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2013 and earlier-Honda CR-V Lease Questions

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  • joppjopp Posts: 5
    edited April 2010
    :confuse: Hi everyone. I am looking to lease a EX-L AWD with 20,000 miles/year x 3 years

    I can't figure out what I should be paying per mth on a lease.

    I can't find the residual and the MF should be super-preferred. Is this still at .00156

    I am in MA so 6.25% tax

    Can anyone help? :confuse:
  • tbadtbad Posts: 2
    For a 3 year (12(k) per year lease) dealership is telling me that the residual percentage on the 4wd exl nav model is 57% (states that the 61% is for the ex model); List is $30,455; the selling price is $28,463; the money factor is .00156; acquistion fee is $595; $265 misc fees(doc fees/title). They want $442.45 per month and $442.45.
    The residual value of the vehicle is $17,359.

    Tell me please what is wrong with this picture. Thanks in advance
  • swimhc01swimhc01 Posts: 1
    edited May 2010
    Hello-

    first time posting

    just leased a CRV EX (AWD) 12K/year from Tarrytown Honda in Westchester.

    traded in a 2003 sentra with 125K miles on it- they paid off what we owed (740.00) and gave us 2000 towards dealer fees etc. So in other words, we walked out of there with a pretty nice car and only paid for DMV fees. Money Factor was low: .00135 I believe. The value of the car after 3 years will be 15K

    payments: 319/month + 19 tax (ct sales tax) for a grand total of 338/month.

    I feel like I got a good deal, can anyone confirm this for me so I can stop worrying about it?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jopp. Through today, May 3rd, Honda Finance's buy rate lease money factor for a 36 month lease of a 2010 CR-V is indeed still .00156. Honda is scheduled to introduce its new May lease program some time tomorrow. It's difficult to say whether it will be different than today's program.

    I'd be happy to use Honda's current lease program to work up a sample payment on the vehicle that you are interested in for you. According to my calculations, if you were to lease a 2010 Honda CR-V EX-L AWD with navigation that has an MSRP of $30,455 and a selling price of 28,871 ($500 over invoice) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $408 assuming that you qualify for its top aka "Super Preferred" credit tier.

    15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tbad. The money factor and residual value that you were quoted are correct. The selling price that you were quoted looks great as well. As you seem to be aware, the monthly payments that you were quoted do seem to be a little on the high side. I just worked up a payment on this truck using the information that you provided, and I came up with a zero down, pre-tax payment of $406 with the acquisition fee rolled into the cap cost instead of being paid at signing Granted, sales tax will add some to the payment if you're in a state that charges it, but I doubt that it would at $40 per month.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • quad1quad1 Posts: 9
    MSRP: 28455.00
    Selling Price: 26615.22
    Residual: 17073.00
    MF: .00218
    Cap Cost: 27435.22
    Sales tax 9%
    $0 down
    36 months
    12000 miles
    $419.51 per month

    This includes front splash guards, tailgate spoiler, and hood air deflector installed

    Please give me a thumbs up or down...need to decide... :confuse:

    Thanks
  • jocintajocinta Posts: 1
    I'm interested in leasing an EX-L and would like to know what the MF and Residual Factor is likely to be for this model for the month of May.
    Can you also confirm that this MF is applicable to all CRVs and that it would be applicable to Florida.
    If I have a trade in in excess of the 20% MSRP limitation what are my best options?

    Thanks
    Jocinta
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi quad1. Honda enhanced its lease program on the 2010 CR-V a couple of days ago. Its new buy rate lease money factor for it is .00200 for consumers who qualify for its top credit tier. It's not much better than the previous factor, but every little bit helps ;) .

    The selling price that you were quoted for the CR-V that you're interested in looks great. It's equivalent to around $100 over invoice.

    Just make sure that the dealer switches to the new money factor and you're in business.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Jocinta. Honda Finance's new, enhanced buy rate lease money factor and residual value for a 36 month lease of a 2010 Honda CR-V EX-L AWD with 15,000 miles per year are .00200 and 58%, respectively.

    This is a national lease program that is available in all states on all CR-V trim levels.

    If you have equity in your trade, you will be better off having the dealer give you a check for it rather than using the proceeds from your deal as a down payment for your lease.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • lfernaldlfernald Posts: 3
    Just leased a 2010 CRV LX on Saturday with 0 down and 12k a year payment was $317 per month.
  • Hi, sorry if this was covered earlier but can someone post the current MF and residual for the EX model on a 12K mi/yr, 36 month lease (super preferred credit tier)? Last numbers I believe I had seen were .00156 and 62%, respectively. Thanks.
  • klenjklenj Posts: 23
    Parents are looking to lease a LX.. Does the $317 include tax? What state are you in?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hondaoracura. Here's the information that you're looking for.

    Honda Finance's current buy rate lease money factor and residual value for a 3 month lease of a 2010 CR-V EX 4WD with 12,000 miles per year are 00200 and 63%, 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
  • epearlepearl Posts: 1
    I'm new to this topic and was hoping to get some advice on a lease. I'd like to lease a Honda CRV EX-L with Navi for 36 months and 21,000 miles per year. The transaction is in NJ (7% sales tax). Could someone estimate what a good lease price would be for a sign and drive?
    Thanks
  • josewjosew Posts: 1
    First time poster -- I've read back a couple of months, but haven't seen much posting lately about lease deals. I'd appreciate any help / recent experience if people have it and apologize for the broad post.

    Dropped by a dealership last week and was told there aren't as many Honda incentives for CRVs as for Accords/Civics. Told best I could hope for on a 3 yr, 12k lease with 0 down would be $340 a month (all inclusive) on the EX or EX-L. State tax is 8.25%. Any thoughts or suggestions? Should qualify for the super-preferred rate. Many thanks in advance, will definitely share final result for the board.

    Best,
    Jose
  • MSRP: 27275
    roof rack: 404.47
    discount: 1495.97
    Sell Price: 26193.50
    Trade in equity: 889
    Balance due after trade in and fees: 28060.25
    cash down: 626
    36 mnth 12k mile monthly =$338.39 and after tax = $368

    Should I haggle or is this acceptable?

    location: costa mesa, CA
  • cnote2cnote2 Posts: 63
    looking for 39m mf and residual on ex-l awd and ex-l awd w/nav. thanks
  • Hi, I have a 2007 CRV EX with 29K that I am either going to purchase or lease a new one. I'm new to this forum and would like some advice. Can someone tell me what info you need to do this? I can did out my lease papers to give you info from those if needed. Looking to do this in late July or late August. Thanks so much. Wish I'd known about this site in 2007.
  • I just leased a 2010 ex-l yesterday (july 10). I traded in my 2007 honda pilot lx with 29000 miles. The payoff was 15,611 and they gave me 16500. So, that was a credit of 889 towards my lease (not sure how that played into my lease). The mf for excellent credit is currently .00137 (ahfc) and the residual for 36 month 12K mile lease is 58% of MSRP = 15819.50. The MSRP is 27275 (includes 780 dest fee). My agreed upon value of CRV ex-l was 25407.32 then add in lease acquistion fee of $595 (set by honda) and my GROS CAP COST was 26003.32. CAP reduction of 392.47 brought by adjusted cap cost to 25610.85 (used in calcing base monthly). So, my base monthly lease payment is 328.74 and after tax it's 357.50. The only cash I gave them to drive off was my first months payment of 357.50.

    Hope that helps.
  • delta737hdelta737h Posts: 603
    edited July 2010
    oppielight,

    Your 889 trade credit should have been used as a non-taxable cap reduction. I see that only 392.47 was used to reduce the gross cap. This seems like an odd-ball amount... where did that come from? It looks like a calculated number. And, what happened to the 889 net trade-in credit? It doesn't appear to have factored into the lease. If not, your base payment should be 302.83 which is 25.91 less per month... that's a fairly significant peice of change!

    And, please, don't let the dealer tell you that they deducted it from the sell price to get the Agreed Upon Value of 25,407.32 because that's not going to fly at all. Trade credits should be itemized and disclosed in the lease agreement.

    John
  • I thought there was something funny there. But I didn't notice until after I got home. I was super cautious while I was there but I still got the feeling something was amiss. I appreciate you noticing. I thought I caught everything but I guess not. This is the 2nd time i've leased. I was determined not to get hoodwinked this time but I may have. Is it possible to send you a copy of my lease agreement. Maybe you can tell me what kind of shenanigans they pulled. I don't know if I will have any recourse but it will be good knowledge for 3 years from now. http://docs.google.com/fileview?id=0B3UydSp_cf0XYTdmYTBkMmItYzcwMS00ZTIzLWJhMWEt- YzI4NWUyNzc0ZWIw&hl=en&authkey=CJiewa4N

    Please cut and paste link to see my lease doc. If this in inappropriate I apologize. I will remove the doc from online as soon as you let me know you have looked at it. Thank you in advance for you input and time.
  • I figured out the discrepancy - which wasn't a discrepancy at all. The cost of fees leads to 825.19. The difference between what I owed in fees and the sum of my trade in equity and cash down is 392.47+34.34(tax). The 392.47 was my cap reduction after paying fees/taxes. I think all is well. Thanks John.
  • delta737hdelta737h Posts: 603
    Okay, great!

    Good luck!

    John
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cnote2. You definitely are better off going with a 36-month lease over a 39-month lease. Honda's lease support on most models is only available for up to 36 months.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Honda CR-V EX-L AWD with 15,000 miles per year are .00137 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    If you add navigation to this truck, its money factor is the same, but its residual value drops by 1%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • anne28anne28 Posts: 1
    I just leased a CRV LX in Urban Titanium Metallic for 36 months, 12,000 miles. The sales Price was $21,000, monthly payments are $273 Plus tax (9.75% in California) and I put down First month's payment plus DMV fees, which came to $688. The first dealer I went to only had the LX in black on the lot and was going to charge me $600 more to get the color I wanted. So I went to another dealer who had all colors in stock for the same price. But I am still wondering if I could have done better.
  • veno12veno12 Posts: 3
    How does this lease deal sound? 2010 crv ex 4wd 36 month lease, 2500.00 down, 15,000 mile allowance--$280.00 a month. It seems a little high, but I like the car! Anybody care to opine? Thanks Alot
  • colleen178colleen178 Posts: 7
    edited July 2010
    I'm getting ready to buy or trade my 2007 CRV EX lease. Can someone tell me if the lease deal I made was good in 2007 and should I buy this car or trade for a new one. Thanks so much for any help. Not sure what info you need so excuse me if I give you too much.

    $24,595 Cap Cost
    $3676 Cap Reduction
    $20,918 Adj Cap Cost
    $15,279 Residual Value
    $5638 Depreciation
    $3609 Rent Charge
    $9547 Total Payments
    $265 for 36 Months

    Itemization amount due at lease signing.

    $3676.84 Cap Cost Reduction
    $294.15 Sales Tax on Amount Paid in Cash/Downpayment
    $265.21 1st Payment
    $71.25 Reg Fee
    $12.50 NY Waste Tire Fee
    $45.00 Doc Fee
    $763.80 Sales Tax/Upfront Tax
    $5128.75 Total

    Trade in was a paid in full car that they gave me $5128.75 so I walked out of the Honda dealer with a new car and no money out of my pocket. Was this a good deal or did I get ripped somehow? I was so happy with a $265 payment I'm not sure I paid as much attention to the deal as I should have. Now that I am ready to buy this car or trade it I want to be very well prepared. Thanks again for any and all help.
  • blueiedgodblueiedgod Posts: 2,803
    Trade in was a paid in full car that they gave me $5128.75 so I walked out of the Honda dealer with a new car and no money out of my pocket. Was this a good deal or did I get ripped somehow? I was so happy with a $265 payment I'm not sure I paid as much attention to the deal as I should have. Now that I am ready to buy this car or trade it I want to be very well prepared. Thanks again for any and all help.

    What did you trade in? Was it worth more than $5128.75 they gave you for it?

    I assume the buy out is at $15,279. See what other CR-Vs with 36,000 miles are selling for. It sounds like a good price to me, but I have not shopped used cars.

    The only thing to think about is that the sum of total payments is $30,000.

    Are you buying it out with cash or financing? Over what period of time? In a few years you may end up with a $32,000 vehicle that is 5 years old.
  • Car I traded was a Mazda Tribute 2001 with 100K. If I sold myself I wouldn't have gotten much more for it and didn't want the hassle of selling. Was afraid I'd sell to someone then something major would go wrong and I'd feel bad so just traded. If I buy my 2007 CRV I will pay cash, no finance.
  • Just went to dealer and they pi$$ed me off! Tried to give me $16,200 for my 2007 CRV with 29K. Then they wanted me to give them $3600 dp for a monthly payment of $252. Residual value was 63% which made buy out $16K+ at end of lease. They should have offered me at least $17,400 for my trade and I think residual should have been 57% plus they were charging me full price for car. I got mad at finace guy and walked out. He was a jerk. My salesman is a good guy and I felt bad for him. Finance guy killed the deal. I'm going to another Honda dealer today or tomorrow, hope to do better. Any words of advice from anyone before I go to the next dealer? Thanks!
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