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Honda CR-V Lease Questions

1230 messages,  Last post on May 22, 2013 at 4:13 PM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

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

Messages Page 74 of 124

#725 of 1230 Re: mf and residual [colleen178] by oppielight

Jul 11, 2010 (8:56 am)

Replying to: colleen178 (Jul 10, 2010 9:48 am)
I just leased a 2010 ex-l yesterday (july 10). I traded in my 2007 honda pilot lx with 29000 miles. The payoff was 15,611 and they gave me 16500. So, that was a credit of 889 towards my lease (not sure how that played into my lease). The mf for excellent credit is currently .00137 (ahfc) and the residual for 36 month 12K mile lease is 58% of MSRP = 15819.50. The MSRP is 27275 (includes 780 dest fee). My agreed upon value of CRV ex-l was 25407.32 then add in lease acquistion fee of $595 (set by honda) and my GROS CAP COST was 26003.32. CAP reduction of 392.47 brought by adjusted cap cost to 25610.85 (used in calcing base monthly). So, my base monthly lease payment is 328.74 and after tax it's 357.50. The only cash I gave them to drive off was my first months payment of 357.50.
 
Hope that helps.

#726 of 1230 Re: mf and residual [oppielight] by delta737h

Jul 11, 2010 (9:15 am)

Replying to: oppielight (Jul 11, 2010 8:56 am)
oppielight,
 
Your 889 trade credit should have been used as a non-taxable cap reduction. I see that only 392.47 was used to reduce the gross cap. This seems like an odd-ball amount... where did that come from? It looks like a calculated number. And, what happened to the 889 net trade-in credit? It doesn't appear to have factored into the lease. If not, your base payment should be 302.83 which is 25.91 less per month... that's a fairly significant peice of change!
 
And, please, don't let the dealer tell you that they deducted it from the sell price to get the Agreed Upon Value of 25,407.32 because that's not going to fly at all. Trade credits should be itemized and disclosed in the lease agreement.
 
John

#727 of 1230 Re: mf and residual [delta737h] by oppielight

Jul 11, 2010 (10:51 am)

Replying to: delta737h (Jul 11, 2010 9:15 am)
I thought there was something funny there. But I didn't notice until after I got home. I was super cautious while I was there but I still got the feeling something was amiss. I appreciate you noticing. I thought I caught everything but I guess not. This is the 2nd time i've leased. I was determined not to get hoodwinked this time but I may have. Is it possible to send you a copy of my lease agreement. Maybe you can tell me what kind of shenanigans they pulled. I don't know if I will have any recourse but it will be good knowledge for 3 years from now. http://docs.google.com/fileview?id=0B3UydSp_cf0XYTdmYTBkMmItYzcwMS00ZTIzLWJhMWEt- YzI4NWUyNzc0ZWIw&hl=en&authkey=CJiewa4N
 
Please cut and paste link to see my lease doc. If this in inappropriate I apologize. I will remove the doc from online as soon as you let me know you have looked at it. Thank you in advance for you input and time.

#728 of 1230 Re: mf and residual [oppielight] by oppielight

Jul 11, 2010 (2:03 pm)

Replying to: oppielight (Jul 11, 2010 10:51 am)
I figured out the discrepancy - which wasn't a discrepancy at all. The cost of fees leads to 825.19. The difference between what I owed in fees and the sum of my trade in equity and cash down is 392.47+34.34(tax). The 392.47 was my cap reduction after paying fees/taxes. I think all is well. Thanks John.

#729 of 1230 Re: mf and residual [oppielight] by delta737h

Jul 11, 2010 (5:34 pm)

Replying to: oppielight (Jul 11, 2010 2:03 pm)
Okay, great!
 
Good luck!
 
John

#730 of 1230 Re: mf and residual [cnote2] by Car_man HOST

Jul 15, 2010 (3:20 am)

Replying to: cnote2 (Jul 08, 2010 7:09 pm)
Hi cnote2. You definitely are better off going with a 36-month lease over a 39-month lease. Honda's lease support on most models is only available for up to 36 months.
 
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Honda CR-V EX-L AWD with 15,000 miles per year are .00137 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
 
If you add navigation to this truck, its money factor is the same, but its residual value drops by 1%.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#731 of 1230 crv lx lease by anne28

Jul 16, 2010 (12:28 pm)

I just leased a CRV LX in Urban Titanium Metallic for 36 months, 12,000 miles. The sales Price was $21,000, monthly payments are $273 Plus tax (9.75% in California) and I put down First month's payment plus DMV fees, which came to $688. The first dealer I went to only had the LX in black on the lot and was going to charge me $600 more to get the color I wanted. So I went to another dealer who had all colors in stock for the same price. But I am still wondering if I could have done better.

#732 of 1230 CRV EX lease by veno12

Jul 17, 2010 (1:47 pm)

How does this lease deal sound? 2010 crv ex 4wd 36 month lease, 2500.00 down, 15,000 mile allowance--$280.00 a month. It seems a little high, but I like the car! Anybody care to opine? Thanks Alot

#733 of 1230 CRV Lease by colleen178

Jul 27, 2010 (7:55 pm)

I'm getting ready to buy or trade my 2007 CRV EX lease. Can someone tell me if the lease deal I made was good in 2007 and should I buy this car or trade for a new one. Thanks so much for any help. Not sure what info you need so excuse me if I give you too much.
 
$24,595 Cap Cost
 $3676 Cap Reduction
$20,918 Adj Cap Cost
$15,279 Residual Value
$5638 Depreciation
$3609 Rent Charge
$9547 Total Payments
$265 for 36 Months
 
Itemization amount due at lease signing.
 
$3676.84 Cap Cost Reduction
$294.15 Sales Tax on Amount Paid in Cash/Downpayment
$265.21 1st Payment
$71.25 Reg Fee
$12.50 NY Waste Tire Fee
$45.00 Doc Fee
$763.80 Sales Tax/Upfront Tax
$5128.75 Total
 
Trade in was a paid in full car that they gave me $5128.75 so I walked out of the Honda dealer with a new car and no money out of my pocket. Was this a good deal or did I get ripped somehow? I was so happy with a $265 payment I'm not sure I paid as much attention to the deal as I should have. Now that I am ready to buy this car or trade it I want to be very well prepared. Thanks again for any and all help.

#734 of 1230 Re: CRV Lease [colleen178] by blueiedgod

Jul 28, 2010 (9:43 am)

Replying to: colleen178 (Jul 27, 2010 7:55 pm)
Trade in was a paid in full car that they gave me $5128.75 so I walked out of the Honda dealer with a new car and no money out of my pocket. Was this a good deal or did I get ripped somehow? I was so happy with a $265 payment I'm not sure I paid as much attention to the deal as I should have. Now that I am ready to buy this car or trade it I want to be very well prepared. Thanks again for any and all help.
 
What did you trade in? Was it worth more than $5128.75 they gave you for it?
 
I assume the buy out is at $15,279. See what other CR-Vs with 36,000 miles are selling for. It sounds like a good price to me, but I have not shopped used cars.
 
The only thing to think about is that the sum of total payments is $30,000.
 
Are you buying it out with cash or financing? Over what period of time? In a few years you may end up with a $32,000 vehicle that is 5 years old.

Messages Page 74 of 124

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