2013 and earlier-Honda CR-V Lease Questions

sassydog · December 2008

I am looking to lease a Honda CR-V in the next 2 months....Do you think it is better to lease RIGHT now or wait till after the new year? Does anyone think the rates will get worse?

bigdadi118 · December 2008

For such condition of economy, it is getting worse before it gets better, so wait a little is on your side of advantage.

bk_metro · December 2008

I brought my 2005 CRV- EX 4WD to the dealer to see what kind of deal I could get. It was in a major accident 2 years ago (hit by drunk driver while parked) that cost about $15,000 to fix. The car was only 2 years old at that point and really hasn't been right since. The dealer offered me $11,000 on the car (less the $8000 left on note) which I used for a down payment on a new lease for a 2009 CRV-EX-L 4WD. I've never leased before and wasn't entirely clear on what I was getting into.

The agreed upon value of the new car is $28,480.26 (includes $600 for alarm system). Including taxes and everything I'm paying $441 for 48 months. From what I've looked at online, it's not the worst deal, but definitely not the best. Any thoughts? The residual value is $14160 and the money factor is .0036. I live in NYC so the sales tax is 8.25%

bigdadi118 · December 2008

money factor is .0036 is surely high

alram system 600 can be negotiated down to 350... I told the Finance guy I can get a Lojack for 500 he immediately offer me 350 if I take it now.

dean27 · December 2008

Honda is offering this lease below: is if this is a good deal and if so, can I negotiate a better deal? IF so, how? I'm ready to lease any day now.
Thanks for your help!

2009 CR-V Featured Standard Lease
$249.00 per month for 36 months. $2,999.00 total due at signing.
Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.
[Show Details] Show Details
Request a Quote
FEATURED LEASE: Closed-end lease for 2009 CR-V 2WD LX Automatic Transmission (Model RE3839EW) for $249.00 per month for 36 months with a $2,155.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,999.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee, capitalized cost reduction, with no security deposit. Security deposit waived in featured lease example. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

ilovecoasters · December 2008

How did I do? Just leased a 09 crv-ex for $397 in Central Florida. 39 months, 15,000 miles per year with 0 out of pocket cost. 12,000 miles just was not enough for the commuting I do. They also paid off my last 3 payments on my old lease and paid the first payment on the new lease.

sassydog · January 2009

I know that all companies have new "dealer help" come new year time.....If anyone finds out what the leases look like for 2009 Jan...please post...Should be out this coming Monday

HONDA CRV- EXL

CarMan@Edmunds · January 2009

Hi dean27. Savvy consumers who live in an area that has a decent level of competition are almost always able to negotiate lower selling prices than the ones that manufacturers' official advertised lease payments are based upon. If I was in the market for a 2009 CR-V right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice, which would essentially be right at or slightly under invoice once the $500 dealer cash that Honda is currently providing on this model is taken into account. A lease based on this price would have a lower lease payment than the one that is being touted in the ad that you mentioned.

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CarMan@Edmunds · January 2009

Hi sassydog. Honda introduced a new $500 dealer cash incentive on the 2009 CR-V in January. Taking this cash into account, I would not be surprised if one was able to negotiate a capitalized cost that's at, or even slightly below dealer invoice for a lease right now.

Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda CR-V EX-L 4WD with 15,000 miles per year are .00280 and 57%, respectively.

Good luck in your quest for a new ride and let us know if you have any other questions.

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sassydog · January 2009

Carman is that a good rate lease money factor?

blueiedgod · January 2009

I brought my 2005 CRV- EX 4WD to the dealer to see what kind of deal I could get. It was in a major accident 2 years ago (hit by drunk driver while parked) that cost about $15,000 to fix. The car was only 2 years old at that point and really hasn't been right since. The dealer offered me $11,000 on the car (less the $8000 left on note) which I used for a down payment on a new lease for a 2009 CRV-EX-L 4WD. I've never leased before and wasn't entirely clear on what I was getting into.

The agreed upon value of the new car is $28,480.26 (includes $600 for alarm system). Including taxes and everything I'm paying $441 for 48 months. From what I've looked at online, it's not the worst deal, but definitely not the best. Any thoughts? The residual value is $14160 and the money factor is .0036. I live in NYC so the sales tax is 8.25%

Ouch!!!!

$441x48 =21168 + $3000 down ($11,000 for 05 CR-V - $8,000 owed) = $24,168 in payments over 4 years for a $28,480 agreed upon price.

Factor in the $14,160 residual and you have effectively paid $38,328 for the vehicle.

The worst part is that after 4 years and $24,168 in payments, you have no vehicle!!!

$441/month with $3,000 down on a 4 year lease is luxury vehicle territory.

CarMan@Edmunds · January 2009

Not particularly. .00280 isn't bad, particularly when it is combined with solid residual values, but it's equivalent to an interest rate of around 6.7%. Many manufacturers have money factors that are much lower than that.

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phisher · January 2009

Don't feel to bad about what you paid. My neighbor who is 32YO and totally illiterate with computers because if he gets one people will be able to see in his house according to him. Asked me to handle his negation on his next truck (F-150) I asked him what he pays currently for his lease. He said because he is a ford gold club, red carpet lease holder he gets a special deal for his truck his 3rd leased one and only has to pay $519/month on his 36 month lease. It was only when I bought in 15 pages of auto trader with trucks exactly the same as his with an asking price of 12-14,000 that he realized what he could get for his $. Fool me once shame on you. Fool me twice shame on me. My guess is next time you will be able to do much better and you didn't do that bad at all.

Happyguy33 · January 2009

I just Leased a CRV for 39 months 12k miles ZERO down.Only had to pay first month lease payment and DMV payments which I rolled into the lease payments. My Lease payment for the NEW 2009 CRV is $360 . Did I get a decent deal? My credit isn't the best but I don't think it changed the deal that much. I knew going into the deal that the HOnda CRV have very bad lease programs but I like the risidual value of the CRV. Let me know what you guys think?

joshuas808 · January 2009

Here's the deal on a 09 CR-V EX I am being offered on the 3rd round of pricing. It's my first lease and the best I've gotten from the three dealers I've spoken to. I am in Hawaii, so there are fewer dealers than you might find in a major city on the mainland. Is there more room to negotiate to my benefit?

MSRP 24,015
Cap Cost 22,658
Money Factor .0028
Term 39 months
Residual 14,409
Monthly $311
OTD $1794+Tax

Josh

blueiedgod · January 2009

It is not a bad deal for a CR-V EX AWD.

You did not indicate which CR-V you got.

joshuas808 · January 2009

It is the 2-wheel drive model. What numbers should I be looking at on a 2WD?

tasteckler · January 2009

I have the following offer from a Honda dealer in suburban Atlanta:

39 months at $306 + tax for an '09 CR-V LX
1st month's payment due at signing
12k miles/yr.
MSRP = $21,915
Sales price = $19,854
Residual = $12,929
Money Factor = .00280

Any comments on this deal?

Thanks in advance.

mollerd · January 2009

Hi - I was wondering If I got a good deal or not.

It has everything but no Navi, and I am paying 355 per month with $3000 down. I also got the optional backup sensors, and mud guards which list for about 900. I purchased the car in a dealer in Northern New Jersey. The lease is for 15,000 miles per year. Itis based on an MSRP of $25,000.

Thanks

sassydog · January 2009

That sounds pretty good given the 15K

In Dec. I looked and got a deal on a CRV EXL 12K 39 months for $386 per month with 2506 due at signing, also with back-up sensors NO NAV. I turned it down and decided to wait until the new year and better offers. I have heard Honda is trying to be more competitive with the lease program, but they don't compare with other makers....If you go to other car dealers thay are giving money away....I don't know why Honda is so slow to react to the economy....I think it will hurt them long and short term.

sassydog · January 2009

Just leased a 2009 Hinda CRV EXL with Back up sensors

For $435 a month....NO money down only $137 for DMV

MSRP 27800.....got the car for 26000

Money factor at .28
Residual .58

How'd I do?????

carshopping · January 2009

Here's what I was given:
MSRP: 27765
Cap cost: 26100
12k miles/yr
.0028
36 months
59% residual
CRV EX-L no navig.
They said monthly price (without tax) was 410.00...based on numbers, I think it should be in the 380 range...

Can I do better??? What about 500 Manufact rebate to dealer?

sassydog · January 2009

With tax that comes to 445 in my state of NY....so i guess my 435 with tax is just about the same??

I thought I got a better deal

carshopping · January 2009

Here's what I think I should do, tell me if I'm way off base...
msrp: 27765

negotiated price of car: 25300 (invoice is 25800, and honda is giving dealer 500)

money factor: .0028 (my husband says to go down on this, not sure they'll budge??)

36 months (i keep seeing stay away from 39)

12K/year (I'd like 15, but not sure how much that will impact price if I ask 4 this)

By my manual calculations, monthly cost should be 365.00 (no tax yet..)

***also...I see on the "buying crv forum that people are negotiating a purchase price of 24,000 for this car"...

My tax is 5.5%, I live in midwest..NE

iceyhotj · February 2009

Hi,
I was at the dealership today (North Hollywood, CA Robertson Honda) negotiating for a lease on this car. After A LOT of back and forth I walked out on 60 months at $330 with them paying the last two months of my current Mazda Tribute but me putting down $500 (basically evens out). However, I'm wondering if buying at that price instead (if the dealership would go for it) is a good deal. Any thoughts, help or suggestions are greatly appreciated (I also posted this in the buying forum but thought I would see what people here had to say about the lease option).
Thanks!
J
P.S. I've leased for nine years so buying is a REALLY big deal to me.

chuck68516 · February 2009

It is a risk leasing for 39 months let alone 60 MONTHS!!! If you lease a car for longer than the factory warranty you are responsible for all problems after warranty has expired. Not to mention tires, brakes, alignment, etc. etc. Why would you even consider this? BUY IT!!! Or go to an honest dealer who isn't trying to pull a fast one on you and lease for 24-36 months.

iceyhotj · February 2009

Thanks chuck68516!

Unfortunately (after much research) it looks like the Honda CR-V EX-L with no Nav is going to end up out of my price range for leasing and buying. I really don't want to spend more then about $300 or so a month on a car payment and that doesn't seem possible with this vehicle. In fact I'm not sure it's going to be possible with any small SUV. Guess a lot has changed from when I last leased a car (about 3 years ago). You would think with this economy and the unstable gas prices they would be more willing to deal. Oh well . . . thanks again!

dogcar7 · February 2009

Looking at a 2009 CRV with Nav....about $29,500
Leasing for 36 months, with $5000 down for $350 month with tax.
Am I paying too much with that large a down payment ?

sleepysue · February 2009

hey guys..

just wanted to post some info on the deals i got, but couldn't take advantage from. I'm in southern california, in OC, and here are some numbers. Hopefully, this will help some of you when you go and buy!

2009 CRV EX:

Cap Cost: $22752
Residual: 60%
Money Factor: .00280
Term: 36 months
Drive off: $667.15 (1st month's rent and other misc. doc fees)
Total monthly payments: $345/month (that's including a 7.75% tax in my area).

this was with putting 0 down. i think this is a pretty decent lease, but b/c my trade in was soooo incredibly upside down, the financial burden of having to pay the negative on my trade-in was too much for me.

if I had taken this deal, would it have been a good one? i plugged these into my lease calculator, and the numbers don't match...my calculations came out a little higher, but this is what was offered...i have it on paper.

bigdadi118 · February 2009

EXL is loaded so if you want the car payment to meet your budget, try the LX or EX model then.

djhalptert · February 2009

$5,000 down is preposterous on a lease. $5,000 down and a monthly payment of $350 is just down right absurd.

The problem is Honda has an incredibly high lease rate on the CR-V right now. I'd either buy it or find a competitor. The Subaru Forester is leasing for 3.84% vs the CR-V's 6.72%.

djhalptert · February 2009

It isn't the small SUV market that is out of whack. It is Honda. They are unwilling to offer attractive lease numbers on the CR-V right now.

If you are set on leasing, I would look at the Subaru Outback, Subaru Forester, Nissan Rogue, VW Tiguan. All of these vehicles have better lease rates than the CR-V.

iceyhotj · February 2009

Thanks djhalptert! I test drove the Nissan Rogue and VW Tiguan but was very uncomfortable in both vehicles. Any opinion or thoughts on the Saturn Vue?

stoopy · February 2009

I'm glad you passed on it. I don't think that is a very good deal anyway. You could pretty easily BUY that same Honda CRV EX for $40 more per month. It is pretty sad that a $22,000 car would lease for $345 a month. Most people could work an extra hour or two of overtime per month to more than cover the difference.

$345 a month is not a very attractive payment in my opnion. Total of 36 payments is $12,420. If you bought it, after 3 years you would only owe a little over $12K. Residual is supposed to be $15K. If you can't save $100 a month leasing vs buying, don't lease.

djhalptert · February 2009

If you didn't like the Tiguan or the Rogue, don't bother with the Vue. I am leaning towards the Subaru Forester right now. Although the interior is quite generic, the all wheel drive system and overall value outweighs the competition in my opinion. The interior size is way more comfortable too. Too bad the Outback is hideous. You can lease one for $270 per month with zero down.

iceyhotj · February 2009

Hey djhalptert . . . Really $270 per month with zero down?! For how many months? I think my next stop this weekend will be to test drive the Subaru Forester. Thanks for the tip! I actually already test drove the Vue and liked it a lot but just didn't get into the numbers game (yet). I'm worried because it's GM . . .
P.S. I have a difficult time fitting into cars because I'm only 4'8".

sleepysue · February 2009

thanks! well, now i'm glad my trade-in value sucked! lol...i think i'm going to just hold off for several more months and see what happens.

that money factor with honda is ridiculously high....compared to nissan which is .00158 (for the altima)...but its too bad i don't like nissan!!

djhalptert · February 2009

$270 was for a Subaru Outback Special Edition Wagon for 36 months. You can lease a Forester Premium Package for around $320. If it's just all wheel drive you want, you can get a Subaru Legacy Special Edition for $220 a month on a 24 month lease. I sound like I work for them.

I thought you meant you didn't like the interiors because they were small. Guess I was wrong! Watch out on the Vue lease. The dealer will be using an outside bank. GM is not leasing at this time. Outside banks CAN have competitve pricing but they can also have a lot of B.S. like disposition fees, etc.

blueiedgod · February 2009

It isn't the small SUV market that is out of whack. It is Honda. They are unwilling to offer attractive lease numbers on the CR-V right now.

It is not just Honda, it is the leasing in general. Manufacturers and leasing companies can't predict what will happen in 3-5 years and what resale values will be. So, they project the worst and adjust the leasing rates accordingly. Plus, anyone who jumps in on these leases is subsidizing the current vehicle returns which resale value dropped 50% in the last few months.

With interests so low, and with good credit history, it is a nobrainer that financing is the way to go, if one does not have cash to buy it out right.

As to the original complaint that he/she can no afford any SUV... look lower, EX-L is the top of the line. LX and Ex have the same engine and transmission, and the only difference is skin deep.

A 2009 CR-V LX AWD should be selling around $20,000. With a $4,000 (20%) downpayment one could buy it for less than $300/month on a 60 month note. Even with just paying the fees and taxes, approx $2000, one could finance it for very close to $300/month.

One thing to consider is that Honda does not have tiers when it comes to financing. you either qualify (FICO 700+) or don't. If you don't, then dealers will try to find financing on the side, but the rates are going to be higher than what Honda Finance Corporation offers.

Good luck.

ronbars · February 2009

Good afternoon all,

Would someone be so kind to post the current residual and money factor for a 36/15 lease of a 2009 CR-V EX 2WD?

Thank you!

tedspread · February 2009

FYI - AHFC DOES have credit tiers. Dealers are not allowed to "mark up" a money factor or interest rate when there is a special program (subvented rate or MF). So when there is a special program, dealers will always try to get you the best rate you qualify for. If there is no special program program, they are allowed to mark them up.

sexybeast · February 2009

2009 LX AWD, so how does $617 drive off with $345 a month for 39 months at 15k a year sound? i'm here in the Socal

CarMan@Edmunds · February 2009

Greetings ronbars. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CR-V EX 2WD with 15,000 miles per year are .00280 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier and pay a security deposit at lease signing.

When negotiating your lease on this vehicle, make sure to take the $500 dealer cash that is currently available on it into account.

Car_man
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CarMan@Edmunds · February 2009

Hey you sexybeast you. The best way to evaluate this lease is to look at the selling price that it is based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how much of a dealer discount you are being given. Let us know what the selling price is and either myself or another helpful community member will be glad to let you know what they think.

Car_man
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sexybeast · February 2009

thanks carman, the selling price is $21560 + fee's at 7.75% here in california
the payment would be for a 2009 AWD LX- $637 drive off, 38 months x $336.29 tax included w/ nocharge for dealer trade

sueesponte · March 2009

It's amazing how much the market has changed in the past 3yrs. :sick:

We've got a 42 mos lease on an '06 Pilot EX-L AWD for $369/mo (which includes 6% tax here in CT), $0 due at signing, and 1st mo free. The MSRP of that car was about $35K if I recall correctly.

We're now looking at an '09 Odyssey but we're also planning on leasing an '09 Pilot and '09 CRV EX w/NAV at the same time with other family members. I'm hoping March will bring some better lease numbers or the power of leasing 3 cars at once will help!

CarMan@Edmunds · March 2009

No problem, sexybeast. Thanks for the additional information. The dealer invoice price for a 2009 CR-V LX AWD is $21,560. If one subtracts the available $500 dealer cash from that it drops to $21,060. So the dealer is basically selling you this vehicle for $500 over invoice. That's not bad. Just make sure that they are using Honda Finance's current buy rate lease money factor of .00250 (for consumers who qualify for its top credit tier) to calculate your payment and you're in good shape.

Car_man
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scottboyd · March 2009

Really new to trying to figure out whether or not I am getting a good lease deal, so any help would be appreciated. I read a bunch of posts on here yesterday so hopefully I am providing all of the right info. Here goes:
CRV EX-L with Navigation 2 wheel drive
36 month term
12K miles/year
Cost - $24,251
Residual 56%
Money Factor .0025
Drive off $759
Monthly with tax $445

Is there anything else I should be asking?

blueiedgod · March 2009

Really new to trying to figure out whether or not I am getting a good lease deal, so any help would be appreciated. I read a bunch of posts on here yesterday so hopefully I am providing all of the right info. Here goes:
CRV EX-L with Navigation 2 wheel drive
36 month term
12K miles/year
Cost - $24,251
Residual 56%
Money Factor .0025
Drive off $759
Monthly with tax $445

Is there anything else I should be asking?

What would it cost per month to finance this vehicle for 60 months?

scottboyd · March 2009

Not sure on that, but I def want to lease. I'm ok even if leasing is a little more expensive than buying, but just want to make sure I get a relatively good deal on the lease.

2013 and earlier-Honda CR-V Lease Questions

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