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Prices Paid: Buying & Leasing Experiences Honda Odyssey Lease Questions
1835 messages, Last post on Dec 02, 2009 at 6:34 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: fish1169 (Oct 12, 2005 5:10 pm) i have been offered an '06 LX for $365/mo, including tax.... purchase price around $24K, and the Honda Money Factor is .00265. there's still room for dealing even with this deal..... hope that helps - |
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Replying to: dpav (Sep 15, 2005 3:01 pm) I am looking for a Odyssey EX-L w/ RES in LA, CA. What is the current Honda financing lease terms? Money factor and residual. Thanks |
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You're welcome kevinb8. I believe that Honda Finance charges a security deposit equivalent to your vehicle's monthly payment rounded up to the nearest $25 increment. Its lease acquisition fee is currently $595. Car_man Host Smart Shopper / Prices Paid Forums |
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Greetings sesarj. I would be happy to give you an idea of what sort of lease payment you can expect on the van that you are interested in. However in order for me to do so I need some additional informaiton from you first. This info includes how long you want to lease it for, how many miles per year you need to be able to drive it, and its approximate selling price. You should be able to get an idea of what sort of selling price you will have to pay right now by visiting the following discussion: "Honda Odyssey: Prices Paid & Buying Experience". Car_man Host Smart Shopper / Prices Paid Forums |
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Hello fish1169. You are being given a $1,300 discount a van that has around a $2,500 spread between its full MSRP and invoice prices. This is a reasonable deal, but I would not be completely surprised if you were able to be at it by shopping around. You may want to stop by the discussion that I mentioned in my previous post to see how much other community members have paid for similar vans lately. The main problem that I have with this deal is the high money factor that you were quoted. For consumers with good credit and who pay a security deposit, Honda Finance's buy rate lease money factor for a 36 month lease of a 2006 Odyssey should only be .00255. It is possible that the dealer that you are working with is marking up this van's base factor to add additional back-end profit to your deal. Using Honda Finance's actual lease program and the prices that you mentioned in your post, I estimate that this van should have a 36 month, 15,000 miles per year, zero down, pre-tax monthly payment of around $340. As you can see, the lease payment that you were quoted is too high. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi sesarj. you never mentioned how long you want to lease this van for or how many miles per year you need to be able to drive it, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Correct me if this is different than what you want. If you were to lease a 2006 Honda Odyssey EX-L w/ RES through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 59%, respectively. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Oct 18, 2005 2:18 am) |
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Replying to: Car_man (Oct 09, 2005 5:56 am) thanks for reply. Well i went and pulled the trigger. I shopped at 5 different dealerships and the deal i ended up with BLEW the other guys out of the water! Actually the other dealerships said that there was NO WAY i was getting the vehicle for these numbers. Here's the breakdown: Odyssey 2006 EXL-RES, 15K/year 42 month MSRP=32,945 Negotiated Final SAle Price= $28199.00 Amount Down at Signing $2298.00(includes reg,taxes,1st month payment) money factor = .00245 Monthly Payment= $359.00 I'm being told this is a great deal, what do you think? Also, Anyone interested, i told the SalesMan i would definitely refer him. My best friend just went down a ended up with the same vehicle for 379.00 per month. The dealership is in the Springfield, MA area
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Car Man: Was interested in the following lease information for 24, 30 and 36 mo. lease terms with 12,000 miles and 15,000 miles (information on all 6 different parameters). Let's assume the following: MSRP 32945. Cap cost 30041. No cap cost reduction. Using the current AHFC money factor and residual value, would you please run the monthly lease amount based on the above (please let me know the money factor and the residual value for each as well). MUCH APPRECIATED. |
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| I was quoted 30696 including destination. Moey factor is .002650. Didn't you say that Honda's currently .00245? Where can I get that information? to respond to the dealer? Thanks for the help!! | |
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