2013 and earlier-Honda Civic Lease Questions

johnf101 · November 2010

Does anyone know of any good articles or info on the langauge of leasing - for instance "selling price" - how is this obtained, where does one find it?; what is MF {money factor}, what does it mean/indicate; what does the residual mean and how to use it one's advantage?; what is after tax payment, cap costs, etcetera?

Thanks, John

MSRP $21,155
Selling Price $18,000
Money Factor .00127
Residual 57%
Down payment $1500
After tax payment: $185 a month

kyfdx · November 2010

Edmunds has quite a few articles on leasing, and you can find them here.

A little education and research will greatly increase your chances of getting a good lease deal.

Good luck!

johnf101 · November 2010

Thanks, Walt for the encouragement!

CarMan@Edmunds · November 2010

Welcome John. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

Car_man
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nealintampa · December 2010

At www.shophonda.com Honda Financial Services is offering a lease for a 2011 Civic LX, with $0 due at signing (first month payment waived) for $200 a month. Am I correct that this seems like a decent deal? What I am curious about is, since the terms are set by HFS, does a dealer have wiggle room to lower the price of the car and therefore the monthly cost of the lease?

CarMan@Edmunds · December 2010

Hi nealintampa. Certain terms of this lease are set by Honda, including the money factor and residual value are set by Honda Finance, but your vehicle's selling price is ultimately determined by the dealer. This probably is a decent deal. However, savvy consumers who are in an area that has a decent level of competition are usually able to beat the selling prices that are used to calculate manufacturers' officially advertised payments.

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diye · December 2010

There is an AD by Hardin Honda in Anaheim, CA, for
2011 Civic DX VP, 30 month lease, 12k/year.
$1999 total due at signing, $30/month!

It's a legitimate AD, my friend got the Car today. I got an Accord instead because of family needs.

Please be aware that this kind of deal can never be negociated. The selling price on this car is almost 5k off the 17.3K MSRP.

dwynne · December 2010

I am betting this is not through American Honda Finance, right?

I am also thinking this could be another open end lease "deal"...

diye · December 2010

It's American Honda, and a typical lease. Nothing hidden. Brand new car (not a DEMO, etc.).

The purchase price is insanely low, the money factor is less than 1%.

bulgokee · December 2010

Car_man.

Based on the current Honda lease special, $200 per month for 35 months (0 down, 0 1st payment), what is the money factor and residual value % for 12K/yr and 15K/yr for the Northeast (Philadelphia, PA).

Is the money factor the same for the LX and LX-S?

Thanks,

markonline007 · December 2010

I too am looking for the current money factor and residuals on a 2011 Honda Civic LX Automatic transmission on a 36 month lease at 12K and 15K miles a year.

Could you also help me with the destination fee, I always get that messed up in my calculations. The MSRP I enter for the car should include the destination fee I believe but the negotiated price of the car is just that, the negotiated price, correct? I don't have to then add the $750 destination fee on top of that?

Thank you,
Mark

CarMan@Edmunds · December 2010

Greetings bulgokee. Honda Finance's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic LX Sedan with 15,000 miles per year are .00051 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The numbers for an otherwise identical lease of a 2011 Civic LX-S are .00051 and 59%, respectively.

The residual values for a lease with only 12,000 miles per year are 2% higher.

When negotiating your deal on this car, make sure to take advantage of the $500 dealer cash that is currently available on it.

Car_man
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CarMan@Edmunds · December 2010

Hi Mark. Please see my previous post for the information that you're looking for.

You are correct on the pricing issue. The MSRP that one uses to calculate lease payments includes the destination charge, but the negotiated price is whatever selling price you agree upon with the dealer. You do not have to add a destination charge to the negotiated price, unless your agreement with the dealer stipulates that you do so (and it probably won't).

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jalili · December 2010

$1000 down, $110+tax per month. Nor Cal

honda_love_em · December 2010

irus_x5 · December 2010

Hi Can you tell me which dealer in No Cal?

jalili · January 2011

anderson in Palo alto

zephear · January 2011

Hi, I am planning to get the lease done over the weekend so any help would be greatly appreciated. I saw a newspaper ad for 2011 Civic DX VP automatic, 24 month lease, 12k/year, $1999 down for $48 per month (Boston, MA). Is this a good deal? Is there any room for negotiation especially considering I would be doing a trade-in as well? Also what's the money factor and the residual % on this? Per the ad the latter is 65%. Does it sound right to you guys?

Much thanks in advance.

ch48 · January 2011

I was quoted $235 per month for a 36 month, 36,000 mile, $0 down lease on a 2011 Civic EX-L. Does this sound like a good deal or do you think I can do better?

hondaguy79 · January 2011

Something to keep in mind on all lease deals.... Read the fine print, those rates rarely include fees, taxes, and title. Usually those deals are very good but they usually run 10-20 dollars more per month than advertised. I hate it, but it's the way it works.

hondaguy79 · January 2011

Thats a very good deal.

thebrad · January 2011

Car Man:

Could you please provide the residual and money factor for a 36 month @ 15k/yr lease of a 2011 civic si? Not sure if we are in January or February numbers, so whatever you have I'd appreciate.

Thanks!

chipc1 · January 2011

Got this quote from a dealer in my area. Good deal? Should I go for it?

2011 Honda Civic EX 5spd manual
MSRP$20355
Buyout at end $12416.55
Money Factor .00066
Residual 61 %
$17,332 sale price

Zero due at signing. $197/mo for 12k a year, $209/mo for 15k a year. Tax included.

Thanks,

irus_x5 · January 2011

Got an offer of 160/month all inclusive of tax etc with $0 down from a NoCal dealer. Negotiated sale px of $15,800. Lease factor of 0.00076 and 61% residual for a 3year/12K mile lease.

Please advice if this is as good as it gets considering that the new model is around the corner.
Appreciate your help!!

thandamilk · January 2011

Getting the following deal at an NJ dealer. How does it compare to what fellow members are seeing out there? Works out to $129 a month, 0 down. 30 month lease (which is what I'm looking for, as compared to a 36 month lease).

* 2011 Honda Civic LX 4dr, Model#FA1F5BEW, automatic transmission, MSRP $19,305 $0 Lease down payment. Total payments/residual $3,870/$12,934. 30 month Lease. Lease includes 10k/yr. w/.20¢/mi. thereafter. $724 due at signing. Prices include all costs to the consumer, except for tax, license, title, fees, etch, and any dealer-installed options. Price includes $1500 Customer Loyalty off MSRP.

caedward2 · January 2011

Car_Man:

Does Honda offer a 30 month/10K mile lease in the Texas area? I was just at my dealer this afternoon and they only offered the 36month/36K lease. The dealer wanted $200/month with $1200 at signing to cover taxes, etc. (2011 Civic LX, Auto)

CarMan@Edmunds · January 2011

I'd be happy to thebrad. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic Si Sedan without navigation with 15,000 miles per year are .00076 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

This program is scheduled to run through the end of February.

Honda is currently providing a $1,000 cash incentive on the 2011 Civic. Make sure to take this cash into account during your negotiations.

Car_man
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CarMan@Edmunds · January 2011

Hi caedward2. You can definitely lease a Honda for 30 months and still take advantage of its special lease program. I'm not sure about the 10,000 mileage allowance though. If Honda Finance does offer 10k leases, its residual values for that mileage allowance would be 1% higher than its 12k residuals.

Car_man
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no_to_co · February 2011

Car_Man:

Im about to get a Civic and was wondering if the lease rates are different between the 3 different trims? Hondas website does not say that there is a special lease available for the LX-S trim. Only for the other two. Are the money factors and residuals the same? (looking at 36 months, 12K a year.)

CarMan@Edmunds · February 2011

Hi no_to_co. Honda's money factors are the same for all Civic trim levels. Honda Finance's February buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic is .00076 for consumers who qualify for its top aka "Super Preferred" credit tier.

The 36 month, 12,000 mile per year residual values for the vehicles that you mentioned are as follows: 54% for the DX Sedan, 58% for the VP Sedan, 61% for the LX Sedan, and 60% for the LX-S Sedan.

Car_man
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ladybug26 · February 2011

Car man-
Is this a good deal?
2011 Honda Civic LX sedan: $207.86/month with your first payment down plus your DMV fees. 12,000 miles per year and 36 month terms
What should the deal look like, if not? Also, do these "special leases" have room for negotiation?

THANK YOU! I've never leased and it's overwhelming trying to learn how it works the first time.

jg55 · February 2011

That's a great deal...I'm from NorCal which dealership was that offer at? Did you go through with the purchase....was it legit? What is your payoff after lease?

anastatica · February 2011

I have a 2008 Honda Civic EX-L, and my lease is up in two months. The tires are completely shot - so much so that I can't really even drive my car in the snow (bald!)
I'm trying to figure out what to do between now and the end of my lease. Will I be charged for the tire wear?

I am probably just going to turn the car in, rather than lease another honda, so not interested in trade in value...just getting rid of the thing without having to pay. I'm 5000 miles under my allowance and the car is in great shape otherwise. I am honestly thinking about getting a new car now and just paying the next two months payments until finish -- as that would be about the same as buying new tires. Super frustrated...Any thoughts or advice?

CarMan@Edmunds · February 2011

Greetings ladybug26. The easiest way for me to evaluate this deal is to look at this car's selling price in relation to its MSRP. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers, it is difficult to tell how large a dealer discount you are being given and in turn if there's any room left to negotiate. Let us know what these numbers are and either myself or another knowledgeable community member will gladly let you know what they think.

Car_man
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dwynne · February 2011

Are you leasing with Honda Finance? If so, the end of lease info is here: end of lease process

AHFC leased cars should have have a $500 per "item" forgiveness and $1,500 total built into the lease. If nothing else is wrong and you are under miles, then new tires would be covered and you would owe nothing.

Contact them and get a lease end inspection set up and done. You will them get a state of what (if anything) you will owe at turn in. You can correct the problems yourself or turn it in at lease end and pay the bill (if any) for the problems.

*I* would not drive around on bald tires nor let my family drive on them so I wold get something put on the car. You might could find some used tires (matching sets only) to slap on to bet you by. Check tirerack.com or distountiredirect.com for some new tires (looks like $70-80 each plus mount and balance). Try ebay for new and used tires in complete sets.

jdjgreenhair · February 2011

Hey. I am looking to get into a 3 year lease on either a civic sedan or coupe. I am in Tampa, fl and in college. Right now they are advertising a 0 down $190 a month for the sedan.

Fine print FEATURED SPECIAL LEASE: Closed end lease for 2011 Civic Sedan 5 Speed Automatic VP (FA1F3BEW) available from 01/05/2011 through 02/28/2011, to well-qualified lessees approved by Honda Financial Services. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $18,405.00 (includes destination, excludes tax, license, title fees, registration, documentation fees, options, insurance and the like). Actual net capitalized cost $17,085.10. Net capitalized cost includes $595 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Total monthly payments $6,650.00. Option to purchase at lease end $10,674.90. Must take new retail delivery on vehicle from dealer stock by 02/28/2011. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year for vehicles with MSRP less than $30,000, and 20¢/mile over 12,000 miles/year for vehicles with MSRP of $30,000 or more. See your Honda dealer for complete details.

Can anyone help me decide if this is a good deal or if I can negotiate more. Thanks!

CarMan@Edmunds · March 2011

Hi jdjgreenhair. Honda's official advertised lease payments usually leave a little meat on the bone so to speak. If I was in the market for a Civic right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $1,000 dealer cash that is currently available on this car.

Car_man
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thandamilk · March 2011

Finalizing a lease deal in NJ for 24 months Civic Sedan LX, 12K miles. Getting a sell price of $16,300 which translates to a sign & drive (all fees, taxes included, 0 due on signing) of $190 a month for 24 months.

Don't have the MF and RV right now but the math seems to hold up even on the most aggressive calculations because of that sell price.

Any comments/feedback?

dslunceford · March 2011

I picked up a Civic LX Sedan (Polished Metal Metalic) out the door price of $16,888.65 from Dulles Honda in Northern VA.

Vehicle has splash guards, pinstriping, door and wheel well moldings as extras, and all oil changes, tire rotations and multipoint inspections are included for three years.

Leased for 36 months/12K mileage per year. $175 down (incl 1st month payment), $163/month for 35 months. This included all fees (taxes/tags, etc) baked into lease.

Total payments over the 36 month lease = $5,780. Residual value at lease end will be $11,583 (same as current national 0 down, $200/month lease deal).

cpoeclass · March 2011

Can you help with the current figures for Civic leases? Trying to back into the figures from the terms of the current factory deals ($200/month for 35 months w/ nothing down or $149/ month for 36 months w/ $1,999 down for an LX at 12k per year). Residual seems to be 60% but I'm having a hard time calculating the MF without knowing what other fees, etc are in there.

So, my questions are:

1) What are the current MF and residuals for a 36 month 12k/year lease on a LX or LX-S.
2) Are the residuals any different for AT vs MT
3) Do you know what the MFs are at maybe one tier below "Super Preferred?"

Thanks.

delta737h · March 2011

cpoeclass,

Honda Ads make it very easy to compute the money factor because they always disclose payment, term, net cap cost, and residual (buyout). The methodology used to compute the MF and residual factor is described in the following article...

https://autoleasegeek.com/573/analyzing-and-evaluating-special-lease-promotion-o-

Hope this helps.

John
The AutoLeaseGeek

cpoeclass · March 2011

Thanks John. I'm actually pretty good with how leases work and have my spreadsheet open in front of me right now.

The difference from the example you posted is that the current offers shown on Honda website no longer explicitly state what the cap cost reduction is. That said, knowing all of the other variables, it appears to me that the advertised deals are based on about a $1500 cap cost reduction, MF of .00057, and a 60% residual.

welby107 · March 2011

Hi Car Man!

Going to pick up my 2011 Honda Civic LX Automatic tonight. Just for my peace of mind, was wondering if you could tell if I am getting a good lease deal with the following information:

36 Month, 12000 miles
MSRP 19305
Purchase Price 16488
Down payment 1000
Monthly $165 (actually will be $164 and some change)
Located in Northeastern PA

Thank you so much! First car lease...first car buying experience! Just sold my 1998 Honda Civic over the weekend (Thanks Mom and Dad for my first car!)

CarMan@Edmunds · March 2011

Hi cpoeclass. Honda Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Civic Sedan LX with 12,000 miles per year are .00057 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The money factor for an otherwise identical lease of an LX-S are the same, but its residual values are 1% lower.

The transmission type has no impact upon these cars' lease programs.

Car_man
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CarMan@Edmunds · March 2011

Hi welby107. The selling price that you were quoted looks great. It's below dealer invoice minus the available $1,000 dealer cash. Enjoy your new ride!

Car_man
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utexas06 · April 2011

Carman,
I'm looking at a 2011 Honda Civic LX MSRP $19,305 with a sales price if $16,433. I'm wanting to lease this vehicle for 36 months at 12,000 miles a year. What is the April MF and residual %? Can you give me an estimate of payments based on the $16,433 sales price? Thanks!

utexas06 · April 2011

2011 Honda Civic LX Sedan Lease

MSRP $19305
Selling Price: $16433
Lease Acquisition Fee: $595
Doc Fee: $299
Net Cap Cost: $17,277
Residual: 60% after 36 months
Money Factor: .00057

$0 down, $0 security deposit, $0 first payment
$177.68 for 35 months

What do you all think?

johnten · April 2011

I've called a few dealers and basically gotten the same quotes for a Civic LX sedan. Can someone weigh in and tell me if these are good numbers? This is also off the top of my head.

MSRP - $19305
Residual - $11500
Monthly - $200
Sale Price - $16750-$17000
Drive away just the title and registration. No down. No first payment.

I was hoping to get a lower monthly payment like some posters in this thread. Now I'm not sure that's possible with the 2012's just around the corner.

Thanks.

utexas06 · April 2011

johnten,
Go to truecar.com and enter your zip code and the vehicle you want. Click locate dealers and it will pop up competitive offers from multiple dealers. Select the dealers you want and enter your information in and you will receive an email shortly after with their best offer. The price you see is the price you pay. They will add the acquisition fee to that but be sure they are using the current money factor and residuals to calculate your payment. Hopefully you find a lower price on there.

utexas06 · April 2011

Not sure what city you're in but I found a Honda Civic LX for $16,079 about 25.6 miles from zip code 90001 in L.A.

2013 and earlier-Honda Civic Lease Questions

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