Year, Make, Model, and Trim: 2020 Honda Civic Sport Sedan CVT
MSRP: $23,550
Selling Price: $19,125 (18.8% off incl $500 Honda dealer cash+$1000 loyalty, 12.4% off w/o it)
Monthly Payment: $188 ($200 with 6% MI Tax)
Drive-Off Amount: $200
Months: 36
Annual Mileage: 12k
MF: .00083
Residual: 61%
Incentives: $1000 Honda loyalty, $500 direct to dealer cash according to Edmunds included in SP and non-taxable
Extras: Battery for my S2000 at dealer cost, which is a $60 savings
Region: Midwest (MI)
Leasehackr Score: 10.2
Leasehackr Calculator Link: CALCULATOR | LEASEHACKR
The $500 incentive that Edmunds reported to me and the $1000 loyalty are both direct to dealer incentives, so they go into the selling price (agreed upon value of vehicle). Honda is weird, but welcome to bizarro world where a Civic is one of very few cars leasing well that isn’t a…V8 Camaro
My wife wanted a Civic Sport and she insisted on Aegean Blue, which significantly reduced my inventory pool to pick from. 2020’s have a tasty $1k loyalty incentive, $100 additional dealer cash, MF is virtually the same and RV is only 1% lower than 2021. Plus I suspect lease support will end this month. My initial target that I sent out to dealers was $185/mo with first payment DAS based on my inputs and some past Civic selling price data points here and on CivicX, but I came to realize that I was being overly aggressive and ~15% discounts exclusive of incentives are just not likely to happen on lower trim Civics (and/or some people report BS numbers without including incentives). So I upped my target to $200/mo which is a nice easy round number and works out to a 12.4% discount minus dealer $500 cash minus $1k incentive for 18.8% total.
After several days of being dealersplained why this deal was impossible to do by every dealer in my region and that no Honda dealer would ever do it, I finally got agreement from the dealer where my wife and I test drove the car to begin with. I guess we had established some rapport with them when we visited and I had been texting back and forth with the ISM for a few days, she was very professional and easy to work with. One very persuasive closing text from me got it done.
I got the sales guy we worked with to agree to order a battery for my S2K at dealer cost, so that’s another ~$60 savings ‘post sale rebate’
Edit here’s some pics. We have 4 Hondas in the driveway/garage now