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Prices Paid: Buying & Leasing Experiences Honda Odyssey Lease Questions
1835 messages, Last post on Dec 02, 2009 at 6:34 PM
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Hi, Iam in NJ iam looking to lease an oddyssey exl res. Please guide me in getting the best deal. Iam looking to close the deal with ina week. thanks raj
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Dear raj, If you look up the donkey punch method for buying a car, it has a very helpful method that should also apply to leasing. I'm sorry that I don't know the exact post, but you can search for it, I believe in the buying a Honda Odyssey forum. Several posters have suggested first negotiating the purchase price, using the donkey punch method. I wish I had done that, and I would advise you to do it that way. After you successfully negotiate the purchase price, then tell them you changed your mind and want to lease the car, and that you want them to use that price to calculate the lease. They will give you a monthly lease payment, but I can virtually guarantee that they won't use the price you negotiated to figure the lease. To counteract that problem, you will then need to use the lease formula to determine what price they are using and to make sure they aren't just increasing the money factor or their fees as a way of increasing their profit without increasing the price you negotiated. I'm sorry that I threw away my copy of the post with the lease formula, but you can find it in the Honda Odyssey lease section. I believe I also referenced it in this line of postings. If you can't find it, send me another message, and I will see if I can find it. It is really easy to understand and critically important to know in order to get the best deal. All of the dealers use the same formula. Hope that is helpful! We were only successful in negotiating a price of $30,500 and a money factor that equates to about 2.7% on the EXLres. While that money factor is good, and our dealers fees were low, I think you could do a little better on the price, given that people have been buying it for less, according to this forum. However, since you are in New Jersey, your prices may be a bit higher than here in the Chicago area. |
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Replying to: raja4 (Feb 07, 2008 7:42 pm) We just leased the same from VIP Honda in N Plainfield. They were very helpful and fair. You should have them on your list. The general sales manager, Phillip is very nice and low pressure. Rhynes
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Replying to: rhynes (Feb 09, 2008 6:05 pm) Could you please let us know what is the deal you have got? That will be useful while we talk to him. Currently i have the following offers: 1.Open Road Honda ; 2300$ due at signing which includes first month payment and $382 per month for 36 months. 2. Princeton Honda: $2500 due at signing which includes first month payment and $ 370 per month for 36 months. 3. Honda at Rt22 Bridgewater $ 1700 which includes first month payment and $382 per month for 36 months. Please share your information which is helpful in getting the best deal. Thanks Raj
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Replying to: raja4 (Feb 10, 2008 6:53 pm)
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Replying to: eights38 (Feb 10, 2008 8:55 pm) I have sent an email to you. Let me know the dealers who will give the best deal. Thanks Raj |
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Replying to: raja4 (Feb 10, 2008 6:53 pm) $0 down $403 per month. Send me an email and I'll get you the specifics. Let's be real, you'll service your new car at whatever dealer is closest to you. All you want right now is to buy the car at the lowst possible price. Rhynes
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Replying to: rhynes (Feb 11, 2008 8:45 am) I stay in south brunswick let me know the details Thanks raj |
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Replying to: rhynes (Feb 11, 2008 8:45 am) I am in the same boat but looking for the EX-L no RES. Any pricing details you can share or is eveything with RES? I am located in the same general vicinity as well (Flemington). Steve
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Replying to: allnew3 (Feb 12, 2008 5:06 pm) Please look at my previous messages, i have signed today at autosport honda bridgewater, iam thinking i got the best deal $1800(with first month payment) and 380 per month. Raj
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