Financing your CTR...Lease, Buy??

[Mick the Quick]

I love when they find out im an accountant. The bs stops pretty quick. Numbers is my game

*Lawyer* works pretty well, too. lol

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[BABear70]

A tip: when you go to the dealer, be sure to have installed your favorite lease/loan calculator app on your smartphone. It's so easy to double check the dealers' numbers real-time (I have found errors on multiple occasions in their numbers), and to play around with different scenarios. There are a number of them, but my favorite is Leasematic - you can use it for both leasing and loan.

I have to say that after 15 years in the car business I've yet to find a lease calculator that accurately depicts the same numbers as the dealer does.

And I have leased cars for many years and worked there for the last 7 years...

Leasing is tricky and hard to trust... This is why we are here...

BA

 

[Mick the Quick]

I have to say that after 15 years in the car business I've yet to find a lease calculator that accurately depicts the same numbers as the dealer does.

And I have leased cars for many years and worked there for the last 7 years...

Leasing is tricky and hard to trust... This is why we are here...

BA

I am not going to argue with you, but you can even calculate these numbers by hand, and get it right each time. Even easier with Excel or an app.

There are really no variables, because the MSRP, the residual and money factor are already set by Honda. Down payment, trade (positive or negative equity), rolling fees into the lease, so on, are easy to figure out.

FWIW, with the last 3 Honda leases, the app I mentioned calculated the monthly payments down to the nearest penny or two or three.

 

[Andruboine]

Still waiting on MSRP etc. my dealer "preapproved" me, but I have no idea for what and at what rate.

I’m really interested in the interest rates for the type r and if they give the same incentives as other civics.

 

[BoostSeason]

Leased mine a few months back. 0 down, 15k a year for $582 including tax tags and titles on a 36moth. 800 credit score. Also, have a friend who leased with 0 down and he's at $600. Dealers will quote you around $520 with 0 down, but those are not out the door. Hopefully, this gives insight to those investigating leases.

 

[TROOPTYPE-R]

Leased mine a few months back. 0 down, 15k a year for $582 including tax tags and titles on a 36moth. 800 credit score. Also, have a friend who leased with 0 down and he's at $600. Dealers will quote you around $520 with 0 down, but those are not out the door. Hopefully, this gives insight to those investigating leases.

what's your buyout at the end of your lease listed as?

 

[BoostSeason]

what's your buyout at the end of your lease listed as?

20,000

 

[slowride]

I’m really interested in the interest rates for the type r and if they give the same incentives as other civics.

Check on the Edmund's forums for current rates, but they don't give any deals on the Type-R via lease or finance.

 

[Mick the Quick]

Leased mine a few months back. 0 down, 15k a year for $582 including tax tags and titles on a 36moth. 800 credit score. Also, have a friend who leased with 0 down and he's at $600. Dealers will quote you around $520 with 0 down, but those are not out the door. Hopefully, this gives insight to those investigating leases.

If you don’t mind me asking, what kind of residual is Honda giving on CTR for 36/15K nowadays? Money factor?

 

[BoostSeason]

If you don’t mind me asking, what kind of residual is Honda giving on CTR for 36/15K nowadays? Money factor?

The residual was 20k on mine after lease

 

[jinderC]

Bought mine outright, paid in full.
I hate car loans, financing or leases

 

[zroger73]

Bought mine outright, paid in full.
I hate car loans, financing or leases

Cash transactions are SO simple and quick - I'm in and out in 15 minutes or less.

 

[WindJunkie]

Cash transactions are quick, but if you come in ahead of time with your loan lined up, it can be very quick as well. My credit union approved my car loan at 3.75% up to $27,000. They emailed me a draft check that could be signed over to any car dealer for up to $27k. After my trade in I owed $24k, so that's what I wrote the check out to the dealer for. The longest part of the whole transaction was getting the car maneuvered off the showroom floor. Point is - if you have a loan lined up with a draft check, the buying process can be very quick. If you are financing through the dealer, their finance department has to get way more involved, and it takes longer.

 

[kpun]

I don't understand why some of you are so against financing. With interest rates being so low, more likely than not, investing yields a higher return than the interest of the loan.

 

[slowride]

I don't understand why some of you are so against financing. With interest rates being so low, more likely than not, investing yields a higher return than the interest of the loan.

This is where I always go because I don't want to burn the disposable cash I have. When my money isn't doing anything, I keep it in a 2.2% savings just to tick some interest when I don't have it invested...but I just can't stomach taking $37,000 of it and just dropping it on a car.

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