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Honda CR-V, Car Leasing, Wagon, SUV
#837 of 1228 Honda CRV SE 2011 lease
Jan 27, 2011 (3:27 pm)
Hi Car_man, and other fellow members
I'm considering the following lease (36 month, 0 down) for a Honda CRV SE 2011 offered to me by a NJ dealership. Looking for advise on how you think this stacks up in terms of competitiveness. Also, as this is their first offer, do you believe there is further room for negotiation - either on price or options that they could throw in?
Also, can anyone familiar with NJ dealers confirm if the Doc fee is negotiable. I've been told by a couple of dealerships that it is not.
2011 SE AWD 36 Mth 0 Down, 12K miles per annum
$239 per month + taxes (7.5% NJ)
MSRP quoted: 24,425
Sell price quoted: 22,783
Pay & Drive (Bank Fee, Reg & Title, Doc Fee, Taxes, 1st Month) = $1,400
No Dispostion fee
$1500 dollars worth wear & tear waived
Thanks so much for your time. Appreciate it.
#838 of 1228 Re: Honda CRV SE 2011 lease [thandamilk]
Jan 27, 2011 (4:43 pm)
I got my CRV at the end of Dec. 2010 at $265. 00 $700 down 12K 36 mths. out the door no other cost. Rte 22 Hillside Honda NJ. A good time to close the deal is this weekend end of the mth. I don't understand the wear and tear waiver, it's part of the lease warranty and it's important when you bring it back after 36 mths. trust me. I had a baseball size dent/crease over the wheel well, major scrapes on the bumper and big curb scrapes on the alum. wheel on my 08 Accord when I handed it back, didnt cost me anything.
#839 of 1228 Re: Honda CRV SE 2011 lease [packer3]
Jan 27, 2011 (8:03 pm)
Thanks for sharing. Is yours an LX/SE/EX?
#840 of 1228 Re: Honda CRV SE 2011 lease [thandamilk]
Jan 28, 2011 (5:24 pm)
It's an SE.
Honda right now in Hillside has an internet special for the CRV LX till Monday $1500.00 down $199.00 + tax which equates to about $205 a month out the door for 30 months no strings attached. Mohammed is the one of best reps down there.
#841 of 1228 Re: 2011 Honda CR-V 2WD LX/EX [whacked]
by Car_man HOST
Jan 30, 2011 (12:54 pm)
Thanks Michael. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V LX 2WD with 12,000 miles per year are .00071 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
The numbers for an otherwise identical lease of an '11 CR-V EX 2WD are exactly the same.
Prices Paid: Buying & Leasing Experiences Forum
#842 of 1228 Re: Honda CRV SE 2011 lease [thandamilk]
Feb 01, 2011 (11:38 pm)
I leased a CR-V (SE 4WD) about a week ago in LA (9.75% sales tax) with 15K miles per year. I'm paying $295 per month (taxes and all other fees included) with no downpayment other than my first month payment. I hope this helps.
#843 of 1228 Re: 2011 Honda CR-V [Car_man]
Feb 07, 2011 (2:33 pm)
Would you please post the February MF and residuals for a CR-V SE 4WD, 36 months with 12K and 15K p/y.
#844 of 1228 Re: 2011 Honda CR-V [isles1]
by Car_man HOST
Feb 09, 2011 (4:54 pm)
I'd be happy to help you out, isles1.
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 CR-V SE 4WD with 15,000 miles per year are .00071 and 61%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Prices Paid: Buying & Leasing Experiences Forum
Feb 10, 2011 (8:01 am)
My quote from a South Florida Dealership:
2011 Honda SE FWD
MSRP - $23,175
Dealer quote - $21,675
Lease 3yrs/12k miles
Money Factor - .00061 (720+ beacon)
Residual - 62%
Monthly payment - $249.99
Down Payment - $600 dealer fee + first payment + title fees (approx $1,000)
I just wanted to test drive the car, however, they provided me this information. They even printed the screen shot from the computer.
When I went home, i plugged in the numbers in a lease calculator and got a monthly payment of $225.
I'm still doing research to see if it is possible to get a lower cap cost.
#846 of 1228 ‘easiest way’ to lease a CR-V
Feb 10, 2011 (9:12 pm)
Here’s my two cents on the ‘easiest way’ to lease a CR-V. Since each model has a uniform price, you get your lowest monthly lease cost by standardizing your required lease terms. I suggest looking for: (a) 36 month term, (b)12K miles per year, (c) sales tax included in the monthly lease payment, (d) the same residual value for the given model, (e) minimal up-front money, comprising ONLY the document fee (not to exceed $75 in NY), inspection & tire fee ($22.50 in NY) and the actual cost of registration & plates (get the amount, maybe $175 in NY), (f) no other up-front fees, charges, etc. of any kind, (g) no end-of-lease fees, charges, etc. of any kind (except excess mileage and excess wear and tear) and (h) the lease must be through Honda Financial.
Outline your required lease terms to a few dealers, and get their quoted monthly lease payment, of course confirming the up-front money is only approx. $272.50 (per above); all dealers will add the first month’s lease payment to that up-front amount. You then take the lowest monthly payment (which may require a second visit), since the vehicle and lease terms are the same. This approach lets you avoid all the fun discussions about money factor, capitalized cost, etc. You will have effectively ‘bought’ the car at the lowest price, since you’ve taken the lowest monthly lease cost, with the option to buy at a uniform price after 36 months.
In my opinion, you should be comfortable with Honda Financial’s lease, because it specifies the following reasonable terms: (a) no disposition fee, (b) excess wear and tear coverage of $1,500 at end of lease, (c) gap insurance (ie, Honda will accept your insurance company’s check as payment in full if the car is totaled in an accident) and (d) a charge of 15 cents per excess mile.
In comparison, Toyota’s lease is far less comforting (in my opinion), because it specifies the following standard terms: (a) $350 disposition fee (Toyota mandate), (b) no end of lease coverage for excess wear and tear (with no contractual protection, your turn-in cost could be anything), (c) no gap insurance (Toyota will supply it for $195), (e) an indecipherable arbitration clause, designed to protect Toyota if it has another recall. Thus, if you think the cars are about the same, I say choose Honda because its lease is more reasonable.