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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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I have a 2004 Odyssey EX-RES that I have been leasing for 199.00 per month at 15,000 per year initially for 2yrs(extended it to 3yrs). It currently has 41,000 miles and my lease can renew on the 22nd of June, 2007. The residual value is now 18,006.84 I can't decide whether to keep this deal or get a new lease. The car runs fine,although I probably will need tires soon,and maybe brakes at some point. I used to live in NH and moved to MD so I had to pay 5% tax on the purchase price to register it again last year! NH has no excise tax so MD gets you for it when you register a car here. A new lease means I will have a big registration fee and an increase in my monthly car payment. I need advice on a great deal for a similar Odyssey that would be worth switching to, otherwise I may keep it for one more year till my registration runs out. Any advice would be appreciated. I realize my payment won't be 199.00 but I am not willing to pay over 400.00 per month for this vehicle. I saw an LX ad on TV for 279.00. Also I don't know if I can find a deal with no money down or very little down. I live near Frederick, MD(30 minutes outside DC)if you have any dealers in the area that you can recommend that would be appreciated.
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Replying to: nadarashdan (May 22, 2007 8:18 pm)
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Can anyone confirm that the money factor on a 3yr lease of an Odyssey is now .00275? Car_man?? Do you know? We have to turn our CRV in on Friday and we were planning to lease a new Odyssey. With that money factor and the quotes I have received, that puts the payment over $500. Too much for me. TBH
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Just brought an 07 Tour with NAV. Money Factor was .0014 36month / 12K Residual was 52% This was out of MD. My negoiated price was 1000K below invoice.
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Well, finally done, I got the EX-L with RES. MSRP = $33290 My Price = $30000(400 below invoice) 53% Residual Money Factor = .00167 (4% interest) 36 Months 7% Tax here in NJ my payments including tax are 460 per month, note that they would have been 452.39 but I took the car care which gives you free oil changes and tire rotations for lease term. This was a 0 down lease, I paid $1,000 for first month payment and tax,title,and a little cap cost reduction. Good Luck all, see you again in 3 years! By the way, take the numbers from this site with you on paper when you go in and hand it to the salesman and dont budge, they will match these numbers.
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Replying to: jplavalle (May 24, 2007 12:34 pm) - 15,000 miles/year - 36 month lease - $800 total due at signing (included first months payment) - Cash back of $1,000 (they paid off the remaining balance of my Jeep lease) - Monthly payment of $437. This also included the oil changes and tire rotations for the life of the lease. It added $5/month to the payment, but I did the calculations, and it should save me close to $200 over the life of the lease. I believe the residual on mine was 52%, and the money factor was 0.0014 (3.3%)
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Replying to: bbecker1 (May 23, 2007 6:51 am) |
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Replying to: bigman32 (May 25, 2007 5:55 am) -15,000 miles/year -36 month lease -$2500 total at signing (included 1st month payment) -monthly payment of $365 -residual 52% -money factor 0.00140 (3.3%) They offered me the oil change and tire rotation but I declined it. |
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It was in Clarksville MD... The sales tax of the entire car has to be paided up front... Bottom line... I am paying $565 a month for 36mon / 12k miles with NOTHING down. This is for an Touring with Nav and some other small accesories like Moon Roof Visor / Mud gurards / Trim guards/ Wheel lock / and AUTOSTART
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We've been holding out in hopes that a good lease deal for a new Odyssey would come out last year, during the summer, or hopefully this Fall. We've got an 04 EX-Res that we got on Labor day in 04 for around 24 months, $360/month, with a residual around 18k. I've been checking since last fall, and haven't seen anything under $500/month around here. I've read where various states are selected for lease deals and others get % rates for purchase. Is there a light at the end of the tunnel here in Alabama? If not, we'd be happy to go up to Tennessee, Georgia, or even Mississippi if that's what it took to get a good lease deal on an Ody. Thanx for any info!
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