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Honda CR-V Lease Questions

582 messages,  Last post on Nov 21, 2009 at 6:19 PM

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

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#414 of 582 I didn't do my homework before going to the dealership, is my lease bad? by bk_metro Dec 29, 2008 (2:30 pm)
I brought my 2005 CRV- EX 4WD to the dealer to see what kind of deal I could get. It was in a major accident 2 years ago (hit by drunk driver while parked) that cost about $15,000 to fix. The car was only 2 years old at that point and really hasn't been right since. The dealer offered me $11,000 on the car (less the $8000 left on note) which I used for a down payment on a new lease for a 2009 CRV-EX-L 4WD. I've never leased before and wasn't entirely clear on what I was getting into.   The agreed upon value of the new car is $28,480.26 (includes $600 for alarm system). Including taxes and everything I'm paying $441 for 48 months. From what I've looked at online, it's not the worst deal, but definitely not the best. Any thoughts? The residual value is $14160 and the money factor is .0036. I live in NYC so the sales tax is 8.25% Replies to this message: bigdadi118 (Dec 29, 2008 3:09 pm) blueiedgod (Jan 08, 2009 9:49 am) phisher (Jan 16, 2009 7:32 am)
#415 of 582 Re: I didn't do my homework before going to the dealership, is my lease bad? [bk_metro] by bigdadi118 Dec 29, 2008 (3:09 pm)
Replying to: bk_metro (Dec 29, 2008 2:30 pm) money factor is .0036 is surely high   alram system 600 can be negotiated down to 350... I told the Finance guy I can get a Lojack for 500 he immediately offer me 350 if I take it now.
#416 of 582 CRV Lease Deals by dean27 Dec 29, 2008 (9:21 pm)
Honda is offering this lease below: is if this is a good deal and if so, can I negotiate a better deal? IF so, how? I'm ready to lease any day now. Thanks for your help!    2009 CR-V Featured Standard Lease $249.00 per month for 36 months. $2,999.00 total due at signing. Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers. [Show Details] Show Details Request a Quote FEATURED LEASE: Closed-end lease for 2009 CR-V 2WD LX Automatic Transmission (Model RE3839EW) for $249.00 per month for 36 months with a $2,155.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,999.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee, capitalized cost reduction, with no security deposit. Security deposit waived in featured lease example. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify. Replies to this message: ilovecoasters (Dec 30, 2008 8:14 am) Car_man (Jan 07, 2009 3:28 am)
#417 of 582 New Lease by ilovecoasters Dec 30, 2008 (8:14 am)
Replying to: dean27 (Dec 29, 2008 9:21 pm) How did I do? Just leased a 09 crv-ex for $397 in Central Florida. 39 months, 15,000 miles per year with 0 out of pocket cost. 12,000 miles just was not enough for the commuting I do. They also paid off my last 3 payments on my old lease and paid the first payment on the new lease.
#418 of 582 NEW Lease promotions by sassydog Jan 04, 2009 (10:31 am)
I know that all companies have new "dealer help" come new year time.....If anyone finds out what the leases look like for 2009 Jan...please post...Should be out this coming Monday   HONDA CRV- EXL Replies to this message: Car_man (Jan 07, 2009 3:33 am) sassydog (Jan 08, 2009 6:57 am) Car_man (Jan 16, 2009 2:56 am)
#419 of 582 Re: CRV Lease Deals [dean27] by Car_man HOST Jan 07, 2009 (3:28 am)
Replying to: dean27 (Dec 29, 2008 9:21 pm) Hi dean27. Savvy consumers who live in an area that has a decent level of competition are almost always able to negotiate lower selling prices than the ones that manufacturers' official advertised lease payments are based upon. If I was in the market for a 2009 CR-V right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice, which would essentially be right at or slightly under invoice once the $500 dealer cash that Honda is currently providing on this model is taken into account. A lease based on this price would have a lower lease payment than the one that is being touted in the ad that you mentioned.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#420 of 582 Re: NEW Lease promotions [sassydog] by Car_man HOST Jan 07, 2009 (3:33 am)
Replying to: sassydog (Jan 04, 2009 10:31 am) Hi sassydog. Honda introduced a new $500 dealer cash incentive on the 2009 CR-V in January. Taking this cash into account, I would not be surprised if one was able to negotiate a capitalized cost that's at, or even slightly below dealer invoice for a lease right now.   Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda CR-V EX-L 4WD with 15,000 miles per year are .00280 and 57%, respectively.   Good luck in your quest for a new ride and let us know if you have any other questions.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: sassydog (Jan 08, 2009 6:57 am) Car_man (Jan 16, 2009 2:56 am)
#421 of 582 Re: NEW Lease promotions [Car_man] by sassydog Jan 08, 2009 (6:57 am)
Replying to: Car_man (Jan 07, 2009 3:33 am) Carman is that a good rate lease money factor? Replies to this message: Car_man (Jan 16, 2009 2:56 am)
#422 of 582 Re: I didn't do my homework before going to the dealership, is my lease bad? [bk_metro] by blueiedgod Jan 08, 2009 (9:49 am)
Replying to: bk_metro (Dec 29, 2008 2:30 pm) I brought my 2005 CRV- EX 4WD to the dealer to see what kind of deal I could get. It was in a major accident 2 years ago (hit by drunk driver while parked) that cost about $15,000 to fix. The car was only 2 years old at that point and really hasn't been right since. The dealer offered me $11,000 on the car (less the $8000 left on note) which I used for a down payment on a new lease for a 2009 CRV-EX-L 4WD. I've never leased before and wasn't entirely clear on what I was getting into.    The agreed upon value of the new car is $28,480.26 (includes $600 for alarm system). Including taxes and everything I'm paying $441 for 48 months. From what I've looked at online, it's not the worst deal, but definitely not the best. Any thoughts? The residual value is $14160 and the money factor is .0036. I live in NYC so the sales tax is 8.25%   Ouch!!!!   $441x48 =21168 + $3000 down ($11,000 for 05 CR-V - $8,000 owed) = $24,168 in payments over 4 years for a $28,480 agreed upon price.   Factor in the $14,160 residual and you have effectively paid $38,328 for the vehicle.   The worst part is that after 4 years and $24,168 in payments, you have no vehicle!!!   $441/month with $3,000 down on a 4 year lease is luxury vehicle territory. Replies to this message: phisher (Jan 16, 2009 7:32 am)
#423 of 582 Re: NEW Lease promotions [sassydog] by Car_man HOST Jan 16, 2009 (2:56 am)
Replying to: sassydog (Jan 08, 2009 6:57 am) Not particularly. .00280 isn't bad, particularly when it is combined with solid residual values, but it's equivalent to an interest rate of around 6.7%. Many manufacturers have money factors that are much lower than that.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum

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