2017 Honda Civic Coupe EX-L, $1200 + DMV $255/month 36/12

Ask the Hackrs
1

Good evening everyone. I’ve recently decided that leasing would suit my lifestyle and decided to do some research. Prior to finding this awesome website I was reading and watching youtube videos. Through information gleamed from family as well as online I sent the following email to multiple dealers in my area around 6pm tonight:

“Hello. I am interested in a 2017 Civic Coupe EX-L CVT in Modern Steel, black/grey leather interior, 17-inch alloy wheels, 12k/year 36 month lease. I am looking to get the absolute best offer you can give me at this time because I am shopping around. I will not be coming to speak in person until I have chosen the best offer. Thank you.”

From what I’ve seen:

1.MSRP: 24,400
2.Sale Price (using TrueCar): 23,041
3. Acquisition fee: 595
4. Miles per year: 12000
5. Term: 36 months
6. Residual : 56%
7. Money factor: .00060
8. Tax: Not sure, but I am based on Long Island, NY

If this is all correct then my payment (according to the calculator) should be around $273/month, $0 down. So far I’ve received a single e-mail back from a dealer who offered the exact model at:

Taxes and Fees at Start
Total - $1,147 (plus DMV), $255/month for 36 months 12,000 miles/year.

Also worth noting that Honcker has the 2017 Honda Civic EX-L (Sedan, Coupe is not an option for some reason) for $236, $1,262 due at signing for a 36/12.

I plan to try to leverage this and hope to get down to around $220/month, $0 up front. I recently refinanced a student loan and know that my experian score is 787 for whatever that is worth. Thank you to anyone who has any advice or takes the time to read.

Edit: Also sounds like this is within the 1% rule?

$24,400 MSRP * .01% = $244
$244 / 10,000 miles = $.0244/mile * 12,000 miles = $292.8 / month 1% rule
($255/month)(36 months) + $1,147 = $10,327 / 36 months = $286.86 / month actual payment

2

lol wtf that’s a horrible deal for a civic when you could be driving a jag XE for $240.

You’re approaching from a scientific perspective with rules. There are NO rules only the dealer’s rules and he will change them on you. You can only guess at how much the dealer paid on the car and he will NEVER ever lose money on a deal unless it’s for the owner.

The dealer makes profit based on 1. Sales price. 2. MF markup. 3. Fees. That’s visible. Then there’s holdback from the manufacturer (2% of MSRP from Honda), incentives, and secret volume discount.

Go on NADAguides and edmunds tmv. That should be your HIGHEST price. The dealers provide that information and manipulate the data so that it would be on the high side. According to NADAguides your selling price should be MAX $21,769.

You should also hit up autobytel for incentives.

https://forum.leasehackr.com/t/which-sites-do-you-use-to-do-research-updated-07-22-17-library/16434/6

http://www.nadaguides.com/Cars/2017/Honda/Civic-Coupe/EX-L-CVT/Pricing

3

I agree it’s a bad deal, but where can you get an F-Type for $240/month?

4

XE ur right.

5

This isn’t actually that bad of a deal for a Civic EX-L, Honda doesn’t lease very aggressively. Yes there are some better deals out there if you can recreate them, but if you like the car who cares?

1 Like
6

Hey guys. So I received I quote for the 2017 Civic EX-L Coupe of:

189/month, 10000/year for 36 months, $1,184 due at signing (includes 995 down payment, first month and $0 security).

Assuming .15/mile over if I hit 36k miles over the 3 years I would still only pay 247/month versus 287/month with the initial offer.

I am going to email the initial dealer to see if they will beat this offer but otherwise I think I will take it. Does that sound reasonable or am I missing anything important?

7

Why not just change the terms to 12k/year? It should cost you $7/month more.

8

Sorry for being unclear, that was my plan but I was working it out with the offer I was quoted for the sake of comparing exact offers.

9

May I ask which dealer you made that deal? I am looking for exact same car right now.

10

Yeah of course. First offer is Baron Honda Long Island, second is Bronx Honda.

11

Hi guys, I’m looking at a Honda Civic EX-L Sedan (no Honda sensing). They are offering me $300/month all in with $0 due at signing. They’ve provided me with the following information:

1.MSRP: 23,339
2.Sale Price: 21,055.28
3. License plats, registration, doc fee and acquisition fee: $988 total
4. Miles per year: 12000
5. Term: 36 months
6. Residual : 55%
7. Money factor: .00060
8. Taxes: I’m at a bit of a disadvantage leasing in Chicago because I’m taxed twice - sales tax (9.5%) and city use tax (8%)

Does this seem like a good offer? Anything I’m missing?

12

$300/mo for a Civic seems excessive, but part of it is due to that ridiculous Chicago 17.5% lease tax. Work on getting the selling price down and shop multiple dealers. Autobytel shows $1300 lease cash, but it looks like it’s included in your quote (put it all in the calculator and add in the rebate and it comes to $297).

1 Like