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2014 Honda Odyssey Lease Questions

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  • MichaellMichaell ColoradoPosts: 7,276

    @searchinginsd said: South Dakota. So the residual value is 55%?

    The MF is .00055. Lease cash of $1500. Residual of 45%.

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  • soleampsoleamp Posts: 5

    Can you give me the MF and Residual for Florida? Thanks.

  • MichaellMichaell ColoradoPosts: 7,276

    @soleamp said: Can you give me the MF and Residual for Florida? Thanks.

    What lease term and how many miles per year?

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  • soleampsoleamp Posts: 5

    @Michaell@Edmunds said: What lease term and how many miles per year?

    36 month with either 12 or 15k per year.

  • MichaellMichaell ColoradoPosts: 7,276

    @soleamp said:

    You did not mention with trim level, so the numbers below are for the EX-L (without Nav or RES)

    36 month/12K - .00055 and 56%

    36 month/15K - .00055 and 54%

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  • h22a1h22a1 Posts: 9

    What is the MF and residual for this month for an EX-L 3yr 12k?

  • kyfdxkyfdx Posts: 30,498

    @h22a1 said: What is the MF and residual for this month for an EX-L 3yr 12k?

    The MF is either .00055 or .00160, depending on your state.

    The residual is 56%, and there is $1500 lease cash available.

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  • 40mogul40mogul Posts: 8

    Hi I'm looking to lease a 2014 Touring Elite and received an internet quote from a dealer in the Chicago area for $41,223. Ultimately I want to do a lease with these terms. 36 months 15k miles/year Little to zero down.

    Not a complete rookie on leasing but really don't know how to figure out what is a good deal with the above info.

    Any help appreciated!

  • MichaellMichaell ColoradoPosts: 7,276

    @40mogul said: Hi I'm looking to lease a 2014 Touring Elite and received an internet quote from a dealer in the Chicago area for $41,223. Ultimately I want to do a lease with these terms. 36 months 15k miles/year Little to zero down.

    Not a complete rookie on leasing but really don't know how to figure out what is a good deal with the above info.

    Any help appreciated!

    Is the $41,223 the MSRP or the selling price? We'll need to know both to calculate a payment.

    Be aware that Illinois, unlike most states, taxes the entire value of the car, not just the depreciated value or payment amount. This will substantially increase your lease payment.

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  • soleampsoleamp Posts: 5
    edited April 8

    @Michaell@Edmunds said:You did not mention with trim level, so the numbers below are for the EX-L (without Nav or RES) 36 month/12K - .00055 and 56% 36 month/15K - .00055 and 54%

    Sorry, I am looking at the EX, not the EX-L. Does that change things?

  • kyfdxkyfdx Posts: 30,498

    Same numbers for the EX

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  • soleampsoleamp Posts: 5
    What lease cash is available this month on EX in Florida?
  • j_michaelj_michael Posts: 9

    Interested in EX-L (No Nav, No RES) Located in Illinois What is the MF and residual for 36mo/ 12k and 15k? Any special dealer cash offers I should be aware of?

    Can anyone point me to an "intro to leasing" discussion?

  • kyfdxkyfdx Posts: 30,498

    @soleamp said: What lease cash is available this month on EX in Florida?

    $1000

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  • kyfdxkyfdx Posts: 30,498

    @j_michael said: Interested in EX-L (No Nav, No RES) Located in Illinois What is the MF and residual for 36mo/ 12k and 15k? Any special dealer cash offers I should be aware of?

    Can anyone point me to an "intro to leasing" discussion?

    .00055 MF and 56%/54% residual. $1500 lease cash.

    Leasing is rough in Illinois, because you pay sales tax on the full price of the vehicle. Hard to make a case for leasing there, in my opinion.

    Edmunds has quite a few articles on leasing. You can find them, here:
    http://www.edmunds.com/car-leasing/

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  • j_michaelj_michael Posts: 9

    Looks like IL being a wasteland for leases may change soon: http://www.jdsupra.com/legalnews/illinois-passes-car-lease-tax-legislatio-34534/

    Fingers crossed.

  • kyfdxkyfdx Posts: 30,498

    That would be awesome.. GA just went the other direction..

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  • ucfphi225ucfphi225 Posts: 18

    Looking at a EX-L w/ RES. Initial "offer" that the dealer is looking to get (prior to credit approval) is $373 ($397 after 6% tax in Florida) per month. This is with a total of about $1400 due at signing, which includes first month, tax, tag, etc. This could change up or down (I'm guessing not down) depending on credit approval.

    What do you guys think of this starting point?

  • MichaellMichaell ColoradoPosts: 7,276

    @ucfphi225 said: Looking at a EX-L w/ RES. Initial "offer" that the dealer is looking to get (prior to credit approval) is $373 ($397 after 6% tax in Florida) per month. This is with a total of about $1400 due at signing, which includes first month, tax, tag, etc. This could change up or down (I'm guessing not down) depending on credit approval.

    What do you guys think of this starting point?

    What is the MSRP and selling price? Lease term and miles per year?

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  • comer98comer98 Posts: 11

    @kyfdx can you confirm the MF and Residual on a 2014 EX-L, 36 mos 12k lease in Nebraska? Is it 56% and .00055? Also is the $1500 lease cash available here? Thanks

  • ucfphi225ucfphi225 Posts: 18
    edited April 10

    @Michaell@Edmunds said: What is the MSRP and selling price? Lease term and miles per year?

    Not sure what the selling price ends up being right now, but the term is 36 months, 12k miles.

    And I just got notice that my approval came through, so that quote is now a hard offer. It includes $500 in "flex-cash" that the dealership is offering.

  • kyfdxkyfdx Posts: 30,498

    @comer98 said: kyfdx can you confirm the MF and Residual on a 2014 EX-L, 36 mos 12k lease in Nebraska? Is it 56% and .00055? Also is the $1500 lease cash available here? Thanks

    Nebraska is in Region B, and I don't think they get the .00055 MF. The EX-L 36mo, 12K/yr residual is 56%. And, the $1500 lease cash should still be good.

    I'm not positive, but I think the MF for Region B is .00160, which is a huge difference.

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  • comer98comer98 Posts: 11

    @kyfdx@Edmunds said: Nebraska is in Region B, and I don't think they get the .00055 MF. The EX-L 36mo, 12K/yr residual is 56%. And, the $1500 lease cash should still be good.

    I'm not positive, but I think the MF for Region B is .00160, which is a huge difference.

    Thanks for your help. I backed into the MF based on Honda's advertised lease on the LX in our area and got right around .00055 on the first payment due at signing offer and .00045 for the no payment at signing offer, so I think that we are benefiting from the lower MFs.

    Dealer quote was indicative of the lower MF as well, initial quote was $390/mth with $0 down and first payment due. I figure this is about $900 profit to the dealer assuming lease cash and acquisition are rolled into the deal which is not as good as it should be, so I will keep working them.

    Thanks so much for your input into these forums. They have been an awesome resource over the years to understand and get the best deals possible.

  • foxb11foxb11 Posts: 16

    I am currently leasing a 2011 Odyssey EX-L. My lease is up in May, and I plan to lease a 2014 Odyssey EX-L. I live in LA. Reading the past few months of comments, it appears that the current MF is .00055. Do you know when the MF will change to something higher, i.e. is .00055 part of a promotion that will be ending soon? I'd prefer to wait until my lease is just about up but would be willing to turn it in a month early if it meant capitalizing on a significantly lower MF.

  • kyfdxkyfdx Posts: 30,498

    @foxb11 said: I am currently leasing a 2011 Odyssey EX-L. My lease is up in May, and I plan to lease a 2014 Odyssey EX-L. I live in LA. Reading the past few months of comments, it appears that the current MF is .00055. Do you know when the MF will change to something higher, i.e. is .00055 part of a promotion that will be ending soon? I'd prefer to wait until my lease is just about up but would be willing to turn it in a month early if it meant capitalizing on a significantly lower MF.

    The money factors and residuals are scheduled to be good through May 12th. There is also the $1500 lease cash. Where it goes after that is just a guess.

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  • foxb11foxb11 Posts: 16
    edited April 11

    @kyfdx@Edmunds said: The money factors and residuals are scheduled to be good through May 12th. There is also the $1500 lease cash. Where it goes after that is just a guess.

    Thanks. Question about the lease cash: does it drop the negotiated price of the vehicle, or does it go towards the down payment?

  • kyfdxkyfdx Posts: 30,498

    @foxb11 said: Thanks. Question about the lease cash: does it drop the negotiated price of the vehicle, or does it go towards the down payment?

    It's a dealer incentive, so you have to account for it in your negotiated price... So, if you think invoice is a fair price, you should negotiate for invoice minus $1500.

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  • MichaellMichaell ColoradoPosts: 7,276

    @ucfphi225 said: Not sure what the selling price ends up being right now, but the term is 36 months, 12k miles. And I just got notice that my approval came through, so that quote is now a hard offer. It includes $500 in "flex-cash" that the dealership is offering.

    The selling price is important as that determines how much of the payment is based on depreciation.

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  • ucfphi225ucfphi225 Posts: 18

    @Michaell@Edmunds said: The selling price is important as that determines how much of the payment is based on depreciation.

    The selling price was locked in by TrueCar at $32,865 from what it appears.

  • MichaellMichaell ColoradoPosts: 7,276

    @ucfphi225 said: The selling price was locked in by TrueCar at $32,865 from what it appears.

    And the MSRP?

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