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. Anyone have input on this or see something I missed?
Lease rate are much higher than CR v rates
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New model car that's going to be a hot seller for them for awhile. I'm sure they'll be offering leases more on terms with their other cars by the end of the year, they just want to rake in as much as possible with desperate buyers who have been waiting and waiting and waiting for this car.
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I share your pain. I have to buy this car as part of my job and this is really disappointing. I am in Ontario, and I was quoted a 4-year lease rate of 2.99%, compared to 0.99% on their other cars. Plus $1000.00 in "fees". I've attached a copy of the quote.
Attachments
Hmm... not sure how the fees are structured, but msrp on the EXL is actually 29990 plus 1695 destination, so you did okay there.
I really don't understand leases. Do you know if the residual rate (49.6%) would be the same for other cars, or do they tweak that too to make a lease more or less desireable? Not sure how they came up with the "on delivery" amount either.
I've always thought that the below-market lease rates (0%, .9%) are there to move cars out, and balanced by paying full or near msrp on cars they'd otherwise be prepared to deal on. In other words, you can get 0% lease / purchase financing and pay msrp, or you can get a substantial discount off msrp and pay cash (or finance elsewhere). Just different ways of discounting cars, e.g. last year's models, to move them.
I wouldn't expect any incentives like that for a while on HR-V. Not saying you can't get a few bucks off MSRP if you're lucky, but nothing substantial and no stellar rates for some time. Just IMO, and I'm no expert.
I really don't understand leases. Do you know if the residual rate (49.6%) would be the same for other cars, or do they tweak that too to make a lease more or less desireable? Not sure how they came up with the "on delivery" amount either.
I've always thought that the below-market lease rates (0%, .9%) are there to move cars out, and balanced by paying full or near msrp on cars they'd otherwise be prepared to deal on. In other words, you can get 0% lease / purchase financing and pay msrp, or you can get a substantial discount off msrp and pay cash (or finance elsewhere). Just different ways of discounting cars, e.g. last year's models, to move them.
I wouldn't expect any incentives like that for a while on HR-V. Not saying you can't get a few bucks off MSRP if you're lucky, but nothing substantial and no stellar rates for some time. Just IMO, and I'm no expert.
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Can get an HR-V AWD EX-L Navi, 10k per year, tax/dmv & 1st mth due at signing, then $319 per month, 39 months. Good? Bad? Should I pull the trigger??
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Residual I got from AHC was 65% which is fantastic. Your interest is based on your credit and affects the Money point used to calculate everything. You usually can pay down the selling price to reduce the monthly payment but it's restricted to 20% of selling price.
I did a comparison of cost of ownership and the lease came out cheaper when I buy it at end.
I did a comparison of cost of ownership and the lease came out cheaper when I buy it at end.
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279 Posts
You'll never get a good lease rate on a new vehicle, they are not confidant in the long term value and depreciation yet so they cannot offer good rates. Year three on this vehicle I bet we see $199 leases or even less. Look at any first year vehicle and leases are higher, even after full model refreshes the rates are higher on well established vehicles. If you can wait they will drop.
I leased the EX I got for under $300 which was less than my CRV lease I was on. Nothing down at all, but I had some positive equity in my old CRV lease that they did some creative work with I guess. Regardless I am pleased with my price and the vehicle so glad I made the trade.
I leased the EX I got for under $300 which was less than my CRV lease I was on. Nothing down at all, but I had some positive equity in my old CRV lease that they did some creative work with I guess. Regardless I am pleased with my price and the vehicle so glad I made the trade.
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I have never done a lease before, know zilch about negotiating a lease. I got caught up in the excitement of the newness of the HR-V, and totally forgot there was a lease deal on the 2015 CR-V. The lower MSRP of the HR-V made me think that somehow I would get a lower lease rate. I was in a vulnerable emotional state due to a recent death, and had to make a decision on what to do about transportation that very day, because I had to return a rental vehicle the next day (expensive, but not as bad as trying to get a cab when you live in the country!!!). Anyway, I feel I made a poor decision, and am now paying $336 a month on a 3-year lease (zero down) on the HR-V AWD LX with a 15K miles a year allowance.
If its a Honda Finance Lease and the $336 includes tax you're in the ballpark. It's expensive compared to the special offers on other vehicles, but if you wanted the HRV now, well... just enjoy the vehicle.
Does anyone have any idea how much one could save with a one-time payment Honda Finance lease? Honda Finance implied APRs rates are too high and I'm not making any interest in the bank, so I'm considering a one payment lease. I'd like to know before I ask a salesperson... the old rule of "never ask a question one doesn't know the answer to" applies when negotiating auto leases...
Thanks in advance...
Does anyone have any idea how much one could save with a one-time payment Honda Finance lease? Honda Finance implied APRs rates are too high and I'm not making any interest in the bank, so I'm considering a one payment lease. I'd like to know before I ask a salesperson... the old rule of "never ask a question one doesn't know the answer to" applies when negotiating auto leases...
Thanks in advance...
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Pulled trigger on 36 month Honda lease, AWD HR-V EX-L with Navi, 10k per year mileage, Milano Red. Due at signing (tax, bank & doc fees, first month & NY DMV) approx $2,300 and will be paying $327 per month. Money factor & residual is inline. New model always higher at the start, but got a fair deal under the circumstances. Could have paid less for a HANN lease, but have not heard good things about HANN, so I stayed with Honda.
Leased a 2016 HR-V LX in NY
I just leased an HR-V LX in NY. The CR-V was offered at $15 less each month, but I am interested in purchasing the vehicle after the lease, and the residual value was better on the HR-V. Here are the numbers:
Net Capitalized Cost: $20,467
MSRP: $22,215
Depreciation: 62%
Residual Value: $13,733
Money Factor: .0018
Acquisition/Banking Fee: $595
Rent Charge: $2342.23
Monthly Payments: $251
I just leased an HR-V LX in NY. The CR-V was offered at $15 less each month, but I am interested in purchasing the vehicle after the lease, and the residual value was better on the HR-V. Here are the numbers:
Net Capitalized Cost: $20,467
MSRP: $22,215
Depreciation: 62%
Residual Value: $13,733
Money Factor: .0018
Acquisition/Banking Fee: $595
Rent Charge: $2342.23
Monthly Payments: $251
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