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2013 and earlier-Honda CR-V Lease Questions

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Comments

  • bri_turnbri_turn Posts: 2
    2011 CRV EX 4WD
    There is no cap cost reduction. I think taxes are included in the gross cap cost, but I am not 100% sure since I can't back into this cap cost no matter what combo of tax rate, $595 bank fee, $239 doc fee I use.
    The doc fee is high, but the sell price is considerably lower than I can find locally in NY. The dealer is in MA.
  • delta737hdelta737h Posts: 603
    edited June 2011
    bri turn,

    Unless it's changed, the maximum dealer doc fee in NY State is $75. However, if you leased the vehicle in Mass., the $239 doc fee is probably legitiimate. You need to ask the dealer for a copy of their lease worksheet. This is a computer generated document that the dealer must submit to AHFC along with the lease agreement. The lease worksheet will tell you everything you need to know. Something is missing or not right with the numbers you provided. I get a payment of $312.44 including NY sales tax @7.375%.

    If you need help, let me know at autoleasegeek@zoominternet.net

    John
    The AutoLeaseGeek
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,869
    "Sign and Drive" might mean something different to the dealership, than it means to you (or, any other normal person)..

    I'd ask them what (if any) amount is due at signing... Don't be surprised if it includes that doc fee and some other registration fees..

    That looks like a pretty decent lease for a CR-V... historically, small SUVs have not been cheap to lease..

    Moderator - Prices Paid, Lease Questions, SUVs

  • delta737hdelta737h Posts: 603
    bri turn,

    Okay, here's what I've got and it does match the dealer...

    Sell Price........................ 24,349.88

    Amounts Capitalized
    Acq Fee......................... 595.00
    NY Tax 7.375%.......... 821.92**

    Gross Cap..................... 25,766.80
    Cap Reduction.............. 0.00

    Adj Cap....................... 25,766.80

    Residual..................... 15,615.00
    Money Factor.............. 0.00068 Term......................... 36

    Taxable Base Payment. .. 286.74
    Payment (inclu Tax).... 310.13

    You did say that this ia a sign and drive. However, the $239 doc fee is not included nor are the license/title/plate fees which you'll probably have to pay up front unless they're embedded in the sell price. If so, that's bad accounting on the part of the dealership. The sell price in virgin territory and should never be touched or adjusted in any way as it reflects the value of the vehicle.



    John
    The AutoLeaseGeek
  • miamiboymiamiboy Posts: 2
    2011 Honda CR-V EXL with Navigation:
    MSRP: $29,655
    Price: $28,255
    36 month lease w/12K per year
    Super Preferred HFC customer
    Money Rate: .00078
    Residual: .58
    Total out of pocket: $3,000.
    Payment: $324 plus tax
  • wujohnwujohn Posts: 3
    Hi,

    Please let me know if this lease looks good, bad, or just ok...Thanks.

    CR-V EX
    Price: $21,576
    Monthly: $286.03 (including taxes)
    Due at signing: $759 - includes first month's payment, registration and doc fees.

    I will be looking to buy something in the next day or so; your feedback is much appreciated.

    Thanks,
    John
  • wujohnwujohn Posts: 3
    ^^^^^^^^^
    I am sorry, this is suposed to be the cheapie LX model.sorry for the confusion.
  • Hi I am in southern California. A friend of mine got crv ex for 1220 down include first month all fees included otd Followed by 248/month including taxes for 35 months. I am thinking of getting the same deal if it's good. Any opinions would be appreciated.
  • wujohnwujohn Posts: 3
    Hi Car Man,

    Can you please help confirm the MF and residual for an LX and SE in So Cal? I am being told it is .00078 and 61%. If that is true, I cannot figure out these numbers for an LX

    Cost: $21667
    Down $397
    Monthly: 276 plus tax

    I guess I am missing some fees??? Any help is much appreciated.
  • deladanedeladane Posts: 1
    Hi Everyone,
    I am looking to lease the CR-V EX model (no leather) in NY. I was given the following quote, and was wondering if anyone can tell me if I'd be getting a good deal...

    $320 per month for 35 months
    dealer pays 1st month payment
    Zero down
    price includes taxes
    12,000 miles

    Any feedback is greatly appreciated! Thanks!
  • 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: 38,518
    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.
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