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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
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I went in today to lease a Honda Civic LX Auto in South FL. Originally I was planning on buying and the price we reached was 16,200. I changed my mind and rather lease the vehicle. They couldn't tell me a MF without running my credit, which I didn't want to do. The residual was around 11.5k for a 36 month 12,000 lease. I basically shot some numbers $1900 down and $198~ a month after tax payments. I figured the total amount of the lease amounts to $8830. Another dealer offered "Civic LX is $223 + Tax ($236 Tax included), The Ex for $ 245 + tax ($260 Tax included), The Hybrid for $ 282 + tax ($299 tax included). " and "All you need is an excellent credit and inception money around 600 more or less" By the way I live in Hollywood Florida and the tax here is 6%. I'm pretty much looking around for the absolute cheapest price. I can wait out this purchase as well. This is a car purchase to take some load off my lower MPG vehicle. |
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Hey guys, this will be my first time with a new car of any variety. My suburban Detroit dealer offered the Civic LX automatic, zero-down, 3 years, 12k miles/yr, $240 a month. Very similar to the deal offered to bigrich20970 according to his Feb 8th post. Does this sound good? I am trying to learn the importance of money factor and residual value, but if I have the quoted monthly payment isn't that enough? Thanks for the help.
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Replying to: normcook (Mar 13, 2008 7:10 pm) Upon reading bigrich's deal again, his was a sign-and-drive while mine is zero-down, so mine is not quite as good. But it appears there are other factors involved I am not considering. Help on straightening myself out would be appreciated. Sales tax in MI is 6%, if that is a start. |
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I need someone out there who knows the money factor on a Civic LX automatic sedan. My wife's car has finally kicked the bucket so I am going to lease her a Civic. We want to do the 36 month lease with 15,000 per year so I hear the residual on that should be 61%. If someone can help me with the money factor I will greatly appreciate it. I have to get her a car to drive ASAP but I don't want to be ripped off.  Thank you!!
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Hi All, Drove an SI today, loved it. Looking at a sedan with Navi, msrp is $23,695 I would like to do a 36 month lease with nothing down, have good credit. 15k a year unless 12k is significant savings? Anyway, I am new to leasing so will simply ask, what would a reasonable package look like? Thanks.
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Alot of the cost depends on your credit rating. Im wondering if anyone has used the "one payment option" where you pay the entire cost of the lease up front. I know there is risk if the vehicle is totaled/stolen, then your out the remaining upfront payments. But if I'm paying the total lease up front I should have a theoretic rating of 850.  Does anyone know of any drawbacks or problems using the one payment method? This lease stuff is difficult to figure but this is my guess without talking to dealers yet. Does this seem correct. 08 Civic LX Sedan + Destination 16,984 Cap Cost Reduction -1,205 Residule -12,000 Trade In -500 ===== 3279 Term 24 Months Money Factor .00207 Depreciation Fee 136.63 Finance Fee 57.50 NJ Tax 7% 13.59 ====== 207.72 Total Lease Payment 4985.28 Plus Doc Fees Plus Title and Registation Am I close on my numbers or am I way out of wack? Thanks Jim BTW, I just tried Edmunds Lease Calculator and I see it doesn't calculate Sales Tax correctly and it forces some fees on you like Security Deposit. IMHO Pretty lame calculator.
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Replying to: fordsporttrac (Mar 30, 2008 4:54 pm) Honda Civic LX, 24 Month Lease One Payment $6300, Threw my trade at them at the very last second and got $800 for a 95 Civic Clunker with bad everything. Add the fees and tax back in and the final total cost was 5707.50. Thats all I pay'd and I'm done for 24 months. So $237.81 per month. My goal was $5400 but $5707 was close enough. Their inital lease offer was $7900, then $7100, then $6300. They tried to bait and switch me from a 24 month lease to a 36 month lease after all the paperwork was done saying Honda didn't offer a 24 month one payment lease. I walked. About 30 minutes later they called me back saying it was all a mistake. LOL Yea right. I was already on my way to another dealership but the next dealership is a 35 minute drive and I figured better to stay close. So I went back and made the deal. |
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Just leased a Civic EX for the following: Sticker $20175 0 down/sign and drive 273.99/month for 36 months Residual $12300 (rounded) The dealer apparently paid the tax, title and 1st month payment as I only owe 35 payments. Was this a decent deal? By the way the dealer said the MF was .00128, is this right? Thanks for your comments |
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I think we both could have done better. Your saying what the Sticker price is but not what you paid for the car. So I'll have to reverse the thinking and it seems lke your paying 18175 for the vehicle, using a cap cost reduction of 1205 from the LX offer and a MF you specified of .00128 and a residual of 12300 or 61% it looks like your at ~$4670 Depreciation, finance charges of $1350 and assuming a 6% sales tax of $433. Your right around what I got and I know I could have done better but I also don't think I was royaly screwed. After reviewing my lease I see I didn't do great. I could have easily gotten the 5400 price I mentioned above (and they addmited that to me today) but they wore me down after 5 hours. I probably could have done better than 5400 if I was a good negotiator. I also realize now that I probably could have leased an EX vs the LX for nearly the same price. I'm guessing the residuals on a 24 month lease is between 68-72 percent. Depending on the model. The 36 month lease seem to be 61% To properly estimate a good lease price you need the REAL Invoice price, (I suspect Edmunds is not accurate) The true residual price (not sure where to get that from) and the MF. Don't use Edmunds lease calculator cuz it calculates incorrectly. Try this one http://www.leaseguide.com/calc.htm |
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Car Man, Do you have the April money factors and residuals from Honda for a Honda Civic EX Sedan (w/o leather or nav)? Thanks in advance.
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