Last post on Dec 09, 2013 at 5:19 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Honda Civic, Car Leasing, Coupe, Sedan
#1460 of 1599 2013 Honda Civic EX-L: Residual and Money Factor Requested
Jul 15, 2013 (12:03 pm)
I'm looking to lease a 2013 Honda Civic EX-L with 12,000 miles per year for 3 years. I could put money down if that would provide the best deal.
What are the current money factor and residual rate on this model from Honda Finance? I would qualify for top tier credit rates. I've seen several quotes on the LX; but nothing recent on the EX-L.
Also, what amount below invoice would be considered a solid price on this model?
Thanks in advance for the great info.
#1461 of 1599 Re: 2013 Civic Si Sedan [ihitcows]
Jul 15, 2013 (2:21 pm)
Hey ihitcows. Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2013 Civic Sedan Si with 15,000 miles per year are .00047 to .00106 (they vary by state) and 60% for consumers who qualify for its top credit tier.
Prices Paid: Buying & Leasing Experiences Forum
#1462 of 1599 Re: 2013 Honda Civic EX-L: Residual and Money Factor Requested [indygreg09]
Jul 15, 2013 (2:23 pm)
Hey indygreg09. Please see my previous post for the money factor information. The 36-month, 12k residual value for a '13 Civic Sedan EX-L is 59%.
By the way, there is a $500 cash incentive on leases of this car right now. Make sure to take it into account during your negotiations. I personally would shoot for a selling price of around invoice minus this cash.
Prices Paid: Buying & Leasing Experiences Forum
#1463 of 1599 Invoice Price
Jul 15, 2013 (4:21 pm)
Hey guys, I am pretty new to leasing. I have been emailing with a few dealers and I was able to get some to lower the price. For example one guy first asked for $19,200 for a 2013 Civic LX automatic sedan no options and 36 month lease. I told him that I was talking to a few other dealers and they offered me better prices and I offered him $17,200. He budged down to $18,423 and said that was his invoice price and could not go lower than that.
Could it though? How can I get him to budge more? Any other advice? I am first trying to negotiate the selling price and then start talking about other aspects such as money factor.
Thanks to anybody who helps me.
#1464 of 1599 Re: 2013 Honda Civic EX-L: Residual and Money Factor Requested [CarMan@Edmunds]
Jul 15, 2013 (4:24 pm)
Where could I find the information for this incentive? Does it also apply for the LX model?
#1465 of 1599 Re: Invoice Price [cheme24]
Jul 15, 2013 (11:10 pm)
Well, it's my opinion you won't get the best deal by email. You'll get the best deal by going into a dealership ready to buy. I'd go into 2 or 3 dealerships, test drive a civic, tell them what you want to pay. Or, do the test drives,then make offer via email if you are more comfortable with that. Most of the dealerships I've dealt with won't even give me a quote via email. They just write to come in for a great deal.
If dealership can't meet your price...walk. If they can go lower, they'll stop you before you leave, or call you back later in the day.
$17,200 is pretty low from what I've read here. Depending on the area you live in, the dealership may or may not be able to go that low. Sure doesn't hurt to try
though. Seems like you should be able to get under $18,000 without too much difficulty.
Jul 16, 2013 (4:53 pm)
I recently got an offer for the selling price of a 2013 Honda Civic LX sedan automatic to be $17,900. Is this a good starting point to a deal?
#1467 of 1599 Honda Civic Lease Questions
Jul 18, 2013 (11:55 am)
36 months lease with 12k. From 3 dealers, I have been quoted around $235 - $250 a month with nothing due at signing and everything rolls into the monthly payment. Its $215 a reasonable amount to aim and ask for?
Edit: Civic LX
#1468 of 1599 LX or EX automatic sedan lease
Jul 18, 2013 (2:31 pm)
Just posting what I’m considering for a one-pay 3yr/36k lease of either a 2013 Civic Sedan LX or EX. What I have so far …
All-inclusive* one-pay (after some Honda cash incentive): $6,007
Residual Value: $12,050
All-inclusive* one-pay (after some Honda cash incentive): $6,620
Residual Value: $13,179
* includes tax, title, tags, dealer doc fee, acquisition fee, depreciation, “rent”,etc.
I’ll post better detail if I execute tomorrow.
BTW, this would be my second lease after a ’12 Accord I leased last year (post #4670 on Accord lease forum) which was a great deal with end-of-model-run incentives. Being a savvier buyer than leaser, I recommend those who are similar and otherwise new to leasing evaluate it against buying the car and then consider the intangibles of the difference in cash flow and the ability to simply walk away without having paid tax on the full value of the car at the end of the lease term.
For example, for the Accord I leased last year I will have paid $7,739 over the lease term. With a residual value of $14,064 and tax on this residual of 7%, if I buy the car at the end of term I will have spent $22,787. Alternatively, if I had purchased and financed (all costs rolled in) for a typical 60 months at a rate of 3%, at the same point in time (36 months into the loan) I’d have paid $11,351 in P&I and owed a balance of $11,436. Paying off the loan then would have also totaled $22,787. In my case I preferred to lease which allowed me to preserve cash flow early and keep the option to walk away at lease-end hassle free or go ahead and buy without having paid too much versus purchasing/financing. Of course, a lower rate than 3% or a total cash buyer would save some money and may be inclined to choose the opposite. Bottom line is it’s not all apples-to-apples and includes much personal preference.
#1469 of 1599 EX Sedan 3yr/36k mi lease
Jul 19, 2013 (6:28 pm)
Just leased a 2013 Civic EX Sedan in silver with gray interior for 3yr/36k miles. Here are my numbers for the all-inclusive one-pay lease.
MSRP: $21,605 ($20,815 + $790 destination)
Sales Price: $19,100
One-Pay*: $6,620 (the only amount paid for the full lease term in a lump sum)
Residual at end: $13,180
* includes: depreciation, “rent” ($11.88), doc & acquisition fees ($250 & $595 respectively), Tax (Ohio 7%), Title ($15), Tags ($52.75) and extra capital cost reduction rebates provided by Honda (-$700) due to college grad program and ???
Upon first negotiating this lease, I asked for both sign&drive (i.e., 100% monthly payments) and one-pay (100% up front). Numbers I was initially given included $500 Honda cash. I then shopped two nearer dealers and got $158 better on the one-pay. I called my initial salesman and presented the “better” deal. He dropped $200. Then, having recently completed a Masters degree, I asked for an additional $500 from Honda for "college grad". This accounts for the extra $700 deducted from the one-pay to arrive at $6620.
Independent of my Honda lease I will also get a nearly $600 rebate from my Citibank Driver’s Edge Charter MasterCard. This is another trick that can be done when leasing. This card lets you earn $500 per year at a 2% rate on your charge use. You can build up $1500 maximum over a 3 year moving window and use it on a new or used car, lease or purchase. If you use it on a 3 year lease, and then re-establish a new credit balance and then purchase the car for residual, you can use it again on the same car! That is once for the lease and another time for the sale. At least I think I can? I’ll find out later.