2007 CR-V Lease Deals

[provench]

I know there are many factors that go in to it so post what you can around residual, price paid, lease factor, term in months, miles, etc.

I have seen a few comments on lease payments and really wondering how well these models do for leasing.

Please post any experiences.

[bing]

Here's what I know:

Cap cost - This is the lowest price the dealer is willing to sell the CR-V. Negotiate as if you are buying the vehicle. Leasing has nothing to do with this number.

Residual - this is set by Honda Financial and basically sets a value of how much the CR-V is worth after X number of years. The longer you keep the CR-V, the lower the residual.

Term - 36 months, 39 months, 48 months, 60 months. This determines how long you'll be keeping the vehicle.

Money factor - this is the cost to finance the vehicle over the period of time. Factor changes as you go from 36 months to 48 months.

Cap cost reduction - aka downpayment. This is the amount of money you put down to reduce your monthly payment.

If it was me, I'd go for the lowest cap cost with zero down. 36 months is good as your CR-V would still be under warranty and you don't have major service costs. Honda has no lease return fees and your total cost of ownership is pretty good.

However, given that the CRV hold it's value well, leasing may not be all that attractive since your total monthly payments may be higher than what your car is worth at the end of the lease.

For me, I'd buy a CR-V and sell it in a few years!

Hope this helps.
Bing

[Visiting_Guest]

NEVER GIVE A DOWNPAYMENT ON A LEASE - KEEP THE 2 GRAND AND USE IT TO PAY THE MONTHLY PAYMENT.

downpayment is just front end money for the dealer to save u a few bucks a month, consider it a total loss. You will return the car in 3 years 2 grand more in the hole with nothing in return

always negotiate a lease with nothing down and work from there, since its a Honda, they will balloon what the car is worth in 3 years.

Buy the CRV if you can, its worth it in the long run and its a good investment & affordable

[mcbeevee]

Also, there are mileage restrictions. I have a 12K annual mileage restriction on my lease, since I usually drive <10K/year. I think the norm is 15K/year. :)

[bernse]

NEVER GIVE A DOWNPAYMENT ON A LEASE - KEEP THE 2 GRAND AND USE IT TO PAY THE MONTHLY PAYMENT.
Careful with that. If putting down an extra $2K saves you over $2K in total on your payments, you may want to consider it.

However, if it doesn't save you what you put into it, I'd agree. Don't.