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Honda Civic, Car Leasing, Coupe, Sedan
#1304 of 1598 August 2012 Honda Civic Lease
Jul 24, 2012 (7:12 pm)
Hi Car_Man and others,
These forums helped me get a fantastic deal on a Sonata lease 18 months ago now I'm hoping you can help me again.
My fiance's current lease is coming to an end; she has a 2009 Civic with 16,000 miles (not a typo).
Based on her low mileage I'm wondering if I can use this is a negotiation tool. Though my initial thought is it's only beneficial if the trade in value is higher than the end of lease buy out.
So here are my questions:
1. What is Honda's current RV for a 2012 Civic EX based on 10K & 12K miles/year?
2. What is the MF for a 2012 Civic EX?
3. Are there any incentives for signing another lease with Honda?
I greatly appreciate your advise and suggestions! Thank you!
Jon - Columbus, OH
#1305 of 1598 Re: August 2012 Honda Civic Lease [car_guy11]
Jul 30, 2012 (3:03 pm)
Hey Jon. How are you enjoying your Sonata?
That certainly is low mileage. You certainly can try to use that to your advantage in your negotiations.
Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2012 Civic EX Sedan with 12,000 miles per year are .00077 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
I am not aware of any loyalty cash incentives on Hondas right now, but you definitely need to make sure to take advantage of the $500 dealer cash that is currently available on this model.
Prices Paid: Buying & Leasing Experiences Forum
#1306 of 1598 Estimated Fees and Taxes During Lease Term
Aug 03, 2012 (9:53 pm)
It was agreed that all taxes and fees would be rolled into my month payment on the Civic EX I just got with a trade in.
However, I just reviewed my lease agreement thoroughly and noticed that there is a section called "estimated fees and taxes during lease term": $2281.05
It says that I agree to pay this whether it is included in my monthly payments, lease signing, or "otherwise assessed."
I paid 0 down.
The base lease payments line states "255.01" which is my agreed upon monthly payment
monthly sales/use tax line states "N/A"
sales/use tax states "N/A"
At the Honda website (http://www.hondafinancialservices.com/account-management/account-faqs) this is what it states regarding this:
Why did I receive a separate bill for taxes? Isn't this part of my monthly lease payment?
To ensure you are billed accurately for your property taxes, we initially pay the tax bill on your behalf and then send you a bill in turn. For an estimate of these charges over the term of your lease, please refer to the "Estimated Fees and Taxes During Your Lease Term" section on the front of your lease agreement.
So... does this mean that I was duped into having to pay 2281.05 on top of my monthly payments?
#1307 of 1598 Re: Estimated Fees and Taxes During Lease Term [james324]
by kyfdx@Edmunds HOST
Aug 04, 2012 (5:52 am)
That line is a result of the Truth in Lending act..
It isn't actually a bill.... it's just an estimate of all the taxes you'll pay over the life of the lease (sales tax, property tax, registration, etc..). It's on all vehicle lease contracts..
Your sales taxes most likely are rolled into your lease... However, if your state levies property taxes, yearly registration fees, etc.. on vehicles, then that will be your responsibility...
#1309 of 1598 Is this a good deal
Aug 05, 2012 (4:42 pm)
in North Jersey, I negotiated this deal
$173/month for 39 months
10K miles, .15 per mile over
1190 for fees and first month
I don't think it's a great deal.
I walked out when they would not go lower. I told them that I want $160 per month, 36 months, 0 down, 12K miles per year, .10 per mile over, $1190 for fees and first month.
Is this a good deal?
#1310 of 1598 Re: Is this a good deal [ariknyc]
Aug 06, 2012 (6:59 am)
I am no pro at buying or leasing cars but I have a few comments regarding your deal. First off, I would never do a 39 month lease. Your warranty runs out after 36 months so you should insist on a 36 month deal. Second, find out what the Honda incentives & lease promotions are for August. Last month they has a $500 dealer cash incentive. Focus on the price you are paying for the car. The lower the price, the lower your payment. Look at the "prices paid" thread to get an idea what people in your area are paying.. Find our what your dealer's Document fee is. Alot of dealers will not budge on this so if they want $300-$400 dollars make sure you get a reduction in the selling price of the car to offset this charge. Stay away from window etch & other dealer added options. Consumer Reports just came out with an article listing the 2012 Civic as one of the worst cars to buy. Use that to your advantage to get your deal. Lastly, I would not pay that much "out the door". Your registration charges in NJ should be under $300. I would pay that along with first month only so insist on $500 out the door including first month payment.
#1311 of 1598 Re: Is this a good deal [jetfan]
Aug 19, 2012 (3:35 am)
Ok so here is the deal that I got. $1000 down including fees, taxes, first month etc. $175/month, .00067 money factor, Honda Lease, 12K/year $.15 per mile over. Got this from Mahwah Honda in north Jersey. I think I could have lowered them to $170 per month but saving about $180 was not worth the additional time.
#1312 of 1598 Re: Is this a good deal [ariknyc]
Aug 23, 2012 (12:58 pm)
Feel proud, you did very well. You sure put me to shame on my civic lease. Good luck to you!
Aug 26, 2012 (6:30 am)
I found this forum REALLY helpful in my search so I thought I'd post my experience!
2 Weeks, 4 dealerships - black Civic Sedan LX
Final Deal - Payment is $207 + tax. 0 down, 0 first months payment. 36k/3 year lease. Included maintenance package that covers all oil changes/service to 30k. Pinstripe, scotch guarded seats (not requested, but all of their cars had it).
The sticking point was my trade in (upside down). I got the first dealer to offer me 300 less than payoff while everyone else offered 2-3k less than payoff. The first dealer was really rude and I REALLY didn't want to get the car from them, so I showed the last dealer the lease contract from the first and told them if they could beat it by $1 I would buy the car from them. It worked!
I feel like I got a good deal considering my trade in. (I hope I did! Easier to sleep at night!).
Also, their finance manager told me that putting zero down gives you a money factor of .00067 while putting some money down gives you .00077. I'm not sure if that is accurate for every dealer, but it might be worth asking about!