2013 and earlier-Honda Civic Lease Questions

CarMan@Edmunds

Hi dennilu. $250 a month without any money down sounds a little low to me. If you tell me the exact Civic model that you are interested in and provide me with its MSRP / approximate selling price I would be happy to tell you exactly how much it should cost to lease right now.

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CarMan@Edmunds

Hi rpb8. Hondas still is not providing any sort of lease support on the 2006 Civic in May, but I believe that its standard lease program for this car changed slightly (for the worse). If you were to lease a 2006 Honda Civic Coupe EX without navigation through Honda Finance right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00385 and 67%, respectively. The numbers for an otherwise identical 36 month lease should be .00270 and 59%. Generally speaking, the longer your lease is, the lower your monthly payment will be. This is because vehicles experience their most rapid depreciation during the first 12 months of ownership. With longer lease terms, this large initial depreciation hit gets spread out over more payments than it does with short leases. The only reason why a shorter lease would have a lower monthly payment than a long one is if an automaker was providing additional lease support on the short term to steer consumers in that direction. For example, a few months ago BMW was providing extra lease support on 24 month leases to make them more attractive.

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CarMan@Edmunds

Hi swolfson. If you were to lease a 2006 Honda Civic EX Sedan through Honda Finance right now for 48 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 49%, respectively. Good luck in your negotiations and let me know if you have any other questions.

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asianboy

Hi all:
not sure if this is the right category for this type of question. But here it is, I am interested in buying a 2006 civic. I will be in NY for 4-5 wks and is moving to CA. I don't mind driving the car to CA, but what would be some of the advantages and disadvantages of buying in NY versus in CA. thanks for any inputs.

cvpacguy

Hi Car_man...
Can you provide lease info on a 2006 Civic Si w/manual transmission, for both 24 month and 36 months with 12k miles a year? I'm curious what the residual and money factor are; I can calculate a payment for myself once I've got that info. Thanks!

rtimm

I don't know how but back in 2003 my wife got a civic ex with a sticker of 19,000+ for $230 a month 48 month lease including tax not a penny paid out of pocket.

smandal123

I think I'm getting a very high price, what do you think...the car is $20,810 plus fees and they are give me the following as my payment:

Here is the lease on the 2006 Honda Civic EX sedan automatic for 36 months with 12,000 miles a year on approved credit:

Drive off: $666.24

Monthly payments tax included: $381.78.

Please let us know if you need more information

For $50 more I could lease another Volvo w/ 15K miles a year.

CarMan@Edmunds

You're right, asianboy, this isn't really the right discussion for this question...so I'll keep my answer brief. Both NY and CA have tons of new car dealers, so there will be enough competition in both for you to get a good deal on your Civic. Since your car's price should end up being about the same, regardless of where you buy it if I was in your situation I would wait until I arrived in CA to get it. Doing so will prevent you from having to put a ton of miles on your brand new car by driving it across the country.

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CarMan@Edmunds

Here you go, cvpacguy. If you were to lease a 2006 Honda Civic Si through Honda Finance right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00385 and 65%, respectively. As you can see, this car's 24 month lease program is terrible. It's 36 month program isn't great by normal standards either, but it is a heck of a lot better than the 24 month program. If you were to lease an '06 Civic Si for 36 months with 12,000 miles per year, its buy rate lease money factor and residual should be .00270 and 59%.

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CarMan@Edmunds

Greetings smandal123. The Honda Civic is not the best car to lease right now. Years ago, Honda provided lease support on it and had some very attractive lease payments on it. However, the redesigned Civic has been very well received by the public, especially with climbing gas prices. As a result, Honda has not had to provide lease support on it lately and it's not the best car to lease. What is this car's MSRP? If you let me know, I will be happy to give you my opinion on the price that you were quoted and use Honda Finance's actual lease program to tell you what its lease payment should be.

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sasuke

Has anyone leased a civic lately? How much a month are you paying?

zelaznog

Hi Car_man,
I'm interested in leasing an 06 Civic LX 4 door automatic with an MSRP of 18060. What are the residual value and money factor?
I've got excellent credit and am interested in a 48 month lease. What is a fair monthly payment? (Even though Civics may not be the best bet for leasing).
Thank you!

nlp123

Hi Car Man,

I have always leased cars that have had dealer incentives. It appears that leasing is not favorable at this time for the 2006 Civic EX Manual, but if I were to lease for 36 months, 12,000 miles a year, zero down ( I have an excellent credit rating) what can you tell me regarding its actual cost, buy rate lease money factor and residual? And should I be looking at lease companies other than Honda's? Also, Is there a place I can go that explains how to arrive at the actual monthy costs using the money factor?

Thanks,
Steve

CarMan@Edmunds

Hi zelaznog. Honda still is not providing any lease support on the 2006 Civic. As a result, if you want to lease one through Honda Finance you will have to use its standard lease program. Its current 48 month standard lease money factor is .00288 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The 2006 Civic LX Sedan's 48 month, 15,000 mile per year residual value is 49%. Its 12,000 mile per year residual value for this term would be 2% higher. This car's lease payment will depend upon the selling price that you are able to negotiate. I would be happy to work up a sample payment on it for you if you provide me with its approximate selling price. You should be able to get an idea of how much you will have to pay for this car right now by visiting the following discussion: "Honda Civic: Prices Paid & Buying Experience".

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CarMan@Edmunds

Hi Steve. The Civic has been very popular ever since the redesigned model was introduced. The fact that it gets good gas mileage and prices are so high right now certainly has helped its sales. As a result, Honda has not needed to provide any sort of support on it. If you lease a 2006 Civic through Honda Finance right now, you will have to use its standard lease program. Honda Finance's current buy rate lease money factor and residual value for a 36 month, 12,000 mile per year lease of a 2006 Civic EX Sedan without navigation are .00293 and 61% for consumers who qualify for its Super Preferred credit tier and pay a security deposit at lease signing. Given this car's lack of lease support, I would not be surprised if an independent bank had a more attractive lease program on it right now than Honda Finance does. I haven't seen any specific examples of this though. Most dealers have computer systems that enable them to search the lease programs that are being offered by independent banks so if there is a better program out there the dealer that you work with will probably try to steer you in that direction. The following article explains how to calculate lease payments on vehicles: Calculate Your Own Lease Payment. If you would like I can estimate what this car's payment should be for you. In order to do so I need you to provide me with its full MSRP and selling price.

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adguy

Hi!

Quick follow up question to your posting above - I was quote a lease price today on a 2006 civic LX of $264 a month, with $1800 due at signing (based on a purchase price of $17,500) - this is a 36 month lease, with 12k miles a year. The dealer sold me hard on american honda, saying they were much more forgiving about wear and tear, although another leasing company did have a slghtly lower monthly payment. I'm not sure exactly what the money factor is (can't recall at the moment, but could find out). does this sound like a decent price for this car? or would i be better of financing it? thanks!

spikepark

About to sign on a 2006 Hinda Civic EX- automatic (MSRP- $19,800) at a lease rate of $283 per month. Total out of pocket is $1300- which includes tax, 1st month payment and all DMV fees. Bank fee is built into the monthly price. The terms of the lease are 36 months 12K miler per year. The bank is through Honda (with the $1500 damage deductible at the end) not Hon bank- which I heard was no good.
I shopped around at 6 different Honda dealers and this was the best monthly price- this car is brand new. I was told as high as $335 by some places, but was able to get three dealerships to commit on $290, so I would suggest noone pay more than that with the above terms. What does everyone else think about this deal?
Thanks,
Mike

blane

spikepark,

Please clarify what you mean by "with the $1500 damage deductible at the end".

bethl

Hi-

The following is what I've been offered by my Honda dealer. I'm not sure if this is an ok deal.

2007 Civic EX Automatic with Navigation

Price: $20,165 (dealer swears this is as low as he can go but I wasn't sure so I walked out for the time being)
money factor: .00214
monthly payment: $314.52
term: 36 months

Does this sound reasonable? Or should I be looking at the Accord at this point?

thanks so much

CarMan@Edmunds

Hi adguy. Honda Finance is generally much more lenient than independent banks when evaluating returned vehicles for excess wear and tear. If there was only a minor difference in payment, I personally would much rather lease through Honda Finance than an independent bank. I have had several good experiences with them. I would be happy to give you a detailed analysis of the lease that you were quoted if you provide me with this car's full MSRP and selling price.

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CarMan@Edmunds

Hi bethl. The MSRP of a 2007 Honda Civic Sedan EX with an automatic transmission and navigation is $21,260. I dont know what the dealer invoice price of the 2007 Civic is, but an otherwise identical 2006 model has a spread of a little over $1,700 between its full MSRP and dealer invoice price. It is probably safe to assume that the margin on the 2007 model is fairly similar to this. You were quoted a discount of around $1,100 on this car. This seems like a very fair price to me. You can always stop by the following discussion to see how much other community members have paid for similar cars lately: "Honda Civic: Prices Paid & Buying Experience".

The money factor that you were quoted for this car is lower than Honda Finance's current buy rate for it. This means that your lease is being run through an independent bank instead of through Honda Finance. Given the lack of lease support on Civics, it is not surprising that an independent bank would have a more attractive program on it right now. Let's calculate how much it would cost to lease this car through Honda Finance for the same of comparison. According to my calculations, if you were to lease a 2007 Honda Civic EX Sedan with navigation with an MSRP of $21,260 and a selling price of $20,165 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $297. With only 12,000 miles per year, this car's payment would drop to around $287.

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rjsd5

Hey Car_man. I'm in the market for a new lease as my current 02civic lease expires at the end of this month.

In SoCal, how would I be able to get the new civic down to a price like that^^^?

Thank you in advance sir,
RJsd5

pebird

After 4 hours at the dealer, this is the deal I ended up with:

2006 Honda EX Sedan Auto:
MSRP - 17,510
Destination - 595
Total Vehicle Price - 18,105
Agreed Upon Value - 17,200
AHFC Acqusition Fee - 595
Dealer Doc Fee - 45 (couldn't get him to budge)
Gross Cap - 17,840
Cap Reduction - 326.87
Term - 36
Residual 11,107
Base Payment - 266.91 (before sales tax)

I calculated my money factor at .00303, which seems high as I am a prior AHFC customer with excellent credit. Dealer wouldn't budge on the money factor. I closed the deal on 8/25, and took delivery on 9/9.

Also, I had to execute lease on 8/25, although I didn't receive car (in shipment) till 9/9. I've never done that before - is that common and should I avoid that in the future?

epiech

Greetings Car_man. I am negotiating a car lease for a college student in the family and I was hoping that you could provide the money factor and residuals for 36 months and 12K miles on a manual 2007 Honda Civic LX/EX.

Your help is very much appreciated and I shudder at the thought of walking into a car dealership without these numbers.

Too, we are also considering a 2006 Mini Cooper or a 2007 Mazda MX-5 Miata so if those numbers become available then maybe they could be posted in those forums. In any event, thank you for considering this request for Civic numbers.

CarMan@Edmunds

Hey rjsd5. You are in a very competitive market, so you should be able to negotiate a good deal on a Civic. Shop around with a couple of dealers to see what the lowest selling price that you can is on a 2007 Civic. Once you have gotten a good price quote, have the dealer that you are working with calculate your car's monthly payment using its buy rate lease money factor. Honda Finance's buy rate for the 2007 Civic varies by term. For a 36 month lease is is currently .00280 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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CarMan@Edmunds

Hi pebird. The 2006 Honda Civic is a fairly low margin product, plus it is fairly popular right now so dealers aren't discounting them a ton. I believe that a typical 2006 Civic EX Sedan has a spread of a little over $1,600 between its full MSRP and dealer invoice price. You were given a discount of $900 on the car that you got. This is around $700 over dealer invoice, which isn't bad. This car's buy rate lease money factor was .00293 last month. It would increase to .00303 with the waiver of your car's security deposit. So the factor that was used to calculate your car's payment is in line with what Honda's buy rate was for this car at the time. Overall, I'd say that this is a pretty good deal. Enjoy your new ride .

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CarMan@Edmunds

I would be happy to help you out, epiech. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Civic LX Sedan with 12,000 miles per year are .00280 and 63%, 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 of a '07 Civic EX without navigation would be the same, but its residual value would be 64%.

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robsig

Hi,
Was curious if anyone had experience with the following situation.
I am well over my lease in an 04 Honda Civi EX (about 30k).

Does anyone know if Honda "forgives" the miles if you were to lease or buy a new car from them?

thx!

CarMan@Edmunds

Hi robsig. Unfortunately, Honda Finance probably will not forgive any excess mileage penalty that you will have to pay on your current leased Civic. The only way for you to avoid paying this charge is to purchase your vehicle ad the end of your lease.

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tphssenior

Would much appreciate your posting the lease factors and residual percentages for an 07 Civic EX Coupe Automatic w/NAV. Interested in 24, 30 and 36 month terms with 10K miles per year. Excellent credit. Thanks!

oafyc

Is it worth it to lease a Civic EX w/ NAV right now without any lease specials? I really wanted a SI Sedan, but I don't think I can afford it. I want to pay about $300 a month with 15k MPY, give or take $20 bucks or so. I like the factory nav because it doesn't seem like an in dash nav would be easy to put in aftermarket, especially on a lease. I also like the new Sentra and the Mazda 3. Would I be better off looking at those since the Civic is selling so well?

jbd2

im going into a honda dealer this sat to possibly lease a new civic. from my dealer visits , my trade is going to give me about $650 negative equity. im a 707 on credit and would like a sign and drive lease. could you help me out on what i should expect as far as monthly payments 36 months/12,000 miles. joe

2007 civic auto ex

jbd2

i think the msrp is $20130 joe

reneexyz

My lease on my 2004 Honda Civic Ex is ending in a couple of months. I would like to either trade it in for a Honda Fit or finance it and trade it in to a MINI dealer for a Mini Cooper.
I believe my car is worth around $12,000. If I wanted to buy the Honda Civic at the end of the lease, I owe about $9,000.00. That leaves $3,000 equity. My question is, would the Honda Dealer give me the extra $3,000 torwards the Honda Fit?
If I financed it then took it to another dealer I believe they would give me the $3K torwards another car.
Thanks.

jthor1

The best thing about you being over on your miles is that in most cases when you "trade" in your lease the value of the Honda's trade almost always gives you more than you owe thus making it a non factor that you are over on your miles b/c the equity you have in the trade...if that makes sense?All the big wigs I know all lease and dont worry about going over b/c the trade value is so high.

albertaa

I'm looking to lease an '07 Civic LX by the end of the year. Does anyone know what the current Honda Finance money factor & residual is on a 3 year, 12K lease?

nitin205

Hi:

With zero down payment, money factor of 0.00214, terms of 3 years and a cap price of $20165, assuming the residual value is 64%, and 7% sales tax,the monthly payment should be $291.48

If the residual value is less than what I've mentioned, then it sounds like a good deal.

nitin205

Hey car_man:

I've been researching a lot about this car, and seems that it all comes down to two things , "residual value" , and "money factor".

So, would you please let me know what are the current numbers for the above two things.

Thanks

Nick

albertaa

Nick,

I've been trying to find out myself. It doesn't seem like there are any current advertised lease specials on the Civic. Therefore, I would expect the money factor to equate to about a 6.5% interest rate or .002696. The Black Book 36 month residual is 57.9%.

Al

malambing

I have been trying to work a deal on a Civic Sedan LX in Los Angeles. The dealers are using money factor of .00290 and 12,000 mile residuals of 24 months at 73% and 36 months at 63%. Hope this helps. Still trying to get the cap cost down. I am currently at $17,028 but they want to then add in $595. Still searching.

albertaa

The $595 is the acquisition cost. Here in NY a dealer is running a deal on a Civic LX Sedan for $199, 30 months with $0 down. The price you're being quoted for the 36 month comes to $247.67 with no money down before tax, title and tags. That's assuming they're not charging you a security deposit. The money factor they're quoting translates to a 7% interest rate, so there's nothing special there. I intend on leasing a Pilot and Civic this week. I'll let you know what kind of deal I get. I'm using the $199/30 month/$0 down deal as a starting point with other dealers. If they want to sell me 2 cars they'll have to do better than that.

albertaa

Sorry, didn't factor the purchase price into the equation. Is the lease price they're quoting $253/month with no money down?

malambing

The exact quote is $252.96 plus sales tax at 8.25% which is $273.83 for 36 months at 12,000 miles. First year fees which include title and license are $231.46 and total drive off is $505.29. The first year fees from this dealer are marginally higher than the other quotes. Zero cap reduction and zero deposit. The dealers are all stating they want to make year end deals, but the offers I have received so far are nothing special. Wish they had that $199 offer, no money down as described above.

malambing

Contacted 15 local Honda dealers in LA area. Pretty much the same result from everyone that responded with the money factors and residuals stated in post #195. Some would be out of line with cap cost, but quickly felt the bottom was the quote stated in post #198. A few dealers would match this offer, but not go any lower.

I had an odd offer I had initially disregarded. I finally got this dealership to confirm their offer and it turned out to be the best of the bunch. I leased a Civic LX Sedan for 24 months/12,000 miles per year at $250.12 plus sales tax of 7.75% totaling $269.50. The complete drive-off was just the payment of $269.50. They gave me the option of either 36 or 24 months at the same price.

The dealership was using a better money factor of .00215 and a slightly lower residual. The better money factor allowed the profit on the car to absorb the title, license, acquisition fee, and doc fee.

I was really expecting a monkey wrench to blow up the deal after dealing with a jerk at a different dealership the night before. It went smoothly with the dealership not trying to back load the deal in any way. I was really pleasantly surprised.

I could easily see the extra profit to the dealership with the lower money factor, but the monthly rate was lower than everyone else and my drive off was only the 1st payment. I was happy and had no interest in beating the dealer up for a few more dollars per month.

I realize this is not the deal of the century, but I am very satisfied. Looking back it now appears the dealers only want to use American Honda rates for leasing. The key was finding a dealership willing to work outside the American Honda programs.

albertaa

I just leased an Civic LX sedan for $263/mo which includes tax, but not license and reg. fees which I paid out of pocket, i.e $178. I went with Honda financing because of the lease terms, i.e. no disposition fee, $1,500 damage wavier and they supposedly don't go over the car with a fine tooth comb. I was told the other leasing companies give a lower initial rate but then ding you at the end of the lease.

albert521

Car_man,

Could you provide me with the lease rates on a Civic Ex sedan with navi. I'm looking at a 24 or 36 month lease with 15,000 miles per year.

If possible, could I get the coupe rates as well?

emschu

What is the name of the dealer in NY offering the deal on the Civic LX Sedan for $199, 30 mos with $0 down? I would like to bring the info from the dealer in New York to my local dealer to see if they can match it.

Thanks.

CarMan@Edmunds

Hi albertaa. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Civic LX Sedan with 12,000 miles per year are .00275 and 63%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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CarMan@Edmunds

Hi Nick. Your vehicle's money factor and residual value are very important, but its selling price is just as or even more important. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around to get the lowest selling price that you can on the Civic that you want and then have the dealer that you are working with calculate its monthly payment using Honda Finance's buy rate lease money factor. This car's lease program varies depending upon how long you 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. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 1007 Honda Civic Coupe LX with 15,000 miles per year are .00275 and 60%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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CarMan@Edmunds

Greetings albert521. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Honda Civic EX Sedan without navigation with 15,000 miles per year are an extremely unattractive .00380 and 72%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 36 month lease are much more reasonable at .00275 and 61%.

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