Came back from the dealership a few days ago; and was offered 24.1K $ on the EX trim 2017 with 400$ (after taxes) a month.
Was able to bring it down to 20.1$K prior taxes (21.4K$ after taxes) and 270$ (after taxes) a month, 36 months at 12K miles annually and only 370$ out of pocket the day of signing. Is this a good deal, should I take it?
I am currently convinced that I will be able to get 260$ (after taxes) a month at 36 months with 15K miles annually? Should I fight this above? Could I go lower?
Also what is the current MF and RV of the Honda Civic Sedan EX trim 2017 both at 36 month/12K and 36 month/.15K miles?
I was erroneous… according to the caculator, with a current residual of around 60% and the MF being .00100 (the numbers I believe the dealership are working with); I could lease the vehicle with 260$ after taxes with a selling price of 19.3k$ prior taxes.
Should I fight with them on the MF too or leave it alone; honestly what I listed above I am completely content with but any more suggestions or extraneous advice would be appreciated.
Do you have issues with your credit? As posted above, the MF should be .0008 not .001. I know some people who don’t like confrontation who would rather pay the extra, than bring up the MF issue, if thats the case and you’re OK with the payment just pull the trigger. It looks like the MF difference only changes the payment by around $7 per month.
The numbers I’m getting are slightly different, but there are some things I don’t know about (down payment, acquisition fees, documentation fees, licenses, how whatever state you’re in charges tax on a lease, etc).
With a 60% RV and the .001 MF you posted, I’m getting the same car (same 6% discount) for $239.06 and the .0008 MF for $232.36 per month.
What state do you live in and what is your tax rate?
You keep stating selling price “after tax” and monthly payment “after tax”…which is it? Never heard of a state that taxes the vehicle price AND the monthly payment.
I live in Charlotte, NC… tax rate is 7.25%. My credit is appalling, however, my Dad is cosigning with me and his credit is stellar, high 700’s/low 800’s.
I am going back tomorrow… what should I fight for? I really need 45,000 @ 36 months rather than 12k, I am cognizant this affects the residual.
Selling price after taxes: 20699$ (Charlotte,NC tax rate 7.25%)
MF: .0010 (Should I fight to get them to .0008 I am pretty confident that this .00100 is the MF they are utilizing)
Residual: 62% (Or is it 60%) Honda Civic Sedan EX 2017
Miles: 15k (Currently they are offering 12k but I need those additional 9000 miles)
Out of Pocket: 350 - 370$ (this includes first month’s payment)
Monthly Payment: 260$
What do you think?
Dad is cosigning with me and has excellent credit.
You still didn’t answer @max_g about the taxes. It doesn’t make sense why you would talk about a sales price after taxes and then tax the monthly payment as well. It’s usually one or the other.
What is the after tax price. You are taxed on the lease payment, not the total price of the car. What is the purchase price they are giving you?
The money factor difference is about $10/month.
A dealer near me is advertising $0 down and $158/month on an LX Civic. If you extrapolate that it’s about a 17% discount off of MSRP. I personally want an EX Hatch and I’d use that as a baseline. http://www.grossingerhonda.com/
I had no idea… well it appears that it’s the sell price thats taxed. At the dealership I was told with my current offer that it would 20163 and then 21400 after taxes…
I only deal via email until I get the offer I want and it has to be in a form of an offer letter. Going to the dealer is a con game. Even after an offer letter they can play games, but I don’t sign anything until the contract matches 100%.
I really appreciate the warning… so I am still going back tomorrow. I am now going to demand for 12% to 10% of MSRP; and now that I know that only the payment is taxed then I will fight on that count too.
Thanks I am going to carry my metaphorical weapons and helmet… going to the battlefield, this is war.