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Honda Civic Lease Questions

832 messages,  Last post on Dec 03, 2009 at 10:20 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

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


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#61 of 832
Re: lease vs. purchase. [Car_man] by gaucho20
Nov 08, 2005 (6:09 pm)
Reply

Replying to: Car_man (Nov 08, 2005 3:21 am)

Hi CarMan-
 
This thread is quite informative! Can you help me out? I am looking at a 2006 Civic LX in San Francisco. I was quoted for a 36 month lease, 36000 miles, $1000 down, and $250 a month. Is this in line with the standard? Is this more appropriate for an EX? Should I get rid of the down payment?
 
Thanks!
 
Justin
#62 of 832
Need Residuals and Money factors for 06 Civic LX coupe by sigma521
Nov 22, 2005 (6:56 am)
Reply
Hello Car-Man,
 
I'm in the market for a 2006 Honda Civic LX. I want to lease for 36 or 42 months. I had a couple of questions for you:
1. Can i get more than 15,000 miles per year on a lease? (20-25k?) I drive 100miles each day.
2. Is there a difference in residuals and/or money factors between manual and automatic transmission models?
3. What are the residuals for Coupe, versus Sedan.
 
Thank you...
 
Sergey Dubin
#63 of 832
Re: lease vs. purchase. [gaucho20] by Car_man HOST
Nov 23, 2005 (4:36 am)
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Replying to: gaucho20 (Nov 08, 2005 6:09 pm)

I'm glad that you find this thread to be so informative, Justin. I am not sure exactly how much others are paying for this car right now, lease payment wise, but I would be happy to give you my opinion on your deal if you let me know this car's full MSRP and selling price. These numbers will show me how much of a discount you are being given and will enable me to use Honda Finance's actual lease program to estimate what your lease payment should be. You absolutely should lease this car without making any sort of down payment. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Civic would be exactly the same, regardless of whether you had put $1,000 down, or had made absolutely no down payment at all.
 
Car_man
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#64 of 832
Re: Need Residuals and Money factors for 06 Civic LX coupe [sigma521] by Car_man HOST
Nov 23, 2005 (4:40 am)
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Replying to: sigma521 (Nov 22, 2005 6:56 am)

Hello Sergey. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. Having said this, you can lease a Honda vehicle with more than 15,000 miles per year. In order to do so you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.
 
There is no difference between the lease programs for Honda Civics equipped with manual or automatic transmissions. If you were to lease a 2006 Honda Civic LX Sedan through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 59%, respectively. The numbers for an otherwise identical lease of a 2006 Civic Coupe LX would be .00265 and 58%.
 
Car_man
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#65 of 832
credit scores and money factors by krc
Dec 06, 2005 (8:26 pm)
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How does your credit score affect the money factor? Could you give me residual values and money factors for a 2005 Civic coupe? My FICO score is between 600 and 650.
#66 of 832
Is this reasonable? by mamamia2
Dec 07, 2005 (3:41 pm)
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For an '06 Civic LX 4Dr.
 
36 Month lease, 12K miles/year, No money down.
 
And I have an excellent credit score of 780.
 
Price is "out the door" -- paying just the first payment and plates.
 
The best offer I got so far was $ 289 a month.
 
...And I am asking, is this really the best I can get these days? Even though I know those cars are selling like fresh donuts... Still, to me it seems high.
#67 of 832
Re: Is this reasonable? [mamamia2] by roosa
Dec 09, 2005 (5:46 am)
Reply

Replying to: mamamia2 (Dec 07, 2005 3:41 pm)

It does seem high...but higher interest rates and selling price of the Civic makes it about right on target....I leased a 05 Accord in August under the same terms for $284.75 a month. CarMan mentioned this in a post...either here or in the Accord section. If it is any consolation, our Accord lease in 1996 was Higher....so interest rates DO matter....we have driven the Civic and like it, but the current lease on the Accord LX-SE is the only one with lease support, and very little btw, that American Honda Finance offers right now....the truth is...even at $289 it is a fine car....go ahead and splurge if you want it...Happy Holidays
#68 of 832
Re: Is this reasonable? [roosa] by xxcivicxx
Dec 09, 2005 (11:18 am)
Reply

Replying to: roosa (Dec 09, 2005 5:46 am)

Anyone interested in a Civic, I want to tell you that you can do a lot better than $289, which is more like how much you should be paying for an Accord... I know this for two reasons:
 
1. Honda just posted record sales for November, and despite the claims that there are shortages or whatever, the Civics are everywhere, and ANY dealer should be able to find one for you (even if you have to wait a week or so).
 
2. I got my Civic LX Coupe for ZERO down, $225/month. If you're interested in my exact strategy that I used when negotiating (because it did take some effort, feel free to email me).. the "lowest" dealers initially agreed to go was $269, but that changed pretty quickly.
 
I'm sharing this because I want those who are on a tight budget like myself to know they can still get into this great car. And remember, since this car has such a amazing retention value, IT SHOULD LEASE FOR LESS! The dealerships will profit when they sell it as a certified used vehicle!
 
I can post a longer explanation, including some specific numbers, but I think this is long enough for now..
#69 of 832
Re: Is this reasonable? [xxcivicxx] by mamamia2
Dec 09, 2005 (1:47 pm)
Reply

Replying to: xxcivicxx (Dec 09, 2005 11:18 am)

xxcivicxx:
 
Well, I'd like to email you but there is no address available in your "member profile"...
 
If you get an '06 for that monthly payment of $225 -- OUT THE DOOR (first payment, doc fee and plates are always extra), with ZERO DOWN and if it INCLUDES the taxes... Boy, $225 really seems just too good to be true.
 
This morning I actually decided to go with a local LEASING COMPANY, ordering the car for me today (simply asking my verbal agreement, no down payment required), for end of January delivery FOR $249 A MONTH.
 
And when I told that to the dealer who was the cheapest around ($289), his reaction was almost embarassing... He would not believe me...
 
So please, xxcivicxx, share with us the secret.
#70 of 832
civic discounts? by azrob
Dec 09, 2005 (4:31 pm)
Reply
After a model has been around does honda start to discount? I'm going to sell my bmw 330cic and i want to replace it with a less expensive car, but I'm in no hurry, so I'm wandering if typically after several months the deals on the civic will get better

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