Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Options
2013 and earlier-Honda CR-V Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
I was quoted 245.54 - with 755.54 down for the accord
295.88 with 805.88 down for the CR-V
If I wanted to put less down - then the monthly math would need to be adjusted.
Another dealer was at $299 for the Accord - nothing down
Honda is offering $250 with nothing down but on the Accord LX Model
I might be oversimpligying things but why should I concerned about the dealer price and residual on a straightforward lease? I want to put nothing down and don't plan on keeping the vehicle at the end of the lease - I will look at the numbers for overage on the miles - no return fee - AHFC has a $1500 deductible on return also.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
MSRP $28525
Cap Cost $26499 (with destination)
Acquisition Fee $595
MF 0.00080
DMV/Title/Fee $300
Residual Value $16259
Total Out of Pocket Taxes etc $1500
OTD Mo. Payment $339
I'm to meet with saleman this week, anything else I should know, any advice, thoughts?
Thanks
Thanks!
MSRP: 23,700
Cap Cost: 22,300
Residual: 60%
MF: .0008
Monthly Payment: 275
Bank and DMV fees upfront (~$900). Taxes (7%) in the payment. This the first offer the dealer gave me without any negotiation. Seems like a fair deal...
The 0.00080 MF and 60% residual factor applies to the 2010 CR-V LX 36/12k lease not the 2011 CR-V. AHFC is not offerring subvented financing for the 2011 CR-V.
John
My best guess is that it was an honest mistake. I just analyzed a lease for a 2010 CR-V from an Ohio dealer with an MF of 0.00080 and residual factor of 60% for a 12K/36 month lease. The dealer needs to double check their rate sheets. However, I'm not sure but I think the 2011 MF is 0.00200 and residual 62%.
Good luck!
John
MSRP 26,025
Invoice 24,267
Incentives 0
Holdbacks 505 (Adjusted invoice = $23,762)
Residual 66%
Money Factor .00158
Acquisition 895
SALES PRICE 23,888
ADJ. CAP COST 24,783
277.57 payment + 26.23 tax = $303.80
There's a $400 dispo fee at the termination, so the adjusted monthly cost is $314.91.
We compared it against the 2010 EX with Honda's .0008 MF. Those #'s were:
MSRP 25,875
Invoice 24,128
Incentives 0
Holdbacks 502 (Adjusted invoice = 23,626)
Residual 60%
Money Factor .0008
Acquisition 595
SALES PRICE 23,697
ADJ. CAP COST 24,221
275.38 payment + 25.80 tax = $301.18
So for a difference $12 per month, we went with the 2011 model so that my wife could drive off the lot in a black on black, which we've been unable to locate in the 2010 model. Plus, we got to stick with a salesperson/dealer I've stayed loyal to for my past 9 cars...which helps make it worth the extra cash!
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Also, I really don't know much about this Lease Calculation thing. Can anyone review the deal I got at below, and tell me what I should be careful about when I meet a sales associate tomorrow to purchase a CR-V EX-L?
2011 CR-V EX-L
MSRP $27,895 + $780 (destination)
Total out of pocket downpayment at $3,000
Total out of pocket monthly payment of $299 for 35 months
NYC tax rate is 8.875%
Please help!
I'm planning to buy this one tomorrow.
Thank you so much in advance!
2011 CRV SE FWD
15,000 miles per year for 36 months
I paid only the first payment of $259.04 on Saturday (Including 7% sales tax)
I have 35 more payments of $259.04.
I think this is a good deal. Can anyone top this?
The easiest way to evaluate the deal that you were quoted would be to take a look at this truck's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number it is much more difficult to tell how large a dealer discount you were given and in turn if there is any room left to negotiate. Let us know what this number is and Im sure that either myself or another knowledgeable community member will gladly tell you what they think.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Do you have the mf and residual for same WITH Nav?
Thanks,
Steve
"Here you go, forschreiber. Honda Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V EX-L without navigation with 15,000 miles per year are .00071 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum"
First time thinking of a lease but got complicated when trying to factor in a trade so i'm thinking better without, sell myself. Is that smart?
I'm looking for a 3yr/12k miles, no money down except nec stuff. But what is that?
Getting all kinds of crazy fees that i think are bogus! What should be the only fees?
And, in NY vs NJ (live border) are there different fees? I heard no doc fee NY?
Had some jerk try to tell me the glass etching fee was Honda req? Yeah right, walked out, when he said they put door pads on all the doors too.
Lastly, how do you know how to compute the lease, tries Edmunds calc, didn't work at all. Are these fixed by Honda? I want to negotiate the price first and down but how do i know they did it accurately?
Thx a lot!
ps
The deals i did get so far, several, with little haggle was $349/mo inc tax (down is 1st, dmv, doc.) Putting money down isn't a good idea, i know that much w/lease.
I also got a trade offer $325w/tax and a check back for $2400. They were giving me $4000 for my mint 2000 civic.
Your deal sounds decent to me. My deal is 377 a month including tax but I am getting Nav and 15000 miles. My doc fee in LI was 75 dollars. Also they are charging tax on the bank fee and the doc fee, said its a new NYS thing. Also NYS tire disposal fee of 12.50, wtf is that I am not disposing I am buying!.
Can anyone help me with the money factor and residual for November for the 2011 CR-V SE AWD?
Thanks!
2011 Honda CR-V EX-L with navigation
Lease is 36 months at $375 with tax. No money down or due at signing.
MSRP is 29425
Residual is 59%
Money Factor is .00017
Cap cost is $27,719.62
I live in 30067
Is this deal a good one? Considering finalizing this today
I have contacted several dealers around here and no one can come close to that with no money down, for the package that i wanted.
If they ask for a down payment and they will, have a check written out to the amount of $500.
I am a first time car leaser.
Here are the details
MSRP: 23,725
Residual: 63%
MF: .00071
Terms: 36 months/12K
My Questions:
1. Should I put a down payment? say $3000?
2. Should I be negotiating a better MSRP? or profit on top of their invoice price?
3. I understand I should get the security deposit waived? what else should I try to have waived?
4. Should I try to get add on included in the deal such as heated seats, or the thingy that covers the back trunk that is silly to not be included!!!
I really appreciate any helpful hints. P.s. I have good credit!
Marianne
Dealership in Bellingham WA
Dealer Net: $22134.19
Gross Margin: $1381.33
Acq Fee (included in payment calc) $595
Gross Cap Cost before Dealer Contribution: $24,110.52
Cap Cost Reduction: $1870.00
Net Cap Cost: $22,240.52
MSRP: $23,725.00
RV% (12000 mi/yr): 63%
RV calculated: $14946.75
Money Factor: 00071
Depreciation: 202.6
Service Chg: 26.40
Base Payment: $229.00
Amount due at signing: $2,099
Security Deposit Waived
What do you think of this offer, where should I negotiate?
Thanks,
Marianne
I wish to thank you in advance of any information you - or kyfdx - might provide to my questions on this leasing forum (as well as some other Honda car leasing forums I'll post a question on).
Because of your essential information 4-1/2 years ago I read here on Carspace/Edmunds, we were able to negotiate, in April 2006, a 3 year/15k lease on the then current year 2006 Honda Pilot EX-L that:
We got priced down to $28,139.48, and, thuslyCost us only $358.14/monthHad a residual of only $16,197.50... so we bought the Pilot at the end of our lease!!!
We're currently looking to lease another Honda - somewhat more mileage oriented - and wish to know if you have any December figures for the CRV?
My wife and I are looking at the 2WD 2010 EX or EX-L leftovers or the current 2011 2WD EX or EX-L's, 12k/15k residuals and the money factor(s) for the Honda Financial leases.
Is there a difference in the lease factors for the 2010 or 2011 years?
Once again, THANK YOU!
Sincerely, builder
LEASING... NO WAY (at least for an individual/non-business).
Your GAP coverage will only cover what you owe on the car: if it's stolen or - heaven forbid - there was a MOST serious accident, some or ALL of that three grand will be unrecoverable.
2. Should I be negotiating a better MSRP? or profit on top of their invoice price?
Don't talk about leasing with your dealer to start out... get as LOW of a purchase price as you can - see the other CRV forum for prices paid (may vary as to the region in which you reside) - then you can compute the depreciation/residual and money factor numbers when you're discussing the lease.
Nonetheless, basing a lease off of the published msrp will not result in your best deal.
3. I understand I should get the security deposit waived? what else should I try to have waived?
If you're dealing with a Honda dealer, take a look at the current specials running off of the Honda Motors website: $0 down for many of the autos (read the fine print:TTL, Dealer "fees", et.al., will have to be paid "upfront" or rolled into your lease payment).
4. Should I try to get add on included in the deal such as heated seats, or the thingy that covers the back trunk that is silly to not be included!!!
Not sure what you're talkin' bout here... heated seats and such are based on the "trim level": heated seats will only come with a leather seat trim model which the LX SE does not have.
As far as the cargo cover... after you get your best price, my advice would be to try to get them to throw that in: after they agree - with a FIRM commitment from the Dealer's sales manager, then start talking lease with the residuals and money factors you'll find here from the moderators here: car_man & kyfdx.
GOOD LUCK (!) and let us all know how it goes...
I know that lowers the payment but you are still paying it. Get them to lower the cost of the car. So, i guess that could be #1, always negotiaite the car price first. Don't say i want my payment to be X as they will tweak things you don't understand to get you there.
I spoke with Honda finance direct and they told me, off the record, the exact same thing. They also dictate residuals etc off MSRP and the invoice is fluff too. The only charge Honda requires is the $595 bank fee. The dealerships add everything else, mostly. Some will try to add extras tell them no! if they are on the car tell them you are NOT paying for them.
Here is the deal i just signed, Honda CRV EXL (no Nav, not worth it, nuvi $100)
3yr/12k mi lease. $287.83/mo.
MSRP 28675, price for lease $26050 w/destination.
Out of pocket $1117 included 1st mo, bank fee, dmv and bs NJ tire fee.
I got them to waive the doc fee, never pay that! and throw in an oil change as i walked out when they said no to the doc fee but they ran out after me. i did almost all the nego's online as i won't waste my time. another guy was in there holding out for financing and he was gettting everything too. Be strong and firm and you will prevail!
Remember the most important is price first as that is what they base the lease amount on! And then only pay down the min. GOOD LUCK!
Regarding your deal:
Did you negotiate down from MSRP from 28675 to $26050 w/destination?
If so, then I should just give them a price around $2500 off of MSRP, would that be a good place to start?
sorry I am not a pro at this stuff.
Marianne
My question: What is the standard amount of wiggle room on price that is typically given among dealers out there? Is it for example $2500 off of MSRP (or Invoice price for that matter)? Just need to know what a good starting point is, if anyone can care to share their success here?
Thanks,
M
The following article outlines how to calculate lease payments: Calculate Your Own Lease Payment.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V EX 2WD with 15,000 miles per year are .00071 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
The numbers for an otherwise identical lease of an '11 CR-V EX-L 2WD are .00071 and 57%.
If you were to lease with only 12,000 miles per year, these vehicles' residual values would be 2% higher.
Honda is not providing any lease support on the 2010 CR-V any longer so you probably will be better off leasing a 2011 model.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
"First, I would never put cash down for a lease on a car you might give back. And, never pre-pay the tax. If its totalled or stolen, you are out that up front cash whatever the payout. Also, a lease is not ownership as they might have you think.
I know that lowers the payment but you are still paying it. Get them to lower the cost of the car. So, i guess that could be #1, always negotiaite the car price first. Don't say i want my payment to be X as they will tweak things you don't understand to get you there.
I spoke with Honda finance direct and they told me, off the record, the exact same thing. They also dictate residuals etc off MSRP and the invoice is fluff too. The only charge Honda requires is the $595 bank fee. The dealerships add everything else, mostly. Some will try to add extras tell them no! if they are on the car tell them you are NOT paying for them.
Here is the deal i just signed, Honda CRV EXL (no Nav, not worth it, nuvi $100)
3yr/12k mi lease. $287.83/mo.
MSRP 28675, price for lease $26050 w/destination.
Out of pocket $1117 included 1st mo, bank fee, dmv and bs NJ tire fee.
I got them to waive the doc fee, never pay that! and throw in an oil change as i walked out when they said no to the doc fee but they ran out after me. i did almost all the nego's online as i won't waste my time. another guy was in there holding out for financing and he was gettting everything too. Be strong and firm and you will prevail!
Remember the most important is price first as that is what they base the lease amount on! And then only pay down the min. GOOD LUCK! "
I didn't use that tatic but if you pay attention to a saleman how many times do they say if you are serious about the car today are you willing to sign and I will work on a deal. Why give them a chance with there pre written speach, be proactive, you should make the pitch, be in control your the buyer.
Thanks!
LianneLL
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
I did not sign lease contract yet.
I have next deal:
2011 Honda CR-V 2WD EX-L no navig
$306/m, 36 month, 12000 m/y, $1600+ DMV for others fees
I don't know about deal.
It's good or ...?
I followed to deal of aladdinprince mess #816
'2011 HONDA CRV EXL (no nav)'
I did not find what taxes he paid.(NJ 7%)
'Out of pocket $1117' does not include taxes.
My Dealer told me you pay more
because NY taxes higher than NJ taxes