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Honda Civic Lease Questions

588 messages,  Last post on Aug 07, 2008 at 2:43 AM

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What is this discussion about? Honda Civic, Car Leasing, Coupe, Sedan

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#223 of 588 LX 2DR 5M lease quote-- sounds good to me. by smat74 Mar 26, 2007 (8:15 am)
I was just quoted the following for a Coupe LX 5M. I asked the internet salesman first about his "best" price for buying: he quoted $15,900 + 6% tax + $99 doc. fee + $23 plate xfer.   Next, I asked about leasing, and asked him for the MSRP, money factor, and if there were any other fees.   He replied: "At this time you can lease for 36mos with 12,000 miles per year and a total of $350 due at signing for $221 per month. That payment includes all taxes, therefore that would be your total payment each month. The amount due at signing includes your first month payment, documentation fee and plate transfer fee. If you need a new plate then I will need to calculate a new plate fee based on your birthdate."   In short: $350 at drive-off (incl. first pmt, doc fee, plate xfer). Then, $221/month (includes tax). Total out of my pocket after all is said and done: $8,085.   I know usually y'all ask for MSRP, residual, blah blah but just looking at this deal, it sounds pretty good to me (my objectives were LOW/NO DOWN PMT, MINIMAL FEES such as acquisition fee etc.). Am I naive in looking at "how much I paid at the end of the lease" as my guide (all terms of lease being equal...)?   Is this deal good? I'm hoping there won't be any other surprises sprung on me at signing.   Appreciate your comments.
#224 of 588 What is a good deal on 2007 LX sedan automatic? by luke111 Mar 26, 2007 (9:35 pm)
Hi car man, im a little confused. I am looking for a 36 month lease no down payment. I understand from your previous postings that through honda you can get 63% residual and 0.00275 money factor as long as you qualify for super prefered rate and you pay a deposit. I have nothing to trade in, so what would be a reasonable cap cost for the car? the TMV including destination charge is $18,280. Is that reasonable? Should I expected any other added costs? Does this TMV include the acquisition fee? Thanks Replies to this message: Car_man (Apr 03, 2007 4:29 am)
#225 of 588 Is this good? 2007 LX sedan automatic by luke111 Mar 27, 2007 (3:30 pm)
I was offered $17300 including destination charge, 36 months, $239 + tax, money factor 0.0280 residual 60%. no down payment, drive off cost = 1st payment+ $644 acquisition fee + $205 tags and registration. Replies to this message: Car_man (Apr 04, 2007 2:41 am)
#226 of 588 hi i need help by aramism Mar 29, 2007 (5:46 pm)
i am pretty familiar with car shopping and how leasing works (almost) and also in sales so i've gotten many cards before.   i'm getting a car for my mother and for my friends father. identical car.   07 civic lx 4dr/2dr whatever. as long as its automatic.   my mother currently has a 2003 civic lx which she probably got hit up a little hard on. was a 48 month lease where she paid taxes out of pocket plus other junk fees and she pays like 218 or something a month.   i figured she could get less on a 16,000 car. so i am looking to get her into the civic for 24 months with NOTHING except first months and bank fee and minor dmv fees out of pocket for like 200-220 a month.   i'm pretty sure that since the residuals are much better for a popular car like that on a 24 month lease program the payments would be better. but if the programs suck for that term then she wouldnt mind going into a 36 month.   everyone keeps telling me for the past few months that they cant get the car under $250 or so under those conditions. which i find hard to believe. also she lives in new york city (queens) so the tax is 8.625%   what is everyones feeling on this? Replies to this message: qbrozen (Mar 30, 2007 7:06 am) Car_man (Apr 04, 2007 2:48 am) aramism (Apr 06, 2007 9:52 am) Car_man (May 08, 2007 3:15 am)
#227 of 588 Re: hi i need help [aramism] by qbrozen Mar 30, 2007 (7:06 am)
Replying to: aramism (Mar 29, 2007 5:46 pm) My feeling is it ain't gonna happen. Simply put, even with a high residual on a 24-month lease like 68%, that leaves $5120 that you have to pay off on that $16k car in just 2 years. That alone comes to $213.33. NOW add in your interest, DMV, taxes, bank fee, and doc fees. Even if you pay the fees and DMV up front, that still leaves the $213 plus interest and taxes.   In this example I am giving, using a .003 money factor, it comes to over $310/mo.   Take it out to 3 years with a 57% residual and you are still at almost $290.   If you'd like to run your own numbers, you can visit Edmunds Lease Calculator
#228 of 588 Re: Tier 2? [gmenon] by Car_man HOST Apr 03, 2007 (3:59 am)
Replying to: gmenon (Mar 16, 2007 6:53 am) Hello Greg. The last time that I checked, Honda Finance's cutoff for its "Super Preferred" credit tier was 710. I'm not sure how much pull dealers have to get consumers bumped up to the next tier if they are close. The money factors for Honda Finance's "Preferred" tier are probably around .00030 to .00050 higher than they are for its top credit tier.   Car_man Host Prices Paid Forum
#229 of 588 Re: Tier 2? [ct07] by Car_man HOST Apr 03, 2007 (4:02 am)
Replying to: ct07 (Mar 16, 2007 7:44 am) Hi ct07. I'm sorry that you are having a difficult time following this discussion. A FICO score of 715 should qualify for Honda Finance's top aka "Super Preferred" credit tier. You just need a score of 710 or higher to be eligible for it. I'm not sure what "Tier5" is. Honda Finance doesn't have a tier that uses that name. Is the dealer that you are working with running your lease through a bank other than Honda Finance?   Car_man Host Prices Paid Forum
#230 of 588 Re: What is a good deal on 2007 LX sedan automatic? [luke111] by Car_man HOST Apr 03, 2007 (4:29 am)
Replying to: luke111 (Mar 26, 2007 9:35 pm) Hi luke111. I personally would shoot for a selling price of around $500 over dealer invoice for a lease of a 2007 Honda Civic right now. The closer you get to dealer invoice, the better. You should be able to get a good idea of how much you will have to pay for this car by checking out how much other community members have reported paying for it in the following discussion: "Honda Civic: Prices Paid & Buying Experience".   If you lease through Honda Finance, at lease signing you will have to pay your first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, a $595 acquisition fee, and any required state taxes or fees.   Car_man Host Prices Paid Forum
#231 of 588 Re: Is this good? 2007 LX sedan automatic [luke111] by Car_man HOST Apr 04, 2007 (2:41 am)
Replying to: luke111 (Mar 27, 2007 3:30 pm) Hi luke111. The dealer invoice price of a 2007 Honda Civic LX Sedan with an automatic transmission is $16,945. So, the price that you were offered is $355 over invoice, which is a very good deal. Plus the money factor that you were quoted is right in line with Honda Finance's current buy rate for this model (as long as you are not in one of the states that it has a special lease program on it right now - IN, KY, MI, or OH). If you like the car, go for it.   Car_man Host Prices Paid Forum
#232 of 588 Re: hi i need help [aramism] by Car_man HOST Apr 04, 2007 (2:48 am)
Replying to: aramism (Mar 29, 2007 5:46 pm) Hi aramism. Let's work up a sample lease payment on the car that you are interested in getting for your mother and see what we come up with. According to my calculations, if you were to lease a 2007 Honda Civic LX Sedan with an automatic transmission that has an MSRP of $18,355 and a selling price of $17,344 ($400 over dealer invoice) through Honda Finance in your area right now for 24 months with 12,000 miles per year, the zero down, pre-tax monthly payment should be around $289. This car's 36 month payment is much better at around $242, but as you can see you're not going to be able to get this car for $200 per month. After tax is will be over $250.   Car_man Host Prices Paid Forum Replies to this message: aramism (Apr 06, 2007 9:52 am) Car_man (May 08, 2007 3:15 am)

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