- #1512 of 1833
-
Re: leasing odessey 2008 exl with dvd [kathyz24]
by Car_man HOST
-
Nov 04, 2008 (4:29 am)
-
|
|
Replying to: kathyz24 (Nov 03, 2008 6:55 pm)
Hi kathyz24. Wow triplets, huh? I have two that are different ages and that is tough enough, I can't imagine three at the same time  . 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
|
- #1513 of 1833
-
Re: 2009 Odyssey Lease Question [Car_man]
by honmom
-
Nov 04, 2008 (6:30 am)
-
|
|
Replying to: Car_man (Nov 04, 2008 4:22 am)
Car-man...Thank you again!
Where can we find the November incentives for Honda? Is it published somewhere?
|
- #1514 of 1833
-
Re: 2009 Odyssey Lease Question [honmom]
by Car_man HOST
-
Nov 04, 2008 (7:50 pm)
-
|
|
Replying to: honmom (Nov 04, 2008 6:30 am)
You're very welcome, honmom. I have confirmed that Honda is offering 1.9% to 3.9% special financing or a special lease featuring a money factor .00161 (for consumers who qualify for its top credit tier) on the 2009 Odyssey in November.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
|
- #1515 of 1833
-
Re: 2009 Odyssey Lease Question [Car_man]
by jeffrey0707
-
Nov 06, 2008 (10:59 pm)
-
|
|
Replying to: Car_man (Nov 04, 2008 4:22 am)
Thanks for the responses. Does anyone know the residual percentage being offered on the 2009 Honda EXL with Navi and DVD? Also, since my lease is up (on January 2) for my 2006 Honda Odyssey (35k miles, great condition, Navi, DVD system, etc.) which carries a residual of $20,735, shouldn't the dealer give me a discount if they are picking up the car? The Kelly Blue Book value for the 2006 is $24,610. Thanks again for all the help.
|
- #1516 of 1833
-
Re: 2009 Odyssey Lease Question [jeffrey0707]
by Car_man HOST
-
Nov 07, 2008 (4:22 am)
-
|
|
Replying to: jeffrey0707 (Nov 06, 2008 10:59 pm)
You're welcome, jeffrey0707. This van's residual value varies based upon how long you lease it for and what mileage allowance you need. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Odyssey EX-L with the entertainment system, navigation, and 15,000 miles per year are .00161 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
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
|
- #1517 of 1833
-
Re: 2009 Odyssey Lease Question [Car_man]
by jeffrey0707
-
Nov 09, 2008 (6:55 pm)
-
|
|
Replying to: Car_man (Nov 07, 2008 4:22 am)
Car_Man thanks again for your help. I just got back from the dealer. I was amazed to find out that residual for the 2009 EXL with 12k for 36months was only 50%. My 2006 had a residual of 59% with the same lease terms. Even with negotiating the price down to $34,600 (EXL with nav and dvd) with a money factor of .00161 (was .00275 in 2006) for a lease of 36 months and 12k miles per year - the lease pymt per month came out to $543.65 (before tax and bank fees of $595 and dmv of $145). My lease payment for my 2006 with tax included was $533. I can't see myself paying an extra $55/month (with tax) for the same car (as there haven't been many changes since 2006). Do you have any suggestions? Is there another SUV or mini van that has a higher residual (close to 60%) than the Odyssey?
|
- #1518 of 1833
-
Re: 2009 Odyssey Lease Question [jeffrey0707]
by Car_man HOST
-
Nov 13, 2008 (6:40 pm)
-
|
|
Replying to: jeffrey0707 (Nov 09, 2008 6:55 pm)
No problem, jeffrey0707. I don't blame you for not wanting to pay $550 per month. That's a lot of money for a minivan. There aren't that many minivans left on the market, but the 2009 Toyota Sienna and 2009 Volkswagen Routan's current lease programs appear to be a little better than the 2009 Odyssey's right now.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
|
- #1519 of 1833
-
Re: 2009 Odyssey Lease Question [Car_man]
by jeffrey0707
-
Nov 13, 2008 (7:03 pm)
-
|
|
Replying to: Car_man (Nov 13, 2008 6:40 pm)
Actually, it would be approx. $585/month if I don't pay the tax upfront. That is a lot of money for a minivan that hasn't changed much from 2006 for which I was paying $533/month with tax included in the lease payment. Given that the residual is so low for the Odyssey, outside of the Sienna and Routon, do you know of any other family vehicles that have better lease terms? We might consider a practical SUV if that leases better. I've heard the BMW X3 has a residual of 60% which could be leased for significantly less than $500/month. I'll also look into the Toyota and VW that you recommended.
|
- #1520 of 1833
-
Re: 2009 Odyssey Lease Question [Car_man]
by 2dflyer
-
Nov 14, 2008 (8:40 pm)
-
|
|
Replying to: Car_man (Nov 04, 2008 7:50 pm)
Do you know if the 0.00161 is nationwide? We're in Raleigh and the first pass money factor we got was closer to 0.00200. We should qualify for top tier.
Thanks,
Allan
|
- #1521 of 1833
-
Re: 2009 Odyssey Lease Question [2dflyer]
by 2dflyer
-
Nov 15, 2008 (9:14 pm)
-
|
|
Replying to: 2dflyer (Nov 14, 2008 8:40 pm)
Answered our own question. The dealer did quote 0.00161.
|
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences 
