2021 Honda CR-V AWD EX-L 36/12 for $399 DAS $399 monthly. Is this a good deal?

Ask the Hackrs
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1

First time leasing a car. I was trying to get the invoice price for the model mentioned from a dealer, which has an MSRP of $34,325. Was told that the invoice price is $39,720 due to market adjustment. What is a market adjustment and is this normal/to be expected when leasing in the current climate?

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They lied. Theyā€™re just marking the selling price up. Market adjustment is what theyā€™re marking up the vehicle, and no, 15% over msrp isnā€™t normal on a crv.

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Find any other dealer willing to work a deal on the CR-V Hybrid.

Why not just look for the CR-V with the 1.5T? You will definitely find better deals on that.

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What is a market adjustment though? Is it normal and should I expect it with any dealer and with any make or model in the current climate?

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Itā€™s the dealer saying ā€œIā€™m going to charge more than msrp because I think I can get itā€. It isnā€™t a formal thing.

I would not expect every dealer to be marking up their crvs that much.

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It used to be known as

  • Over MSRP
  • Over Sticker
  • The rip off charge
  • The OMG you paid that? We gonna party tonight charge.
  • My GM needs some money to gamble at Vegas.
  • I need a new Porsche and you are going to help pay for it charge.
  • Pure Profit

Basically, they think you will pay extra cash for this. Like going into Whole Foods instead of Kroger and buying the exact same loaf of bread, but paying $2 more for it.

Itā€™s just a name ā€˜Market Adjustmentā€™, they couldā€™ve put ā€˜We Crap on you Chargeā€™ and it means the exact same thing.

Itā€™s usually followed in Finance with $350 Alarm or $300 Ceramic Protector or $125 Wheel locks as well. (Another almost Pure Profit center)

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ā€œWhole Foods, whole paycheckā€

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My friend just purchased an EX-L hybrid a week and a half ago. He got lucky and the dealer around the corner had one. They initially tried getting him for $1k over sticker. He wound up getting it for $500 under and a great price for his trade.

With all of that being said, inventory is very light around here. Dealers either had nothing, a few on their site that have long be pre sold, or requested he order one. I just bought a RAV4 hybrid 3 weeks ago and had the same experience.

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Whole Foods via Amazon Prime has saved me a ton of money during COVID. They offer free delivery/free pickup, and with the 5% Amazon credit card discount, it is much less expensive than using Instacart to shop at lower priced stores.

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I justā€¦cant. The Whole Foods near me is just so
much more expensive than Trader Joes, Sprouts, etc that I just cant go there :blush:. They do have quality stuff though, no doubt.

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I mean there are Toyota dealers here can sell Rav4s below MSRP not sure what market CRV is adjusting to. Donā€™t honor this type of practices, we are all voting with our wallets.

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Picked the worst time in leasing history to dip your toe

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Why is now the worst time?

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In plain language itā€™s an additional amount on top of MSRP that the dealer wants you to pay based on demand for the vehicle you want.

If you buy an event ticket on StubHub, you may pay $400 for a ticket with a $250 face value, as an imperfect analogy.

In normal times, most models do not even command MSRP, but these are not normal times.

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So what do you think is the worst case in the current climate (for a gas 2021 CR-V)? Zero percent discount off of MSRP? Or is it still reasonable to expect a 5-8% discount? Iā€™ve found deals with >9% discounts off MSRP in the forum, but Iā€™m not sure if they still apply currently.

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Bay Area dealers are basically all charging markups on CRV Hybrids now. Similar situation with RAV4 Hybrids in my recent experience.

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I think you could probably get a discount on a gas CRV, and a Hybrid CRV would be ā€œa July 2021 dealā€ at MSRP and buy rate.

If you are leasing, I doubt you will break even (forget come out ahead) on a Hybrid vs gas.

19

Same thing in Southern California. One of the biggest dealers here, which in the past used to have close to 1,000 new vehicles listed on their website, has 74 listed today. Only 13 are CR-Vā€™s, none of which are hybrids.

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Iā€™m looking in FL for the exact deal, and have gotten about $1k off MSRP at best, or MSRP at worst. But remember that we do have about $1k in dealer and doc fees, so itā€™s a wash. But not $5k marked upā€¦