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2013 and earlier-Honda CR-V Lease Questions

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Comments

  • hondaoracurahondaoracura Member Posts: 11
    Hi, sorry if this was covered earlier but can someone post the current MF and residual for the EX model on a 12K mi/yr, 36 month lease (super preferred credit tier)? Last numbers I believe I had seen were .00156 and 62%, respectively. Thanks.
  • klenjklenj Member Posts: 23
    Parents are looking to lease a LX.. Does the $317 include tax? What state are you in?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hondaoracura. Here's the information that you're looking for.

    Honda Finance's current buy rate lease money factor and residual value for a 3 month lease of a 2010 CR-V EX 4WD with 12,000 miles per year are 00200 and 63%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • epearlepearl Member Posts: 1
    I'm new to this topic and was hoping to get some advice on a lease. I'd like to lease a Honda CRV EX-L with Navi for 36 months and 21,000 miles per year. The transaction is in NJ (7% sales tax). Could someone estimate what a good lease price would be for a sign and drive?
    Thanks
  • josewjosew Member Posts: 1
    First time poster -- I've read back a couple of months, but haven't seen much posting lately about lease deals. I'd appreciate any help / recent experience if people have it and apologize for the broad post.

    Dropped by a dealership last week and was told there aren't as many Honda incentives for CRVs as for Accords/Civics. Told best I could hope for on a 3 yr, 12k lease with 0 down would be $340 a month (all inclusive) on the EX or EX-L. State tax is 8.25%. Any thoughts or suggestions? Should qualify for the super-preferred rate. Many thanks in advance, will definitely share final result for the board.

    Best,
    Jose
  • oppielightoppielight Member Posts: 5
    MSRP: 27275
    roof rack: 404.47
    discount: 1495.97
    Sell Price: 26193.50
    Trade in equity: 889
    Balance due after trade in and fees: 28060.25
    cash down: 626
    36 mnth 12k mile monthly =$338.39 and after tax = $368

    Should I haggle or is this acceptable?

    location: costa mesa, CA
  • cnote2cnote2 Member Posts: 140
    looking for 39m mf and residual on ex-l awd and ex-l awd w/nav. thanks
  • colleen178colleen178 Member Posts: 7
    Hi, I have a 2007 CRV EX with 29K that I am either going to purchase or lease a new one. I'm new to this forum and would like some advice. Can someone tell me what info you need to do this? I can did out my lease papers to give you info from those if needed. Looking to do this in late July or late August. Thanks so much. Wish I'd known about this site in 2007.
  • oppielightoppielight Member Posts: 5
    I just leased a 2010 ex-l yesterday (july 10). I traded in my 2007 honda pilot lx with 29000 miles. The payoff was 15,611 and they gave me 16500. So, that was a credit of 889 towards my lease (not sure how that played into my lease). The mf for excellent credit is currently .00137 (ahfc) and the residual for 36 month 12K mile lease is 58% of MSRP = 15819.50. The MSRP is 27275 (includes 780 dest fee). My agreed upon value of CRV ex-l was 25407.32 then add in lease acquistion fee of $595 (set by honda) and my GROS CAP COST was 26003.32. CAP reduction of 392.47 brought by adjusted cap cost to 25610.85 (used in calcing base monthly). So, my base monthly lease payment is 328.74 and after tax it's 357.50. The only cash I gave them to drive off was my first months payment of 357.50.

    Hope that helps.
  • delta737hdelta737h Member Posts: 626
    edited July 2010
    oppielight,

    Your 889 trade credit should have been used as a non-taxable cap reduction. I see that only 392.47 was used to reduce the gross cap. This seems like an odd-ball amount... where did that come from? It looks like a calculated number. And, what happened to the 889 net trade-in credit? It doesn't appear to have factored into the lease. If not, your base payment should be 302.83 which is 25.91 less per month... that's a fairly significant peice of change!

    And, please, don't let the dealer tell you that they deducted it from the sell price to get the Agreed Upon Value of 25,407.32 because that's not going to fly at all. Trade credits should be itemized and disclosed in the lease agreement.

    John
  • oppielightoppielight Member Posts: 5
    I thought there was something funny there. But I didn't notice until after I got home. I was super cautious while I was there but I still got the feeling something was amiss. I appreciate you noticing. I thought I caught everything but I guess not. This is the 2nd time i've leased. I was determined not to get hoodwinked this time but I may have. Is it possible to send you a copy of my lease agreement. Maybe you can tell me what kind of shenanigans they pulled. I don't know if I will have any recourse but it will be good knowledge for 3 years from now. http://docs.google.com/fileview?id=0B3UydSp_cf0XYTdmYTBkMmItYzcwMS00ZTIzLWJhMWEt- YzI4NWUyNzc0ZWIw&hl=en&authkey=CJiewa4N

    Please cut and paste link to see my lease doc. If this in inappropriate I apologize. I will remove the doc from online as soon as you let me know you have looked at it. Thank you in advance for you input and time.
  • oppielightoppielight Member Posts: 5
    I figured out the discrepancy - which wasn't a discrepancy at all. The cost of fees leads to 825.19. The difference between what I owed in fees and the sum of my trade in equity and cash down is 392.47+34.34(tax). The 392.47 was my cap reduction after paying fees/taxes. I think all is well. Thanks John.
  • delta737hdelta737h Member Posts: 626
    Okay, great!

    Good luck!

    John
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cnote2. You definitely are better off going with a 36-month lease over a 39-month lease. Honda's lease support on most models is only available for up to 36 months.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Honda CR-V EX-L AWD with 15,000 miles per year are .00137 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    If you add navigation to this truck, its money factor is the same, but its residual value drops by 1%.

    Car_man
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  • anne28anne28 Member Posts: 1
    I just leased a CRV LX in Urban Titanium Metallic for 36 months, 12,000 miles. The sales Price was $21,000, monthly payments are $273 Plus tax (9.75% in California) and I put down First month's payment plus DMV fees, which came to $688. The first dealer I went to only had the LX in black on the lot and was going to charge me $600 more to get the color I wanted. So I went to another dealer who had all colors in stock for the same price. But I am still wondering if I could have done better.
  • veno12veno12 Member Posts: 3
    How does this lease deal sound? 2010 crv ex 4wd 36 month lease, 2500.00 down, 15,000 mile allowance--$280.00 a month. It seems a little high, but I like the car! Anybody care to opine? Thanks Alot
  • colleen178colleen178 Member Posts: 7
    edited July 2010
    I'm getting ready to buy or trade my 2007 CRV EX lease. Can someone tell me if the lease deal I made was good in 2007 and should I buy this car or trade for a new one. Thanks so much for any help. Not sure what info you need so excuse me if I give you too much.

    $24,595 Cap Cost
    $3676 Cap Reduction
    $20,918 Adj Cap Cost
    $15,279 Residual Value
    $5638 Depreciation
    $3609 Rent Charge
    $9547 Total Payments
    $265 for 36 Months

    Itemization amount due at lease signing.

    $3676.84 Cap Cost Reduction
    $294.15 Sales Tax on Amount Paid in Cash/Downpayment
    $265.21 1st Payment
    $71.25 Reg Fee
    $12.50 NY Waste Tire Fee
    $45.00 Doc Fee
    $763.80 Sales Tax/Upfront Tax
    $5128.75 Total

    Trade in was a paid in full car that they gave me $5128.75 so I walked out of the Honda dealer with a new car and no money out of my pocket. Was this a good deal or did I get ripped somehow? I was so happy with a $265 payment I'm not sure I paid as much attention to the deal as I should have. Now that I am ready to buy this car or trade it I want to be very well prepared. Thanks again for any and all help.
  • blueiedgodblueiedgod Member Posts: 2,798
    Trade in was a paid in full car that they gave me $5128.75 so I walked out of the Honda dealer with a new car and no money out of my pocket. Was this a good deal or did I get ripped somehow? I was so happy with a $265 payment I'm not sure I paid as much attention to the deal as I should have. Now that I am ready to buy this car or trade it I want to be very well prepared. Thanks again for any and all help.

    What did you trade in? Was it worth more than $5128.75 they gave you for it?

    I assume the buy out is at $15,279. See what other CR-Vs with 36,000 miles are selling for. It sounds like a good price to me, but I have not shopped used cars.

    The only thing to think about is that the sum of total payments is $30,000.

    Are you buying it out with cash or financing? Over what period of time? In a few years you may end up with a $32,000 vehicle that is 5 years old.
  • colleen178colleen178 Member Posts: 7
    Car I traded was a Mazda Tribute 2001 with 100K. If I sold myself I wouldn't have gotten much more for it and didn't want the hassle of selling. Was afraid I'd sell to someone then something major would go wrong and I'd feel bad so just traded. If I buy my 2007 CRV I will pay cash, no finance.
  • colleen178colleen178 Member Posts: 7
    Just went to dealer and they pi$$ed me off! Tried to give me $16,200 for my 2007 CRV with 29K. Then they wanted me to give them $3600 dp for a monthly payment of $252. Residual value was 63% which made buy out $16K+ at end of lease. They should have offered me at least $17,400 for my trade and I think residual should have been 57% plus they were charging me full price for car. I got mad at finace guy and walked out. He was a jerk. My salesman is a good guy and I felt bad for him. Finance guy killed the deal. I'm going to another Honda dealer today or tomorrow, hope to do better. Any words of advice from anyone before I go to the next dealer? Thanks!
  • blueiedgodblueiedgod Member Posts: 2,798
    Just went to dealer and they pi$$ed me off! Tried to give me $16,200 for my 2007 CRV with 29K. Then they wanted me to give them $3600 dp for a monthly payment of $252. Residual value was 63% which made buy out $16K+ at end of lease. They should have offered me at least $17,400 for my trade and I think residual should have been 57% plus they were charging me full price for car. I got mad at finace guy and walked out. He was a jerk. My salesman is a good guy and I felt bad for him. Finance guy killed the deal. I'm going to another Honda dealer today or tomorrow, hope to do better. Any words of advice from anyone before I go to the next dealer? Thanks!

    Let me get this straight. You have leased a 2007 CR-V, right? And you are trying to buy it out?

    Why are you going to dealers?

    Your lease agreement should state what your buy out is at the end of the term, unless it does not allow you to purchase it at the end of the lease term.

    Is it LX, EX? 2WD, AWD? What state are you in?
  • colleen178colleen178 Member Posts: 7
    I was there to trade my 2007 CRV EX for a 2010 CRV EX 4WD. I'm in NYS.
  • blueiedgodblueiedgod Member Posts: 2,798
    I was there to trade my 2007 CRV EX for a 2010 CRV EX 4WD. I'm in NYS.

    Do you own the 2007?

    Are you leasing the 2010?

    What is wrong with 2007 that you want out of it into the same 2010?
  • delta737hdelta737h Member Posts: 626
    Colleen178,

    It's really difficult to tell whether or not you got a good deal. From the data you provided in post #733, the 2007 CR-V selling price appears to have been 24,000 and the gross cap 24,595 (24,000 + 595 acq fee). I have no idea what a competitive selling price on a 2007 CR-V would have been three years ago. My best guess is that it appears reasonable. Your money factor was 0.00300 which equates to 7.20%. Don't know what market rates were back then but it seems kind of high. Did you have Tier 1 credit?

    I can't comment on the 5,128 that they gave you for your trade because I have no idea what your trade was worth.

    I can tell you that all the calculations appear to be done correctly including the NY sales tax calculation at 8.00%.

    John
  • frog22frog22 Member Posts: 24
    edited July 2010
    Last week I leased a 2010 4WD Honda CR-V EX w/ 12,000 miles per year, 36 months.

    I put only taxes, DMV fees and first month's payment down (about $1400), and the payments are $275 a month.

    This is my first Honda and only my second lease. How'd I do? :blush:
  • CapeCodCapeCod Member Posts: 117
    New to leasing so I may ask 'foolish' questions...
    Should I be putting more $$$$ into the down payment of a lease to lower the monthly rate or is that counter productive???
    Post # 741 shows a $275 payment with only $1400 down!
    What would the Money factor for that deal work out to?
    Toyota is offering me .ooo2 MF which I think is good...
    so it probably means they are beating me somewhere else, right???
    BTW I am torn between RAV, CR-V, or Prius ???
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi veno12. You never mentioned what this vehicle's selling price is. This is a very important number to know when leasing. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without the selling price, it is more difficult to tell how large a dealer discount you are being given, and in turn if there is more room left to negotiate. Let us know what this number is and I'm sure that either myself or another knowledgeable community member will tell you what they think.

    Car_man
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  • r56mellowyellr56mellowyell Member Posts: 3
    Car Man:

    Could you post the residuals and MF's on a 2010 CR-V EX-L 4WD. 12,000 miles lease for both 24 and 36 months. If it matters, I'm in California.

    Thanks,
  • superasupera Member Posts: 13
    edited August 2010
    Hi,

    Pl let me know if I got a good deal. This is for the 2010 CRV EX-L 4WD with Navi. State is NJ (7% tax). This is for 24 month lease/12,000 miles/yr. Have Tier A credit.

    Agreed Value of car - $28404

    Gross Cap Cost - $29764
    Cap Reduction - $2266
    Adj Cap Cost - $27498
    Residual Value - $19841
    Depreciation - $7657
    Rent Charge - $1556
    Months - 24
    Total Monthly Payment - $375 (includes tax)

    Paid the following out the door
    Cap Cost reduction - $2260 +
    First Monthly Payment - $375 +
    Registration Fees - $191 +
    Doc Fee - $249
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome CapeCod. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    In answer to your specific question, it is in your best interest to put as little money down as possible when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, it's much safer to go with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, r56mellowyell.

    Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2010 CR-V EX-L 4WD without navigation with 12,000 miles per year are .00137 and 66%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical 36 month lease are .00137 and 59%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi supera. The selling price that you were given for your CR-V is right around dealer invoice. I doubt that the Honda dealer marked up your vehicle's money factor, so this looks like a very good deal to me. Enjoy your new ride :) !

    Car_man
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  • jamtracyjamtracy Member Posts: 75
    Car_man, please excuse my ignorance. When you give a residual percentage is that off of the negotiated price of the vehicle? If so why is the MSRP always mentioned? Thanks for your help. I enjoy your posts and have learned a lot.

    James
  • kyfdxkyfdx Moderator Posts: 235,200
    The residual is a percentage of MSRP...

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  • nymountaingoatnymountaingoat Member Posts: 4
    Hoping someone can take a look at this lease and let me know how it looks, I live in NY, the sales tax is 8.875%. Also, I added wood trim as a dealer installed option, (I know it's a lease, I know, I just like it better!):

    2010 Honda CRV EX L 4WD w\out Navi
    36 Months
    15,000 miles per year
    1st Month, Bank Fee, DMV, and Taxes Upfront
    1st Month: $363.86
    Bank Fee: $595
    Tax: $1162.53
    DMV: $97.50
    Plate Transfer: $140
    Money Factor: .001370
    Residual Value: 57% ($16,259.25)
    Dealer Cost: $26,910.71
    Selling Price: $27,160.71
    Total Cap Cost: $27,213.94
    Total Dealer Profit: $250

    Anyone more experienced have an opinion??

    Thanks! :)
  • delta737hdelta737h Member Posts: 626
    edited August 2010
    nymountaingoat,

    You didn't indicate the adjusted MSRP after the dealer installed wood trim and so I am assuming it's $28,525. Dealer profit is irrelevant. However, I can promise you that the total dealer profit on this vehicle is much more than $250.

    All calculations have been done correctly. I can't vouch for the money factor (mf). Is the mf the buy rate (i.e., the mf with 0 dealer profit)? The selling price seems very high. You may want to check TrueCar.com or overstock at zag.com for low competitive selling prices in your area. Check Edmunds invoice pricing as well as incentive offers, if any, on this vehicle. Also, it seems a little strange that the difference between the total (gross) cap cost and selling price is $53.23. What does the $53.23 represent? It just doesn't look right.

    John
  • nymountaingoatnymountaingoat Member Posts: 4
    Adjusted MSRP is $28,525...thought the selling price was pretty close to invoice but I'll double check.

    Thanks!
  • nymountaingoatnymountaingoat Member Posts: 4
    Truecar.com indicates a good selling price as anything less than $27,500....that's without wood trim.

    Edmunds TMV What Others are Paying indicates a selling price of $27,091 also w\out wood trim.

    Wood trim in this case was $325

    My selling price was $27,160.71
    The Total cap cost was $27,213.94

    Any other thoughts given this info?

    Thank you very much!
  • nymountaingoatnymountaingoat Member Posts: 4
    Anyone??
  • veno12veno12 Member Posts: 3
    I was offered a lease for this car with 2500.00 down, payments of 271.30 a month. The price to buy, including destinantion fee, but excluding tax, was 24128. The lease is for 36 months at 15k per year. Any thoughts or comments would be helpful. Thanks
  • veno12veno12 Member Posts: 3
    edited August 2010
    Hello, I was offered a lease deal for a crv ex 4wd. The price of the car ic 24128.This includes destination. The only thing not included is tax. I live in NY. The lease offer is 2500.00 down, 271.30 monthly for 36 mos with a 15 k allowance. Any thoughts or comments would be welcome. Thank You
  • swifty3swifty3 Member Posts: 12
    Hello,

    After utilizing CARSPACE forums over the past several weeks I have finally signed a lease on a new CR-V. I am very happy with my deal, and this great deal is undoubtedly a direct result from the competitive and informative information found in these forums. So thank you to all that contribute!! I test drove just about everything in this mid-size SUV class including the Sorento, Escape, Liberty, Tiguan, and Forester. But at the end of the day the very high residual value on the CR-V simply made Honda's deal the most car for the least amount of money. I'd say a close second choice was the Tiguan which had the most street appeal and pep in the engine, but the equivalent options on this vehicle could easily boost it's MSRP to $35k compared to CRV's $30k.

    Here's my deal in GA:

    2010 CR-V EX-L w/ Navigation 4WD - Glacier Blue Metallic

    36 month lease / 15,000 miles/year

    MSRP - $30,525
    Negotiated Cap Cost: $27,535 + $780 Dest. Charge = $28,315
    Residual Value: 56%
    Money Factor: .00137
    Sales Tax: 7%

    Out of Pocket (Down Payment)
    $487 Doc Fee
    $595 Bank Fee
    $21 Tag/DMV
    $942.12 Tax (all tax paid up front)
    $373.90 1st Month Payment
    TOTAL UP FRONT OOP: $2419.02

    Gross Monthly Payment: $373.90

    I hope this information helps future lessees and good luck!
  • coolflea216coolflea216 Member Posts: 3
    In OH

    2010 CR-V EX 2WD

    36 month lease - 12000 miles/year

    Total up front $585

    Monthly payments $284
  • someguy17someguy17 Member Posts: 2
    This is my first time using this blog; wondering if anyone could give me input on my 2010 CRV EXL; no/nav lease.

    Returning my 2008 Pilot with $1400 of mileage overage - buyout was $18,000 and they would give me wholesale $18,700. Leaving me with a balance of $700 due.

    Terms of lease: 36 mnth / 15,000 mi
    MSRP $28,525.00
    Cap Cost $27,215
    Selling price $27,086
    Residual value 57% = $16,260
    Money factor is .001370
    Down: $2000 + 700 for mileage = $2700
    Taxes, bank fees & first pymt of $358.00
    DMV fees additional

    This was the best I could get with a roof rack installed after much back & forth.
    Any feedback is appreciated.
  • audieddyaudieddy Member Posts: 52
    Does anyone know what the residual and money factor are for 2011 CRV- EXL and EXL with NAV for 10/12/15k? My local dealer has 5 ExLs in stock.
  • dodgehappydodgehappy Member Posts: 118
    edited October 2010
    Was quoted a lease in central ohio on a 2010 CRV LX 4x4 at $294 per month tax included or a 2010 EX for $329 per month 36 months with 0.00 out of pocket- 12000 miles per year. How is this monthly payment on a 2010 LX or EX with nothing out of pocket?
  • miamicrv1miamicrv1 Member Posts: 66
    I was quoted $310/month for 36 months/15,000 miles on a 2010 EX, FWD, $0 out of pocket here in Miami, FL. A salesperson gave me the quote over the phone, I'm going to see him tomorrow hopefully. It sure seems like a good deal on the surface. But I haven't seen an of the individual numbers that went into the calculation.

    It actually works out cheaper in the long run then a Hyundau Tucson GLS which is going for $258/month and $2444 down.
  • swampdragonswampdragon Member Posts: 35
    I was at a dealer in NJ and am looking to trade in my pilot coming in shortly off lease.

    I was looking at a 2010 Accord EX - 12k miles - 3 year nothing down lease through AHFC - I was quoted a price of $299

    I then asked about a CR-V EX 4wd - same lease and was quoted $359.

    The sticker price is about the same on both these vehicles.

    Why are they so different? Is the CR-v worth substantially less after 3 years - or is one price just out of line
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome someguy17. The dealer invoice price of the CR-V that you described is $26,586. That puts the selling price that you were quoted at around $629 over dealer invoice. That's not bad. If you're in an area that has a decent level of competition and you shop around, you may be able to find a dealer that will beat this offer by a couple hundred dollars, but again this isn't a bad deal.

    When negotiating your deal, make sure that the dealer uses Honda finance's current buy rate lease money factor of .00080 to calculate your vehicle's payment. This factor assumes that you qualify for Honda Finance's "Super Preferred" credit tier. It's quite a bit lower than the factor that you mentioned.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, audieddy.

    Honda Finance's October buy rate lease money factor and residual value for a 2011 Honda CR-V EX-L with Navigation and 15,000 miles per year are .00200 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The residual value for a lease with only 12,000 miles per year is 2% higher.

    I don't believe that Honda Finance offers 10,000 mile per year leases on Honda division vehicles, but if it does, its resids for them would be 3% higher.

    Car_man
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