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2013 and earlier-Honda CR-V Lease Questions
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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%
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.
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.
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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.
HONDA CRV- EXL
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
MSRP 24,015
Cap Cost 22,658
Money Factor .0028
Term 39 months
Residual 14,409
Monthly $311
OTD $1794+Tax
Josh
You did not indicate which CR-V you got.
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.
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
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.
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?????
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?
I thought I got a better deal
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
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.
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!
Leasing for 36 months, with $5000 down for $350 month with tax.
Am I paying too much with that large a down payment ?
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.
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%.
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.
$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.
P.S. I have a difficult time fitting into cars because I'm only 4'8".
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!!
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.
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.
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!
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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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
the payment would be for a 2009 AWD LX- $637 drive off, 38 months x $336.29 tax included w/ nocharge for dealer trade
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!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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?
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?