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Leasing Negotiation for CRV

raangraang Posts: 2
edited October 2015 in Honda
I 'm new to leasing, so maybe I'm missing something. I'm trying to negotiate a lease on a CRV EX AWD. I got the Mf .00175 and the residual amount, $17,4xx from a dealer. I have a price that we both agree on. Using those numbers, every formula I can find for calculating a lease amount gives me about the same price including tax. Every dealer quotes me a price that is about $50 a month higher than all my calculations. I understand there are fees, but $50 a month??? That's $1800 in fees for the life of the lease. Are they blowing smoke, or is this for real? They want in the neighborhood of $296 and all the available formulas tell me $244ish. WTH?

Comments

  • kyfdxkyfdx Posts: 119,942
    raang said:

    I 'm new to leasing, so maybe I'm missing something. I'm trying to negotiate a lease on a CRV EX AWD. I got the Mf .00175 and the residual amount, $17,4xx from a dealer. I have a price that we both agree on. Using those numbers, every formula I can find for calculating a lease amount gives me about the same price including tax. Every dealer quotes me a price that is about $50 a month higher than all my calculations. I understand there are fees, but $50 a month??? That's $1800 in fees for the life of the lease. Are they blowing smoke, or is this for real? They want in the neighborhood of $296 and all the available formulas tell me $244ish. WTH?

    Ask the dealer for the NET cap cost, and a reconciliation of that number with the selling price.

    We can guess all day about fees and taxes, but the dealer has the actual numbers. Insist on them giving them to you.

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

    Edmunds Moderator

  • raangraang Posts: 2
    edited October 2015
    Thanks. That was kind of what I was thinking. I can swing their price if I have to, but the sense of being gouged is just not one that I want every time I look at my new car.

    Meantime I'm running numbers by a Subaru dealer just to see if another car maker might have their leases a little less larded down with bottom line enhancers. Or maybe they will be worse, in which case I will feel batter about the Honda.
  • kyfdxkyfdx Posts: 119,942
    Good luck! Let us know how it goes.

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

    Edmunds Moderator

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