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2014 Honda CR-V Lease Questions

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  • vs77vs77 Member Posts: 24

    looking to lease a 2014 EX-L - 12K - what can i expect as residual, MF and Sale Price? what is the residual for 10K?

  • kyfdxkyfdx Moderator Posts: 235,175

    @vs77 said:
    looking to lease a 2014 EX-L - 12K - what can i expect as residual, MF and Sale Price? what is the residual for 10K?

    .00056 MF and 58% residual for 2WD. $500 lease cash. I don't show a 10K/yr option, but if available, the residual would be 1% higher.

    Try the CR-V Prices Paid discussion for expected sale prices.

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  • tusharvktusharvk Member Posts: 9

    so trying to compare the option provided by dealer vs edmunds calculator.
    I am looking for cr-v awd. Edmunds calculator shows 36 payments of 383/month+500 security deposit. So, cost to lease for 36 months = 13788. I used 55% residual value of the TMV
    Dealer offer: 70 down+36 payments of 249. cost fo lease 36 months = 9723
    My own calculation is as below: KBB value for honda cr-v 2014 is around 23k
    kbb value for used cr-v 2012 with 30 k miles 20k. This gives a good estimate of residual value of a 2014 cr-v in 2 years.
    So, the lease payments = 1/24*(23-20)k =125$/month.
    The dealer offer for 24 month lease is 340 $/month. why the discrepancy

  • kyfdxkyfdx Moderator Posts: 235,175

    Apples and oranges.. Plus, you buy at retail, but residual is at wholesale. (In other words, you'll have a pretty hard time buying a CR-V for $23K and trading it in for $20K in two years).

    Also, lease payments have finance charges built in... Don't see any accounting for finance charges in your own estimates. Also, no point in guessing the residual. The bank is already telling you the residual they are willing to assign. If you think it should be substantially higher than that, you should purchase, rather than lease.

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  • tusharvktusharvk Member Posts: 9

    ok. That makes sense.
    So the dealer gave me 22.5k as the sales price (1k below invoice). Residual is 15.5k in 3 years.
    The lease is 700 down and 35 payments of 249 including everything. MF was not disclosed.
    So, is this a good deal for a lease?
    I am hung up on the residual. That value is so much lower than the sales value of 2-3 year old honda cr-v. The dealer says this number is coming from honda and they have already given me 1k below invoice, so will not move the 22.5k number. Any inputs?

  • kyfdxkyfdx Moderator Posts: 235,175

    @tusharvk said:
    ok. That makes sense.
    So the dealer gave me 22.5k as the sales price (1k below invoice). Residual is 15.5k in 3 years.
    The lease is 700 down and 35 payments of 249 including everything. MF was not disclosed.
    So, is this a good deal for a lease?
    I am hung up on the residual. That value is so much lower than the sales value of 2-3 year old honda cr-v. The dealer says this number is coming from honda and they have already given me 1k below invoice, so will not move the 22.5k number. Any inputs?

    $250/mo. is cheap..

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  • stark32stark32 Member Posts: 2

    Does anyone know the MF and residual on a CR-V LX AWD, 36 mos lease, 12k per?

    A dealership in MA is offering this model and conditions for $29 down and $189 per month. Without knowing the residual and MF, it still seems like a very solid deal, wondering if others agree?

    Thanks!

  • MichaellMichaell Moderator Posts: 240,057

    @stark32 said:
    Does anyone know the MF and residual on a CR-V LX AWD, 36 mos lease, 12k per?

    A dealership in MA is offering this model and conditions for $29 down and $189 per month. Without knowing the residual and MF, it still seems like a very solid deal, wondering if others agree?

    Thanks!

    62% residual, .00049 MF.

    What are the MSRP and selling price of the sale unit?

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  • stark32stark32 Member Posts: 2

    Thanks Michael! MSRP is $25,025. Sale price of the unit is not stated, but working backwards with the MF and residual, you provided, it looks to be $20,725, which is below what Edmunds shows at the TMV ($23,856) and what Truecar is showing to be an available price in my area ($22,023, reported as unusually low). Bank and doc fees look to be about $900 total, which appears to be fairly standard in the area. Seems like a deal, unless I'm missing something.

  • MichaellMichaell Moderator Posts: 240,057

    @stark32 said:
    Thanks Michael! MSRP is $25,025. Sale price of the unit is not stated, but working backwards with the MF and residual, you provided, it looks to be $20,725, which is below what Edmunds shows at the TMV ($23,856) and what Truecar is showing to be an available price in my area ($22,023, reported as unusually low). Bank and doc fees look to be about $900 total, which appears to be fairly standard in the area. Seems like a deal, unless I'm missing something.

    Gosh, $25K for $189/mo? That is a great deal.

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  • e46guye46guy Member Posts: 63

    Do you have the MF and residuals for UT on AWD LX, EX and EX-L, 12K/36. Thanks in advance.

  • kyfdxkyfdx Moderator Posts: 235,175
    edited May 2014

    @e46guy said:
    Do you have the MF and residuals for UT on AWD LX, EX and EX-L, 12K/36. Thanks in advance.

    Utah is in Region B, and has an MF of .00089

    Residuals are 62%/62%/60%. $750 lease cash

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  • skyqueenskyqueen Member Posts: 2

    Hi, Do you have the MF and residuals for AWD EX-L 12k/36mo in NJ?

  • kyfdxkyfdx Moderator Posts: 235,175

    @skyqueen said:
    Hi, Do you have the MF and residuals for AWD EX-L 12k/36mo in NJ?

    .00049 MF and 60% residual. $750 lease cash.

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  • johnpitjohnpit Member Posts: 9
    edited May 2014

    Looking at a CR-V EX AWD in Wisconsin---Msrp is $27,125....dealer wrote up "agreed value"-$24,984 then it says additional gross cap $744 (what is this $744 added on? doesn't say) for net cap cost of $25,728....MF=00049....residual 62.00 ($16,817) 3 yr lease 12,000 miles for $268 plus $15 tax=$283 x 35 months...no money down except first payment due at signing....Does this sound like a pretty good deal? If not, what should I work on them lowering besides lowing the price? Thanks

  • kyfdxkyfdx Moderator Posts: 235,175

    @johnpit said:
    Looking at a CR-V EX AWD in Wisconsin---Msrp is $27,125....dealer wrote up "agreed value"-$24,984 then it says additional gross cap $744 (what is this $744 added on? doesn't say) for net cap cost of $25,728....MF=00049....residual 62.00 ($16,817) 3 yr lease 12,000 miles for $268 plus $15 tax=$283 x 35 months...no money down except first payment due at signing....Does this sound like a pretty good deal? If not, what should I work on them lowering besides lowing the price? Thanks

    Those are all the correct numbers. The $744? $595 of it is the acquisition fee. I'll guess that the other $149 is title/license fees. (they have to be somewhere, because you aren't paying them at signing).

    The calculations are right on the money.. The only way to go lower is a lower selling price.. There is $750 lease cash included in their discount, so the dealer discount is actually around $1400. It's certainly a low lease payment, relative to the MSRP. Is the selling price a good deal? I'm not sure. You can check to see what others are paying, here:

    http://forums.edmunds.com/discussion/16720/honda/x/2014-honda-cr-v-prices-paid-and-buying-experiences#latest

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  • vs77vs77 Member Posts: 24
    What is the mf and residual for a exl awd crv for il / Chicago region for 10k and 12k pa.
  • kyfdxkyfdx Moderator Posts: 235,175

    @vs77 said:
    What is the mf and residual for a exl awd crv for il / Chicago region for 10k and 12k pa.

    .00049 MF and 60% residual. $750 lease cash.. 36mo, 12K/yr.

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  • vs77vs77 Member Posts: 24

    thanks. i have recd the following quote for a EX-L AWD for 3 yr - 36K:
    MSRP - 29755 Sales price: 25,722. Residual: 17,865 MF: 0.0049
    Monthly payment: 258 First payment (TTL + first monthly payment): 2,486 (tax ~ 7.25%)

    is this a good price? can i do better?

    i don't think he has included the 750$ lease cash into this. dealer pt is that he has given all in the sales price hence marked it down so much

  • kyfdxkyfdx Moderator Posts: 235,175

    Well.. the $750 lease cash is technically a dealer incentive.. so, any price they give you has it included... you just have to decide if that's a good price, considering that incentive.

    That looks like a pretty good deal, but it makes me glad I don't have to pay Illinois taxes on a lease. You can check the Prices Paid discussion for an idea of what others are paying. Just keep in mind that the incentive on a purchase is only $500, not $750.

    That discussion is here:

    http://forums.edmunds.com/discussion/16720/honda/x/2014-honda-cr-v-prices-paid-and-buying-experiences#latest

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  • tusharvktusharvk Member Posts: 9

    leased cr-v lx awd with 700 down and 35 payments 242. other dealers in the area did not offer to beat this deal. location indiana

  • johnpitjohnpit Member Posts: 9

    This may be a dumb question but do you have to pay state tax up front on a Lease? I know they quoted me $14.76 tax on a monthly lease of $268.....Don't you pay the tax at the end IF you purchase vehicle? Also...Working on a Lease...I currently recv'd a price of $24,400 for the CR-V EX* from another different dealer (in WI-see my post above). I'm wondering if this will lower my monthly payment of $268 from the last price offered of $25,728? They have a way of tweaking the numbers...we shall see when he sends me the monthly payment amount. This would be a great deal wouldn't it? Wonder if they change the residual % or amount higher on me to recoup more money on the back end? What trap should I watch out for if my monthly payment isn't any lower at the $24,400 price? Thanks

  • kyfdxkyfdx Moderator Posts: 235,175

    They can't change the residual, and I haven't seen a Honda dealer markup the money factor. They can play with the price, though ("Oh, that doesn't include destination").

    States tax leases in different ways.. I'm pretty sure that Wisconsin is a "tax the payment" state, which is what you want. Yes, if you buy the car out at the end of lease, you pay tax on it... but, that tax is just on the buyout price.

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  • johngtjohngt Member Posts: 19

    What is the June money factor and residual on a 2014 EX-L, 15k miles/year lease?
    Thank you!

  • MichaellMichaell Moderator Posts: 240,057
    edited June 2014

    @johngt said:
    What is the June money factor and residual on a 2014 EX-L, 15k miles/year lease?
    Thank you!

    2WD or 4WD? What lease term?

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  • johngtjohngt Member Posts: 19
    edited June 2014

    Sorry. This would be 36 months on a 4WD model. Location is Ohio.
    Is the lease cash incentive still in effect?

  • MichaellMichaell Moderator Posts: 240,057

    @johngt said:
    What is the June money factor and residual on a 2014 EX-L, 15k miles/year lease? Thank you! > This would be 36 months on a 4WD model. Location is Ohio.
    Is the lease cash incentive still in effect?

    With nav, 57%, without nav 58%.

    MF is .00049 with $750 lease cash.

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  • gotbirdflugotbirdflu Member Posts: 1

    Looking to lease a 2014 EX-L AWD (without DVD or Satellite Nav) in NJ with $0 down 18K a year/3yrs ASAP. Top tier credit. Any help as to a great monthly amount/dealership greatly appreciated.

  • MichaellMichaell Moderator Posts: 240,057

    @gotbirdflu said:
    Looking to lease a 2014 EX-L AWD (without DVD or Satellite Nav) in NJ with $0 down 18K a year/3yrs ASAP. Top tier credit. Any help as to a great monthly amount/dealership greatly appreciated.

    Doesn't look like Honda sponsors 18K leases. See above posts for 36/15 lease terms.

    We would need to know both the MSRP and negotiated cap cost in order to calculate a payment.

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  • abkmaabkma Member Posts: 2

    We've narrowed down our choices to CRV EX-L AWD and a Subaru Forester 2.5i Touring. We're leaning for the CRV because inventory is more readily available and pricing seem to be more negotiable. We'll be leasing for the first time, and the Edmunds information has been so helpful. For Illinois, are the May deals that were in an earlier post still active (60% residual, .0049 MF, and $750 rebate cash) or have they changed for June?

  • kyfdxkyfdx Moderator Posts: 235,175

    Numbers haven't changed... the last update to Honda numbers was May 12th... they are good through July 7th.

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  • MichaellMichaell Moderator Posts: 240,057

    @abkma said:
    We've narrowed down our choices to CRV EX-L AWD and a Subaru Forester 2.5i Touring. We're leaning for the CRV because inventory is more readily available and pricing seem to be more negotiable. We'll be leasing for the first time, and the Edmunds information has been so helpful. For Illinois, are the May deals that were in an earlier post still active (60% residual, .0049 MF, and $750 rebate cash) or have they changed for June?

    You didn't specify the lease term or miles per year, so I'll assume 36mo and 15K - residual is 58% and the MF is .00049 with $750 lease cash.

    Add 2% for 12K, and 3% for 10K per year.

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  • abkmaabkma Member Posts: 2

    Thank you! I got a slightly better deal than the Honda website calculator numbers, so I'm feeling pretty good about it. It was also pretty quick because they knew I had solid information to work from. I wouldn't have known about the lease cash without this forum. We are picking up the CR-V on Monday!

  • cheburchebur Member Posts: 1

    Does anyone have the MF and residuals for CR-V EXL with Nav for NY for 10 and 12.5 K. Thanks!

  • johnpitjohnpit Member Posts: 9

    Is the MF and Residual for WI the same on a CR-V EX or a CR-V EXL 3 yr/12,000....was at .00049 and 61% for the EX....is it the same for the EXL? Will the negotiations be similar on both, such as trying to get $1000-$1700 below invoice price? Thanks

  • kyfdxkyfdx Moderator Posts: 235,175
    edited June 2014

    @chebur said:
    Does anyone have the MF and residuals for CR-V EXL with Nav for NY for 10 and 12.5 K. Thanks!

    AWD? .00049 MF and 60% for 36mo, 10K/yr. $750 lease cash

    There is no 12.5K/yr program, but the 12K/yr residual is 1% lower.

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  • kyfdxkyfdx Moderator Posts: 235,175

    @johnpit said:
    Is the MF and Residual for WI the same on a CR-V EX or a CR-V EXL 3 yr/12,000....was at .00049 and 61% for the EX....is it the same for the EXL? Will the negotiations be similar on both, such as trying to get $1000-$1700 below invoice price? Thanks

    EX AWD: .00049 MF and 62% residual for 36mo, 12K/yr.

    EX-L AWD: .00049 MF and 60% residual for 36mo, 12K/yr.

    Negotiations should be similar... with maybe a little bigger discount from MSRP for the EX-L (as it's higher priced)

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  • johnpitjohnpit Member Posts: 9

    Working on lease for CR-V EX with msrp of $27,125.........From one dealer per numerous emails negotiating the price: "Msrp is $27,125 Sale Price $24,800 (incls destination fee) then figuring in 5.5% taxes and our doc fee of $259 your lease payment would be $282 monthly ($282 plus plates($89 transfer or $164 new plates) due at signing. This is based on a .00047 MF (did he mean .00049?), 62% residual, and buyout is $16,817.50.........Another dealer wrote up: Net cap cost $25,728, .00049 MF & 62% residual....both said $16,817.50 as buyout & both said lease is $282 per month.....This is on a 3 yr/12,000 lease.....Question is.....There is a price difference between the two of them of $928 so how can the lease amount be the same and the residual same?? What am I missing? Maybe the dealer did lower the MF to .00047**....Can someone help me out here please....Thanks

  • kyfdxkyfdx Moderator Posts: 235,175

    @johnpit said:
    Working on lease for CR-V EX with msrp of $27,125.........From one dealer per numerous emails negotiating the price: "Msrp is $27,125 Sale Price $24,800 (incls destination fee) then figuring in 5.5% taxes and our doc fee of $259 your lease payment would be $282 monthly ($282 plus plates($89 transfer or $164 new plates) due at signing. This is based on a .00047 MF (did he mean .00049?), 62% residual, and buyout is $16,817.50.........Another dealer wrote up: Net cap cost $25,728, .00049 MF & 62% residual....both said $16,817.50 as buyout & both said lease is $282 per month.....This is on a 3 yr/12,000 lease.....Question is.....There is a price difference between the two of them of $928 so how can the lease amount be the same and the residual same?? What am I missing? Maybe the dealer did lower the MF to .00047**....Can someone help me out here please....Thanks

    Your first dealer didn't give you the CAP cost, just the selling price. There is a $595 acquisition fee. I would guess that the .00047 is a typo, and either way, that wouldn't affect the monthly by more than just cents per month.

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  • kingfrog721kingfrog721 Member Posts: 2

    Leased the CRV White Pearl EX-L with NAV Mats, Cargo cover,mop and Glo, door protectors, Wheel locks, striping and tint.

    Terms
    MSRP $30025
    Price $27114.19
    Sales/ Use Tax $283 (Double TAX?)
    Licence Fee $39
    DOC Fee $384
    Aquisition Fee $595
    Reg Free $43.00

    Gross Cap Cost 28458.19

    Amount Due
    $340 Cap reduction
    $17 Sales Tax
    1st Payment $327
    TOTAL $684 DOWN

    $28454.19 Gross Cap Cost
    Cap Cost reduction $340

    Residual Value
    $17818
    Depreciation $10319

    "Rent" Charge $1471.88 (** Does this cover the entire cost of the car? Seemed high for a .00089 MF)**

    Base Payments $11771.87

    Monthly payment $327

    Seemed like a good deal but the interest rate seems high, They came back with a higher residual and cap cost. I made them drop it to what I agreed to over the phone, I don;t know why the residual changed from$18858 to $17818 unless they tried to play with numbers and get more "profit at the end of the deal. I thought the MF and residual was always the same on Honda leases

    Is the payoff on a lease the total of payments plus the residual? Anything else. I won;t have 16K miles on this after three years so I won't be turning it in , rather I will sell it myself.

    Cap Cost reduction $340

  • MichaellMichaell Moderator Posts: 240,057

    @kingfrog721 said:
    Leased the CRV White Pearl EX-L with NAV Mats, Cargo cover,mop and Glo, door protectors, Wheel locks, striping and tint.

    Terms
    MSRP $30025
    Price $27114.19
    Sales/ Use Tax $283 (Double TAX?)
    Licence Fee $39
    DOC Fee $384
    Aquisition Fee $595
    Reg Free $43.00

    Gross Cap Cost 28458.19

    Amount Due
    $340 Cap reduction
    $17 Sales Tax
    1st Payment $327
    TOTAL $684 DOWN

    $28454.19 Gross Cap Cost
    Cap Cost reduction $340

    Residual Value
    $17818
    Depreciation $10319

    "Rent" Charge $1471.88 (** Does this cover the entire cost of the car? Seemed high for a .00089 MF)**

    Base Payments $11771.87

    Monthly payment $327

    Seemed like a good deal but the interest rate seems high, They came back with a higher residual and cap cost. I made them drop it to what I agreed to over the phone, I don;t know why the residual changed from$18858 to $17818 unless they tried to play with numbers and get more "profit at the end of the deal. I thought the MF and residual was always the same on Honda leases

    Is the payoff on a lease the total of payments plus the residual? Anything else. I won;t have 16K miles on this after three years so I won't be turning it in , rather I will sell it myself.

    Cap Cost reduction $340

    What is the lease term and miles per year?

    MF of .00089 is the base MF for region B states. Residual cannot be modified by the dealer, but they can use a finance company different than Honda Finance - if that is the case, we don't have any way to confirm the numbers.

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  • paulinnypaulinny Member Posts: 2

    I am currently pricing a lease on a 2014, Honda, CRV EX-L, in New York.

    Lease term is 36 months, 12,000 miles per year. Price I was given was $294/month. Was told it was based on invoice minus $750.

    No money down, except paying the first payment, bank fee and DMV fees (which I was told are $1,046.

    Is this a good lease price? Any help would be greatly appreciated!

    (ALSO- I was told by dealer that they do not include any scheduled maintenance or give loaner cars. Is this common practice to not include these things?)

  • kyfdxkyfdx Moderator Posts: 235,175

    Do you have the MSRP of the vehicle?

    Very few Honda dealers provide free loaners. Honda does not pay for any scheduled maintenance, either, though I've never found it to be very expensive.

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  • kacoblackkacoblack Member Posts: 3

    hi, i have this question regarding how much can i put down for a car lease. i want to lease a CRV EXL and i was quoted 27625 for the car. i have a trade for which they offered 16900 and i still owed 7000 on my car. i told them to use the remaining cash for the lease after they pay what i owed on the old car. i was told that it was not possible because of the high amount. therefore they will send me a check for 3,000 dollars and use the rest in the lease. does this sound right?

    im in new york. leasing 36 month 12k miles/year payments $200/month

  • kacoblackkacoblack Member Posts: 3

    also, i meant to say that they will first pay what owed, send me a check for 3k dollars, and use the rest for the lease. i will end up paying about $200 a month for the next 36 months.

  • MichaellMichaell Moderator Posts: 240,057

    @kacoblack said:
    also, i meant to say that they will first pay what owed, send me a check for 3k dollars, and use the rest for the lease. i will end up paying about $200 a month for the next 36 months.

    We do not recommend making a down payment (or using trade equity) on a lease - if the car is stolen or totaled, you are out that money.

    You are better off having the dealer give you a check for the entire amount of equity, then use that money to help make your monthly payments.

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  • kacoblackkacoblack Member Posts: 3
    Thank you Michaell. I will do that then.
  • hagglemanhaggleman Member Posts: 12

    Can anyone explain why a one time lease payment through Honda financial services would not be a good idea? Thanks,

  • kyfdxkyfdx Moderator Posts: 235,175

    @haggleman said:
    Can anyone explain why a one time lease payment through Honda financial services would not be a good idea? Thanks,

    A lot of it would depend on what kind of discount you would get for doing a single-payment lease. Otherwise, no issues.

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  • hagglemanhaggleman Member Posts: 12

    Thanks! What kind of discount should I be looking for and apprx how much is typical?

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