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Prices Paid: Buying & Leasing Experiences Honda Civic Lease Questions
591 messages, Last post on Aug 29, 2008 at 2:53 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Car_man (Jul 23, 2008 3:05 am) Chrysler has already announced that they will exit the lease business on August 1st. Cerberus Capital not only owns Chrysler and Chrysler Financial but controlling interest in GMAC as well. So I suspect GM will follow shortly. Ford took a $2.1 billion charge for the quarter due to falling lease residual values. Honda just released their first quarter financial report and noted that they expect falling lease residual values in the USA to cut their operating profit by $231 million. Just look at the residual calculations on 2006 Ridgeline's as an example of how wildly they miscalculated. I believe the manufacturer sponsored consumer lease will soon be history. Only time will tell." Taken from ROC site. Interesting reading. 
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Replying to: sparkland (Jul 25, 2008 5:30 pm)  . Seriously, real world value has never had any meaning for a captive lease. Just like the prime rate has no bearing on the lease MF from a captive bank. They come up residuals and rates to move product and not based on anything real world. They have been doing this for years. Yes, the $4 gas and the bottom dropping out of the truck and SUV market has hurt them a lot. But they always lose out at lease end when you turn the car in every captive deal I have ever done. Trade / auction value is never more then buy out even on a primo value car like an Accord. I think they may try to get more real world in the residuals and may have to quit with the stupid low rates, but again they have been doing that stuff for years. Our 08 Pilot is leased at 0.31% effective interest and the residual was based on full MSRP (not counting the package discount) and we got dealer incentive money to make it even sweeter. The "interest" on our 3 year lease is less than $200. So even if the Pilot holds value (and it will not) they are losing out loaning us the money for nothing. It will be interesting to see what happens. 3rd party leasing has been taking it on the chin due to the bloated residuals and cut rate MFs on captive leases. Maybe the pendulum will swing the other way now? I would say it will probably be harder to get a super lease deal in the future though, which is sad. I have heard of folks being able to negotiate their lease buy out prices once again. This used to be a bonus you could get with leasing - buy the car at lease end for under residual to save even more. Then the banks started carrying residual insurance and that went away. I guess the insurance has a limit? If you have a guzzler coming off lease the bank does not want you to turn that baby in - no way. Dennis |
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Can someone please post the current lease rates for this car. Thanks.
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Replying to: bcwest (Jul 30, 2008 11:33 pm) 2yr/15k 2008 Civic DX auto sedan 3yr/15k 2008 Civic DX auto sedan |
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Helping my sister shop for a new Civic Coupe or Accord Coupe . What are the rates/residuals for an 08 Civic coupe EX-L  12K per year? Also, if we bump up to 15K per year, how much difference will that make?
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Replying to: bcwest (Jul 31, 2008 10:19 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: dodgehappy (Aug 05, 2008 6:21 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (Aug 07, 2008 2:36 am) I'm trying to lease a new 08 civic: I wish to get a Honda Civic Coupe Ex Manual, They quoted me at msrp at $19435 $2000 down and monthly payments at $313. Is this a good deal? I felt that was overpriced so I walked away. Btw I'm in northern california. My credit score is in the high 750+ I wanted them to lower the price but they told me price was not negotiable since their inventory is running low. Is this true on civics?
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Replying to: likuid (Aug 28, 2008 3:27 am) |
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Replying to: likuid (Aug 28, 2008 3:27 am) Also, you mentioned that you were asked for a $2,000 down payment on this deal. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled. At lease signing, you should only pay your car's first month's payment, Honda Finance's $595 acquisition fee, and a security deposit equivalent to your car's monthly payment rounded up to the nearest $25 increment. You can even have your security deposit waived in exchange for a .00010 money factor increase and roll the acquisition fee into your car's cap cost if you want. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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