Last post on Dec 03, 2013 at 11:31 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Odyssey, Van
#18358 of 30568 Re: Bought 2008 Touring w/o PAX in Seattle [obrien040362]
Feb 16, 2008 (11:29 pm)
The residual was 56%. I expect that the van will be worth more than that at lease-end, so I may have some equity toward the next car at lease-end.
Leasing can be better or worse than purchasing--there are lots of factors: the car, your financial situation, your expected usage of the car, how much the lease (or purchase) is subsidized by the manufacturer and how (lower money factor vs. elevated residual), how much you dislike negotiating trade-ins, the uncertainty about depreciation on a particular car, your attitudes about risk, etc. The list goes on and on, and the factors are different for different people.
Personally, I've been burned a couple times on unexpectedly high depreciation on cars (a 1999 Range Rover being the worst example), so I prefer to let the leasor take that risk. If they set the residual too high, the car will be worth much less than the residual value at lease-end and you will have paid less for the depreciation on the car than you would if you purchased it. In my opinion, this is one of the major advantages of leasing. If they set the residual too low, you will pay more during the lease, but you can make up some of that with equity left in the car at lease-end.
If Honda was doing something like 0% interest financing on purchases, I would have been more inclined to purchase. Same if they weren't subsidizing the money factor on Odyssey leases--.00113 (equivalent to 2.71% APR) is pretty hard to pass up, even with a residual value that I feel is a couple percentage points too low.
You make a valid point about maintenance--it's nice to have the car in warranty during your entire ownership period. My experience is that cars tend to have expensive repairs in years 4 and 5, coincidentally just after the warranty period ends. Not an issue if you have a 3-year lease.
#18359 of 30568 Re: 2008 Odyssey touring [yahawaha]
Feb 17, 2008 (6:12 am)
can you send me the quote? m.robinsonups.com hope to do as well as you
#18360 of 30568 Re: Odyessey EX-L DVD And NAV 31400 OTD [kkriso]
Feb 17, 2008 (7:24 am)
what was the break-up?
#18361 of 30568 Re: 2008 EX-L for 25725.00 [gfagori]
Feb 17, 2008 (7:31 am)
I confirmed the deal from the same dealership. Picked up my slate green EX-L without any addition yesterday.
Processing Fee: 89.00
No dealer installed options.
It was a absolutely hassle free process. I highly recommend the honesty of this sale manager. She also gave me trade-in price which is $500 higher than Carmax's offer. We are very happy about the entire process.
Most important thing was, she was able to handle the entire transaction (buy and sell) along, no harassment from the used-car manager and other managers like another dealership.
On the other end, a Bethesda, MD dealership told me to bring in the email offer and they will match it, which turn out to be a waste of our time.
BTW, we were able to get 2.9% finance for 60 months that was offered from Honda.
I hope the report will help other odyssey buyers.
#18362 of 30568 Re: 2008 EX-L for 25725.00 [maylin1]
Feb 17, 2008 (9:53 am)
Maylin1 - Can you please forward me the dealership name you purchase your Odyssey EX-L as well as the person you worked with for your:
Processing Fee: 89.00
No dealer installed options.
2.9% finance / 60 months
w/ trade in +500 over carmax
the deal i have been offered from landmark honda is:
I have a quote from Landmark Honda in Alexandria, VA of:
car price = CP= Honda Odyssey EXL = $26,038.70 (incl wheel locks and mud flaps)
tax + Tg = $1,213.85
freight = $635
processing fee = $385
thank you...my email address is jvastolajrATyahoo.com where AT =
Thank you so much for your assistance.
#18363 of 30568 EXL purchase 2008
Feb 17, 2008 (2:23 pm)
After more than 3 weeks of intensive research and emailing ( 68 emails...a few phone calls) 6 dealers and some car buying services we picked up our new van yesterday (after extensive negotiations)...paid $25937.95 + TTL etc...omitted taxes since they vary widely in most states. Dealer added mud guards, cargo tray, wheel locks, two free oil changes the first year and a full tank of gas. I am in North Central Florida and bought from the dealer in Ocala...the dealer was very responsive and we had an extremely good experience dealing with them...very friendly...no pressure at closing for anything else. In all a good experience. We really like it
#18364 of 30568 Re: 2008 Honda Odyssey (Touring - No Pax) - Bay Area, CA Prices Paid [adam25]
Feb 17, 2008 (3:57 pm)
To potential Ody buyers, what do you guys think of $37200 otd for 08 touring non pax?
#18365 of 30568 Re: 2008 EX-L for 25725.00 [toetalljim]
Feb 17, 2008 (4:42 pm)
You will get my email soon.
#18366 of 30568 Re: 2008 EX-L for 25725.00 [maylin1]
Feb 17, 2008 (4:49 pm)
Hi, that's a great price. Could you also forward me a copy of quote with the options installed as well as the salesman you handle your transaction? my email address: jliu6302yahoo.com. Thanks so much.
#18367 of 30568 Re: EXL purchase 2008 [hondawave]
Feb 17, 2008 (5:56 pm)
Nice to see some competition in Florida. And the doc fee charged by the Ocala dealer was how much?