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Honda Odyssey Lease Questions

1477 messages,  Last post on Oct 06, 2008 at 7:00 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

What is this discussion about? Honda Odyssey, Car Leasing, Van


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#1127 of 1477
EX-L in So Cal by cambrea
Apr 15, 2008 (9:51 am)
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I leased EX-L (no RES, no NAV) last weekend.
 
Sale price including destination: $28,982 (before $200 price match discount)
36 months, 15K mile/year.
Money Factor: 0.00095
Acq Fee: 595
No security deposit
No trade-in
No downpayment
 
Total Drive-Off: $480 (including first month payment, tax, etc.)
Monthly : $375 (indluding 7.75% tax, 35 payments)
#1128 of 1477
Re: Odyssey Lease [chinomonkey] by Car_man HOST
Apr 16, 2008 (2:13 am)
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Replying to: chinomonkey (Apr 14, 2008 7:00 pm)

Hi chinomonkey. All of the deals that you mentioned look outstanding. Not only is the dealer using Honda Finance's best money factor to calculate these payments, but they are based upon selling prices that are below dealer invoice.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#1129 of 1477
Re: Car_man: Odyssey LX 36mo lease? [passat_mx] by Car_man HOST
Apr 16, 2008 (2:15 am)
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Replying to: passat_mx (Apr 14, 2008 9:13 pm)

Here you go, passat_mx. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Odyssey LX with 12,000 miles per year are .00095 and 58%, respectively for consumers who qualify for its top credit tier and pay a security deposit at lease signing. I do not believe that Honda is currently providing any cash incentives on leases of this model.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#1130 of 1477
Re: What is RES [ra1211] by Car_man HOST
Apr 16, 2008 (2:20 am)
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Replying to: ra1211 (Apr 15, 2008 5:17 am)

Hi ra1211. The dealer can't be using a selling price of $28,730 to calculate your van's lease payment. That price is several thousand dollars below dealer invoice. The only way to get there would be to use the $2,000 dealer cash that Honda is currently providing on the '08 Odyssey, but this cash is not compatible with Honda Finance's special lease program. A selling price $28,730 on a 36 month lease of an '08 Odyssey EX-L w/RES would result in a lease payment of only $308.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#1131 of 1477
Re: Honda Odyssey EX-L with RES [matsang] by Car_man HOST
Apr 16, 2008 (2:23 am)
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Replying to: matsang (Apr 15, 2008 8:45 am)

Hello matsang. A lease payment of $391 per month for a 36 month lease of a 2008 Honda Odyssey EX-L w/RES and 12,000 miles per year definitely is a good deal. The dealer probably used Honda Finance's buy rate lease money factor and a selling price of around $400 over dealer invoice to arrive at this payment.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#1132 of 1477
Re: EX-L in So Cal [cambrea] by Car_man HOST
Apr 16, 2008 (2:24 am)
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Replying to: cambrea (Apr 15, 2008 9:51 am)

Congratulations on getting your new Odyssey, cambrea. Thanks for taking the time to share the details of your lease with everyone. Real world examples like this are always extremely helpful for others who are in the market for similar vehicles. Enjoy your new ride.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#1133 of 1477
Re: EX-L in So Cal [cambrea] by chinomonkey
Apr 16, 2008 (4:20 am)
Reply

Replying to: cambrea (Apr 15, 2008 9:51 am)

Congrats Cambrea,
 
You did better than me. My EXL was $29,152 which was $1000 under invoice, using the Honda $1000 to dealer incentives on leasing deals. I also had a trade in of 2001 Audi Allroad for $10,000 which I am allowing them chance to make $$$ on. But You got $1,200 off invoice than 15K miles per year and a monthly payment of $375! Did the dealer use the residual other than the 57% which is listed by American Honda?
 
I guess if I add in the free rubber mats, You paid $648 less than me....My calculation is I paid $200 more on invoice, - $200 for the rubber mats my dealer threw in, + $648 on 3K milage adjustment = $648 I would have paid more.
 
Great Job! I learned there is always more room to negotiated!
#1134 of 1477
Odyssey Lease EX-L w/ RES and NAV by cdb1397
Apr 16, 2008 (7:51 am)
Reply
Was quoted the following by a SoCal dealer:
 
Invoice ($33,378) less holdback ($800) for cap cost of $32,578
 
(dealer says this is all they can do as there's no dealer cash incentive when using the .00095 special money factor)
 
RV=54%
MF=.00095
Acq Fee of $595
(Dealer says this is non-negotiable, although I don't understand why Honda Fin. needs $600 to push paper from the dealer to the finance company)
 
36mo/12mi
 
Pmt would be $442/mo.
 
Where would there be room (and best liklihood) for further negotiation in the above? Or can I just push for free oil change coupons and floor mats at this point?
#1135 of 1477
Honda Odyessy 24 month lease by varunku
Apr 16, 2008 (5:25 pm)
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Replying to: cdb1397 (Apr 16, 2008 7:51 am)

Anyone lease a odyessy for 24 m/ 12k ? I would need the vehicle only for two years. Is it going to be a lot more expensive compared to 36 month lease ?
#1136 of 1477
Thanks for info, leased an Odyessy today by dmiller21
Apr 17, 2008 (5:30 pm)
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Using the info I gathered on this sight I leased an Odyssey EXL with RES for 356.93. I traded in my Pontiac Aztec and got 3000 for it and I was able to negotiate to a price about 500 below invoice. I also added the Honda Centinel protection which cover the car up through the 45,000 miles. In the end I will pay 372/ month for the next 35 months. There was no security and my trade in cover all closing costs and first months payment. Feel like I got a pretty good deal. Definately helps to go into dealer with all info about residuals and money factor, etc., Thanks

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