2016 Honda CR-V Lease Questions

hydro13

Does Honda have any special lease programs for the 2016 CR-V models?

Michaell

hydro13 said:

Does Honda have any special lease programs for the 2016 CR-V models?

Special programs? No .. the MF is the Honda standard of .00165 but we do have residual values.

What trim level, drivetrain (FWD or AWD), lease term and miles per year are you interested in?

stealthmode29

Hello can you provide the money factor and residual for 2016 crv se awd for 36/10 ? Many thanks

hydro13

A family member is interested in leasing a 2016 Honda CR-V LX for 36/12K What is the current MF and RV?

Michaell

stealthmode29 said:

Hello can you provide the money factor and residual for 2016 crv se awd for 36/10 ? Many thanks

Honda doesn't offer 10k leases ... the 36/12 numbers are .00165 and 64%

Michaell

hydro13 said:

A family member is interested in leasing a 2016 Honda CR-V LX for 36/12K What is the current MF and RV?

64% and .00165

melker

Would appreciate your evaluation of the following offer for a 2016 CRV EXL AWD. Located in Madison, WI

Cap Cost/Vehicle Price: 28,547.00
Cap Cost Reduction (Trade-in): $2500.00
Money Factor: .00175 Multiple dealerships in WI have told me this rate and said it was set by Honda. Based on previous comments I am wondering if that is accurate, as it it is higher than the others posted
Residual Value: 18,601.95
Lease Term 39 mo/15,000 miles a year
Total due at signing: ($0, includes all fees, license plate transfer, taxes and fees)
Excess mileage fee: 20 cents a mile

Thank you very much for your assistance!

Michaell

melker said:

Would appreciate your evaluation of the following offer for a 2016 CRV EXL AWD. Located in Madison, WI

Cap Cost/Vehicle Price: 28,547.00
Cap Cost Reduction (Trade-in): $2500.00
Money Factor: .00175 Multiple dealerships in WI have told me this rate and said it was set by Honda. Based on previous comments I am wondering if that is accurate, as it it is higher than the others posted
Residual Value: 18,601.95
Lease Term 39 mo/15,000 miles a year
Total due at signing: ($0, includes all fees, license plate transfer, taxes and fees)
Excess mileage fee: 20 cents a mile

Thank you very much for your assistance!

We've always believed that the standard MF for Honda was .00165, but we don't have any documentation to confirm it. If you have multiple dealers telling you the same thing, no reason not to believe it.

39/15 on the EXL AWD (w/o Nav) is 61%, so I'll assume your MSRP is $30,495.

Using the $28,547 as the net cap cost, I get a payment of $359/mo before taxes.

Is the entire trade in equity being used as cap cost reduction, or is some of it going to the upfront fees?

melker

Michaell said:

melker said:

Would appreciate your evaluation of the following offer for a 2016 CRV EXL AWD. Located in Madison, WI

Cap Cost/Vehicle Price: 28,547.00
Cap Cost Reduction (Trade-in): $2500.00
Money Factor: .00175 Multiple dealerships in WI have told me this rate and said it was set by Honda. Based on previous comments I am wondering if that is accurate, as it it is higher than the others posted
Residual Value: 18,601.95
Lease Term 39 mo/15,000 miles a year
Total due at signing: ($0, includes all fees, license plate transfer, taxes and fees)
Excess mileage fee: 20 cents a mile

Thank you very much for your assistance!

We've always believed that the standard MF for Honda was .00165, but we don't have any documentation to confirm it. If you have multiple dealers telling you the same thing, no reason not to believe it.

39/15 on the EXL AWD (w/o Nav) is 61%, so I'll assume your MSRP is $30,495.

Using the $28,547 as the net cap cost, I get a payment of $359/mo before taxes.

Is the entire trade in equity being used as cap cost reduction, or is some of it going to the upfront fees?

Yes, MSRP=$30,495--no nav

$2500 trade in being applied to $603.90 inception fees (first month payment of $309.17, service fee of $195, $69.50 title fee, $19.50 electronic filing fee and $10.73 upfront taxes) with remaining balance ($1896.10) being considered net trade as cap reduction.

38 remaining payments $309.17 (293.05 base + $16.12 taxes)

$350 disposition fee.

I was also advised by the dealer that Honda just started a new incentive on 2015 CRV EXL no nav and the numbers for that were:

MSRP=$30,275
Cap Cost=$26,971
Residual Value=17,559.50
39/15 lease
$2500 trade in being applied to $593.65 inception fees (first month payment of $298.92, service fee of $195, $69.50 title fee, $19.50 electronic filing fee and $10.73 upfront taxes) with remaining balance ($1906.35) being considered net trade as cap reduction.

38 remaining payments of $298.92 each ($283.33 base +$15.59 tax)

Appreciate your feedback on these as well as whether it is a good idea to lease beyond the manufacuturers warranty. I have mixed feelings on both these scenarios, as they would leave us over the 3 years/36,000 warranty.

Michaell

melker said:

Michaell said:

melker said:

Would appreciate your evaluation of the following offer for a 2016 CRV EXL AWD. Located in Madison, WI

Cap Cost/Vehicle Price: 28,547.00
Cap Cost Reduction (Trade-in): $2500.00
Money Factor: .00175 Multiple dealerships in WI have told me this rate and said it was set by Honda. Based on previous comments I am wondering if that is accurate, as it it is higher than the others posted
Residual Value: 18,601.95
Lease Term 39 mo/15,000 miles a year
Total due at signing: ($0, includes all fees, license plate transfer, taxes and fees)
Excess mileage fee: 20 cents a mile

Thank you very much for your assistance!

We've always believed that the standard MF for Honda was .00165, but we don't have any documentation to confirm it. If you have multiple dealers telling you the same thing, no reason not to believe it.

39/15 on the EXL AWD (w/o Nav) is 61%, so I'll assume your MSRP is $30,495.

Using the $28,547 as the net cap cost, I get a payment of $359/mo before taxes.

Is the entire trade in equity being used as cap cost reduction, or is some of it going to the upfront fees?

Yes, MSRP=$30,495--no nav

$2500 trade in being applied to $603.90 inception fees (first month payment of $309.17, service fee of $195, $69.50 title fee, $19.50 electronic filing fee and $10.73 upfront taxes) with remaining balance ($1896.10) being considered net trade as cap reduction.

38 remaining payments $309.17 (293.05 base + $16.12 taxes)

$350 disposition fee.

I was also advised by the dealer that Honda just started a new incentive on 2015 CRV EXL no nav and the numbers for that were:

MSRP=$30,275
Cap Cost=$26,971
Residual Value=17,559.50
39/15 lease
$2500 trade in being applied to $593.65 inception fees (first month payment of $298.92, service fee of $195, $69.50 title fee, $19.50 electronic filing fee and $10.73 upfront taxes) with remaining balance ($1906.35) being considered net trade as cap reduction.

38 remaining payments of $298.92 each ($283.33 base +$15.59 tax)

Appreciate your feedback on these as well as whether it is a good idea to lease beyond the manufacuturers warranty. I have mixed feelings on both these scenarios, as they would leave us over the 3 years/36,000 warranty.

It is my opinion that there is zero risk in leasing a Honda for 3 months longer than the factory warranty. I suspect all you'll do are oil changes and tire rotations, plus whatever regular maintenance Honda recommends.

We don't recommend using trade equity as down payment on a lease - if the car is stolen or totaled, you lose that money. Have the dealer cut you a check for the balance, and use that to augment the now higher payment you'll have as a result.

melker

Michaell said:

melker said:

Michaell said:

melker said:

Would appreciate your evaluation of the following offer for a 2016 CRV EXL AWD. Located in Madison, WI

Cap Cost/Vehicle Price: 28,547.00
Cap Cost Reduction (Trade-in): $2500.00
Money Factor: .00175 Multiple dealerships in WI have told me this rate and said it was set by Honda. Based on previous comments I am wondering if that is accurate, as it it is higher than the others posted
Residual Value: 18,601.95
Lease Term 39 mo/15,000 miles a year
Total due at signing: ($0, includes all fees, license plate transfer, taxes and fees)
Excess mileage fee: 20 cents a mile

Thank you very much for your assistance!

We've always believed that the standard MF for Honda was .00165, but we don't have any documentation to confirm it. If you have multiple dealers telling you the same thing, no reason not to believe it.

39/15 on the EXL AWD (w/o Nav) is 61%, so I'll assume your MSRP is $30,495.

Using the $28,547 as the net cap cost, I get a payment of $359/mo before taxes.

Is the entire trade in equity being used as cap cost reduction, or is some of it going to the upfront fees?

Yes, MSRP=$30,495--no nav

$2500 trade in being applied to $603.90 inception fees (first month payment of $309.17, service fee of $195, $69.50 title fee, $19.50 electronic filing fee and $10.73 upfront taxes) with remaining balance ($1896.10) being considered net trade as cap reduction.

38 remaining payments $309.17 (293.05 base + $16.12 taxes)

$350 disposition fee.

I was also advised by the dealer that Honda just started a new incentive on 2015 CRV EXL no nav and the numbers for that were:

MSRP=$30,275
Cap Cost=$26,971
Residual Value=17,559.50
39/15 lease
$2500 trade in being applied to $593.65 inception fees (first month payment of $298.92, service fee of $195, $69.50 title fee, $19.50 electronic filing fee and $10.73 upfront taxes) with remaining balance ($1906.35) being considered net trade as cap reduction.

38 remaining payments of $298.92 each ($283.33 base +$15.59 tax)

Appreciate your feedback on these as well as whether it is a good idea to lease beyond the manufacuturers warranty. I have mixed feelings on both these scenarios, as they would leave us over the 3 years/36,000 warranty.

It is my opinion that there is zero risk in leasing a Honda for 3 months longer than the factory warranty. I suspect all you'll do are oil changes and tire rotations, plus whatever regular maintenance Honda recommends.

We don't recommend using trade equity as down payment on a lease - if the car is stolen or totaled, you lose that money. Have the dealer cut you a check for the balance, and use that to augment the now higher payment you'll have as a result.

Thanks Michaell! I feel blessed to have found this forum. Based on this recommendation I will not use trade equity as a down payment.

3 months beyond warranty wasn't as a big of a concern to me as the 9,000 miles over warranty. Do you feel the same way about the 9,000 miles as the 3 mo on this?

Lastly, do you have any thoughts as to which we would be better off leasing (e.g., 2015 or 2016)?

Michaell

melker said:

Michaell said:

melker said:

Michaell said:

melker said:

Would appreciate your evaluation of the following offer for a 2016 CRV EXL AWD. Located in Madison, WI

Cap Cost/Vehicle Price: 28,547.00
Cap Cost Reduction (Trade-in): $2500.00
Money Factor: .00175 Multiple dealerships in WI have told me this rate and said it was set by Honda. Based on previous comments I am wondering if that is accurate, as it it is higher than the others posted
Residual Value: 18,601.95
Lease Term 39 mo/15,000 miles a year
Total due at signing: ($0, includes all fees, license plate transfer, taxes and fees)
Excess mileage fee: 20 cents a mile

Thank you very much for your assistance!

We've always believed that the standard MF for Honda was .00165, but we don't have any documentation to confirm it. If you have multiple dealers telling you the same thing, no reason not to believe it.

39/15 on the EXL AWD (w/o Nav) is 61%, so I'll assume your MSRP is $30,495.

Using the $28,547 as the net cap cost, I get a payment of $359/mo before taxes.

Is the entire trade in equity being used as cap cost reduction, or is some of it going to the upfront fees?

Yes, MSRP=$30,495--no nav

$2500 trade in being applied to $603.90 inception fees (first month payment of $309.17, service fee of $195, $69.50 title fee, $19.50 electronic filing fee and $10.73 upfront taxes) with remaining balance ($1896.10) being considered net trade as cap reduction.

38 remaining payments $309.17 (293.05 base + $16.12 taxes)

$350 disposition fee.

I was also advised by the dealer that Honda just started a new incentive on 2015 CRV EXL no nav and the numbers for that were:

MSRP=$30,275
Cap Cost=$26,971
Residual Value=17,559.50
39/15 lease
$2500 trade in being applied to $593.65 inception fees (first month payment of $298.92, service fee of $195, $69.50 title fee, $19.50 electronic filing fee and $10.73 upfront taxes) with remaining balance ($1906.35) being considered net trade as cap reduction.

38 remaining payments of $298.92 each ($283.33 base +$15.59 tax)

Appreciate your feedback on these as well as whether it is a good idea to lease beyond the manufacuturers warranty. I have mixed feelings on both these scenarios, as they would leave us over the 3 years/36,000 warranty.

It is my opinion that there is zero risk in leasing a Honda for 3 months longer than the factory warranty. I suspect all you'll do are oil changes and tire rotations, plus whatever regular maintenance Honda recommends.

We don't recommend using trade equity as down payment on a lease - if the car is stolen or totaled, you lose that money. Have the dealer cut you a check for the balance, and use that to augment the now higher payment you'll have as a result.

Thanks Michaell! I feel blessed to have found this forum. Based on this recommendation I will not use trade equity as a down payment.

3 months beyond warranty wasn't as a big of a concern to me as the 9,000 miles over warranty. Do you feel the same way about the 9,000 miles as the 3 mo on this?

Lastly, do you have any thoughts as to which we would be better off leasing (e.g., 2015 or 2016)?

No real difference in miles versus time. Hondas are quite reliable.

No thoughts on 2015 or 2016. 2015 inventory is shrinking, so if you are set on a specific color, you may be disappointed. However, there are better deals to be had on the inventory that does exist, so that will lower your lease payment.

melker

Thanks again Michaell! Really appreciate your assistance.

joeasp

I am looking into a 2016 CR-V EX-L with Navi, AWD, 36/12. Any idea what the residual on that would be?

kyfdx

joeasp said:

I am looking into a 2016 CR-V EX-L with Navi, AWD, 36/12. Any idea what the residual on that would be?

61% for either 36/12 or 39/12

joeasp

Thanks!

hydro13

What is the acquisition fee on a Honda CR-V lease?

kyfdx

hydro13 said:

What is the acquisition fee on a Honda CR-V lease?

$595

hydro13

Honda is offering a lease program for the 2016 CR-V AWD LX ($229.00 per month for 39 months. $3,399.00 total due at signing.) does this make sense to go with this instead of a straight 36/12k lease at the current MF and RV and only pay the inception costs at signing (doc fee, acquisition fee and registration)

bburdick78

Could you please provide the residual values for the following in New York State.

SE AWD 36/12 and 39/12
EX AWD. 36/12 And 39/12

I'm assuming the money factor is .00165

Thank you for your help.

kyfdx

hydro13 said:

Honda is offering a lease program for the 2016 CR-V AWD LX ($229.00 per month for 39 months. $3,399.00 total due at signing.) does this make sense to go with this instead of a straight 36/12k lease at the current MF and RV and only pay the inception costs at signing (doc fee, acquisition fee and registration)

You want to do the 39 month lease, as it has the same residual as the 36 month term. But, you can structure the lease however you want it. Just because they advertise the vehicle with $3400 due at signing, doesn't mean it's required. They are just trying to show a low payment.

kyfdx

bburdick78 said:

Could you please provide the residual values for the following in New York State.

SE AWD 36/12 and 39/12
EX AWD. 36/12 And 39/12

I'm assuming the money factor is .00165

Thank you for your help.

64% residual in all cases

brl72

Was quoted the following on 2016 Honda CR-V EX AWD for 39 months and 10000 miles in New York:

MSRP: 28025
net cap cost:26300
MF:.00175
Residual-.65
lease price-285.17 before tax

was quoted the following on a 2015 cr-v EX-L AWD for same period and miles:

MSRP: 30275
Net cap cost- 26495.62
MF-.00175
residual-.59
lease price-294.00 before tax.

no money down except first month, bank fees and dmv charges. Will roll taxes into payment.

Any thoughts?

kyfdx

brl72 said:

Was quoted the following on 2016 Honda CR-V EX AWD for 39 months and 10000 miles in New York:

MSRP: 28025
net cap cost:26300
MF:.00175
Residual-.65
lease price-285.17 before tax

was quoted the following on a 2015 cr-v EX-L AWD for same period and miles:

MSRP: 30275
Net cap cost- 26495.62
MF-.00175
residual-.59
lease price-294.00 before tax.

no money down except first month, bank fees and dmv charges. Will roll taxes into payment.

Any thoughts?

Both look good. If you want the features that come with the EX-L, get the 2015 model.

njpathfinder

Hi please post the residual and MF plus any incentives for 2016 Honda CRV EX for 36/12 and 36/15 for February 2016 in NJ. Thanks

njpathfinder

I forgot to mention im looking for EX AWD model. Thanks

Michaell

njpathfinder said:

Hi please post the residual and MF plus any incentives for 2016 Honda CRV EX for 36/12 and 36/15 for February 2016 in NJ. Thanks

njpathfinder said:

I forgot to mention im looking for EX AWD model. Thanks

.00125 and 62% for 36/15. Add 2% for 12K

Same numbers for 39 months, which will result in a slightly lower payment.

njpathfinder

Thank you. Are the numbers the same for the EX-L with or without navigation?

kyfdx

njpathfinder said:

Thank you. Are the numbers the same for the EX-L with or without navigation?

Subtract 1% for EX-L or 3% for EX-L with NAV

mskibrowsing

2016 CRV EX AWD Quoted in RI.. $25000. MSRP 28,195. Lease 299mo at 12/39 $2000 down (Ct tax incl.) 64% residual. Thoughts?

beetleyp

Hey all.
I'm looking at leasing a 2016 CRV Touring 2WD with 36 month/12K miles in CA. Hoping to find out the current Money Factor and Residual for that. Thanks in advance for any info. It's Presidents Day Weekend and I know about the 0.9% financing special for 60 months, but haven't seen anything about leases. Thanks
-Keith

Michaell

mskibrowsing said:

2016 CRV EX AWD Quoted in RI.. $25000. MSRP 28,195. Lease 299mo at 12/39 $2000 down (Ct tax incl.) 64% residual. Thoughts?

I get $232/mo with those numbers. Confirm the net cap cost - if higher than $25k find out what's been added.

Michaell

beetleyp said:

Hey all.
I'm looking at leasing a 2016 CRV Touring 2WD with 36 month/12K miles in CA. Hoping to find out the current Money Factor and Residual for that. Thanks in advance for any info. It's Presidents Day Weekend and I know about the 0.9% financing special for 60 months, but haven't seen anything about leases. Thanks
-Keith

.00125 and 60%

mskibrowsing

Michaell said:

mskibrowsing said:

2016 CRV EX AWD Quoted in RI.. $25000. MSRP 28,195. Lease 299mo at 12/39 $2000 down (Ct tax incl.) 64% residual. Thoughts?

I get $232/mo with those numbers. Confirm the net cap cost - if higher than $25k find out what's been added.

Thanks.. will do..

kiwithepup

Hi Michaell,

I am not sure if this is a good deal or not.. I took a picture with my phone of the lease worksheet... the information on it is confusing in how it is laid out. It says selling price is 26,576.25 and 595 Acquisition fee =27,171.25 Gross Capitalized Cost. Then for cap cost reduction there is a 1186.00 down payment, which includes taxes (but not other fees like plates, tire tax, and something else that add up to about $242 so really ends up being 1428 I would be putting down, but only the 1186 is coming off the price or going down on the car). So Net capitalized Cost is 27,125. For Term, it is a money factor of .0009, first payment due at signing but part of the 1186. $275.86 a month payment. Does this sound right? Is it good? It seems pretty good. Not sure where it could be better or where I would ask for it to change. First lease. Dealer says they don't let people take the worksheet home but that he would let me take a picture.. anyway what do you think? Also residual is based on the MSRP it appears, is that normal? Also I am in NY. Sorry for the long post... I am a newbie. Thanks Michaell!

Michaell

kiwithepup said:

Hi Michaell,

I am not sure if this is a good deal or not.. I took a picture with my phone of the lease worksheet... the information on it is confusing in how it is laid out. It says selling price is 26,576.25 and 595 Acquisition fee =27,171.25 Gross Capitalized Cost. Then for cap cost reduction there is a 1186.00 down payment, which includes taxes (but not other fees like plates, tire tax, and something else that add up to about $242 so really ends up being 1428 I would be putting down, but only the 1186 is coming off the price or going down on the car). So Net capitalized Cost is 27,125. For Term, it is a money factor of .0009, first payment due at signing but part of the 1186. $275.86 a month payment. Does this sound right? Is it good? It seems pretty good. Not sure where it could be better or where I would ask for it to change. First lease. Dealer says they don't let people take the worksheet home but that he would let me take a picture.. anyway what do you think? Also residual is based on the MSRP it appears, is that normal? Also I am in NY. Sorry for the long post... I am a newbie. Thanks Michaell!

What lease term and how many miles per year? What trim level?

Residual is based on MSRP, yes.

NY collects the sales tax for a lease up front, which I'm guessing is part of the $1186. Or is it?

If it is truly a down payment, we advise against it - if the car is stolen or totaled, you lose that money.

You might want to contact other dealers, and get them to compete against one another for your business. As we are in the last days of the month, you are in a position of strength.

kiwithepup

Hello again.. I can't believe I left that out, my bad! 2016 CR-V AWD EX 39 months/12k a year but said I get the 39k total miles for the lease.. I negotiated them down like $10 but not sure how else to budge it or how good it could really get. I'd love nothing down 250-270 payment, but not sure how to get there. Yes the down payment is NYS taxes included.

Michaell

kiwithepup said:

Hello again.. I can't believe I left that out, my bad! 2016 CR-V AWD EX 39 months/12k a year but said I get the 39k total miles for the lease.. I negotiated them down like $10 but not sure how else to budge it or how good it could really get. I'd love nothing down 250-270 payment, but not sure how to get there. Yes the down payment is NYS taxes included.

If you add in the taxes and fees to the cap cost, your payment will go up $30-40 per month. Not likely to get $250-270/mo with nothing down.

kiwithepup

Okay well that is good to know. So given most of what I am putting down is NY taxes, is a 2016 CR-V EX 12k/39M 1186.40 down, Gross cap cost 27,171 (26576 plus acquisition fee of 595) MSRP 28,045, .64 residual and MF .0009 look come to a 275.86 payment? Is that a good deal? NY is 8% sales tax..

Michaell

kiwithepup said:

Okay well that is good to know. So given most of what I am putting down is NY taxes, is a 2016 CR-V EX 12k/39M 1186.40 down, Gross cap cost 27,171 (26576 plus acquisition fee of 595) MSRP 28,045, .64 residual and MF .0009 look come to a 275.86 payment? Is that a good deal? NY is 8% sales tax..

Yes.

tdemoss18

Can you post the money factor and residual value for a 2016 CRV EXL AWD (KY)? Thanks.

marni_carter

Hi, checking on a deal my sister put together with NO research (I know!) Can you please provide the money factor and residual value for 2016 CRV SE, 39 months, 12K miles per year. Credit score is 783, so not sure if Honda has one money factor or if they are dependent on credit score. BTW, she is in Texas. If you can please post figures for February and March, that would be great. (Not sure if they are different.)

She is doing a lease return and has damage to her car, so they are putting $500 worth of charges into her new lease. How does the $500 get applied when calculating the lease (since its not part of the MSRP)?

Michaell

tdemoss18 said:

Can you post the money factor and residual value for a 2016 CRV EXL AWD (KY)? Thanks.

What lease term and how many miles per year?

Michaell

marni_carter said:

Hi, checking on a deal my sister put together with NO research (I know!) Can you please provide the money factor and residual value for 2016 CRV SE, 39 months, 12K miles per year. Credit score is 783, so not sure if Honda has one money factor or if they are dependent on credit score. BTW, she is in Texas. If you can please post figures for February and March, that would be great. (Not sure if they are different.)

She is doing a lease return and has damage to her car, so they are putting $500 worth of charges into her new lease. How does the $500 get applied when calculating the lease (since its not part of the MSRP)?

61% residual for 39/12; .00120 MF for Texas. These are the March numbers; February numbers have expired.

MF is dependent on credit score, but 783 will get the best rate quoted above.

$500 is probably being added to the selling price to address the damage from the trade

Be advised that in Texas, the entire selling price is subject to sales tax for a lease; that amount is either collected up front or added to the selling price. Makes leasing more expensive than in most other states.

marni_carter

Thank you for the info. Were February numbers very much different than March? I am convinced she got screwed royally on this deal since she just goes in with the "I want to lease this car and I'll pay this much per month" offer, and does no research. She did her deal on Saturday, so it was still in February. She leased a 2016 CR-V SE 2WD, 39 months, 12k miles. MSRP on the car is $26,039 (including options she added and the $500 for the damages). She paid the first month up front and her payments are $344.08 per month. I just leased my 2016 Ford Escape in October. MSRP is $36K, and I did 36 months, 15k miles, and my payments are $358.00 per month. I negotiated this sucker down to $1300 BELOW invoice, had all my calculations ready before I even walked in the door. If I remember correctly, the residual on my car at the time was 51%. I am convinced without even running the numbers that she got screwed royally, since I got $12k more car, 3k more miles, 3 months shorter lease, and my payments are only $14 a month more than hers. And my residual is way less since Hondas hold their value so well. Your thoughts? I literally want to shake the you-know-what out of her, and the people at the dealership for taking advantage. But I guess that's how they make up what they lose on customers like me. It just stinks.

Michaell

marni_carter said:

Thank you for the info. Were February numbers very much different than March? I am convinced she got screwed royally on this deal since she just goes in with the "I want to lease this car and I'll pay this much per month" offer, and does no research. She did her deal on Saturday, so it was still in February. She leased a 2016 CR-V SE 2WD, 39 months, 12k miles. MSRP on the car is $26,039 (including options she added and the $500 for the damages). She paid the first month up front and her payments are $344.08 per month. I just leased my 2016 Ford Escape in October. MSRP is $36K, and I did 36 months, 15k miles, and my payments are $358.00 per month. I negotiated this sucker down to $1300 BELOW invoice, had all my calculations ready before I even walked in the door. If I remember correctly, the residual on my car at the time was 51%. I am convinced without even running the numbers that she got screwed royally, since I got $12k more car, 3k more miles, 3 months shorter lease, and my payments are only $14 a month more than hers. And my residual is way less since Hondas hold their value so well. Your thoughts? I literally want to shake the you-know-what out of her, and the people at the dealership for taking advantage. But I guess that's how they make up what they lose on customers like me. It just stinks.

What do you want to hear? Could she have done better - certainly looks that way. But, the MF is pretty high in comparison to the Escape, so that will eat up some of the difference.

As you've noted, it helps to be prepared when buying or leasing. The more you know, the less opportunity the dealer has to manipulate the numbers in their favor.

Chalk it up to a learning experience for her. And, no reason to berate her - it's her money, and her decision.

For every prepared person that enters a dealership, there are probably 4 or 5 who aren't.

pag

Thanks in advance - Looking for March numbers for the 2016 CRV EX-L w/NAV in Connecticut under the following scenarios:

36 Months / 10,000 miles/year and
36 Months / 12,000 miles/year

kyfdx

pag said:

Thanks in advance - Looking for March numbers for the 2016 CRV EX-L w/NAV in Connecticut under the following scenarios:

36 Months / 10,000 miles/year and
36 Months / 12,000 miles/year

.00080 MF and 60% residual for 36/12.

No 10K allowance for Honda

marni_carter

Thanks Michaell. I'm definitely not saying anything to her regarding her deal. She is happy with it, and that's all that matters. I spoke to her back in the fall about letting me teach her how to gather the information she needs and how to calculate her lease numbers so that when her lease was up she could get the best deal possible, but I guess in the end she is happy with how she does it and I have to just understand that. I am curious on my own to see how much better it could have been, and am not saying anything to her once I run the numbers (at least with the March info). Nobody wants to hear how much more they are paying than they should be, or that they could have gotten a better deal. I'm hoping when its time for her next lease that she'll let me help her learn how to do it.

Thank you for all that you do on this forum and providing the answers and information that I need. Without you, I would be completely uninformed and walking in there blind when leasing a car. You've helped me now on two leases (my 2016 Escape and my 2012 Rogue) and I really appreciate you.

tjw7

hi michael. i received a quote for leasing a 2016 crv awd ex inclusive of taxes no money down for lease of 36 months, 15k yearly

" We are

looking at 278 a month with no money down" to good to be truer? the otd price was $26,371 in nyc thanks

Michaell

tjw7 said:

hi michael. i received a quote for leasing a 2016 crv awd ex inclusive of taxes no money down for lease of 36 months, 15k yearly

" We are

looking at 278 a month with no money down" to good to be truer? the otd price was $26,371 in nyc thanks

What state and tax rate? We've got two different MF for the CR-V.

What is the MSRP?