2016 Honda CR-V Lease Questions

Michaell

jujudew2 said:

Is the destination charge a normal fee to add to an invoice/selling price when negotiating a lease? Also, what is the residual value and money factor for a CRV FWD '16 15k/36 month lease? Your help is much appreciated. Thanks in advance!

jujudew2 said:

EX

62% and .00165

kyfdx

jujudew2 said:

EX

Heads up.. money factor on the CR-V just dropped to .00125. Good news!

cclancy2

Just left dealer think they pulled a fast one. Sticker $28195 adding a remote start they say is $644 OEM. I'm trading a 2013 CRV lease that has 5 payments of $290 left. They want $1300 down, fees $97.50, sales tax $0 paid in lease. 12k yr, $379, 36M. MF .00165 payoff at end $18,044 which I believe is 64% residual. Please help me make sense of this. I feel I am getting taken advantage of. Salesman tried to tell me CRV was "heavily" discounted for me! 64% of $28,195 is $18,044 which means I am paying sticker, correct? Any help/advice would be greatly appreciated. I am ready to call dealer in morning and cancel deal. Thank you for help.

cclancy2

I am in NYS tax is 8 1/4%

cclancy2

I'm sorry lease is 39M and total down is $1677 with fees.

cclancy2

I forgot $1677 includes first month payment of $379.

cennis1

cclancy2 said:

Just left dealer think they pulled a fast one. Sticker $28195 adding a remote start they say is $644 OEM. I'm trading a 2013 CRV lease that has 5 payments of $290 left. They want $1300 down, fees $97.50, sales tax $0 paid in lease. 12k yr, $379, 36M. MF .00165 payoff at end $18,044 which I believe is 64% residual. Please help me make sense of this. I feel I am getting taken advantage of. Salesman tried to tell me CRV was "heavily" discounted for me! 64% of $28,195 is $18,044 which means I am paying sticker, correct? Any help/advice would be greatly appreciated. I am ready to call dealer in morning and cancel deal. Thank you for help.

Residual is always based on MSRP including destination. I'll let the mods opine of the rest of the deal, but just that fact wouldn't indicate that the capitalized cost you are paying is sticker/MSRP.

Michaell

cclancy2 said:

Just left dealer think they pulled a fast one. Sticker $28195 adding a remote start they say is $644 OEM. I'm trading a 2013 CRV lease that has 5 payments of $290 left. They want $1300 down, fees $97.50, sales tax $0 paid in lease. 12k yr, $379, 36M. MF .00165 payoff at end $18,044 which I believe is 64% residual. Please help me make sense of this. I feel I am getting taken advantage of. Salesman tried to tell me CRV was "heavily" discounted for me! 64% of $28,195 is $18,044 which means I am paying sticker, correct? Any help/advice would be greatly appreciated. I am ready to call dealer in morning and cancel deal. Thank you for help.

The MF on the CR-V just dropped to .00125 - let your dealer know you won't sign a lease deal with an inflated MF.

Use this forum to see what kind of discounts are possible:

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

And, why are you trying to get out of your existing lease early? The $1450 in payments have to be accounted for, and it's possible they are showing up in the quote from the dealer for your new lease.

thebigdaddye

is this a good deal? 2016 Honda cr-v SE awd 36/12 lease $282 a month with $378 due at signing? I'm in ohio if that helps. thanks

Michaell

thebigdaddye said:

is this a good deal? 2016 Honda cr-v SE awd 36/12 lease $282 a month with $378 due at signing? I'm in ohio if that helps. thanks

Not enough information .. what is the MSRP and net cap cost?

36/12 on the SE AWD is .0125 and 64%

thebigdaddye

msrp is $26595 dont no the net cap cost.

alex4lee1

Hello,

I'm in NC, sales tax 3%. Recently leased a '16 CR-V EX on 12/36 term. MSRP: $26,745, including dest/hand. It came with a $1,930 package (nitrogen tires, tint, wheel locks, etc) making it $28,675.

The agreed-upon was $26,567 and Adj Cap Cost is $25,643. I paid $2,299 down which included 1st month's payment and am paying $299/mo. I was wondering if I ended up with a good deal since this is my first time leasing.

Thank you.

alex4lee1

@Michaell , also there was a $500 incentive for recent grads attached to that...and a $699 dealership documentation processing service fee.

Think that should cover all the numbers. The residual is $17,117.
I feel I could have gotten a better deal? Does credit score affect the rate? I have great credit.

Thanks again.

Michaell

alex4lee1 said:

Hello,

I'm in NC, sales tax 3%. Recently leased a '16 CR-V EX on 12/36 term. MSRP: $26,745, including dest/hand. It came with a $1,930 package (nitrogen tires, tint, wheel locks, etc) making it $28,675.

The agreed-upon was $26,567 and Adj Cap Cost is $25,643. I paid $2,299 down which included 1st month's payment and am paying $299/mo. I was wondering if I ended up with a good deal since this is my first time leasing.

Thank you.

alex4lee1 said:

@Michaell , also there was a $500 incentive for recent grads attached to that...and a $699 dealership documentation processing service fee.

Think that should cover all the numbers. The residual is $17,117.
I feel I could have gotten a better deal? Does credit score affect the rate? I have great credit.

Thanks again.

Not sure if that $1930 package is subject to the residual. The residual is usually applied to the bottom line number of the factory window sticker.

The $699 dealer fee is a bit outrageous, but pretty common in NC.

How much of the $2299 out of pocket was considered "cap cost reduction" or down payment?

I would say it could have been better, but enjoy the pleasure of driving your new CR-V for the next three years.

alex4lee1

@Michaell Thanks for the reply... I was thinking I could have gotten $280/month...
But the cap cost reduction is $2,218.

Michaell

alex4lee1 said:

@Michaell Thanks for the reply... I was thinking I could have gotten $280/month...
But the cap cost reduction is $2,218.

Think of it as a learning experience .. make you better prepared for when you do this again in 3 years. We'll still be here!

cdtotten17

Can someone please provide the current residual and money factor on the CRV EX FWD in KY? Thanks!

Michaell

cdtotten17 said:

Can someone please provide the current residual and money factor on the CRV EX FWD in KY? Thanks!

What lease term and how many miles per year?

cdtotten17

36 and 12k. I have attached the sheet my dealer provided me with the proposed deal including my trade in (a 2014 Honda Accord Touring w/24k miles).

Michaell

cdtotten17 said:

36 and 12k. I have attached the sheet my dealer provided me with the proposed deal including my trade in (a 2014 Honda Accord Touring w/24k miles).

That seems like a pretty high payment for a CR-V. Can you tell me what the number is for the "Adjusted Selling Price"?

The MF of .00115 is correct, assuming this is a $0 drive off "sign and drive" lease.

And, what trade value are you getting for your Accord, and what is owed on it? It's possible the negative equity is hurting your payment, as well.

kyfdx

$4475 of negative equity...

Michaell

kyfdx said:

$4475 of negative equity...

I thought as much ... that alone is adding $124/mo to the payment.

cdtotten17

I know it's hard to see in the pages, but you guys are a little off here. They are claiming the trade in is only worth $19,000 but they are allowing a trade in allowance of the payoff amount if you check out the lines closely (Trade in allowance: $23,475, payoff amount: $23,475). They are calling it a wash.

Something else in the deal is throwing this thing out of whack... you'll see on the right side they say they are losing money on the deal (4k in price markup, but more loss on the trade in they adjusted up).

For the numbers, some may not be able to see, they are:

Original MSRP: $26,895
Maximum Advance: $35,558.50 (what is this?)
Residual Value: 62% - $16,674.90
Mileage Adjustment: +2% - $537.90
Annual Miles - 12000
Adjusted Residual Value - $17,212,80

Rate - .001150

Dealer Cost: 25,309
Selling Price: 28,890
Price Adjustment: 695.60
Adjusted Selling Price: 29585.60
Acquisition Fee: 595
Total Cap Cost: 30180.60

Payment - $414.72 + 6% tax = $439.60 for 36 months

Hopefully this clarifies.

Michaell

cdtotten17 said:

I know it's hard to see in the pages, but you guys are a little off here. They are claiming the trade in is only worth $19,000 but they are allowing a trade in allowance of the payoff amount if you check out the lines closely (Trade in allowance: $23,475, payoff amount: $23,475). They are calling it a wash.

Something else in the deal is throwing this thing out of whack... you'll see on the right side they say they are losing money on the deal (4k in price markup, but more loss on the trade in they adjusted up).

For the numbers, some may not be able to see, they are:

Original MSRP: $26,895
Maximum Advance: $35,558.50 (what is this?)
Residual Value: 62% - $16,674.90
Mileage Adjustment: +2% - $537.90
Annual Miles - 12000
Adjusted Residual Value - $17,212,80

Rate - .001150

Dealer Cost: 25,309
Selling Price: 28,890
Price Adjustment: 695.60
Adjusted Selling Price: 29585.60
Acquisition Fee: 595
Total Cap Cost: 30180.60

Payment - $414.72 + 6% tax = $439.60 for 36 months

Hopefully this clarifies.

Yeah, that negative equity is showing up in the total cap cost, if that number is $3000 higher than the MSRP.

Heck, even the selling price is higher than the cap cost.

Check this thread to see what others are paying ... should be able to get pretty close to invoice;

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

cdtotten17

Talked to my sales guy. It appears that the GM is just trying to markup the sales price on the car to cover the "loss" on the trade in (keeping in mind the edmunds trade in value of the car is $22k, so the loss is really only a negligible $1k).

But putting all that aside for now, now that I know what happened, are the actual terms correct... residuals, money factor, etc.?

The previous link seems to indicate a good selling price for a 2016 FWD EX would be roughly $26,500.

Thanks!

Michaell

cdtotten17 said:

Talked to my sales guy. It appears that the GM is just trying to markup the sales price on the car to cover the "loss" on the trade in (keeping in mind the edmunds trade in value of the car is $22k, so the loss is really only a negligible $1k). But putting all that aside for now, now that I know what happened, are the actual terms correct... residuals, money factor, etc.? The previous link seems to indicate a good selling price for a 2016 FWD EX would be roughly $26,500. Thanks!

Yes  I agree with the residual and money factors listed on your sheet 

misjif32

Hello,  I'm looking for the mf and residuals on the CRV Touring for 36/12 and 36/15 in CA. Thanks. 

kyfdx

cdtotten17 said:

Talked to my sales guy. It appears that the GM is just trying to markup the sales price on the car to cover the "loss" on the trade in (keeping in mind the edmunds trade in value of the car is $22k, so the loss is really only a negligible $1k).

But putting all that aside for now, now that I know what happened, are the actual terms correct... residuals, money factor, etc.?

The previous link seems to indicate a good selling price for a 2016 FWD EX would be roughly $26,500.

Thanks!

You have it exactly... It isn't a wash. They are showing break-even on the trade, but adding that amount to the sale price. There is no free lunch.

Forget what Edmunds says.. take your current car to a CARMAX to get a competitive quote. You are eating $4400 to get out of your current car. I wouldn't do it.

kyfdx

misjif32 said:

Hello,  I'm looking for the mf and residuals on the CRV Touring for 36/12 and 36/15 in CA. Thanks. 

.00125 MF and 60%/58% residual for either 36 or 39 months.

anonymbuyer

Hi, I just signed the lease contract at February 13th, in Massachusetts. The model is 2016 EX-AWD. They offer me the 3 year lease contract, which is $2999 cash down payment, $225/month for 39 months, 12K miles/each year. But since I'm not sure whether I can stay here in United. States for 3 years more, I asked for a 2 year lease contract. And the final deal will be listed as below:

Vehicle sales price: $26200
Acquisition fee: $595
Residual value(2 year/ 12miles per year): $19617
Down payment(cash): $2999(included title, registration, doc fee, acquisition fee, first month payment fee($277.7) etc.)
Monthly payment: $277.7 for the rest of 23 months
Disposition fee: $350 if I do not buy the vehicle at lease end

The total lease fee: $2999+$6387+$350= $9736 (2 year)
For the 3 year lease fee I think it would have been: $2999+$8550+$350=$11899(3 year)

Is it a good deal or I has been fooled?
Need professional people to help me.


I missed something, monthly payment is including tax.

Michaell

anonymbuyer said:

Hi, I just signed the lease contract at February 13th, in Massachusetts. The model is 2016 EX-AWD. They offer me the 3 year lease contract, which is $2999 cash down payment, $225/month for 39 months, 12K miles/each year. But since I'm not sure whether I can stay here in United. States for 3 years more, I asked for a 2 year lease contract. And the final deal will be listed as below:

Vehicle sales price: $26200
Acquisition fee: $595
Residual value(2 year/ 12miles per year): $19617
Down payment(cash): $2999(included title, registration, doc fee, acquisition fee, first month payment fee($277.7) etc.)
Monthly payment: $277.7 for the rest of 23 months
Disposition fee: $350 if I do not buy the vehicle at lease end

The total lease fee: $2999+$6387+$350= $9736 (2 year)
For the 3 year lease fee I think it would have been: $2999+$8550+$350=$11899(3 year)

Is it a good deal or I has been fooled?
Need professional people to help me.


I missed something, monthly payment is including tax.

$278/mo with tax is a good payment. Congrats and enjoy your new Honda!

soupguy

MF and RV for a CRV EXL AWD in NJ please.


Thanks

Michaell

soupguy said:

MF and RV for a CRV EXL AWD in NJ please.


Thanks

What lease term and how many miles per year?

soupguy

Michaell said:

soupguy said:

MF and RV for a CRV EXL AWD in NJ please.


Thanks

What lease term and how many miles per year?

Sorry bout that.

36/12
39/10
39/12

This local place has the CRV SE AWD for 189 a month. I cant for the life of me get that number in any calculations I have done. Am I missing something? This is the link to their specials page. The CRV is a few from the top. What am I missing?

http://www.hamiltonhonda.net/newspecials.aspx

Michaell

soupguy said:

Michaell said:

soupguy said:

MF and RV for a CRV EXL AWD in NJ please.


Thanks

What lease term and how many miles per year?

Sorry bout that.

36/12
39/10
39/12

This local place has the CRV SE AWD for 189 a month. I cant for the life of me get that number in any calculations I have done. Am I missing something? This is the link to their specials page. The CRV is a few from the top. What am I missing?

http://www.hamiltonhonda.net/newspecials.aspx

.00125 and 63% for both 36/12 and 39/12. Add 1% for 10K.

The $189/mo special is for the SE trim, which has a residual 1% higher than the EX-L. And, requires $998 down - which would represent $25-26/mo more on the payment.

You should be able to negotiate a better selling price on your own, which will result in a lower lease payment.

automan822

CRV-EX FWD 36/15, 39/15 MF, and Residual in So. Calif.

Michaell

automan822 said:

CRV-EX FWD 36/15, 39/15 MF, and Residual in So. Calif.

62% and .00125 for both terms.

seizedday

San Diego, CA ... today we got 2016 Honda CRV EXL 2WD for $383 for 39 month/14,929 total; 12k mileage allowance.

Is this an okay deal? And, is it true that on a lease it is generally not worth the money to pay for mileage higher than 12K if one plans to trade in the car for a new lease?

Details are as follows...
*Options 1 and 2 purchased:
*1. Hitch harness and ball system, cross bar, cargo tray, chrome finisher, moon roof visor, tent. All options* with labor cost included in gross cap cost so warranty isn't void by after purchased non dealer install.

*2. $395 Honda Care service contract for oil changes, road side assistance, flat repair or replacement, gas, towing, + (cost is included in gross cap cost)

MF = .0009
0 down payment out of pocket though numbers on paper confuse a bit because we ...
Turned in a lease of 2014 CRV EXL 2WD for which I was paying $367 per month.
TRADE IN
$20,728 Gross Trade in allowance

FED CONSUMER LEASING ACT DISCLOSURES
$383 for 39 month/14,929 total
$350 turn in fee
$796.95 itemization of amount due at lease signing, though there was nothing out of pocket really
$ 15,693 Total payments

MONTHLY PAYMENT DETERMINED AS FOLLOWS...
$30,588 Gross cap cost on 2016 model; adjusted cap cost is the same.
$18,487 Residual value
$12,100 depreciation of amortized amounts
$1722.44 rent charge
$13,823 total of base payments
39 lease payments

ITEMIZATION OF GROSS CAP COST
$29,598 Agreed upon value of vehicle as equipped at the time of sign-in with options above. Dealer sale price = $27,427 without options*
$595 acquisition fee
*$395 Honda care service contract for oil changes, road side assistance, flat repair or replacement, gas, towing, +
$30,588.07 gross cap cost

The plan is to trade in the car for new lease before it exceed mileage allowance which will be at approx 30 months.

Note: The deal took a long time to do. Through verbal negotiations we discussed 36 month lease not 39 month lease, but we were so tired at the end and distracted by our son that we did not notice that paper work identifies a 39 month lease (also, the cargo tray was omitted as an option though we discussed and know that sales person recalls that). Something that I need to address with the dealer tomorrow.

Michaell

seizedday said:

San Diego, CA ... today we got 2016 Honda CRV EXL 2WD for $383 for 39 month/14,929 total; 12k mileage allowance.

Is this an okay deal? And, is it true that on a lease it is generally not worth the money to pay for mileage higher than 12K if one plans to trade in the car for a new lease?

Details are as follows...
*Options 1 and 2 purchased:
*1. Hitch harness and ball system, cross bar, cargo tray, chrome finisher, moon roof visor, tent. All options* with labor cost included in gross cap cost so warranty isn't void by after purchased non dealer install.

*2. $395 Honda Care service contract for oil changes, road side assistance, flat repair or replacement, gas, towing, + (cost is included in gross cap cost)

MF = .0009
0 down payment out of pocket though numbers on paper confuse a bit because we ...
Turned in a lease of 2014 CRV EXL 2WD for which I was paying $367 per month.
TRADE IN
$20,728 Gross Trade in allowance

FED CONSUMER LEASING ACT DISCLOSURES
$383 for 39 month/14,929 total
$350 turn in fee
$796.95 itemization of amount due at lease signing, though there was nothing out of pocket really
$ 15,693 Total payments

MONTHLY PAYMENT DETERMINED AS FOLLOWS...
$30,588 Gross cap cost on 2016 model; adjusted cap cost is the same.
$18,487 Residual value
$12,100 depreciation of amortized amounts
$1722.44 rent charge
$13,823 total of base payments
39 lease payments

ITEMIZATION OF GROSS CAP COST
$29,598 Agreed upon value of vehicle as equipped at the time of sign-in with options above. Dealer sale price = $27,427 without options*
$595 acquisition fee
*$395 Honda care service contract for oil changes, road side assistance, flat repair or replacement, gas, towing, +
$30,588.07 gross cap cost

The plan is to trade in the car for new lease before it exceed mileage allowance which will be at approx 30 months.

Note: The deal took a long time to do. Through verbal negotiations we discussed 36 month lease not 39 month lease, but we were so tired at the end and distracted by our son that we did not notice that paper work identifies a 39 month lease (also, the cargo tray was omitted as an option though we discussed and know that sales person recalls that). Something that I need to address with the dealer tomorrow.

The 39 month residual is the same as the 36 month residual, so that would result in a slightly smaller lease payment.

I don't see the MSRP in all the information you've posted. The 39/12 residual is 63%.

I'm not 100% certain, but the extra options you chose are not residualized, meaning you pay for 100% of that cost in the 39 month lease term.

jamesmac49

Hello,
Can you give me the numbers for:
2016 CRV EX-L with some extra options
Both will be 36m/12k mi in SC (29909 specifically).

Michaell

jamesmac49 said:

Hello, Can you give me the numbers for: 2016 CRV EX-L with some extra options Both will be 36m/12k mi in SC (29909 specifically).

63% and .00125. 

jamesmac49

Thank you Michael.

gsfent

Hi. Can you advise on this deal?

2016 CRV, EX AWD. 36/36000. NJ. "selling price" I is 26390, "capped taxes" are $739.81 for total Cap Cost of 27129.81 ( (cash down tax of 46.90 and upfront tax of $692.91 @ 7%). NJ DMV is $75 "doc fee" plus $400 "registration". Residual is 17762.85 ( showing 63%). MF is .0008.

Drive off is $1366.10 which is 1st month $296.10, plus acquisition fee of $595 plus NJ DMV ($475). Dispo fee not stated, but believe it is $350.

Seems like a good deal, I get almost the same monthly without financing the $739.81 of sales tax.

Opinion?

kyfdx

gsfent said:

Hi. Can you advise on this deal?

2016 CRV, EX AWD. 36/36000. NJ. "selling price" I is 26390, "capped taxes" are $739.81 for total Cap Cost of 27129.81 ( (cash down tax of 46.90 and upfront tax of $692.91 @ 7%). NJ DMV is $75 "doc fee" plus $400 "registration". Residual is 17762.85 ( showing 63%). MF is .0008.

Drive off is $1366.10 which is 1st month $296.10, plus acquisition fee of $595 plus NJ DMV ($475). Dispo fee not stated, but believe it is $350.

Seems like a good deal, I get almost the same monthly without financing the $739.81 of sales tax.

Opinion?

I get $296.10, as well.

If you are happy with $1800 off MSRP, then the calculations look good, with nothing extra thrown in.

Michaell

kyfdx said:

gsfent said:

Hi. Can you advise on this deal?

2016 CRV, EX AWD. 36/36000. NJ. "selling price" I is 26390, "capped taxes" are $739.81 for total Cap Cost of 27129.81 ( (cash down tax of 46.90 and upfront tax of $692.91 @ 7%). NJ DMV is $75 "doc fee" plus $400 "registration". Residual is 17762.85 ( showing 63%). MF is .0008.

Drive off is $1366.10 which is 1st month $296.10, plus acquisition fee of $595 plus NJ DMV ($475). Dispo fee not stated, but believe it is $350.

Seems like a good deal, I get almost the same monthly without financing the $739.81 of sales tax.

Opinion?

I get $296.10, as well.

If you are happy with $1800 off MSRP, then the calculations look good, with nothing extra thrown in.

Check the "CR-V Prices Paid" forum - the experts there can tell you what you should be getting in terms of a discount from sticker.

gsfent

Thank you! Price discount seems to be about $1650, so 1800 seems fair. Is there much more on the table?

Michaell

gsfent said:

Thank you! Price discount seems to be about $1650, so 1800 seems fair. Is there much more on the table?

We don't track selling prices, so can't answer that.

jenzgar

Can you give me money factor and residual for 2016 FWD Honda CRV-EX & EX-L in FL?

Michaell

jenzgar said:

Can you give me money factor and residual for 2016 FWD Honda CRV-EX & EX-L in FL?

.00080 and 61% (EX) or 60% (EX-L) - 36 months, 15,000 miles per year.

jenzgar

you said 00080 and 61% (EX) or 60% (EX-L) - 36 months, 15,000 miles per year. Is 15,000 miles per year standard? is that what should be asking when I go to lease. I always thought 12,000 miles per year was the norm. This may be a stupid question so forgive me if it is but does the money factor and residual change with the length of the lease and the # of miles per year? Thank you!