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Prices Paid: Buying & Leasing Experiences Honda Odyssey Lease Questions
1477 messages, Last post on Oct 06, 2008 at 7:00 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Car_man (Oct 09, 2005 6:56 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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I am looking to lease a 2006 Honda Oddessy Touring with NAV and DVD in NJ. The msrp is $39,345. We need 15,000 miles per year included. We only visited one local dealer and were quoted $589 per month on a no money down 36 month lease. I'm not sure if that includes taxes. I also did not ask what the inception payment is. Is this in the ballpark? What do you think the best we will do is? |
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You're welcome sesarj. The money factor for a 36 month lease with only 12,000 miles per year would still be the same, but the residual value for a 12k lease is 2% higher than the residual for a 15k lease. Car_man Host Smart Shopper / Prices Paid Forums |
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No problem cliff1371. The selling price and lease money factor that you were quoted for this van look great. I personally wouldn't have put so much money down, but other than that this looks like a very good deal. I am glad that you were able to negotiate an offer that is so much more attractive than the other quote you were given earlier. Car_man Host Smart Shopper / Prices Paid Forums |
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Greetings freedy. Let's work up a lease payment on the van that you are interested in and see what we come up with. According to my calculations, if you were to lease a 2006 Honda Odyssey EL-X with DVD with an MSRP of $32,945 and a capitalized cost of $30,041 through Honda Finance right now for 24 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $538. The payment for an otherwise identical 30 month lease should be around $517. The payment for an otherwise identical 36 month lease should be $405. As you can see, the 36 month lease program for this model is WAY better than the 24 and 30 month programs. If you were to lease with 15,000 miles per year, the 36 month payment would increase to around $421. For the 36 month term, I used a money factor of .00255, a 12k residual value of 61%, and a 15k residual of 59%. This factor is much better than the .00370 that you would have to use for a 24 or 30 month lease of this van. Car_man Host Smart Shopper / Prices Paid Forums
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Sesarj, Honda Finance's current 36 month buy rate lease money factor for consumers who qualify for its top credit tier and pay a security deposit is .00245. If you opt to have your vehicle's security deposit waived, the base factor increases to .00255. If you do not qualify for Honda Finance's "Super Preferred" credit tier, the factor would be a little higher than that. Car_man Host Smart Shopper / Prices Paid Forums
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Happy Halloween formercdguy. You never mentioned the selling price of the van that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the Odyssey that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion on the payment that you were quoted and even calculate what your payment should be like on this van using Honda Finance's actual lease program if you let me know what its selling price is. Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: Car_man (Oct 31, 2005 10:54 am)
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