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Prices Paid: Buying & Leasing Experiences Honda Odyssey Prices Paid and Buying Experience
21039 messages, Last post on Nov 22, 2008 at 12:20 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: hondajapan (Jan 22, 2007 6:47 pm) |
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Replying to: ellieandmommy (Jan 11, 2007 8:43 am) Thanks zjohnw  yahoo.com
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The posts in the forum were very useful. I received many good price quotes thru the internet. Riverside Honda accepted a $25k bid for the EX but wanted 26,200 for the 0.9% financing. I think they knew that people would ask for the financing and so accepted the low bids. Penske Honda in Ontario provided a solid quote for the EX for 25,400 including the financing. They were nice enough to provide quotes for the LX and EXL as well. Other quotes ranged from 25,800 to 26,400. I purchased from my local dealer who promised to match any written offer. In the end they pulled off the same trick of saying financing was extra. Finally settled for $25,500 (or 28k OTD). Next time I will probably go the miles to Penske. Thanks for everyone's messages.
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Greetings, I posted this to the Odyssey lease questions board, but there isn't much activity there so I hope it isn't bad form to post this here... Regarding the lease offer from honda at: http://automobiles.honda.com/tools/current_offers.asp?Function=new I'm getting different numbers than the dealer and I'm trying to figure out why. Here is what I'm working with for a 2007 Odyssey EX-L RES: MSRP: 33,290 Residual: 18,309 Cap cost: 30,000 (what I assume I can negotiate) Cap cost reduction: 1,625 (This is in the offer details for those who qualify for the AHFC Super Preferred credit) Down: 875 (I was told the 1625 came out of the amount down so 875 is 2,500 - 1,625 based on how I interpret the offer) Adjusted cap cost: 27,500 Money factor: .00158 (what my rep told me the new rate was.. woo hoo!) NY Tax: 8% Using the lease calculator ( http://www.leaseguide.com/calc.htm ) I get a value of 353.89 per month for a 36 month/12k lease (For cap cost reductions I had put in 875 as down payment and 1625 in 'Other'). Can anybody tell me if these ball park numbers seem correct or if I'm doing something way wrong? Should I be able to lease a 2007 EX-L RES for around this price in NY based on these values? Thanks! Claude
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Replying to: claude618 (Jan 23, 2007 12:33 pm) So, your CAP cost should be around $875 higher than what you calculated (assuming you can get that selling price). Something to note.. In the lower priced example, they are assuming about a $1700 discount from MSRP.. Your number are assuming a $3300 discount (albeit, on a more expensive model). Try it that way, and see what you get..
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Replying to: kyfdx (Jan 23, 2007 12:44 pm) Thank you very much for responding. Assuming I'm wrong about the fact that I can get it for 30,000 I do have a deal out there for 31,137. If I plug those numbers into the current lease deal which mentions 2500 down, I get the following: MSRP: 33290 Base cap cost: 31137 Cap cost reductions: 1625 Money down: 2500 Money factor .00158 NY Tax: 8% I get a monthly payment of 389.94. If I do no money down, this number goes to 469.22 The dealer calculated this out (with no money down) and came back to me with $512 per month. I am curious why we are so far off. Thanks!
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Replying to: claude618 (Jan 23, 2007 1:33 pm) Given that, and a 55% residual, I get $387/mo.+ tax.. Or.. around $420/mo.. Why is your dealer's payment higher? Not sure... Maybe his version of the $2500 upfront includes: $512 1st payment, $525 security deposit, $595 acquisition fee, $300 doc fee, $400 DMV fees, etc, etc.. So, with no cap cost reduction and the 8% tax.. Nah... I can still only come up with around $471/mo.. Sounds like something extra in there.. regards, kyfdx
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Replying to: kyfdx (Jan 23, 2007 2:04 pm) Yes... the MSRP is: 33290 Negotiated deal: 31137 He told me the residual value was: 18309 I ran this again with no money down and came up with $418. Right around what you got. I think my sales rep is either unfamiliar with lease deals or is not as reputable as I had hoped. I'll update when I have more. Thank you again! This is a big help. |
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Replying to: meansplus (Jan 21, 2007 6:49 pm) 
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