2016 CIVIC REAL LIFE LEASING INFORMATION AND TEST DRIVE INFORMATION

futurehendrix

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THIS IS ONE OF THE SEXIEST CARS I'VE EVER SEEN!!!!!!!

Soooo, today my wife and I went to one of the top Honda dealerships in our area (Honda of Tyson's Corner) and got extremely intimate w/ the 16' Civic. Upon arrival, I had a MSM EX w/ Sensing waiting outside the door with my name literally on it! We were given a full tour of the car- roughly 20 minutes and then our salesman said, "ok- see you guys in an hour!" We were free to take the car wherever, so we toured for a while down Leesburg Pike (7) and then got on I-495N towards MD and cruised up 270N before turning back and heading to the dealership. First impressions:

(The car is for my wife, will be her weekend vehicle as she takes Metro to work everyday)

1. Wife driving, but feedback of the driver experience is that it is incredibly smooth!
2. Passenger seat, extremely comfortable! I'm 6'1" and felt extremely comfy!!!!
3. Also sat in the rear seats and again, extremely comfortable!!!!!
4. Sound system completely blew me away, does not require you to crank it up like previous Honda models I've been in!

Anywho- we went back inside to discuss numbers and was brought out their "generic" worksheet, which I was told had Honda's money factor and residual value built in. I had the residual value sheet with me on my iPad (16' Civic Lease sheet) and they indeed had the same 65% residual value based off of 39 months and 12k miles per year. The money factor is interesting, we were told that Honda's current standard money factor is 0.00199, which equates to roughly 4.7% APR!! In a way this is VERY HIGH! Look at the attached sheets, you'll see that w/ $0 money down, the EX w/ Sensing is $338 a month!

To make a long story short, we got all of the information and are currently deciding on Lease vs Buy, because the payments would be roughly the same and value of the car is going to be the same also because it wont be driven a lot. I bought a 15' Camry XSE black on black back in the summer so we're more so looking to lease vs buy, but with a higher money factor like this it opens our eyes to other options. This is the standard money factor they are offering, so there is currently nothing lower available- at least thats why their Honda finance guy said.

Another note, we also test drove the EX-L 1.5L Turbo and that is the model we will be getting. The turbo engine is flat out amazing! Also, the leather seats...wow....yesss, get the EX-L if you are seeking ultimate comfort!!! It's more pricey though, but not by a lot..it'd be like $10 more per month on the lease side of things.

Lease Info:
Honda Civic 10th gen 2016 CIVIC REAL LIFE LEASING INFORMATION AND TEST DRIVE INFORMATION {filename}
Honda Civic 10th gen 2016 CIVIC REAL LIFE LEASING INFORMATION AND TEST DRIVE INFORMATION 3a8e2a69-0b3f-4418-a337-be579f2d2294_zpsq8wcfihe


MSM EX w/ Sensing
Honda Civic 10th gen 2016 CIVIC REAL LIFE LEASING INFORMATION AND TEST DRIVE INFORMATION 1121151111_zpsclimqfpt


Interior Shot
Honda Civic 10th gen 2016 CIVIC REAL LIFE LEASING INFORMATION AND TEST DRIVE INFORMATION 1121151124_HDR_zpsrzyuml9f


Black EX-L
Honda Civic 10th gen 2016 CIVIC REAL LIFE LEASING INFORMATION AND TEST DRIVE INFORMATION 1121151356a_zpsrikmtyyf


Honda Civic 10th gen 2016 CIVIC REAL LIFE LEASING INFORMATION AND TEST DRIVE INFORMATION 1121151356_zps4wqbkbn1
 

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civvie

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Great lease info thanks. That .00119 money factor is pretty high but leasing could still easily make sense for anyone who can take a business deduction on the lease payments.
 

josby

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The money factor is interesting, we were told that Honda's current standard money factor is 0.00199, which equates to roughly 4.7% APR!! In a way this is VERY HIGH! Look at the attached sheets, you'll see that w/ $0 money down, the EX w/ Sensing is $338 a month!
Oof, that sucks! I was assuming the same .000375 money factor I got on my Accord. That bumps my calculated lease payment from $210/month to $277/month. I definitely can't swallow paying an extra $67/month in just interest. I wonder whenever they offer .9%APR/.000375 money factor on the LX's, if that will be available on all trim levels.
 


CdnColin

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My lease rate wih Honda Canada will be 1.9%.
 

HondaXmsm

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I am still deciding between the EX and the EX-T. I have received some lease quotes for $250 a month on the EX and $275 on the EX-T with 1st payment and fees (approximately $500). Not sure if $25 a month more is worth it or not yet. I have not driven either yet though.

I currently have 6 months left on the lease on my 2013 Civic EX. My miles are super low and only around 15K for the 3 year lease. Trying to contact dealers to see how I can end this lease or have the dealer buy it out. Not sure how this might affect my payment. Today though one of the dealers I have been emailing said there was some kind of Lease Pull ahead program. Anyone else hear of this or have any advice on my current situation with my 2013 Civic?
 
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futurehendrix

futurehendrix

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I am still deciding between the EX and the EX-T. I have received some lease quotes for $250 a month on the EX and $275 on the EX-T with 1st payment and fees (approximately $500). Not sure if $25 a month more is worth it or not yet. I have not driven either yet though.

I currently have 6 months left on the lease on my 2013 Civic EX. My miles are super low and only around 15K for the 3 year lease. Trying to contact dealers to see how I can end this lease or have the dealer buy it out. Not sure how this might affect my payment. Today though one of the dealers I have been emailing said there was some kind of Lease Pull ahead program. Anyone else hear of this or have any advice on my current situation with my 2013 Civic?
Wow, $250 seriously?? That's a crazy good deal, but then again it was a month ago when we looked at them so maybe the money factors are better? I would say if you're already paying at least $250, go with the EX or in our case, were going with the EX-L. Yes w/ EX you get most of the same features, but the 1.5L turbo and Leather seats are really untouchable compared to the EX. If you don't care about those then yeah, the EX is also a great model.

We're kind of switching over to the thought of financing vs. leasing, because the car has great value and Honda will most likely keep this look for the next 4-5 years (we would finance for 5). I'm curious to know what dealership gave you your lease quotes, because I see you're in PA and I'm only in VA (the drive would be worth it for that kind of pricing).
 

HondaXmsm

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So in my current situation I would have my lease payment increase by $45 per month to get rid of my 2013 Civic 6 months early. I have no reason to get rid of my Civic except for whats so much to like on the 2016's. I was told that once I get down to 3 or 4 months left that Honda Financial's Lease Maturity center will contact me to talk about my plans to purchase, finance, extend my lease for up to one year, or possibly pull ahead and end my lease early to get a new Honda Lease.
 

josby

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With just six months left, I would think your lease payoff amount at this point would be about the same as the private party value. Have you considered buying it then selling it to potentially get out of it for $0? That would depend on on whether your state will make you pay sales tax on it again if you buy it or not, though.
 


RedTouringMA

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Just food for thought, the more money you put down, the better the money factor gets
 

civicryan

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I agree. If you are on the fence, don't take it for a test drive. It will haunt you until you buy it.
haha.... that's where i'm at. :)




..

Thanks for the info. Possibly the lease factor will be a little lower once honda starts throwing in some lease specials. ... I love that Black EX L.
 

RedTouringMA

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haha.... that's where i'm at. :)
..

Thanks for the info. Possibly the lease factor will be a little lower once honda starts throwing in some lease specials. ... I love that Black EX L.
Generally Honda doesnt start throwing in any specials until the car has been out for a while. They just released this at a bad time of year, in November everyone is worrying about Christmas shopping.
So I got myself a Red Touring and they even put a bow on it LOL
Merry Christmas to meeeeeeeee :)
 

civicryan

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So in my current situation I would have my lease payment increase by $45 per month to get rid of my 2013 Civic 6 months early. I have no reason to get rid of my Civic except for whats so much to like on the 2016's. I was told that once I get down to 3 or 4 months left that Honda Financial's Lease Maturity center will contact me to talk about my plans to purchase, finance, extend my lease for up to one year, or possibly pull ahead and end my lease early to get a new Honda Lease.
I'm in a similar boat with my lease on my 2013 Fusion ending in 7 months. Our logical side says to just wait til the lease is up to buy the new car. but we have that itch to make a move on the new 16 civic. LOL
 

civicryan

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Generally Honda doesnt start throwing in any specials until the car has been out for a while. They just released this at a bad time of year, in November everyone is worrying about Christmas shopping.
So I got myself a Red Touring and they even put a bow on it LOL
Merry Christmas to meeeeeeeee :)
I hear ya... Congratz on your new Civic! :)
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