CR-V EX AWD / how does this look?

Ask the Hackrs
1

Offer from dealer to turn in my current 2014 CR-V LX lease four months early and get into a new lease on a 2017 Honda CR-V EX AWD. I know MF is very high right now. I don’t have to do anything now, but of course it’s tempting to get into a new and upgraded model. Let me know if this is worth entertaining:

MSRP: 28,935
Cap Cost: 26,200 (9.5% off MSRP)
Residual: 18,518 (63.9% by my calculations)
MF: .00210 :expressionless:
12k miles/year for 36 months
Drive-off = $450 incl 1st month payment
Monthly payment = $328 (MA 6.25% tax rolled in)

Thanks!

2

What’s the current market value and buyout price for your 2014 CR-V? It shouldn’t surprise me if you had some equity on it. Make sure the dealer isn’t using that as CCR.

3

I asked if equity was factored in, and they said no.

Payoff is in line with equity (actually a little more than equity).

4

Completely different market but here in southern CA with zero negotiation you can get a 2017 CR-V EX for $315 (including 9% tax) with $1,343 due at signing. So lower payment but more drive-off. That is through the Honckr app.

Based on that you probably have an average deal. If you have four months perhaps wait and approach dealers at the end of months to see if they are motivated to move an additional car.

I have noticed Honda doesn’t have good lease offers on the CR-V, especially the MF’s. Probably because they are selling just fine without them.

5

Thanks for your message. Do you happen to know if this model is AWD? I’m thinking in SoCal it would be FWD, which would reflect a lower price.

I see pretty decent numbers for the LX model, but that’s what I have now and would like the extra features on the EX.

6

The app doesn’t indicate if it is AWD but based on the quoted MPG I believe it is the cheaper FWD version.