First time leaser-2019 Honda CRV EX

ca
suv

#1

I have no idea what I’m doing. But I’m hoping to get a 2019 CRV EX for about $300 a month. This is the dealers first offer. What can I use to negotiate?


#2
  1. Honda CR-Vs typically don’t lease well
  2. Your discount is an absolute joke and a clear indication that it is a bad deal
  3. Where are you getting the $300 number from? What discount percentage is necessary to get that payment? Do you want $300 with sign and drive, first payment DAS, etc?

#3

Yeah $500 discount is a joke, I’m just not sure how to negotiate it down as I haven’t seen too many 2019 CRVs posts on here or anywhere else for that matter. As for the $300, that’s more or less my budget but I figure if I can get the MSRP down to $26,000 (about a 8% discount) and perhaps a $1000 down payment would do the trick.


#4

That’s not the correct residual or MF.


#5

Can you elaborate? Please I did as much homework as I could on this forum, but I’m still lost


#6

That sales guy is taking you for a joy ride…$449 and $1500 due on delivery…I would laugh right in his face.

Crv EX could be had for under $285 a month!!! Anything more and you are paying too much, I think you could even do $275!!


#7

How would I get that done though? How would that look like on paper? Thanks so much for replying


#8

Solid deal!


#9

You’re being sarcastic right?


#10

He’s absolutely being sarcastic.

It’s a terrible deal on a vehicle which is hard to lease. As a side note, your calculator should show 62% for the residual and .00240 for the MF. This MF alone will make it hard to get down to your desired $300 a month.

You can play around with the calculator and figure out what % off MSRP you need the sales price to be in order to land where you’re comfortable. You could then send those numbers to the dealer and see if they can make it happen, but again I think you’ll be hard pressed to land at 300 with these guys if this is their original offer.


#11

Thanks. And I’m assuming a down payment is a bad idea? Should I try to pay just the usual dealer fees and tax to drive it off?


#12

Most everyone will advise against a down payment, which is different than due at signing, or your drive off amount. A lot of dealers use the terms interchangibly but money down applies to cap cost reduction, in a sense paying the depreciation of the lease ahead of time so you have lower monthly payments. This is a bad idea because you can lose that money should your vehicle be totaled. You’re better off keeping that money and letting GAP coverage help out as needed. You can also look into multiple security deposits which are an option to reduce the money factor, but vary from manufacturer to manufacturer.

Drive offs will basically cover things like your first month payment and fees. If you can get these covered or rolled into your monthly payment then you’re basically looking at a sign and drive where you don’t need to pay anything up front. These typically aren’t a ton of money, especially on a car like this under $30,000, so it wouldn’t matter a ton to pay them up front. In fact, I think most dealers would make you pay them.


#13

I think 300 a month for 3 yr 12000 mi with zero drive off should be possible if u have top credit… Its a great car ,my wife has leased 3 of them since 08


#14

If you can get it, awesome. I’m just seeing a high money factor and no incentives, at least listed on Edmunds. Getting to 300 will mean a steep discount off MSRP which I assumed they won’t do considering their initial offer was only 500 off. Like I said, play with the calculator to see what % off MSRP you need and ask them if they can do it. I’d also look into any other Honda dealers in the area. Have you considered any other vehicles? The 2019 Forester has a strong residual and much better MF than this CRV. Could be an option worth looking into.


#15

Thanks to everyone who have replied.
So I’ve played around with the calculator and can’t find a way to get close to $300 monthly payment. Can anyone give me an example of a good deal for this car?

Also does anyone know what “customer cash-$1,500” is referring to on the quote I received? And the security deposit is $475 which the salesman said is non-negotiable, but I’m not sure I believe him.

Thanks


#16

Customer cash is a rebate. Go to another dealer you’re wasting your time with this one. Equinox leases much better. CR-V is tough to get a good deal on


#17

I think it refers to your down payment. 1500 down covers security deposit, first month, and upfront charges. 1500 - those 3 leaves you with the 61 applied to cap cost reduction. Speaking of, did they discuss the security deposit with you?


#18

Yeah I asked, the salesman said the security deposit is part of the lease and it’s non negotiable.

Anyone have an example of how to make the numbers work with zero drive off and around $300 monthly payments? Someone above said the money factor for this car is .002400 and the residual is 63%. Where can I verify this?


#19

Create an account and post here: https://forums.edmunds.com/discussion/53746/honda/cr-v/2019-honda-cr-v-lease-deals-and-prices/p7


#20

Thx will do