2021 Honda CRV EXL

Ask the Hackrs
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1

Does anyone know the residual value on a Honda CRV EXL and/or a fair overall price to shoot for? MF is .0012. MSRP is 31,675 with a seller price of 28,995.
First timer so any advice is appreciated.

2

Type that on edmunds website

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3

I would be surprised if you could get one under MSRP right now. In my market, they’re selling for MSRP or more.
Good luck!

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4

It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.

We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.

  1. Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
  2. Pick a specific vehicle that you want to target
  3. Gather the current MF, RV and incentives from Edmunds forums for your zip code
  4. Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
  5. Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
  6. Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.

With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.

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5

Lol there def needs to be have u read this or so kind of post when someone makes a post.

A lot of questions would be solved by a FAQ

6

In this market a fair overall price to shoot for is $31675. Inventory is so low right now. Around here most are sold before they even make it to the dealerships.

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