Question about leasing a hybrid

[halobeam]

Why is it 458/mth to lease a Honda Civic Hybrid and 227/mth to lease a reg. Honda Civic. The selling price for the Hybrid is 29,000. The selling price for the regular Civic is 24,000.

This is for 36 months.

The sales person couldn't have been clear on as to why, or unable to communicate it to me, as he muddled about the battery life (pretty much incoherently) and by that point, I figured I'd get all the answers I need from my handy dandy trusty friends at DU!


Side note: I was furious that b/c I didn't have money to outright buy it, I was unable to get a hybrid. I was initially looking to pay less than 200/mth total, but would've paid up to 250 maybe even a little more, in order to get the car. Obviously I couldn't touch a hybrid with a ten foot pole.

[Clovis Sangrail]

1. you were getting hustled

go elsewhere

[halobeam]

3. wow

we were ready to sign too and he knew it. What a jerk. He made nothing then.

[proud patriot]

2. I'd find another dealership

[halobeam]

4. thanks

[TreasonousBastard]

5. There's this thing about residual value at...

the end of a lease. Most likely, they were trying to rip you off, but there's a legitimate question about what a hybrid is worth after three years. Could be even Honda has no idea what the thing's actual lifetime is.

And, were they letting you have more miles with the hybrid? If the gas Civic lets you have 15,000 miles a year and the hybrid 25,000 miles, that's reason for a huge price increase.

Which brings up-- why lease? If you're going to be using it so little as to come under the mileage limitation, the additional gas savings won't amount to much.

15,000 miles @ 30mpg = 500 gallons 500 gallons @ $3 = $1,500 a year (typical econobox mileage)

15,000 miles @ 50mpg = 300 gallons 300 gallons @ $3 = $900 per year (best hybrid mileage)

So, with the hybrid, you save no more than 600 bucks a year, and probably less, unless gas goes much higher. But, you're paying more than 600 bucks a year for the car. If saving the planet is an issue, or you want to show off your green-ness, that's fine, but it's not going to save you any money.

[cornermouse]

7. Actually.

I've driven 60,000 miles in my civic hybrid over the last two years and couldn't be happier. There's a certain satisfaction to knowing that when you pull in at the pump you're not paying $50 or $60 for a tank as the person in front of you did.

[OKIsItJustMe]

6. I think it's more complicated...

Consider that the battery pack in the hybrid has an 8 year/80,000 mile warranty.
http://automobiles.honda.com/civic-hybrid/price.aspx

In any case, unless you don't plan to keep this car more than a couple of years, don't lease it. Buy it. I think that these lease plans are one of the most insidious things the car companies have ever done to their customers.

http://www.leaseguide.com/lease03.htm
http://www.stretcher.com/stories/01/010611e.cfm