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2013 and earlier-Honda CR-V Lease Questions

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Comments

  • ozbilozbil Posts: 1
    Hi,

    Would you mind telling me which dealer you got the quote from.

    Thx.
  • toledo73toledo73 Posts: 58
    I get 269.14using the iPhone lease app and assuming 8.25 sales tax, as it is here in San Jose. But at sb Honda I was quoted 20,500 selling price
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi wujohn. The numbers that you were quoted are indeed correct. If you provide me with this car's MSRP and selling price I would be happy to work up a payment on it for you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ckapckap Posts: 1
    Boston lease question - does this seem like a reasonable price for a 2011 CRV EXL?

    $1800 total out of pocket for the inception fees: $125 reg; $299 documentation; $595 acquisition; $790 Destination.

    12k miles/ 36 months $300/mo + tax
    12K residual is 60% @ $17,343
  • Hello,
    I recently received the following quote for a 2011 CR-V LX AWD on a 36 month 12,000 mile/year lease.
    MSRP: $23,725
    cap cost before reductions: $22,687
    money factor (this is the current Honda Financial promotion): 0.00078 = 1.872% APR
    residual value: 0.62
    downpayment: $1,500
    my taxes are roughly 6% (state of MO)
    acquisition fee: $595 (standard Honda fee)
    dealer's "fee": $199 (seems standard across dealers)
    adjusted net capitalized cost: $21981
    total monthly payment with taxes/fees/acquisition fee/dealer's fee rolled into the lease: $251.49
    Total payment made @ lease beginning: $1888.99 ($1,500 down + first month's payment + taxes)

    I am now trying to get other dealer's to match this quote. They all have agreed to match it. The first dealer advertised it as a "special" but I realized that was because they were omitting the $595 + $199 fees from the lease and accounting for them as upfront payments in addition to the $1,500 downpayment. Calculated this way, their "advertised" special was $179 but this did NOT include taxes. The quote I provided is actually from a second dealer that agreed to provide something in writing. Even if I decide to go through with this deal, I'm definitely more likely to go there than the first place because at least they provided something in writing.

    Later on, I realized that this deal is not so special, particularly after all other dealers I contacted were perfectly happy to match it.

    How much wiggle room is there to bargain?

    I have to say that trying to get ANY of these dealers to email me a quote has been EXTREMELY DIFFCULT. It's worse than pulling teeth. The first place I visited in person refused to provide me with anything written. They pulled out a business card to have me write down some of the information. They would not provide the MSRP or any of that until I kept bugging them. They said that this information was so "fluid." I brought in a Consumer Reports-produced tally sheet and the dealer said that it was bonkers and that it rarely matched how real life deals go so they didn't even bother filling it out for me. I was quite disappointed and left the dealership. I am trying my negotiating skills over the email now.

    Most dealers would give me only the monthly payment over email. It's almost as if they are afraid to provide anything in writing. I wouldn't give out my phone # to anyone because I'm not wasting my time with phone conversation sales pitches from 8 dealers. And of course they all tried to set up "phone appointments" with me. I told them no and some of them stopped responding after that. This is so dishonest and ridiculous.
  • delta737hdelta737h Posts: 603
    The $22,687 sell price is way too high. That needs to come down by about $2,700. So, it's no wonder they all matched it.

    John
    The AutoLeaseGeek
  • $20,000 sounds great for a price. Nevertheless, when I looked up the TrueCar.com price for the 2011 CR-V LX 4WD, it listed $22,117 as the dealer price. Perhaps this price is not an accurate reflection of all the dealer kickbacks and incentives from Honda?

    I am going to be firm and ask them to lower the capitalized cost price.
  • Dear stlandroidfan,

    delta737h has helped a lot of us here on the forums over the years, and his advice is always solid!

    The only thing I can add is to check out the the lease configurator at Weymouth Honda HERE (already set up for your 6% tax). You can probably use this info in your negotiations.

    Let us all know how things go, ok? GOOD LUCK!
  • delta737hdelta737h Posts: 603
    You need to check a variety of sources for pricing data (edmunds, kelly blue book, etc). The idea is to estimate dealer cost, which no one knows, not even sales people, except for the dealership owner and a few others. You want to start with published dealer invoice and, then, deduct holdback and any cash to dealer incentives. Then, knock off another $500 for good measure. Next, comb the edmunds forums to see what others are paying and make appropriate adjustments if necessary. That's where to start negotiations.

    John
    TheAutoLeaseGeek
  • stlandroidfanstlandroidfan Posts: 3
    edited July 2011
    I am not at all doubting delta737h's info. In fact, I was ecstatic when I read his post. It made me realize that the first dealer's $179+taxes+fees deal was a crap deal. I always had suspicions, but now I am glad that someone much more knowledgeable than myself confirmed that my suspicions were true.

    I just want to make sure that the dealers don't flip out on me. I'm going to try and negotiate the cap cost down to $20,000. If they say no, I'll walk away.

    I wish they had a law whereby dealers would be required to share all the lease calculations with the customer. Sort of like the 'truth-in-lending' statement with home mortgages.

    I also read that in many cases, customers will negotiate the cap cost down but then the dealer will turn around and use the MSRP in the monthly cost calculations. They will hide that from the customer. That's why I want to get all the info from the dealers so that I can do the calculations myself.
  • delta737hdelta737h Posts: 603
    contract build,

    Many thanks for your kind words.

    All the Best,

    John
  • delta737hdelta737h Posts: 603
    slandroidfan,

    Currently, the FRBB's Rgeulation M, governing leases, does not require money factors/interest rates to be disclosed. However, as part of your documentation package and, in addition to your lease contract, ask the dealer for a copy of the LEASE WORKSHEET which every Honda dealer must submit to AHFC. This is a computer genrated document that discloses all pertinient data that you'll need for all calculations and then some. The calculations are straight forward.

    Good luck!

    John
  • postytsxpostytsx Posts: 15
    Hi Car_man,

    Trying to help my niece with a lease, and I'm wondering if you can provide me with the August Lease Rates (Residual & MF) for a Honda CR-V EX-L 2WD. Interested in both 12,000 and 15,000 miles per year for 36 months.

    Thanks!
    PostyTSX
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, PostyTSX. Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V EX-L 2WD with 15,000 miles per year are .00078 and 57%, 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 year would be 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • postytsxpostytsx Posts: 15
    Thank you so much Car_man! Truly appreciate the help.
  • junobearjunobear Posts: 22
    Hi Car_man,

    Similar but slightly different: I'm looking for the EX-L 2WD w/NAV; 12,000 miles a year 36 month lease.

    In California. What would the numbers be?

    (It's been a few years since I've been here on Edmunds!)

    Thanks!
  • jmsnycjmsnyc Posts: 6
    edited August 2011
    Don't have all the details yet - trying to help mom

    she is getting $375 a month for Ex-L with Nav for 36 months 4wd, 12k miles/year

    She currently has a lease with a few months left and thats going to offset taxes fees etc.

    is that too high??? also is higher residual value better if you do not plan on buying the car at the end?

    also, they didnt tell her
  • reklakreklak Posts: 1
    Looking to get a good price for a 2011 Honda CR-V EX with no additional options - the MSRP I think was 26255 on the website. Factor in NY taxes of 8.625 taxes and 15K miles a year for 36 months. I am figuring 383 is too high but can someone break it down for me?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome postytsx.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome back junobear. Don't be such a stranger :). Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V EX-L 2WD with Navigation and 12,000 miles per year are .00078 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • junobearjunobear Posts: 22
    Thanks, Car_man. It's amazing how flexible the pricing can be, in my experience this last week or so. My advice to anyone is to shop around. Deals can absolutely be made -- and I'm pretty thrilled with the one I ended up making.

    Sidenote: maybe I'm in the minority, but I really did enjoy those Premium reports that edmunds.com once sold. They helped me consolidate my information, and, at $10 each, I thought a good deal. Not sure when you guys stopped doing them, but glad to see edmunds.com still looking hearty.
  • tjw7tjw7 Posts: 9
    how does this lease deal seem for a 2011 crv-ex-4wd 2011 CR-V 4WD EX Automatic Transmission
    MSRP $26,255.00
    Sale Price $24,102.16
    Residual $15,753.00 (60% of MSRP1)
    Financing 0.00078 money factor
    Mileage 15,000 Miles/Year
    Term 36 Months
    Credit Preferred (709-660)
    Monthly Payment Due at Signing
    $280.00 $519.00
    $297.50 including 6.25% tax $536.50 including 6.25% tax
    If you're curious how we arrived at this payment, check this box to see our detailed view.
    The amount due at signing consists of $239.00 documentation fee and $280.00 first month's payment.
    dealer is in weymouth,ma and i am in sullivan county,ny
  • sirk98sirk98 Posts: 7
    Am thinking about a Kia Soul, but stumbled into a Honda dealership and walked out with following offer (time to consider the CRV, I think! Not thrilled about gas mileage diff, tho):

    Lease term: 36 months
    Mileage: 15k

    2011 CRV-SE 4WD
    Purchase price: 23410
    MSRP: forgot to note :-(
    Residual: 60% of MSRP
    Money factor: .00078


    $1266 due at signing (think it was $695 acquisition fee, $300 dmv fee, $289 first pmt)

    $289 a month lease pmt including NYC taxes (8.875%)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome junobear. I'm glad that you're happy with the deal that you were able to make.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • tjw7tjw7 Posts: 9
    dear car man, did i insult you? hope not but never got a reply to the following lesehow does this lease deal seem for a 2011 crv-ex-4wd 2011 CR-V 4WD EX Automatic Transmission
    MSRP $26,255.00
    Sale Price $24,102.16
    Residual $15,753.00 (60% of MSRP1)
    Financing 0.00078 money factor
    Mileage 15,000 Miles/Year
    Term 36 Months
    Credit Preferred (709-660)
    Monthly Payment Due at Signing
    $280.00 $519.00
    $297.50 including 6.25% tax $536.50 including 6.25% tax
    If you're curious how we arrived at this payment, check this box to see our detailed view.
    The amount due at signing consists of $239.00 documentation fee and $280.00 first month's payment.
    dealer is in weymouth,ma and i am in sullivan county,ny
    thanks
  • kfitzykfitzy Posts: 2
    I hate to sound stupid but if the monthly payment on a lease is what I care about, (I've seen the deals others have gotten)do I need to know all that other stuff? I'm going to test drive one tomorrow.
  • Hi I just got quoted $330ish a month for a lease for the Crv EX-L with no navigation and " 0 " out of pocket I am hoping to get a little more knocked down but not sure. I was told they had a bunch of 2011 CRV'S coming in next week, they have been delayed due to the sunami
    Good Luck!
  • Is this a good deal??

    2011 CR-V EX-L w/NAV

    $0 down

    $1700.00 Taxes and doc fees first payment $350.

    $350.00 a month before taxes = $375 w/tax NJ

    36mo./12k per year

    Free oil changes for 3 years.

    Comes to about $138 for every $10000 which is under the $150 for every $10000 calculation.

    Good deal???? TIA!!!
  • Sounds like a rip off. You are also off in your calculation, it should be $100 in lease payment for every $10000. EX-L w/ NAV with $1700 out of pocket should be $300-$320 total per month! See example of my lease in my earlier post.
  • njcrv2011njcrv2011 Posts: 7
    edited September 2011
    "(I just cut this deal in Cortland, OH. I think its decent compared to other deals posted here.
    I put down total of $1680 OTD. This included first month payment. I now have 35 payments left of $300 even. This is 36month lease, 12k annually. Glacier Blue Metallic. Residual was 60% and money factor 0.00078. MSRP was $28675 and i negotiated down to $26679 (Base Cap Cost) "

    So basically if I compare my deal to yours im paying $50 a month more than you for just Nav correct?

    also below is something I found on the net.

    "Any lease that costs less than $150 per month per $10,000 worth of vehicle is a good lease deal"

    http://www.realcartips.com/leasing/0439-good-lease-deal.shtml

    Is this bad info???
This discussion has been closed.