- #924 of 1835
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Re: Leasing Odyssey - lease comparison EX-L DVD & Nav [hondanewbie1]
by hondanewbie1
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Jan 19, 2008 (5:14 pm)
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Replying to: hondanewbie1 (Jan 19, 2008 11:50 am)
New information with regard to this post - I got this latest quote on a lease:
36 months  15000 miles/year for $451.26 with$1648.26 due at signing. Residual is $19461.60 The Odyssey incls. DVD, Navigation and Back up sensors.
I am trying to understand if the above is a good offer as I got another quote for 442 with inception fees of 1197 and buyout of 20k. Not a large difference, except for the higher inception fees and the provider of the first offer said that they couldn't understand how a dealer could offer the lease for 442 and that they must not be using Honda finance, Any insight is appreciated as making a decision in the next couple of days. Thanks.
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- #925 of 1835
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Re: Best lease price available on long island, NY [berkut027]
by Car_man HOST
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Jan 21, 2008 (3:40 am)
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Replying to: berkut027 (Jan 02, 2008 11:44 am)
No problem, Berkut. Honda Finance's current buy rate lease lease money factor and residual value for a 36 month lease of a 2008 Honda Odyssey Touring without the navigation or entertainment systems with 12,000 miles per year are .00113 and 58%, respectively. I suspect that the Odyssey's residual values are a lot more realistic aka less supported than GMAC's residual value was for the Yukon XL when you leased it.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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- #926 of 1835
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Re: Best lease price available on long island, NY [ballhogg]
by Car_man HOST
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Jan 21, 2008 (3:48 am)
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Replying to: ballhogg (Jan 04, 2008 9:31 am)
Here's the information that you're looking for, ballhogg. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Odyssey Touring without the entertainment or navigation systems with 15,000 miles per year are .00113 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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- #927 of 1835
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Re: Best lease price available on long island, NY [Car_man]
by berkut027
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Jan 21, 2008 (7:04 am)
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Replying to: Car_man (Jan 21, 2008 3:40 am)
Thanks, Car_man. The 58% residual seems much more reasonable.
I'm sure you're right re: the accuracy of Yukon vs. Odyssey residual values. No way the Yukon is going to hold 61% of its value after 36 months. But that's one of the benefits of leasing--if the OEM gets it wrong on the high side (as GMC has), the lessee benefits from lower lease payments and can just walk away at lease end (or negotiate the buyout price down if you really want to keep the car). It shifts the depreciation risk to the OEM and is one of the reasons I've starting leasing cars after many years of buying.
-- Berkut
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- #928 of 1835
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Re: 2008 Odyssey EX-L [rtadams]
by Car_man HOST
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Jan 22, 2008 (3:11 am)
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Replying to: rtadams (Jan 06, 2008 4:18 pm)
Hi rtadams. The money factor and residual value that you were quoted for the Odyssey that you are interested in look good. They are right in line with Honda Finance's current program for this vehicle. The selling price that you were quoted looks great, too. It is probably pretty close to dealer invoice.
Using this lease program, an MSRP of $32,210, and a capitalized cost of $28,810 I estimate that this van's zero down, pre-tax monthly payment should be around $344. I wouldn't put that $2,500 down if I was leasing this vehicle, but if that's what your wife wants to do you might have to just go with it  .
Car_man
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- #929 of 1835
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Re: Help with payment calculation [colo232]
by Car_man HOST
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Jan 22, 2008 (3:20 am)
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Replying to: colo232 (Jan 08, 2008 7:54 am)
Hi colo232. Let's crunch some numbers and see how much extra the navigation system will add to your payment. According to my calculations, if you were too lease a 2008 Honda Odyssey EX-L with the entertainment system but NO navigation that has an MSRP of $34,445 and a selling price of $31,247 (invoice) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $381. The payment for an otherwise identical lease of an '08 Odyssey EX-L with entertainment and nav (MSRP $36,445 / selling price $33,055) would be around $422. So it looks like nav adds a whopping $41 per month to this van's payment. That's probably not worth it in my book. The problem is that not only is this an expensive option, price-wise, but its addition also reduces the van's residual value. It's sort of a double whammy that really jacks up the monthly payment.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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- #930 of 1835
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Re: Need '08 EX-L RES & Nav & Touring w/o PAX info [gperr]
by Car_man HOST
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Jan 22, 2008 (3:29 am)
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Replying to: gperr (Jan 13, 2008 2:10 pm)
Here's the info that you're looking for, gregg. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Odyssey EX-L with RES and NAV with 12,000 miles per year are .00113 and 55%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The money factor for an otherwise identical lease of an '08 Odyssey Touring with RES and Nav would be the same, but the residual value is 56%.
Honda is providing a $1,000 dealer cash incentive on the 2008 Odyssey right now, but this incentive is not compatible with the above special lease program.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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- #931 of 1835
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Re: Deceived and nightmare [1104]
by Car_man HOST
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Jan 22, 2008 (3:38 am)
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Replying to: 1104 (Jan 15, 2008 8:25 pm)
Hi 1104. I am sorry to say that if you have signed a lease contract and have physically driven off in this Odyssey there isn't much that you can do to get out of this deal at this point. You can go back to the dealer and make a big fuss, but they are not obligated to do anything for you and there is a good chance that they won't. You may have to chalk your first least up as a learning experience and more thoroughly research your next vehicle purchase in advance.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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- #932 of 1835
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Re: Leasing Odyssey - lease comparison EX-L DVD & Nav [hondanewbie1]
by Car_man HOST
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Jan 22, 2008 (3:46 am)
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Replying to: hondanewbie1 (Jan 19, 2008 11:50 am)
Hi hondanewbie1. The best way to negotiate a good deal on a lease is so shop around for the lowest possible selling price on the vehicle that you want and then have the dealer that you decide to go with calculate your monthly payment using its buy rate lease money factor. You never mentioned what the selling price is for the Odyssey that you are interested in. I would be happy to give you my opinion of this deal if you let me know what it is.
Unfortunately, I highly doubt that a rate cut by the federal reserve at the next meeting will have any impact upon Honda Finance's lease program for the Odyssey in the near future.
Car_man
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- #933 of 1835
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Odyssey Touring w/o PAX - Lease?
by jwidenerga
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Jan 23, 2008 (10:51 am)
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Was given the following from a dealer in Atlanta. Trying to get as close to a $300/mo payment as possible.
2008 Honda Odyssey Touring without Pax
36 Month Lease
12,000 miles per year
Cap Cost: $40340.00
Residual: 56%
Selling price: $1500 behind invoice plus $595.00 Acquisition fee
Money Factor: .00113 (super preferred credit)
$300.00 per month (includes tax)
$12,000.00 Due at signing
Cannot put 20% of adjusted cap cost down
Your actual is:
$387.33 per month plus tax
$8226.80 Due at signing
Thoughts on the above?
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