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2013 and earlier-Honda CR-V Lease Questions

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  • bos2ausbos2aus Posts: 5
    contract_build,

    Yes, you read it right. Thank you for pointing that out! I missed it completely. We typically drive 12k/yr but wanted the extra miles as we anticipate this going up. Hopefully, the risk is small.
  • contract_buildcontract_build Posts: 26
    edited April 2013
    You're welcome bos2aus! Glad to help out.

    We ran into this sorta "oversight" some years back with our 15k lease: all of a sudden it hit me a few months into the term. Wound up buying the 8yr/120k/$0 "cheap" over the web for a different Honda model after we got a little scared (also thought it would help in trade/resale at lease's end since it's transferable). Wound up buying the Pilot at residual and it turned out that darned warranty paid for itself after 80k (weird stuff with the rocker arms in the fwd Pilot).

    Anyways, I now find it interesting how some manufacturer's stock lease offers are at 39 months when their general warranty - like Honda's - ends at 36k/36mos. I wonder why??????

    Looking myself right now for a good lease payment on the CR-V - want 2WD but there are hardly any to be found n the NE and the AWD money factor is higher than an Accord or Civic so we'll see in the next two weeks. Really just looking for a here-to-there car so $$$ will be the deciding factor but you can't beat Honda Finance's 3x500 damage allowance and no termination fee!

    Hey... have great day and enjoy the CR-V!
  • bos2ausbos2aus Posts: 5
    contract_build,

    Thanks for all of the helpful info. I think I am a believer in extended warranties now after having to get rid of my last two cars well before they reached 150k miles.

    I am fairly new to leasing and find it somewhat confusing vs. purchasing. I am really not comfortable that the numbers I have are decent. It seems OK but feels like it could be lower. I'd rather not hand the dealer easy money.

    This would be our first Honda, so far the shopping experience has been pretty good.

    Good luck with your search :)
  • contract_buildcontract_build Posts: 26
    edited April 2013
    You're welcome.

    Thanks for all of the helpful info. I think I am a believer in extended warranties now after having to get rid of my last two cars well before they reached 150k miles.

    I think you'll have a tough time finding more miles than Honda's 120k ;)

    I am fairly new to leasing and find it somewhat confusing vs. purchasing. I am really not comfortable that the numbers I have are decent. It seems OK but feels like it could be lower.

    The monthly payment ALWAYS feels like it could be lower! :)

    (Since no one else has responded) Continuing this pleasant colloquy, let me see if I can assist.

    I felt the same discomfort, bos2aus, when beginning the first seven years ago, but by it's conclusion was comfortable (if you go back to March/April 2006 posts in the Pilot leasing forum you'll have the process down. Look especially for analysis posts by Host Car_man, and delta737h..... the latter has a website autoleasegeek.com: invaluable, must-read info, especially his process recommendation for submitting formal "lease proposals" to dealers - the only way to go)

    Many use the Weymouth lease calculator for ideas of decent lease numbers. Your capitalized number is 23069 (weymouth's 23280.70) and residual 15,422 (weymouth's 15020). Assuming your cap includes the 595 acq (based on your 500 up front/inception) should bring you to 267.94 + tax/fees for 15k/36. Weymouth currently shows a "first&fees" of 285+tax. Assuming you're in a state where tax is based on the monthly payment and includes 6%, you should be around 285/mo plus that 500 inception and secured a solid deal. You don't mention if there is a trade (even returning a current lease which may have some equity value) so this is important too. Depending on the competitiveness of your market, I believe you might achieve a lower payment. using autoleasegeeks approach "from the comfort of your home", but remember you'll still think like you could've gotten lower... Also, there's the time-cost/benefit ratio to consider.

    Frankly, the big thing killing these CRV leases is this .00145MF (contrast this with the lower ones for Accord and Civic, not to mention Honda Finance's .00022 that was around in 4/2006 on some Pilot models added to big discounts from MSRP)

    The key is to do one's homework (read, read, read), feel comfortable with the contract and then - if you choose to post your numbers back here to assist others - not read the pricing forums again for another three years ;)
  • bos2ausbos2aus Posts: 5
    Wow. Great information. Lots of reading. Thanks again. I am in MA so the Weymouth calculator is very relevant. Turns out my feeling was right...went to another dealer and got what I was asking for.

    The deal I signed for today:

    CR-V LX AWD Twilight Blue (24875 MSRP)
    36 months
    15k miles
    $500 fees
    $22639 gross cap cost
    $270/mo (inc tax)
    62% residual

    I doubt its the absolute lowest but I am now comfortable with it.
  • contract_buildcontract_build Posts: 26
    edited April 2013
    WELL DONE bos2aus!

    I just saw Weymouth is running an LX special till the 12th at 229/12k that, when acq and Mass. tax are factored in would be $261.19/mo + Inceptions of 261.19+239+125 (plus I guess some tax on the doc fee) and you got 3k miles more/year for less than nine dollars extra and way less than their standing 15k offer.

    Now it's time to have a nice dinner and relax.

    Many thanks for posting your info, for the nice colloquy, and we'll see you round here in another 35 months or so ;).

    Oh, just one question: since the MF is high, did they make any downwards adjustment towards Accord/Civic territory?
  • bos2ausbos2aus Posts: 5
    Thank you. I am not sure what you mean by downward adjustment. Did they drop the monthly pymt because the MF was high? If that is what you're asking, I don't know. I didn't realize .00145 was high :surprise:
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Sounds good superchief20. See you then!

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey builder. Dealers can use $750 in Flex Cash on the CR-V.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • contract_buildcontract_build Posts: 26
    edited April 2013
    Dear Car_man,

    Thank you SO much for your prompt reply AND this specific confirmation!

    Now it's all up to me ;)

    The MF is higher for the CR-V so I may wind up going with the Accord's lesser "rent charge" (when I compare the MF from April two years ago for the CR-V, .00145 is a bitter pill but it is what it is.)

    Conversing with poster bos2aus in this forum was good confirmation of what can now be achieved in, at least, one of the US regions.

    Wishing you a GREAT night Car_man and thanks again.
  • contract_buildcontract_build Posts: 26
    edited April 2013
    Thank you for your reply bos2aus & I didn't mean to confuse: .00145MF is top tier/lowest currently, but if you look back two years ago April, the 2011 's MF was substantially lower just prior to the 2012/next generation release. Honda knows they've got a winner now and don't have to deal on MF.

    Also, since the Civic&Accord have lower MF, I was just wondering if your doc showed "MF movement" towards theirs (.00111)

    Looks like selling price adjustment may be the only way to go now.

    Hey, thanks again and trust you'll enjoy your car :)
  • dock20dock20 Posts: 4
    Ok I was hoping some of you with more experience with leasing could help. I did a lot of research online and have gone to two dealers. As of today I have a car getting shipped in from a different location due to them not having the color we like. I have not seen any contracts yet but there is were we stand.

    219 month total monthly price with everything included
    3000 value trade in for our Honda Civic
    they are giving 750 flex cash towards the deal so no out of pocket
    12000 miles
    36 months

    I should be going back in on Wednesday to look at contracts, sign and drive away. Do these numbers sound good? Also what should I look for in the contract thats important and what can I negotiate at that point?

    Thanks for any advice!
  • iwannagr8leaseiwannagr8lease Posts: 42
    edited April 2013
    I don't mean to be harsh, merely direct...

    Since you did "a lot of research online", if only a half-hour or so of that was spent reading the forum(s) here then you KNOW we need much more info - ideally presented in a structured format (there are examples in the preceding pages or in the Prices Paid forum) to provide what you request. You also could've received a trade-in value from qbrozen over in the respective forum and shopped your Civic around to many dealers. You're going to sign Wednesday and you don't know the money factor, capitalized amount, etc.?????

    Nonetheless, here's my feeling; the few numbers provided look VERY good for the dealer. 3000 trade plus 750 and you're at 219? RUN!
  • dock20dock20 Posts: 4
    I agree that I should be more prepared and have more information. I have not signed anything as of yet so I am glad I posted this now. I am sending an email to my sales rep to ask what the money factor and capatilized amount is. What else would you recommend asking and can you explain why the numbers dont look good in my favor?

    Thanks
  • dock20dock20 Posts: 4
    Hi Car man,

    Can you help me with the buy rate lease money factor and residual value for a 36-month lease of a 2013 CR-V EX aWD with 12,000 miles per year for consumers who qualify for its top credit tier?
  • ko10ko10 Posts: 2
    Thank you very much Car_man!
  • To very roughly see why I said to "RUN", head on over to Weymouth's lease calc and punch in a 3750 downpayment (assuming your $3k trade is working as a capitalized reduction and the 750 is coming off the car's sale price). Base payment becomes $172 from their normal $281......... you're $219 (taxes included? We don't know because it wasn't specified and varies by states' leasing laws). What if you can get more for your trade??? What if you can get a better price on the CRV? Etc.

    Check out some of the extensive posting by delta737h in many of the forums here for great advice on how to approach a lease. Or go to autoleasegeek.com for a more codified step by step approach.

    Taking his advice, forget getting the numbers piecemeal. Simply get your salesperson to email you their lease worksheet with all the numbers laid out. If they don't you'll want to find another dealer.

    I think delta737h/autoleasegeek/John's fee for a lease proposal is about $20(?)... If you can't run the numbers yourself his service would probably save you a bunch.

    Take your time, and good luck and let us know how you do.
  • dock20dock20 Posts: 4
    iwannagr8lease I am so glad you posted when you did. It seems I didnt know much at all and did a lot more research. The deal I ended up with was much better and I am happy with it.

    2013vHonda CRV EX
    36 months / 15k miles
    Monthly: $198
    Negotiated Price: $24789
    Cap cost: $25798
    Residual: $26975
    Money factor: .00145
    Trade in 3500 (I ended up getting it up from 2500)
    750 Flex cash applied
    Fees Acq 595 and documentation fee 250

    The deal you told me to run from ended up being MSRP price and well as some fees I wouldnt have paid and a lower trade in value. Thoughts on my deal?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome contract_build. Thank you for the nice post.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello dock20. Honda Finance's April buy rate lease money factor and residual value for a 36-month lease of a 2013 CR-V EX AWD with 12,000 miles per year are .00145 and 64% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome ko10.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • charles_guycharles_guy Posts: 55
    any secret incentives car_man for this month?

    visited several dealers all said they ran out of april flexcash so no deals for me. hoping residual and money factor would change but seems same this month while accord and civic changed. flexcash replaced with loyalty of 500 found out from bernardi honda so looks like a 250 loss.

    big bummer. may check out a toyota as their sales went down last month.
  • balaskonisbalaskonis Posts: 16
    Car man,

    What do you have for the res/MF for May for a CR-V EX-L AWD 12,000 miles...is it still .00145 and 64%? Flex cash or added bonus stuff for the holiday weekend at the end of the month?

    Thank you so much!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi charles_guy. The new $500 conquest / loyalty cash is out there on this model.

    The FlexCash still exists, they can earn more even if they used up their initial allocation.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi balaskonis. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 CR-V EX-L AWD with 12,000 miles per yea are .00145 and 64% for consumers who qualify for its top credit tier.

    The FlexCash is still around, dealers that used up their initial allocation had the opportunity to earn a little ore by selling certain vehicles. Honda has not announced any additional incentives for Memorial Day yet, but it's possible that they will. We probably won't know for certain until much closer to the end of the money.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • charles_guycharles_guy Posts: 55
    thank you SO much for your information car_man

    after last month's very sad for us "we ran out of flex money" thing we found when calling or emailing or visiting dealers we decided for a round of dealers on phone early this month

    with 500 loyalty we just found a dealer's 500 flex this month from one for a crv so 250 better than last month's 750 flex for us for 1k total

    looking for more flex and will update

    trying for 750 flex and 500 loyalty = 1250

    thanks again car_man
  • charles_guycharles_guy Posts: 55
    edited May 2013
    thank you car_man

    with much appreciation for advice posted over last sevral months and hope this helps others

    we got lease on lx 36 months (35mo@284 sign n drive with 9% month tax included) best we could do in early may and didnt want to lose out like last month with flex and satisfied.

    since you know what leasing forms n numbers look like they were all over the place on hondas standard leasing template with flex and loyalty n tax n stuff but we received 1k but 90 tax on that but dealer/honda payed for fees/tax/ttl/1st so no OOP.

    signed with only 35x284=9940 like weymouths 211xx sell price for us so bottom line was drove out with 35 paymentsx284 for 36 mo total lease term. first of 35 payments due next month in june

    hate the passenger seat not having an armrest. lame honda with this lx

    car_man we'll hang round here to help some others if we can and we hope to see you again in nother 3 years

    THANK YOU CAR_MAN

    your the best
  • Does it pay to wait for new rates in early June, or lease the CRV EXL Memorial day week?

    Do Honda leases include gap insurance or do I have to get that elsewhere?
  • Car Man: will I get a better deal leasing a CRV EXL in early June or after Memorial Day?
  • charles_guycharles_guy Posts: 55
    --- Car Man: will I get a better deal leasing a CRV EXL in early June or after Memorial Day ---

    unless car_man is in big with honda he doesnt know. looking over past years hear and the web rates for leases in forums come out bout 1 week after new month to us out here

    we checked out at april end and no dealer flex cash so no deal. our deal early may deal and one dealer flush with cash so we got better n waymouth mass. deal 3states away. 221xx for c-rv awd lx with lease. dealer payed all fees and we did sign-drive for 35months.

    good luck holiday weekend superchief20
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