Leasing? - Honda HR-V Forum
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post #1 of 22 Old 05-17-2015, 10:11 PM Thread Starter
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Leasing?

Anyone leasing? How much are you paying or what offers are you getting?
I like to lease my vehicles before I decide to purchase. I kept my Pilot after leasing. This will be for the wife.
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post #2 of 22 Old 05-18-2015, 11:28 AM
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I have been planning on leasing an HR V this week until I got the lease rates. They are exceptionally high when compared to CR-v rates for the same lease price car. For instance a 36 month lease on the hr v is $2,456 higher in total lease payments than a CR v that actually has a capital cost that is $758 higher than the HR v. The difference as best I can tell is in the depreciation calculation (residual value is $14,549 HRv Vs $16,368 CRv) and the money factor that is .00165 for the HR v and .00051 for the CR v. As much as I love the HR v this makes it unleasable and a no go for me. With $2755 due at signing the CRv is $159 a month and the HRV is $227, a $70+ a month difference. You can check lease pricing at this Weymouth Honda lease calculator http://www.weymouthhonda.com/lease) which is an awesome tool. Hope this helps but it looks like now is not the time to lease an HRv.
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post #3 of 22 Old 05-18-2015, 11:36 AM
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Originally Posted by GilonMV View Post
I have been planning on leasing an HR V this week until I got the lease rates. They are exceptionally high when compared to CR-v rates for the same lease price car. For instance a 36 month lease on the hr v is $2,456 higher in total lease payments than a CR v that actually has a capital cost that is $758 higher than the HR v. The difference as best I can tell is in the depreciation calculation (residual value is $14,549 HRv Vs $16,368 CRv) and the money factor that is .00165 for the HR v and .00051 for the CR v. As much as I love the HR v this makes it unleasable and a no go for me. With $2755 due at signing the CRv is $159 a month and the HRV is $227, a $70+ a month difference. You can check lease pricing at this Weymouth Honda lease calculator http://www.weymouthhonda.com/lease) which is an awesome tool. Hope this helps but it looks like now is not the time to lease an HRv.

Good info,

Also, If leasing, never put any money down due to if you get into an accident all that money is lost.
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post #4 of 22 Old 05-18-2015, 11:59 AM
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It seems like the money factor is the bigger issue, but you didn't say what the price of the vehicles were to start with - are you comparing a loaded hr-v at 30k against a mid point crv at 30k? Just curious to know how much the price drop was compared to the 2 vehicles. The nice thing would be if the drop on the hr-v was low compared to eventual actual value. Might mean you could sell it at the end of lease and make some of that money back.

On the subject of turning a lease into a buy ... Ugh that's hard. I'm in that spot with our civic. I could buy it and pay 265 a month for 5 years for a used car or lease something new for that price (nothing down). I can't decide if I really want to make 8 years of payments for the same car, or just keep getting a new car every 3 years. But it's one of the reasons I renewed my lease for 3 months on the civic so I could decide about leasing the hr-v. I have a feeling I really will like the model in 3 years more than the current version. Especially if they come out with a turbo ... Or maybe that hatchback civic instead??
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post #5 of 22 Old 05-18-2015, 12:13 PM
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Hard to compare for me as GAP Insurance is by New York State law included in the cost of any car lease plus there is a bank fee as well.

But basically for an EX-AWD 2016 HR-V

36 months
12,000 miles/year
No money down
No destination fee
applicable NYS tax

Payments are about $300/month.

And yes it comes with the lifetime yearly NYS auto inspections and 2 years of free oil/filter changes every 5,000 miles.
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post #6 of 22 Old 05-18-2015, 02:21 PM
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Originally Posted by Hondude View Post
Hard to compare for me as GAP Insurance is by New York State law included in the cost of any car lease plus there is a bank fee as well.

But basically for an EX-AWD 2016 HR-V

36 months
12,000 miles/year
No money down
No destination fee
applicable NYS tax

Payments are about $300/month.

And yes it comes with the lifetime yearly NYS auto inspections and 2 years of free oil/filter changes every 5,000 miles.
That's not bad. I was hoping for an EX-L to be in under $350 so that seems really reasonable. I just thought it would take awhile. Honda had a lease calculator up for a bit (now it just says talk to your dealer). First time I ran it it was $439 which was just crazy. But I figured they were doing it as a way to encourage buying instead of leasing.
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post #7 of 22 Old 05-18-2015, 03:14 PM
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One reason I've never liked leases is that I find them really opaque and hard to compare / value. The idea of a no-hassle turn-in at the end if the vehicle doesn't live up to its promise or the market rejects it appeals with a brand new model like the HRV, but really I intend to keep my next car for a decade or more (like my current car).

It will always be cheaper to own a car outright and drive it until it dies, except possibly for business or tax considerations. Leasing means you're always paying for the highest depreciation years; whoever buys your lease return vehicle (you or someone else) gets a way better deal... but of course it's a used vehicle. When you compare monthly payments remember the principal portion of a loan... you're building equity. Yes, in a depreciating asset, but at a much lower rate after those early years.

If you plan on a new car every few years regardless, it's much more of a wash. Call me old-fashioned, but if I had to finance I'd much sooner pay more per month for the shortest term I could manage, then be out of debt and have a good car with a known history and many years of useful life left. If you need the prestige of the latest, or put on tons of miles, or just like new, then the equation changes... but of course it's going to cost you.
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Last edited by idearat; 05-18-2015 at 03:17 PM.
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post #8 of 22 Old 05-18-2015, 03:54 PM
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I think leasing a Honda dosn't make sense as its asset always has been re-sale value and reliability. I would have no problem leasing a German car though!
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post #9 of 22 Old 05-18-2015, 04:51 PM
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No, any questions on it I would contact your financial adviser.
Generally people lease when they want to have more than they can afford.
Talk to any financial adviser and its like buying a hybrid...sounds good up front, but cost you more in the long run unless you get a new vehicle every 2 years then you are still spending more money.


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Originally Posted by mmoushum View Post
Anyone leasing? How much are you paying or what offers are you getting?
I like to lease my vehicles before I decide to purchase. I kept my Pilot after leasing. This will be for the wife.
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post #10 of 22 Old 05-18-2015, 05:49 PM
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Originally Posted by HRV4ME View Post
No, any questions on it I would contact your financial adviser.
Generally people lease when they want to have more than they can afford.
Talk to any financial adviser and its like buying a hybrid...sounds good up front, but cost you more in the long run unless you get a new vehicle every 2 years then you are still spending more money.
Don't quite agree. If I can make more money with my investments then it's wise to use Honda's money. Presently I am earning significantly more than lease rates. There is a warm fuzzy feeling in ownership but it may not be the best financial decision. Everyone is different. That's why there's 32 flavours of ice cream.
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