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2013 and earlier-Honda Civic Lease Questions
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Anyways, it doesn't seem to me like you got a very good deal at least by Atlanta standards. I just signed a lease, waiting for mine to come !! Dark blue EX (no nav) with tan interior. Can't wait. Anyway, I didn't put any money down and my payments are 266/month for 42 months ... and that's for an EX. I had a deal worked out before i learned not to put money down that was 3000 down, 218/month for 42 months.
That's all i got for you ...
How could it cost more money in total, by puttin 3k down and payin $218 a month which equals $12,156 vs $0 down and $266 a month for 42 months which equals $11,172?
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This thread is quite informative! Can you help me out? I am looking at a 2006 Civic LX in San Francisco. I was quoted for a 36 month lease, 36000 miles, $1000 down, and $250 a month. Is this in line with the standard? Is this more appropriate for an EX? Should I get rid of the down payment?
Thanks!
Justin
I'm in the market for a 2006 Honda Civic LX. I want to lease for 36 or 42 months. I had a couple of questions for you:
1. Can i get more than 15,000 miles per year on a lease? (20-25k?) I drive 100miles each day.
2. Is there a difference in residuals and/or money factors between manual and automatic transmission models?
3. What are the residuals for Coupe, versus Sedan.
Thank you...
Sergey Dubin
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There is no difference between the lease programs for Honda Civics equipped with manual or automatic transmissions. If you were to lease a 2006 Honda Civic LX Sedan through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 59%, respectively. The numbers for an otherwise identical lease of a 2006 Civic Coupe LX would be .00265 and 58%.
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36 Month lease, 12K miles/year, No money down.
And I have an excellent credit score of 780.
Price is "out the door" -- paying just the first payment and plates.
The best offer I got so far was $ 289 a month.
...And I am asking, is this really the best I can get these days? Even though I know those cars are selling like fresh donuts... Still, to me it seems high.
1. Honda just posted record sales for November, and despite the claims that there are shortages or whatever, the Civics are everywhere, and ANY dealer should be able to find one for you (even if you have to wait a week or so).
2. I got my Civic LX Coupe for ZERO down, $225/month. If you're interested in my exact strategy that I used when negotiating (because it did take some effort, feel free to email me).. the "lowest" dealers initially agreed to go was $269, but that changed pretty quickly.
I'm sharing this because I want those who are on a tight budget like myself to know they can still get into this great car. And remember, since this car has such a amazing retention value, IT SHOULD LEASE FOR LESS! The dealerships will profit when they sell it as a certified used vehicle!
I can post a longer explanation, including some specific numbers, but I think this is long enough for now..
Well, I'd like to email you but there is no address available in your "member profile"...
If you get an '06 for that monthly payment of $225 -- OUT THE DOOR (first payment, doc fee and plates are always extra), with ZERO DOWN and if it INCLUDES the taxes... Boy, $225 really seems just too good to be true.
This morning I actually decided to go with a local LEASING COMPANY, ordering the car for me today (simply asking my verbal agreement, no down payment required), for end of January delivery FOR $249 A MONTH.
And when I told that to the dealer who was the cheapest around ($289), his reaction was almost embarassing... He would not believe me...
So please, xxcivicxx, share with us the secret.
my email is not hidden, it's available to anyone registered on this site.
if anyone still would like some help, let me know.. i don't want to post my strategy for personal reasons.
B. Your email address was NOT available on the Member Profile box as of this morning. You changed it since, that's nice.
C. Your Message #38 from October 28 is revealing QUITE DIFFERENT NUMBERS as to the deal you got... Here is what you posted on this board then:
$0.00 down
$650 at inception (TTL, first month payment, etc. etc)
$260.00/month
42 month, 12k/yr.
So it's not 36 months -- but rather 42 months, and it's not $225 -- but rather $260...
Now, tell us, which one is it, xxcivicxx?
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---------- See, Car_man, but I did it backwards. I didn't first negotiate the selling price of the car (before turning to the leasing option), nor am I interested in it's price now....
I simply turned to 3 local dealers (and 2 leasing companies), gave them the same info:
Civic LX AT
36 month lease
12K miles/year
No money down (except first payment and license)
My credit score is 780 (yes, it's very high)
---- And asked for a monthly payment, out the door.
The offers I got from 2 dealerships were both "in the low $300s". The best I got from one dealership was $289, promising to get the car with the color I want "in a week or two". Not bad.
....Then, on Friday, one leasing company (recommended by a friend who's been leasing cars from them for years) offered the car for $249, but with a late January delivery. They did not ask for any money down, nor any signed agreement on my part...
I think the latest offer is really a great offer, seems legit, and I am taking it.
...Am I wrong, Car_man?
Civic LX
Sticker + options 17860
Months of lease 36
Residual % 36 months 0.57
Residual after 36 mo 10180.20
Selling price 16465
Less residual -10180.20
Depreciation 36 mo 6284.80
Per month Deprec 174.58
Interest rate 5.0000
Money factor(example) Using 5% int 0.002083
Interest per month 55.51
Lease payment without Tax 230.09
Lease payment with CA tax 8.25% 249.07
Inventory + Dest on Edmunds is 16375
Any questions? Just ask, as I am doing the exact same thing myself and only have an offer so far of $17000 yielding a lease payment of $265 per month incl sales tax.
I am in Sunnyvale CA, where are you?
So, Is your calculation of $249.07 montly lease payment based on a sale price of $16,465 or is it $16,375 (incl. tax)?
And, based on a 7.25% tax, is $249 a month really "outrageous" or "an error, too good to be true", as some dealers here were trying to tell me?
What do you think?
I am in Ohio, near Cleveland. I was givien a lease quote for 42 months on an EX coupe (2006) for $290/mo. Thats with nothing down. I calculated my own lease and came up with $267. Can you tell me what the residual is on this car?
2006 EX coupe 42/mo 1200 per month no navigation
Thank you so much!
2006 Honda Civic LX, 4 Door, automatic, no other options. I am in Indianapolis, Indiana. For a 36 month lease the best deal I have found is $297.94, this price includes all taxes and nothing down. For a 42 month lease the best deal has been $278.95. Any thoughts on these deals? And should I be able to get a better deal? My credit is excellent. Thank you for your help.
The dealer stated that the credit union could not match them on such items as built in gap insurance, Honda finance's $1500 damage waiver at lease end, as well as Honda's Pull Ahead and Honda preferred programs. Any thoughts on these items? I will check with the credit union after Xmas to see if they do not offer such items.
Any thoughts would help, thank you.
I am a returing AHF leasee so they will wave the aqcuisition fee and security deposit.
Based on that, they quoted (before tax) 385 for 36 months 12K/yr and about 400 for a 15K/yr lease.
This seems kind of high since my 03 Accord EXV6 lease payment is 340 for 36 mo 15K/yr.
Can you supply the Money factor and residual amounts that AHF is using so I can check their numbers. My credit score is above 700.
Also when calcualting, do I use the 19990 or the price with destination added in?
It will be interesting to see what the lease should be and to then compare what i could get a new 06 EX V6 for in comparsison (I think I can get close to invoice for purchase price of the accord).
Thanks in advance!
Here is what i got:
Civic SI lease payments - my calcs (assuming 0 down no aqc, security waived and before taxes).
selling price 20450 (MSRP including destination)
MF .00255
residual 59% = 12066
12000 / yr 36 mo
Lease payment before taxes 315.84
price 20450
MF .00255
Residual 61% = 12474.5
12000 / yr 36 mo
Lease payment before taxes 305.48
Do these numbers look about right? If these are correct, I may email them back to the delear to see what they say now
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Does Honda have a special this month?
Do you happen to know the residuals and money factors for the civic ex coupe for 24 months/12 and 15k and the same for 36 month 12 and 15/k????
I was looking for the residuals and money factor on a 06 Civic Hybrid (with navigation). Over the phone, the dealer has quoted me a 58% residual for 36 months @ 12k miles per year, and a money factor of .00315 (seems kinda high). Was hoping to find out if these numbers are correct? Thanks a lot.
I am looking to get out of my '05 Jeep Grand Cherokee due to constant mechanical problems (imagine that). I purchased the vehicle new, and unfortunately doesn't qualify under Lemon Law. I am looking into leasing an '06 Civic LX, as it seems this may be my best option. I owe approximately $30,000 on the Jeep, and I get a KBB trade-in value of close to $22,000. I assume the dealer can absorb most of this negative equity. I don't have enough experiences with leases, but I am looking for an economical import. Perhaps a Nissan Sentra, which currently has a $2500 rebate, would be a better option? I have been looking up work sheets regarding leases, and the other posts regarding this. I am looking at a 36 month lease, @ 15,000 miles per year. I want to put down the least amount of money possible with this as well.
I am looking at getting the specifics on this vehcile ('06 Honda Civic LX, AT, 4 door) out the door. My credit score has been lowered to a 680, due to a bank error on a loan. It will take 60 to 90 days to remove the error. I have an 8.25% sales tax to consider as well. Any other responses from members are welcome, and I am located in Southern CA. Please let me know.
Thanks!
$249 a month certainly sounds a lot better than in the low-$300 a month range. Many consumers shop around by looking strictly at lease payments. I personally prefer to look at every aspect of a deal before I agree to it. This is why I find the MSRP and selling price so important. With these numbers I can figure out what lease payment to shoot for in negotiations. Another way to look at this deal would be to use this car's base MSRP and dealer invoice price to figure out what the lowest possible lease payment would be on it and work our way up from there. A 2006 Honda Civic LX Sedan with an automatic transmission has a base MSRP of $17,860 and a dealer invoice price of $16,375. Using these numbers and Honda Finance's actual lease program I estimate that the lowest possible monthly payment for a 36 month, 12,000 mile per year lease of this car is $229. If you were to get this car for $500 over invoice, your payment would increase to $245 for an otherwise identical lease. This is fairly close to the lease payment that you were quoted, so yes I would say that you are getting a good deal.
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I am expecting the car this coming weekend... Since the deal was done thru a leasing company, I suspect that they were not going thru Honda Financial service, but thru a private bank (but I will ask when getting the car), which may have their own calculation as to this car's residual value (probably HIGHER than Honda's own calculation?)...
If I am getting it right, what you're saying is, if neither the dealership, nor the leasing company WOULD BE MAKING ANY MONEY -- I should pay $229 a month (based on a dealer invoice price of $16,375.), right?
Thanks very much for your reply. You are correct! The dealers I've spoken to require me to come up with a crazy amount of cash to get out of it. Luckily, my Jeep is still under warranty, as I only have about 10,000 miles on it. I will be driving this poor excuse of an SUV until my warranty is up, and then evaluating my options from there. I will NEVER purschase another Daimler-Chrysler vechicle again; I should've listened to all of the horror stories.
Thanks again! You are a great resource for people in the market.
I signed the papers and wrote a check for the first month, title and doc fee. Zero money down, 36-month lease, max. 12k miles a year. Monthly payment of $249.
The leasing company is called Car Leasing, Inc. in Lincolnwood, Illinois. Their headquarters is in Dallas, Texas.
Namely, in about 6 months I have a 2003 Civic EX A/T coming off of lease. I leased the car originally because my previous Civic was stolen, I thought my grad studies would be done in 3 years, and I couldn't afford the payments on a loan. Well, guess what, research isn't done! So, I find myself needing a car I thought I might not (i.e., if I went to New York City, say, after PhD) and I'm still on a grad student salary.
Now, the car has a buyout of a little over $11k. But, I'm what you might call a light driver. I expect at the end-of-lease to have about 7000 miles on the car (with all maintenance every 6 mo). Most online blue books tell me the car is worth more than $11k.
So, what do you guys recommend? Should I buy the car, turn around and sell it, and then go back to the dealer with some money down? Or do dealers often have incentives when you turn in a leased car that is as low-mileage as mine?
Buy the car... if it is leased through Honda Finance, call them and ask them about financing options.. I wouldn't involve the dealer at all...
If after buying it, and paying the sales tax... if you think you can sell it and turn a profit.. and that is what you want to do.. then, by all means, go ahead and try..
Just leave the dealer out of it..
regards,
kyfdx
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