Deal check: First time lease 2021 Honda CR-V SE AWD 36/10 398.46

quote Honda CR-V Special edition AWD

  • State: NH (zipcode 03755)
  • 36/10
  • MSRP: $29275
  • internet price: $28,690.00
  • Cap cost: $28690
  • Residual: $18443.25 (63%)
  • MF: 0.0012
  • Fee:
  1. administration $699
  2. acquisition $595
  3. vin etch $ 259 >> I will ask to eliminate this.
  4. title $ 25

I know that you should never put money down, but 398 is ridiculous…

  • 0 down: $398.46
  • 1000 down: $368.63
  • 1578 down: $351.37
  • 2000 down: $338.78

Questions for experts

  • This is not the deal that I want, but it’s a starting point.
  • When I asked for a negotiated price

"At this time, however, are prices are firm and will not be lowering the cost of the 2021 Honda CR-V Special Edition. "

Q. What do I need to ask to lower down the payment?
Q. Or do I just drop the conversation and move on?

Putting money down doesn’t make the cost less ridiculous, it just front loads it.

What is the deal that you want? What is it based on?


You have to remember what market we are in right now. These days, the ball is really in their court, not yours.

We have a Honda dealership near where I am, that about three weeks ago had 80 some CR-V. They are a one price, no negotiation store, and everything was priced at MSRP. About a week ago, that same store had no CR-V’s. These days Honda will have no problem selling vehicles at MSRP.

1 Like

Thank you for the quick response.
So you wouldn’t be against putting money down? I have seen some forums against any money down vs some that advocated for less than 20% MSRP. Interested in what your thoughts are.

I wanted 12 miles, 0 down, 0 drive off with a monthly payment of 1% MSRP.
Maybe I’m being naive here and in denial of the market currently.

I see. So given the current market, this wouldn’t be a bad deal, would you say?

There are reasons for and against putting money down. Many say not to put any down because of the risk of the vehicle being totalled and not getting it back. That’s valid, although low. The cost of protecting yourself against that chance depends on the mf, etc. I personally wouldn’t subscribe to absolutes. Most important is to not use a big cap cost reduction to make a payment “feel” OK. That’s a great way to overpay.

Basing a target payment off of 1% of msrp isn’t a useful strategy. There are vehicles where That’s a great deal and vehicles where that is a horrible deal. You’re far better off establishing your target price off of the current market conditions by looking at shared deals and broker listings and then applying the lease terms as they apply to you.

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 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (How to Use Leasehackr - YouTube) to brush up on how to most efficiently use the resources here.
  2. Pick a specific vehicle that you want to target
  3. Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or 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.

Thank you, this is most helpful.
I see your point on using 1% of msrp isn’t helpful - Thank you for the explanation.
I did steps 1-5, but still a lot to learn. The different terms and different MF/RV is new information to me - thank you for the suggestion. Will try again! (as you’ve mentioned with a solid foundation)

In my opinion, no. It seems decently reasonable given the current environment.

Thank you. This is reassuring!

New Dealer Honda CR-V EX 36/10

list of costs

  • Selling price 30980 (includes the white color $390) - this is the only one in their inventory
  • Registration $550
  • Doc $198 (cheaper than nearby dealership of $699)
  • Gross cap cost $31728
  • Total due at signing $400
  • RV: 63%
  • 10/36
  • no discount off msrp
  • NH (dealership in VT)

Monthly breakdown
0 down: 401-429
1000 down: 372-400
2000 down: 343-371

I asked for money factor and other discounts and the answer that I got was…

  • No discount on MSRP
  • Money factor negotiation once they have a sense that I will work on a deal.

Is this a bad deal?

  • At least they didn’t include the VIN etch fee and were super transparent about the cheaper doc fees.
  • What more information can I ask for?
  • The ballpark figure on the monthly breakdown: where does that wiggleroom come from? How do I bring that down?
  • I’d love to hear your thoughts. If it isn’t a bad deal, I might put down a deposit down today.

Threads combined. No need for a new thread for the same questions.

What was your target price based on the earlier advised steps prior to talking to this dealer?

1 Like

Thank you so much for combining the threads.

This is a different dealer and a different trim.
The deal that I asked about yesterday (which I received a ton of help from you) was sold this morning haha

My target price was 2% of MSRP, but at this point, I’m not sure if it’s possible.

If you run that to ground, using the lease programs that apply to you, what does the lease end up looking like?

On a totally personal pet peeve note, I’d tell this dealer to pound sand just for trying that $30 payment spread nonsense where they say “well, we’ll just have to see what it comes to!” and play psychological games with you to get you mentally committed to the lower number on the possibilities and then come back a few dollars under the highest and say “look, we got a bit off… we’re right in that range!” as if they don’t already know the price.

Got it. I’ll tell the dealer to pound sand haha
I believe the MF is 0.0015.
If I do 2% of MSRP,
the total lease cost is $14,021 instead of $14,674
the monthly payment is $384 instead of $402

I wouldn’t ever leave this to debate. What did edmunds give you for rv/mf/incentives when you verified with them?

That’s up to you. You can certainly tell them the price that you want to be at and see if they get there.

Ah, yes.
RV: 63%
MF: 0.0012 (correct base MF)

previous typo lead to confusion


incentive: none

Good point. I’ll need to work on getting to my targeted price.

Just put the Deposit down for CR-V EX

  • MSRP: $30980
  • Selling price: $30000 (3.16% off MSRP)
  • MF: 0.0012
  • Residual: $19517 (63%)
  • Adjusted cap cost: $30793
  • Total lease cost: $13248
  • Fees: Doc fee $198 + Honda Acq Fee $595
  • DAS: 373.58
  • 0 down: 374-402
  • Lease hacker score: 6.9 years

How is the MF in your deal lower than the base MF?

I had a quote from a nearby Honda dealership and listed out the MF to my current dealership.
What is the base MF?

Didn’t we just talk about verifying rv/mf/incentives with edmunds?