Last post on Dec 05, 2013 at 1:26 PM
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Honda Odyssey, Car Leasing, Van
#2650 of 2988 Re: Honda odyssey EX-L with RES 2012 in east bay,CA [coupedncal]
Apr 28, 2012 (7:09 pm)
This is what I finally got after hours of negotiation:
MRSP: 37455, BASE CAPT COST: 32943, COST: 1927, CAP COST REDUCTION: 4677 (2750 for a 2001 ODYSSEY-EX VAN + down payment of the difference), ADJUSTED CAP COST: 29538, RESIDUAL: 20880, MONEY FACTOR: 0.00115, TERM 36 MO/12K, TAX: 8.75% (too bad)
Monthly lease: 298.5 + TAX
What do you think ? I believe I made a good deal for the EX-L with RES and just got it home
#2651 of 2988 Re: Honda odyssey EX-L with RES 2012 in east bay,CA [elcaporale]
Apr 30, 2012 (2:11 pm)
If you don't mind me asking, what was your credit score to get that rate? Are you Tier 1 or 2?
#2652 of 2988 Re: Honda odyssey EX-L with RES 2012 in east bay,CA [tellomaster]
Apr 30, 2012 (2:22 pm)
I don't know what is tier 1 or tier 2? but was 770 with Experian I think they used.
#2653 of 2988 Re: Honda odyssey EX-L with RES 2012 in east bay,CA [elcaporale]
May 01, 2012 (9:19 am)
Thanks. I'm 720, so i hope i qualify for the same rate.
#2654 of 2988 Re: Honda odyssey EX-L with RES 2012 in east bay,CA [tellomaster]
May 01, 2012 (9:35 am)
As far as I know, all scores over 700 qualify as tier 1 and lowest interest rate applies. At least this is what my finance manager told me when we leased couple of months ago.
#2655 of 2988 2012 Odyssey EX 36mos lease w/ 12K mi
May 03, 2012 (5:38 am)
I got an offer from a local dealer. 1,500 out of pocket, 350 after tax / month. With the current 2009 Odyssey EX, I had 380 after tax / month with same out of pocket. Looks like a good deal for 2012. I'm in NJ and the tax rate is 7%. Can you guys give me an idea whether I should go for this deal? Or do i need to shop further?
#2656 of 2988 2012 Odyssey EX-L w/ RES
May 03, 2012 (7:37 pm)
Just posting the deal I think I'm going to take tomorrow...
2012 Honda Odyssey EX-L w/ RES
My Price $33409 (sale sticker, TMV is 34712, USNews Avg price for my area is 34526)
Fees $1303 (bank, processing, tax, title, license)
Down payment $5000 (first payment taken out of this)
Net cap cost $30016
MF .00102 (was .00092, but got bumped when I had dealer pull out a $890 fee. Is that common?)
Term 36mo/36k miles
$333/mo $0 due at signing
Also, selling a 2005 Prius with 121,300 miles and in fair condition (front bumper cracked, some dings and dents, everything else in top shape for a 2005) for $5775 cash in a private sale. Carmax offered $5500.
#2657 of 2988 Re: Need help, quickly! I think I am being taken advantage of.... [justmeplus3]
May 07, 2012 (3:11 pm)
Hi justmeplus3. You're absolutely right, you need to negotiate this van's selling price. There's no reason to pay full MSRP for an Odyssey right now. Given the fact that Honda is giving dealers $750 dealer cash on this model right now, f I was in the market for one I personally would shoot for a selling price of right around dealer invoice, perhaps a bit under. You should shop around with a few dealers until you find one that is willing to meet that price.
You can look up the exact invoice price of the van that you want over in the New Vehicle Pricing section of Edmunds.com. The invoice price of a 2012 Honda Odyssey LX is currently $26,786. So shoot for a selling price of around that or slightly less.
Using Honda's current lease program, I estimate that a 2012 Odyssey LX that has an MSRP of $29,205 and a selling price of $26,700 would have a zero down, pre-tax monthly payment of around $308...assuming that you qualify for its top credit tier.
You should treat your new vehicle and your trade-in as separate transactions. This just makes everything simpler and keeps the dealer from clouding up the deal. In fact, it would be in your best interest to have the dealer cut you a check for any equity that you have in your CR-V rather than using the proceeds from it as a down payment for your new lease. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.
I hope that this helps you out. I know from first-hand experience that car shopping with kids in tow is not an easy thing to do . Good luck and please let us know if you have any other questions.
Prices Paid: Buying & Leasing Experiences Forum
#2658 of 2988 1st time Lease - Honda Odyssey 2012 EX-L
May 09, 2012 (5:46 pm)
Hi, any advice for a 1st time lease... looking to lease a 2012 Odyssey EX-L in Miami, FL. Tax 7%. Just went to 1st dealer, offered $475+tax no down.
I would really appreciate your help.
#2659 of 2988 Re: 1st time Lease - Honda Odyssey 2012 EX-L [helenc1]
May 10, 2012 (5:10 am)
I am just starting to work with dealers in the Ohio now on an EX-L lease. I have received quotes so far with 6.75% tax included and 0.00 out of pocket of:
Hopefully this will give you an idea of what is out there, though Iím not sure how FL deals may differ from Ohio deals but $475 plus tax sounds on the high end.