2013 and earlier-Honda CR-V Lease Questions

mokiavelli · June 2006

I am in the San Diego Area. The MSRP is $23,100. I have been offered a price of $20,200. I am looking for a 3 year lease. Assuming excellent credit, what type of money factor and residual value should I be expecting? What type of payment amount am I looking at? Thank you for any help.

juliefromjerzy · June 2006

Hi can you post the numbers for 2006 CRV EX 4wd, and the Special addition.
I am looking for 36 months 15,000 miles a year no money down. I am in New Jersey. Thanks

CarMan@Edmunds · July 2006

You're welcome, brianb. OK, according to my calculations, if you were to lease a 2006 Honda CR-V LX 2WD with an MSRP of $20,300 and a selling price of $17,800 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $205. Wow, that's a really low payment for this truck. I wonder if the price that you were quoted for it took the $750 dealer cash that is currently available on the '06 CR-V into account. This dealer cash is not compatible with Honda Finance's special lease program, so if the price that you were quoted was using the dealer cash the payment that I came up with is unrealistically low.

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CarMan@Edmunds · July 2006

Greetings mokiavelli. If you were to lease a 2006 Honda CR-V EX 2WD through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00144 and 59%, respectively assuming that you pay a security deposit and qualify for Honda Finance's "Super Preferred" credit tier (have a credit score of 710 or higher). Using the prices that you mentioned in your post, an MSRP of $23,100 and a selling price of $20,200, I estimate that your truck's zero down, pre-tax monthly payment should be around $232.

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CarMan@Edmunds · July 2006

Here you go, juliefromjerzy. According to the latest information that I have seen, if you lease a 2006 Honda CR-V EX 4WD through Honda Finance on or before July 5th for 36 months with 15,000 miles peer year, its buy rate lease money factor and residual value should be .00144 and 59%, respectively.

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hipmommee4 · July 2006

Greetings, I am "new" to leasing and having been following the posts to learn a thing or two. I always thought that down payment was required for leasing and I have seen a number of posts discouraging this, or trying to limit the amount down. Can someone clarify for the newbie? Isn't first/last payment and security deposit required? Or can all those things be added in, making it $0 down? My husband and I have excellent credit and a few months left on our current lease (through his employer) and are looking at the CRV EX for a 36 month, 15k mileage lease. Thanks!

mac06 · July 2006

I am interested in a 2006 cr-v sale price of 18000. The msrp is 21,495. How will my trade payoff affect my lease payment? Thanks, terry

CarMan@Edmunds · July 2006

Welcome hipmommee4. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

Down payments are absolutely not required on leased vehicles. Consumers can lease any vehicle that they want without making any sort of capitalized cost reduction. Many people think that down payments are required because most advertised lease payments include some sort of down payment. The reason why they do is the down payments make the monthly payment for the advertised vehicle look more attractive than the payment for a zero down lease. All you really have to pay at lease signing are your vehicle's first month's payment, security deposit, and acquisition fee. These are different than your making a cap cost reduction. You would be able to lease your car only having to pay the first month's payment at signing if you had the security deposit waived and the acquisition fee added into its capitalized cost. Let me know if you have any other questions.

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CarMan@Edmunds · July 2006

Hi Terry. You really should treat your trade as a separate transaction from your new vehicle lease. Doing so makes it easier to analyze how good a deal you are getting on both your new and used vehicle. The impact that your trade will have upon your deal will depend upon how much your payoff is and how much the dealer that you are working with is willing to give you for your vehicle. If your vehicle's payoff is less than the dealer is giving you for it, you have equity that you can use as a capitalized cost reduction for your new lease or have the dealer cut you a check for. If your vehicle's payoff is higher than what the dealer you are working with is willing to give you for it, to trade in your vehicle you will either have to pay money out of your own pocket or roll your negative equity into your new lease.

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mac06 · July 2006

Hi Car man,
Thanks for your earlier post. I wondering if I should buy/lease today 7/31/06 or wait for mid to late August incentives. Does Honda extend into August?? Thanks, Terry

germaj · July 2006

Is $300/mo, $2000 down on a $26000 MSRP Honda CRV SE a good lease for 36 months, 12k miles a year?? Must put down firsts and last months payment. This did not include tax, title, and registration. I have a credit score over 770. Thanks

CarMan@Edmunds · August 2006

You're very welcome, Terry. Honda's current incentives on the 2006 CR-V, the 2.9% - 4.9% APR program, $750 dealer cash, and standard lease program, are scheduled to run through September 5th. It is difficult to say what its incentives will be like after that date. Having said this, I suspect that the special financing rates will go away and Honda will continue to offer around $750 dealer cash and its standard lease program on it.

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CarMan@Edmunds · August 2006

Hi germaj. You never mentioned the selling price of the CR-V that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

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schweitz · August 2006

First of all thank you for taking the time to answer every ones questions. Second, I was wondering if you knew the current money factors and residual value numbers for an 06 CRV EX(both 12,000 and 15,000). I noticed in one of the earlier posts the .00144 and 59% was in affect on/before Jul 5th.

Thanks again

CarMan@Edmunds · September 2006

You're very welcome, schweitz. Here's the information that you're looking for. Unfortunately, Honda is no longer providing lease support on the CR-V. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2006 CR-V EX 4WD with 15,000 miles per year are .00293 and 59%, respectively. When negotiating your lease on this truck, keep in mind that Honda is currently providing $750 dealer cash on it. Make sure to take this cash into account when negotiating your truck's capitalized cost.

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cardummy3 · September 2006

Maybe someone can help me. I am considering a 36 month- 15000 mile/year lease on a 2006 AWD CR-V EX. I have been given a sale price of $21142 and am able to get the preferred rate of 0.00303. With my trade ($500) and putting down $1500 at signing, the dealer came up with $325/month. Does that sound right? They said the residual value is 59%, DMV fees are $239.20. I asked them to break down all of the fees and that is all I got. When I plug those numbers into a leasing caluclator, I come up with a much lower monthly payment. After reading some posts on this forum, I am sure that they are leaving out acquisition fees and the security deposit... but I don't know how you can find out if the numbers are right if they don't provide everything. I put down $500 to hold the car, but I am thinking of not going through with it now. Any thoughts or advice?

Thanks!

dadof · October 2006

I live in the Princeton, NJ area and am looking to lease a 2007 CR-V w/Nav. I intend to put very little money down. Has anyone leased such a car recently? I'd like to know how much I should be looking to pay per month for a 24-36 month lease for 12K/year.

Many thanks.

jpbran · October 2006

Actually the CR-V's with Nav won't be available until the end of December.

CarMan@Edmunds · October 2006

Hi cardummy3. I would be happy to tell you exactly what your lease payment should be on this truck right now. I have all of the necessary information to do so, except for its full MSRP. Let me know what this number is and I will crunch some numbers for you.

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CarMan@Edmunds · October 2006

Hello dadof. The redesigned Honda CR-V looks like a pretty nice truck. Its lease payment will depend upon its MSRP and selling price. I would be happy to give you an idea of how much it would cost to lease right now if you provide me with these numbers. You can look up its MSRP by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You may be able to get an idea of how much you will have to pay for it by visiting the following discussion: "Honda CR-V: Prices Paid & Buying Experience". Find out these numbers for me and I'll calculate what your lease payment should be.

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lama88 · October 2006

Carman
can you give me a estimate on what the monthly payments would be for a 2007 Honda CR-V EX-L. MSRP $28635 selling price is $25997 ( includes mats, cargo tray, moonroof visor mudguards, roofrack and sidestep)s. I would like a 36 month lease 12K miles a year no money down. I live in NY State and would like to pay the sales tax in the monthly lease payment
Thanks

bonzi · October 2006

I just got a leasing price of $389/per month for 3 yr. 12,000 miles for the EX-L with the same selling price, with $2,000 down. Don't know if that's a good price or whether they could do better. :confuse:

bea3 · October 2006

Hi, I am new. Hope this works. Had an accord, crv, and now a 2004 pilot, $31,000, exrls, loaded. I now want to get rid of it. Pay too much, $525 and month and is too big for me. Anyway a Honda dealer made me a lease offer using the leadership plan prg. I owe $24,000. When I bought it, I over bought all kinds of insurance, tires, gap, alarm, and something else I cant even remember. He is offering me a 2007 CRV, $24,000, pay off my pilot, a 48 month lease, and monthly payment of $459.00, he said it includes all taxes, fees, license, etc. How does that sound?

blueiedgod · October 2006

Hi, I am new. Hope this works. Had an accord, crv, and now a 2004 pilot, $31,000, exrls, loaded. I now want to get rid of it. Pay too much, $525 and month and is too big for me. Anyway a Honda dealer made me a lease offer using the leadership plan prg. I owe $24,000. When I bought it, I over bought all kinds of insurance, tires, gap, alarm, and something else I cant even remember. He is offering me a 2007 CRV, $24,000, pay off my pilot, a 48 month lease, and monthly payment of $459.00, he said it includes all taxes, fees, license, etc. How does that sound?

How much longer do you have left on the current lease? If it is just a year (2004-2007) on a 3 year lease, just ride it out. The prices on Gen 3 CR-V will come down next fall, because it won't be the "newest and hottest"

$459x48 months = $22,032. Since you did not list what CR-V exactly you were qouted on, I will use the 2WD LX, which costs $21-22,000. So after 4 years, you will have paid $22,000 on a $21,000 vehicle and will have to return it leaving you with nothing to show for that $22,000 in payments.

CarMan@Edmunds · November 2006

I sure can, lama88. According to my calculations, if you were to lease a 2007 Honda CR-V EX-L 4WD with an MSRP of $28,635 and a selling price of $25,997 through Honda Finance right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $330.

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CarMan@Edmunds · November 2006

Hi bonzi. The selling price that the previous poster described looks very attractive to me, but for additional feedback on how much you should pay for this truck right now you can always stop by the following discussion: "Honda CR-V: Prices Paid & Buying Experience".

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CarMan@Edmunds · November 2006

Hi bea3. It is difficult to evaluate the deal that you are getting on your new CR-V without knowing what its MSRP and selling price are. Consumers should always find out these numbers for any vehicle that they want to lease. The show you how much of a discount you are being given and one can use them to estimate what their vehicle's payment should be. Let me know what these numbers are and I will be glad to give you my opinion of this deal.

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tinad1 · November 2006

I am interested in leasing a 2007 CRV EX and am looking for the money factor and residual value. Does anyone have that information.

Thanks.

lama88 · November 2006

Can you tell me how you came up with $330. When I put the numbers in using a 57% residual value and .0029 money factor, I get $392
thanks

getwirednen · December 2006

Anyone know the residual and money factor for a 2007 CR-V EX-L? I'm curious to see both 24 and 36 months, with 15,000 miles.

Thanks in advance!

philalaw · December 2006

Can someone please give me an estimate for a lease for the 2007 CR-V EX-L. In Pennsylvania, MSRP is 24,800, Invoice is 22,936, Edmonds TMV is $25,146. I did receive a quote from a dealer in New Jersey though for $23,700. I have a trade in which Edmonds also estimate at $3,300. Thanks.

choncho06 · December 2006

Trim: 2007 Honda CR-V EX 2WD
MSRP: $23,445
Down: $1,00
Monthly payments: $377.00 (includes tax)
I live in California

I went to another dealership who said $1000 down, $350 including tax was a good deal, but I've been trying to find this car and a lot of dealerships around where I live didnt have it. Anyway, your input would be greatly appreciated!!!

choncho06 · December 2006

Oops, I meant I put $1,000 down

choncho06 · December 2006

More info: 36 month lease, 12K miles

CarMan@Edmunds · January 2007

Hi tinad1. Here is this truck's latest lease program. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 CR-V EX 4WD with 15,000 miles per year are .00275 and 62%, respectively.

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CarMan@Edmunds · January 2007

Hello philalaw. Let's work up a lease payment on the truck that you're interested in and see what we come up with. According to my calculations, if you were to lease a 2007 Honda CR-V EX-L 4WD without navigation with an MSRP of $24,800 and a selling price of $23,800 (for now I will assume that you are getting a $1,000 discount, if you are able to get a larger discount your payment would drop) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $348.

There's nothing wrong with trading in your current vehicle when you lease a new one, but it would be in your best interest to have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a capitalized cost reduction for your lease. Consumers who make large down payments on leased vehicles risk losing them if their car or truck is totaled in an accident or stolen and never recovered.

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CarMan@Edmunds · January 2007

Hi choncho06. You never mentioned the selling price of the CR-V that you leased. This is a very important number. I would be more than happy to give you my opinion of this deal if you let me know what your selling price was.

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chwtom · January 2007

I live in Wisconsin, with a local tax rate of 5.5%. I would like to lease a CR-V EX-L. I have been emailing dealers to get lease quotes, and got some conflicting information, so i was wondering if you could help me.

Dealer A said he would lease me the above model at 150 over invoice, which worked out to a 3 year, 36k mile lease at 370 month including tax.

Dealer B said that running the above parameters would yeild a monthly payment of 390/month with tax. he said he was figuring a cap cost of 24788, which is 150 over invoice, per him.

both would be zero down (except first payment/fees)

Not sure what the difference is. the only thing i could think of is that dealer A accidentally ran the lease with a front-wheel drive truck price (not sure why he would, since he only has AWD trucks on his lot, and said the price was good for an in-stock vehicle).

can you help me make sense of this? i would greatly appreciate your help. every time i deal with getting a new car i feel like i am being lied to constantly, so it is nice to have some solid info so i can know whether people are telling em the truth.

thanks
tom

chwtom · January 2007

anyone have the current residual and money factor for a 3 year lease with either 12k or 15k miles? the sales guy said they changed from last month, which car_man was nice enough to report. just looking for current figures.

thanks!

blackexv6 · January 2007

Hello Carman -

Do you know if Honda would do a 2 year lease on a CRV EX 4wd at 18k miles per year? I know this is a lot of miles for a lease but I see ads in the newspapers for 2 year Honda leases on Pilots.

chwtom · January 2007

i found what i think is current in case anyone else wants it.

it's here:
http://www.hondasuv.com/stg/viewtopic.php?t=19214

not sure of the accuracy of it.

CarMan@Edmunds · January 2007

Hi Tom. $150 over dealer invoice is a very good price for this truck. I would be happy to use Honda's latest lease program to calculate a sample lease payment on this truck for you so that we can see which one of the quotes you received is right. According to the latest information that I have seen, the 2007 Honda CR-V EX-L 4WD without navigation has an MSRP of $26,595 and a dealer invoice price of $24,638. Using this MSRP and a selling price of $150 over the aforementioned dealer invoice, I estimate that this truck would have a 36 month, 12,000 mile per year, zero down, pre-tax monthly payment of around $338, assuming that you qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing. So both of the quotes that you received look a little high to me. The fact that they include tax will make up for part of the difference. Opting to have your truck's security deposit waived would make some difference as well.

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CarMan@Edmunds · January 2007

Hi chwtom. This truck's lease program varies by trim level. For now I will assume that you are interested in a 2007 Honda CR-V EX 4WD. Let me know if you want something different. If you were to lease this truck through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00275 and 62%, assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Its 12,000 mile per year residual value would be 2% higher.

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CarMan@Edmunds · January 2007

Hello blackexv6. Honda's 2 year lease program for this truck is not very attractive. Its 3 year program is much better, so I'll share the information for both with you. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Honda CR-V EX 4WD with 15,000 miles per year are .00380 and 71%, respectively. The numbers for an otherwise identical 36 month lease of this truck are .00275 and 62%, respectively. These money factors assume that you qualify for Honda Finance's "Super Preferred" credit tier and pay a security deposit at lease signing. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

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kwokpot · January 2007

Carman:
I know this post is after the fact, but I wanted your opinion on a new lease deal I just sign. I know I did some things that you don't approve of, but I'm looking to make sure I didn't get taken. This is my 1st car lease, I usually purchase for cash,not even financing, so I was green. Anyway, the #'s:
07 CRV EXL no Nav; MSRP $26595 - negotiated price $26090,
36 month lease, $5000 down from a trade In( I know, I know),$5,000 cash back from trade In;
12,000 miles/yr, .00285 Money Factor & Residual Value of $16,222/61% money payment of $287 before tax. Just moved from NYC to Philly, Pa has 10% total tax.
I less concerned about the negotiated price than making sure the other factors are correct - aren't those set by NA Honda Financing? Thanks for any insight possible, I'll make sure I'll negotiate better on my next lease!

bifurd · January 2007

Hi,

Can anyone please tell me if I am getting a reasonable deal, or not, on a 2007 CRV LX 4WD lease.

42 months, $3700 due at delivery (includes all fees and 1st month payment) 12,000 miles $250 a month.

Thanks in advance for any advice.

ajfitzer · January 2007

Bifurd, where do you live? The offer seems reasonable, but would need to know the MSRP, Invoice, to know for sure.

Let me know, as I am in the market in NJ for a CRV as well.

Fitz

bifurd · January 2007

MSRP $21,800 not including fees, it would come out to around $24,00 to buy

I live in the Bronx.

hondaguy67 · January 2007

great point my friend but then again that is why you need to buy Gap Insurance with any lease

it is cheap and will save you from any of those headaches

kyfdx · January 2007

GAP insurance won't reimburse the lessee for any money that they put up as a CAP cost reduction. It only protects the lessee from a difference (shortage) between the payoff of the lease and the ACV paid by their insurance company.

Also, all AHFC (Honda Finance) leases already include GAP insurance.

regards,
kyfdx

2013 and earlier-Honda CR-V Lease Questions

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