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2013 and earlier-Honda CR-V Lease Questions

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  • AXM23AXM23 Member Posts: 64
    A friend of mine just a got a quote on a CRV EXL with NAV for $2000 out of pocket and $411 a month for 36 months with 12k per year. It is from a dealer that I have bought from in the past and is very reputable.

    This rate is based on NJ taxes of 7%.
  • hondalicioushondalicious Member Posts: 12
    i signed a lease in October 2008 on one of the first 09s shipped in from Hamamatsu, Japan. CRV EXL (no nav) for $350 out of pocket, $350 a month for 36 months, all fees rolled in. 15k miles per year. This rate is based on MA tax of 5%.
  • iceyhotjiceyhotj Member Posts: 30
    Hi,
    I currently have the below offer:

    EX-L w/o Nav 2WD
    $1,000 down
    36 months with 12/k miles
    $359 a month with tax (in California)
    Destination, DMV fees etc. rolled into the payment (i think)

    Help!!!! is this a good deal??!!!! They are waiting for me as I type this!!!
  • hondalicioushondalicious Member Posts: 12
    Nope.

    Got my 2009 EX-L w/o Nav 4WD
    $0 down
    36 mo, 15k miles.
    $350 month w/tax (MA 5%)
    All fees rolled in.

    Lean on them a bit more.
  • crv_buyercrv_buyer Member Posts: 4
    Help! Is this a good deal to lease a 2WD CR-V EX-L w/ NAV for 36 mo, at 15k mi?

    Initial Cap Cost: $26,418
    $2000 down (incl down payment, first month, bank fee, DMV, Tax and License)
    Lease end value %: 55%
    Guarantee Lease End Value: $15,545.75
    Base Monthly: $390.20
    Total Monthly (incl my county tax in CA): $426.29

    Should I negotiate the initial cap cost lower, or make sure they are including the dealer cash?
  • stoopystoopy Member Posts: 105
    MSRP is $28,265 if your residual is $15,545.75. That means your sale price is a whopping $442 off sticker. You need to get AT LEAST $2,000 off sticker without putting any money down. You could lease a BMW 3 Series fully loaded for $426. It's ridiculously high.
  • dr973dr973 Member Posts: 2
    I am considering leasing a 2009 CR-V (LX or EX).. Below are the qoutes for a 12K mile/year lease that I received for each model from a reputable dealer in Northern NJ that I have dealt with in the past. Credit score is in the high 700's / low 800's. Not sure how to exactly evaluate the below or how to go about negotiating a better deal on either one. Is there any room to do so? Any feedback would be greatly appreciated.

    CR-V LX
    MSRP $23,115
    After Invoice/Incentive $21,000
    Out of Pocket amount $1,291.42
    Monthly Payment $302.42
    Residual .61
    Money Factor .0025

    CR-V EX
    MSRP $25,365
    After Invoice/Incentive $23,000
    Out of Pocket amount $1,347.76
    Monthly Payment $358.76
    Residual .61
    Money Factor .0025
  • kyfdxkyfdx Moderator Posts: 235,202
    Are you sure the EX has the same residual and money factor? Because, with the selling price of each car being about the same percentage off MSRP, the difference between lease payments should be about the same percentage as the MSRP difference..

    With the difference in MSRP and selling price at about 10%, the lease payment should only be 10% higher as well, or around $332/mo., not $358/mo.

    It's possible the residual numbers on the EX are different, which would account for the discrepancy, but if they aren't, then the EX payment should be lower. I like the EX a lot, but not $56/mo. more... :surprise:

    regards,
    kyfdx

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  • dr973dr973 Member Posts: 2
    Actually, I believe the residual may be .59 on the EX.
  • kyfdxkyfdx Moderator Posts: 235,202
    Given the monthly payments, that sounds probable...

    Prices seem decent... CR-Vs have never had really low lease payments, historically..

    The LX seems like a better deal, though if you want the goodies on the EX, that won't matter much...

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  • goinggonegoinggone Member Posts: 4
    Can anyone confirm the June 09 CR-V residuals for a 12k 36 month lease on:
    2wd LX
    2wd EX
    I've seen 61% on a few sites, but the advertised lease special on the Honda site works out to be 60%. I'm about to start working on some dealers and having accurate numbers will help. Also, the money factor I'm using is .0025, is this still correct?

    Thanks.
  • ClayClay Member Posts: 2
    I like the new body style for the CRV, but was curious if they've lost any room in the interior?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi goinggone. Here's the info 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 LX 2WD with 12,000 miles per year are .00250 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The numbers for an otherwise identical lease of an '09 CR-V EX 2WD are exactly the same.

    When negotiating your lease on this model, make sure to take advantage of the $500 dealer cash that is currently available on it.

    Car_man
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  • gilroy34gilroy34 Member Posts: 3
    Hi Car-man!

    You are just the person I'm looking for! I'm currently looking at a 2009 CR-V EXL with navigation. The salesperson is quoting me a money factor of .00250 and a 56% residual. Is 56% correct? Wouldn't it be the 60% you mentioned for the other CRV leases?

    Any help would be greatly appreciated!
  • bigdadi118bigdadi118 Member Posts: 1,207
    gilroy - probably yours is 12K mi/yr

    2009 Honda CR-V

    2009 Honda CR-V 4WD EX
    24-month | 15k miles | residual 67% | .00250 base money factor
    36-month | 15k miles | residual 59% | .00250 base money factor
    48-month | 15k miles | residual 50% | .00305 base money factor
    60-month | 15k miles | residual 40% | .00310 base money factor

    2009 Honda CR-V 4WD EX-L
    24-month | 15k miles | residual 64% | .00250 base money factor
    36-month | 15k miles | residual 56% | .00250 base money factor
    48-month | 15k miles | residual 47% | .00305 base money factor
    60-month | 15k miles | residual 38% | .00310 base money factor

    2009 Honda CR-V 4WD EX-L w/ Navigation
    24-month | 15k miles | residual 62% | .00250 base money factor
    36-month | 15k miles | residual 55% | .00250 base money factor
    48-month | 15k miles | residual 46% | .00305 base money factor
    60-month | 15k miles | residual 37% | .00310 base money factor

    2009 Honda CR-V 4WD LX
    24-month | 15k miles | residual 66% | .00250 base money factor
    36-month | 15k miles | residual 59% | .00250 base money factor
    48-month | 15k miles | residual 50% | .00305 base money factor
    60-month | 15k miles | residual 39% | .00310 base money factor
  • gilroy34gilroy34 Member Posts: 3
    Hey Bigdadi -

    Yes, it is 36 months at 12k miles. Is 56% correct? Car-man was talking about 60% residual for 36 month/12k leases on LX and EX. Would it drop this much for the EX_L w/nav?

    Are there charts that correspond with 12k miles leases?

    Thanks for the help!
  • bigdadi118bigdadi118 Member Posts: 1,207
    List is on 15K mi/year ... Looks like add 1% to the residual if 12K mi/year, 2% to the 10K mi/year
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gilroy34. You found me :) . Honda Finance's residual values for models with navigation are usually lower than they are for models without it. Its current residual value for a 36 month lease of a 2009 CR-V EX-L 2WD with navigation and 15,000 miles per year is 54%. If you were to lease it with only 12,000 miles per year, its resid would be 2% higher.

    Car_man
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  • gilroy34gilroy34 Member Posts: 3
    Much appreciated! Thanks for helping navigate the tricky waters of leasing.
  • ed1948ed1948 Member Posts: 2
    Do lease rates on Honda CR V's typically go down in late July/Aug when they are trying to unload the 09's?
    thanks
  • gilmorejgilmorej Member Posts: 6
    My local dealer is offering the following lease terms on a CR-V LX AWD
    $273 for 36 months
    $999 down
    12,000 mi/yr

    This is a closed end lease and I do not have the residual value they are leading.

    Opinions on out there on whether this is a good deal?

    Another dealer offered me the following terms on a CR-V EX-L
    $342 for 36 months
    $3,000 down
    12,000 mi./yr

    This did NOT seem like a very good deal
  • blueiedgodblueiedgod Member Posts: 2,798
    CR-V LX AWD $273x36 = $9828 + $999 = $10827

    CR-V EX-L AWD? Navi? $342 x 36 = $12312 + $3000 = $15312

    Is there $5000 difference between LX AWD and EX-L AWD Navi?

    It helps to compare apples to apples, and not oranges. Ask both dealers for qoutes on the same vehicle.
  • gilmorejgilmorej Member Posts: 6
    You're right...I believe the difference is $5,000 is the MSRP. I have the exact same lease offer on the LX from two different dealers. I have asked the dealer that gave the EX-L lease quote exactly which vehicle he is talking about since there is a range of prices depending on options....
  • irishdriveririshdriver Member Posts: 7
    Small scenario for which I seek local wisdom ;)

    Ive got a CR-V that I am in mid-lease through Honda financial. I have kept it in excellent condition and am within mileage etc. Due to growing family needs, I would like to purchase a larger vehicle.

    Based on my market research (local sales, edmunds, kbb, nada, etc.) my CR-V is worth approximately $17-$17.5k in trade. I have been offered these figures as well from local dealerships in trade. My current payoff (residual + remaining payments) is $18500.

    I contacted Honda Financial and they said that if I used the vehicle as trade-in there would be no additional fees outside of the payoff amount. My lease contract also prevents me from selling the vehicle to a third party (or transferring the lease) so if I wanted to sell it I would probably have to buy it myself, pay TTL etc., then sell it...which would negate any equity I might gain from Private Party sale.

    Long story short.

    What do I need to consider when trying to use this vehicle in trade-in? Will the dealership payoff the full payoff and then add the difference from trade-in value to the vehicle I am purchasing? I can accept the ~$1k negative equity to get out of the lease and into something more suitable.

    Helpful cliffs:

    Leased CR-V payoff is $18500.
    Trade-In Value is $17500.
    Financing for new purchase has been lined up through my bank, not a dealership.
    I have several thousand for down payment. (or should I put this towards the lease to remove the negative equity?)

    Many thanks!
  • sonoma34sonoma34 Member Posts: 8
    I am in the final stages of leasing the EX-L.
    What doe carman think of this deal?

    One time payment of $14,098.00, 36 month, 12K per year. Includes all taxes, doc fee, and registration. I am in a 6% sales tax state. looking to close the deal by first week of July.

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, gilroy34.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ed1948. Manufacturers do often get more aggressive with their lease programs as the model year progresses. The problem is that they are fighting an up hill battle because vehicles' residual values gradually decline as the model year progresses as well. The lower a vehicle's residual values are, the more expensive it is to lease. At some point, it becomes too expensive for manufacturers to provide attractive lease payments on leftover vehicles and they pull the plug on their special lease program.

    It's difficult to say what Honda's July / August lease program will be like on the Civic. It certainly is possible that it will get better (there's significant room for it to enhance this model's money factors), but I can't guarantee that it will.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sonoma34. The easiest way for me to evaluate a lease, particularly an advance pay lease such as this, is to look at the selling price that you are being charged for it. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is very difficult to tell how large a dealer discount you are being given. Let us know what the selling price is on this specific deal and I'm sure that either myself or another knowledgeable community member will be happy to tell you what they think,

    Car_man
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  • blueiedgodblueiedgod Member Posts: 2,798
    One time payment of $14,098.00, 36 month, 12K per year.

    Works out to $391.60 per month. What do you think?
  • sleepysoosleepysoo Member Posts: 54
    does anyone know the current residual on the 09 CRV EX 2wd? 36 month lease, 12k miles/year. I read on here that it was 60%, but when I got to the dealership, they told me it was 58%. And, from other posts, it seems like some people are quoted 56%? And, is $500 the only dealer incentives out there for the CRV?

    and, is anyone negotiating the price of the car below invoice to get your final monthly payments? Or are you guys all at invoice or a little over?

    thanks!!!
  • sonoma34sonoma34 Member Posts: 8
    2009 Cr-V AWD Ex-L - One time lease payment. OTD = $12,323.74

    Cap Cost = $25,609.00
    Residual value = $17,052.52
    amort amount. = $8,556.45
    Rent Charge = $8556.45
    Base Payment= $111.67.17
    Sales Tax= $670.03
    Reg/Title= $160.00
    Doc.Fee= $326.54
  • jimbowhojimbowho Member Posts: 9
    My wife would like to LEASE a Honda CR V 4WD EX-L for 36 months with 15,000 miles a year. Only other option she needs is REMOTE STARTER.

    Given that we're willing to go out of pocket $2,000. (for 1st, sec deposit, mv and cap cost red) how much would you be willing to pay per month in the central/south Jersey area?

    THANK YOU VERY MUCH!

    JimboWHO
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, sleepysoo. 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 12,000 miles per year are .00210 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The $500 dealer cash that you mentioned is the only cash incentive that is available on this model at this time.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Help is on the way, JimboWHO. Let's work up a lease payment on the vehicle that you're interested in and see what we come up with. According to my calculations, if you were to lease a 2009 Honda CR-V EX-L 4WD that has an MSRP of $27,955 and a selling price of $26,052 (dealer invoice...the dealer keeps the $500 incentive) through Honda Finance right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment would be around $$387, assuming that you qualify for its "Super Preferred" credit tier.

    I don't believe that a remote starter is available on this vehicle as a factory-installed option. If so, then it probably cannot be residualized. That means that you would have to pay for the entire cost of the option over the life of the lease. Just divide the price of the option by 36 and add that the the payment above.

    Car_man
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  • jimbowhojimbowho Member Posts: 9
    Only one additional question - who's better than you ?!

    Thank you!

    JimboWHO
  • leedgatorleedgator Member Posts: 3
    Car_Man your thoughts?
    Live in S FLA where my wife and I traded in 2007 Accord EX-L w/ 4 Lease payments remaining, using Honda "roll ahead" program , for an '09 CR-V EX (no extra options)
    here's where we ended up...
    $500 Down (includes 1st month)
    $322.50/month
    36 Month
    12K Miles
    thoughts? advice for next time?
    Kind Regards,
    Rob
  • car_neophytecar_neophyte Member Posts: 1
    On the edmund lease calculator there is an option to input "Money Factor". What is the current rate for a CR-V 09' EX-L 2WD?
  • gzkazmigzkazmi Member Posts: 2
    Hello
    I need help. If someone can guide me I would really appreciate it. Since it's Honda days sale... are there any good deals on CR-V 09 for leasing??
    Also I went to a dealership in PA 2 weeks ago and we worked some numbers out. Please tell me if it is a good deal or if i can work him to bring my monthly payments lower.

    down payment $5000

    CR-V 2009 EXL 12k@yr
    36 months= 350

    CR-V 2009 EX
    36 months = $250
  • bigdadi118bigdadi118 Member Posts: 1,207
    My local dealer has lease special

    down payment $0

    CR-V 2009 LX 4x4 12kyr 3 yr lease
    36 months= 268
  • pilot25pilot25 Member Posts: 24
    I got a quote for 22,227. Not including any fees. What kind of lease payment can I expect to see for 36 month lease, 12k miles with no down payment? Thanks for any help
  • jsherm007jsherm007 Member Posts: 12
    I was quoted the following yesterday, are these good rates?
    Car.........MSRP.....Selling.....Term .......PMT..Cash down
    CRV LX $23155 $20900 36 MO LEASE 309 W 680
    CRV EX $25405 $23000 36 MO LEASE 339 W 710
    PILOT LX $30205 $27200 36 MO LEASE 498 W 890
    48 MO LEASE 459 W 827

    These are all 12,000mi/yr, and include 6.5% sales tax, in the monthly payment and are all AWD models.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem jimbowho :blush: .

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Rob. The easiest way for me to evaluate this deal would be to take a look at the MSRP and selling price of the CV-V that you're interested in. Let us know what these numbers are and I'm sure that either myself or another knowledgeable community member will gladly give you their thoughts.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings car_neophyte. Honda Finance's current buy rate lease money factor for a 36 month lease of a 2009 Honda CR-V EX-L 2WD is .00210 for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gzkazmi. Honda's making a big deal about some special sale in its television commercials, but in reality its incentives...other than on the Accord and Civic...aren't very good right now. Its special lease money factor for the 2009 CR-V is currently .00210, which is equivalent to an interest rate of around 5%. That's not bad, but it's not much better than its standard money factor of .00285 (6.8%).

    Tthe first thing that I noticed about the deal that you mentioned in your post is the massive down payment that the dealer is asking you for. $5,000 is way too much money to put down on a lease. I always advise consumers to put as little money down as possible when leasing. Lessees who make large down payments risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you will be much safer going with a zero down lease.

    Car_man
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  • motoguy128motoguy128 Member Posts: 146
    There's not many deals right now because the CFC program depleated most of the inventories of the CR-V and Civic. Good old supply and demand... no need to discount a product that is in short supply?

    Using Honda's online lease vs. buy calculator, I determined that leasing would be just as if not more expensive than just doing a 60 mo. purchase. Both with $0 down. the lease, even requires the first payment up front...not with a loan. Wiht a 5.15% APR through my credit union, a lease didn;t make any sense... evne if I want to turn around and trade it in within 4 years.

    I think Honda is getting conservative on it's residuals. I think they are anticipating high inflation (increasing the cost of money), but a saturated used car market in the future. Especailly if gas prices take off again, even getting 26mpg, might not be so great if msot new vehciles being sold offer between 32-40mpg.
  • montiymontiy Member Posts: 3
    I am considering to lease in the next few days. Per Edmunds, the MSRP price listed for this is $28.945. We have been to a few dealrs who quote $459 + tax for 36 months and a trade-in value of $2000 for my old car.

    Is this a good deal , or i can get better ?

    I know CFC has exhausted the CRV from the market, but i hear they are coming with the 2010 in the coming week or so , which might bring the cost of the 2009 down. Is this true.
  • blueiedgodblueiedgod Member Posts: 2,798
    I am considering to lease in the next few days. Per Edmunds, the MSRP price listed for this is $28.945. We have been to a few dealrs who quote $459 + tax for 36 months and a trade-in value of $2000 for my old car.

    Is this a good deal , or i can get better ?

    I know CFC has exhausted the CRV from the market, but i hear they are coming with the 2010 in the coming week or so , which might bring the cost of the 2009 down. Is this true.


    Take the $459 multiply by 36 months and add $2000. You will come up with $18524 in rent for the privilige of driving the car for 3 years.

    You decide whether it is worth it, or not.
  • gzkazmigzkazmi Member Posts: 2
    ok my dealer is quoting the following lease of a CRV LX 4WD
    2500 down is 289 month including taxes... and 0 down for 367!
    MSRP 23523
    3 yr lease 12000 miles

    I am going to go on Monday to have a final talk... can anyone give me their opinion as to is this a good deal? Can i work him to bring the numbers down a little bit more? If there is anyone that had a better deal I'll love to know. This was at Piazza Honda in drexel hill, PA
  • blueiedgodblueiedgod Member Posts: 2,798
    ok my dealer is quoting the following lease of a CRV LX 4WD
    2500 down is 289 month including taxes... and 0 down for 367!
    MSRP 23523
    3 yr lease 12000 miles

    I am going to go on Monday to have a final talk... can anyone give me their opinion as to is this a good deal? Can i work him to bring the numbers down a little bit more? If there is anyone that had a better deal I'll love to know. This was at Piazza Honda in drexel hill, PA


    The first is better by $300 over the life of the lease, probably due to less finance charge due to the downpayment.Otherwise, they are identical.
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