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2013 and earlier-Honda CR-V Lease Questions
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We got a 0 down, monthly payment of 376.83 for 12K miles/36 month. Negotiated price was 23700 with 595 acquisition fee, and a silly 42 dollar document fee.
We leased it for the following parameters:
Price: $24,900
36 month lease, 15k miles per year
Money factor .00285
Residual 61%
Acquisition fee $595
License and doc fees $203
I emailed all the other dealers in the area, and Boyland was the only one willing to go near invoice. I ended up getting the truck for 100 over invoice. The best prices i got from other dealers were 500-100 over invoice.
Hope this helps.
I am currently near the end of my negotiations for a Honda CR-V. The internet manager is quoting me the following price:
MSRP $20,600
Destination $595
Quoted price $19950
The invoice price is $19600, so this is $350 over invoice. Is this a good deal? If so, what should I expect to pay per month? We have yet to discuss the lease offer, but I would like to have 15,000 miles/yr and a 36 or 48 month lease.
Thanks in advance for your help!
Sorry for the late reply! The selling price was: $23,450 (MSRP was ~$24k).
To recap:
- Honda CRV 2007, 2WD EX
- 35 months, 12k
- $1,000 down
- $377 monthly including tax
Thanks!
Car_man
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For now I can tell you that the amount that is due at lease signing for this lease is too high. Consumers can and should lease any vehicle that they are interested in without making any sort of capitalized cost reduction. I always advise consumers against making large down payments on leases because those who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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Thanks so much for the details on the LX CR-V. That's very helpful. My car just came in, so I am going to pick it up tomorrow barring any unforeseen circumstances.
On that note, thanks again and thanks to everyone on this forum. I have learned a TON about the leasing and purchase process from this site and I really appreciate it.
ooking to buy a Honda (in North NJ - Bergen County or close)
2007 CR-V, Std package
24months, 30k, 15k/year
2007 Accord SE V6
same terms
Could anyone help me find good deals on selected models?
What's a good price range and should I be looking at Honda Finance Program or something else?
I would like to lease a 2007 Honda CR-V EX 2WD in Westchester County, NY. The lowest price I've been quoted is $23,900 including the $595 destination charge (I hope?!). The dealers claim the car is so hot, they don't have any in stock...there is a 4-8 week wait. I know the MSRP is $23,445. How can I negotiate a lower price when the demand is so high? And what would be a good monthly price to pay for a 36-month lease, 15K miles/year, zero down OR $1000 down?
Thanks!
Carman, if you're out there, please reply, I need help in the next 24 hours!!
Looking to lease the above vehicle, MSRP with destination is 22,395.
Offered 0 down, 36 month, 36K mile lease for monthly payment of $356, with 8% NY State sales tax included. (so I guess without tax its zero down, 36 months at $329.63 per)
I dont know the residual and money factor for this vehicle, but is this a good deal or should I negotiate further, if possible. Seems to beat many other offers I see here.
What do you, or anyone out there think? Should I do it?
Thanks for the input.
Off the lot price (all DMV fees, reg, tire waste included):
359.60/month
36 months
12K miles
Even better, they let me put ZERO down (literally signed and drove off) and divided my total over 35 payments to start next month, making it 377.62 x 35 payments over 36 months.
What does everyone think? I know on the grand scheme of car buying its average, but for a HOT car at this time of year I thought it was the best I could do.
Oh, for everyone out there, dealer was Saratoga Honda, Saratoga Springs, NY, and I would give them my highest recommendation. They will negotiate over internet/phone/fax and deliver to other states as well, I may continue to use them if I leave the area!
Car_man
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Car_man
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Once you have decided what price you want to pay you can estimate these vehicles' lease payments by using the following lease programs. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Honda CR-V LX 4WD with 15,000 miles per year are .00380 and 71%, respectively. As you can see, Honda's 24 month lease program for this truck is pretty bad. You would be better off leasing it for 36 months. The numbers for a 36 month, 15k lease of it are .00280 and 62%.
Honda Finance's current 24 month, 15,000 mile per year buy rate lease money factor and residual value for the 2007 Accord SE V6 are .00090 and 57%.
Car_man
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Car_man
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Car_man
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for that model.I want to be in that monthly range but not by shelling out 3k for a lease. Should I try another dealership? Hope I didn't highjack the thread.
I am interested in leasing a crv.
Thanks
My friend thinks he wants a 60 month lease. I told him that the maintenance he will need to do will negate the savings, and that a longer lease doesn't always equal a lower payment. Where is the residual the best on a CR-V LX AWD? Thanks!
I am planning to lease 2007 honda CR-V EX-L AWD with Navi. This is for 36 month 12K miles. From my research MSRP 28595 and invoice 26482. I am trying to offer the deal with 410/ month with zero down. I wonder if that is a legit offer? From what I read in the forum the Money factor is 0.0028, but I am not sure the residual... one of the dealer told me is 60%, but I read your previous post you said 62% I wonder if 60% is correct for the residual value?
Let's work up a sample lease payment on this truck using Honda Finance's current lease program and see what we come up with. According to my calculations, if you were to lease a 2007 Honda CR-V LX 2WD that has an MSRP of $21,195 and a selling price of $20,509 ($750 over invoice) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $299. The lack of lease support on this model makes it difficult to do much better than that.
Car_man
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Car_man
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Your friend definitely should not do a 60 month lease. That is a really long time to be committed to one vehicle. Plus, once the CR-V's 3 year / 36,000 mile basic warranty expires he will have to pay to fix anything that goes wrong with it (other than powertrain issues) out of his own pocket. I usually recommend that consumers lease for 36 months or so, 48 at the longest. Let's compromise and work up a 48 month lease assuming a selling price of $750 over invoice. According to my calculations, the zero down, pre-tax monthly payment of a 2007 Honda CR-V LX 4WD that has an MSRP of $22,395 and a selling price of $21,623 ($750 over invoice) leased through Honda Finance for 48 months with 12,000 miles per year (I'm not sure if Honda Finance leases Honda models with only 10,000 miles per year) would be around $287.
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Car_man
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Car_man
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You absolutely should negotiate the lowest possible selling price on the CR-V that you are interested in prior to discussing its monthly payment. There's no need to mislead the dealer to make them think that you are paying cash for or financing it, be honest about your intention to lease but firm that you want to negotiate the selling price before discussing monthly payments. I am not intimately familiar with what the market is like for the CR-V right now, but if I was in the market for one I personally would shoot for $500 to $1,000 over dealer invoice. You may be able to get an idea of how much you will have to pay for this truck right now by visiting the following discussion: "Honda CR-V: Prices Paid & Buying Experience".
You can use the formula that is described in the above article to calculate this truck's lease payment. To do so you will need the exact MSRP and selling price of the CR-V that you want, along with its money factor and residual value. Honda Finance's ease program for this truck varies by term and mileage allowance. I can give you an idea of what it is currently like, but I am going to have to make an assumption about these variables. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Honda Finance's current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the 2007 CR-V EX 4WD without leather or navigation are .00280 and 61%, respectively.
I believe that Honda Finance includes gap insurance with its leases at no additional charge.
Car_man
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I'm looking for the lease rates (factor and residual) for a 2007 CRV EX-L 4WD in Orange County, CA. The lowest price I'm being quoted so far is $24,895.00 Is this a "good" price or can I expect to do better? I'm looking for a 3 year lease at 15k miles a year.
Thanks
3 year 20k Miles/year Ex-L with Navi...
Negotiated Selling Price of Vehicle: $26,805.46
Money Factor 0.0028
Initial Title Fees $385.75
dealer acq fee up front $624.75
Residual Value $15,085.00
Monthly payment with tax = $465
$1500 up front for:
1st month =$465.00
Title Fee =$385.75
dealer acq fee up front=$624.75
cap cost reduction with tax=$24.50
Thats all I know...
How'd I do?