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Honda Accord Crosstour Lease Questions

24

Comments

  • logitraxlogitrax Member Posts: 98
    edited August 2010
    Hey John!

    Sorry for the delay...I'll email you the info now, including some sedan #'s that I'd gotten from them about a week and a half back.

    Thanks!
    J
  • aarajiaaraji Member Posts: 78
    Car-Man,

    I am in Illinois - I am looking for MF and RV for the 2010 Honda Crosstour Ex-L w/ Nav (and without Nav) @ 12k miles a year.

    Looking to close this down on Sat, so please let me know when you get a chance.

    Thank you.
  • schmettleschmettle Member Posts: 1
    CarMan,

    Looking at a lease and not sure of the MF and residual due to the high miles. Looking at either 25k or 30k per year on EX-L (no Navi). With just first month payment where should I be? Also, I have roughly $700 negative equity. Tax rate here is 6.5

    Anyone else have thoughts?

    Thanks.

    Dealer is saying needs to happen before tomorrow due to end of month.
  • porlandporland Member Posts: 1
    A good deal ? 2010 AWD without nav crosstour ( roof rack, rear sensors, guards, wheel locks, side and rear trim) 15 k/ year for 419/ month (with first month payment, doc fee / tag - 915 total) in charlotte NC - cap cost 32,500 residual 19,140 MF .41
  • carmelbytheseacarmelbythesea Member Posts: 4
    Is it a 36 month lease? And does the 419 include tax? You could try getting a better price by about 1500. The extras add up to what? Otherwise sounds good.
  • mdxlesseemdxlessee Member Posts: 10
    Hi Car_Man

    I am looking to lease, in Oklahoma, a AWD EXL with Navi Crosstour (MRSP $37,000 approx.) for 36 months with 12K or 15K miles a year. I want to put nothing down. The advertised offers are for the EX. It will be wonderful to know the following: What is the residual for this model for 12K and 15K miles? Is there some incentive I could use to negotiate on the price? Is a lease quote of $485 fair? Best regards.

    Current MDX Lessee
  • pcguyspcguys Member Posts: 24
    Here in Philly,

    Got 2 quotes for a $34,000 MSRP 2010 Crosstour EX-L without NAVI (AWD).
    12k/year,
    zero down,
    just 36 payments of $399 and $410 (other dealer). INCLUDING TAX!!!

    This sounds amazing!

    I was planning on getting an outback, and I haven't determined the best outback price avail, but now I definitely have a big decision to make!

    Mike
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Dan. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Crosstour EX-L 2WD with Navigation and 12,000 miles per year are .00058 and 55%. respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow, schmettle, you certainly do a lot of driving :surprise: . I hope that you're getting satellite radio to help entertain you :) .

    15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. Consumers who need to drive more than that 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.

    Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Crosstour EX-L 2WD without navigation with 15,000 miles per year are .00058 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mdxlessee.

    Honda Finance's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Crosstour EX-L AWD with navigation and 15,000 miles per year are .00058 and 53%, 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.

    Car_man
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  • pcguyspcguys Member Posts: 24
    Thank you car_man.

    I'm not sure if I should ask it here, or in a different thread, but the 3rd (and final) car I'm thinking of is a

    Toyota Venza 3.5L v6 AWD with the $5,660comfort package (with moon roof)

    I'm dying to know how that leases given all the bad press toyota has gotten. Are they giving these things away?

    The layout of the forums confuses me a bit, but let me hunt around for a venza lease thread.

    Thanks again,
    Mike
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Mike.

    Let me know if you don't find the Venza thread and I'll be happy to point you in the right direction.

    Car_man
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  • artiefufkinartiefufkin Member Posts: 20
    Hi Car_Man,

    I was wondering if there has been any change in the lease figures for the Crosstour EX-L w/Navi 2wd and EX-L w/Navi 4wd for October. I'm looking at 36 months 12K miles.

    Thanks.
  • sellmorehondassellmorehondas Member Posts: 62
    36 months, 12k/year, $0 due, $269+ tax. Silly leases. Check it out.
  • eddie75eddie75 Member Posts: 2
    Hi car_man

    I'm interested in leasing a 2010 Crosstour EX-L AWD. 12k miles per year. The dealer is pushing a FWD and quoted a residual of 57% and a MF of .00048, both of which are great for a 2010 model. Can you tell me what the MF and residual would be if I moved up to an AWD model. Thanks.
  • artiefufkinartiefufkin Member Posts: 20
    Leased a 2010 Crosstour EX-L 2WD with Navi last weekend. Agreed upon price was $29,172. Added acquisition fee to sale price for cap cost. Monthly payment is $312 a month and I paid first/sales tax (3% of sale price)/doc fee and registration fees.

    Live in VA.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the latest information for you, artiefufkin.

    Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2010 Crosstour EX-L 2WD with Navigation and 12,000 miles per year are .00058 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2010 Crosstour EX-L 4WD with Navigation are exactly the same.

    When negotiating your lease on this car, make sure to take advantage of the $1,200 dealer cash that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Eddie. Interestingly, the numbers for the Crosstour EX-L 2WD and AWD are exactly the same.

    Car_man
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  • dmathew347dmathew347 Member Posts: 80
    Does anyone know when the 2011 Crosstours will be available for purchase. I read on a couple of places online that the 2011 will be available with a 6-speed transmission. When I went to my local dealer, the salesman was very adamant that no such change is expected, and the 2011s will not be in any showroom until February 2011, and instead tried to pressure me into a 2010.

    Does anyone know if this is correct?

    http://www.autoguide.com/auto-news/2010/05/2011-honda-accord-crosstour-to-get-im- proved-fuel-economy.html
  • artiefufkinartiefufkin Member Posts: 20
    Thanks Car_man,

    I thought those were the numbers. I actually leased the car about 10 days ago and used those to calculate my payment.
  • artiefufkinartiefufkin Member Posts: 20
    That article was based on speculation back in May on Temple of Vtec. The 2011 Crosstour will be virtually identical to the 2010.
  • keyboard21088keyboard21088 Member Posts: 20
    What was the lease price and numbers ? Can we ask?
  • artiefufkinartiefufkin Member Posts: 20
    It's posted above in post 68.
  • AXM23AXM23 Member Posts: 64
    What exactly was your total out of pocket? And your taxes are 3% of the cost of the whole car and not just the portion of the lease?

    Thanks.
  • artiefufkinartiefufkin Member Posts: 20
    edited October 2010
    Total out of pocket was $1,647.75. That amount is first month, doc fee, tax and registration fees.

    Unfortunately, VA is a state that charges sales tax on the gross sales price of the car and the doc fee regardless of whether you buy or lease.
  • AXM23AXM23 Member Posts: 64
    That is a great deal. The selling price is like $1300 under invoice after the Honda cash back. How did you manage that?
  • logitraxlogitrax Member Posts: 98
    Most likely went into holdbacks. When I got my Crosstour EX, I paid $26,000, which is $1,666 under invoice (there was $1,200 Honda incentive + $590 holdbacks).
  • robp2robp2 Member Posts: 4
    I am looking for 36 month 1 pay lease for a Crosstour AWD EXL with Nav and 12000 miles a year for November. A dealer is quoting 53% and .00001 and a price of $33,200. Is the residual and factor correct? The price sounds high based on USAA's car buying service
  • nuzbimnuzbim Member Posts: 4
    artie where did you get this deal? in VA as well, NOVA specifically.
  • artiefufkinartiefufkin Member Posts: 20
    Deal was with Pohanka in Fredericksburg. Got an initial price through Truecar from them. Before going in, I got an e-mail from the sales manager saying that the price was now lower. I brought the e-mail with me and asked what the new price was. I assumed a $200 reduction and they offered $150 which I accepted.
  • stargazer8stargazer8 Member Posts: 1
    I was offered today a lease for $349 incl. tax. 36 mths and no cash down. Crosstour EXL no nav. Alot of incentives avail price was $27500. I have never leased before. Don't even know questions to ask. this seems too good to be true. there must be a catch! They have a bunch on the lot, no black though. Said they just want to move them.
    I am in St. Pete, FL
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi robp2. The residual and money factor that you were quoted are about right. The resid is spot on and the factor is actually .00020.

    As far as the selling price goes, the dealer invoice price of this car is $33,585. If you subtract the $1,200 dealer cash that is available on it right now from that it drops to $32385. That puts you at around $800 over invoice. Given the fact that there's additional back-end money available out there, I wouldn't be surprised if you were able to beat this price by a couple hundred dollars...but it's not terrible.

    Car_man
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  • nr4pacnr4pac Member Posts: 8
    Great Info and thank you. Have a lease quote on Crosstour AWD w/Navi. 427/Month/36 Months/15,000 Miles Year. Only First Payment Due at Delivery. All fees, taxes, etc included in lease. Based on the residuals and money factor, seems like about a 32,000 negotiated price. Does this sound like pretty good deal?
  • bostonsoxfanbostonsoxfan Member Posts: 2
    Q1: Looking for a smell test from you experts out there. Looking to purchase in next few weeks. I've added $1,321 in extras. Suspect the dealer will add-on install. fee, although how much effort does it take to throw in a Cargo Tray? Quotes for vehic. plus extras and dest. charge coming in between $33,401 and $33,733 (DNI sales tax, doc fees, etc.). How much more can I push?

    Q2: I'm turning in a leased 2008 Lexus RX350 w/19,700 miles, excellent condition. $26,152 buyout. Same car w/33,000 miles is selling for $29,900 and $33,000 at used car lots. How much equity should I expect the delear to credit me on the above transaction?
  • artiefufkinartiefufkin Member Posts: 20
    With all due respect, why do you want to buy a Cargo tray? The tray is poorly designed for this car. By putting the tray in, you make it more difficult to access the storage compartments underneath the floor. You can flip the panels over to the hard surface if you want to protect that area.

    Don't be surprised if you are offered far less than the buyout for your old car. In most cases, the dealer will offer you fair book value for your car even if it's in pristine condition. And since you are leasing current car, the dealer has less incentive to buy it for top dollar since he could probably buy the same car at the auction house for much less after you turn it in.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, nr4pac. The dealer invoice price of a '10 Accord Crosstour AWD with Navigation is $33,585. When we subtract the available $1,200 dealer cash from that, it drops to $32,385. The selling price that you were quoted is right around that, so it is a good deal.

    Car_man
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  • jfn1000jfn1000 Member Posts: 40
    edited November 2010
    Carman,

    would you happen to know the money factor and residuals from Honda Financial for the 2010 Crosstour EX-L (no nav) FWD for 24 months, and both 12k & 15k miles/yr. Thanks
  • jfn1000jfn1000 Member Posts: 40
    In response to my previous post, visited the dealer today, and money factor for 2010 Crosstour EXL FWD was .0002, and residual was 61% based on 12k miles 24 month lease.

    I leased the advertised loss leader (only 1 avail in stock) at $149./ month + 999 cap reduction + 595 Acq fee + 295 doc fee + 125 title/registration + sales tax. Total down was $2270 with 23 future payments of $149 + tax.

    Dealer claims to be taking significant loss.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do, jfn1000.

    Honda Finance's November buy rate lease money factor and residual value for a 24 month lease of a 2010 Crosstour EX-L FWD with 15,000 miles per year are .00020 and 60%, 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 would be 2% higher.

    When negotiating your lease on this car, make sure to take advantage of the $1,200 cash incentive that is currently available on leases of it.

    Car_man
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  • jfn1000jfn1000 Member Posts: 40
    Soxfan, you may want to check out some of the advertised speacials dealers have in either the globe or boston.com, presuming you are in the Boston area. I leased mine for next to nothing (149 + tax, with 2270 drive away cost for 24 months for EXL 2wd, no nav) - see post above), which required a discount of approx. 8600 from MSRP. Other dealers I talked to wouldn't touch deal as my dealer in Dedham had only one 2wd EXL and was offering as a loss leader, but I would guess you could get a discount in the range of $7000 or more in establishing the base capitalized cost for the lease. By the way, all other things being equal, lowest monthly payment based on my vehicle's selling price was for a 30 month lease, followed by 24 month lease, then 36 month deal. Good luck shopping. Love the vehicle so far. Wasn't considering car until I saw the low price ad.
  • topgun7topgun7 Member Posts: 412
    $26,152 buyout. Same car w/33,000 miles is selling for $29,900 and $33,000 at used car lots. How much equity should I expect the delear to credit me on the above transaction?

    Probably not very much.. those price dealer quote on used car are not their final transaction price (so figure 2000-3000 price cut from the 29,900 to 33,000 quote as the final transaction price). Then figure some money they need to throw in to fix up the car and their profit. You can easily see 5000 to 6000 difference between dealer used car price on the lot vs what you can get selling the car yourself.. Try take your car to a couple Lexus dealers to see what price they will buy your car from... They would be the one that pay the most for a used Lexus car/suv. Good luck..
  • bostonsoxfanbostonsoxfan Member Posts: 2
    jfn1000 - my best deal so far is a 3 year lease 12K/year miles @ $298 plus tax w/$642 down + ~ $300 closing costs. I also added a bunch of extras to the car. Best I can tell the car is ~ $8,200 below MSRP; $3,000 below invoice (both are before destination fee of $780).

    Was your $2,270 a pure downpayment or were closing costs included?

    I am Boston metro.
  • jfn1000jfn1000 Member Posts: 40
    Sox fan, your deal isn't bad if you have a bunch of accessories, as they probably don't get any value towards the residual. You also have 4wd & nav that need to be partially paid off. Also, my lease worked out cheaper based on 24 months vs. 36 months for some reason (30 months was $7./month less). Anyway, here is the total breakdown of my deal:

    crosstour
    EX-l
    msrp incl dest $33,350.00
    cash $25,325.57
    ($999.00) down paid up front
    ($595.00) acq. Fee paid up front
    Adj cap cost $23,731.57
    residual $20,343.50
    money factor 0.0002
    deprec $3,388.07 (equal to adj. cap cost - residual)
    lease fee $8.82 (monthly interest in lease)
    principal $141.17 (monthly principal 24 months)
    Total monthly $149.98
    6.25% sales tax $9.37
    Total monthly $159.36

    Paid up front:
    $999.00 down paid up front
    $595.00 acq. Fee paid up front
    $99.63 Tax on down pmt + acq fee
    $293.00 doc fee
    $125.00 title & reg
    $159.36 1st pmt
    $2,270.99
  • steevosteevo Member Posts: 389
    Why pay the 999 up front? Or at all for that matter?
    The doc fee is way too high. Obviously that is how this dealer makes the discount seem even bigger than it is.
    But even if you rolled it all in, the lease is still less than 300 a month which seems pretty cheap for this level of car.
    Kinda fugly, but for 24 months I might give one a look :D
  • jpautojpauto Member Posts: 11
    Hi Car_man,

    Wondering if you could post the December residuals and money factors for the crosstour - 4WD EX-L (with and w/o NAV). Thinking of 36 months and 12k per year. Also please post if there is a different length of lease that jumps out as a great deal.

    And any word on the 2011's yet?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello jpauto. Honda Finance's December buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Crosstour EX-L 4WD with 12,000 miles per year are .00020 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda isn't providing any lease support on the 2011 Crosstour yet, so you probably don't want to lease one of those right now.

    Car_man
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  • aitrus03aitrus03 Member Posts: 20
    Hi Car_man,

    How about the 2010 EX-L 2wd 12k 36month lease?
  • tex18tex18 Member Posts: 82
    Are buyers really getting $6K-7k off MSRP on Crosstours?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited December 2010
    Hi aitrus03. Honda Finance's December buy rate lease money factor and residual value for a 36 month lease of a 2010 Accord Crosstour EX-L 2WD with 12,000 miles per year are .00020 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your lease on this vehicle, make sure to take advantage of the $1,200 dealer cash and $500 bonus cash ($1,700 total) that are currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey tex18. If you;re talking about a 2010 model, I would think that one could easily get one for close to dealer invoice minus the available $1,700 in cash incentives that are currently available on it.

    You can look up the exact invoice price and how much of a discount off of MSRP it represents over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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