2019 Honda Civic EX - ($291/month) at 36/15k

Ask the Hackrs
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Lease two Ioniqs? Even with an extension cord and 110v you could theoretically make it work and save a bunch!

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Technically make sense :slight_smile:

Insurance?

Property tax? atleast here in MA

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for BMW loaner
https://cpo.bmwusa.com
Example X1 for $29052, 4443 mileage, possible $3000 incentives. (by region)
https://cpo.bmwusa.com/used/2019-BMW-x1-sdrive28i-WBXHU7C57K5L09822?zip=60007

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The quote is pretty straight forward. I don’t think you can improve it significantly much. I don’t see any fluff fees.
One thing to do is to ask dealerships around to beat this quote. They might come back by $10 less per month.

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Does the Civic EX actually have all of these or did the bar get raised?

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I always thought that the EX-L trim designated leather on Hondas? (“Leather trimmed” to be exact!)

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ex-l trim would.

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I’ve done extensive research on your exact model in the exact same area. You should be getting somewhere between $210-250 for a Civic EX. However, I’m starting to think the Chicago area sucks for leasing because I’m getting numbers around yours and I can’t get any lower

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Can you help us understand how did you arrive to your price range? Just so we know the logic of what’s possible and also to know what prevents that from happening in Chicago. Is it based on possible discount on sales price which you can’t get in Chicago?

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Listen, I get what you’re saying, but throwing away money on a lease that for this particular car, which costs more than depreciation if you owned it, is not a good deal. I’ve owned two Civics and they’re great cars as they barely depreciate at all and people always wanna buy them used, buy them for their kids later, etc. In fact, I was able to drive a $25k civic touring for 3 years/42K miles and still get $16K TRADE IN, would have been over 17K private party (The money I got at trade in was enough to lease a $50K BMW 430i for 3 years afterwards). The model you’re looking at would depreciate less and you’re getting a better deal off the bat, negating much of the first year’s depreciation. 10% rule sounds good but its a guideline. If you end up at $340 (breaking this little guideline by $40), that $40 or more is likely just building equity for you in that vehicle. What I’m saying is that in 3 years, you’re going to owe maybe only $12K on that loan, and that car is going to be worth thousands more than $12K, guaranteed. Your lease, you get nothing back. Consider the $40 like a savings account. Listen to what @Electric and others are trying to say. The $340 loan fits your financial goals better than you think a lease would.

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It doesn’t matter what term you finance for. I had a choice between 60 and 72 months and the interest rate went from 2.24 to 2.44. Any interest rate under 3% (inflation) is bascially “free” money if you understand finance. If you were financing a Mini Cooper for 72 months, yeah thats stupid because the car will depreciate far faster than you’ll pay off principal on such a loan. A civic, you’ll never be underwater and taking a 72 month loan is actually a better deal if you understand the concept of opportunity cost, i.e. taking the money you’d save on a smaller payment and investing it.

Yeah, you could get a loaner BMW but are you prepared to put premium fuel in it, and a set of $1000 runflat tires plus brakes at the end of the 36 month lease? I’m cool with it, but you’re implying your income is $3000 a month so I’m just trying to put that into perspective for you. The Civic with 1.5T WILL get 42 mpg highway on regular fuel, I took mine cross country and it was very cheap. If you’re pinching pennies, your fuel cost would be nearly double for a BMW.

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What would be the money factor and residual value percentage for a 2020 Honda Civic EX Hatchback in South Florida?

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You have to ask Edmunds forums