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2013 and earlier-Honda CR-V Lease Questions
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Car_man
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The lease payment for the CR-V that you are interested in will depend upon a number of variables, including the exact trim level that you want, how long you want to lease it for, and what mileage allowance you need. If you provide me with this information, I can work up a sample lease payment for you to give you an idea of what to expect.
Car_man
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Car_man
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Security deposits and disposition fees are not included as part of the capitalized cost of leased vehicles. Honda Finance charges a security deposit that's equivalent to your vehicle's monthly payment rounded up to the nearest $25 increment at lease signing. Honda Finance will waive its security deposit requirement in exchange for an increase of .00010 in the money factor that is used to calculate your vehicle's lease payment. Security deposits on Honda Finance leases are never added to the cap cost. Disposition fees are charged at lease-end when lessees return their vehicles. Acquisition fees on the other hand are charged at lease signing. Honda Finance charges a $595 acquisition fee on every vehicle that it leases. You can either pay this fee at lease signing or have it rolled into your truck's capitalized cost to make it part of your monthly payment.
Car_man
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Car_man
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What should I be getting on lease payments.
Here is the deal I have in hand.
MSRP: 18395 08 Civic LX 4DR Auto
Sales Price: 17135+TTL
15K Miles per year
They are quoting me $324 per month for 36 months. With $600 give or take down.
Seems way high to me. What should it be? I was thinking in the $230-$250 range. One guy on here got one for $277 that was for a car that was 2K more!
Thanks for the tip on the Passat - excellent idea.
Regarding the model CRV - I do admire the EX-L - I really just like the leather and the seats are easier to adjust / more comfortable (I'm 5'11").
As for length of lease and mileage - I was thinking around 3 years and 12 - 15,000 miles.
Easy enough?
Thanks!
This deal is not through AHFC, but a local bank. Is this a good deal?
Thanks.
I’m looking to buy or lease a 2008 CR-V EX 2WD no Navi by years end. I wanted to wait till December to see if there were any year end incentives but still haven’t found any for a CR-V on Hondas website – they never have lease or finance specials on these models from what I’ve seen. I will most likely purchase or lease the last week of the month. I have begun looking and have received some quotes. One dealer advertises $100 above invoice @ 22,078 (21,978 + $100) which appears to be the best deal I’ve received from email without haggling. I live in Texas (El Paso to be exact) and there are three local dealers. I would like to get a snapshot of pricing and the best lease scenarios I can expect.
I have very good credit - FICO 758. I am a recent graduate - I know Honda has graduate programs – not sure what if any benefit this will give me. If I lease I’m looking for 0 down no trade 3 years. If I finance I’m looking to put $3,000 down no trade 60 months.
What target purchase price should I shoot for?
What are the best lease terms I should look for? Could you provide a breakdown?
I’ve never leased before so I’m not to sure about the process. I’ve also heard my insurance premiums would be higher. Let me know your thoughts with the above info on leasing vs. financing.
Thanks for the help in Advance,
Sam
Car_man
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Car_man
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$100 over dealer invoice is an excellent selling price for a 2008 Honda CR-V. Let's work up a sample lease payment on the truck that you are interested in and see what we come up with. According to my calculations, if you were to lease an '08 CR-V EX 2WD without leather or navigation that has an MSRP of $23,585 and a selling price of $22,079 ($100 over invoice) through Honda Finance prior to January 3rd for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $309, assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Car_man
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Hopefully this is not going to be a big oops for him $$$$.
Thankx,
Hobie
Thanks for the reply. Unfortunately (to my discovery) in TX you have to pay tax on the purchase price of the vehicle and not the monthly payment. At the conclusion of the lease you get taxed again if you choose to purchase -ouch. In comparison I could get a similar payment (tax inclusive) financing with $1500 down at 5.9% for 66 months. I’ve decided to see what the New Year holds for special financing and go from there.
I have reviewed your previous posts and must thank you and everyone who contributed to this forum for all the great information provided.
- Thanks
Sam
Car_man
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At lease signing, Honda Finance charges a $595 acquisition fee and a security deposit that's equivalent to your vehicle's monthly payment rounded up to the nearest $25 increment. It will waive its security deposit requirement in exchange for a .00010 increase in the money factor that is used to calculate your vehicle's monthly payment.
Car_man
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This is my first ever asking for help on the internet. Here goes: I am shopping for a new car to lease or buy I am considering a Honda 2008 CR-V 2 WD, EX-L as it fits my needs. I have leased before but have never understood the lease formula or lingo. I really want to go into the dealership being a more knowledgable about the information being given me. I don't want to spend more than $ 23,000 if possible. Any feedback will be greatly appreciated.
Tricia
When you say you don't want to spend more than $23,000 on a lease, that is an awfully large amount spent on a lease, especially on a CR-V since it sells for about the same.
Can you write off lease as business expense? Is this going to be a company car?
If you are getting this vehicle just for your self and have no business expence, look into buying it outright, as lease is a very expensive proposition over long term.
When you say you don't want to spend more than $23,000 on a lease, that is an awfully large amount spent on a lease, especially on a CR-V since it sells for about the same.
Can you write off lease as business expense? Is this going to be a company car?
If you are getting this vehicle just for your self and have no business expence, look into buying it outright, as lease is a very expensive proposition over long term.
I have 04 CRV on 48 month lease due back next month, never had a problem, great shape. Question: I am under my km allowance had 24,000/yr x 4 = 96,000.
I will drive it back at around 60,000.
I am going to likely lease an 08, I want to credit the value back to the new lease.
I know they charge $0.08 when you are over. What is a fair number I should negotiate to?
Thanks...
I have 04 CRV on 48 month lease due back next month, never had a problem, great shape. Question: I am under my km allowance had 24,000/yr x 4 = 96,000.
I will drive it back at around 60,000.
I am going to likely lease an 08, I want to credit the value back to the new lease.
I know they charge $0.08 when you are over. What is a fair number I should negotiate to?
Thanks...
I don't think they pay you when you are under miles. Check your lease agreement paperwork for a definitive answer.
Thanls
Thanks
Jeff
Car_man
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Car_man
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Car_man
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Months: 36
Miles: 12,000 per year
Monthly cost: 353.74
Due at signing: 1920.94 (inception fees):
1st month payment: 353.74
sales tax @7.375%: 939.19
security deposit: waived
Registration fees: 200
Dealer Doc Fees: 179
VIN Etch Program: 249
Cap. Cost Reduction: 0
Not sure about the 1920.94 breakdown... $200 in registration fees??? 179 Dealer Doc Fees - what are those?
Is this legit??? :lemon:
Since they are a dealer, they will be quoted the payoff without sales tax included..
Lessees trade in leased cars all the time... The key is: You have to stay out of the transaction and the communication loop..
Now, if you've already made your last payment, and your lease expires in the next couple of days, there could be an issue.. but, generally, any bank is happy to get a car sold for the residual. Honda Finance doesn't allow third party individuals to buy out your lease, but dealers are a different story... you just have to let the dealer make the calls.
Good luck!
kyfdx
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I am looking to lease a 2008 CRC EXL 2WS loaded with navigation. MSRP is 27,800. Just went in to test drive it to make sure I liked it and got a quote (of course) which was insulting. 3 yr $1000 down at $557/mth plus tax. Come on. Anyone know the residuals and mf on this vehicle so I can negotiate with them with some knowledge. These guys try to screw you as bad as they possibly can every time, how do they sleep at night?
I would expect this car to lease for a max of $350/mth with nothing down. I got a quote on an Volvo XC90 with 2295 down for under 400.
this seems too expensive
I'm interested in leasing a 2008 Honda CR-V EX 4WD with 15,000 miles per year with zero down. I used the edmunds basic lease calculator and got $482.74 (after tax/ny). Sales tax at 6.25 = $1654. My current lease on a Honda Pilot is up in May and I have an excellent credit rating.. how did you get $374 or $359 (before tax) in reply to question #289? My number using the calculator seemed higher than yours.
thank you.
Sorry.. same post as #296 with correction to style:
'08 Honda CR-V EX-L AWD with 15,000 miles per year with zero down. I used the edmunds basic lease calculator and got $482.74 (after tax/ny). Sales tax at 6.25 = $1654. My current lease on a Honda Pilot is up in May and I have an excellent credit rating.. how did you get $374 or $359 (before tax) in reply to question #289? My number using the calculator seemed higher than yours.
Thanks
I have a lease swap that I want to do (an 07 Accord EX with cloth + a 15k miles allowance for an 08 CRV EX with leader either 2wd or 4wd with the 15K miles allowance) and need your expert advice. My credit is good but not excellent. I had never leased a car before and really did not know much about leases going in ...and so, here is what I did:
I traded my old 1993 Jeep Grand Cherokee Limited in the Accord lease back in October of 07 and got a the lease for $310 per month. Now, I feel that I got taken. Your thoughts? I did not have to pay any other fees at the time of the lease signing. I really like the 07 Accord better than the 08 (the 08 body does nothing for me).
BUT, I have a 2 year old who gets accidentally bumped a lot when we put him in his Britax car seat in the Accord. I've tried a variety of entry techniques but to no real avail. I am now fed-up with the matter. My son is complaining much more to me about the issue long after I've managed to get him into the seat -- and he keeps asking for extra kisses and attention for his suffering which I sometimes have to stop the car in street traffic to do otherwise he goes into a fit that makes the ride very stressful for me. And so, I want out of the Accord. I would like to approach the dealer for the swap ASAP. Please help us!
I don't want to have to pay any additional fees. I simply want to give the dealer the key for the Accord and get in exchange the key for the CRV along with only the price differential per month.
Lastly, the lease financing for the Accord was done through Honda ... does it matter what dealer I go to? Does it have to be to the same one that did the original lease?
Much obliged.
Best,
Nidia
PS. We leased the Accord from Honda of Mission Valley in San Diego, CA.
As to the problem with the children. I don't think CR-V has much more if any rear seat legroom than the Accord. Accord is a bigger platform than the CR-V, which is basically a Civic on steroids. Try moving the front passenger seat forward to get more room in the back for the kids.
Good luck.
Best,
Nidia
My concern is, I cosigned for my youngest daughters 06 Accord Coupe Purchase (actually my name is on the top, her's second, but she has been making the payments without a hitch) I was wondering will this affect my ability to get a good money factor on my lease of the CRV. Thanks. Stubby
Coral Springs auto mall quoted me 410.00 a month with 1000.00 down......I think their on DRUGS
thanks
Stub
Car_man
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Car_man
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It is difficult for me to say how good a deal you got on the Accord that you leased last year without more information, like how much you were given for your Jeep, what Accord model you leased, how long you leased it for, what your mileage allowance is, etc...
How long is your Accord lease? I suspect that you have a long time left on it. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: sysop, "Real-World Trade-In Values" #, 14 Dec 2000 11:07 pm. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
Car_man
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Car_man
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