I was first looking at leasing a Hyundai Sonata SE for $287/month with $0 DAS.
Since that one has limited features, I have moved to picking up either a Honda Civic EX or Hyundai Elantra SEL. I have a hard time selecting which one to go with in terms of leasing for 36 month / 12k miles.
Any help would be appreciated.
2021 Honda Civic EX - $288/month with $288 DAS. 12K miles / 36 months
MSRP: $25,155
Discount: $3,235
Selling price: $21,920
Residual: $15,345
MF - 0.000790
2021 Hyundai Elantra SEL - $284/month with $284 DAS. 12K miles / 36 months.
MSRP: $23,000
Discount: $3,192
Selling Price: $19,808
Residual: $11,059
MF - 0.001360
I don’t know much about cars or leasing, so any help would be appreciated. Thanks.
I liked civic better in terms of driving, but overall they both were pretty good. What I’m confused about is which would be better if lets say I decide to buy the car at the end of the lease and also in terms of resale value.
Can you update your post, for each, with the MSRP, Selling Price, and any incentives?
Also, have a calculator for each of them and that way you can have an apples-to-apples comparison view of the deals (including TCO).
I updated it. I’m looking up on RODO unfortunately they don’t show complete details of the taxes and all so I tried the best I can to be as accurate as possible.
That’s the civic, 100%. But even if you’re looking to buy out your car after your lease there is probably the same exact car for cheaper on sale and you could negotiate that price down for that other car to be even cheaper.
This is due to the buyout price at your end of the lease being set when you sign the papers today. And the buyout price is typically higher than it would be for the same car at that time but used. But YMMY op, good luck!
On RODO you have to click on the car and then click “review my order”. It will give you a break down. Did you verify numbers- mf, incentives etc. your calculator for the Elantra looks way off but the monthly is right. These numbers in the pic are for south Florida so disregard but just showing you where to find them.
As others have said, double-check your MF, RV and incentives with Edmunds.
Personal preference, I’d go for the Civic. Obviously the RV shows better for the Civic at the end and you’ll pay less in rent charge, but who knows where the market will be in 3 years
With the costs being so similar I think it comes down to your personal preferences.
I personally would also go with the 2021 Civic because I absolutely dislike the 2022 Civic (from what has been announced so far). This is a good chance to drive one of the nicer generations of Civic’s for another 3 more years.
Hyundai’s on the other hand seem to be making better and nicer cars, so it’s probably fine to hold off and lease it down the road.
In terms of resale value, the Civic is probably going to hold its value pretty well. I personally predict the RV of the 2021 model will maintain or even increase with the 2022 model. Just my 2 cents.
Given the semiauto driving capabilities that Hyundai has these days, if I was looking for one of these as a commuter, there’d be no contest. Sonata without a doubt.
If You are on a limited budget check the insurance cost for both. For some reason Honda Civic is much more expensive to insure than Mercedes Benz GLC300 ( at least in my area)
Insurance costs on vehicles look at how much they have to pay out on that specific model as one input. This essentially tells you that civic owners crash into a lot more things than GLC owners.
