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Prices Paid: Buying & Leasing Experiences Honda Odyssey Lease Questions
1834 messages, Last post on Dec 01, 2009 at 6:14 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I currently lease a Honda Odyssey and the 3 year lease is about to come to an end. The mini van is in relatively good condition - just some minor scratches and normal wear and tear. I'm considering on leasing another Odyssey EXL 2009 with DVD and Navi. The dealer (in Long Island - NY) quoted me $550/month, 12K and 36 months. Do you think this is a good deal? What is the current money factor and residual being offered for this car? They kept persisting that I consider the 2008 model, but I wasn't interested as I wanted to just focus on the 2009. Should I get any discount for being a previous customer (the Long Island dealer didn't mention anything to me)? Any suggestions will be helpful. Thanks.
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Replying to: jeffrey0707 (Nov 02, 2008 7:11 pm) car-man can tell you best though, i'm no expert.right car-man? my dealer said residuals are changing as of nov 3rd, today, not to the buyers advantage he said. |
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I got this deal...and not sure if its a good one at all. I need your advice please....mom to triplets and i need a good deal and not someone taking advantage of me. down payment 2500 monthly lease 395 42 months 12,000 miles a year should i take it?? thanks!
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Replying to: jeffrey0707 (Nov 02, 2008 7:11 pm) The easiest way to analyze the deal that you were quoted would be to take a look at this van's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what the selling price is, it is difficult to tell how much of a discount you are being given. Let us know what this number is and I am sure that either myself or another knowledgeable community member will be happy to give you their opinion on it. I don't believe that Honda is offering any special incentives for loyal customers on the '09 Odyssey right now. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: kathyz24 (Nov 03, 2008 6:55 pm)  . No wonder you need a minivan. The best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the vehicle that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor. You should be able to get an idea of how much you will have to pay for an 2008 Odyssey right now by hopping on over to the "Honda Odyssey Prices Paid and Buying Experience". If I was in the market for this vehicle right now, I personally would shoot for a couple hundred dollars over dealer invoice minus any available cash incentives. You can look up the dealer invoice price over in the New Vehicle Pricing section of Edmunds.com. I don't know what Honda's November cash incentive on the '08 Odyssey is, but last month Honda was providing $3,500 on it. Chances are that it is the same this month, but you can check back with me in a day or two to confirm. The same goes for the money factor. Last month, Honda Finance's buy rate for a 36 month lease of an '08 Odyssey was .00290 for consumers who qualify for its top credit tier and pay a security deposit at lease signing. That's about it. Let me know if you have any questions. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (Nov 04, 2008 4:22 am) Where can we find the November incentives for Honda? Is it published somewhere?
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Replying to: honmom (Nov 04, 2008 6:30 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Nov 04, 2008 4:22 am)
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Replying to: jeffrey0707 (Nov 06, 2008 10:59 pm) Don't count on getting any money from the dealer just because you believe it might be worth a little more than its lease-end purchase option price. Unfortunately, the values of used vehicles have fallen precipitously over the past several months. Most price guides are currently overestimating what vehicles are really worth in the real world. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Nov 07, 2008 4:22 am)
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