2020 Civic Sport Touring Hatchback

Pythagorium

Hi everyone (sorry if this is a double post my phone is acting up),

I’m a first time car buyer/leaser and first time handling the process completely on my own. What incentives, data, residual, etc can I get for a 2020 sport touring hatchback in Souther California?

Any negotiating tips, I’m really nervous and want to get my “argument” as supported as possible when I begin lease discussions with the dealer? What would b a good lease deal with a car like this? On phone conversations they offered $1K down and around $430 monthly payment at like .000419% for 36 months? Is this terrible for someone with no real credit history in terms? Thanks for any help!

Michaell

Pythagorium said:

Thank you for the reply. I know i have chosen the most expensive trim and maybe its not the best financial decisions, but my car is so outdated and i am now old enough with a good enough career (CPA for reference) to treat myself to a car that i want as rent is low and general living expenses are not to great rn. I figure this is my last chance to get a sportier car to mod/make my own while im young enough before i need to be more economical and have more responsibilities (i.e family, children, house payment, etc) . I do not want a co-signer as i really want to do this on my own and establish my credit without implicating anyone else.

Basically my best bet if i am understanding you is to just try and get the most off of the sales price as possible? the .00041 is probably as low as i could go with my lack of credit history? I think im gaining an understanding of how to approach my negotiations with the dealer. The actual selling price is the biggest influence, but does the actual selling price include tax/fees? Or am i fighting for the lowest sales price before tax/fees are included?

Your lack of credit history may result in a MF higher than .00041, I'm afraid. This will affect the size of the monthly lease payment.

And, with leased vehicles, you aren't allowed to make any modifications to them, as you are, in effect, renting the car from the bank.

Lowest selling price equals the best lease payment.

Michaell

Pythagorium said:

Hi everyone (sorry if this is a double post my phone is acting up),

I’m a first time car buyer/leaser and first time handling the process completely on my own. What incentives, data, residual, etc can I get for a 2020 sport touring hatchback in Souther California?

Any negotiating tips, I’m really nervous and want to get my “argument” as supported as possible when I begin lease discussions with the dealer? What would b a good lease deal with a car like this? On phone conversations they offered $1K down and around $430 monthly payment at like .000419% for 36 months? Is this terrible for someone with no real credit history in terms? Thanks for any help!

36/15
.00041 and 56%
$500 incentive

Price tools are here:
https://www.edmunds.com/new-cars/

Lack of a credit history will not help you; do you have a co-signer with an established credit history?

You've also chosen the most expensive trim with the lowest residual value - those items will not help your payment, either.

Pythagorium

Thank you for the reply. I know i have chosen the most expensive trim and maybe its not the best financial decisions, but my car is so outdated and i am now old enough with a good enough career (CPA for reference) to treat myself to a car that i want as rent is low and general living expenses are not to great rn. I figure this is my last chance to get a sportier car to mod/make my own while im young enough before i need to be more economical and have more responsibilities (i.e family, children, house payment, etc) . I do not want a co-signer as i really want to do this on my own and establish my credit without implicating anyone else.

Basically my best bet if i am understanding you is to just try and get the most off of the sales price as possible? the .00041 is probably as low as i could go with my lack of credit history? I think im gaining an understanding of how to approach my negotiations with the dealer. The actual selling price is the biggest influence, but does the actual selling price include tax/fees? Or am i fighting for the lowest sales price before tax/fees are included?