2015 Honda CR-V Lease Questions

litobirdy

Ok I feel like I may be getting super ripped off but I suck at negotiating for cars.anyway. I have a kia sportage lease ending this coming March.so I have $1080 left in payments plus the$400 disposition fee. I'm interested in leasing 2015 crv ex awd because of mileage. Would prefer the touring but sounds like a lot. So I went in for drive and quote.They said $1930 down to cover fees etc etc and they cover the $1080 I have left which I'm assuming that means throw some of it into the monthly but doesn't that mean I still gotta pay kia? Lol. Anyway 360 for 36/12k I'm in northern nj. I'm paying 360 monthly for the kia so I was looking to not pay more than that

parmick

Can I get some feedback on the following offer? Would be using a trade-in worth about $2k as the down payment.

2015 Honda CR-V EX-L AWD w/Navigation - Alabaster Silver with Gray interior
MSRP: $31,749
Residual: $19,623
Money Factor: 0.00160
15K Miles
36 months
Payment per month with $2,000 down: $352.67
Payment per month with $4,000 down: $289.80

kyfdx

parmick said:

Can I get some feedback on the following offer? Would be using a trade-in worth about $2k as the down payment.

2015 Honda CR-V EX-L AWD w/Navigation - Alabaster Silver with Gray interior
MSRP: $31,749
Residual: $19,623
Money Factor: 0.00160
15K Miles
36 months
Payment per month with $2,000 down: $352.67
Payment per month with $4,000 down: $289.80

Does that price include tax? If so, what is your state and tax rate..

Is $2000 the full amount due at signing? Or is that a CAP reduction, with other charges upfront, as well?

parmick

The price includes tax, tags and title. I am assuming that is the full amount. Dealer said all I needed was a check for that amount and I could drive away.

kyfdx

parmick said:

The price includes tax, tags and title. I am assuming that is the full amount. Dealer said all I needed was a check for that amount and I could drive away.

So.. what state and tax rate?

parmick

North Carolina....3%

kyfdx

Pretty sure that NC taxes the full selling price, so we'll assume the $2000 is 1st payment, acquisition fee, tax ($900?), title, license and doc fees..

So to hit your payment, the selling price would have to be about $29,000. That seems like a pretty good deal on a CR-V.. $2750 off MSRP

But, the residual they quoted you doesn't agree with the model and lease term.

The residual for a 2015 CR-V AWD EX-L with NAV is 60% of MSRP. That's around $19,050, not $19,623. Make sure they are quoting for the correct vehicle and the correct term/mileage.

spf3730

HI, Can you tell me the January lease factors and residuals for the 2015 Honda CR-V EX-L AWD w/Navigation and the CR-V Touring for New Jersey? 36 months and 15k miles Thank you.

Michaell

spf3730 said:

HI, Can you tell me the January lease factors and residuals for the 2015 Honda CR-V EX-L AWD w/Navigation and the CR-V Touring for New Jersey? 36 months and 15k miles Thank you.

.00160 and 60% (EX-L w/ Nav) or 59% (Touring).

Note that these residuals are also valid for 39 month lease terms; that might bring your payment down a bit.

carsearching2

What is the money factor and residual for a 12k/39 month (if Honda is still doing the promotion) lease in Florida for an Ex-L no nav? And are the numbers very different for a 15?

kyfdx

carsearching2 said:

What is the money factor and residual for a 12k/39 month (if Honda is still doing the promotion) lease in Florida for an Ex-L no nav? And are the numbers very different for a 15?

.00160 MF and 64% residual for 39mo, 12K/yr

"And are the numbers very different for a 15?"

Do you mean 15K/yr miles? If so, subtract 2% from the residual.

nds4

What is the MF and residual in DC, MD, and VA for:

2015 AWD Touring 36 mo/15k and 36 mo/12k
2015 EX-L with Nav for 36 mo/15k and 36 mo/12k

Thanks very much in advance!

kyfdx

nds4 said:

What is the MF and residual in DC, MD, and VA for:

2015 AWD Touring 36 mo/15k and 36 mo/12k
2015 EX-L with Nav for 36 mo/15k and 36 mo/12k

Thanks very much in advance!

.00160 MF

Touring: 59%/61% residual
EX-L NAV: 60%/62% residual.

Same numbers for 39 month lease, as well.

potchamon

Hi question about leasing from a different state. Are there additional cost besides the state tax and Doc fees or do i just pay my state doc fees?  MICH / ohio

Thank you. 

Michaell

potchamon said:

Hi question about leasing from a different state. Are there additional cost besides the state tax and Doc fees or do i just pay my state doc fees?  MICH / ohio

Thank you. 

Not exactly sure how the cross-state charges work .. I suspect you will pay the fees from where you lease the car, but get a tax credit when you register it. Ohio taxes the entire sum of lease payments at the beginning of the lease, where I believe Michigan taxes each payment monthly. If you work with a dealer close to the state border, they may execute deals like this frequently; they might be the best source of information for you.

potchamon

Ok thanks.. i appreciate all your advice
Few other questions
1. is a lease considered the  same as a sale to the  dealer?

2. On the dealer website do 
  those sale prices incl dest?

Lots of Hidden numbers thats why im asking

Thanks again

Michaell

potchamon said:

Ok thanks.. i appreciate all your advice
Few other questions
1. is a lease considered the  same as a sale to the  dealer?

2. On the dealer website do 
  those sale prices incl dest?

Lots of Hidden numbers thats why im asking

Thanks again

1. Yes, the dealer is simply selling the car to the bank that finances the lease.

2. The sales price should include destination ... if the dealer doesn't, I'm not sure I would want to do business with that dealer.

potchamon

Thank u

RobertW

Hi,

Can you tell me what the residual and money factor is for NJ on a 2015 CRV LX AWD with a 10k/36 month lease? How is the interest in NJ calculated?

kyfdx

wiesengi said:

Hi,

Can you tell me what the residual and money factor is for NJ on a 2015 CRV LX AWD with a 10k/36 month lease? How is the interest in NJ calculated?

.00160 MF and 65% residual for 36 or 39 mo, 12K/yr

brpanthers99

Anyone get a quote or lease a 2015 CRV EX AWD?  Looking for 0 down and all taxes and fees included.

brpanthers99

For an AWD EX would 325-330 per month, nothing down, all taxes and fees included be a good price, or would that still be high??

Michaell

brpanthers99 said:

Anyone get a quote or lease a 2015 CRV EX AWD?  Looking for 0 down and all taxes and fees included.

brpanthers99 said:

For an AWD EX would 325-330 per month, nothing down, all taxes and fees included be a good price, or would that still be high??

Hard to say without knowing the MSRP and selling price. Also, your tax obligation varies based on where you live - what state is this?

.00160 and 63% for either 36 or 39 months and 15,000 miles per year.

brpanthers99

Michaell said:

Anyone get a quote or lease a 2015 CRV EX AWD?  Looking for 0 down and all taxes and fees included.

For an AWD EX would 325-330 per month, nothing down, all taxes and fees included be a good price, or would that still be high??

Hard to say without knowing the MSRP and selling price. Also, your tax obligation varies based on where you live - what state is this? .00160 and 63% for either 36 or 39 months and 15,000 miles per year.

NJ, 36 months, 12k miles.

just trying to get an idea where I should be.

Michaell

brpanthers99 said:

Michaell said:

brpanthers99 said:

Anyone get a quote or lease a 2015 CRV EX AWD?  Looking for 0 down and all taxes and fees included.

brpanthers99 said:

For an AWD EX would 325-330 per month, nothing down, all taxes and fees included be a good price, or would that still be high??

Hard to say without knowing the MSRP and selling price. Also, your tax obligation varies based on where you live - what state is this?

.00160 and 63% for either 36 or 39 months and 15,000 miles per year.

NJ, 36 months, 12k miles.

just trying to get an idea where I should be.

Without the MSRP and selling price, it's hard to say. MF is high on the CR-V at the moment, which makes leasing more expensive.

brpanthers99

Michaell said:

Michaell said:

Anyone get a quote or lease a 2015 CRV EX AWD?  Looking for 0 down and all taxes and fees included.

For an AWD EX would 325-330 per month, nothing down, all taxes and fees included be a good price, or would that still be high??

Hard to say without knowing the MSRP and selling price. Also, your tax obligation varies based on where you live - what state is this? .00160 and 63% for either 36 or 39 months and 15,000 miles per year.

NJ, 36 months, 12k miles.

just trying to get an idea where I should be.

Without the MSRP and selling price, it's hard to say. MF is high on the CR-V at the moment, which makes leasing more expensive.

Any idea with all taxes and fees in the payment what is a decent bottom line number per month?

platopod

What's the money factor and residual on a 12k/24 month EX AWD? NYC

Michaell

brpanthers99 said:

Michaell said:

brpanthers99 said:

Michaell said:

brpanthers99 said:

Anyone get a quote or lease a 2015 CRV EX AWD?  Looking for 0 down and all taxes and fees included.

brpanthers99 said:

For an AWD EX would 325-330 per month, nothing down, all taxes and fees included be a good price, or would that still be high??

Hard to say without knowing the MSRP and selling price. Also, your tax obligation varies based on where you live - what state is this?

.00160 and 63% for either 36 or 39 months and 15,000 miles per year.

NJ, 36 months, 12k miles.

just trying to get an idea where I should be.

Without the MSRP and selling price, it's hard to say. MF is high on the CR-V at the moment, which makes leasing more expensive.

Any idea with all taxes and fees in the payment what is a decent bottom line number per month?

We would need to know the MSRP and net cap cost to model a payment. Without them, anything we give you is just a guess.

Michaell

platopod said:

What's the money factor and residual on a 12k/24 month EX AWD? NYC

.00160 and 72% for 24/12.

ilyutin

I am also trying to lease a 2015 CR-V EX. So far the cheapest I got was $1k at lease signing which would cover all the fees and 1st month payment; and $293 a month. 36 month lease with 1k miles a month with honda financial. Feel like it should be less, im trying to get it down to no more than $285/month.

ilyutin

forgot to mention i am in NYC

Michaell

ilyutin said:

I am also trying to lease a 2015 CR-V EX. So far the cheapest I got was $1k at lease signing which would cover all the fees and 1st month payment; and $293 a month. 36 month lease with 1k miles a month with honda financial. Feel like it should be less, im trying to get it down to no more than $285/month.

It's not a good idea to negotiate the payment; rather, work to get the best selling price and the payment will come down as a result.

If you can provide us with the MSRP and selling price, we can help model the payment.

36/12 numbers for the EX AWD are .00160 and 65%

ilyutin

What does .00160 and 65% mean?

Michaell

ilyutin said:

What does .00160 and 65% mean?

65% is the residual value; the value of MSRP that Honda Finance thinks the vehicle will be worth at the end of the three years.

.00160 is the money factor, which is used to calculate the rent charge (similar to interest) for the lease.

Lots of articles on leasing here at Edmunds to help you get started ... http://www.edmunds.com/car-leasing/

jennygrl841

Hello,

This is is my first time leasing and I'm emailing a dealer in Los Angeles about a 2015 CRV-EX 2WD. Here is what he gave me:

MSRP $26,425
Sale price $25,434
MF .0017
Residual 65%
12k/yr
36 month lease

I see that the MF is usually .0016, so I guess this is the dealer trying to make money? Is this price ok for this car in my area?

Thanks!

kyfdx

jennygrl841 said:

Hello,

This is is my first time leasing and I'm emailing a dealer in Los Angeles about a 2015 CRV-EX 2WD. Here is what he gave me:

MSRP $26,425
Sale price $25,434
MF .0017
Residual 65%
12k/yr
36 month lease

I see that the MF is usually .0016, so I guess this is the dealer trying to make money? Is this price ok for this car in my area?

Thanks!

.0017 is an extra .0001 to waive the security deposit. If you make the security deposit, you'll get .0016

Use the Make/Model/Year tabs at the top of the page to see what Edmunds TMV is for the car in your area. Did they quote a payment and amount due at signing, as well?

jennygrl841

Hello,

I've been using a few lease calculators on the numbers I've been given (below) and it's coming out to $320 a month. Does that seem accurate or should I try to get the MSRP lower?

Thanks!

kyfdx said:

jennygrl841 said:

Hello,

This is is my first time leasing and I'm emailing a dealer in Los Angeles about a 2015 CRV-EX 2WD. Here is what he gave me:

MSRP $26,425
Sale price $25,434
MF .0017
Residual 65%
12k/yr
36 month lease

I see that the MF is usually .0016, so I guess this is the dealer trying to make money? Is this price ok for this car in my area?

Thanks!

.0017 is an extra .0001 to waive the security deposit. If you make the security deposit, you'll get .0016

Use the Make/Model/Year tabs at the top of the page to see what Edmunds TMV is for the car in your area. Did they quote a payment and amount due at signing, as well?

Michaell

jennygrl841 said:

Hello,

I've been using a few lease calculators on the numbers I've been given (below) and it's coming out to $320 a month. Does that seem accurate or should I try to get the MSRP lower?

Thanks!

kyfdx said:

jennygrl841 said:

Hello,

This is is my first time leasing and I'm emailing a dealer in Los Angeles about a 2015 CRV-EX 2WD. Here is what he gave me:

MSRP $26,425
Sale price $25,434
MF .0017
Residual 65%
12k/yr
36 month lease

I see that the MF is usually .0016, so I guess this is the dealer trying to make money? Is this price ok for this car in my area?

Thanks!

.0017 is an extra .0001 to waive the security deposit. If you make the security deposit, you'll get .0016

Use the Make/Model/Year tabs at the top of the page to see what Edmunds TMV is for the car in your area. Did they quote a payment and amount due at signing, as well?

You should try to negotiate the lowest selling price you can ... that will lower your monthly payment.

navigatn

Why is Honda's MF so high? .0016 is almost a 4% APR. The finance charge kills the monthly payments. The RAV-4, CX-5, and Forester all have MF of .000xxx or less. CX-5 is .0000xx, virtually 0 finance fee. Will Honda lower their MF anytime soon for an incentive or something?

Michaell

navigatn said:

Why is Honda's MF so high? .0016 is almost a 4% APR. The finance charge kills the monthly payments. The RAV-4, CX-5, and Forester all have MF of .000xxx or less. CX-5 is .0000xx, virtually 0 finance fee. Will Honda lower their MF anytime soon for an incentive or something?

Not as long as they can sell every one they make at a price close to sticker.

Honda apparently doesn't see a reason to incentivize the CR-V leases at the moment. Could it come down? Certainly. Nobody knows when, however.

kyfdx

navigatn said:

Why is Honda's MF so high? .0016 is almost a 4% APR. The finance charge kills the monthly payments. The RAV-4, CX-5, and Forester all have MF of .000xxx or less. CX-5 is .0000xx, virtually 0 finance fee. Will Honda lower their MF anytime soon for an incentive or something?

Money factors don't exist in a vacuum.... You have to account for the residual, as well.. What's important is the monthly payment relative to the price.... I would guess the CR-V would be comparable to most of the competition.

jennygrl841

Michaell said:

jennygrl841 said:

Hello,

I've been using a few lease calculators on the numbers I've been given (below) and it's coming out to $320 a month. Does that seem accurate or should I try to get the MSRP lower?

Thanks!

kyfdx said:

jennygrl841 said:

Hello,

This is is my first time leasing and I'm emailing a dealer in Los Angeles about a 2015 CRV-EX 2WD. Here is what he gave me:

MSRP $26,425
Sale price $25,434
MF .0017
Residual 65%
12k/yr
36 month lease

I see that the MF is usually .0016, so I guess this is the dealer trying to make money? Is this price ok for this car in my area?

Thanks!

.0017 is an extra .0001 to waive the security deposit. If you make the security deposit, you'll get .0016

Use the Make/Model/Year tabs at the top of the page to see what Edmunds TMV is for the car in your area. Did they quote a payment and amount due at signing, as well?

You should try to negotiate the lowest selling price you can ... that will lower your monthly payment.

jennygrl841

I finally got a monthly payment quote.

$746.97 in fees and $370 a month including tax. Again this is for the EX FWD with the protection plan (wheel locks, mud flaps, etc). Is this price correct?

MSRP $26,425
Sale price $25,434
MF .0017
Residual 65%
12k/yr
36 month lease

Southern California

Thanks!

Michaell

jennygrl841 said:

I finally got a monthly payment quote.

$746.97 in fees and $370 a month including tax. Again this is for the EX FWD with the protection plan (wheel locks, mud flaps, etc). Is this price correct?

MSRP $26,425
Sale price $25,434
MF .0017
Residual 65%
12k/yr
36 month lease

Southern California

Thanks!

Wow, I'm not sure how the dealer got to $370/mo with those numbers. When I plug them into my calculator, I get a pre-tax payment of $301.82. 9% tax takes that payment to about $329/mo.

Ask the dealer what the net cap cost is ... if it's different than the sale price, ask them to explain how they got from one to the other.

brpanthers99

Landed an amazing deal this weekend. 2015 CRV EX AWD, 12k miles for 36 months. Lease was from a NJ dealer.

0 down, all taxes and fees included, $299 per month.

Best advice is to get internet quotes from multiple dealers, try to negotiate payment in email before you go in, and make sure your email says 0 down and all taxes and fees included.  I got many quotes of 330-403 but you only need one dealer to give you a deal.

Michaell

brpanthers99 said:

Landed an amazing deal this weekend. 2015 CRV EX AWD, 12k miles for 36 months. Lease was from a NJ dealer.

0 down, all taxes and fees included, $299 per month.

Best advice is to get internet quotes from multiple dealers, try to negotiate payment in email before you go in, and make sure your email says 0 down and all taxes and fees included.  I got many quotes of 330-403 but you only need one dealer to give you a deal.

Congratulations - enjoy the new Honda!

ilyutin

when you say 0 down and 299/per month is that $0 due at signing? or you had to pay the usual bank fee + dmv fee, plate transfer etc.?

ilyutin

i just leased 2015 cr-v EX AWD on thursday and I had to pay $1000.00 out of pocket at signing (included 1st month payment) and my payments are $287 a month. 39 month lease though...

Michaell

ilyutin said:

i just leased 2015 cr-v EX AWD on thursday and I had to pay $1000.00 out of pocket at signing (included 1st month payment) and my payments are $287 a month. 39 month lease though...

$1000 out of pocket at lease signing is about right - first payment, acquisition fee, tags/license. You could have used the lease cash to cover those costs, but in the end it all works out the same.

Enjoy your new CR-V!

brpanthers99

ilyutin said:

when you say 0 down and 299/per month is that $0 due at signing? or you had to pay the usual bank fee + dmv fee, plate transfer etc.?

no, I got $299 with everything included which was fantastic