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Honda Accord Crosstour Lease Questions

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  • slev27slev27 Posts: 1
    Hello!
    What is the current RESIDUAL VALUE & Money Factor on a 36 month 12,000 mile/yr LEASE for:

    2012 Crosstour EX-L 4wd V6??

    Zipcode is 07052 if that matters
  • solepolesolepole Posts: 4
    edited June 2012
    Hey Guys,

    I just leased a new 2012 Honda Crosstour from a Boston area dealer two days ago. I got an absurdly good deal and figured I should share it with all of you as a basis for negotiation with your local dealers. I should let you know that up until about 6 months ago I worked at a dealership for 7 years (4.5yrs as a salesman and 2.5yrs as the Finance Manager). This certainly helped with my negotiations (since I let them know I worked in a dealership for so long), though I will say there was very little back-and-forth with the dealer. They were quite accommodating!

    I went in looking to lease a 2012 Crosstour EX 4-cylinder. (list price $28,585)
    I managed to negotiate a 36 month lease w/ 12k miles yr for
    $219 month +tax
    $0 capcost reduction (down payment)
    Total due at signing would be $1,234 (1st month's payment, documentation fee, acquisition fee, registration fee, tax etc.)

    ANY dealer should be able to match this lease. What is more impressive is that included in those numbers is the fact that the dealer was also going to write me a check for aprox $900 to cover my last 4 lease payments on my current car! (as long as I took an in-stock vehicle).
    If my current lease was up, I essentially could have gotten the deal for $900 less, effectively making my monthly payment $194 a month +tax (or keeping my payment the same and lowering my due @ signing fees by $900).

    My wife really really wanted a white car, and the dealer did not have a white 4 cylinder in stock. So we then worked a deal on a white 2012 Crosstour EX V6. List price of $31,270. (Keep in mind, you will always get the best deal on an IN-STOCK vehicle).

    The deal I ended up going with was:
    36 mth w/ 12k yr
    $264.48 base payment +tax
    $0 capcost reduction (down payment)
    $1,234 total due @ signing (includes 1st month payment, acquisition fee, doc fee, reg fee)
    +Dealer also writes me a check for $900 so I can pay off my current lease 4 months early.

    If you forget about the $900 check back to me and apply the $900 as an additional discount to the to selling price of the car it works out that they based the lease on a selling price of $24,230 (a $7,040 discount off MSRP). I have NO IDEA how they were able to do this, but they did. I am driving the car, so I know it's real. I also am basing all these numbers off the screen-printout they gave me since I asked for a copy during negotiations. I also confirmed these #s when I re-worked up the lease at home on my own dealer software that I have, so I know it is correct.

    Residual was 56% for both the EX V6 and the EX 4 Cyl.
    Money Factor for both cars was 0.00084 (Honda's highest tier credit)

    Hope this helps. We love the car by the way. The standard reverse camera is a very nice feature.

    Good luck!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi solepole. Through July 9th, Honda Finance's buy rate lease money factor and residual value for a 36-month lease of a 2012 Accord Crosstour EX 4-cylinder 2WD with 12,000 miles per year are .00084 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    I am not aware of any loyalty or pull-ahead programs from Honda on this model right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello slev27. Through July 9th, Honda Finance's buy rate lease money factor and residual for a 36-month lease of a 2012 Crosstour EX-L V6 4WD with 12,000 miles per year are .00084 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal on this vehicle, make sure to take advantage of the $2,000 cash incentive that is currently available on it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • kkics1kkics1 Posts: 11
    I was looking at a 2012 EXL V6 with Nav and our local dealer is offering $379 with $1000 plus TTL for a 3year, 12000 mile lease. I have heard of better deals out there on in stock vehicles. Any insight on what is available for August? I was looking more for a 15,000 mile lease but was curious what the options are on leasing this vehicle from the dealer.
    Thanks!
  • Hello,
    I have been using the information on this forum to try and negotiate a deal on the Crosstour EX. I know I didn't get a good deal on my last lease and I am trying to do things differently this time. But honestly I feel like I have no idea what I'm doing.
    So, first I sent out quote requests through Edmunds and was contacted by several dealerships in which they quoted me on the EX model. One of the quotes was for $23,820 and another for $23,514.
    I sent them both back this email:
    I am looking to lease the Crosstour EX with a Cap Cost of $21,514. The Cap cost reduction would be $0, I am not putting anything down. I need to know what the money factor is currently (we would qualify for "super preferred/highest credit tier") and I also need to know at what percentage you are calcualting your residual value at currently.
    I look forward to hearing back from you.

    Dealer #1 replied:
    Thanks again for your interest in the 2012 Honda Crosstour EX. I would really like to earn your business, but a cap cost of $21,514 will be well below how much any dealership purchases the vehicle for. Honda is currently offering a $2000 incentive for Crosstours, which happens to be the largest discount you can anticipate for the year. I really cannot imagine a better deal later in the year. The money factor is .0006 and the residual is 56 percent. Let me know if you would like to come in to see the Crosstour and further discuss our offer.

    Dealer #2 replied:
    Thanks for your response. On a 2012 Crosstour EX 4 cylinder, with an internet sale price of $23,820, I'd be at a cap cost of $26,146, lease rate of $309/mth plus tax with zero out of pocket. Residual percentage is 56%, money factor .00060, and interest rate 1.44%. However, I just double-checked inventory and we do not have any EX or EX-L 4 cylinders in stock. Next up available trim is the EX-V6 which would lease at $349/mth plus tax, zero out of pocket.

    My questions are the following:
    With Dealer #1- the $2000 incentive, does that come off the price of the car, or are they offering a cash incentive? How do these incentives work?
    Also, how should I interpret his reply and what should I reply back?

    With Dealer #2- This reply really confused me, because I thought the internet sales price they were quoting me and the Cap cost were the same thing. I thought the cap cost was the amount you were agreeing to for the vehicle- essentially the sales price. So how does the sales price of $23,820.. go up to a cap cost of $26,146?

    Thank you!
  • Dealer #2 forgot to tell you about the bank lease fees and security deposit. That's why the cap cost is higher than the internet sales price. Also, you have to be very diligent when leasing a vehicle to make sure that the negotiated buy price is indeed correctly stated in the vehicle lease contract. There are more than a few dealers who love to lease because the price at which you are buying the car can be obscured.
  • iontrapiontrap Posts: 138
    What is the money factor and residual on a 2012 EX-L, 36 months and 12000 miles per year?
  • Hey iontrap. Honda Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2012 Crosstour EX-L 2WD with 12,000 miles per year are .00020 and 51% for consumers who qualify for its top credit tier.

    When negotiating your deal, make sure to take advantage of the $2,500 dealer cash that is available on this model this month.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man, I am looking for 2013 Crosstour EXL 2WD 4cyl lease rates for 36 mo / 15,000 mpy, please.
  • Help me understand the process of negotiating a lease. What does residual mean and money factor and how would I use those numbers to lease a cross tour? In the past, I've just leased cars based on the monthly payment, but I know there must be a better way. My lease is expiring in May & I'd like to lease a new crosstour at that time.
    Thanks.
  • Here's the information that you're looking for, vladrac. Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2013 Crosstour EX-L 2WD 4-cylinder with 15,000 miles per year are .00155 and 57% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi ilana16. You definitely should check out the following informative articles on leasing that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • anelleanelle Posts: 3
    Leased a 2013 Crosstour EX-L, V-6 (w/out Navi) for $382/month. Includes 15000K miles per year, exteneded warranty (from 36K to 45K), free oil changes, windshield protection, paint and interior protection.

    Money factor 0.00074 (Equifax=698), $2500 down.

    Negotiated value $32250.

    I reside in Houston, TX
  • I reside in houston as well and was wondering which dealer this was? Looking to purchase this month. Thanks
  • slavar1slavar1 Posts: 1
    I'm in Northern NJ. I'm looking to lease 2013 Ex-l 4wdr crosstour with Navigation. Can anybody recommend any dealers around NY/NJ area. I've been working with some, but the lease quotes I was receiving are way to high.

    Thanks!
  • ilana16ilana16 Posts: 4
    I'm finding the same issue in Massachusetts. I have a 2010 and am looking to trade for a 2013. The price difference on a lease from 2010 to now is an increase of more than $100/month. YIKES!
  • happypilot1happypilot1 Posts: 6
    edited April 2013
    This might be a regional problem but I think it's more national in scope: Honda's just not dealing on the Crosstour whereas 2-1/2-3 years ago they were dumping them at 6-7K off MSRP

    I went back into an email quote I saved from 12/2010 for a 2010 2WD EX-L with an MSRP of more than $33k. The lease was based on a sale price of $26186, capitalized cost of 26781, MF of .0002 and the monthly payment before state tax was $243.88. This was a no hassle/no down payment offer.

    Would've probably tried to get them even lower except that we found in the test drive that rear vision was much less than we were comfortable with so the deal was a no go. Just hated passing on that kind of bargain.
  • birdlivsbirdlivs Posts: 18
    Hi Carman, My 2010 Crosstour lease is up soon and I'd like to look into another lease. Any udates on buy rates residuals, money factors and incentives for a 2013 EX-L 3/36k would be helpful. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Sure birdlivs. Honda Finance's July buy rate lease money factor and residual value for a 35-month lease of a 2013 Crosstour EX-L 4-cylinder 2WD with 12,000 miles per year are .00056 and 54% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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