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2013 and earlier-Honda CR-V Lease Questions

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  • roosaroosa Posts: 9
    Thanks again CarMan....leased a new 06 CRV-LX 2wd thru Honda Finance...again (see message 282 of Accord discussions) you were correct to the penny. Hopefully this CRV will last longer than the Accord..Best wishes and just a reminder to readers....whatever you lease...be sure it has side airbags and an air curtain...J. Roosa
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure can, soylentgreen. Here you go. If you were to lease a 2006 Honda CR-V SE through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00144 and 59%, respectively. Honda's special lease for this truck is only available for terms as long as 36 months, so you don't want to lease it for longer than that. If you do, its money factor will nearly double.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, kingmob.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, fireboss2. I'm glad that I was able to help you out.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, roosa. I'm glad that the payment that I came up with matched the one that you were quoted. It sounds like you were in an accident. I'm glad to hear that you are
    OK. Enjoy your new CR-V.

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  • ics88ics88 Posts: 9
    Hi,

    What is the current money factor & residual value of the 06 SE with 15K/year and 36 months lease?

    The dealer quoted me $24,000 before tax, title , license.

    BTW, I'm in Texas.

    What would my monthly lease payment be? Assuming with no money down other than the security deposit and acquisition fee.

    Do I have to pay the tax upfront or that would depend on my credit?

    Thanks.
  • blueiedgodblueiedgod Posts: 2,803
    Don't have answers to other questions, but the tax will depend on your state. Tax has nothing to do with your credit. Money factor does. If your credit score is 700 or more and you have decent income to expense ratio you will qualify for whatever the special rate is.

    In some states you pay tax upfront on the whole vehicle. In other states you pay tax on the payments.
  • To tag onto the quesion above, I too would like the residual rate for an SE model but the term would be 24 months and 12k miles/year.
    Thanks
  • blueiedgod,
    I realize that this post is over a month old but I'm hoping you can answer this question. I too have sold my leased cars at end of term and turned a profit. Normally, I have the buyer send the payoff to the lease company to get the title and then the lease company sends me the overpayment (profit). This process also helps me avoid the sales tax if I were to buy the car myself ahead of the sale to a buyer.
    Now with my Honda lease about to run out, I want to perform the same process since I have some equity in the car. The problem is, that AHFC wants me to use a dealer to act as the middleman. A potential buyer would have to pay a dealer who in turn would buy the car and then turn the title over to the new owner.
    This seems cumbersome to me. What did you do for your lease end buyouts?
  • Anyone know what the difference is between buying the car at the end of a traditional lease and This

    I'm just wondering if any of the depreciation/finance are any more or less during the term and if the residual rates are the same as traditional leases....
  • blueiedgodblueiedgod Posts: 2,803
    blueiedgod,
    I realize that this post is over a month old but I'm hoping you can answer this question. I too have sold my leased cars at end of term and turned a profit. Normally, I have the buyer send the payoff to the lease company to get the title and then the lease company sends me the overpayment (profit). This process also helps me avoid the sales tax if I were to buy the car myself ahead of the sale to a buyer.
    Now with my Honda lease about to run out, I want to perform the same process since I have some equity in the car. The problem is, that AHFC wants me to use a dealer to act as the middleman. A potential buyer would have to pay a dealer who in turn would buy the car and then turn the title over to the new owner.
    This seems cumbersome to me. What did you do for your lease end buyouts?


    I never leased per se. I am my own lessor and lessee. Sorry, I don't know what the procedure is with AHFC.
  • rws0131rws0131 Posts: 27
    Does anyone happen to know the 24 and 36 month Residuals and Money Factors for a 12,000 mile a year lease? Any help would be greatly appreciated in the next day...Thanks!
  • wantg35cwantg35c Posts: 3
    Car_man, looking at a lx cr-v awd, 36m 12k, what are the base mf and res for april? Thanks in advance. msrp is 22545, selling price 19799.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings ics88. If you were to lease a 2006 Honda CR-V SE 4WD through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00144 and 57%, respectively. I'd be happy to estimate what your payment should be on the CR-V that you are considering leasing, but in order for me to do so I need you to provide me with its full MSRP.

    Sales tax is calculated differently, depending upon what state one is in. I am not personally familiar with how sales tax is calculated on leased vehicles in Texas right now, but you may be able to find out by visiting one of the following sites: Texas Department of Transportation or Texas Taxes.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi brandloyal. If you were to lease a 2006 Honda CR-V SE through Honda Finance right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00144 and 65%, respectively assuming that you qualify for its "Super Preferred" (have a credit score of 710 or higher) credit tier and pay a security deposit.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey brandloyal. Honda Finance's "Leadership Purchase Plan" is what is known in the industry as a balloon note program. Balloon notes are very similar to leases in that they provide consumers with low monthly payments and the option to purchase their vehicles at the end of a specific period of time for a predetermined amount of money. The main difference between leases and balloon notes is that with leases the bank's name is on your vehicle's title and with balloon notes yours is. Leases are much more popular than balloon notes. Balloon notes are really only used in states like Texas, in which for some strange reason consumers have to pay less tax on balloon notes than they do on leases.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello rws0131. Honda's residual values for the CR-V vary depending upon which exact model you are interested in, so I need you to be more specific about the truck that you want in order to tell you what its residuals should be like. I can tell you though that Honda Finance's current buy rate lease money factor for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit is .00144 for all 2006 CR-V models.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, wantg35c. If you were to lease an '06 CR-V LX 4WD through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00144 and 61%, respectively.

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  • smith1smith1 Posts: 283
    The reason balloon note financing plans such as the LPP are better from a sales tax standpoint in certain states (Texas and Illinois are two such states) is that these states collect sales tax on the full value of a leased vehicle at the onset of the lease (even though only a part of the vehicle's value is used during the lease) and then, if you buy the vehicle at the end of the lease, they collect sales tax AGAIN, on the used vehicle purchase price. Their flimsy justification for this double taxation is that there is a change of ownership and title (from lessor to lessee) when a leased vehicle is purchased by the lessee at the end of the lease. This change of ownership/title doesn't occur under the LPP therefore sales tax is not assessed a second time.

    Therefore, if you live in one of the states where leases are taxed this way, AND there is a significant chance you will want to purchase the vehicle at the end of the initial term, the LPP is better than a traditional lease -- assuming that the monthly payments and buyout price are similar. The LPP has no sales tax advantage over a traditional lease if you don't buy the vehicle at the end.
  • dubblernrdubblernr Posts: 1
    CRV LX AWD (basic AWD)

    282.00 a month (Includes EVERYTHING)
    36 months
    12k miler per year
    0 money down

    Thanks...
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