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Prices Paid: Buying & Leasing Experiences Honda Odyssey Lease Questions
1439 messages, Last post on Aug 30, 2008 at 5:41 AM
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Been negotiating deal in West Palm Beach, FL. So far 2007 Odyssey with RES with $710 out the door (1st month and tags) is: "A 2007 Honda Odyssey EX-L RES lease w $710 total out of pocket. 36 month lease w 12k miles per year is $443 per month including sales tax." Don't have the numbers for cap cost or residual or money factor yet. So far seems pretty resonable. Any thoughts?
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Replying to: volvomando (Jul 16, 2007 4:24 am) That seems like a great price. What dealer did you use. I'm in the market for the same van Thanks |
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Replying to: riverdog474 (Oct 10, 2007 7:39 pm) 30,000 sales price including destination charge (635) and dealer processing fee (329). I told them I wouldn't pay for the appearance package, which was 299 or thereabouts. I think this works out to about sixhundred below invoice, which is probably a break-even for the dealer because there is a 2% dealer holdback on MSRP for Odysseys right now. (This holdback is separate from the 2k factory to dealer holdback, which I read here on Edmunds is not available with the money factor below , and which every dealer confirmed. By the way, if you compare the 2.9% money factor to a very competitive bank rate of 5.5%, over three years the differenc is about... you guessed it, $2,000.) money factor .00121 (2.9%) residual .53 based on MSRP of 33something (sorry, I'm working from memory)-- residual value 17658 acquisition fee 595 total tax 951, tags 101 (2 year registration) I feel pretty good about the deal. I got it by doing the price quotes through Edmunds for sale prices, and then making an offer to each dealer by email with the lease terms I wanted. This forum was really helpful in deciding what terms to offer and so I just wanted to pass on the benefit of my experience.
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With the help of this forum and "New Autos Inc." I got a better lease for my 07 Odyssey LX than at the dealers and no tricks or wasted time. If anyone else is interested in buying or leasing without all the hassle, definitely check them out. They are super-helpful and have competitive, if not the best prices. Good luck everyone! 
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Replying to: mcgasket (Oct 11, 2007 6:58 pm) Got the numbers from the dealer: MSRP=$33,290. Cap cost=$29,218. Money Factor=.001210 Invoice=$30,339.32 Residual=$17,664.90 Payment with tax included (6%): $710 total out of pocket,36 month lease w 12k miles per year is $443 per month including sales tax This is very similar to your lease, so it doesn't look bad thanks for your input, Riverdog474 |
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I did a search but couldn't find an answer. What's with the $198 monthly lease on a new LX. The ad states 12,000 miles per year, $198 x 36 months, 56% residual, All leased as based on $3,288 or trade down, taxes, fees & first month payment. Security deposit waived. Seems too good to be true. What am I missing? TIA
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What is the residual and current money factor for this vehicle? I was quoted $480/mo $4000 down 36mth 12k mi/yr, is that a good deal?
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I finally moved on the 2007 Odyssey EX-L w/ RES. $33737 sticker price with dealer options $800 out of pocket $415 per month plus NC tax (3%) $427 total payment 36 months 15,000 miles per year I think I did the best I could do without more rebates or incentives. I used the 0.121 Money Factor through Honda instead of using the $2000 manufacturer to dealer cash. Thanks for the great information from this forum. It was very helpful.
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I posted this in the buying forum and then found this topic: I'm about to pull the trigger on a lease on a 07 Odyssey EXL nav & res. I was quoted the following. Purchase price at 500 below invoice, somewhere around 31000, including destination, $1600 due at inception, $448 monthly payment including tax. While I didn't get into the details of money factor, I'm mostly concerned about the selling price of the vehicle. Being that its a lease and not a purchase, is it safe to say that the dealer will not receive the $2000 cash to dealer from Honda? That's what was explained to me. The inception fees break down to 595 bank fee, 300 doc fee, 198 tags, 448 1st mo payment, tire tax and some other stuff to make up the 1600. I also think I fall into tier 2. What is the range of tier 2 and what money factor should I expect ? Thanks for your help.
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This is an quote I got from a local dealer Maroone Honda of Miami - is there anything I should be concerned about? Is this a good deal or not? Vehicle: 2007 HONDA ODYSSEY * 5d Wgn EX-L Stock #: VIN: AddChangeVIN Miles: 0 PURCHASE OPTION Vehicle Price: $31,730.00 Preferred Customer Discount: Edit Retail Price -$3,365.00 Selling Price: $28,365.00 Sales Tax (estimate): + $1,788.29 Tag/Registration Fees (estimate): + $260.00 Tire/Battery/MVWEA: + $8.50 Documentation Fee: + $599.95 Balance Due (estimate): $31,021.74 Edit Cash Deal No Trade-In LEASE OPTIONS - 15,000 Miles Cash Due at Signing 24 months 36 months 48 months $995 $527 $433 $450 $1,995 $482 $403 $426 $2,995 $437 $373 $402 THanks...
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