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Prices Paid: Buying & Leasing Experiences Honda Odyssey Lease Questions
1804 messages, Last post on Nov 09, 2009 at 7:30 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I got a quote on 09 EX lease selling price $26950, residual $16510, monthly payment $365 + $595 bank fee, $250 doc and $300 registration. Do you guys think this is fair? My current lease expires in mid Feb. Any comment to skip the year end deal and wait for the new promotions? |
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I've been looking at leasing an EX-L and am trying to get my monthly payments inside $400/month. So far non of dealers I spoke to were willing to negotiate beyond the current lease deal from Honda (about $480/month, $0 down). Today one called back and said Honda issued new incentives and they can go down to $425/month. Does anyone know any details for the new incentives? Or are they giving up their dealer holdbacks to sell? I don't see them moving a lot of cars and even Honda is going to have to give bigger incentives than they historically have been.
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Replying to: elephant22 (Jan 03, 2009 1:24 pm) For example, using the residual and money factor in the advertised lease, cooking the acq. fee into the lease and using as the selling price of the van invoice minus the $1250 incentive from this past weekend (so zero dealer profit on the sale, excluding floorplan/holdback money), the monthly payment is still just over $400 NET of taxes and for me, would be $436 with tax. And that's with paying a security deposit up front. If you want a true no-money-down deal and not pay a sec. dep., the dealer will probably bump the money factor to .00111, raising the net payment to about $410 without tax. As to the dealers not moving cars: yes, yesterday's news on national car sales was atrocious, even for Honda (down ~35% over the previous Dec.). However, there are some other things at play. Dec. Honda sales were up about 10,000 vehicles sold over November, a trend that seems to hold true across other mfgs also. As well, I just bought a new Ody last night and my store was humming - my guy had sold 11 cars personally in January already, and it was only the 5th. They are one of the top 50 Honda stores nationally in volume, but still, some cars are selling.
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Replying to: elephant22 (Jan 03, 2009 1:24 pm) If you can lease the EXL in Mass then check out Boch Honda > Promotion > Month ... Sign & Drive with ZERO out of pocket, 368/mo before tax. Every New 2009 Honda Odyssey EXL MSRP $33,725 Lease for only $368/Month Lease requires approved credit; based on 12,000 miles/year, .20/mile excess; Lease based on ZERO cash or trade down. Security deposit waived. $368x36, 51% res. Price excludes taxes, documentation, title, and registration fees; prices include all customer rebates, promotions and incentives to dealer. Lease #152937 |
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Replying to: squirreljam (Jan 06, 2009 8:37 am) Appreciate the feedback. You answered my question about the $1250 incentive over the weekend. I guess I missed the train on it. Do you think they'll still honor the deal? I also see they did not replace the just expired incentives with new ones. Or there's more coming? I'm reluctant to make a deal now and find out in a month or so there's a better deal out there. Regards
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Replying to: elephant22 (Jan 06, 2009 12:54 pm)
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Replying to: squirreljam (Jan 06, 2009 5:17 pm) Its useful to know these incentives up front before we go into the dealer as they'll never willingly give them up. Amazing as they're sitting on a lot of inventory and you'd think they'd want to make a deal. Appreciate all your feedback on this forum. Regards |
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Replying to: squirreljam (Dec 29, 2008 9:31 pm)   . Here's the information that you're looking for. Honda Finance's new January buy rate lease money factor and residual value for a 36 month lease of a base 2009 Odyssey EX-L with 15,000 miles per year are .00250 and 48%, respectively. The money factor for an EX-L with RES drops is the same, but the resid drops by one point to 47%. The resid for an EX-L with RES and Nav is two points lower at 46%. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Odyssey EX-L with 15,000 miles per year are a much less attractive .00310 and 43%. Again the resid drops by one point for RES and two points for RES and Nav. Honda is currently providing $1,250 dealer cash on the '09 Odyssey and $3,500 on the '08 Odyssey. Make sure to take this cash into account when negotiating the capitalized cost for your lease. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: glit922 (Jan 01, 2009 6:01 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Edmunds is showing the following prices for 08 Odyssey Touring (No PAX) MSRP: $40,680 Invoice: $36,884 TMV:$31,743 Is this reasonable? Does it include the $3500 Dealer cash for '08s Mir
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