2008 Civic Lease Rates
06-Dec-2007, 09:25 AM
#26
Senior Member
Join Date: Sep 2007
Location: Mississauga
Posts: 1,416
I was looking at the Honda.ca website and the 4DR Si can be leased for $337/month, all taxes in for 60 months at 1.5% ALR with 0 down. Well, not really 0 down, because at the bottom of the page it says that you still have to pay $337.00 at delivery.
The only problem I see is that at the end of the 5 years you still have to pay almost 12K on the car. That's why, in my case, I'd rather buy than lease.
The only problem I see is that at the end of the 5 years you still have to pay almost 12K on the car. That's why, in my case, I'd rather buy than lease.
06-Dec-2007, 09:42 AM
#27
Senior Member
Join Date: Aug 2005
Location: Photographer's Corner
Posts: 13,424
the residual value at the end of the term is optional...well thats what sets apart a lease or buy transaction. if you buy at 0 down now @ 3.9% for 60 months, you would pay approx. 15000 more than the lease owner over the term.
the plus side = you will own the car at the end
the -ve side = your cash flow will be down by 250 a month for 60 months
the plus side = you will own the car at the end
the -ve side = your cash flow will be down by 250 a month for 60 months
06-Dec-2007, 10:03 AM
#28
Senior Member
Join Date: Sep 2007
Location: 'Sauga
Posts: 630
there's many positive's to a lease that I won't get into much detail now.. but in this case, especially with the 1.5% it works out really well... $15K "saved" should be more than enough for you to invest in something to buy that vehicle out at the end... or if you switch cars every 4-5 years anyways then who cares, just "walk away" from the lease and get another.. you only paid a small amount per month compared to a finance...
Salman did you call me yesterday after work? my phone was acting weird and I wasn't sure if I missed your call
Salman did you call me yesterday after work? my phone was acting weird and I wasn't sure if I missed your call
06-Dec-2007, 11:21 PM
#31
There's also Admin fee of $388 that the website doesnt show as well as $75.00 for wheels locks.
--- Yes. we're really really busy at my dealer, due to these rates Honda has put out.
It's targeting the US market head on.
With these rates, who the heck will buy FOR , GM or Chrysler ???
--- Yes. we're really really busy at my dealer, due to these rates Honda has put out.
It's targeting the US market head on.
With these rates, who the heck will buy FOR , GM or Chrysler ???
Last edited by Robb; 06-Dec-2007 at 11:26 PM.
06-Dec-2007, 11:24 PM
#32
Of note: It costs the dealers $500 of gross profit to get the 1.5% interest rate from Honda Canada.
So even if they discount $1000, it actually costs the dealer $1500 off the gross profit.
Last edited by Robb; 07-Dec-2007 at 07:45 PM.
07-Dec-2007, 07:17 PM
#34
Junior Member
Join Date: Oct 2007
Location: Woodbridge
Posts: 15
i went to ed to check this deal out, and i must say he's a safe guy told me how everthing would work out with my trade in and everything,all in a timely fashion, if u need a car go shop with ed. thanks for the help ed and i'll let u kno after the new yr.
08-Dec-2007, 01:49 AM
#35
Senior Member
Join Date: Sep 2007
Location: 'Sauga
Posts: 630
what happened? I tried calling ya a few times in the last couple of days.. did you have a chance to talk to your dad? I'm worried the 1.5 rate won't last.. in fact I'll bet that it won't ... by the time you GET your car it may be the new year anyway man... we can lock you in with this rate now bro ... thanks for the compliments!
08-Dec-2007, 08:17 AM
#37
Member
Join Date: Nov 2007
Posts: 33
There's also Admin fee of $388 that the website doesnt show as well as $75.00 for wheels locks.
--- Yes. we're really really busy at my dealer, due to these rates Honda has put out.
It's targeting the US market head on.
With these rates, who the heck will buy FOR , GM or Chrysler ???
--- Yes. we're really really busy at my dealer, due to these rates Honda has put out.
It's targeting the US market head on.
With these rates, who the heck will buy FOR , GM or Chrysler ???
Also, wheel locks are not really necessary, if you are driving the DX, LX or EX because the alloys are very common and so attractive. Just my 2 cents.
