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Car Buying Advice: Civic Hatchback vs Sedan Lease

dasfine88dasfine88 Posts: 4
edited July 2017 in Honda
Anyone recommend any tips on leases for a new 2017 Sedan in CA, here's a current deal I just left the dealer with:

2017 Honda Civic EX w/ Honda Sensing, model below the Turbo:

-36/12K in CA (57% RV, 0.0006 MF)
-Market Value: 23,015
-Vehicle Selling Price: 22,577

-$1000 down, tax and acq fee rolled into monthly
-$353/mo (dealer was negotiating to come down to $295, which made me walk away knowing that maybe this is even too high)

I've been reading the forums for vehicles in different areas at way lower monthlys. My credit w/ cosigner puts me in Tier 1/ 0.9% apr (purchase).

1st Dealer I've visited in Southern CA. Any help, suggestions? Should I be emailing another dealer to get better pricing. I'm seeing a lot of forums saying this car should go for $220-$250.

Considering going w/ Sedan or Hatchback

Answers

  • kyfdxkyfdx Posts: 171,946
    dasfine88 said:

    Anyone recommend any tips on leases for a new 2017 Sedan in CA, here's a current deal I just left the dealer with:

    2017 Honda Civic EX w/ Honda Sensing, model below the Turbo:

    -36/12K in CA (57% RV, 0.0006 MF)
    -Market Value: 23,015
    -Vehicle Selling Price: 22,577

    -$1000 down, tax and acq fee rolled into monthly
    -$353/mo (dealer was negotiating to come down to $295, which made me walk away knowing that maybe this is even too high)

    I've been reading the forums for vehicles in different areas at way lower monthlys. My credit w/ cosigner puts me in Tier 1/ 0.9% apr (purchase).

    1st Dealer I've visited in Southern CA. Any help, suggestions? Should I be emailing another dealer to get better pricing. I'm seeing a lot of forums saying this car should go for $220-$250.

    Considering going w/ Sedan or Hatchback

    There is a $900 incentive on this vehicle. Your selling price is way too high. Get a quote with the "adjusted CAP cost" included and an explanation of how they calculated it. Probably, you should just move on to another dealer.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • dasfine88dasfine88 Posts: 4
    Thank you for that! I am quoting other dealers, I had a gut feeling I was being taken advantage of. Definitely looking for a lease deal that will keep me under $250.

    Does the negotiating happen mainly on the selling price? Or what should be my method of approach?
  • kyfdxkyfdx Posts: 171,946
    dasfine88 said:

    Thank you for that! I am quoting other dealers, I had a gut feeling I was being taken advantage of. Definitely looking for a lease deal that will keep me under $250.

    Does the negotiating happen mainly on the selling price? Or what should be my method of approach?

    Yes... Honda dealers can't mark up the special, subvented money factors, and they can't alter the residual.
    But, they can load on unneeded accessories and/or ask a high price for the vehicle.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • dasfine88dasfine88 Posts: 4
    This is great information. I appreciate it. Alright my negotiating shall start at the Selling Price.

    Are current incentives $900 on a lease right?
  • kyfdxkyfdx Posts: 171,946
    dasfine88 said:

    This is great information. I appreciate it. Alright my negotiating shall start at the Selling Price.

    Are current incentives $900 on a lease right?

    On the sedan, yes. No lease cash on the hatch

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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