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2013 and earlier-Honda CR-V Lease Questions

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  • I am looking to lease a Honda CR-V in the next 2 months....Do you think it is better to lease RIGHT now or wait till after the new year? Does anyone think the rates will get worse?
  • bigdadi118bigdadi118 Posts: 1,207
    For such condition of economy, it is getting worse before it gets better, so wait a little is on your side of advantage.
  • I brought my 2005 CRV- EX 4WD to the dealer to see what kind of deal I could get. It was in a major accident 2 years ago (hit by drunk driver while parked) that cost about $15,000 to fix. The car was only 2 years old at that point and really hasn't been right since. The dealer offered me $11,000 on the car (less the $8000 left on note) which I used for a down payment on a new lease for a 2009 CRV-EX-L 4WD. I've never leased before and wasn't entirely clear on what I was getting into.

    The agreed upon value of the new car is $28,480.26 (includes $600 for alarm system). Including taxes and everything I'm paying $441 for 48 months. From what I've looked at online, it's not the worst deal, but definitely not the best. Any thoughts? The residual value is $14160 and the money factor is .0036. I live in NYC so the sales tax is 8.25%
  • bigdadi118bigdadi118 Posts: 1,207
    money factor is .0036 is surely high

    alram system 600 can be negotiated down to 350... I told the Finance guy I can get a Lojack for 500 he immediately offer me 350 if I take it now.
  • Honda is offering this lease below: is if this is a good deal and if so, can I negotiate a better deal? IF so, how? I'm ready to lease any day now.
    Thanks for your help!

    2009 CR-V Featured Standard Lease
    $249.00 per month for 36 months. $2,999.00 total due at signing.
    Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.
    [Show Details] Show Details
    Request a Quote
    FEATURED LEASE: Closed-end lease for 2009 CR-V 2WD LX Automatic Transmission (Model RE3839EW) for $249.00 per month for 36 months with a $2,155.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,999.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee, capitalized cost reduction, with no security deposit. Security deposit waived in featured lease example. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.
  • How did I do? Just leased a 09 crv-ex for $397 in Central Florida. 39 months, 15,000 miles per year with 0 out of pocket cost. 12,000 miles just was not enough for the commuting I do. They also paid off my last 3 payments on my old lease and paid the first payment on the new lease.
  • I know that all companies have new "dealer help" come new year time.....If anyone finds out what the leases look like for 2009 Jan...please post...Should be out this coming Monday

    HONDA CRV- EXL
  • Hi dean27. Savvy consumers who live in an area that has a decent level of competition are almost always able to negotiate lower selling prices than the ones that manufacturers' official advertised lease payments are based upon. If I was in the market for a 2009 CR-V right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice, which would essentially be right at or slightly under invoice once the $500 dealer cash that Honda is currently providing on this model is taken into account. A lease based on this price would have a lower lease payment than the one that is being touted in the ad that you mentioned.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi sassydog. Honda introduced a new $500 dealer cash incentive on the 2009 CR-V in January. Taking this cash into account, I would not be surprised if one was able to negotiate a capitalized cost that's at, or even slightly below dealer invoice for a lease right now.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda CR-V EX-L 4WD with 15,000 miles per year are .00280 and 57%, respectively.

    Good luck in your quest for a new ride and let us know if you have any other questions.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Carman is that a good rate lease money factor?
  • blueiedgodblueiedgod Posts: 2,803
    I brought my 2005 CRV- EX 4WD to the dealer to see what kind of deal I could get. It was in a major accident 2 years ago (hit by drunk driver while parked) that cost about $15,000 to fix. The car was only 2 years old at that point and really hasn't been right since. The dealer offered me $11,000 on the car (less the $8000 left on note) which I used for a down payment on a new lease for a 2009 CRV-EX-L 4WD. I've never leased before and wasn't entirely clear on what I was getting into.

    The agreed upon value of the new car is $28,480.26 (includes $600 for alarm system). Including taxes and everything I'm paying $441 for 48 months. From what I've looked at online, it's not the worst deal, but definitely not the best. Any thoughts? The residual value is $14160 and the money factor is .0036. I live in NYC so the sales tax is 8.25%


    Ouch!!!!

    $441x48 =21168 + $3000 down ($11,000 for 05 CR-V - $8,000 owed) = $24,168 in payments over 4 years for a $28,480 agreed upon price.

    Factor in the $14,160 residual and you have effectively paid $38,328 for the vehicle.

    The worst part is that after 4 years and $24,168 in payments, you have no vehicle!!!

    $441/month with $3,000 down on a 4 year lease is luxury vehicle territory.
  • Not particularly. .00280 isn't bad, particularly when it is combined with solid residual values, but it's equivalent to an interest rate of around 6.7%. Many manufacturers have money factors that are much lower than that.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • phisherphisher Posts: 175
    Don't feel to bad about what you paid. My neighbor who is 32YO and totally illiterate with computers because if he gets one people will be able to see in his house according to him. Asked me to handle his negation on his next truck (F-150) I asked him what he pays currently for his lease. He said because he is a ford gold club, red carpet lease holder he gets a special deal for his truck his 3rd leased one and only has to pay $519/month on his 36 month lease. It was only when I bought in 15 pages of auto trader with trucks exactly the same as his with an asking price of 12-14,000 that he realized what he could get for his $. Fool me once shame on you. Fool me twice shame on me. My guess is next time you will be able to do much better and you didn't do that bad at all.
  • I just Leased a CRV for 39 months 12k miles ZERO down.Only had to pay first month lease payment and DMV payments which I rolled into the lease payments. My Lease payment for the NEW 2009 CRV is $360 . Did I get a decent deal? My credit isn't the best but I don't think it changed the deal that much. I knew going into the deal that the HOnda CRV have very bad lease programs but I like the risidual value of the CRV. Let me know what you guys think?
  • Here's the deal on a 09 CR-V EX I am being offered on the 3rd round of pricing. It's my first lease and the best I've gotten from the three dealers I've spoken to. I am in Hawaii, so there are fewer dealers than you might find in a major city on the mainland. Is there more room to negotiate to my benefit?

    MSRP 24,015
    Cap Cost 22,658
    Money Factor .0028
    Term 39 months
    Residual 14,409
    Monthly $311
    OTD $1794+Tax

    Josh
  • blueiedgodblueiedgod Posts: 2,803
    It is not a bad deal for a CR-V EX AWD.

    You did not indicate which CR-V you got.
  • It is the 2-wheel drive model. What numbers should I be looking at on a 2WD?
  • I have the following offer from a Honda dealer in suburban Atlanta:

    39 months at $306 + tax for an '09 CR-V LX
    1st month's payment due at signing
    12k miles/yr.
    MSRP = $21,915
    Sales price = $19,854
    Residual = $12,929
    Money Factor = .00280

    Any comments on this deal?

    Thanks in advance.
  • Hi - I was wondering If I got a good deal or not.

    It has everything but no Navi, and I am paying 355 per month with $3000 down. I also got the optional backup sensors, and mud guards which list for about 900. I purchased the car in a dealer in Northern New Jersey. The lease is for 15,000 miles per year. Itis based on an MSRP of $25,000.

    Thanks
  • That sounds pretty good given the 15K

    In Dec. I looked and got a deal on a CRV EXL 12K 39 months for $386 per month with 2506 due at signing, also with back-up sensors NO NAV. I turned it down and decided to wait until the new year and better offers. I have heard Honda is trying to be more competitive with the lease program, but they don't compare with other makers....If you go to other car dealers thay are giving money away....I don't know why Honda is so slow to react to the economy....I think it will hurt them long and short term.
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