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2013 and earlier-Honda CR-V Lease Questions

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  • Hi adams1980. Honda Finance's January buy rate lease money factor and residual value for a 24 month lease of a 2011 CR-V EX-L 4WD with 15,000 miles per year are .00071 and 67%, respectively.

    Car_man
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  • Greetings moebhaai. It sounds like you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • whackedwhacked Posts: 14
    Hi Car_man,

    You are always a tremendous help. I know everyone really appreciates your time.

    Do you have the MF/Residuals for both a 2011 CR-V 2WD LX and EX, 12K/36 months?

    Thank you very much.

    Michael
  • thandamilkthandamilk Posts: 18
    edited January 2011
    Hi Car_man, and other fellow members

    I'm considering the following lease (36 month, 0 down) for a Honda CRV SE 2011 offered to me by a NJ dealership. Looking for advise on how you think this stacks up in terms of competitiveness. Also, as this is their first offer, do you believe there is further room for negotiation - either on price or options that they could throw in?

    Also, can anyone familiar with NJ dealers confirm if the Doc fee is negotiable. I've been told by a couple of dealerships that it is not.

    2011 SE AWD 36 Mth 0 Down, 12K miles per annum
    $239 per month + taxes (7.5% NJ)
    MF .00071
    MSRP quoted: 24,425
    Sell price quoted: 22,783

    Pay & Drive (Bank Fee, Reg & Title, Doc Fee, Taxes, 1st Month) = $1,400
    No Dispostion fee
    $1500 dollars worth wear & tear waived

    Thanks so much for your time. Appreciate it.
  • packer3packer3 Posts: 277
    I got my CRV at the end of Dec. 2010 at $265. 00 $700 down 12K 36 mths. out the door no other cost. Rte 22 Hillside Honda NJ. A good time to close the deal is this weekend end of the mth. I don't understand the wear and tear waiver, it's part of the lease warranty and it's important when you bring it back after 36 mths. trust me. I had a baseball size dent/crease over the wheel well, major scrapes on the bumper and big curb scrapes on the alum. wheel on my 08 Accord when I handed it back, didnt cost me anything.
  • Thanks for sharing. Is yours an LX/SE/EX?
  • packer3packer3 Posts: 277
    It's an SE.
    Honda right now in Hillside has an internet special for the CRV LX till Monday $1500.00 down $199.00 + tax which equates to about $205 a month out the door for 30 months no strings attached. Mohammed is the one of best reps down there.
  • Thanks Michael. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V LX 2WD with 12,000 miles per year are .00071 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of an '11 CR-V EX 2WD are exactly the same.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • I leased a CR-V (SE 4WD) about a week ago in LA (9.75% sales tax) with 15K miles per year. I'm paying $295 per month (taxes and all other fees included) with no downpayment other than my first month payment. I hope this helps.
  • isles1isles1 Posts: 110
    Car_man

    Would you please post the February MF and residuals for a CR-V SE 4WD, 36 months with 12K and 15K p/y.

    Thank you.
  • I'd be happy to help you out, isles1.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V SE 4WD with 15,000 miles per year are .00071 and 61%, 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
  • highlander23highlander23 Posts: 3
    edited February 2011
    My quote from a South Florida Dealership:

    2011 Honda SE FWD
    MSRP - $23,175
    Dealer quote - $21,675
    Lease 3yrs/12k miles
    Money Factor - .00061 (720+ beacon)
    Residual - 62%
    Monthly payment - $249.99
    Down Payment - $600 dealer fee + first payment + title fees (approx $1,000)
    I just wanted to test drive the car, however, they provided me this information. They even printed the screen shot from the computer.

    When I went home, i plugged in the numbers in a lease calculator and got a monthly payment of $225.

    I'm still doing research to see if it is possible to get a lower cap cost.
  • Here’s my two cents on the ‘easiest way’ to lease a CR-V. Since each model has a uniform price, you get your lowest monthly lease cost by standardizing your required lease terms. I suggest looking for: (a) 36 month term, (b)12K miles per year, (c) sales tax included in the monthly lease payment, (d) the same residual value for the given model, (e) minimal up-front money, comprising ONLY the document fee (not to exceed $75 in NY), inspection & tire fee ($22.50 in NY) and the actual cost of registration & plates (get the amount, maybe $175 in NY), (f) no other up-front fees, charges, etc. of any kind, (g) no end-of-lease fees, charges, etc. of any kind (except excess mileage and excess wear and tear) and (h) the lease must be through Honda Financial.

    Outline your required lease terms to a few dealers, and get their quoted monthly lease payment, of course confirming the up-front money is only approx. $272.50 (per above); all dealers will add the first month’s lease payment to that up-front amount. You then take the lowest monthly payment (which may require a second visit), since the vehicle and lease terms are the same. This approach lets you avoid all the fun discussions about money factor, capitalized cost, etc. You will have effectively ‘bought’ the car at the lowest price, since you’ve taken the lowest monthly lease cost, with the option to buy at a uniform price after 36 months.

    In my opinion, you should be comfortable with Honda Financial’s lease, because it specifies the following reasonable terms: (a) no disposition fee, (b) excess wear and tear coverage of $1,500 at end of lease, (c) gap insurance (ie, Honda will accept your insurance company’s check as payment in full if the car is totaled in an accident) and (d) a charge of 15 cents per excess mile.

    In comparison, Toyota’s lease is far less comforting (in my opinion), because it specifies the following standard terms: (a) $350 disposition fee (Toyota mandate), (b) no end of lease coverage for excess wear and tear (with no contractual protection, your turn-in cost could be anything), (c) no gap insurance (Toyota will supply it for $195), (e) an indecipherable arbitration clause, designed to protect Toyota if it has another recall. Thus, if you think the cars are about the same, I say choose Honda because its lease is more reasonable.
  • CAR_MAN,
    WILL YOU PLEASE POST WHAT THE FEBRUARY'S MF AND RESIDUAL FOR THE EX-L 4DR SUV, 2.4L AWD/WITH NAV FOR 36 MTH 12,000 AND 15,000 MILES?

    THANK YOU MUCH! :blush:
  • Please........someone help me out with this! I need this info fast! :(
  • packer3packer3 Posts: 277
    edited February 2011
    Pretty good I think, I got the SE in NJ $700.00 down $265.00 per month however it's four wheel drive due to the Jersey elements as you know.
    The money factor is a nice guide however when your leasing who cares. Do your homework on what other dealers are offering, Honda I found has some straight set deals every month on there leasing programs, and they are negoable in a downward method when you are ready to sign. I leased for years with GM and it the total opposite with them.
    Your getting a nice deal, I just saw a friend today and he got the EX AWD from a different dealer than I went to and he put $1,500 down and is paying $315.00 per month
  • Wow. Great Forum here.

    So my 2008 CRV EX lease is ending. I'd like to get in the same thing with a 2011.

    Vehicle has 42,000 miles on it.

    I was flying blind when I did this last time. What is a reasonable deal for 2011 EX 4WD, 15,000 per year? How should I approach the buying process?

    I'll ship steaks, tuna or beef if someone can help me out here :)
  • Car_man

    Would you please post the February MF and residuals for a CR-V EX-L 4WD w/Navi, 36 months with 15K p/y.

    Thank you so much!
  • usa90usa90 Posts: 2
    edited February 2011
    2 weeks ago I lease CRV SE 2WD for $242.99 for 36 months 12k miles per year from MD. Paid only 1st month payment at the delivery.
  • packer3packer3 Posts: 277
    At the Rte 22 Hillside NJ Honda dealear ship I have been leasing from for the past 4 years is running an internet special on the Civic, Accord and the CRV SE AWD @ $189.00 36 mth 12K miles $1,995 down (which is neogiable) include taxes and fees no strings attached. That's how I got my 2011 LX on a holiday weekend a month ago, but with only $500. down $220.00 per month. Just look up ther internrt specials. Ask for Mohammed.
  • isles1isles1 Posts: 110
    edited February 2011
    Thank you.

    I have a deposit on the following offer:

    2011 CR-V SE 4WD, 12K, 36 months (base model)

    $267 per month; first month ($267) + New York State (NYS) inspection & title ($85) + NYS tire management fee ($12.50) + registration and plates (variable NYS fee based upon vehicle) due at signing. Sales tax, bank fee, etc. rolled into payment.

    Using MF of .00071, Residual of 62% and MSRP of $24,425 yields an approximate negotiated sales price of $22,250.

    Sound good? Set to take delivery in a few weeks when the car arrives. Thanks!
  • Just picked up the 2011 Honda CR-V SE 2WD. Got the price to $21,300 for the vehicle with no options. Leased for $1000 down (first month plus tag/title/misc) down and $240/month. 62% residual and .00061 MF. Dealers original offer was $21,666 - $250/month - $1,260 down.

    The car was not on the lot when I made the deal and I had to wait a week for it to come off the ship. When the vehicle arrived, it included options that I did not agreed to: tint, a rear wing/spoiler, mug guards, tire locks and trunk cargo mat. The dealer said that since they screwed up, they will not charge me for the spoiler and tint (between $800 - $1000) and that I can keep the mud guards, wheel locks and cargo mat at their cost ($180). So I paid $180 and got all those additional accessories. It worked out since I was going to spend about $250 just to tint the car that day.
  • isles1isles1 Posts: 110
    I'd run through those numbers again. Based upon the financials you posted, the payment seems about $35 - $40 too high. Works out if the sales price was $22,300.
  • packer3packer3 Posts: 277
    edited February 2011
    If you live in NJ and read my email you lost out on a good deal at Rte 22 Honda. Also CRV's are proudly built in Ohio the SE come standard with tinted windows and rear mud guards and the dealer usually throws in the $40 wheel locks. The other options you got that are included vs the base LX is better seat cloth 6 CD cd player pocket holders on the back seat and alum. wheels thats the SE package over the base model.
    However you landed a rear spoiler and a cargo mat thats good.
  • I certainly will voldermort. Honda Finance's current base lease rate and residual value for a 36 month lease of a 2011 CR-V EX-L AWD with Navigation and 15,000 miles per year are .00071 and 58%, 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 are 2% higher.

    Car_man
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  • I am afraid to know if I got a good deal or not:

    2011 Honda CR-V EX-L
    MSRP - $29,500 (+extra dealer equipment $31,000)
    Got it at - $27,500
    Lease 3yrs/12k miles
    Down Payment - $4500
    Monthly payment - $280.00
  • packer3packer3 Posts: 277
    About $3,000 down to much
  • I am looking at a 3yr-12,000mile lease with 0 down about 370 a month list on vehicale 30500ish.
    does this look like a good deal?
    28,500 purchase price- is purchasing after 3yrs look like the better way to go?
  • I was just quoted this.....does it look right?

    "2011 CRV EXL-Navigation 4WD
    American Honda Finance
    12k miles/year
    1st mth and DMV fees due upfront at signing ($357.34 + NYState motor vehicle fees)
    residual $17,791
    MF .000710
    $357.34 per month for 36 months. "

    It looks a little high for a $27,519.00 price tag. Does this look correct? Anyone?
  • Hi hopkinspat. The easiest way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the model that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor.

    If I was in the market for a CR-V right now, I personally would shoot for a selling price of around $500 over invoice. This vehicle's buy rate lease money factor is .00071.

    Car_man
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