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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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#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?
#1527 of 1833 Re: [CTRoll] by Car_man HOST Dec 03, 2008 (2:52 am)
Replying to: CTRoll (Nov 30, 2008 5:43 pm) Hi CTRoll. Honda's current lease program for the Odyssey isn't bad. Having said this, savvy consumers are usually able to beat manufacturers' advertised lease payments by negotiating a lower selling price than the one that the ad was based upon. Shoot for a selling price of around dealer invoice and then have the dealer calculate your van's monthly payment using its buy rate lease money factor of .00161 (assuming that you qualify for Honda Finance's top credit tier).   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#1529 of 1833 New Odyssey Lease Question by jeffrey0707 Dec 15, 2008 (8:10 pm)
The dealer just quoted me the following for a 2009 EXL: $540 with Nav and DVD, and $475 with no Nav and DVD. This is a sign and drive (that is, no money down except first month and DMV charges), the taxes and other fees are built into the lease payments, the lease is for 36 months with 12K miles. No disposition fee or other junk fees at termination. Lease is through Honda Financing not some unknown bank. The dealer informs me that they are losing $500 after the holdback. Apparently, they "don't want to lose me as a customer," so they are willing to lose the $500. Based on your knowledge, are they telling me the truth or is there additional opportunity for a lower lease payment? Thanks for your help. Replies to this message: Car_man (Dec 19, 2008 4:41 am)
#1530 of 1833 Ody lease-end then new one by squirreljam Dec 18, 2008 (12:54 pm)
Car_man -   I have a rapidly maturing Ody lease (mid Jan) and have several questions about that part of it. I'll be getting a new one so once I get closer I'll post again asking RV and MF for whatever year and version of an Ody we decide on...   Inspection pre turn-in - should I detail the car before the inspection or should I show it to the inspector in "worst case" condition? If they see it looking bad and tell me what to fix, would they then look harder at it?   Is there any loyalty program at AHFC?   Thanks a ton, Squirrel Replies to this message: Car_man (Dec 19, 2008 4:44 am)
#1531 of 1833 Re: New Odyssey Lease Question [jeffrey0707] by Car_man HOST Dec 19, 2008 (4:41 am)
Replying to: jeffrey0707 (Dec 15, 2008 8:10 pm) Hi jeffrey0707. While it's nice that the dealer is supposedly willing to lose $500 on this deal to keep you as a customer if I was working on this deal, I personally would want proof. Make sure to find out the exact selling price that you are being charged for this Odyssey. Once you know, stop back and share it with us. I am sure that either myself or another knowledgeable community member will gladly share their thoughts on it with you.   Also, make sure that the dealer is using Honda Finance's current .00161 (top credit tier) buy rate lease money factor to calculate your van's monthly payment.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#1532 of 1833 Re: Ody lease-end then new one [squirreljam] by Car_man HOST Dec 19, 2008 (4:44 am)
Replying to: squirreljam (Dec 18, 2008 12:54 pm) Hi Squirrel. I have leased several Hondas in the past and I have always found Honda Finance's inspectors (it uses an independent inspection company) to be fairly lenient when evaluating the lease-end condition of vehicles. It wouldn't hurt to go over your car quickly and clean it up yourself before the inspection, but I wouldn't waste the money to have it professionally detailed.   Honda Finance is not currently providing any special cash incentives on leases to loyal customers.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum

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