2013 and earlier-Honda CR-V Lease Questions

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  • shtirletsshtirlets Member Posts: 11
    Hi can someone please post November money factors and residual values for CRV.
    Thanks.
  • wallementwallement Member Posts: 17
    I can give you the numbers for a 2010 EXL. MF is .0017. RV is 58%. I think for other models the MF is probably the same, but the RV may go up or down a percentage point.

    Nice improvement in MF over October. Slight drop (1%) in RV. Overall, an improvement.
  • gator00sigator00si Member Posts: 61
    Carman,

    I need NOV numbers too please for a '10 CRV EX-L FWD. I'm assuming the 36mo lease term is Honda's best rate but wanted to confirm. Thanks
  • gator00sigator00si Member Posts: 61
    Forgot to mention looking for 15k mi/yr. Thanks again.
  • tkay2tkay2 Member Posts: 51
    Have a CRV 07 4WD with a set of Michelin Latitude with @5K miles.. The new CRV I am getting in a couple of days has the Continental contact 4X4 tires. Thinking of having them put the Michelin on the new vehicle.. can tell you the latitudes improved the road noise and the ride on the 07 from the OE tires tremendously.. They were pricey (but they are the best) Any suggestions..
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gator00si. Here's the info that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 CR-V EX-L FWD with 15,000 miles per year are .00170 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • johnny__rfjohnny__rf Member Posts: 83
    With the new November rates any idea what % lower lease payments should be as compared to October's rates?
  • wallementwallement Member Posts: 17
    Of course the answer depends on what model. price paid, term etc. But I can tell you that my monthly went down $38 on an EX-L, and thats with a 1% lower RV (59 to 58) in November. Basically made the lease a much more viable option in my opinion.
  • bearsdadbearsdad Member Posts: 1
    Just last night I leased a CR-V. I have been reading many of the comments on this site. You guys convinced me it was a good SUV. I have a 2010 EX for 278 a month, at 36/36 with 3821 down. The down payment includes tax, title, all doc fees, first month payment, etc... Does that sound like I got a good deal?
  • wnukwnuk Member Posts: 40
    I was quoted a money factor of .00270 on an EX-L by a dealer in PA today. Are they mistaken? Reading back posts here, it looks like that was the October rate. Isn't November supposed to be .0017? The residual was quoted at 58%, in line with what others are seeing.

    Didn't like this dealer at all. They only dropped to $27999 off MSRP of $28455. They offered $7500 for my trade, and I still owe $8000 so they showed -$500 equity (Edmunds values my trade at $8300). For a 36 month lease with 36000 miles he gave me a figure of $542 per month with 0 down! I quickly left and will be checking with other dealers on Monday.
  • wallementwallement Member Posts: 17
    Yes, they are either wrong or trying to stick it to you with an add-on lease rate. I am not even sure Honda Finance allows the add-on, so maybe they are just wrong...but that also seems very unlikely. I'd find a new dealer. Their price is too high also. You can do lots better.
  • lablover2lablover2 Member Posts: 115
    got an internet quote of $257 per month for 36 months,12,000 miles per year with a total down payment of just under $3500 which includes taxes,license fees and doc fees and $999 down-this is in the suburbs of chicago, can i do better?
  • mfman67mfman67 Member Posts: 10
    The new MF is also in affect for the EX-L w navi?

    We just took delivery on the 2nd, a day where I could close out on the old rate or the new rate. I paid the .00270. I am a little pissed as that could be $50 a month on just the rate alone. Any decent dealer would give a heads up, they are all crooks.

    It is safe to assume if that is the case there is nothing I can do about it either.
  • mfman67mfman67 Member Posts: 10
    Ex-L w Navi and AWD to be more specific, there might be a difference between the 2WD and 4WD.
  • wnukwnuk Member Posts: 40
    I believe the money factor stays the same, just the residual would change between the different models. I had one dealer quote me a higher money factor than 2 others did. The first one was just trying to rip me off I believe. The factor right now is .0017.

    The best price I can get so far for an EX-L without nav is $26,700. Still thinking there is more to be had. Would like to see around $26,000. Any suggestions?
  • mfman67mfman67 Member Posts: 10
    Confusing cause if the .0017 is on the AWD as well then that makes the FWD EX-L lease more expensive than the AWD EX-L and I would think it would be the other way around. For 12k, the AWD is still at 58% and the FWD is at 57%, if I am not mistaken.
  • wallementwallement Member Posts: 17
    Keep in mind the FWD lease would only be more expensive (monthly payment wise) if you started with the exact same lease price for the AWD and the FWD, which of course will never happen. You'll pay more for the AWD even with the higher residual.
  • mfman67mfman67 Member Posts: 10
    Good call, I was not very clear. The parameters of the lease are more attractive or better, not more expensive or cheaper, bad choice of words.
  • aaluaalu Member Posts: 2
    I got a quote with the following numbers for lx model.
    324 ( with taxes ) per month For 36 months , 725( due at signing. all charges included and first month lease amt )
    12000km

    RV14300
  • latenthart2latenthart2 Member Posts: 3
    I am having a hard time making these numbers make sense...is the dealer bsing me?
    payment is 372

    15k per year mileage, 36 months
    2010 crv lx 4wd sticker 23505
    negotiated price 22175 including destination fee
    595 acq fee

    dealer assures me money factor is .0017

    I live in suffolk county, ny tax is 8.625 percent

    700 down, but for whatever reason they are cutting me a check for my first payment back ( they said it is their "we pay first payment promotion?"

    I suspect it may be the "we include in price and give back to you later program"

    when I asked about residual percentage they said it is set number that every dealer follows and so is money factor. Does that mean they can not adjust this for profit?

    Does that mean my only variable is cost?

    One last thing I qualify for super preferred tier
  • latenthart2latenthart2 Member Posts: 3
    i forgot a few things..

    I am rolling in 3 pymts of 334 for accord lease ending early. Dealer is also now saying residual is 59%
  • wnukwnuk Member Posts: 40
    latenthart-

    The money factor and resdual is set by Honda. Some dealers try to adjust the money factor since that puts more money back in their pockets. I don't know if Honda allows this. I do know that the .00170 money factor is correct for the month of November. I had 1 Honda dealer (out of 3) try to tell me it was .00270 so I know he was trying to jack his profit.

    I can calculate your payment exactly if you can tell me 3 things:

    1. Does your state charge the tax on the purchase price or on the monthly payment? Here in PA, they charge it on monthly payment. Your state may be different.

    2. Are you rolling the cost of your last 3 payments on your old lease into the new one or is Honda letting you out early?

    3. Are you sure they aren't charging you the 1st months payment in the deal? It seems odd they make you "pay" it then give it back to you.

    I ran the numbers based on sales tax being calculated on monthly payment, figuring you still owed $1002 on your old lease, and assuming he charged you for the first month payment. Doing this I came up with a payment of $359 a month. If he quoted you $379, then he has an extra $720 in there for something he hasn't told you about.
  • khestkhest Member Posts: 5
    PLEASE HELP!!!!! Should I take this deal or hold out for a better one?

    2010 Honda CRV-EX 2WD. MSRP $24,555. Getting lease quote of $240 per month + local tax (1.85% on monthly payment). 36 or 30 months; 12,000 miles per year; $3000 down which includes 1st months payment & all fees. Nothing else out of pocket. Money factor 0.0017. Residual after 36 months - $14,733. 30 months - $15,960.

    Should I go 30 or 36 months?

    Haven't signed anything but have it in writing.
  • wnukwnuk Member Posts: 40
    It is best to put as little money down on a lease as possible. Look at it this way; Say you just handed the dealer your $3000 for the lease on your new CRV. Now driving off his lot, you get hit by a vehicle and your brand new CRV is totaled. Sure your insurance will cover the loss of the CRV, but what about the $3000 you just gave the dealer? It's money lost and there is nothing you can do to get it back. If you already have $3000 to give the dealer, save your money and take a higher monthly payment. Use the $3000 to offset the higher monthly payment so if something happend and your vehicle was totaled early on, you won't lose that big down payment.

    I know, it sounds attractive to have such a low payment. But it would be best not to invest so much up front money. Hope that helps you some.
  • khestkhest Member Posts: 5
    MSRP $24,555
    Dealer Cost $23,564
    Selling Price $22,330

    Quote states inception fees of $1127.29 & assignment fee of $595. What are these fees for & is this an acceptable amount? How can they sell for less than dealer cost?
  • wnukwnuk Member Posts: 40
    Honda charges a $595 inception fee on each lease. It is standard and not negotiable though you could roll it into the payment. Aside form the sale price, most leases include an inception fee, 1st month payment, and a fee for doing the tags on the vehicle. Generally this adds up to about $1100 on a vhicle stickered under $30000.

    The "assignment fee" you stated above appears to be a dealer fee for doing the paperwork on the lease. I would NOT pay it as it is pure profit for the dealer, nothing more. Keep in mind that the dealer does get a part of that $595 inception fee Honda charges. It's like a "finders fee" for getting the financing to Honda.

    If the numbers you listed in your last post are with the $3000 down, then $1722 of it is going to fees ($1127 + $595) and $1278 ($3000 - $1722) is going to cap cost reduction. That's why he is showing selling it to you at below invoice. It you take the selling price of $22330 he quoted and add the $1278 cap cost reduction then he is really selling it to you for $23608. Again, this is assuming your quote is with the $3000 down.

    Hope this helps explain it better.
  • 69fbird69fbird Member Posts: 2
    A local Honda dealer had a lease Ad for a 2010 CRV LX 4WD for $289, no security deposit or down payment. Just 1st month and tax, title and license. Thought it was pretty good deal. Emailed the dealer for EX-L price instead, they came back at $375. So we went to pick it up, when I noticed something goofy when we were signing the papers. We got the lease price at $367, but noticed the cost they wanted us to pay seemed higher than it should be, $2240. If it was just the 1st months payment of $367 and the TTL, it should have been less. I told them it should have been less, by almost $500. The guy had to get the manager to explain it to us, he said something about a $10,000 sales tax *%$#@*@&^.
    Didn't understand it.

    I'm guessing it was this inception fee they add on.
    Can someone who understands lease's crunch the numbers for me.
    Sales tax in my county are 7%, MSRP was $28,400. In Illinois we have to pay taxes upfront on leases. If you need any other numbers let me know. Thanks up front
  • dcooper6dcooper6 Member Posts: 8
    Hey carman,

    I got a deal this weekend - 2010 EX for $350/month. First month's payment out of pocket only. Gave back my previous lease with 6,000 extra miles on it at$0.15 per mile. Also got the remote start as part of the deal. Thoughts?

    Thanks
  • gator00sigator00si Member Posts: 61
    69fbird

    Your total fees based on what you said should have been around $800 - $900 out of pocket. You paid more than double what you should have unfortunately that is why its crucial you do the homework before you sign anything. I would have literally walked on that deal. It definately sounds bogus given they're poor explaination. At least you know for next time.
  • 69fbird69fbird Member Posts: 2
    gator,

    Do I pay taxes on the residual value or cap cost? In Illinois.
    I was thinking more like $500 over, but Im sure there is something
    else added on somewhere else.

    For the payment of $367, Is this even a good price??

    Thanks for the help
  • kyfdxkyfdx Moderator Posts: 267,144
    In Illinois, you pay tax on the gross CAP cost...

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • firefighter008firefighter008 Member Posts: 1
    Hi, here is the low down: msrp $25,805 Sale Price $23,780 36month lease 12k miles. $0 due at signing trade in Jeep Liberty, pay off $22,800 dealer allowing $19,200 (could be more, has no seen it in person) this is all over the phone & e-mail Payment $446.00 this is slightly less than my current payment of $484.00 and the CRv gets better gas mileage which is why i wanted it.
  • islesdaveislesdave Member Posts: 1
    I'm going to be a first time car lease customer in a month or so. I'm interested in a CR-V with the XM radio built in. I know I need to get the EX model, I prefer the 4WD option as well. Would anyone be able to possibly give me a ball-park estimate as to what the payment would be?
  • blueiedgodblueiedgod Member Posts: 2,798
    Hi, here is the low down: msrp $25,805 Sale Price $23,780 36month lease 12k miles. $0 due at signing trade in Jeep Liberty, pay off $22,800 dealer allowing $19,200 (could be more, has no seen it in person) this is all over the phone & e-mail Payment $446.00 this is slightly less than my current payment of $484.00 and the CRv gets better gas mileage which is why i wanted it.

    If the only reason to get our of the Jeep and lose $3000 is the gas mileage, it will take a lot of driving to make it up with a $40/month difference. And if you are going to be driving that much, you will end up paying for it with extra miles at $0.15/mile. Every 1000 miles is going to cost you $150 at turn in time.
  • blueiedgodblueiedgod Member Posts: 2,798
    I'm going to be a first time car lease customer in a month or so. I'm interested in a CR-V with the XM radio built in. I know I need to get the EX model, I prefer the 4WD option as well. Would anyone be able to possibly give me a ball-park estimate as to what the payment would be?

    I think you need to research more before jumping into leasing.

    With a proper down payment you can be leasing for a $1 a month. But, as many will suggest, you don't want to put any money down. Then it will come down to your credit worthiness.
  • dcooper6dcooper6 Member Posts: 8
    forgot to mention-12,000 miles, 36 months, selling price of $24,136.
  • cptightcptight Member Posts: 3
    I have an 07 CR-V LX with a lease that's expiring soon. Want to roll over into a new lease. Here's what I'm being offered for a 2010 CR-V LX 4WD:

    based on
    3 years/36K miles
    $22,400 sale price
    $15,100 pay off

    $260/month including 6.25% sales tax (Mass.)
    + $295 doc prep
    +$110 plate transfer from current vehicle
    0 deposit
    + 1st month payment

    They will take back my old car and skip last payment ($355). Current vehicle is in excellent shape with mileage 3,000 below the maximum.

    I have pre-approved financing from Honda for up to $30K for lease or purchase.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings cptight. Let's take a look at the deal that you were offered. The dealer is proposing selling you a 2010 Honda CR-V LX 4WD for $22,400. According to Edmunds.com, this truck's dealer invoice price is $21,925, so the price that you were quoted is only $475 over invoice. That is a very good deal.

    Just make sure that the dealer uses Honda Finance's current buy rate lease money factor of .00170 (top tier) to calculate your payment and you're in business.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • bonesazbonesaz Member Posts: 6
    Hi Car Man,

    What are the lease numbers for the CRV for a 36month, 12k year, as far as the residual and money factor. I'm in AZ if that matters at all.

    Thanks
  • iameuroiameuro Member Posts: 9
    Hello cptight, Is there anyway you can give me the dealers information. This sounds like a good deal and I am in the same boat you are. I have a CR-V which has an ending lease. I want to jump on the same deal you are getting on, but I am from NY and would need a local broker to match the deal.
  • cptightcptight Member Posts: 3
    Thanks, Car Man. Unfortunately, when I went back to the dealer to get that price, he "didn't remember" talking about that amount, said he had "a lot of customers" he'd been dealing with in the 6 days since I had been there and came back with $322/month. So I told him what he could do with that...

    Been to another dealer with a price closer to (but not at that figure) but they had only 1 CRV in a color I wasn't interested in. I tried to negotiate down a bit because of this concession, but they said no go. Still on the hunt.

    Am at $269+tax per month, no $ down except 1st, plates/reg. and doc fee. ($635 total). What's your thought on this? I have pre-approved Honda financing and an 07 CRV LX 4WD with 3K miles under the limit, and I know there's a very strong market for used CRVs in great condition (which mine is). Been told there's some equity in my current car. Any idea how much?
  • alykat5911alykat5911 Member Posts: 2
    Can somebody tell me if i got a good deal on my new lease? I got a little off my mark when they came back with the residual...

    2010 Honda CRV-EX FWD, $3945 down. $225/month for 30 mos, with 12k miles

    Residual cost $17031,
    MRSP sticker was $25008

    they said they selling price that i was getting was about $24700, and looks like i will be paying about $27K if i choose to buy out my lease.. does this make sense or did they pull one over on me? Its a little late now, the lease came in where i wanted it, but just looking for what i am really in for at the end of this all. Can somebody pls advise? leased it from Paramus, NJ
  • lasvegasrphlasvegasrph Member Posts: 102
    Well. I am not sure why you would put THAT much $$$$ down on a LEASE. Almost $4,000 down? What happens if that CR-V gets destroyed by a drunk driver? You LOSE all that money!! The insurance company covers the vehicle, but you LOSE all that CASH.
    Great rule of thumb when LEASING........go ZERO (or minimal) down.
    Great rule of thumb when BUYING..........pay cash or use a LARGE down payment to SAVE interest on the loan.........since you will eventually OWN it.

    Just BANK the money.......use it for the payments. What happens if you need that $4,000 for a EMERGENCY?? It's gone now.

    Now, looking at the numbers of the lease.........you paid too much.
    MSRP was $25,008
    Selling price was $24,700 (should have been about $23,200)

    2nd rule of thumb.................NEVER, EVER buy out your lease at the end. You will end up paying OVER MSRP in the end. Dumb. Just RE-LEASE another vehicle OR buy the new model on the dealer lot when you turns yours in.

    Some research/homework on your part BEFORE this deal was done would have saved you about $1,500.
  • iameuroiameuro Member Posts: 9
    Ok, Just got my lease... If you need more details / sales price, feel free to let me know.

    2010 Honda CR-V EX AWD Back on Black

    $314/month (tax into payment)

    $1290 Initial Payment:
    $314 First payment
    $595 Bank Fee
    $249 Doc Fee
    $130 DMV Plate Transfer Cost

    *** For the LX AWD the deal was $300/tax into payment and the Initial payment would be $14 less.

    Dealer threw in free wheel locks ($100 value)

    Thoughts ?

    -Steve
  • cptightcptight Member Posts: 3
    Just figured I'd follow up on my previous posts (#604 and 1 prior):

    I finally found a dealer who was not trying to pick my pocket and didnt play the usual three-card monte games when I went into the dealership to finalize a deal done over email.

    Got a 3 yr lease/36K miles for 2010 CRV LX 4WD. $269/month plus Mass. tax is $286/month.

    $635 down = 1st month payment, plus $129 plates/inspection and $220 doc fees.

    Dealer also eats my last payment on the 2007 CRV that I'm turning in.

    Sales price was $21,220.

    That's it. Hate to say it, but some of you are paying way too much.
  • lablover2lablover2 Member Posts: 115
    saw an ad for a 2010 crv lx 2wd for $6 per day on a 36 month lease 12,000 miles per year.only money down is tax,title,license and doc fees. price includes 1st payment-is this too good to be true? if not, i may finally jump on one
  • k626k626 Member Posts: 4
    The dealership says they can't change (offer lower) the money factor.
    American Honda Finance says they are an "indirect" lender and that the Honda dealership sets the rate. My credit score is 800 and the general offer is 0.00170 but I've heard of people getting lower just this month through Honda (0.00133) . Is it possible Honda (the dealership) can give me the lower rate? Or is it truly impossible for them to make that deal. I'm looking to lease a 2010 CR-V EX AWD this week. Thanks.
  • lasvegasrphlasvegasrph Member Posts: 102
    The DEALERSHIP sets the rate "money factor".
    Each/every dealership will be different.
    In a LEASE or PURCHASE........the interest rate/MF can VARY. The more the dealer can charge you.......the more $$ in their pocket. (Just like when shopping HOME loans thru various banks)

    If the "base rate" is 0.00133 and you are getting 0.00170, the dealer is just marking UP the interest rate (MF) on you to make some extra $$. Try to negotiate it DOWN
  • lasvegasrphlasvegasrph Member Posts: 102
    Yes please!!!!
    Can you show the MSRP of the vehicle??
    Can you show your "negotiated price"/CAP COST??
    Residual??
    Money Factor??

    Deal sounds good, actually really good. I just need to see the missing numbers!!
  • ouracingjayouracingjay Member Posts: 15
    I'm looking at Honda's lease special on the 2WD LX. The dealers are chomping at the bit to get a deal done by the end of the year.

    From what I've gathered, it looks like the top tier MF is 0.00170 for a 36mo/12k lease.

    Can someone please confirm the residual value for this term? Also, does anyone know what the max advance for this type of lease is? Wondering if there's room to mask some slight negative equity in the lease.

    Thanks in advance.
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