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Honda Odyssey Lease Questions

1833 messages,  Last post on Nov 23, 2009 at 9:41 PM

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

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#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? Replies to this message: Car_man (Nov 13, 2008 6:40 pm) jeffrey0707 (Nov 13, 2008 7:03 pm) nik128 (Dec 02, 2008 10:07 am) and 1 more...
#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 Replies to this message: jeffrey0707 (Nov 13, 2008 7:03 pm) nik128 (Dec 02, 2008 10:07 am)
#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. Replies to this message: nik128 (Dec 02, 2008 10:07 am)
#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 Replies to this message: 2dflyer (Nov 15, 2008 9:14 pm)
#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.
#1522 of 1833 2008 Odyssey EX-L lease by yoyo77777 Nov 23, 2008 (4:27 pm)
How much should I expect to pay with nothing out of my pocket to start. 36 months, 15000 miles per year. I was offered $473 per month including 8.25% california tax. Is this a good deal? any help is appreciated. Replies to this message: Car_man (Dec 02, 2008 4:41 am)
#1523 of 1833 by CTRoll Nov 30, 2008 (5:43 pm)
What is the take on the current national offer for the EX-L lease? Is it a good deal? I have always purchased my cars and just started looking in to leasing.   Taken from Honda's website:   $389.00 per month for 36 months. $2,999.00 total due at signing   FEATURED SPECIAL LEASE: Closed-end lease for 2009 Odyssey EX-L Automatic Transmission (Model RL3869JW) for $389.00 per month for 36 months with a $2,015.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,999.00 total due at lease signing (includes first month's payment, with no security deposit, AHFC upfront acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.   Subject to limited availability. 11/20/2008 through 1/5/2009, to approved lessees by American Honda Finance Corp. Closed end lease for 2009 Odyssey EX-L Automatic Transmission vehicles (Model RL3869JW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $33,725.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $29,505.51. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $14,004.00. Option to purchase at lease end $17,199.75. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details. Replies to this message: CTRoll (Dec 02, 2008 4:05 pm) Car_man (Dec 03, 2008 2:52 am)
#1524 of 1833 Re: 2008 Odyssey EX-L lease [yoyo77777] by Car_man HOST Dec 02, 2008 (4:41 am)
Replying to: yoyo77777 (Nov 23, 2008 4:27 pm) Hi yoyo77777. At lease signing, Honda Finance charges your first month's payment, a security deposit equivalent to this payment rounded up to the nearest $25 increment (unless it is waived), a $595 acquisition fee, and any capitalized cost reduction that you choose to make (ideally this should be $0).   It would be easier for us to evaluate the deal that you were quoted if you were able to provide us with 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 this number, one has to back into the approximate selling price to tell how much of a dealer discount they are being given and see if there is any room left to negotiate. Let us know what this number is and I am sure that either myself or another knowledgeable community member will give you their opinion.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#1525 of 1833 Re: 2009 Odyssey Lease Question [jeffrey0707] by nik128 Dec 02, 2008 (10:07 am)
Replying to: jeffrey0707 (Nov 13, 2008 7:03 pm) Just so you know, right now Honda is offering $3500 deal cash back on the 2008 models. The money factor is quite a bit higher on the 08 (.00310) vs the 09 (.00101) but the cash back still made quite an impact on the payment. I just negotiated an EXL RES w/out navi, $0 out of pocket, 36 month, only 12,000 ($19 more for 15k) and my payment will be around $460. Drawback...2009 EXL w/out touring comes with auto hatch opening, but this feature was only available on touring models in prior models.
#1526 of 1833 Re: [CTRoll] by CTRoll Dec 02, 2008 (4:05 pm)
Replying to: CTRoll (Nov 30, 2008 5:43 pm) Anyone have any thoughts on this?

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