Year: 2018
Make, Model, and Trim: Honda civic SI
Months/Annual Mileage: 36 15000
Zip Code: 60160
hello fellow hackrs, I created an account this morning because I want to lease a Honda civic, and was wondering if I could get some input on what would be a good deal. I appreciate everyones time. thank you
If recommend searching the forum to see what others have paid for a Civic. That being said, it doesn’t lease very well and other cars offer a lot more for the money. If you’re set on one, ask on the Edmunds forums to get the RV and MF
I disagree.
Civic SI has had a great promotion running for last few months on lease deal. I have been working on numbers and it looks if you can find a dealer looking to sell around invoice not even getting into holdback you should be able to be under 1% msrp of $24,995. It looks like $230 or $240 a month before tax should be possible. I see a couple dealers already offering $2K off online without any negotiation which is a great start. The problem is there is not a lot of inventory for SI’s is what I have found.
Here is current advertised deal on SI sedan from honda website.
"$229
Per month for 36 months.
$2,199 total due at signing.
Includes down payment with no security deposit. Excludes taxes, title and either dealer fees or documentary service fee. For well-qualified lessees.
Closed end lease for 2018 Civic Si Sedan 6 Speed Manual (FC1E5JJW) available from May 1, 2018 through July 5, 2018, to well-qualified lessees approved by Honda Financial Services. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $24,995.00 (includes destination, excludes tax, license, title, registration, documentation fees, options, insurance and the like). Actual net capitalized cost $21,616.65. Net capitalized cost includes $595 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Total monthly payments $8,244.00. Option to purchase at lease end $14,747.05. Must take new retail delivery on vehicle from dealer stock by July 5, 2018. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year for vehicles with MSRP less than $30,000, and 20¢/mile over 12,000 miles/year for vehicles with MSRP of $30,000 or more. See your Honda dealer for complete details."
This deal is advertised with the dealer already giving you $1800 off list. The thing is according to edmunds and other websites invoice is about $23,400 or only $1500 below MSRP a 6% markup which is inline with a lower priced Honda. There has to be some secret hidden trunk money or dealer spiffs for them to be advertising this.
$1600 of the $2,195 down payment goes to additional cap cost reduction. The other $595 is acquisition fee. You should be able to get a dealer down another $1600 I would think. That is the full dealer hold back and maybe more but like I said there is something that doest add up on the deal and I have believe there is another incentive running in the background. And again the dealers around here online are already offering $2000 or so off sticker online so something else is afoot.
Your request for 15K miles will drop RV 2% but that is only $500 on a $24,995 sticker car adding only $13.89 per month in payment plus the small MF juice.
I think $250-260/month before tax is possible for 36/15k with just the $595 acquisition fee. Send out a bunch of quote requests starting today to a bunch of dealers with inventory in stock. Check every dealer in a state or 2 around you. It takes an hour or 2 but is well worth it. Make sure they have the vehicle in stock. If they don’t have it in stock don’t bother with them. Don’t ask them for lease quotes. Say you are looking for the best out the door price. If you are going out of state ask them to not include tax(skews #).
Take the best 2/3 quotes and pit them back and forth against themselves. You have a great time of month to do this plus the lease incentive runs through 7/5 but most dealers will want to close a deal by Saturday 6/30.
Sounds OK for the mileage allowed. I got a Civic EX-T sedan for $260 (tax included) in NYC. All I had to pay was DMV+tire+first payment (around $850 all together). But that was for 36/30k. I was also a returning Honda customer.
From a quick check on Edmunds The residual value is 2% lower on the coupe than the sedan. Their is lease cash which offsets this difference. $1400 lease cash on sedan and $2000 on SI. That leaves $100 difference in total deprecation between the 2.
Typical Honda residuals at close to 60% in 36 months. Coupe was 36/12 at 57%. Sedan was 35/12 at 60%. From what it sounds like Honda will only do 10K leases in certain high density areas like NYC.
Money factor was .00105. Honda used not to allow dealers to mark this up either. I am not sure if this still is the case.
It sounded like these were national numbers but never hurts to double check.
