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Honda CR-Z Lease Questions

kyfdxkyfdx Posts: 27,613
Ask your CR-Z lease questions here!

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  • Looking for MF & residual on a 36mo, 12k/yr & 15k/yr lease on a 2011 Honda CR-Z EX automatic transmission for South Florida
  • Welcome pikeymikey. Here's the information that you're looking for. Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-Z EX without navigation with 15,000 miles per year are .00200 and 65%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • Hi Car_man

    I saw the previous post from pikeymikey regarding the 2011 CR-Z EX without navigation. You indicated the money factor and residual value was .00200 and 65% respectively (assuming "Super Preferred" credit tier). I also live in South Florida and I tried to use these numbers to negotiate a 36 month lease at a local dealership. The sales guy looked at me like I had three heads. He said that both numbers were incorrect for a 36 month lease on that vehicle. I must admit I'm not the best negotiator, but was the sales guy bluffing? Could you check your numbers and reply back?

    The payment I was quoted on that vehicle assuming no money down and 15K miles per year was $382.32. I did some math and it looks like the money factor and residual he used was .0029915 and 56%.

    Thanks in advance for your help...
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,593
    I realize I retired in May before the CR-Z's came out but I have NEVER heard of a 65% residual on ANY Honda EVER!

    Especially on a 15,000 mile 36 month lease.

    I can find out for sure but I don't think these numbers are accurate.
  • Hi rwhited. Those numbers are definitely correct. Individual dealers do not have the authority to alter Honda Finance's published residual values for vehicles, so the 65% for a 36 month, 15k lease is what it is.

    Not surprisingly for such a brand new model, Honda is not currently providing any lease support on the CR-Z. As a result, if one was to lease one through Honda Finance right now, they would have to use its standard lease money factor...which is currently .00200 for 36 month terms for consumers who qualify for its top aka "Super Preferred" credit tier.

    It sounds like the salesperson may be trying to make the lease program sound worse than it is to hide some additional profit in your deal somewhere.

    Car_man
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  • I'm prety sure that this residual value is. It's not that difficult to believe that a brand new model would have a 65% residual value when an '11 Odyssey has a resid for the same terms in the 60%s as well.

    I'll make some calls and double check it to day to make certain. I'll let you know if I find out anything different.

    Car_man
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  • isellhondasisellhondas Issaquah WashingtonPosts: 17,593
    edited October 2010
    OK, I just checked and the 65% residual is for a NAVI model on a 12,000 mile lease.

    The EX model has a WHOPPING 68% residual!

    These are three year, 12,000 mile leases and I can't understand for the life of me why Honda would set those residuals so high???

    I don't see these being huge sellers but maybe Honda knows something I'm unaware of?

    For those who like to lease this would be one heck of a great deal!

    Or they may lose thousands at the auction three years from now?

    I've never seen anything even close to those numbers!
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,593
    Well, yes it IS difficult to believe that a brand new model would have such a high residual.

    It's a new model and it's a two seater. Two seat cars appeal to a VERY small market and as used cars they have never been great sellers. Maybe these will be different but I doubt it.

    The 2011 Odysseys are incredible and they are going to blow the market away. Used Odysseys have always been in very high demand therefore they SHOULD have a high residual.
  • wantolease1985wantolease1985 Posts: 1
    edited October 2010
    Sorry if this is a commonly asked question but is it safe to assume that the state in which you leasing the vehicle in affects the MF and residual. And if so is there anyway i can find them out for the following?

    36mo, 12k/yr & 15k/yr lease on a 2011 Honda CR-Z EX manual in Rochester, NY

    Thanks!
  • Some manufacturers' lease programs vary by region and some don't. Honda's current lease program is national, so it doesn't matter what state you are in.

    Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a base 2011 CR-Z with 15,000 miles per year are .00200 and 66%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
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  • isellhondasisellhondas Issaquah WashingtonPosts: 17,593
    I've never seen a residual that high on any Honda.

    The either are having trouble selling them or else thay have lofty predictions for thier resale value down the road?

    Slick little cars if a 2 seater will work for you!
  • kyfdxkyfdx Posts: 27,613
    having trouble selling them

    That seems most likely...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • isellhondasisellhondas Issaquah WashingtonPosts: 17,593
    That's what I suspect and Honda will pay later at the auction when they can't get anything near their residuals.
  • Hello Car_man,

    Can you give us the current rate on the CR-Z EX 6-speed?

    Thanks.

    :)
  • I certainly can, ae86pwr.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-Z EX without navigation with 15,000 miles per year are .00200 and 65%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • kyfdxkyfdx Posts: 27,613
    WOW! That's a high residual...

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  • Few Honda dealers claiming my calculation on the edmunds.com lease calculator was wrong. After drilling down their number it turns out they throw in Tracking Device and GAP insurance after the negotiated selling price.

    (their excuse was "it helps them getting the loan application approved" - i call BS on that)

    Shoppers beware.

    Thanks.
  • kyfdxkyfdx Posts: 27,613
    All Honda Finance leases have GAP insurance included for no extra charge... :surprise:

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    Prices Paid, Lease Questions, SUVs

  • Hello,

    I'm looking to find out the MF and residual % for a 2011 EX CVT with/and without NAV.

    Thanks!
  • Oh, also I'm in Oregon if that matters.
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