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Thank you
What is a good lease for a 2008 Honda civic ex-L that is offered for sale at 19890 plus tax and fees it does include destination fee. This is NY and lookinfor 36 mo.
please feel free to send me email if you need help on referral. I know some dealers who are willing to honor that. I might need to give them a call to double confirm.
residual and money factor is 63% and 0.00207 for 36mo, 12k/yr
For the Si, lease payment would be pretty high because most dealers have limited inventory and most of them are asking for full MSRP, some even put on a lot of dealer installed accessories.
assume that you can find a base Si Sedan w/o Navi, your pre-tax payment should be around $318 w/ 1st payment, license, and dealers fee due at signing
(this is assuming that you have 720+ credit score)
I personally don't recommend leasing the Si because of the lack of room to negotiate pricing. Consider buying one if payment is ok because the si will hold it's value pretty well, P.S. Honda's 4.9% 60mo financing program is also valid till tomorrow.
If you could find a Acura TSX w/ 6-speed manual in your area, you will find out that the payment for TSX's lease is only $20~30 more (they do have a national lease program for $1499 due at signing and $299 a month for 10k/36mo)
i think it's 0.00068 and 59% for 36mo/12k and some dealers are selling them for $200~700 above invoice for the automatic (manual is harder to find and they might demand higher selling price tho)
TSX might be a better deal in terms of payment (leather, xenon light, same gas milage, similar engine etc...) but it's an old car in their last model year that you need to keep in mind.
Car_man
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Shop around for the lowest possible selling price that you can get on the Civic that you want and then have the dealer that you decide to go with calculate your monthly payment using this car's buy rate lease money factor.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
. What you can do is to go to honda's website and put a Zip code in California in the regional offer box and submit. You'll see that coming up. However, you can double confirm w/ dealers and they can logon to their honda website to double verify, there are times where manufacturer will put updated program up on their site.
I am sure that it's available is because i got a EX w/ the 63% residual and 0.00207 MF 3 weeks ago and i am in SoCal Zip code 91776.
2008 HONDA CIVIC LX SEDAN *
AUTOMATIC
Lease for $74 per month for 36 Months*
*All leases include destination fees. Tax, title, registration and documentation fees additional. Honda Civic lease, 36 x $74, 56% residual, $3,398 cash or trade.
Link to Ad: http://www.boston.com/cars/specials/silko_honda/
Then, there is this: Tax, title, registration and documentation fees additional.
Figure in a $595 acquisition fee, and $399 document fee (just guessing on that one) and the $3398 down payment.. If you amortize those over the life of the lease, plus a higher finance charge, due to the additions, you'll add about $130/mo. to that payment..
So, now we are at $209/mo.. which is a good lease payment on a Civic, but not out of the ordinary, I don't think....
regards,
kyfdx
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From what i see, the # will come up right if the dealer is selling the LX manual transmission for $800 below invoice.
MSRP $17395
Selling price $15267
MF 0.0001 (pretty impossible MF, only see this once back in Nov for the 07 Toyota Camry)
residual 56% (pretty low for a Civic coz Honda's residual is 63% for 12k/36mo)
Cap Cost reduction $3398
I am using $600 for bank fee (most bank charge this amt., and i am also guessing)
Payment will be $78+tax
Couple things to keep in mind
1. promotion ends 12/31/07
2. 1 at this price
3. should be on approved credit, that they might demand super high credit score etc...
4. didn't mention about documentation fee, which might get up to $1000 if the state allow
Here is what I was offered.
MSRP is $18,395 LX Automatic.
$235.72 + Tax for 36 Months.
$391.71 out of pocket which includes 1st Payment.
What do you think of this deal? Do you think there is anymore room?
Thanks,
Dave.
from what i see, they are pretty much matching the promotional offering from the honda website. If you are in an area w/ high competition, you might be able to do better. You can try ask and see if they are willing to sell the LX to you for 1~2% over invoice and see how it turns out. Also ask what your MF is because the buy rate should be 0.00207 for super preferred customers.
However, i would say that it's already a pretty good deal already.
if you are looking for alternative, you can try the 08 Toyota Camry LE auto w/o any other options, payment should be the same because i am sure that Toyota is still offering a special lease program on the Camry also.
thank you
Thanks for the great advice!! I just leased an Camry LE for $199.00 a month with NO MONEY DOWN!!! What a smoking deal!! They are only charging a .0001 MF...
Dave.
you are welcome. Congrad on your new camry. Can you share some # of your camry? like MSRP, selling price, residual?
Did you get the 07 model because the MF on the 08 should be 0.00136 or something like that.
thank you
I'm trying to determine what would be a better deal; Should I buy out my current 2005 Civic EX coupe from the 36 month lease for $10,400 (and then possibly sell it to a private party - I calculated the TMV for my car and it is $11,248) or begin a new lease on a civic EX?
My dealer( in milwaukee WI) has offered me this:
He will take my old civic "without penalty" even though I have gone over my milage and the car needs some cosmetic repairs (cracked front bumper, scratched back bumper) and will get me into the new one for 261 a month(12,000 mi/ x3 years). This includes tax, and no money down.
Which do you think is the better option in the long run? I wont have to worry about repairs on the new civic, but I'm wondering if I can do better than the dealer's offer? Any thoughts? I appreciate any advice you might have.
MSRP: $21934. Base LE Automatic with Floor Mats
Selling Price: $19277.00
Aqu Fee: $595.00
Doc Fee: $50.00
Residual: $12856.00
MF .0001 (That's right, 0.24%)
36 Months
$199.56+ Tax
Hope this helps...
Dave.
Sounds like a pretty good deal if you don't have to repair your lease damage. The best deal I found was:
08 Civic LX Automatic
$18,395 MSRP
$16,984 Selling Price
$11,589 Residual 63%
$595 Aqusition Fee
$50 Doc Fee
MF .00207 for 36 Months
$228.00 + Tax
No Money Down.
Have looked at a Camry? They have a smoking MF rate right now. .0001 which is about 0.24% which calculated to about $3.00 per month finance charge. I just lease one with an MSRP of $21,934 for only $199.00 per month, No money down!! MPG is a little lower than the Civic, but not by much. Hope this helps..
Dave.
Went to dealership this evening. They appraised my Accord and said I had $1300 equity. Buyout. $11,880.
I want a 36 mo, lease on a Civic LX. Nothing but first mo. payment at inception. I live in Texas.
Everything is standard as to the Jan. lease program. $ 16,984 Residual 63%. MF-0.00207.
At first they said $299 a month. I said NO WAY. Then he said, "If I can keep your payments at $249 a mo. can we do the deal tonight?" I said I believe I can get it done for between $210-225. He said no way.
We walked out knowing I have the appraised value of my trade and two mos. to make a deal.
Car Man. Actually, the $249 looks pretty good. How much better can I do?
Look at the post before yours... You should be able to be $189 +Tax if you have $1300.00 equity in your trade!!! Don't let them fool you!!!
Dave.
2008 Honda Civic LX Automatic
$18395 MSRP
$16984 Selling Price (Invoice) If they are willing.
$11589 Residual 63% 12K miles per year 36 months.
$595 Aquistion Fee
$50 Doc Fee (most dealers charge this much) Depends on dealer
.00207 MF for Tier 1 credit
$1300 equity in trade
With these numbers, your payment will be $189+tax with nothing more down!!
Have you considered a Camry? I was looking at a Civic, and I lease a Camry for way less money, even though the MSRP on the Camry was $21934!! The MF right now on the Camry is .0001 which is only .024% verses 4.96% on the Civic. I lease a Camry with no money down for $199.00 per month 36 months!! If you are interested, I can give you the numbers for the Camry..
Dave.
Toyotas are distributed, marketed, and financed on a regional basis (and I hate it). The region determines which options are available in which combination and what, if any, special financing exists. Toyota may MAKE a certain car with certain options, but YOUR region will not let the dealer order one equipped that way.
Anyway, if you go here:
at this link
you can put in your ZIP code and see what specials are available in your area.
I plugged in a SoCal ZIP and got:
Lease a new 2008 Camry (model # 2532) for $239 a month
See below for additional information
$239 a month for 36 months with a $789 drive off
I plugged in a NYC ZIP and got:
2008 Camry Lease Special
excludes hybrid model
$199.00 per month for 36 months
$1999.00 due at signing
Excludes tax, title, registration and acquisition fee. Security deposit waived by TFS.
Model 2514 Options CA AF
I plugged in MY ZIP and some others and there are NO lease specials at all.
So while it may be a good deal where YOU live it is not for the rest of us - and this is a Civic lease forum
Dennis
MSRP: $21934. Base LE Automatic with Floor Mats
Selling Price: $19277.00
Aqu Fee: $595.00(Set by Toyota; not negotiable)
Doc Fee: $50.00(can vary by dealer)
Residual: $12856.00
MF .0001 (That's right, 0.24%) varies by location.
36 Months
$199.56+ Tax
No matter how skilled YOU think you are you are not going to lease a Camry here for $200 a month plus tax with nothing due at signing.
I happen to think the Camry is fugly and not nearly as nice looking as the Civic (or Accord for that matter) and for sure the Civic returns much better MPGs. That said, I would probably look at a Camry for my wife IF we had a 0.0001 MF here - but we do not, nor is is possible for many folks in the country. Be glad you got the deal, but most of us can't and it is not lack of negotiating ability, it just is not offered here.
Again, this IS the Civic lease forum so unless you have something to add about leasing a Civic then move on the Camry lease forum. But be sure and tell folks there that most of them can't replicate your deal unless they want to move to your region.
Dennis
$226.25
Did I do OK?
I don't understand the "another payment" comment.
You should negotiate the price of the car separately, then apply that negotiated price to the lease MF and residual. If you go in and say "I want that lease deal I saw online" you could be leaving money on the table.
The special online has a net cap cost of $16,648.65 and a cap cost reduction of $1,205.00 so the selling price is $17,853.65 . MSRP is $18,395 and invoice is $16,984 so the price is $869.65 over invoice. My daughter got that deal on her 06 Civic EX two years ago so I would think you could deal closer to invoice. If is not a terrible deal as is, but I would think you could do a bit better.
Dennis
He thought I had made the 35 th payment already on the Accord.
I worked three dealers using the figures above. They all swore the Invoice price was higher than the 16,894. Anyhow, I had been at this for a week and a half. Went from $299 to $249, to 240 to 226. Texas taxes are high. No income taxes here.
We have high taxes here too, 7% per month state tax on top of the lease payment.
Did you ever look at the EX sedan? I have not seen the MF and residual on it lately, so I don't know if the numbers are comparable to the LX or if the LX (only) is being run at a special rate.
Enjoy your new Civic!
Dennis
Terrific vehicle. My fifth Honda. They keep getting better. I love the visibility. I love the two tiered instrument cluster. Now going after market to install XM.
I and my family use and love the SkyFi2 tuners. 30 minute pause and rewind, tune alert, easy to rear display (even in the convertible on a sunny day with the top down and shades on). My daughter has hers in her 06 EX mounted on a flex-neck Arkon mount attached to the PAX seat bolt and fed in through the Civics aux-in jack.
Dennis
The local Honda marketing is offering a Civic LX Sedan lease, but you only qualify if you are in this tier.
My though is that if you are in the "Super Preferred" tier, why would you be leasing a Civic? Wouldn't a BMW or MB be more appropriate?
They could also use an "auto enhanced" score which weighs car credit more heavily that other types of credit. So someone with a 740 and NO past loan or lease history might have an "auto enhanced" score too low for top tier rates. Similarly, someone with lots of good auto credit (paid off loans and leases for expensive cars with no lates) could boost their score into top tier. I think the F&I folks at the dealership can "talk them into" a higher score if you are borderline
Having good credit does not mean you can afford a BMW or MB, just that you always pay on time and don't run up huge charge card bills.
Dennis
I always hate it when they say "interest rates as low as 1.9%" or whatever. Turns out to get that rate your term is 24 months. Anyone that can afford the payments on a new car on a 24 month term does not REALLY need a car loan.
Dennis
I got the Audiovox Express R. I love the split screen where I can see what's playing on five other channels.
Had it installed at Best Buy. They did a nice job. Had it placed in the bottom slot in the center stack. Hard wired to Civic aux. in outlet. Much better than the FM connect. However, had to drill small hole. But, no biggee. Sounds great. If you get it through Honda it's ridiculous.
We have XM in the house and my Civic. My wife has Sirius in her vehicle.
Sure, you can make a lease on any car for $179 a month as long as you put enough down. How about a Maybach at $179 a month for 36 months with $375,000 plus title and tax due at signing.
The best feature of the Express and the SkyFi2 is that 30 minute buffer. They had "To the Last Whale" on the Loft this morning and I listened to it a couple of times, with a pause during one play to catch Paul Harvey . I love it.
The TuneSelect comes in handy as well, probably more so for me than the other channel preview since I just hit the button when I hear the beep and don't have to take my eyes off the road.
The OEM systems may be integrated but they are way overpriced and under featured by comparison.
Dennis
The lease agreement sheet reads:
Gross capitalized Cost: 18,574.61
The agreed upon value of the vehicle: $17582.07
Capitalized cost reduction: 2338.60
Adjusted capitalized Cost: 16236.01
Residual value: 11,220.95
Depreciation and
any amortized amounts: 5015.06
Rent charge: 2046.24 (what is that?)
Total of base payments: 7061.30
Lease payments: 36
Base monthly lease payment: 196.15
This car has 15,000 miles per year .
Purchase option at end: $11,220.95
Did I get a decent price or not, looking at the numbers of the capitalized cost is full MSRP! did they use the Agreed upon value to calculate?
They told me the residual is 61% ( too high???)
Good news is_ now that she is finally out of the hospital and back to work, she wants the car in her name and take over the payments..she has good credit and can the dealer arrange that for us without extra charges?
Thanks in advance for any help.
KR
The Suzuki dealer shows a new Suzuki for "$0 down and $99 per month", the fine print is "first 3 payments of $99 followed by 69 payments of $407" or whatever. they do this will all their new and used sales they have on their less than "infomercial".
One Chevy deal was showing new Cobalts for $119 per month and new HHRs for $129 and new Malibus for $149. Freeze frame the ad with the old Tivo and it shows "$8,500 down, 84 payments at $119 per month". Yep, all their deals were $8,500 down and 7 year terms. I wonder how many folks in the market for a Cobalt can afford a $8,500 down payment?
One local Kia has taken a page from the Suzuki dealership (maybe they are owned by the same folks?) and shows cheap payments for the first 3 then they balloon way up for a 6 year term.
I guess I can see why so many folks with say "the heck with it" and go overpay at the local CarMax. The meek and uninitiated will get a better deal, most likely, than if they are turned lose with these "sharks".
Dennis
MSRP is $18,395, which is less that the number you show.
The advertised deal is for 12k miles with a residual of $11,588.85 (63%) and 15k mile lease would have a residual of $11,220.95 (61%). Note that this is determined using the REAL MSRP of the car and not your inflated price.
When I plug in the net (adjusted) cap cost, term, and residual the payment solves as $196.14, which is what you show.
The "agreed value" is what you paid: $17,582.07 (invoice is $16,984). Then they rolled in the $595 bank fee and maybe a $200 security deposit to get $18,377.07 leaving a $197.54 different - maybe a dealer fee, tags, title, taxes, etc.
So I don't know what the fees are and if they are legit, but it looks like they gave you the proper lease terms and you paid $600 over invoice plus any dealer fees.
AHFC MAY can transfer the lease to her name, I think there is a $50 credit app fee and a $50 transfer fee but I think you would remain liable for the car. You could have here re-lease the car through someone like http://www.lowermylease.com/ . They would buy the car from AHFC for the current buyout and lease it to your girlfriend all in her name. Finally, you can have her buy the car off the lease for the buy out and finance the pay off. The last two ways are the best in that they let you off the hook for the car.
Dennis
My dealer says I should use them to handle the buyout because if I finance thru a bank "can be a major inconvenience because you must have the title in your possession to register the civic and it can take 4-6 weeks for the lease company to give up the title and your plates will become invalid and you will drive illegally. If you use us(dealer) the process is seamless and there is no delay. Your bank may not have told you about the complications" "Please call our finance manager to arrange a loan"
Is this practical? Has anyone had experience with delays; and is it an issue I should be concerned about? thanks
What *I* would do is get pre-approved for the loan to buy the car including taxes at your bank, credit union, or an online bank like CapitalOne. Then pick a dealer who will charge you little or no fees to handle the sale. Show up with your pre-approved loan in hand and tell the F&I person that if they can beat your rate for a simple interest loan you will go with them, otherwise use your loan.
Dennis