2014 Honda civic LX price?!

[surfstar]

I don't think you can beat a 2010+ Prius for economical use over the years. They are dead reliable, hold way more cargo than a Civic-sized vehicle and return 45-50mpg. They will also save you in maintenance (no belts for example). Of course the more miles/year you drive, the better they paper out to be. Either way, very practical.

But to go back to the OP - yeah, sounds like the Civic lease price you were given was a bit high. If you still want to go that route, shop around and don't worry about the family and friends discount they were claiming to offer you.

 

[JHZR2]

Originally Posted By: Pop_Rivit

Since leasing isn't considered debt by the Federal Trade Commission, there is no truth in lending statement needed. Therefore the unbelievably high interest rate you'll be paying isn't disclosed to you. However, almost every other venue considers a leased vehicle as debt.


Exactly. It's amazing how many folks get duped. Leasing companies use the term "money factor" so that the interest rate isn't referred to specifically; many think they are paying rent only, but they're paying interest on the money held up in the vehicle's value, but they're duped into thinking that isn't the case...

APR=MF x 2400. For example, if quoted a money factor of .002, the interest rate on that loan would be approximately (.002) x 2,400 = 4.8%

Interest on leases is far worse typically than the rate for financing.

 

[SEBZX79]

Ask for invoice minus 1%, make sure your money factor is (rate you going to pay) is the base rate and not marked up and then make sure there is NO other things like LOJACK, appearance package or other [censored]. Most dealers you will pay a doc fee ( I pay them and I work for a HUGE dealer) If you can accomplish these simple things you will get your self a nice lease price. There is NO MAGIC to this its very simple. If you need any help let me know. srybicki at comcast dot net

 

[SEBZX79]

Originally Posted By: JHZR2

APR=MF x 2400. For example, if quoted a money factor of .002, the interest rate on that loan would be approximately (.002) x 2,400 = 4.8%

Interest on leases is far worse typically than the rate for financing.


That's not necessarily true, most rates on high volume models are subsidized by the manufacturer.
Residual and rate is where you get your payment.

I have a employee Mini lease that had no inception fees MF of 0 and I am paying 263 on a 32k dollar car. This is when leasing works you just have to figure out which one does.