2014 Honda CR-V Lease Questions

Karen_S

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gillb

Its times like this I wish I was smarter.

I came across a post from a few weeks back which was:
2014 CRV LX FWD
$1000 down (first payment, title, doc fees)
$260/month all inclusive with a 62% residual and .0008MF and 12K miles/year

When I ran the numbers from your link through the bankrate lease calculator modified a bit I get:
MSRP: 23,775
Cap Cost: $22834 (I added in $595 lease fee)
Down Payment: $0
Sales Tax 7.19 (Florida)
MF: .00081
Residual: 59%
Total Payment: $262.24

What I surmise if the lease calculator is accurate is that the national lease deals from AHF are not necessarily all that attractive.
I'm going in, in a few weeks to lease a vehicle and I'm not even going to talk money with the Salesman or Sales Manager. I just want to sit down with their Finance/Lease Manager for 20 minutes and run through my scenarios verses his national specials and see what works out best.

dslunceford

I'm a bit dense I just realized that when I leased my Civic LX 32 months ago that I emailed dealers and asked them to beat the national lease offer they had at that time (0 down, 35 payments of $200). I ended up with 0 down, 35 payments of $163 and 6 free oil changes.

Have that email template and spreadsheet still in Google Docs, so will use that as basis to see how/who can beat the national lease deal.

newleaseguy123

just closed a deal for a 2014 CRV LX in NY state. 36 months, 12k miles a year. $269/month and $419 at signing (includes 1st month and registration, etc). good deal?

gillb

Definitely sounds like a good deal and what I'll be shooting for.

My 2010 CRV was an EX. I'm kind of curious what color you got. I'm still trying to get over my issue with those black side view mirrors that don't match the body.

newleaseguy123

i got the polished metal metallic, but the Urban Titanium Metallic looks really nice also, i feel you can do no wrong by going with a dark color

gillb

Last week I was working on the Mazda CX-5 Touring and its just more money then I want to spend at least in comparison to the CRV-LX. Because of how the two companies structure their trim levels and the fact that you can drop a trim level with Honda and you get the same engine makes it a bit of an apples and oranges comparison but at a $40-$50 per month difference I'll go with Honda.

If you don't mind me asking what was the Cap Cost/Selling Price on your deal to get to that monthly number?

ohiocrvlease

I'm in Ohio, looking for a lease on a CR-V LX AWD, and the best out-the-door price (taxes, everything) I've been able to get the dealer toffer is 300/mo with 0 down, no first month payment. Can I do better?

Would waiting until closer to the end of the month help?

Thanks!

gillb

I've been told that if you read the fine print of the lease, its not quite what you think it is based on your description. I don't know if the numbers are significant or not in Ohio but I think you'll find that when you sit down to do the deal you are going to get hit with doc fees, registration other dealers fee if there are any and all the stuff that remains hidden until the last few seconds. If not great and if the number is insignificant fine....but be cautious.

lny

According to 'real car tips' Honda dealers will receive $3000 for each Honda they sell above what they sold in December 2012. Might be worth looking into. Ends Jan. 1.

dslunceford

I don't care about any of those fees. When I send emails out looking for best price, whether lease or buy, I ask for the OTD price including all fees, registration, tags, title, etc. That way you are looking apples to apples...

gillb

In Florida those additional fees add up to over $1000. Just registration and doc fees are $1000 in Florida. In Ohio it could be 25% of that.
In addition to trying to negotiate the price I want, I bring these other deals to the attention of the dealers and say....why can't I get this deal. Like in your case, I think you and I see the words zero down and we think zero down. But that's not the meaning, zero down, per the fine print in the lease just refers to the first months payment.
I'd be curious what your experience is, if in fact OTD is really your OTD number. I'll be taking a final crack at this next week and then moving on to either a Kia Soul+ which is significantly less money or perhaps a Mazda 3 with the 2.0L engine.

And I tried that $3000 thing on them because I had read that too. And they don't really reply directly other then to say that there may be up to $500 flex cash available at the dealers discretion. My impression is that to qualify for the $3000 bonus on 2013 sales is proving very difficult for them.

angelod

Hi Car_Man and everyone.
I'm in the market for a 2014 CRV EX-L w Nav. Looking at 36 months 12k miles per year. I just got a quote for $359 per month. Any idea what i should or could be paying for this?
Also, what is the residual, money factor, and cap costs are on this lease model?

Any information would be much appreciated!!

angelod

By the way, this would be for NY. Thanks!

gillb

Finally bought my CRV-LX two days ago. I felt I got a pretty good deal for the state of Florida which has significantly higher doc fees and registration costs then most other places....of course we don't have state income tax here, so you take it with a grain of salt.
At first I found it difficult both comparing the CRV cost with other vehicles I was looking at and second understanding all the piece parts of the lease. I finally came up with a solution which makes for a no brainer negotiating experience and gets you the vehicle OTD with no hidden last minute price changes or additional fees.
My sole criteria was....what is the total 3 year cost of the lease. And negotiate that number. It drives them nuts, it eliminates the whole: how much do you want to put down or how much of a monthly payment are you looking for charade. My response is, I don't care about either number, I only care about the total 3 year cost. As soon as the dealer agrees to that number there's nothing else they can do to you. And that number, Cap Cost. Money Factor, Residuals, all that other stuff aside is simply monthly payment x number of months and anything you decide to put down. This is also a good basis for comparing vehicles. I found that the CRV-LX total 3 year lease cost came to $11,150 in my case. This includes some accessories I wanted like mud flaps, cargo mat and cover and a few other things.The Mazda CX-5 Touring came in at $13,400. A Kia Soul+ came in at $10,990. A Mazda 3 Sport came in $12,200. So easy to compare multiple vehicles and much easier to negotiate price between vehicle dealers.
Of course you still have to monitor the basics, in my case, getting the $500 Flex Cash from Honda. Mazda had a similar $500 inducement for previous Honda owners but because Chase does their financing and their residuals are so low (53% or so verses about 60% for the CRV and 62% for the Soul+) their prices tend not to be competitive based on my criteria. By the way you might note that the Honda MF worked out to 1.99% interest verses Kia's MF which worked out to almost 4.4% interest. The other area you have to watch out for are these ridiculous dealer add on packages which general have $400 or less in content and a $2000 price. You just laugh at them in a friendly way and ask if if anyone is actually stupid enough to pay for that and the cost disappears immediately. And by the way....the whole nitrogen thing is not only a farce but an inconvenience and additional cost down the road. When you are actually sitting down with the Finance person check the numbers again. Make sure their total 3 year cost matches the agreed upon amount. In my case, they didn't. And the Finance guys response was, "well they must be right the computer calculated them". And they were wrong and they had to adjust the price of the car another $104 to meet the agreed upon 3 year total cost number.
Finally, last suggestion AND MOST IMPORTANT, complete 95% of this online, at home and don't even try to think in the dealership. I went through 3 Honda dealers before I found one that had a salesperson who understood what it meant to be an Internet Sales Representative and deal with people who want to make informed decisions. I still don't understand why it took 2 hours and 45 minutes including the test drive to complete the deal and drive away but better then the 6 hours it took me last time. The salesperson said it was the fastest they've ever delivered a vehicle.
I hope some of this helps and appreciate all the help I received along the way.

brian125

Good job on your post enjoy your new Honda. I like the color..

jezmia

hi, I am in the market for either a rogue or a CRV, the one thing I like about a rogue is their lumbar support seats. does anyone know if I can get a CRV LX with leather and lumbar support for a lease? I know that hey came in the EX-L package, but that is just too expensive, I don't need a nav system or anything else included in the package. Also what are your thoughts between a Rogue 2014 and a CRV 2014. thanks!

ck90211

Without sounding like a Honda snob, Nissan quality really doesn't come close to other Japanese companies. I recently returned a 2012 Nissan Altima and many plastic parts were already rattling and coming lose. CVT hunts around confused and sounding coarse. Lease return inspector told me Nissan really is a step down from Honda and Toyota's, but on par with Hyundai's (and still above Ford) after 2-3 years. I am not talking about power train, I am talking about interior, electronics, seats, body panels, etc...

Before that Nissan I leased a Honda Pilot. At lease end the Honda dealer gladly took my car back, because they could quickly flip and make some money (and it was still tight and rattle free). No disposition fee. With Nissan, I had hard time finding a dealer to take it. And when I called Nissan Finance (a month after I returned it) they told me they still can't send me the $395 disposition bill because they still have not been able to auction off that car yet.

I could lease or buy another Nissan to save me the disposition or acquisition fee, and I have been offered some amazing prices on Altima, Rogue and Maximas. But I am so low on Nissan quality that I have hard time saving $100 a month on lease, because a rattling interior and coarse CVT just isn't worth it.

dslunceford

Going in to pick up my CRV LX AWD lease tomorrow. Had 9 dealers provide quotes via email, and the best deal I got was $9,775 total over the three years ($1,585 down + $234/month over 35 months), with oil changes thrown in. from what I can tell, this seems a pretty decent deal. Had three dealers agree to it; went with the closest one to my home.

brian125

ck9,

Nissan has slipped some behind honda and toyota no doubt. What happen to there pathfinder it fell off the map.

gillb

Hi dslunceford....sounds like a very good deal. I think it would be really helpful if people noted what state they are in. When I was negotiating my deal in Florida and kept throwing Edmunds posts out to the dealership asking why I can't get a deal like so and so.....the answer always got back to the fees, taxes, registration etc that were specific to a state. And really, only deals that are in your own state are a good gauge to use in the negotiation process. I'm in Florida do you mind if I ask what state you are in.

dslunceford

I am in Virginia. Just picking up now...actual price was $1585 down + $232.61/month for 35 months. Includes oil changes and rotations up to 36,000 miles. Total cost over lease is $9,726.35.

Ended up with the white diamond pearl.

jezmia

Hi dslunceford,
I am also in the market for a CRV LX do you still have the spreadsheet? I would like to see it if possible. thanks

gillb is right, buying and leasing costs are higher in FL,the southern you go the more expensive, it is a bit harder to negotiate with dealers.

@dslunceford said:
I'm a bit dense I just realized that when I leased my Civic LX 32 months ago that I emailed dealers and asked them to beat the national lease offer they had at that time (0 down, 35 payments of $200). I ended up with 0 down, 35 payments of $163 and 6 free oil changes.

Have that email template and spreadsheet still in Google Docs, so will use that as basis to see how/who can beat the national lease deal.

dslunceford

@jezmia said:
Hi dslunceford,
I am also in the market for a CRV LX do you still have the spreadsheet? I would like to see it if possible. thanks>

Jezmia, were you able to access the spreadsheet? I had direct messaged you...

Kirstie_H

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jimzigg

I live in WI and looking for feb lease residuals and mfs for 2014 two crv models: Awd ex and awd exl with rear ent. 15k miles and 36 mos term.

kyfdx

@jimzigg said:
I live in WI and looking for feb lease residuals and mfs for 2014 two crv models: Awd ex and awd exl with rear ent. 15k miles and 36 mos term.

.00083 MF and 61% residual on EX, 59% on EX-L with or without RES.

rb1000

@angelod said:
Hi Car_Man and everyone.
I'm in the market for a 2014 CRV EX-L w Nav. Looking at 36 months 12k miles per year. I just got a quote for $359 per month. Any idea what i should or could be paying for this?
Also, what is the residual, money factor, and cap costs are on this lease model?

Any information would be much appreciated!!

Hi everyone,

Looking for current quotes for EX-L w/ or w/o Nav. 36 months/15K miles. Think I can score $360/mon 0 down for w/o Nav. I'm in NY, thanks.

natas2000

Does this sound good 0 down except 1st month and tag 650. 245 including tax 35 months CRV EX $25335

mayo4096

Hello, I'm in Texas and was wonder what number I should expect from a 36 month lease for a CR-V EX-L AWD w/Nav? Plus, there is mention of an excel spreadsheet for calculating leases, can someone point me to it? Thanks in advance for your help.

Michaell

@mayo4096 said:
Hello, I'm in Texas and was wonder what number I should expect from a 36 month lease for a CR-V EX-L AWD w/Nav? Plus, there is mention of an excel spreadsheet for calculating leases, can someone point me to it? Thanks in advance for your help.

Residual value is 58% for 15K miles with a money factor of .00056

TheMagicTiki

Hey, all!

We're shopping a lease on a CR-V in PA. Looking at a 2014 EX-L with AWD (no Nav). Quoted a sale price of 27575 before taxes/tags. Lease deal comes in at $289.06 per month, 12 k miles per year, after $2000 down (includes $552 down tax and tags, and the remainder as an additional down payment on the lease). Does this sound like a good deal?

Thanks for the help!

welak

I am looking for the April numbers (Residual and MSRP) for an EX-L with AWD 12,000 miles and 36 months. thx

kyfdx

@welak said:
I am looking for the April numbers (Residual and MSRP) for an EX-L with AWD 12,000 miles and 36 months. thx

.00056 MF and 61% residual.

ellysbelly

Hi! What are the April numbers for an EX-L (2WD) with 12K miles and 36 months in FL? Thanks!

kyfdx

@ellysbelly said:
Hi! What are the April numbers for an EX-L (2WD) with 12K miles and 36 months in FL? Thanks!

.00056 MF and 60% residual. $500 lease cash.

joannewpeck

I live in Georgia and was quoted $299-310 for lease of Honda CRV EX-L w/ no nav. for 3 years and 15,000 miles.....4000 down late March.. Got another quote from another dealer last week for $295. per month.

What are April figures in Ga. for Honda for residual and MF? Are lease figures coming down further into model year?
Thank you.

Michaell

@joannewpeck said:
I live in Georgia and was quoted $299-310 for lease of Honda CRV EX-L w/ no nav. for 3 years and 15,000 miles.....4000 down late March.. Got another quote from another dealer last week for $295. per month.

What are April figures in Ga. for Honda for residual and MF? Are lease figures coming down further into model year?
Thank you.

A couple of comments .. putting $4000 down to reduce the cap cost is not a good idea. If the vehicle is stolen or totaled, you are out that money.

And, trying to predict what manufacturers will do with their lease programs is like trying to predict next year's World Series winner. Residuals generally go down, but MF are reduced as well to maintain similar payments.

That said, I'll assume you want a 2WD since you are in Georgia. 58% residual and MF of .00056 for April.

prozario01

bit new to leasing .. can someone explain if this is good deal or not. I was asking a purchase price - which they said would be $2,5800 + $830 dest + $400 doc fee. The interent sales guy (seems very good - i bought another pilot few years back - gave me the price over phone without much drama - took 5 mins to get the quote).

He followed up with email - and at bottom had leasing details as well. Can some one explain - if i'm missing anything or not. It seems bit too good to be true.

For my it is total cost i pay over 3 years. If i work out the down payment and divide by 36 months comes out to be about $70 per month, and add $185/month lease - so basically $255/month. Which is way lower than other places i saw. What am i missing here -this details was here as fine print.

3 Special $185 for 36 months with $2,495 down payment offer valid on new and unregistered 2014 CR-V AWD 5dr EX-L (RM4H7EJW) to well-qualified lessees approved by American Honda Finance Corp.. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $28,945 (excludes Honda destination and handling fee, excludes tax, federal/state fees, license, title, registration, emissions, documentation/processing fee, $7.50 tire fee, options not listed, dealer installed equipment not listed, dealer installation fees (if applicable), dealer fees, insurance and the like.) Actual net capitalized cost $23,476. Net capitalized cost excludes $595 acquisition fee, and may include all applicable offers and rebates of up to $500 for qualified lessees. Total monthly payments $6,660. Option to purchase at lease end $17,656. Must take new retail delivery on vehicle from dealer stock by end of program date. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year. Please contact us for complete details. Offer valid through April 28th, 2014.

kyfdx

You are looking at it correctly... Take your downpayment and divide it by the lease term, then add it the monthly payment.. Just watch out for add-ons (doc fee, etc.) Of course, you'll have tax, plus title/license fees from the state, but that looks like a solid deal.

If you decide to go ahead with it, ask them to roll the $2495 into the lease.. Tell them you only want to pay 1st payment and title/license fees at inception.

prozario01

@kyfdx@Edmunds said:
You are looking at it correctly... Take your downpayment and divide it by the lease term, then add it the monthly payment.. Just watch out for add-ons (doc fee, etc.) Of course, you'll have tax, plus title/license fees from the state, but that looks like a solid deal.

If you decide to go ahead with it, ask them to roll the $2495 into the lease.. > Tell them you only want to pay 1st payment and title/license fees at inception.

Thanks ... would u happen to know if i want to add extra say a remote starter, how it works on lease? One dealer told me it would add about $15-$20 per month .. which in 3 years lease, would recoup the whole value of the add on. Is that normal?

kyfdx

Yes... if you lease, it's good to stay away from accessories that aren't residualized. If it's a $600 item, then you pay for the whole thing, then give it away with the car, when the lease is up.

lairdwd

Just did a deal with Commonwealth Honda in Lawrence Mass. Got an automated internet quote of 23302 on an EX CR-V AWD, dealer invoice = 25520. Final price after negotiation of 23152. This includes all incentives and is before any taxes, fees. Their doc fee is $293.

Honda Gallery in Reading was quoting me 23899 - 750 flex - 500 dealer cash for a quote of 22699. Somebody up the food chain came along and put the kabosh on that quote though. I do not recommend these guys. They had guys stepping all over each other in the sales process and their General Sales Manager was rude to me on the phone.

Honda Cars of Boston in Everett was quoting 23799 - 750 cash, but they have a 369 doc fee and a "wheel lock" fee of 89 (waivable).

Boch Honda was quoting me 23177 , all incentives included with 369 doc fee.

Commonwealth Honda was one of the few dealers willing to play ball with the negotiated price carrying over to a 3/36 lease without trying to play games. Everyone else, as soon as I mentioned the 'L' word, it was like carte blanche to offer quotes that were completely detached from the negotiated price of the vehicle, even though I demonstrated very clearly I understand lease financing and had my own spreadsheet to do calculations. In fact, I got the silent treatment from a few of them when I suggested such a thing. I guess they are used to fat markups on leases. Ended up paying 229 OTD with 35 more payments of 229 each. Mass state sales tax is 6.25%

tusharvk

honda cr-v 2014 awd. EDmunds quote is 25k. Dealer is giving 24 months 0 down 356 incl tax or 36 months 0 down 295/month. includes t axes in both cases and is for 15k/year lease.
How do I evaluate if the lease is worth or can it be better than these terms?

Michaell

@tusharvk said:
honda cr-v 2014 awd. EDmunds quote is 25k. Dealer is giving 24 months 0 down 356 incl tax or 36 months 0 down 295/month. includes t axes in both cases and is for 15k/year lease.
How do I evaluate if the lease is worth or can it be better than these terms?

What is the trim level? MSRP?

tusharvk

MSRP is 25k also. cr-v lx awd and automatic.

@Michaell@Edmunds said:

tusharvk

more info on the quote came from the seller. 1.1% apr highest credit rating.

Michaell

@tusharvk said:
MSRP is 25k also. cr-v lx awd and automatic.

You should be able to negotiate a selling price much closer to invoice, if not lower, to reduce your lease payment.

Michaell

@tusharvk said:
more info on the quote came from the seller. 1.1% apr highest credit rating.

The dealer told you this? Is this for a purchase or a lease? Lease interest rates are usually expressed as decimal values such as .00055.

tusharvk

edmunds shows true market value 24154; dealer msrp is 25k; so it should be possible to lower it.
MF is 0.00046 for tier 1 and 2 approvals.
how do I assess if it is the right price or not.
all inclusive 23 payments of $356

@Michaell@Edmunds said:

Michaell

@tusharvk said:
edmunds shows true market value 24154; dealer msrp is 25k; so it should be possible to lower it.
MF is 0.00046 for tier 1 and 2 approvals.
how do I assess if it is the right price or not.
all inclusive 23 payments of $356

Check the CR-V prices paid thread - lots of helpful folks there who can give you good advice on how to negotiate the best price.