Deal check on 2020 CR-V EX-L 36/12,000 miles

This is my first lease so could use some guidance on where/how to knock dow the price as this is high compared to similar leases i’ve seen. Over $400 with $0das. I’m seeing similar models go for mid 300s

I have a trade in car that the dealer appraised at $5,000 that i did not include in this calculator.

I’ve been getting similar numbers from other dealers so maybe it’s my area (philly).

Thanks,
Alan

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 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, 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.

Check marketplace. You’re well above invoice. You should be at least 10% off.

Idk about PA but my buddy got a crv EXL 36/10 $279 a month with $2k DAS from CT dealership three weeks ago

In addition to what Chris said, make sure you’re not leaving money on the trade table.

Check ALGO, Carvana, VRoom, SHIFT, etc etc. to see who is highest and attempt to get that matched.

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Hey send me a text message. I can definitely beat this. I’m assuming Pittsburg, if you can make it to CPA.

Hey. I appreciate the message. I’m actually In Philadelphia.

If we can’t work together, I’d love some advice on how to knock down this price.

Get the most for your car either trade in or vroom/carvana.

A deal on this car should be $350 or less with $0 DAS and 12K

Do your homework to determine what your target price should be given the lease programs that apply to you and comparable deals, then reach out to dealers and tell them what you’re willing to pay rather than asking them what they want you to pay.

Appreciate your response.
What are you looking at that would indicate a $350 price? I agree with you, but I’m not sure where to start negotiating. The invoice price I found on Edmunds is just above what their offer is so how do I justify a lower price from them?

I’d suggest stepping back and reading the posts in this thread that have given you step by step instructions as to where to start.

Appreciate your response.
That sounds just at the lower end of what people on this forum are getting, hence my question.

Did your friend knock down that price from roughly 400 or did the dealer offer that?

Can we STOP throwing out nonsense like this? Good lord.

So if he lives in NH with 0% sales tax or Chicago with 18.5% sales tax, or Florida with $1k doc fees or NY with $85 foc fees it’s $350/mo $0DAS? :face_vomiting:

@akj5051 Please follow my previous post. This is a prior year Honda and there should be plenty of supply and dealers in your region to make offers to. There are TONS of comps in the marketplace, shared deals, Honda CR-V forums, etc. Also your MSRP is wrong. You’re at $1k over invoice right now. I would want to be at least $1500 below invoice on a 2020 Honda in January 2021. If the market truly is this bad in your region, you need to expand your search radius.

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Thanks for the tip. The car is worth around $7k on Vroom and ALgo

Do you research of what a reasonable number is on a particular car then find one in stock and reach out to the dealer with your proposal. They may bite or not respond at all but like my grandfather used to say it’s free to ask. I’ve gotten few cars from this particular dealer so he’s not trying to squeeze me for every last cent. Everyone deserves to make money on a deal but I just hate it when they hit you with ridiculous numbers when you ask them what something should cost.

If you ask the dealer what they want you to pay, you should never be surprised when they tell you a number that makes them happy.

Appreciate it! Yes, I’m currently following your post. And will be approaching dealers differently. I definitely got some bad advice from youtube

  1. Is that screenshot from MarketPlace? Edmunds shows 32,670 invoice price.

  2. $1500 below invoice. OK, good to know. Would love to know how you got to that number. $1500 under your invoice price gets me to 26,799. That would get me to the 330 mark which is what i want.

No. You need to add the destination to the numbers. $30,150 + $1,120 = $31,270

Edmunds is showing that on a 2020 CR-V EX-L??

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I was using this site which has always been accurate for me, but maybe not :thinking: Double check the sticker to be sure.

https://www.car-buying-strategies.com/dealer-invoice/honda-cr-v-prices.html

That begs the questions.

If the price I get on these sites is $7k, how much would a dealer pay for it? If I sold it to them for $5k, that would give them a 30% margin. I feel like they would definitely pay more.

Small correction, I’m looking at AWD.

Edmunds is about 1,000 above car-buying-strategies.

Here is a link to the car. Their MSRP is 32,770, which matches Edmunds.

Invoice is largely inconsequential to you. The only thing to really worry about is what the market will support, which means looking at the shared deals here and marketplace listings for establishing your pre-incentive targets.