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2014 Honda Odyssey Lease Questions

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  • Michaell, I checked there per your suggestion to a previous poster and there isn't much on EX-L RES. I do see a lot of people posting on EX-L with no options around the same price as what I was quoted with RES so I'm thinking it's a good deal?
  • MichaellMichaell ColoradoPosts: 6,519

    @kyliebradyappa said: Michaell, I checked there per your suggestion to a previous poster and there isn't much on EX-L RES. I do see a lot of people posting on EX-L with no options around the same price as what I was quoted with RES so I'm thinking it's a good deal?

    Yep, the folks over on the Prices Paid board are adamant about waiting for a great price. I'd love to hear what they have to say when you post a price for the EX-L RES that is the same as their EX-L quotes. :smile:

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  • kyliebradyappakyliebradyappa Posts: 10
    edited August 15
    So I'm about to agree on the following terms for an EX-L RES:

    Negotiated price: $33,500
    Honda Lease Cash: $1,500
    Equity on previous lease: $1,700 TBD ($1,200 TBD + $500 as extra incentive)
    Net Cap: $30,300 TBD

    With current 54% residual and 0.00055 MF on a 36 month/12k, I'm getting a per month estimate of $322.71 with 8% tax included. I'm thinking this is a good deal. Thoughts?
  • dragosdordragosdor Posts: 5

    Can someone help me with the best lease offer on a '14 Odyssey EX-L in Houston, TX Aug 2014? I was given a sales price of 34500 and monthly payment of $399 after a trade in equity of $3000 (use the equity in the trade in as down payment) What is the best price paid for this vehicle? also I read about this $1500 cash incentive...how can I make sure I receive that? Thank you!

  • kyfdxkyfdx Posts: 29,951

    @kyliebradyappa said: So I'm about to agree on the following terms for an EX-L RES:
    Negotiated price: $33,500 Honda Lease Cash: $1,500 Equity on previous lease: $1,700 TBD ($1,200 TBD + $500 as extra incentive) Net Cap: $30,300 TBD
    With current 54% residual and 0.00055 MF on a 36 month/12k, I'm getting a per month estimate of $322.71 with 8% tax included. I'm thinking this is a good deal. Thoughts?

    Can't calculate without knowing the MSRP. Are you positive you are getting $1500 off the negotiated price? The $1500 is dealer lease cash. If they've quoted you a number, they have probably already included it. Also, what is the meaning of TBD in regards to your lease equity and Net Cap? To Be Determined?

    Don't forget to account for acquisition fee, title/license/doc fees.

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  • MichaellMichaell ColoradoPosts: 6,519

    @dragosdor said: Can someone help me with the best lease offer on a '14 Odyssey EX-L in Houston, TX Aug 2014? I was given a sales price of 34500 and monthly payment of $399 after a trade in equity of $3000 (use the equity in the trade in as down payment) What is the best price paid for this vehicle? also I read about this $1500 cash incentive...how can I make sure I receive that? Thank you!

    What is the MSRP? Use the pricing tools at the top of the page to determine your target price, either with or without the $1500 lease cash.

    What lease term and how many miles per year?

    We recommend that you not use your trade equity as a down payment - if the vehicle is stolen or totaled, you would be out that money.

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  • Hi kyfdx,

    I know you need the MSRP to calculate but I I don't have the exact price yet so I just used the $38,055 standard for the time being. I will get the MSRP later today and will let you know.

    As for the $1.5k cash, I know it is not baked in that number as I was negotiating on possibly purchasing the vehicle. They also confirmed I would get it on top of the negotiated price.

    The TBD on the equity of trade in and net cap is due to the fact that they haven't inspected my current lease yet. I told them how many miles under I was and they gave me an estimate on how much I could possibly receive towards the new lease pending inspection...hence TBD. I'm pretty sure they will eat into this to make some money "back" once they inspect.
  • dragosdordragosdor Posts: 5

    @Michaell said: We recommend that you not use your trade equity as a down payment - if the vehicle is stolen or totaled, you would be out that money.

    Michael I don't know the exact MSRP on the vehicle they offered, but I remember the only dealer installed option was a $299 tint. So I would estimate $36600+$299 to be the starting MSRP price. Lease calculation is for 3yr/12k

    On the equity down payment issue...I don't understand your recommendation. If they require some $2000+tax at signing, then is it better to put cash instead of trade? Will that make a difference in case of a total?

  • MichaellMichaell ColoradoPosts: 6,519

    @dragosdor said: On the equity down payment issue...I don't understand your recommendation. If they require some $2000+tax at signing, then is it better to put cash instead of trade? Will that make a difference in case of a total?

    I don't buy into the concept of required money due at signing. It's your choice to roll in any upfront taxes and fees into the cap cost or pay them up front. If you want to pay it up front, certainly you can choose to use cash or trade equity. If not, then the payment would go up accordingly.

    What we're recommending is not to put any down payment (or cap cost reduction) at the beginning of the lease. If the car is stolen or totaled, you would be out that money.

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  • i_spyi_spy Posts: 10

    Hi there,

    I am debating between two models. Could you please let me know the residual and money factor on a 36 months / 10k miles per year lease on the following? I assume the $1500 lease credit can apply for both models. Also, usually how much does Honda charge on lease end excess miles? Is it possible to lower the MF even lower with multiple deposits?

    2014 Odyssey EX-L 2014 Odyssey EX-L w/ RES

    Thanks,

    i-Spy

  • MichaellMichaell ColoradoPosts: 6,519

    @i_spy said: Hi there,

    I am debating between two models. Could you please let me know the residual and money factor on a 36 months / 10k miles per year lease on the following? I assume the $1500 lease credit can apply for both models. Also, usually how much does Honda charge on lease end excess miles? Is it possible to lower the MF even lower with multiple deposits?

    2014 Odyssey EX-L 2014 Odyssey EX-L w/ RES

    Thanks,

    i-Spy

    Honda does not support 10K leases; the RV for 36/12 on the EX-L is 56% and on the EX-L w/ RES is 54%. .00055 MF and $1500 lease cash.

    Honda does not support multiple security deposits, as the base MF is so low to begin with.

    I don't have the exact numbers from Honda, but I suspect the overage is charged at .10 to .25 per mile.

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  • i_spyi_spy Posts: 10

    Thanks, Michaell

    One more question. What's the current standard/wholesale bank fee if I go through Honda Finance for the lease?

  • kyfdxkyfdx Posts: 29,951

    @i_spy said: Thanks, Michaell

    One more question. What's the current standard/wholesale bank fee if I go through Honda Finance for the lease?

    $595

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  • mscott07mscott07 Posts: 3

    Hi, I am planning to contact a dealer tomorrow about leasing an EX-L w/ RES and was wondering about this $1500 lease cash. I can't find anything about it. Please tell! Thanks. :-)

  • kyfdxkyfdx Posts: 29,951

    @mscott07 said: Hi, I am planning to contact a dealer tomorrow about leasing an EX-L w/ RES and was wondering about this $1500 lease cash. I can't find anything about it. Please tell! Thanks. :-)

    It's cash that Honda pays the dealer for selling/leasing the vehicle. Since you know about it, you can adjust your offer accordingly.

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  • ranajoranajo Posts: 50

    Hi, am looking to lease an Odyssey EX in Dallas.

    What are the supported lease programs by Honda? I assume it is 3 years with 12K miles. Could you provide me with the money factor and residuals based on 12K and 15K miles on a 3 year lease? If the optimal supported lease is longer than 3 years, please provide the relevant information for that period.

    Also, what is the bank fee that is charged on a lease? Does the EX qualify for the $1,500 incentive?

    Please note that this is for an EX as opposed to a EX-L.

    Thanks for your help. I am hoping to conclude a deal this weekend and so this information is obviously critical. Most of the money factor and residual information seems to be for the EX-L.

  • mscott07mscott07 Posts: 3

    Thank you, I did find the lease cash online. Where are the lease negotiating tools mentioned at the top of the page?

  • mscott07mscott07 Posts: 3

    Also, ive seen you mentioned the exl w/ res is 2 points lower on residual. What does that mean exactly?

  • i_spyi_spy Posts: 10
    Just got a deal on a 2014 Ody EX-L. $385 per month for 35 months, $0 drive off. sounds good?
  • i_spyi_spy Posts: 10
    On a 36 months lease with 12k per year
  • MichaellMichaell ColoradoPosts: 6,519

    @i_spy said: Just got a deal on a 2014 Ody EX-L. $385 per month for 35 months, $0 drive off. sounds good? 36mo 12k

    What were the MSRP and selling price?

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  • MichaellMichaell ColoradoPosts: 6,519

    @ranajo said: Hi, am looking to lease an Odyssey EX in Dallas.

    What are the supported lease programs by Honda? I assume it is 3 years with 12K miles. Could you provide me with the money factor and residuals based on 12K and 15K miles on a 3 year lease? If the optimal supported lease is longer than 3 years, please provide the relevant information for that period.

    Also, what is the bank fee that is charged on a lease? Does the EX qualify for the $1,500 incentive?

    Please note that this is for an EX as opposed to a EX-L.

    Thanks for your help. I am hoping to conclude a deal this weekend and so this information is obviously critical. Most of the money factor and residual information seems to be for the EX-L.

    Odyssey EX and EX-L have the same RV - 54% for 36/15. Add 2% for 12K.

    .00055 MF. The difference is the lease cash is $1000 on the EX but $1500 on the EX-L

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  • MichaellMichaell ColoradoPosts: 6,519

    @mscott07 said: Also, ive seen you mentioned the exl w/ res is 2 points lower on residual. What does that mean exactly?

    If the residual on the EX-L is 51%, the residual on the EX-L with RES would be 49%.

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  • brizzlebrizzle Posts: 7
    Got a offer today on EXL with RES MSRP $38205 sale price $35072. 36 /12 lease for $466 down and $466 a month OTD in SC. Good deal ? Or can we do better?
  • MichaellMichaell ColoradoPosts: 6,519

    @brizzle said: Got a offer today on EXL with RES MSRP $38205 sale price $35072. 36 /12 lease for $466 down and $466 a month OTD in SC. Good deal ? Or can we do better?

    54% and .00055 MF. With your MSR and selling price, I get a pre-tax payment of $431.78.

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  • brizzlebrizzle Posts: 7
    So with tax, tag , and other fees ( approx) $1000, not a bad deal? Does MF and RV change on the touring or touring elite?
  • MichaellMichaell ColoradoPosts: 6,519

    @brizzle said: So with tax, tag , and other fees ( approx) $1000, not a bad deal? Does MF and RV change on the touring or touring elite?

    MF is the same for all trim levels. Touring and Touring Elite RV for 36/12 drops to 51%.

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  • yortizyortiz Posts: 14

    Is the residual on a 2014 EX-L 54 or 56%? I see both mentioned in previous posts this month. Thanks.

  • kyfdxkyfdx Posts: 29,951

    @yortiz said: Is the residual on a 2014 EX-L 54 or 56%? I see both mentioned in previous posts this month. Thanks.

    What term and mileage?

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  • yortizyortiz Posts: 14
    36 months/12k and 15k. Thanks.
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