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Honda Odyssey Lease Questions

2948 messages,  Last post on Jun 16, 2013 at 3:01 PM

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

Messages Page 272 of 296

#2707 of 2948 Re: 2012 Odyssey EX-L w/RES Lease Price Question [scottcara] by gene00

Aug 08, 2012 (9:01 pm)

Replying to: scottcara (Aug 08, 2012 7:32 pm)
You didn't say how many years you'd be financing the car if you bought it, is your $400/mo payment also for 36 months?
 
5 years of ownership is about the break even point for lease vs purchase, over that a purchase usually wins. Since interest rates for purchases are currently so low (if you qualify for the .9% vs something like 3.2 % for leasing), if you can get it around $31k, I like the idea of the purchase. Plus get the longest offered extended warranty (before you hit 6k on the odometer) from one of the national discount honda dealers, and drive your car for as many years as you can stand (lets say 7 or more), you are way ahead of the lease.
 
On the other hand, if you'll want a new one when the 2016's come out, by all means lease it.

#2708 of 2948 Re: 2012 Odyssey EX-L w/RES Lease Price Question [gene00] by scottcara

Aug 09, 2012 (11:42 am)

Replying to: gene00 (Aug 08, 2012 9:01 pm)
Thanks Gene, I appreciate those comments. My thought was regardless of the payment in financing it is cheaper to finance always rather than lease...Even if I wanted to sell the car I should be able to do better than the residual value in every case right?
 
Selling the 2012 Ody in 2016 would still net me a better value if I hold title, right?

#2709 of 2948 Re: 2012 Odyssey EX-L w/RES Lease Price Question [scottcara] by robroth

Aug 09, 2012 (2:09 pm)

Replying to: scottcara (Aug 09, 2012 11:42 am)
There is no ALWAYS.... whether it's 'always better to purchase than lease' or 'always can sell for more than the residual'. It's a case by case thing and nobody has a crystal ball to know what a vehicle will be worth at the end of a lease. I can tell you in the case of my wife's 2008 Pilot, we came out WAY ahead leasing. 0.7% interest on the lease vs 3%+ buying and I sold it at the end of the lease for $7K over residual. Even if you wanted to buy, it literally would have been cheaper to lease for 3 years then buy with the 0.7%. Even if you had cash, banks were paying out more than that in interest.
 
I then leased a 2011 Odyssey for my wife. I have absolutely no idea how this one will turn out. There are no absolutes in lease vs buy, you need to evaluate each case and even then you can only guess how much the vehicle will have depreciated by the lease end.

#2710 of 2948 Re: 2012 Odyssey EX-L w/RES Lease Price Question [robroth] by scottcara

Aug 10, 2012 (8:14 am)

Replying to: robroth (Aug 09, 2012 2:09 pm)
Thank you very much. I need some advice on final lease figures.
 
$498/Mo EX-L w/Res 0/0/0 15K/36Mo or
$549/Mo Touring 0/0/0 15K/36Mo
 
Is the Touring worth $51 more per month?

#2711 of 2948 Re: 2012 Odyssey EX-L w/RES Lease Price Question [scottcara] by mrthnman

Aug 10, 2012 (8:22 am)

Replying to: scottcara (Aug 10, 2012 8:14 am)
I'm in the market too ...what does 0/0/0 mean , no first month payment ? sales tax included ? which dealer gave you this quote ?

#2712 of 2948 Re: 2012 Odyssey EX-L w/RES Lease Price Question [scottcara] by robroth

Aug 10, 2012 (8:30 am)

Replying to: scottcara (Aug 10, 2012 8:14 am)
is it worth $51 more a month? $1800 over the lease lifetime? Only you know if it's worth it to you. Look at the extras you get with the Touring and decide if they are worth $1800 out of your pocket. I got the touring for my wife as I felt the extra options were something that would make her life easier with the kids and for long family trips. I thought the Elite was overkill, split screen TV with one DVD for each kid is kind of ridiculous, but having the "rear entertainment system" has been a life saver on more than one occasion.

#2713 of 2948 Help on EX-L Lease by jacobbbeam

Aug 10, 2012 (7:33 pm)

Hi hoping someone can help. EX-L no nav, no res. MSRP is 35.8k.
 
I'm pretty close to buying.
 
The deal is 32,700 (w/Destination) then subtract the $1,250 cash.
 
That feels like a decent deal to me - below invoice before incentives.
 
But what I can't figure out, is that people are getting pricing much lower - like 31,500 before incentive.
 
I think there is only 700 in holdback on the van + 350 in HDAG. I think I'm giving them a profit of about 600 bucks - that is fair.
 
Most of the really low prices that I have seen are in states with sales tax (oregon is not).
 
Does anyone know if dealerships go lower in states with sales tax?
 
Any other advice - if I'm within $200 bucks of a great deal, that is fine.
 
But I don't want to be $1,000 off.
 
Thanks.

#2714 of 2948 Re: MF and residual % for 2012 Odyssey EXL w/RES [btw01] by Car_man HOST

Aug 12, 2012 (7:26 am)

Replying to: btw01 (Aug 01, 2012 11:09 am)
Greetings Brad. Honda Finance's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EX-L with RES and 12,000 miles per year are .00063 and 54%, respectively for consumers who qualify for its top credit tier.
 
The buy rate is the lowest possible money factor that the dealer can use to calculate your lease payment, but dealers are sometimes allowed to mark vehicle's money factors up to add additional back-end profit to deals. Honda dealers aren't notorious for doing this like say BMW dealers are, but it's still something to keep an eye on.
 
Yes, Honda is currently providing $1,250 dealer cash on this van that you should take into account during your negotiations.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#2715 of 2948 Re: MF and Residual for Touring Elite... [klockboy] by Car_man HOST

Aug 12, 2012 (7:30 am)

Replying to: klockboy (Aug 05, 2012 7:49 am)
You're very welcome, Tom. Thanks for the recognition. Honda Finance's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey Touring Elite with 15,000 miles per year are .00063 and 50%, respectively for consumers who qualify for its top credit tier.
 
When negotiating your deal, make sure to take advantage of the $1,250 dealer cash that is currently available on this van.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#2716 of 2948 Re: Help on EX-L Lease [jacobbbeam] by Car_man HOST

Aug 12, 2012 (7:35 am)

Replying to: jacobbbeam (Aug 10, 2012 7:33 pm)
Hi jacobbbeam. A selling price of under dealer invoice minus the available dealer cash is a very good deal on a leased Odyssey. Just make sure that the dealer is using Honda Finance's buy rate lease money factor of .00063 (top credit tier) to calculate your payment and you're in business.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Messages Page 272 of 296

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