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2013 and earlier-Honda CR-V Lease Questions

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Comments

  • nissanman42nissanman42 Member Posts: 5
    Here is my thought on this. The CRV EX-L WITH navigation is listed for $30,675.00. The residual from what I understand is 60% on this trim line ($18,405.00). I am not sure what the exact MF is here but its def under 2%. If you do a 36 month lease with 12k a year, your monthly payment with no Cap Cost Reduction (no money down) should be around $270 per month based on the lease formula. What is due to the dealer is: First months payment, sales tax in advance, Doc, DMV fees/Tire Fee, Acq fee plus tax. So basically, you have to pay the dealer (at least here in NYC area-Long Island, Westchester, Rockland) around $1930-$1980 to drive the car away. You are still not "paying any money down" here since there is no cap cost reduction. If the Gross Cap cost of the car is $27,600-$28k-in that range, your payment should be in the $270 range. If I am missing something in my calculation, feel free to chime in.
  • gfr120gfr120 Member Posts: 2
    Hi
    just got a deal for Honda CRV EX-L 4WD...299/= month (no down payment)...after much negociation... IS IT GOOD ..??

    ALso what is the breakdown of the taxes and fees (i mean all in all) that i need to pay before I get the car..??? considering I want to pay all taxes and fees etc upfront...

    Dealer told me DMV plates/ State tax/ Bank fees/ Destination fees/ tyre fees ....is there anything else...dont know how the total for is coming around 2800/=.....i am in NY...
  • beclin1beclin1 Member Posts: 3
    I always appreciate it when people post their deals here for comparison, so here's the skinny on a lease I'm picking up tomorrow.

    Urban Titanium EX-L 4WD w/ roof rack
    36 mo / 15k miles per year
    Mass taxes @ 6.25%
    Residual 58%
    MF = .00059

    Final cost, including all taxes/fees/registration:

    $344.00/mo with $344.00 (first month) due at signing.

    This pretty much equals the deal I got three years ago on my Accord EX-L 4cyl, so I consider myself happy.

    Cheers
  • nissanman42nissanman42 Member Posts: 5
    I am assuming this is WITHOUT the navigation right? I thought the residual was 60% on the EX-L trim line? Was that lowered for April? Also, what was the total due when you drove away the car with everything? How much was the Doc fee?

    Thanks!
  • bpaliwalbpaliwal Member Posts: 4
    Is this a good deal for 2011 CR-V EX-L no navigation? This is in the Bay Area, CA.

    ------------------------------------------
    0 down
    815 (1st month payment + fees)
    330+tax monthly
    residual: 16180.75
    ------------------------------------------
    Any suggestions to negotiate a better deal will be appreciated.
  • packer3packer3 Member Posts: 277
    I think it's fair, I mentioned in one of my threads over a month ago my friend came over the house and pulls up in a white EX-L with leather 3yr 15K miles per yr no money down @ $300 a month. I think you did good, my first 2011 CRV SE that I leased in Jan was $700 down $265 a month 15K miles per yr at that time was good, Hondas next months special for the SE was at $230 per mth. I think it's also about timming and great luck at times. You did good. Rte 22 Honda in Hillside NJ really has great deals Mohammed the sales rep is the real deal.
  • bpaliwalbpaliwal Member Posts: 4
    Finally drove off the EX-L w/o Navigation with the following:

    ------------------------------------------
    0 down
    799 (1st month payment + fees)
    330+tax monthly
    residual: 16180.75 (60%)
    4 oil changes @ the dealship
    ------------------------------------------
    Dealership name: Honda of Hayward

    Did most of the nagotiations over the phone, compared with some other local dealers and then went over to the dealership.

    One thing though: I went there almost at closing time and was at the dealership till about 11:30pm. They asked me to come back the next day so they could wash the car. But I believe they just wiped it or something the next day - what heck, the deal was over and papers signed, right? So please be careful or simply get a car wash yourself.
  • saltydog1959saltydog1959 Member Posts: 1
    Greeting from Nashville, TN ... negotiated via phone last week with 3 local dealers ...

    Cut this deal for a 36mo 12k/yr lease on EX-L 2WD w/o nav:

    list price- $27,425
    selling price- $25,566
    MF- .00059
    residual- $16,180.75
    0 out of pocket
    mo payment (including tax)- $325.79 (35 payments, 1st mo paid by Honda)
  • lairdwdlairdwd Member Posts: 56
    edited May 2011
    20963 - cap cost on 2011 CR-V LX 4WD
    .00059 MF - April - Tier one super preferred

    0-0-0-0 lease at $244/mo - True 0 OTD.

    Boston Area honda - Silko, negotiated over the internet. They are the ones that are willing to deal, the other Boston area dealerships were much higher. Salesman did try to add doc fee and other fees, but I brought a printout of my negotiations with the online guy and had him very clearly spell out in the email the terms of the offer. After the usual song and dance with the sales manager, they agreed to honor the $244/mo.
  • mazalmazal Member Posts: 2
    PLEASE TELL ME IF GOOD DEAL... I am new to car market.

    I am about to sign a CRV HONDA LX 4wd.

    280 a month 0 down, and only need to pay 600 upfront for 36 months. That included all fees. Buy back 14k.

    If you know anywhere else that I can find a better deal, please refer to me to the proper person and dealer.

    Thanks!!!!
  • mazalmazal Member Posts: 2
    back to #935, what else should i find out from dealer to know if good deal. I was told that delear invoive is 22,200 and the sticker price online is 23375. Now how does it work from there? all this for CRV LX 4WD.

    DO you think he can lower it, or if I can ask for extra perks??
  • packer3packer3 Member Posts: 277
    If you live in NJ Rte 22 Honda ask for Mohamed $204 a month $2200 down special of the month, you could put less down and pay more per month. I think it's unsally $15 more per month for every $500 down. Just mentioned a guy who just leased 2 CRV's and a Civic for his son a few month ago he will know
  • slytekslytek Member Posts: 12
    I just cut this deal in Cortland, OH. I think its decent compared to other deals posted here.
    I put down total of $1680 OTD. This included first month payment. I now have 35 payments left of $300 even. This is 36month lease, 12k annually. Glacier Blue Metallic. Residual was 60% and money factor 0.00078. MSRP was $28675 and i negotiated down to $26679 (Base Cap Cost)
    What you all think?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mazal. It's great that you know this car's MSRP and invoice price, but it would be helpful to find out its selling price as well to tell if this is a good deal. The closer the selling price is to invoice, the better.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • mas1231mas1231 Member Posts: 1
    My lease on a 2008 Honda CR-V LX is up in August. I spoke to the dealership (NY) to get a sense of the ballpark on the monthly lease for a 2011 CR-V EX-L. I mentioned that I only have 19,000 miles on a 36,000 mile lease and he indicated that given the shortage of available Honda CR-Vs because of Japan, dealerships would probably give some equity for an under-mileage vehicle.

    Clearly, this is an unusual situation. Any sense of a ballpark on what I could/should expect to receive? Thanks
  • mmman2k8mmman2k8 Member Posts: 15
    Looking for an all wheel drive LX standard here in NY. Lowest I could find was the following:

    Down: $900 (taxes)+dmv fees
    Monthly:$270

    Seems high, every dealer I went to says the same thing "We have a shortage due to the earthquake in Japan"

    Anyone can help me out I would appreciate it. Sticker was $23,something (base model LX) no add ons.

    Let me know thanks!
  • johnl123johnl123 Member Posts: 1
    I have a 20011 Honda CRV SE with 5000 miles and is only 5 months old. Two engine bolts broke while driving. The government should force Honda to do a recall. The dealer, GO Honda in Westminster, Colorado was nasty and could not care less. Honda motors just read me the usual lemon laws routine. Anybody elase have a similar problem. People could be killed.
  • kfitzykfitzy Member Posts: 2
    My Accord lease is up in a few months. I'd like to lease the CRV. Anyone in NY have a good deal lately, no money down. What is lease payment?
  • bri_turnbri_turn Member Posts: 18
    I just got lease docs FedEx'd from Weymouth Honda and I cannot for the life of me figure out how they arrived at the gross cap cost. It is a sign and drive lease and the following is directly from the docs:
    Agreed sell price: $24,349.88
    Residual Value - $15,615
    Doc Fee - $239.00
    MF - .00068
    Lease payment $310.13 for 36 months
    I am in Westchester County New York, sales tax rate 7.375%

    They have a gross cap cost of $25,766.79
    I have tried all different combinations of different tax rates, with and without an advance payment, and I cannot come close to their cap cost.

    Please help!!!

    Thanks in advance and let me know if any addt'l info is needed.

    Brian
  • isles1isles1 Member Posts: 119
    I'd tell them to take a hike on principle re: that inflated doc fee.

    Did you figure in sales tax on the cap cost reduction?

    What model CR-V is this?
  • bri_turnbri_turn Member Posts: 18
    2011 CRV EX 4WD
    There is no cap cost reduction. I think taxes are included in the gross cap cost, but I am not 100% sure since I can't back into this cap cost no matter what combo of tax rate, $595 bank fee, $239 doc fee I use.
    The doc fee is high, but the sell price is considerably lower than I can find locally in NY. The dealer is in MA.
  • delta737hdelta737h Member Posts: 626
    edited June 2011
    bri turn,

    Unless it's changed, the maximum dealer doc fee in NY State is $75. However, if you leased the vehicle in Mass., the $239 doc fee is probably legitiimate. You need to ask the dealer for a copy of their lease worksheet. This is a computer generated document that the dealer must submit to AHFC along with the lease agreement. The lease worksheet will tell you everything you need to know. Something is missing or not right with the numbers you provided. I get a payment of $312.44 including NY sales tax @7.375%.

    If you need help, let me know at autoleasegeek@zoominternet.net

    John
    The AutoLeaseGeek
  • kyfdxkyfdx Moderator Posts: 235,188
    "Sign and Drive" might mean something different to the dealership, than it means to you (or, any other normal person)..

    I'd ask them what (if any) amount is due at signing... Don't be surprised if it includes that doc fee and some other registration fees..

    That looks like a pretty decent lease for a CR-V... historically, small SUVs have not been cheap to lease..

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    Did you get a good deal? Be sure to come back and share!

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  • delta737hdelta737h Member Posts: 626
    bri turn,

    Okay, here's what I've got and it does match the dealer...

    Sell Price........................ 24,349.88

    Amounts Capitalized
    Acq Fee......................... 595.00
    NY Tax 7.375%.......... 821.92**

    Gross Cap..................... 25,766.80
    Cap Reduction.............. 0.00

    Adj Cap....................... 25,766.80

    Residual..................... 15,615.00
    Money Factor.............. 0.00068 Term......................... 36

    Taxable Base Payment. .. 286.74
    Payment (inclu Tax).... 310.13

    You did say that this ia a sign and drive. However, the $239 doc fee is not included nor are the license/title/plate fees which you'll probably have to pay up front unless they're embedded in the sell price. If so, that's bad accounting on the part of the dealership. The sell price in virgin territory and should never be touched or adjusted in any way as it reflects the value of the vehicle.



    John
    The AutoLeaseGeek
  • miamiboymiamiboy Member Posts: 2
    2011 Honda CR-V EXL with Navigation:
    MSRP: $29,655
    Price: $28,255
    36 month lease w/12K per year
    Super Preferred HFC customer
    Money Rate: .00078
    Residual: .58
    Total out of pocket: $3,000.
    Payment: $324 plus tax
  • wujohnwujohn Member Posts: 3
    Hi,

    Please let me know if this lease looks good, bad, or just ok...Thanks.

    CR-V EX
    Price: $21,576
    Monthly: $286.03 (including taxes)
    Due at signing: $759 - includes first month's payment, registration and doc fees.

    I will be looking to buy something in the next day or so; your feedback is much appreciated.

    Thanks,
    John
  • wujohnwujohn Member Posts: 3
    ^^^^^^^^^
    I am sorry, this is suposed to be the cheapie LX model.sorry for the confusion.
  • jaipurkingjaipurking Member Posts: 1
    Hi I am in southern California. A friend of mine got crv ex for 1220 down include first month all fees included otd Followed by 248/month including taxes for 35 months. I am thinking of getting the same deal if it's good. Any opinions would be appreciated.
  • wujohnwujohn Member Posts: 3
    Hi Car Man,

    Can you please help confirm the MF and residual for an LX and SE in So Cal? I am being told it is .00078 and 61%. If that is true, I cannot figure out these numbers for an LX

    Cost: $21667
    Down $397
    Monthly: 276 plus tax

    I guess I am missing some fees??? Any help is much appreciated.
  • deladanedeladane Member Posts: 1
    Hi Everyone,
    I am looking to lease the CR-V EX model (no leather) in NY. I was given the following quote, and was wondering if anyone can tell me if I'd be getting a good deal...

    $320 per month for 35 months
    dealer pays 1st month payment
    Zero down
    price includes taxes
    12,000 miles

    Any feedback is greatly appreciated! Thanks!
  • ozbilozbil Member Posts: 1
    Hi,

    Would you mind telling me which dealer you got the quote from.

    Thx.
  • toledo73toledo73 Member Posts: 174
    I get 269.14using the iPhone lease app and assuming 8.25 sales tax, as it is here in San Jose. But at sb Honda I was quoted 20,500 selling price
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi wujohn. The numbers that you were quoted are indeed correct. If you provide me with this car's MSRP and selling price I would be happy to work up a payment on it for you.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • ckapckap Member Posts: 1
    Boston lease question - does this seem like a reasonable price for a 2011 CRV EXL?

    $1800 total out of pocket for the inception fees: $125 reg; $299 documentation; $595 acquisition; $790 Destination.

    12k miles/ 36 months $300/mo + tax
    12K residual is 60% @ $17,343
  • stlandroidfanstlandroidfan Member Posts: 3
    Hello,
    I recently received the following quote for a 2011 CR-V LX AWD on a 36 month 12,000 mile/year lease.
    MSRP: $23,725
    cap cost before reductions: $22,687
    money factor (this is the current Honda Financial promotion): 0.00078 = 1.872% APR
    residual value: 0.62
    downpayment: $1,500
    my taxes are roughly 6% (state of MO)
    acquisition fee: $595 (standard Honda fee)
    dealer's "fee": $199 (seems standard across dealers)
    adjusted net capitalized cost: $21981
    total monthly payment with taxes/fees/acquisition fee/dealer's fee rolled into the lease: $251.49
    Total payment made @ lease beginning: $1888.99 ($1,500 down + first month's payment + taxes)

    I am now trying to get other dealer's to match this quote. They all have agreed to match it. The first dealer advertised it as a "special" but I realized that was because they were omitting the $595 + $199 fees from the lease and accounting for them as upfront payments in addition to the $1,500 downpayment. Calculated this way, their "advertised" special was $179 but this did NOT include taxes. The quote I provided is actually from a second dealer that agreed to provide something in writing. Even if I decide to go through with this deal, I'm definitely more likely to go there than the first place because at least they provided something in writing.

    Later on, I realized that this deal is not so special, particularly after all other dealers I contacted were perfectly happy to match it.

    How much wiggle room is there to bargain?

    I have to say that trying to get ANY of these dealers to email me a quote has been EXTREMELY DIFFCULT. It's worse than pulling teeth. The first place I visited in person refused to provide me with anything written. They pulled out a business card to have me write down some of the information. They would not provide the MSRP or any of that until I kept bugging them. They said that this information was so "fluid." I brought in a Consumer Reports-produced tally sheet and the dealer said that it was bonkers and that it rarely matched how real life deals go so they didn't even bother filling it out for me. I was quite disappointed and left the dealership. I am trying my negotiating skills over the email now.

    Most dealers would give me only the monthly payment over email. It's almost as if they are afraid to provide anything in writing. I wouldn't give out my phone # to anyone because I'm not wasting my time with phone conversation sales pitches from 8 dealers. And of course they all tried to set up "phone appointments" with me. I told them no and some of them stopped responding after that. This is so dishonest and ridiculous.
  • delta737hdelta737h Member Posts: 626
    The $22,687 sell price is way too high. That needs to come down by about $2,700. So, it's no wonder they all matched it.

    John
    The AutoLeaseGeek
  • stlandroidfanstlandroidfan Member Posts: 3
    $20,000 sounds great for a price. Nevertheless, when I looked up the TrueCar.com price for the 2011 CR-V LX 4WD, it listed $22,117 as the dealer price. Perhaps this price is not an accurate reflection of all the dealer kickbacks and incentives from Honda?

    I am going to be firm and ask them to lower the capitalized cost price.
  • contract_buildcontract_build Member Posts: 26
    Dear stlandroidfan,

    delta737h has helped a lot of us here on the forums over the years, and his advice is always solid!

    The only thing I can add is to check out the the lease configurator at Weymouth Honda HERE (already set up for your 6% tax). You can probably use this info in your negotiations.

    Let us all know how things go, ok? GOOD LUCK!
  • delta737hdelta737h Member Posts: 626
    You need to check a variety of sources for pricing data (edmunds, kelly blue book, etc). The idea is to estimate dealer cost, which no one knows, not even sales people, except for the dealership owner and a few others. You want to start with published dealer invoice and, then, deduct holdback and any cash to dealer incentives. Then, knock off another $500 for good measure. Next, comb the edmunds forums to see what others are paying and make appropriate adjustments if necessary. That's where to start negotiations.

    John
    TheAutoLeaseGeek
  • stlandroidfanstlandroidfan Member Posts: 3
    edited July 2011
    I am not at all doubting delta737h's info. In fact, I was ecstatic when I read his post. It made me realize that the first dealer's $179+taxes+fees deal was a crap deal. I always had suspicions, but now I am glad that someone much more knowledgeable than myself confirmed that my suspicions were true.

    I just want to make sure that the dealers don't flip out on me. I'm going to try and negotiate the cap cost down to $20,000. If they say no, I'll walk away.

    I wish they had a law whereby dealers would be required to share all the lease calculations with the customer. Sort of like the 'truth-in-lending' statement with home mortgages.

    I also read that in many cases, customers will negotiate the cap cost down but then the dealer will turn around and use the MSRP in the monthly cost calculations. They will hide that from the customer. That's why I want to get all the info from the dealers so that I can do the calculations myself.
  • delta737hdelta737h Member Posts: 626
    contract build,

    Many thanks for your kind words.

    All the Best,

    John
  • delta737hdelta737h Member Posts: 626
    slandroidfan,

    Currently, the FRBB's Rgeulation M, governing leases, does not require money factors/interest rates to be disclosed. However, as part of your documentation package and, in addition to your lease contract, ask the dealer for a copy of the LEASE WORKSHEET which every Honda dealer must submit to AHFC. This is a computer genrated document that discloses all pertinient data that you'll need for all calculations and then some. The calculations are straight forward.

    Good luck!

    John
  • postytsxpostytsx Member Posts: 15
    Hi Car_man,

    Trying to help my niece with a lease, and I'm wondering if you can provide me with the August Lease Rates (Residual & MF) for a Honda CR-V EX-L 2WD. Interested in both 12,000 and 15,000 miles per year for 36 months.

    Thanks!
    PostyTSX
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, PostyTSX. Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V EX-L 2WD with 15,000 miles per year are .00078 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The residual value for a lease with only 12,000 miles per year year would be 2% higher.

    Car_man
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  • postytsxpostytsx Member Posts: 15
    Thank you so much Car_man! Truly appreciate the help.
  • junobearjunobear Member Posts: 22
    Hi Car_man,

    Similar but slightly different: I'm looking for the EX-L 2WD w/NAV; 12,000 miles a year 36 month lease.

    In California. What would the numbers be?

    (It's been a few years since I've been here on Edmunds!)

    Thanks!
  • jmsnycjmsnyc Member Posts: 20
    edited August 2011
    Don't have all the details yet - trying to help mom

    she is getting $375 a month for Ex-L with Nav for 36 months 4wd, 12k miles/year

    She currently has a lease with a few months left and thats going to offset taxes fees etc.

    is that too high??? also is higher residual value better if you do not plan on buying the car at the end?

    also, they didnt tell her
  • reklakreklak Member Posts: 1
    Looking to get a good price for a 2011 Honda CR-V EX with no additional options - the MSRP I think was 26255 on the website. Factor in NY taxes of 8.625 taxes and 15K miles a year for 36 months. I am figuring 383 is too high but can someone break it down for me?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome postytsx.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome back junobear. Don't be such a stranger :). Honda Finance's August buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V EX-L 2WD with Navigation and 12,000 miles per year are .00078 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
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