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Honda CR-V Lease Questions

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

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

Messages Page 75 of 124

#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.

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

Jul 28, 2010 (10:43 am)

Replying to: blueiedgod (Jul 28, 2010 9:43 am)
Car I traded was a Mazda Tribute 2001 with 100K. If I sold myself I wouldn't have gotten much more for it and didn't want the hassle of selling. Was afraid I'd sell to someone then something major would go wrong and I'd feel bad so just traded. If I buy my 2007 CRV I will pay cash, no finance.

#736 of 1230 Re: CRV Lease [colleen178] by colleen178

Jul 28, 2010 (1:50 pm)

Replying to: colleen178 (Jul 28, 2010 10:43 am)
Just went to dealer and they pi$$ed me off! Tried to give me $16,200 for my 2007 CRV with 29K. Then they wanted me to give them $3600 dp for a monthly payment of $252. Residual value was 63% which made buy out $16K+ at end of lease. They should have offered me at least $17,400 for my trade and I think residual should have been 57% plus they were charging me full price for car. I got mad at finace guy and walked out. He was a jerk. My salesman is a good guy and I felt bad for him. Finance guy killed the deal. I'm going to another Honda dealer today or tomorrow, hope to do better. Any words of advice from anyone before I go to the next dealer? Thanks!

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

Jul 29, 2010 (9:43 am)

Replying to: colleen178 (Jul 28, 2010 1:50 pm)
Just went to dealer and they pi$$ed me off! Tried to give me $16,200 for my 2007 CRV with 29K. Then they wanted me to give them $3600 dp for a monthly payment of $252. Residual value was 63% which made buy out $16K+ at end of lease. They should have offered me at least $17,400 for my trade and I think residual should have been 57% plus they were charging me full price for car. I got mad at finace guy and walked out. He was a jerk. My salesman is a good guy and I felt bad for him. Finance guy killed the deal. I'm going to another Honda dealer today or tomorrow, hope to do better. Any words of advice from anyone before I go to the next dealer? Thanks!
 
Let me get this straight. You have leased a 2007 CR-V, right? And you are trying to buy it out?
 
Why are you going to dealers?
 
Your lease agreement should state what your buy out is at the end of the term, unless it does not allow you to purchase it at the end of the lease term.
 
Is it LX, EX? 2WD, AWD? What state are you in?

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

Jul 29, 2010 (10:08 am)

Replying to: blueiedgod (Jul 29, 2010 9:43 am)
I was there to trade my 2007 CRV EX for a 2010 CRV EX 4WD. I'm in NYS.

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

Jul 29, 2010 (12:54 pm)

Replying to: colleen178 (Jul 29, 2010 10:08 am)
I was there to trade my 2007 CRV EX for a 2010 CRV EX 4WD. I'm in NYS.
 
Do you own the 2007?
 
Are you leasing the 2010?
 
What is wrong with 2007 that you want out of it into the same 2010?

#740 of 1230 Re: CRV Lease [colleen178] by delta737h

Jul 29, 2010 (3:41 pm)

Replying to: colleen178 (Jul 27, 2010 7:55 pm)
Colleen178,
 
It's really difficult to tell whether or not you got a good deal. From the data you provided in post #733, the 2007 CR-V selling price appears to have been 24,000 and the gross cap 24,595 (24,000 + 595 acq fee). I have no idea what a competitive selling price on a 2007 CR-V would have been three years ago. My best guess is that it appears reasonable. Your money factor was 0.00300 which equates to 7.20%. Don't know what market rates were back then but it seems kind of high. Did you have Tier 1 credit?
 
I can't comment on the 5,128 that they gave you for your trade because I have no idea what your trade was worth.
 
I can tell you that all the calculations appear to be done correctly including the NY sales tax calculation at 8.00%.
 
John

#741 of 1230 2010 Honda CR-V EX Lease by frog22

Jul 29, 2010 (7:09 pm)

Last week I leased a 2010 4WD Honda CR-V EX w/ 12,000 miles per year, 36 months.
 
 I put only taxes, DMV fees and first month's payment down (about $1400), and the payments are $275 a month.
 
This is my first Honda and only my second lease. How'd I do?

#742 of 1230 Re: 2010 Honda CR-V EX Lease [frog22] by CapeCod

Jul 30, 2010 (11:58 am)

Replying to: frog22 (Jul 29, 2010 7:09 pm)
New to leasing so I may ask 'foolish' questions...
Should I be putting more $$$$ into the down payment of a lease to lower the monthly rate or is that counter productive???
Post # 741 shows a $275 payment with only $1400 down!
What would the Money factor for that deal work out to?
Toyota is offering me .ooo2 MF which I think is good...
so it probably means they are beating me somewhere else, right???
BTW I am torn between RAV, CR-V, or Prius ???

Messages Page 75 of 124

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