Calculator link below. I put a refundable deposit down on the following deal in Florida. This is the new hybrid L trim that is new for 2024 that Honda added. The calculator came out perfect according to the dealers numbers. This seems to be the best out of 16 or so dealers I have corresponded by email and a couple by phone over the last two months. I usually lease every 3 years or so but might buy the CRV in a year or two out since it already has positive equity. Trying to stay in budget payment wise for our family. Thank you.
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With a few exceptions, financing on day one always makes more sense than leasing followed by financing.
- Pay acq fee for essentially no reason
- Used car APR for the buyout will be higher than new car APR
- If there are dealer fees for the buyout that’s even more cost
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Yeah that’s true but financing might be out of our monthly budget and if we decide to turn it in 3 years from now.
What did you think of the lease offer? Solid deal or blah?
10% off?! Dang.
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Here’s another POV about budgeting: would you like to spend ~$60,000 over 3 leases and have nothing to show for it?
Lots of other leases around that have that effective but are just way more car… like the Grand Cherokee or Wrangler 4xe… fully electric the ID4 would lease for the price your paying and you could buy it out. For the Jeep no need to buy out as they allow third party buyouts.
Looks pretty solid on a hybrid Honda CRV. Like others have mentioned, there are better vehicles for $500/mo, but if this is what you want, it’s probably the best you’ll get.
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I took your advice plus other financial advice and I went ahead and financed it. The only fly in the ointment was that Honda did not have a promotional finance rates for the 24’s. My interest rate is 8.99% ouch, 740s credit score. I did not get the $500 leasing rebate, but I didn’t have to pay the $598 acquisition fee so it was almost a wash.
Once the loan is on my credit report and Honda Financial has it on the books I’m going to refi it at a credit union or Capital One. I might be able to save 1 to 2% APR or so.
What fully resonated with me was Honda’s 8-year 100,000 mile battery warranty. Hopefully the vehicle will last 7 years or so. I am done with the trade-in, leasing every couple years.
*It is near impossible to find out Capital One’s rates without pre-qualifying for an auto refi. My loan is not on the book so I can’t do it yet.
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If you go on the Honda specific forums there are usually posts about which dealers have the lowest price for OEM extended warranties (if you want more coverage for years 4 through 8).
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fantastic price! how the hell did you swing 10% off MSRP? most I’ve been able to so is $1k off. and i’ve been hunting for a while.
So to close out this thread I ended up refinancing the loan once it hit Honda Financial. Got a 6% rate at my credit union.
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