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Honda CR-Z Lease Questions

kyfdxkyfdx Moderator Posts: 241,395
Ask your CR-Z lease questions here!

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    pikeymikeypikeymikey Member Posts: 4
    Looking for MF & residual on a 36mo, 12k/yr & 15k/yr lease on a 2011 Honda CR-Z EX automatic transmission for South Florida
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome pikeymikey. Here's the information that you're looking for. Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-Z EX without navigation with 15,000 miles per year are .00200 and 65%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    rwhitedrwhited Member Posts: 1
    Hi Car_man

    I saw the previous post from pikeymikey regarding the 2011 CR-Z EX without navigation. You indicated the money factor and residual value was .00200 and 65% respectively (assuming "Super Preferred" credit tier). I also live in South Florida and I tried to use these numbers to negotiate a 36 month lease at a local dealership. The sales guy looked at me like I had three heads. He said that both numbers were incorrect for a 36 month lease on that vehicle. I must admit I'm not the best negotiator, but was the sales guy bluffing? Could you check your numbers and reply back?

    The payment I was quoted on that vehicle assuming no money down and 15K miles per year was $382.32. I did some math and it looks like the money factor and residual he used was .0029915 and 56%.

    Thanks in advance for your help...
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    isellhondasisellhondas Member Posts: 20,342
    I realize I retired in May before the CR-Z's came out but I have NEVER heard of a 65% residual on ANY Honda EVER!

    Especially on a 15,000 mile 36 month lease.

    I can find out for sure but I don't think these numbers are accurate.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rwhited. Those numbers are definitely correct. Individual dealers do not have the authority to alter Honda Finance's published residual values for vehicles, so the 65% for a 36 month, 15k lease is what it is.

    Not surprisingly for such a brand new model, Honda is not currently providing any lease support on the CR-Z. As a result, if one was to lease one through Honda Finance right now, they would have to use its standard lease money factor...which is currently .00200 for 36 month terms for consumers who qualify for its top aka "Super Preferred" credit tier.

    It sounds like the salesperson may be trying to make the lease program sound worse than it is to hide some additional profit in your deal somewhere.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm prety sure that this residual value is. It's not that difficult to believe that a brand new model would have a 65% residual value when an '11 Odyssey has a resid for the same terms in the 60%s as well.

    I'll make some calls and double check it to day to make certain. I'll let you know if I find out anything different.

    Car_man
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    isellhondasisellhondas Member Posts: 20,342
    edited October 2010
    OK, I just checked and the 65% residual is for a NAVI model on a 12,000 mile lease.

    The EX model has a WHOPPING 68% residual!

    These are three year, 12,000 mile leases and I can't understand for the life of me why Honda would set those residuals so high???

    I don't see these being huge sellers but maybe Honda knows something I'm unaware of?

    For those who like to lease this would be one heck of a great deal!

    Or they may lose thousands at the auction three years from now?

    I've never seen anything even close to those numbers!
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    isellhondasisellhondas Member Posts: 20,342
    Well, yes it IS difficult to believe that a brand new model would have such a high residual.

    It's a new model and it's a two seater. Two seat cars appeal to a VERY small market and as used cars they have never been great sellers. Maybe these will be different but I doubt it.

    The 2011 Odysseys are incredible and they are going to blow the market away. Used Odysseys have always been in very high demand therefore they SHOULD have a high residual.
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    wantolease1985wantolease1985 Member Posts: 1
    edited October 2010
    Sorry if this is a commonly asked question but is it safe to assume that the state in which you leasing the vehicle in affects the MF and residual. And if so is there anyway i can find them out for the following?

    36mo, 12k/yr & 15k/yr lease on a 2011 Honda CR-Z EX manual in Rochester, NY

    Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Some manufacturers' lease programs vary by region and some don't. Honda's current lease program is national, so it doesn't matter what state you are in.

    Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a base 2011 CR-Z with 15,000 miles per year are .00200 and 66%, 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 would be 2% higher.

    Car_man
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    isellhondasisellhondas Member Posts: 20,342
    I've never seen a residual that high on any Honda.

    The either are having trouble selling them or else thay have lofty predictions for thier resale value down the road?

    Slick little cars if a 2 seater will work for you!
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    kyfdxkyfdx Moderator Posts: 241,395
    having trouble selling them

    That seems most likely...

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    isellhondasisellhondas Member Posts: 20,342
    That's what I suspect and Honda will pay later at the auction when they can't get anything near their residuals.
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    ae86pwrae86pwr Member Posts: 9
    Hello Car_man,

    Can you give us the current rate on the CR-Z EX 6-speed?

    Thanks.

    :)
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly can, ae86pwr.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-Z EX without navigation with 15,000 miles per year are .00200 and 65%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    kyfdxkyfdx Moderator Posts: 241,395
    WOW! That's a high residual...

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    ae86pwrae86pwr Member Posts: 9
    Few Honda dealers claiming my calculation on the edmunds.com lease calculator was wrong. After drilling down their number it turns out they throw in Tracking Device and GAP insurance after the negotiated selling price.

    (their excuse was "it helps them getting the loan application approved" - i call BS on that)

    Shoppers beware.

    Thanks.
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    kyfdxkyfdx Moderator Posts: 241,395
    All Honda Finance leases have GAP insurance included for no extra charge... :surprise:

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    lingbeaglelingbeagle Member Posts: 3
    Hello,

    I'm looking to find out the MF and residual % for a 2011 EX CVT with/and without NAV.

    Thanks!
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    lingbeaglelingbeagle Member Posts: 3
    Oh, also I'm in Oregon if that matters.
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    lingbeaglelingbeagle Member Posts: 3
    For a 12000mi/36month lease. Sorry about that!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lingbeagle. Through July 5th, Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-Z EX without navigation with 12,000 miles per year are .00185 and 63%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The money factor for an otherwise identical lease for the CR-Z EX with Navigation is the same, but its residual value would be 2% lower.

    Honda is scheduled to introduce a new July lease program some time tomorrow. Please feel free to check back with me for an update.

    Car_man
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    blkciv09blkciv09 Member Posts: 4
    I received an email for a CR-Z Lease of $139/ month for 36 months. 12,000 miles a year with $1995 down plus $595bank fee..and of course tax and tags. It's saying the residual is $14,512. My plan was to trade in my 2009 Honda Civic LX Coupe (In pretty good condition except for the usual ding here and there). Between Edmunds and KBB, its estimating I could get upwards in the $14,500 range for the car. Do you think that is possible?
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    zkaudiozkaudio Member Posts: 60
    Could you forward me that email or at least paste it here? send to 2006gulfstream@gmail.com

    Thanks!
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    blkciv09blkciv09 Member Posts: 4
    Here is the lease they are offering for the CR-Z EX

    http://www.huntingtonhondacars.com/ad.aspx

    It's been going on for a couple of weeks now..actually there are a couple of seemingly good deals on there.
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    cliff31cliff31 Member Posts: 3
    Carman, will you please let me know what the current lease rates are for the EX.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, cliff31. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-Z EX with 15,000 miles per year are .00185 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    rydog79rydog79 Member Posts: 4
    Car_man,

    Will you please let me know the current lease rates for a crz ex?

    Thanks!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Sure rydog79. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2012 CR-Z EX with 15,000 miles per year are .00185 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    ducat13ducat13 Member Posts: 35

    Hello CarMan,

    Can you please provide current lease details on 2014 CR-Z? Looking for residuals and money factors on 36-month (or shorter term if offered). Only need 10K/yr miles (if that's offered)...otherwise 12K/yr is fine.

    Thanks!

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    smartin104smartin104 Member Posts: 42

    hi there... could you share the MF and RV for 24/12 and 36/12 for the 2014 CR-Z EX and EX with Navi... thank you kindly... northern NJ

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    kyfdxkyfdx Moderator Posts: 241,395

    @smartin104 said:
    hi there... could you share the MF and RV for 24/12 and 36/12 for the 2014 CR-Z EX and EX with Navi... thank you kindly... northern NJ

    I can't find any money factor incentives on the CR-Z.. If that is the case, then the 36mo money factor is .00160 and the residuals are 56% for EX and 54% for EX w/NAV.

    With no incentives, the 24 month lease wouldn't work, at all.

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    psanderspsanders Member Posts: 13
    Hi kyfdx -
    I'm interested in leasing a 2015 Honda CR-Z 3DR BASE.
    Can you please tell me the July 2015 money factor and residual value for a 36-month lease (12,000 miles per year)?
    Thanks.
    psanders
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    psanderspsanders Member Posts: 13
    Forgot to add: lease would be in Los Angeles, CA.
    Thanks.
    psanders
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    MichaellMichaell Moderator Posts: 244,181
    psanders said:

    Hi kyfdx -
    I'm interested in leasing a 2015 Honda CR-Z 3DR BASE.
    Can you please tell me the July 2015 money factor and residual value for a 36-month lease (12,000 miles per year)?
    Thanks.
    psanders

    psanders said:

    Forgot to add: lease would be in Los Angeles, CA.
    Thanks.
    psanders

    55% for 36/12. I don't see a supported MF, so I'll assume the standard MF of .00165 is in play.

    $1000 lease cash.

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    psanderspsanders Member Posts: 13
    Thank you!
    psanders
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    momo97momo97 Member Posts: 58
    Hello! Would you know the September residual/MF for 2015 CRZ for 36/12 or 24/12 in northern california? Thanks!
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    kyfdxkyfdx Moderator Posts: 241,395
    momo97 said:

    Hello! Would you know the September residual/MF for 2015 CRZ for 36/12 or 24/12 in northern california? Thanks!

    Base: 60%/54% residual
    EX: Subtract 2%
    EX w/NAV: Subtract 4%.

    $1000 dealer cash + $1000 bonus lease cash.

    .00165 MF

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    floridagator1floridagator1 Member Posts: 68
    @kyfdx @Michaell 36 months/10k MF and residual.. Any incentives? thanks located in FL
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    kyfdxkyfdx Moderator Posts: 241,395

    @kyfdx @Michaell 36 months/10k MF and residual.. Any incentives? thanks located in FL

    36/12 (no 10K/yr allowance for Honda)

    .00165 MF and 53%/51%/49% residual for LX/EX/EX-L

    No incentive information.

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    kcrossleykcrossley Member Posts: 182
    Can somebody tell me the money factor and residual for a NEW 2016 CR-Z LX? I'm interested in both a 12 and 15k per year lease. And yes, this is a 2016 model located in Virginia.

    Also, what incentives, if any, is Honda offering on this model, both 2016 and 2017?

    Thanks!
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    MichaellMichaell Moderator Posts: 244,181
    kcrossley said:

    Can somebody tell me the money factor and residual for a NEW 2016 CR-Z LX? I'm interested in both a 12 and 15k per year lease. And yes, this is a 2016 model located in Virginia.

    Also, what incentives, if any, is Honda offering on this model, both 2016 and 2017?

    Thanks!

    There is no model year 2017 CR-Z

    And, no supported programs for the 2016 CR-Z - .00200 MF and 48% / 46% is what I show. No incentives.

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