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Lease or Buy 2016 Civic

  • Lease

    Votes: 9 37.5%
  • Buy

    Votes: 15 62.5%
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Discussion Starter · #1 ·
So with the technological leap forward Honda brought us with the 2016 Civic I'm curious what you guys think about it in terms of reliability.

Honda has a rock solid reputation, is that enough for you to finance or outright buy the new 2016?

Or do all the new moving parts plant a seed of doubt in your mind and you would be more comfortable with leasing. Like how folks insulate themselves from German reliability...
 

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I really want to finance one come Spring 2016 but some of my concerns 4,5,6 years+ down the road are:

The CVT how well do they hold up.
The paint. Some Civics including my 8th gen have had fading and cracking issues.
How the 7in display will handle sun exposure over years to come.

The engine. Primarily the 1.5t it's Honda's first go at a turbo in the US and from the pictures and the engine bays i have seen at the dealerships it is way to busy for me. That's why i am leaning heavy on the EX with no sensing. The sensing features all sound great but the more systems your car has the more of a possibility that something can go wrong. I just wish they would offer the LED headlights as an option.
 

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I would purchase because leasing is like glorified renting of a car. Mileage limitations... no thank you. You still have to fuel it, maintain it, insure it! You end up with nothing in the end!
 

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I would purchase because leasing is like glorified renting of a car. Mileage limitations... no thank you. You still have to fuel it, maintain it, insure it! You end up with nothing in the end!
I agree, ending up with nothing in the end is the worst. Rather pay for it from the start and get a long warranty term, at least that way once its off the original warranty term you don't have to worry much about those high mileage issues that show up.
 

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I am considering leasing. It's cheaper and I get the feeling that cars are evolving rapidly right now. in 5 years or so, we may have autonomous cars or electric cars be more of the it thing.
 

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You end up with nothing in the end!
While technically true, the difference between $0 and what you end up with if you buy instead of lease isn't much.

For example, Honda's lease offer on Accords right now is $250/month for 38 months. The capitalized cost on that is $22,932.36.

If you instead buy the car for that amount and finance it for 60 months at 0.9%, you'll pay $391/month.

The $141/month lower payment of the lease means that at the end, you'll have $5358 more in the bank than if you'd financed the car.

"Yeah, but you'll have equity in the car if you buy". Well, at 38 months you'll still owe $8528. What's a 2013 Accord LX w/36K miles worth right now? Max KBB trade-in value is $13701. Adding 2.5%/year to adjust for inflation makes that $14754. Subtract what you'll still owe from that and you'll have $6226 in equity in the car.

$6226 versus $5358. $868 difference. That's all you're left with in the end for buying instead of leasing.
 

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No, you end up with $868 PLUS A VEHICLE THAT YOU OWN, and for those of us that drive 18K miles/Year, you won't have to pay the 25 cents extra per mile.

In addition, you don't have the headaches or pressure to re-up or lease a new vehicle at whatever current cost (inflation) is. You have a vehicle that you can continue driving.

(Note: I am still driving a 2006 civic with 172K miles and haven't had payments for years, just gas, insurance and normal maintenance)
 

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Buy for me. I'm old school so any car I own will be for a long time and I don't want to watch my mileage. Road trips are fun but not when I have to worry if the place I'm going to is within range.
 

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No, you end up with $868 PLUS A VEHICLE THAT YOU OWN
Oh, they let you keep the car after you trade it in now? Re-read what I wrote.

and for those of us that drive 18K miles/Year, you won't have to pay the 25 cents extra per mile.
It's incorrect to think that high mileage doesn't cost you anything just because you bought the car. If you sell a 3 year old car with 54K miles, you'll definitely take a hit compared to if the mileage was 36K. Probably not as much as the 15 cents/mile on a Honda lease, but I'd guess at least half that much.

In addition, you don't have the headaches or pressure to re-up or lease a new vehicle at whatever current cost (inflation) is. You have a vehicle that you can continue driving.
You do realize that you can buy the leased vehicle at the end of the lease for well below market value, right? No headache or pressure or expense - you just mail a check to Honda if you want to keep the car.
 
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Is the lease price negotiable? For example, I just got confirmation that I can buy a Touring for $1700 below MSRP. Not sure if you can do that with a lease (get a better monthly payment). Getting a good price up front makes the depreciation a little less of an issue
 

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I was under the impression that lease pricing is up for negotiation as well. Not sure though. It could depend on the dealer.
 

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Yeah, the bottom line is that, lease or buy, the dealership themself IS selling the car. It's either you or Honda Financial Services that's buying it from them.

So you can (and often it's a recommended strategy) negotiate the price of the car first as if you were buying it, then once you are done, tell them you want to lease it. Then your lease payment is (mostly) just the difference between your negotiated car price and the residual value (which is a locked value set by Honda Financial).
 

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I am leasing, I did not have enough money to put down to buy one on financing. I do plan to buy it out at the end of the lease so therefore how many miles I put on does not matter.
People don't realize that, they also don't realize you can use your lease to trade it at the end of the least term or even before the lease ends.
Definitely ask the finance person at the dealership what all your options are.
I negotiated the sale price down from 27,300. to 23,000.00 so you can even negotiate the sale price which effects your buy out price.
 

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Wow.... That's great price. How much cash did they want down on the lease?
I could have put down only a thousand, but I put down 4 to get my payment where I wanted it to be.
If you have a credit score over 800, which I don't, you can get away with zero down.
 

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I negotiated the sale price down from 27,300. to 23,000.00 so you can even negotiate the sale price which effects your buy out price.
Sweet, that definitely helps me out. I knew that 15% off MSRP on LX models was pretty common, but wasn't sure if the same was true for the top trims, and I want a Touring. Looks like you got almost 16% off MSRP on yours - very nice.

What is your monthly payment, if you don't mind me asking? And is it with a 12K mi/year allowance or 15K?
 

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Sweet, that definitely helps me out. I knew that 15% off MSRP on LX models was pretty common, but wasn't sure if the same was true for the top trims, and I want a Touring. Looks like you got almost 16% off MSRP on yours - very nice.

What is your monthly payment, if you don't mind me asking? And is it with a 12K mi/year allowance or 15K?
Since I am not top tier credit, mine is 310.00 a month, and since I'm buying it at the end of my lease term, I only got 12k a year for miles. Because when you buy it out, or use it as a trade, the miles do not matter. My buy out is 16 thousand dollars and change.
The dealership was awesome to me. I will never buy a car anywhere else again, this dealership is awesome. :D
 
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Sorry to bring up an old thread but when you "buy out" at the end of the lease do you have to pay the full remainder of the car or will they allow you to continue to make monthly payments?
 

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Civic is absolutely a sought-after car and copious people are looking for hassle-free leasing and buying options. For them, DSR Leasing is the right place. Explore a wide range of leasing options on gorgeous car models.
 
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