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Honda Odyssey Lease Questions

1820 messages,  Last post on Nov 11, 2009 at 4:52 AM

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

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#1493 of 1820 Odyssey Lease question by yoyo77777 Oct 18, 2008 (9:23 am)
This is what local dealer is advertising 2008 Odyssey (model RL3828EW)for $239.00 per month for 36 months with $1,999 Drive Off CostThis Program Can Be Used in conjunction with: HP-642A "2008 Odyssey $2,500 Dealer Cash"   Is this a good deal? Does this mean I can use $2500 to pay $1999 drive off cost? Thanks for any help.
#1494 of 1820 Re: New lease #s for EXL w/wout RES [slhouse1] by Car_man HOST Oct 22, 2008 (4:26 pm)
Replying to: slhouse1 (Oct 16, 2008 6:58 am) You're very welcome, slhouse1.   The methodology for how sales tax is calculated varies from state to state. Where I live, sales tax is only charges on the difference between the value of one's trade and the selling price of the new vehicle. I'm not sure how this works in Illinois, but you may be able to find out at one of the following sites:   CyberDrive Illinois   or   Illinois Department of Revenue   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#1496 of 1820 Re: New lease #s for EXL w/wout RES [slhouse1] by spankspank Oct 23, 2008 (7:28 am)
Replying to: slhouse1 (Oct 16, 2008 6:58 am) I'm currently in a lease - using it as a trade.   I don't understand that part of your post.     Wouldn't you have to purchase your existing leased vehicle before you could use it as trade? Or does the lease company sell to the dealership directly? Otherwise, that sale alone would have tax charged, right? Illinois car dealers are exempt on their buys, but you must pay it. Replies to this message: slhouse1 (Oct 23, 2008 7:58 am)
#1497 of 1820 Re: New lease #s for EXL w/wout RES [spankspank] by slhouse1 Oct 23, 2008 (7:58 am)
Replying to: spankspank (Oct 23, 2008 7:28 am) Sorry I wasn't clear. You would have to purchase the lease vehicle before using it as a trade. Essentially, the selling dealer is "purchasing" the vehicle (for the lease payoff) and giving a "trade" allowance. I don't think LFS (Lexus Financial) cares where the payoff comes from. The bonus on that is the dealer is exempt from Sales Tax on the lease payoff.   Either way, it all worked out as I had hoped. Thanks to all for your responses.
#1498 of 1820 Oddysey Touring Lease prices by honmom Oct 28, 2008 (1:13 pm)
Hello and thank you ever so much!   Received these out the door prices.   09 oddysey touring without pax:    $36,434.83 sales tax 7% 2550.44 tire tax 7.50 reg/plates 354.00 (estimated) online processing 6.00 documentation 219.00   Out-the-door: $39,571.77   . 08 oddysey touring w/pax MSRP: $41,280.00 Internet price: $33,102.58, out the door same fees as above.   Please let me know what i should be paying for a 36 month lease, 0 down. i was told .003 money factor and $21359 residual. they didn't include acquisition either.   I have approval for these amounts plus letter stating no security deposit.   I really appreciate your help! Replies to this message: Car_man (Oct 30, 2008 3:27 am) honmom (Oct 30, 2008 5:49 am) Car_man (Oct 30, 2008 3:42 pm)
#1499 of 1820 Re: Oddysey Touring Lease prices [honmom] by Car_man HOST Oct 30, 2008 (3:27 am)
Replying to: honmom (Oct 28, 2008 1:13 pm) Hi honmom. Let's crunch some numbers and work up a payment for you. According to my calculations, if you were to lease a 2008 Honda Odyssey Touring with PAX that has an MSRP of $41,280 and a selling price of $33,102.58 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $523, assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. If you were to lease with only 12,000 miles per year, this van's payment would drop to around $502.   I cannot work up a lease payment on the 2009 Odyssey that you described because I do not know its MSRP. Both the MSRP and selling price are necessary for the calculation. If you let me know what it is, I'll work up a lease on it for you.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: honmom (Oct 30, 2008 5:49 am) Car_man (Oct 30, 2008 3:42 pm)
#1500 of 1820 Re: Oddysey Touring Lease prices [Car_man] by honmom Oct 30, 2008 (5:49 am)
Replying to: Car_man (Oct 30, 2008 3:27 am) Thank you for yur help!   I just found the formula on Edmunds .com and will try to figure on my own. I will see if it matches what you say. When you say pre-tax do you mean before tax and I should pay tax up front, and on what number?   Here is the latest and greatest quote with msrp. I am sure we are in the super credit tier. Note: we have pre-approval and waiver of security deposit.   09 Oddysey touring no pax. msrp $40,405   36 months 12,000 miles per year $563.05/month with tax included.   The total due at signing is $1,018.05, includes the first payment, registration/ plates for 3 years ($262.50), NJ tire tax ($7.5) and the document.fee ($185).   The lease is based on a selling price of $36,250. includes destination and delivery fee. Replies to this message: Car_man (Oct 30, 2008 3:42 pm)
#1501 of 1820 Re: Oddysey Touring Lease prices [honmom] by Car_man HOST Oct 30, 2008 (3:42 pm)
Replying to: honmom (Oct 30, 2008 5:49 am) You're very welcome, honmom. FYI, you're in luck Honda just made an unscheduled enhancement to the Odyssey's lease program yesterday. Its buy rate lease money factor for a 36 month lease of it is now .00161.   As far as sales tax goes, the method for calculating it varies from state to state. If you tell me what state you are in, I should be able to give you an idea of how it is calculated in your area or at least point you in the right direction.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#1502 of 1820 leasing prices 08 or 09 EXL-RES by redly_one Oct 30, 2008 (4:48 pm)
Hello,   I live in eastern iowa, and have been emailing various dealers in the region trying to find a good deal on an Ody lease.   I've got a credit score in the 700s (729 TU). Just curious what a good deal on a lease would be for an 08 EXL-RES for 36mo, 12k. Assume $0 down, 5% tax on full purchase price.   If anyone has any input, I would greatly appreciate.   Thanks!

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