonable and comparable to what I received (post #149)... what was the residual %/money factor? mine was 61%/.0027 on LX for 36 months.

swolfson

Car Man,
I know what the innvoice and MSRP are for '06 civics. I am trying to figure out what the residual value will be on an '06 civic EX for a 48 month lease. I also wanna find out what the money factor is. I want to go in prepared to the dealer. this is my first time leasing. Can you help me???