My Take: I’m on a roll here, aren’t I? The next victim would be the Honda CR-V. Excellent compact SUV, probably wouldn’t mind getting one myself. But I don’t think I would be leasing one any time soon. 0.0250 or 6% APR is a bit too high for my tastes. Surely the high residual value helps offset the high money factor, but I think the moons and the stars have not aligned properly to make this a “must lease” this month. The only good news about the CR-V is that invoice pricing (or below) should be attainable in most areas with decent competition. There is $500 dealer cash available (not much in the grand scheme of things) and purchase financing options are around 5.99% for 60 months, which is crap in all honesty. If you buy, pay cash. Otherwise maybe lease for 24/36 months if you REALLY have to. Personally, I would wait to see what the month June brings.

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2009 Honda CR-V

2009 Honda CR-V 4WD EX
24-month | 15k miles | residual 67% | .00250 base money factor
36-month | 15k miles | residual 59% | .00250 base money factor
48-month | 15k miles | residual 50% | .00305 base money factor
60-month | 15k miles | residual 40% | .00310 base money factor

2009 Honda CR-V 4WD EX-L
24-month | 15k miles | residual 64% | .00250 base money factor
36-month | 15k miles | residual 56% | .00250 base money factor
48-month | 15k miles | residual 47% | .00305 base money factor
60-month | 15k miles | residual 38% | .00310 base money factor

2009 Honda CR-V 4WD EX-L w/ Navigation
24-month | 15k miles | residual 62% | .00250 base money factor
36-month | 15k miles | residual 55% | .00250 base money factor
48-month | 15k miles | residual 46% | .00305 base money factor
60-month | 15k miles | residual 37% | .00310 base money factor

2009 Honda CR-V 4WD LX
24-month | 15k miles | residual 66% | .00250 base money factor
36-month | 15k miles | residual 59% | .00250 base money factor
48-month | 15k miles | residual 50% | .00305 base money factor
60-month | 15k miles | residual 39% | .00310 base money factor

My Take: The money factor is a bit high on the CR-V, but that isn’t unexpected. The good news is that the residual value is very high and you probably don’t have to pay full MSRP for this car. Special financing is also available so be sure to take a look at that. I believe it’s 3.9% for up to 60 months. There’s a college graduate program as well, but it isn’t really worth mentioning since the APR is a bit high.

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			At Invoice		At MSRP
Make/Model	Invoice	MSRP	24-month	36-month	24-month	36-month
09 Honda CR-V 4WD EX	$23,508	$25,215	$371	$340	$448	$392

NOTE: Estimates assuming the following conditions:

• Inception fees (1st month payment, DMV, doc fee, bank fee, tire tax and possible security deposit) will be paid at signing.
• Local Taxes not included.
• 24-month/15k and 36-month/15k terms.
• All cars are stock, without any options.

2009 Honda CR-V December Lease Rates

2009 Honda CR-V 4WD EX
24-month | 15k miles | residual 70% | .00310 base money factor
36-month | 15k miles | residual 62% | .00310 base money factor

2009 Honda CR-V 4WD EX-L
24-month | 15k miles | residual 68% | .00310 base money factor
36-month | 15k miles | residual 58% | .00310 base money factor

2009 Honda CR-V 4WD EX-L w/ Navigation
24-month | 15k miles | residual 66% | .00310 base money factor
36-month | 15k miles | residual 56% | .00310 base money factor

2009 Honda CR-V 4WD LX
24-month | 15k miles | residual 70% | .00310 base money factor
36-month | 15k miles | residual 62% | .00310 base money factor

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My Take: The numbers aren’t looking very good on the Honda CR-V this month, so I’m not going to bother estimating payments, unless it’s requested. The residual is strong, but the MF is Honda’s standard rate, which means no lease support. Can’t blame them, the CR-V is a solid crossover SUV that’s fair efficient with gas and has pretty good cargo space. It’s not bad to look at either. I think the sweet spot (if you can call it that) would be the 36 and 48 months since the residual values drop “only” about 8%.

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2008 Honda CR-V LX 4WD
24 Month – Residual 67% of MSRP – .00370 Base Rate
36 Month – Residual 59% of MSRP – .00270 Base Rate
48 Month – Residual 51% of MSRP – .00255 Base Rate
60 Month – Residual 41% of MSRP – .00270 Base Rate

2008 Honda CR-V EX 4WD
24 Month – Residual 68% of MSRP – .00370 Base Rate
36 Month – Residual 59% of MSRP – .00270 Base Rate
48 Month – Residual 51% of MSRP – .00255 Base Rate
60 Month – Residual 41% of MSRP – .00270 Base Rate

2008 Honda CR-V EX-L 4WD
24 Month – Residual 63% of MSRP – .00370 Base Rate
36 Month – Residual 57% of MSRP – .00270 Base Rate
48 Month – Residual 48% of MSRP – .00255 Base Rate
60 Month – Residual 39% of MSRP – .00270 Base Rate

2008 Honda CR-V EX-L w/Navigation 4WD
24 Month – Residual 62% of MSRP – .00370 Base Rate
36 Month – Residual 55% of MSRP – .00270 Base Rate
48 Month – Residual 46% of MSRP – .00255 Base Rate
60 Month – Residual 38% of MSRP – .00270 Base Ratee

Rates provided by Tarry Shebesta from Leasecompare.com

2008 Honda CR-V LX 2WD
24 Month – Residual 66% of MSRP – .00370 Base Rate
36 Month – Residual 59% of MSRP – .00270 Base Rate
48 Month – Residual 50% of MSRP – .00255 Base Rate

2008 Honda CR-V EX 2WD
24 Month – Residual 66% of MSRP – .00370 Base Rate
36 Month – Residual 59% of MSRP – .00270 Base Rate
48 Month – Residual 50% of MSRP – .00255 Base Rate

2008 Honda CR-V EX-L 2WD
24 Month – Residual 62% of MSRP – .00370 Base Rate
36 Month – Residual 57% of MSRP – .00270 Base Rate
48 Month – Residual 48% of MSRP – .00255 Base Rate

2008 Honda CR-V EX-L w/Navigation 2WD
24 Month – Residual 61% of MSRP – .00370 Base Rate
36 Month – Residual 55% of MSRP – .00270 Base Rate
48 Month – Residual 46% of MSRP – .00255 Base Rate

* Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
** Rates provided by Tarry Shebesta from Leasecompare.com

My Take: Not the best MF right now. Buying isn’t look that much better since there isn’t any special financing available either. If you can afford to wait on the CR-V, I would recommend doing so.

EX AWD
36mo/12k – residual 63% – money factor .00235
36mo/15k – residual 61% – money factor .00235

EX-L AWD
36mo/12k – residual 62% – money factor .00235
36mo/15k – residual 60% – money factor .00235

*security deposit may be required

My Take: The residual value seems to help offset the high money factor in this case. This is a nice compact SUV that gives pretty decent gas mileage. The rims on the “cheaper” version of this car are very unattractive if you ask me. The EX-L’s rims are FAR better looking, so if you can afford this model, do it. My cousin’s girlfriend recently purchased this vehicle and got a nice sale price of approximately $24500 + tax and licenses. Not bad considering it’s MSRP is in the $29,000s.