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Honda Civic, Car Leasing, Coupe, Sedan
#1217 of 1599 Lease Termination/New Lease Question
Jan 24, 2012 (9:49 am)
I need some advice, and this seems like the best place to ask. I'm going to be helping a relative with her negotiations on a new lease. Her current lease expires in April for a 2009 Honda Civic Hybrid. The complication is that there's some damage to the car that I'm almost certain will go beyond the normal "wear and tear." Specifically, there's a small amount of damage on the rear driver's side from a parking garage mishap.
She hasn't had a repair estimate done yet, but she's really hoping to find a way to have the damage cost taken care of as part of starting a new lease. So I guess the questions are as follows:
1) If she's willing to lease a new car from the dealer, how likely is the dealer to waive the cost of the damage as part of the negotiation? I've read that dealers sometimes waive excess wear and tear, but I'm not sure how that works or how to go about negotiating it.
2) If the dealer will NOT waive the damage, is there any chance that they would roll the cost of the repair into her new lease?
#1218 of 1599 Re: Lease Termination/New Lease Question [vorare]
Jan 27, 2012 (5:07 pm)
It depends how much damage there is. As for rolling costs into the new lease, it can theoretically be done with a small amount and excellent credit.
I have seen car dealers in this spot say they will "waive" the additional damages on the car you're turning in, only to make up for it on the price of the new car being leased.
The best thing for you to do is get the current vehicle appraised by several dealers (including, if you want, the dealer you plan to get the new car from--you can even give them the last option for your convenience, and as a courtesy).
THEN, separately, research what you should be paying for the new car being leased, and negotiate until you get to that number (or as close as you are comfortable with/have time for).
By treating the two transactions separately, it will be easier for you to get maximum value for each (whatever that happens to be).
Please let me know if you have any questions.
#1219 of 1599 Re: Lease Termination/New Lease Question [dannymargulies]
Jan 28, 2012 (5:09 am)
Follow Danny's advise. You will pay dearly otherwise.
#1220 of 1599 residuals for ex-l nav and ex no nav?
Jan 30, 2012 (1:31 pm)
Could you please let me know the current money factor and residual rates for the:
civic ex-l with navigation - 4 dr sedan
civic ex without navigation - 4 dr sedan
Thank you very much!!!
#1221 of 1599 Residual and MF for LX Sedan
Feb 02, 2012 (8:00 am)
Could you please provide the 36MO/12K MF and residual for the LX Sedan . Trying to negotiate a lease for my elderly mother and need to make sure she is getting the best deal.
I have this for the EX but need to confirm for the LX
36 Month – Residual 62% of MSRP – .00081 Base Rate
Thanks so much!
#1222 of 1599 Car Man -- Help on Civic EX Navi Lease
Feb 05, 2012 (1:09 am)
Hi there. I'm 99% ready (and a little sad) to trade in my 2010 Acura TL and jump into a 2012 Civic EX with Nav. Gotta save some money. MSRP would be 22755. I believe one quote I got was selling price of 21,028. I can figure the financing, but if you could give me the 12 and 15k residuals for 36 months and money factor for top tier credit it would be greatly appreciated!
Also since my trade will be worth more than the new car, I won't have to pay sales tax on the Civic right? This is New Jersey. I know you generally pay the difference....(New car worth 30g, trade in worth 10g, you pay tax on 20g).......So no tax makes sense here right?
I'd really appreciate the info. Looking to do something this week. Thanks!
Feb 05, 2012 (9:49 am)
The latest Civic is a real mess! Honda knows it , we know it, and you should study why. Honda has made the unprecidented move to redo this car ASAP. If I were you I'd either go for a Hyundia Elantra (Can't believe I'm telling you this but Hyundia is the right choice). Otherwise you can extend your current lease from month to month till youi get a look at the revised Civic due out in late fall. You'll also get a mileage allowance per your original lease terms.
We have an 09 Civic EXL navigation with a lease expiring in July. We are going month to month till we see if Honda is serious about fixing the new Civic..other wise it is on to another brand. Also consider the Buick Verano. It will be the fist time in 20 years and 10 Hondas, but we already moved away from the Accord and may follw suit with the Civic being replaced too. Honda has lost it's way on Accord and Civic!
#1224 of 1599 Re: Don't do it! [robtroxel]
Feb 05, 2012 (9:15 pm)
Really? It seemed some things changed on this model from the reviews I read, but I didn't get the feeling I should "stay away".....Why? What did they screw up?
I don't have a TL lease...it's a purchase....trying to save money and lower payments as soon as possible. I'd like something sorta small and somewhat sporty if I could. I was considering a Hyundai Veloster...Briefly thought about an Accent. Do you have any other suggestions for a car priced around 21g including Nav?? Thanks!
#1225 of 1599 Re: residuals for ex-l nav and ex no nav? [blurry_image]
Feb 07, 2012 (4:05 pm)
Here you go blurry_image. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Civic Sedan EX-L with Navigation and 15,000 miles per year are .00081 and 56%, respectively for consumers who qualify for its top credit tier.
The money factor for a lease of a '12 Civic Sedan EX without navigation would be the same, but the residual value would be 60%.
Prices Paid: Buying & Leasing Experiences Forum
#1226 of 1599 Re: Residual and MF for LX Sedan [dolsey01]
Feb 07, 2012 (4:07 pm)
Here's the information that you're looking for dolsey01. Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Civic Sedan LX with 15,000 miles per year are .00081 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Prices Paid: Buying & Leasing Experiences Forum