Hello,
I am about to lease a 2016 Honda Civic Coupe EX-T in Maryland. Wondering if this is the best I can do?
MSRP 23135 (including destination)
Selling Price $20556
Tax 6% of selling price
Residual 57% (unconfirmed)
Money Factor.00048 (unconfirmed)
Dealer Cash $500 (unconfirmed)
So far I have received the following offers for a 3 year 12000 miles per year lease:
0 down/$318 per month
$1000/297 per month
Thanks for the assistance.
Regards.
Those are so-so offers (not great). You really don’t want to do a downpayment, read up on MSDs. Between the 2 offers you have, the one with the downpayment is worse than the one without (usually a downpayment should help, not hurt)
$0 / 36 = $0 + $318 = $318/mo
$1000 / 36 = $27.78/mo + $297 = $324.78/mo “effectively”
You seem to have gotten an OK discount from MSRP (~11%) and based on some of your unconfirmed residual of 57%, the math for the depreciation portion should be
$23,135 x 57% = $13,187
$20,556 - $13,187 = $7,369 / 36 = $204.70
So your interest and tax somehow added $113/mo to your payment. With the 0.00048 MF, that is not even possible …
Thanks chrisgo! Looks like I got more work to do. I will update the forum when I have more information.