- #1756 of 1838
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Leasing Acura MDX vs Odyssey (at $525 per month)
by hondabuyer8
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Jul 17, 2009 (9:42 pm)
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Replying to: bigdadi118 (Jul 14, 2009 8:08 am)
Agree there are no incentives for leasing Odyssey now (though I expect there will be dealer cash back next month or in September if any 2009s left), the rate I got for the Odyssey ($525 p/month, nothing down except taxes, bank fee, registration, and security deposit) is actually cheaper than the MDX rate in the link you sent, which is
"2009 MDX Featured Special Lease $499.00 per month for 36 months. $2,899.00 total due at signing. Excludes security deposit, down payment, taxes, titles and fees. For well-qualified buyers."
The extras in the MDX would be 2899 + crazy intangibles like "down payment" (!!) and "fees". The 2899 alone amortized over 36 months is $80, bringing the MDX to 579 and that is not counting the "downpayment". . More sleazy dealer tricks and wording to push up the buyer's total cost. And you need to know what the credit score cut off is for "well qualified". Honda's Tier One is 720. No way is the MDX a better deal even without incentives.
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- #1757 of 1838
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Re: Leasing Acura MDX vs Odyssey (at $525 per month) [hondabuyer8]
by andy603
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Jul 18, 2009 (3:51 am)
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Replying to: hondabuyer8 (Jul 17, 2009 9:42 pm)
sorry, but I dont understand folks that only care about the monthy payment and can say its a 'good' or 'bad' price. If your goal is to be under a certain amount a month that of course make sense but to seemingly negotiate based on that is like give the dealer your cards face up. You gotta negotiate a walk out the door price or cap cost first and ideally do your homework on monthly payments at home in a spreadsheet and take it to the dealer with you...a table of various prices, money factors, etc so you can see what it might be.
just my 2 cents.
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- #1758 of 1838
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Re: Leasing Acura MDX vs Odyssey (at $525 per month) [andy603]
by bigdadi118
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Jul 18, 2009 (8:57 am)
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Replying to: andy603 (Jul 18, 2009 3:51 am)
yes lots ot other things to consider, actually it is a sliding scale to compare the lease of Odyssey and MDX ... minivan : suv ... 2wd : awd ... tutor : rolex ... mercury : lincoln ... with the increase amount : can get how much more (do I need them) ... residual amount in buying after the lease.
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- #1759 of 1838
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Re: Leasing Acura MDX vs Odyssey (at $525 per month) [bigdadi118]
by jayrider
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Jul 18, 2009 (12:21 pm)
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Replying to: bigdadi118 (Jul 18, 2009 8:57 am)
I know it's apples to oranges but I figured a lease on a new Audi Q5 quattro premium with leather , roof etc. Msrp 39170 sell for 36700. 36 months - 15k miles - $561 + tax and fees. In illinois may add about $75. Zero down except first month. They are only charging 1.2% interest.
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- #1760 of 1838
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Re: Leasing Acura MDX vs Odyssey (at $525 per month) [jayrider]
by andy603
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Jul 18, 2009 (3:49 pm)
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Replying to: jayrider (Jul 18, 2009 12:21 pm)
need to know a bit more to determine how good that lease was..on the surface it sounds great...1.2%=.0005 money factor...basically interest free. You got the car at about 7% off of MSRP which doesn't sound great but I dont know what your residual % was either.
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- #1761 of 1838
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Re: Leasing Acura MDX vs Odyssey (at $525 per month) [andy603]
by jayrider
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Jul 19, 2009 (5:37 am)
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Replying to: andy603 (Jul 18, 2009 3:49 pm)
Just figured that lease for fun. Not in the market. Res is 47% -- just took cap cost off truecar. MF was as you posted -- .0005. Got the info off ridewithg.com. Would have tried to negotiate on price/audicare etc but as i said -- not buying or leasing anything now.
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- #1762 of 1838
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Need help evaluating buying a 2007 Honda Odyssey
by car_newbie
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Jul 19, 2009 (8:17 pm)
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I am considering buying a car from someone whose lease term is up. It is a 2007 Honda Odyssey EX-L with 35K miles.
The seller tells me that her lease is up and she is considering selling the car to make a little bit of money, if she is able to make some money, she will sell it to a private party, if not, she will return it to Honda Finance. To buy the car, I (and the lessee) would need to send checks to Honda.
I am trying to figure out how to evaluate the deal and the numbers on her end. Been researching money factor and residual value in the past 30 min but can't seems to make sense of those terms for this car. Would appreciate any help you could provide!
Thanks!
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- #1763 of 1838
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Re: Need help evaluating buying a 2007 Honda Odyssey [car_newbie]
by bigdadi118
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Jul 19, 2009 (9:41 pm)
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Replying to: car_newbie (Jul 19, 2009 8:17 pm)
Honda is unable to conduct third-party sales. Her leased vehicle may only be purchased by her, the original lessee(s) or by a dealer.
She'll get the title from mail (2 to 4 days) as soon as Honda received full payment. Probably when you agreed a price to buy the car, and she'll ask you to cut 2 checks : buyout for Honda, 1 profit to her. She signs the back of title and transfer ownership. Check the price in KBB re trade-in and private sale price re this car. Sale / Purchase agreement should be setup and she should not drive the car when waiting for the title in a few days. In theory the car is yours once you paid Honda and her with checks, just a matter of time for the title to arrive from Honda or RMV in mail.
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- #1764 of 1838
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Re: Need help evaluating buying a 2007 Honda Odyssey [bigdadi118]
by mrthnman
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Jul 20, 2009 (6:14 am)
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Replying to: bigdadi118 (Jul 19, 2009 9:41 pm)
you may have to pay tax twice on this tranasction for the 2 changes in ownership....
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- #1765 of 1838
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Re: Need help evaluating buying a 2007 Honda Odyssey [mrthnman]
by jayrider
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Jul 20, 2009 (8:19 am)
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Replying to: mrthnman (Jul 20, 2009 6:14 am)
Someone has to pay tax on the first buyout from honda. Since honda only sells to the leaser than that's whose responsible. When you buy from that party you pay sales tax. Didn't think of that one bigdadi118, could be a deal breaker if the seller wants to add the sales tax into the sale price. 20k X 7% = $1400 X 2 = $2800.. Unless the buyout is real low -- not sure it makes sense.
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