The Ultimate Broker Guide:
Questions To Ask When Leasing A Honda Civic
Leasing a new vehicle can be a smart financial decision. Cars depreciate when they are driven. Older cars also tend to require more repairs. If you stick to leasing your vehicle, you will be able to drive a new car and control your expenses.
If you’re looking a great car to lease, the Honda Civic is a smart bet. This hybrid car is one of the most fuel-efficient vehicles on the market; it has a better mpg city rating than cars like the Chevrolet Cruze and the Ford Focus. Experts have also ranked the Civic as one of the most reliable cars on the market.
With that said, you’ll want to ask a few questions before you sign a lease. Bring up these issues the next time you’re at the car dealership. Once your questions have been answered, you can decide what you would like to do next.
What Is The Residual Value Of The Civic?
The more your car is worth at the end of your lease, the better off you’ll be. A car with a high residual value will help you to keep your monthly payment down. The residual value of the Honda Civic is relatively high. The value typically falls between 50 and 65 percent.
With that said, it’s smart to have exact numbers. Ask the dealership about the residual value of the vehicle. Determine whether or not a lease is going to pay off for you.
How Many Miles Does The Lease Include?
If you’re going to be driving your Civic heavily, you are going to have to be cautious about signing a lease. It’s typically for leases to have mileage limit. While the industry standard is 12,000 miles, it isn’t unusual for leases to have limits as low as 10,000 miles. If you go over those limits, you could wind up spending a lot.
You need to be aware of how many miles per year the lease is allowing you. You may want to negotiate a lease that is a better fit for you. A higher mileage limit means a higher monthly payment, but in the long run, that may pay off for you.
What Kinds Of Fees Will I Be Paying?
Leasing isn’t always affordable as it seems. While leasing a reliable vehicle as the Honda Civic can benefit you, leases tend to include some hidden fees.
A prime example of this is drive off fees. These are the fees you’ll have to pay before driving your car off of the lot. Your down payment will be included in these charges.
Other types of fees you may have to pay including acquisition fees and disposition. If you have credit issues, you may also have to pay some security deposit. Most of these charges can be waived; negotiate and see if you can secure a better deal.
How Flexible Is The Lease?
If your life changes dramatically over the next year, a leased Honda Civic may not be a good fit for you. Some leases allow you to transfer ownership of your vehicle to someone else.
Major leasing companies allow for lease transfers. However, it’s still smart to confirm that your lease is flexible. Make sure that you won’t be trapped in a bad situation.
The Honda Civic is an incredible car. From its spacious interior to its high gas mileage, it has a lot to offer consumers. If you’re thinking about leasing a Honda Civic, make sure you ask the questions listed above. See if this vehicle would be a good fit for you.