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Honda Odyssey Lease Questions

1835 messages,  Last post on Dec 02, 2009 at 6:34 PM

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What is this discussion about? Honda Odyssey, Car Leasing, Van

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#930 of 1835 Re: Need '08 EX-L RES & Nav & Touring w/o PAX info [gperr] by Car_man HOST Jan 22, 2008 (3:29 am)
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 Host Prices Paid: Buying & Leasing Experiences Forum
#931 of 1835 Re: Deceived and nightmare [1104] by Car_man HOST Jan 22, 2008 (3:38 am)
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 Host Prices Paid: Buying & Leasing Experiences Forum
#932 of 1835 Re: Leasing Odyssey - lease comparison EX-L DVD & Nav [hondanewbie1] by Car_man HOST Jan 22, 2008 (3:46 am)
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 Host Prices Paid: Buying & Leasing Experiences Forum
#933 of 1835 Odyssey Touring w/o PAX - Lease? by jwidenerga Jan 23, 2008 (10:51 am)
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? Replies to this message: scottinky (Jan 26, 2008 8:13 am)
#934 of 1835 what about this deal by scottinky Jan 26, 2008 (7:42 am)
Possibly trading a 2008 Armada LE, have about $6400 of neg. equity Honda dealer is offering at invoice, 36K miles. MSRP at 34445, selling price at invoice of around 31K. Money factor of 1.7%, $1100 down, and payment of $620. Is it worth it to trade a 2 month old SUV? I came up with $542 on a lease calculator. I know I have neg, but I am going for a cheaper vehicle. I am currently paying $588 on the Nissan with 15k per year.
#935 of 1835 Re: Odyssey Touring w/o PAX - Lease? [jwidenerga] by scottinky Jan 26, 2008 (8:13 am)
Replying to: jwidenerga (Jan 23, 2008 10:51 am) dude, no way would i put down 8K on a lease. NO WAY. walk away. if money is an object, get yourself and EX-L without NAV, and spend $500 on a Garmin.
#936 of 1835 Re: Help with payment calculation [Car_man] by treebeard1 Jan 26, 2008 (6:14 pm)
Replying to: Car_man (Jan 22, 2008 3:20 am) >>>>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.<<<< Excellent calculation. Dealer offered me zero down $385 per month for the EX-L with the entertainment system but NO navigation. We settled at $375 today and I'm very pleased. Replies to this message: bobtnj (Jan 31, 2008 9:44 pm) bdwatkiss (Feb 01, 2008 1:32 pm)
#937 of 1835 Early re-lease by driverbri3 Jan 26, 2008 (7:59 pm)
I need some expert advice........I'm currently leasing an '05 EX-L RES for $495 (36mo, 15K/yr) which terminates in 8/08. I'm looking at being over mileage (already have 42K) and other than putting on new tires (at 35K) and doing oil changes every 10K, I have done no maintenance and have put on a few scratches/small dents.   My question is will I have more negotiating ability to try to trade in now (my intention is to lease again) or wait until the lease ends in 8/08?   Thanks!!! Replies to this message: cookierex (Jan 29, 2008 7:55 pm) driverbri3 (Feb 01, 2008 5:54 am)
#938 of 1835 lease 2008 touring without pax tires, fully loaded by betsykof Jan 29, 2008 (1:13 pm)
I just got an internet quote for this car from a PA dealer for $36,895 plus $2951 tax (NY state tax) $5 dealer fee,and a few other small fees for a total of $39,916. the lease would be 36 months, 12,000 miles,1st payment plus sales tax, and fees for $1921.50 down at $477 per month. the rate is 2.71% and the residual is 56% of the msrp or $22,761. the loaded includes splash guards and cross bars which is what we have on our 2006 touring with paxs that I cant stand!! darn those pax tires!!! is this price and lease a good deal? how do i get them to take my current touring which I own or am I best selling it myself?   any comments appreciated. thanks! Replies to this message: cccompson (Feb 01, 2008 2:23 pm) betsykof (Feb 04, 2008 12:10 pm)
#939 of 1835 Re: Early re-lease [driverbri3] by cookierex Jan 29, 2008 (7:55 pm)
Replying to: driverbri3 (Jan 26, 2008 7:59 pm) We need a little more info to determine your current negotiating position. Here are a few steps to get you pointed in the right direction.   1) What is your current payoff?   2) What is your car really worth on trade? (I figure about $16k, based on KBB trade value.)   3) What is your residual (lease-end) value?   4) How much, if any, negative equity are you willing to absorb (i.e,, write a check for or roll in to your next lease)?   5) Your balance of payments is about $3,000 ($495 x 6). Is this more or less than your (presumably) negative equity.   6) What is the cost of your excess mileage should you keep the car until lease end? At your current mileage pace and 20 cents per extra mile, it should end up around $1,100.   7) Embrace the Zen of excess miles. Leases are designed to "pay for what you use". You used the miles, so go ahead and pay for them. Spread over the cost of the lease, $1,100 / 36 is about $30/month.   8) Is there a screaming lease deal out there right now? Will a better one come down the pike this summer?   Once you have answered those eight questions, you can do a cost-benefit analysis of whether it's better to trade now or ride it out. I hope this helps.   Replies to this message: driverbri3 (Feb 01, 2008 5:54 am)

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