2016 Honda CR-V Lease Questions

Michaell

trishiestuff said:

Looking for CRV ex lease info. Dealer quoted price of 25,112- 252x36. 1380 tax, title and 1st. Albany, ny. Good deal? Wait for 17's to come in? Thanks

What is the MSRP?

Not sure the '17's will have better deals, or lease numbers, at this point.

trishiestuff

Msrp- 28295. Sell price 25112

Michaell

trishiestuff said:

Msrp- 28295. Sell price 25112

Looks solid.

darkhelmet82

Hello,

Why is everyone getting a different Residual Value for the CRV? How does a person find this information out, same with the MF. Thanks in advance.

-Pete

theglove8

Good deal?

36 mo, 36k miles

2016 CR-V EX
$2000 out of pocket, $243 per month.

Thank you for the feedback.

Michaell

darkhelmet82 said:

Hello,

Why is everyone getting a different Residual Value for the CRV? How does a person find this information out, same with the MF. Thanks in advance.

-Pete

Different trim levels, lease terms and miles per year determine the residual.

And, to get the information, you simply ask us.

Michaell

theglove8 said:

Good deal?

36 mo, 36k miles

2016 CR-V EX
$2000 out of pocket, $243 per month.

Thank you for the feedback.

MSRP? Adjusted cap cost?

What does the $2000 cover?

What state in tax rate?

theglove8

Thanks for the reply Michaell.

The MSPR is $27,395 on the Honda website (EX, AWD). State is NJ.
I don't know cap cost. I basically asked, "if I give you a check for $2,000 and want the car for 36 mo, 36k miles, how much will my monthly payment be?". They quoted $243 per month.

Just trying to figure out if that's good, or at worst a fair price.

Thank you again!

darkhelmet82

Thanks! Im looking at a CRV EX. I have excellent credit. I am in NY. What is the residual and the MF on this? State tax rate is 8% and I qualify for 1500 in rebates (college and loyalty) Thanks again.

Michaell

theglove8 said:

Thanks for the reply Michaell.

The MSPR is $27,395 on the Honda website (EX, AWD). State is NJ.
I don't know cap cost. I basically asked, "if I give you a check for $2,000 and want the car for 36 mo, 36k miles, how much will my monthly payment be?". They quoted $243 per month.

Just trying to figure out if that's good, or at worst a fair price.

Thank you again!

You want to negotiate the selling price, just like you would on a purchase. Without knowing that, we can't tell you if you deal is good or not.

Michaell

darkhelmet82 said:

Thanks! Im looking at a CRV EX. I have excellent credit. I am in NY. What is the residual and the MF on this? State tax rate is 8% and I qualify for 1500 in rebates (college and loyalty) Thanks again.

.00060 and 59% for 36/15

darkhelmet82

Michaell said:

darkhelmet82 said:

Thanks! Im looking at a CRV EX. I have excellent credit. I am in NY. What is the residual and the MF on this? State tax rate is 8% and I qualify for 1500 in rebates (college and loyalty) Thanks again.

.00060 and 59% for 36/15

Thanks for the reply. What if its 12,000 miles a year?

Michaell

darkhelmet82 said:

Michaell said:

darkhelmet82 said:

Thanks! Im looking at a CRV EX. I have excellent credit. I am in NY. What is the residual and the MF on this? State tax rate is 8% and I qualify for 1500 in rebates (college and loyalty) Thanks again.

.00060 and 59% for 36/15

Thanks for the reply. What if its 12,000 miles a year?

61%

happernyc

Hello, can I have the MF and residual for a 2016 CR-V EX-L w/Nav in NY 36mo,/10k.
Also, what is the current loyalty incentive?
Thanks

Michaell

happernyc said:

Hello, can I have the MF and residual for a 2016 CR-V EX-L w/Nav in NY 36mo,/10k.
Also, what is the current loyalty incentive?
Thanks

No 10K lease terms from Honda; 36/12 numbers are .00060 and 60%, assuming AWD. $750 lease cash.

SlowIvo911

Hello. I am looking at a 2016 CRV - EX. The lease deal is $250 down payment. The 36 months payment is $265. 12,000 miles a year. Does that sound like a good deal? I live in northease PA. Thanks!

kyfdx

SlowIvo911 said:

Hello. I am looking at a 2016 CRV - EX. The lease deal is $250 down payment. The 36 months payment is $265. 12,000 miles a year. Does that sound like a good deal? I live in northease PA. Thanks!

What is the MSRP and selling price?

mastermind7804

Hello. Can I have the MF and Residual for a 2016 CRV - SE AWD. I was quoted a price of 23112 (MSRP of 26845). I am looking for a 36 month 12,000 miles/year lease. I live in Cleveland Ohio. Tax is 8%. Thanks

Michaell

mastermind7804 said:

Hello. Can I have the MF and Residual for a 2016 CRV - SE AWD. I was quoted a price of 23112 (MSRP of 26845). I am looking for a 36 month 12,000 miles/year lease. I live in Cleveland Ohio. Tax is 8%. Thanks

.00060 and 61%. $750 lease cash.

TICTAC587

Hi Im looking for MF and RV for EX-L 12/36 and 15/36? Thanks in advance.

Michaell

TICTAC587 said:

Hi Im looking for MF and RV for EX-L 12/36 and 15/36? Thanks in advance.

What state? There are two different MF for the CR-V

amao

Hey Michaell / kyfdx, I am planning to lease a CR-V for 12/36 in the next 30 days or so. I am located in Richmond, VA (zip 23219). Any incentives available?

I probably would just go for the LX FWD and put down just the 1st month payment. I know the dealer fee is pretty high in VA and the state also charges sale tax on the whole selling price of the vehicle, but what is considered a good monthly price? TIA.

kyfdx

amao said:

Hey Michaell / kyfdx, I am planning to lease a CR-V for 12/36 in the next 30 days or so. I am located in Richmond, VA (zip 23219). Any incentives available?

I probably would just go for the LX FWD and put down just the 1st month payment. I know the dealer fee is pretty high in VA and the state also charges sale tax on the whole selling price of the vehicle, but what is considered a good monthly price? TIA.

.00100 MF and 61% residual. $900 lease cash

To calculate a payment, we need the MSRP and selling price.

amao

OK, these are the numbers I got for an LX 2WD in Richmond, VA:

List Price - 24,645
Selling Price - 21,061
Doc Fee - 499
Tax - 894.74
License - 42.12
Online Filling - 10
Registration - 50.75
Net Price - 22,557.61

36 Month Payment: 264/month

Does it look right? My own calculation using the MSRP 24,745 came out to be around $240/month.

Michaell

amao said:

OK, these are the numbers I got for an LX 2WD in Richmond, VA:

List Price - 24,645
Selling Price - 21,061
Doc Fee - 499
Tax - 894.74
License - 42.12
Online Filling - 10
Registration - 50.75
Net Price - 22,557.61

36 Month Payment: 264/month

Does it look right? My own calculation using the MSRP 24,745 came out to be around $240/month.

Hmmm, using the .00100 MF and 61% residual from above, with your prices, I get $231/mo.

Confirm the adjusted cap cost with the dealer.

And, how much out of pocket is the dealer asking for from you?

amao

What are the MF and Residual #s for SE 2WD? Are they the same as the ones for LX model? One dealer is out of LX and there is no more coming in so they are offering SE. TIA.

kyfdx

amao said:

What are the MF and Residual #s for SE 2WD? Are they the same as the ones for LX model? One dealer is out of LX and there is no more coming in so they are offering SE. TIA.

Yes.. SE has the same program as the LX

mastermind7804

Here are the numbers I received from a local Dealer on a 2016 CRV -EX AWD 36/12 lease. Does this seem fair?

MSRP - 28295
Selling Price - 25750
Doc Fee - 250
Acquisition - 595
Destination - 900
License & Registration - 33
Dealer installed accessories - 199
Trade-in Value - 6500
tax is 8%

MF = .0006
Residual = 61%

They quoted me 127.50 / month

The numbers seem to workout, but if I could get a second opinion that would be helpful. Thanks so much!

Michaell

mastermind7804 said:

Here are the numbers I received from a local Dealer on a 2016 CRV -EX AWD 36/12 lease. Does this seem fair?

MSRP - 28295
Selling Price - 25750
Doc Fee - 250
Acquisition - 595
Destination - 900
License & Registration - 33
Dealer installed accessories - 199
Trade-in Value - 6500
tax is 8%

MF = .0006
Residual = 61%

They quoted me 127.50 / month

The numbers seem to workout, but if I could get a second opinion that would be helpful. Thanks so much!

We don't recommend using trade equity as cap reduction; that money would be lost if the car is stolen or totaled. Use it instead to pay the up front fees; that will give you a payment of $262/mo before tax. Have the dealer cut you a check for the balance of the trade.

mastermind7804

Thanks for the advice!

a100ydstare

Asking for a friend, looking for the residual and money factor 3yr 12,000 and 15,000 in Massachusetts on a 2016 CR-V EX MSRP 28,296 negotiated price 24,111 (before tax, title and doc fee) The dealer (Honda Cars of Boston) sent him this;

The residual on the 12K is 61.
The residual on the 15K is 59.

The money factor is the same for both, .306

Does that make ANY sense?? Thank you!

Michaell

a100ydstare said:

Asking for a friend, looking for the residual and money factor 3yr 12,000 and 15,000 in Massachusetts on a 2016 CR-V EX MSRP 28,296 negotiated price 24,111 (before tax, title and doc fee) The dealer (Honda Cars of Boston) sent him this;

The residual on the 12K is 61.
The residual on the 15K is 59.

The money factor is the same for both, .306

Does that make ANY sense?? Thank you!

The dealer cannot modify the residual numbers; they are set by the bank.

However, the MF is .00060 for top tier credit - is that the case with your friend?

amao

Updates. On a SE 2WD, 12/36, 1st month payment due at signing. a dealer in Richmond, VA area offers the following:

MSRP: $25,545
Selling price: $21,296
TTL: 972.34
Processing Fee $489
Monthly Payment: $256.60

How does this look?

Also, I am not able to reproduce the monthly payment # without adding in an acquisition fee of $595 (which I saw in one other dealer's quote). Does Honda charge this fee? I got quotes from several dealers but only one shows the acquisition fee charge.

Michaell

amao said:

Updates. On a SE 2WD, 12/36, 1st month payment due at signing. a dealer in Richmond, VA area offers the following:

MSRP: $25,545
Selling price: $21,296
TTL: 972.34
Processing Fee $489
Monthly Payment: $256.60

How does this look?

Also, I am not able to reproduce the monthly payment # without adding in an acquisition fee of $595 (which I saw in one other dealer's quote). Does Honda charge this fee? I got quotes from several dealers but only one shows the acquisition fee charge.

The acquisition fee is imposed by the bank, and cannot be waived.

Some dealers like to hide the fee, but it's always there.

amao

Thanks,Michael. How do you think of the price?

Michaell said:

amao said:

Updates. On a SE 2WD, 12/36, 1st month payment due at signing. a dealer in Richmond, VA area offers the following:

MSRP: $25,545
Selling price: $21,296
TTL: 972.34
Processing Fee $489
Monthly Payment: $256.60

How does this look?

Also, I am not able to reproduce the monthly payment # without adding in an acquisition fee of $595 (which I saw in one other dealer's quote). Does Honda charge this fee? I got quotes from several dealers but only one shows the acquisition fee charge.

The acquisition fee is imposed by the bank, and cannot be waived.

Some dealers like to hide the fee, but it's always there.

Michaell

amao said:

Thanks,Michael. How do you think of the price?

Michaell said:

amao said:

Updates. On a SE 2WD, 12/36, 1st month payment due at signing. a dealer in Richmond, VA area offers the following:

MSRP: $25,545
Selling price: $21,296
TTL: 972.34
Processing Fee $489
Monthly Payment: $256.60

How does this look?

Also, I am not able to reproduce the monthly payment # without adding in an acquisition fee of $595 (which I saw in one other dealer's quote). Does Honda charge this fee? I got quotes from several dealers but only one shows the acquisition fee charge.

The acquisition fee is imposed by the bank, and cannot be waived.

Some dealers like to hide the fee, but it's always there.

We don't track prices; there is a very active CR-V Prices Paid forum where you can check with the experts:

http://forums.edmunds.com/discussion/38165/honda/cr-v/2016-honda-cr-v-prices-paid-and-buying-experiences#latest

kakarotto231

Hi Michael, 

I found this offer at a nearby Honda and wanted to know if this was a good deal. 

Chicago, IL

36/12. $188 per month for a 2016 CR-V LX AWD. $0 first month's payment, security deposit, and cap cost reduction. MSRP $25,945 and residual of $15,826. Does this sound like a good deal and do you need more info? 

Thanks! 

Michaell

kakarotto231 said:

Hi Michael, 

I found this offer at a nearby Honda and wanted to know if this was a good deal. 

Chicago, IL

36/12. $188 per month for a 2016 CR-V LX AWD. $0 first month's payment, security deposit, and cap cost reduction. MSRP $25,945 and residual of $15,826. Does this sound like a good deal and do you need more info? 

Thanks! 

On the surface, it looks good.

What is the adjusted cap cost?

And, absolutely $0 out of pocket?

kakarotto231

Title, license, doc fees, and taxes are additional. And I'm not sure what the adjusted cap cost is. It just says $0 cap cost reduction on the flyer. I'm going in this afternoon to discuss in person. 

Michaell

kakarotto231 said:

Title, license, doc fees, and taxes are additional. And I'm not sure what the adjusted cap cost is. It just says $0 cap cost reduction on the flyer. I'm going in this afternoon to discuss in person. 

Ah, OK.

$0 cap reduction is not the same as $0 out of pocket.

What state is this?

kakarotto231

It's Illinois (Chicago specifically so the sales tax is higher 10.25%). 

Michaell

kakarotto231 said:

It's Illinois (Chicago specifically so the sales tax is higher 10.25%). 

Oh, ouch.

Double taxed .... the state taxes the sum of the payments, and collects that amount up front (or you can add it to the lease amount), then Chicago taxes the monthly payment.

Effectively, you're paying about 17-18% tax between the two.

kakarotto231

Yeah Chicago definitely screws us! So we closed on a lease. $265 a month (which includes all taxes and fees and the monthly tax as well) for the 2016 AWD CR-V SE. No money down. How did we do? 

Thanks for your help! 

speedchase

Can someone guide on how to interpret this deal. The additional charges include $375 in Title, inspection & License and the Tax rate is approx 6.5% in Texas.

Assuming a sale price of $22100 for TX (source - tellmebestprice), the sale price will be around $23,900.

kyfdx

speedchase said:

Can someone guide on how to interpret this deal. The additional charges include $375 in Title, inspection & License and the Tax rate is approx 6.5% in Texas.

Assuming a sale price of $22100 for TX (source - tellmebestprice), the sale price will be around $23,900.

If we had the MSRP, we could back our way into the sale price. Otherwise, we are just guessing. Also, that deal includes a $700 maintenance package.

speedchase

If we had the MSRP, we could back our way into the sale price. Otherwise, we are just guessing. Also, that deal includes a $700 maintenance package.

I just assumed that the experts here will have the MSRP for the 2016 CR-V LX FWD for the Dallas market. Actually, I just noticed the best sale price I picked up from tellmestbestprice is for LX AWD not FWD.

Honda site shows $24,745 including $900 destination fee for the LX FWD.

speedchase

kakarotto231 said:

Yeah Chicago definitely screws us! So we closed on a lease. $265 a month (which includes all taxes and fees and the monthly tax as well) for the 2016 AWD CR-V SE. No money down. How did we do? 

Thanks for your help! 

There seem to some very competitive dealerships in Chicago area based on my research last year for a 16 Ody. They were close to North VA area dealerships and I was lucky to get a similar deal over the Thanksgiving from a Dallas dealership.

speedchase

kakarotto231 said:

Yeah Chicago definitely screws us! So we closed on a lease. $265 a month (which includes all taxes and fees and the monthly tax as well) for the 2016 AWD CR-V SE. No money down. How did we do? 

Thanks for your help! 

Same here in TX but a consolation is that the tax rate is 6.5% compared to a higher tax in IL

speedchase

BTW, I am looking for the MF and residual for a 2016 CR-V LX or SE. 36 month / 12K miles in Texas. Is MF & Residual different for EX ? Also, please share the incentives for all 3 models if they vary.

Thanks in advance.

Michaell

speedchase said:

BTW, I am looking for the MF and residual for a 2016 CR-V LX or SE. 36 month / 12K miles in Texas. Is MF & Residual different for EX ? Also, please share the incentives for all 3 models if they vary.

Thanks in advance.

.00100 and 61% for all three trims. $900 lease cash.