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Honda Odyssey Lease Questions

1439 messages,  Last post on Aug 30, 2008 at 5:41 AM

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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#1301 of 1439
Re: EX Lease in NJ [chbar] by psjoiner
Jun 28, 2008 (2:38 pm)
Reply

Replying to: chbar (Jun 23, 2008 2:08 pm)

I just leased an EX (with just the usual dealer installed junk - cargo liner, pinstripes, etc.).
 
$289 month + tax
$800 down
 
Airport Honda in Knoxville, TN
#1302 of 1439
Is this a good deal? by jent516
Jun 29, 2008 (5:38 pm)
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Hi Car Man (and everyone):
 
I am about to lease a Touring and wanted to run these number by you all before we sign anything. This is our first minivan (leaving a Volvo XC90):
 
MSRP: $40, 680
Price: $37,385
Money Factor: .00077
Residual: $21,967.20 (so 58.75%)
 
36 months, I am in PA (9%), $696 down (this is 1st payment and tags), $535.15/month inclusive.
 
The dealer told us this is $500 over invoice.
 
Thoughts? Do you think we can negotiate this down a bit more? Perhaps to $100 over invoice?
 
Ideas for what programs may be like after July 7th? (We made our last payment on the Volvo but have it until the 25th of July)
 
Thanks!
 
Jen
#1303 of 1439
New EX just leased by docmri
Jun 29, 2008 (6:24 pm)
Reply
Got new EX today .
 
289/m + tax (6.5%) = 307/month
ZERO DOWN.
due at signing was first month and tags (total of $307+$246)
 
Thanks for info that helped me get this great deal!
 
in southern FL
 
Dan
#1304 of 1439
Re: Is this a good deal? [jent516] by jpappas
Jun 29, 2008 (7:57 pm)
Reply

Replying to: jent516 (Jun 29, 2008 5:38 pm)

How many miles on that Touring lease?
#1305 of 1439
Re: Is this a good deal? [jent516] by jent516
Jun 30, 2008 (4:24 am)
Reply

Replying to: jent516 (Jun 29, 2008 5:38 pm)

sorry, forgot that! 12,000/year
#1306 of 1439
Re: Is this a good deal? [jent516] by emilt
Jun 30, 2008 (7:11 am)
Reply

Replying to: jent516 (Jun 29, 2008 5:38 pm)

Here's the deal I got in NYC:
'09 Touring (no PAX)
36mo / 12K / AHFC lease
MSRP: $37520.93
Price: $35,444.16
Residual: $21,948.30 (58.5%)
Money Factor: 0.00115
Monthly Payment: $478.36
Downpayment: $0
First Payment: $603 ($478+NYDMV fees)
 
So it looks like you can do better.
#1307 of 1439
Re: Is this a good deal? [emilt] by jent516
Jun 30, 2008 (2:34 pm)
Reply

Replying to: emilt (Jun 30, 2008 7:11 am)

emlit -- your msrp seems very low for this vehicle. Isn't the msrp fixed by Honda? I'm just not sure how you got that number, which would obviously make the payment lower. Also, what is the tax rate in NY?
 
Thanks!
#1308 of 1439
Re: Is this a good deal? [jent516] by emilt
Jun 30, 2008 (9:25 pm)
Reply

Replying to: jent516 (Jun 30, 2008 2:34 pm)

Copied the MSRP off the lease agreement but I could have made a mistake. I will double check tomorrow. I know it's counterintuitive but all other things being equal (sales $, money factor, residual %) higher MSRP would actually lower your payment by raising residual value since it's calculated using MSRP and not on sales price. The only thing I am not sure about is whether 2K support would be reflected in MSRP. If that's the case the number I posted would be off by about 1K if you trust Edmunds.
I think the tax rate where I am is 8.75%. I will check that too and post.
 
#1309 of 1439
Re: Residual and Money factor on EX-L with NAV and RES [phaltraz] by Car_man HOST
Jul 02, 2008 (4:09 am)
Reply

Replying to: phaltraz (Jun 27, 2008 12:53 pm)

You're very welcome, phaltraz. The two main profit centers for dealers, your vehicle's selling price and its money factor look great. If you like the van, I personally don't see any reason not to pull the trigger on this deal.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#1310 of 1439
Re: New EX just leased [docmri] by Car_man HOST
Jul 02, 2008 (4:14 am)
Reply

Replying to: docmri (Jun 29, 2008 6:24 pm)

Congratulations on getting your new Odyssey, Dan. I'm glad that you found this discussion helpful. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride!
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

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