So my dad is good friends with a GM at a Honda dealership and he knew I needed a new car. So we went in today and the quote they gave us (really him) on a lease was $310 a month for 36 months! What?! The way I calculate that, plus the $11,800 for the residual is a wopping $22,960! And this is for a car with an msrp at $18,900. What the heck!? Any suggestions on how I should approach him about this price? He said it was "Employee pricing".. I call bull....
2014 Honda civic LX price?!
- Thread starter lawman1909
- Start date
- Status
I have a coworker that bought a 2013 Civic LX sedan 'out the door' under $20,000 and thats with tax and title. 2014 Civic should be a few hundered more. 2015 are coming out very soon.
Try TrueCar.com for a quote.
Try TrueCar.com for a quote.
Email a few area Honda dealers and see what they'll offer the car at.
My experience has been that some will play and some won't.
Since you don't list any specific location, I have no idea where you actually live, but if you're near my area, I could give you two dealers who will play and offer bottom dollar pricing.
That's how I bought our most recent new Honda.
Honda is still offering cheap financing as well.
Why lease when you can buy?
My experience has been that some will play and some won't.
Since you don't list any specific location, I have no idea where you actually live, but if you're near my area, I could give you two dealers who will play and offer bottom dollar pricing.
That's how I bought our most recent new Honda.
Honda is still offering cheap financing as well.
Why lease when you can buy?
It's more complicated than just doing simple math...selling price plus tax, title and license minus the residual is what the payments are figured on PLUS the lease rate is figured into it (similar to interest rate in a conventional loan). Money isn't free!
Ask what the 'capitalized cost' ( selling price) is and what the 'lease rate' is. Are they requiring any money down? Are they adding in your first payment and security deposit? The less you pay up front the more you pay over the life of the lease/loan.
If leasing it doesn't make sense you can always buy it with a conventional purchase.
Ask what the 'capitalized cost' ( selling price) is and what the 'lease rate' is. Are they requiring any money down? Are they adding in your first payment and security deposit? The less you pay up front the more you pay over the life of the lease/loan.
If leasing it doesn't make sense you can always buy it with a conventional purchase.
Forget the leasing entirely and buy the car you want. I don't know where you're located, but some dealers are advertising the 2014 Civic LX at $17k.
With leasing, there are several reasons.
1. With GAP insurance, which comes free, if I wreck the car, whether my fault or someone elses, I never make another payment on it.
2. I don't believe in debt. I think it makes someone a "slave" to whoever they have a debt too. Plus it isn't yours until you pay off all of it.
3. If I wreck a car I bought out right I would be given the depreciated value from the ins. company, so even off the lot id be losing several thousand dollars.
1. With GAP insurance, which comes free, if I wreck the car, whether my fault or someone elses, I never make another payment on it.
2. I don't believe in debt. I think it makes someone a "slave" to whoever they have a debt too. Plus it isn't yours until you pay off all of it.
3. If I wreck a car I bought out right I would be given the depreciated value from the ins. company, so even off the lot id be losing several thousand dollars.
Personally I would look at one that is 2-3 years old. I don't follow Honda cars so I can't say for certain but odds are they will have the same body styles. Maybe 20-30k miles but you save A LOT on theses cares compared to brand new showroom floor cars.
But hey if I had the money for a new (new) car I would probably buy it just to be the first owner.
But hey if I had the money for a new (new) car I would probably buy it just to be the first owner.
I know most people dont like leasing (i was in the car business and buy my cars because i keep them for many years) but for a large number of people it can make sense.
Take the civic example...lease for $310 x36 months and at the end you flip them the keys and you walk away.
The alternative (and I have no idea about the OP, this is just a generic new car buyer)...typical guy comes in with no money down..buys the $18,900 Civic for $18000 plus 7% sales tax, title and license fees and finances almost $20k for 60 months.
Payments are a little over $400 /month. After 36 months his life situation changes and he needs a new vehicle...but the market for used Civics is [censored] (hypothetical) and on trade he owes more than the car is worth! (Almost guaranteed when trading in a car you bought with no money down part way through a loan)
So the guy who 'bought' his car, paying $100 more a month for 36 months now is upside down and has to finance the difference on his next car...starting off even MORE upside down on the next car. The guy that leased? Turns in his car and gets another one but spent $3600 less over the 3 years.
Like i said, i dont lease, but for many people it can make sense in certain situations.
Take the civic example...lease for $310 x36 months and at the end you flip them the keys and you walk away.
The alternative (and I have no idea about the OP, this is just a generic new car buyer)...typical guy comes in with no money down..buys the $18,900 Civic for $18000 plus 7% sales tax, title and license fees and finances almost $20k for 60 months.
Payments are a little over $400 /month. After 36 months his life situation changes and he needs a new vehicle...but the market for used Civics is [censored] (hypothetical) and on trade he owes more than the car is worth! (Almost guaranteed when trading in a car you bought with no money down part way through a loan)
So the guy who 'bought' his car, paying $100 more a month for 36 months now is upside down and has to finance the difference on his next car...starting off even MORE upside down on the next car. The guy that leased? Turns in his car and gets another one but spent $3600 less over the 3 years.
Like i said, i dont lease, but for many people it can make sense in certain situations.
For $23,000 you can get an Accord LX sedan.
I would buy the Civic and finance through PenFed Credit Union.
Its crazy what people want for a used 2-4 year old Honda, buy new and get a 'new' car for a little extra.
I would buy the Civic and finance through PenFed Credit Union.
Its crazy what people want for a used 2-4 year old Honda, buy new and get a 'new' car for a little extra.
Last edited by a moderator:
Originally Posted By: lawman1909
With leasing, there are several reasons.
2. I don't believe in debt. I think it makes someone a "slave" to whoever they have a debt too. Plus it isn't yours until you pay off all of it.
You're still a "slave" to the lender. You have to fulfill the obligations of the lease, make the payments, and not go over the mileage and keep up on maintenance. You can't just walk away like, say if you rented it from Hertz.
And lease a better car. Hondas are average cars with an above average "aura". Most Honda dealers play off their "reputation" and think their poop don't stink.
With leasing, there are several reasons.
2. I don't believe in debt. I think it makes someone a "slave" to whoever they have a debt too. Plus it isn't yours until you pay off all of it.
You're still a "slave" to the lender. You have to fulfill the obligations of the lease, make the payments, and not go over the mileage and keep up on maintenance. You can't just walk away like, say if you rented it from Hertz.
And lease a better car. Hondas are average cars with an above average "aura". Most Honda dealers play off their "reputation" and think their poop don't stink.
Why so much for a compact car? Why so much for a car that won't lose much value?
Dealer near me is advertising $159/month for 36 on a Civic LX.
Honda itself is advertising a zero down 36 month promotion for an Accord LX for 240 a month.
So yeah, I'd say you can do better. Unless your credit is not good, and then all bets are off. Leases still rely on good credit to be "cheap", just like a normal loan.
Honda itself is advertising a zero down 36 month promotion for an Accord LX for 240 a month.
So yeah, I'd say you can do better. Unless your credit is not good, and then all bets are off. Leases still rely on good credit to be "cheap", just like a normal loan.
Last edited:
You're undertaking debt either way, whether that debt is labeled "lease" or "retail installmennt contract".
You're legally in debt and enslaved either way.
The difference is that when you pay off a car loan, you own the car.
When the lease ends, you own nothing and give the car back, plus cough up cash for whatever problems or excess mileage the dealer says exist in the returned car.
You probably need to think a little harder about personal finance as well as what a new car actually costs.
Not too many cars sell for more than a few grand off sticker.
You're legally in debt and enslaved either way.
The difference is that when you pay off a car loan, you own the car.
When the lease ends, you own nothing and give the car back, plus cough up cash for whatever problems or excess mileage the dealer says exist in the returned car.
You probably need to think a little harder about personal finance as well as what a new car actually costs.
Not too many cars sell for more than a few grand off sticker.
Originally Posted By: Bandito440
Forget the leasing entirely and buy the car you want. I don't know where you're located, but some dealers are advertising the 2014 Civic LX at $17k.
right, a friend of mine last year got 16k on the 13 honda civic lx
Forget the leasing entirely and buy the car you want. I don't know where you're located, but some dealers are advertising the 2014 Civic LX at $17k.
right, a friend of mine last year got 16k on the 13 honda civic lx
If you go to Honda's website, it shows a lease payment of $357/mo on that car.
Knowing nothing about if the terms match up favorably, or anything else, he quoted you something almost $600/year less than someone who walks in off the street would be first offered.
Not saying what you were offered is a good deal. But if it's comparable to what the website suggests, it's better than the online offer.
He may have some latitude to adjust the numbers to make the monthly payment lower at the cost of a higher residual at the end. Who knows what's going one from the little information presented.
Knowing nothing about if the terms match up favorably, or anything else, he quoted you something almost $600/year less than someone who walks in off the street would be first offered.
Not saying what you were offered is a good deal. But if it's comparable to what the website suggests, it's better than the online offer.
He may have some latitude to adjust the numbers to make the monthly payment lower at the cost of a higher residual at the end. Who knows what's going one from the little information presented.
As someone previously said there is more to this then those simple numbers. Most of those special leases take money out of pocket (OP mentioned nothing about money up front). Then there is the money-factor (the interest rate in the lease) and taxes. In PA, there is a 9% tax on leases so a $300 a month lease becomes $327. We need a lot more info to know what the OP is really paying.
ref
ref
This is why I wont lease again. I still feel violated.
Originally Posted By: LT4 Vette
For $23,000 you can get an Accord LX sedan.
I would buy the Civic and finance through PenFed Credit Union.
Its crazy what people want for a used 2-4 year old Honda, buy new and get a 'new' car for a little extra.
I bought a 2010 Accord last year with 33k miles for $14.2k. That's substantial savings. It was also CPO and purchased Honda-Care Extended Warranty for 7 years/120k for an additional $675, and the dealership threw in 3 ATF exchanges.
For $23,000 you can get an Accord LX sedan.
I would buy the Civic and finance through PenFed Credit Union.
Its crazy what people want for a used 2-4 year old Honda, buy new and get a 'new' car for a little extra.
I bought a 2010 Accord last year with 33k miles for $14.2k. That's substantial savings. It was also CPO and purchased Honda-Care Extended Warranty for 7 years/120k for an additional $675, and the dealership threw in 3 ATF exchanges.
- Status
