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Discussion Starter · #1 · (Edited)
I have been wrestling with the question of if I need to put a deposit down on an HRV or not. I thought I would bring the question here to hear what you all think.



Some of the facts:
  1. My current Honda Civic lease ends in mid-July.
  2. I wish to lease an HRV before deciding to buy or not.
  3. My sales rep. in New Jersey is pushing for a deposit.
  4. HRVs are not arriving at my dealership (New Jersey) until the beginning of July.
So what do you all think? Should I put a deposit in or should I wait and see if there are HRVs available in July. I can extend my current lease if there are not HRVs available... What are your opinions?
 

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You didn't mention if you are in the US or Canada. If you are in the US, your salesman is pushing way too hard and isn't aware of current delivery schedules. In Canada you might be closer to Juky, but no definite word that I've heard on the schedule there. Either way I'd wait. The lease extension gives you plenty of choice and freedom.
 

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Discussion Starter · #3 ·
You didn't mention if you are in the US or Canada. If you are in the US, your salesman is pushing way too hard and isn't aware of current delivery schedules. In Canada you might be closer to Juky, but no definite word that I've heard on the schedule there. Either way I'd wait. The lease extension gives you plenty of choice and freedom.
Thanks for pointing that out. I have edited my post with additional information.
 

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I think it depends on what you are after. My lease ends on May 9th. I've called and talked with Honda Financial and they said no need to extend until the first week of May so I can make a decision or wait a bit longer if needed.

For me - it boils down to this. Do you want a pick at the first handful that your dealer gets, or do you want to make a more personal choice? For example, I know my dealer is not getting AWD in their first batch - so I'm going to wait for that. Also - I'm torn on color. It's either Red or Green ... Maybe white. Maybe something else. I really want to see them so I can make a choice. I figure by mid June I will have a car that I want with the options and color for the next several years. But ... If you are dealing with an itch and don't care too much about trim or color level - then put a deposit down. Of course ... Remember that commits you to him just a little more which is why he wants that deposit! I say keep your money and look at all other dealers. Just my 2 cents ...
 

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Discussion Starter · #5 ·
I think it depends on what you are after. My lease ends on May 9th. I've called and talked with Honda Financial and they said no need to extend until the first week of May so I can make a decision or wait a bit longer if needed.

For me - it boils down to this. Do you want a pick at the first handful that your dealer gets, or do you want to make a more personal choice? For example, I know my dealer is not getting AWD in their first batch - so I'm going to wait for that. Also - I'm torn on color. It's either Red or Green ... Maybe white. Maybe something else. I really want to see them so I can make a choice. I figure by mid June I will have a car that I want with the options and color for the next several years. But ... If you are dealing with an itch and don't care too much about trim or color level - then put a deposit down. Of course ... Remember that commits you to him just a little more which is why he wants that deposit! I say keep your money and look at all other dealers. Just my 2 cents ...
Are you planning on Leasing the HRV too or are you buying? I need to see pricing first, but I am interested in the Metallic color, AWD, EX. Again, I will need to see what the pricing will look like and what kind of lease I might be able to have. I had to wait a week for my current lease because the dealer did not have the color that I wanted.
 

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Are you planning on Leasing the HRV too or are you buying? I need to see pricing first, but I am interested in the Metallic color, AWD, EX. Again, I will need to see what the pricing will look like and what kind of lease I might be able to have. I had to wait a week for my current lease because the dealer did not have the color that I wanted.
I'm not sure either. Something tells me the lease deals are not going to be great with such high demand right now - so I think I will be buying. Which isn't bad. I would have kept our current civic but we got such a good deal on it - it's cheaper monthly payment to lease again for a new car than to pay for a few more years on my now used civic! So buying from the start will be a better option for us.

But like you I need to see those numbers. The price of the AWD might not be worth it - but I know I will get an EX-L at a minimum. I wish they would release the numbers already!!
 

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Deposits are a tricky subject and typically a high pressure sales tactic. Depending on your vehicle situation, I can see a couple of options.

First, ask Honda for a 3 month extension to your lease. They love taking your money so this shouldn't be a problem. This way the HR-V fever should die down a bit and you won't be reaped over the coals with your purchase price on the lease. They might try and make you pay depreciation based on MSRP if you lease now. If you wait until Sept/Oct then you'll have more leverage to get lease down.

Second, if you have another car or can take public transportation (not sure where in NJ you are, i.e. if you commute by train to NYC), you could turn your car in at the end of the lease (Honda doesn't have a disposition fee, I think--or sell it to someone). Then wait for the long-term reviews to come out so you can decide if you want to purchase the car. This again will help you from overpaying on a lease--let others and the car magazines do their thing. I am partly skeptical of buying a brand new car model--compounded by the fact that the Mexico plant (and transport to the US) might be entering the terrible twos in terms of getting their quality right on the first batch of cars.

Third, if you are going to be paying MSRP on an HRV, you might as well bargain for a CR-V. Even if you just use Truecar you can get a good deal on a CRV that will be, I am guessing, cheaper than a full price HRV.

I am sure there are others who have better ideas more compatible with your needs.
 
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