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Honda CR-V Lease Questions

600 messages,  Last post on Dec 05, 2009 at 5:22 PM

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What is this discussion about? Honda CR-V, Car Leasing, Wagon, SUV

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#31 of 600 Leadership Purchase Plan by brandloyal Mar 25, 2006 (6:10 pm)
Anyone know what the difference is between buying the car at the end of a traditional lease and This   I'm just wondering if any of the depreciation/finance are any more or less during the term and if the residual rates are the same as traditional leases.... Replies to this message: Car_man (Apr 09, 2006 5:34 am) smith1 (Apr 11, 2006 8:33 am)
#32 of 600 Re: Be your own leassor [brandloyal] by blueiedgod Mar 27, 2006 (6:53 am)
Replying to: brandloyal (Mar 25, 2006 5:38 pm) blueiedgod, I realize that this post is over a month old but I'm hoping you can answer this question. I too have sold my leased cars at end of term and turned a profit. Normally, I have the buyer send the payoff to the lease company to get the title and then the lease company sends me the overpayment (profit). This process also helps me avoid the sales tax if I were to buy the car myself ahead of the sale to a buyer. Now with my Honda lease about to run out, I want to perform the same process since I have some equity in the car. The problem is, that AHFC wants me to use a dealer to act as the middleman. A potential buyer would have to pay a dealer who in turn would buy the car and then turn the title over to the new owner. This seems cumbersome to me. What did you do for your lease end buyouts?   I never leased per se. I am my own lessor and lessee. Sorry, I don't know what the procedure is with AHFC.
#33 of 600 CR-V 24/36 Numbers by rws0131 Mar 28, 2006 (9:33 am)
Does anyone happen to know the 24 and 36 month Residuals and Money Factors for a 12,000 mile a year lease? Any help would be greatly appreciated in the next day...Thanks! Replies to this message: Car_man (Apr 09, 2006 5:37 am)
#34 of 600 cr-v lx 4x4 MF + Res by wantg35c Apr 05, 2006 (5:38 am)
Car_man, looking at a lx cr-v awd, 36m 12k, what are the base mf and res for april? Thanks in advance. msrp is 22545, selling price 19799. Replies to this message: Car_man (Apr 09, 2006 5:39 am)
#35 of 600 Re: leasing 06 CRV - SE [ics88] by Car_man HOST Apr 09, 2006 (5:27 am)
Replying to: ics88 (Mar 16, 2006 8:36 am) Greetings ics88. If you were to lease a 2006 Honda CR-V SE 4WD 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 57%, respectively. I'd be happy to estimate what your payment should be on the CR-V that you are considering leasing, but in order for me to do so I need you to provide me with its full MSRP.   Sales tax is calculated differently, depending upon what state one is in. I am not personally familiar with how sales tax is calculated on leased vehicles in Texas right now, but you may be able to find out by visiting one of the following sites: Texas Department of Transportation or Texas Taxes.   Car_man Host Smart Shopper / Prices Paid Forums
#36 of 600 Re: 2006 CR-V SE Resdiual Rate [brandloyal] by Car_man HOST Apr 09, 2006 (5:30 am)
Replying to: brandloyal (Mar 25, 2006 7:16 am) Hi brandloyal. If you were to lease a 2006 Honda CR-V SE through Honda Finance right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00144 and 65%, respectively assuming that you qualify for its "Super Preferred" (have a credit score of 710 or higher) credit tier and pay a security deposit.   Car_man Host Smart Shopper / Prices Paid Forums
#37 of 600 Re: Leadership Purchase Plan [brandloyal] by Car_man HOST Apr 09, 2006 (5:34 am)
Replying to: brandloyal (Mar 25, 2006 6:10 pm) Hey brandloyal. Honda Finance's "Leadership Purchase Plan" is what is known in the industry as a balloon note program. Balloon notes are very similar to leases in that they provide consumers with low monthly payments and the option to purchase their vehicles at the end of a specific period of time for a predetermined amount of money. The main difference between leases and balloon notes is that with leases the bank's name is on your vehicle's title and with balloon notes yours is. Leases are much more popular than balloon notes. Balloon notes are really only used in states like Texas, in which for some strange reason consumers have to pay less tax on balloon notes than they do on leases.   Car_man Host Smart Shopper / Prices Paid Forums Replies to this message: smith1 (Apr 11, 2006 8:33 am)
#38 of 600 Re: CR-V 24/36 Numbers [rws0131] by Car_man HOST Apr 09, 2006 (5:37 am)
Replying to: rws0131 (Mar 28, 2006 9:33 am) Hello rws0131. Honda's residual values for the CR-V vary depending upon which exact model you are interested in, so I need you to be more specific about the truck that you want in order to tell you what its residuals should be like. I can tell you though that Honda Finance's current buy rate lease money factor for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit is .00144 for all 2006 CR-V models.   Car_man Host Smart Shopper / Prices Paid Forums
#39 of 600 Re: cr-v lx 4x4 MF + Res [wantg35c] by Car_man HOST Apr 09, 2006 (5:39 am)
Replying to: wantg35c (Apr 05, 2006 5:38 am) Here you go, wantg35c. If you were to lease an '06 CR-V LX 4WD through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00144 and 61%, respectively.   Car_man Host Smart Shopper / Prices Paid Forums
#40 of 600 Re: Leadership Purchase Plan [Car_man] by smith1 Apr 11, 2006 (8:33 am)
Replying to: Car_man (Apr 09, 2006 5:34 am) The reason balloon note financing plans such as the LPP are better from a sales tax standpoint in certain states (Texas and Illinois are two such states) is that these states collect sales tax on the full value of a leased vehicle at the onset of the lease (even though only a part of the vehicle's value is used during the lease) and then, if you buy the vehicle at the end of the lease, they collect sales tax AGAIN, on the used vehicle purchase price. Their flimsy justification for this double taxation is that there is a change of ownership and title (from lessor to lessee) when a leased vehicle is purchased by the lessee at the end of the lease. This change of ownership/title doesn't occur under the LPP therefore sales tax is not assessed a second time.   Therefore, if you live in one of the states where leases are taxed this way, AND there is a significant chance you will want to purchase the vehicle at the end of the initial term, the LPP is better than a traditional lease -- assuming that the monthly payments and buyout price are similar. The LPP has no sales tax advantage over a traditional lease if you don't buy the vehicle at the end.

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