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2014 Honda Odyssey Lease Questions

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  • mochlamochla Posts: 5

    @j_michael said: The govenor signed the bill. According to the text of the bill, it reads to me that it would become effective 7/1/14. However, the link above says it will not become effective until 1/1/15. I too am in a dilemma over this.

    The Illinois Automobile Dealers Association had this on their website and I called and got confirmation that the bill will not go into effect until 1/1/15. They will be modifying the effective date within the bill of 7/1/14 to match the 1/1/15 date. Here is a link to their site: http://illinoisdealers.com/

    So now I have to decide between paying the extra lease tax or waiting 7 months to lease a car. Ugh!

  • cndnbkncndnbkn Posts: 39

    Thanks again to all the posters and moderators in this forum. We just picked up a 2014 Honda Odyssey EX-L Diamond White Pearl with Truffle interior. Purchase price Paid 31,279, MSRP $36,455, down payment $425(includes first month payment and $75 tag fee).

    36 months, 12k miles per year, 56% residual(20,414.88), .00055 money factor(1.32%)

    Payment was $343 per month for just depreciation and rent, tax(3% just on depreciation in NC) was rolled in and added $10.xx per month. Total payment $353.89.

    A good lease as I see it is getting the payment to be 1% of MSRP with effectively no money down, in this case we are at .941 which is an excellent lease.

    Great vehicle, could not be happier with all the tech, safety and luxury in this vehicle.

    no trade in or anything else to cloud these numbers.

  • kyfdxkyfdx Posts: 29,850

    That's a really nice deal.. thanks for reporting back. Nothing like real-world numbers.

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    Prices Paid, Lease Questions, SUVs

  • thelexthelex Posts: 6

    We've been offered this deal for a 2014 Odyssey Touring Elite.

    36 month lease 15k mi/yr = 36k mi total

    Cap Cost $39,535.00 $568.86 first payment incl our local tax $595 Honda Financial Services acquisition fee $385.75 DMV license and registration $1567.61 total drive off

    How does this deal sound? Thanks

  • thelexthelex Posts: 6

    oops, I mean 45k mi total on the lease

  • MichaellMichaell ColoradoPosts: 6,410

    @thelex said: We've been offered this deal for a 2014 Odyssey Touring Elite.

    36 month lease 15k mi/yr = 36k mi total

    Cap Cost $39,535.00 $568.86 first payment incl our local tax $595 Honda Financial Services acquisition fee $385.75 DMV license and registration $1567.61 total drive off

    How does this deal sound? Thanks

    What is the MSRP?

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  • thelexthelex Posts: 6

    $45,280 is the MSRP

  • MichaellMichaell ColoradoPosts: 6,410

    @thelex said: $45,280 is the MSRP

    Thank you ... using your MSRP and selling price with the residual of 49% and a base MF of .00055, I calculate a pre-tax payment of $515.83. Does your selling price include the $1500 lease cash available from Honda this month?

    Also, what state is this in? Illinois, Texas and Georgia have different tax laws that increase the lease payment.

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  • johnrobbins2johnrobbins2 Posts: 3
    Michell, anywhere I can find that $1500 Honda lease cash online anywhere so I can show it to the dealer?
  • MichaellMichaell ColoradoPosts: 6,410

    @johnrobbins2 said: Michell, anywhere I can find that $1500 Honda lease cash online anywhere so I can show it to the dealer?

    You can check the 'incentives' pages here at Edmunds or maybe even on the Honda website.

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  • thelexthelex Posts: 6

    Yes, the selling price includes the $1500 lease cash. I've had other dealers try and tell me that you don't get the lease cash if you negotiate down the selling price lol.

    @Michaell said: Thank you ... using your MSRP and selling price with the residual of 49% and a base MF of .00055, I calculate a pre-tax payment of $515.83. Does your selling price include the $1500 lease cash available from Honda this month? Also, what state is this in? Illinois, Texas and Georgia have different tax laws that increase the lease payment.

  • aytayt Posts: 8

    Hi... I am new here. I am interest in leasing a 2014 Honda Odyssey EX-L. I was quoted the following over the phone. Can you please let me know if this is a good deal or close to it. Thank you.

    MSRP: $36,455 (Don't have the negotiated price) Monthly Payment: $405 including tax at 9% (CA) Term: 36 months and 15K miles per year Down payment: $1,000 (includes 1st month payment)

  • MichaellMichaell ColoradoPosts: 6,410

    @ayt said: Hi... I am new here. I am interest in leasing a 2014 Honda Odyssey EX-L. I was quoted the following over the phone. Can you please let me know if this is a good deal or close to it. Thank you.

    MSRP: $36,455 (Don't have the negotiated price) Monthly Payment: $405 including tax at 9% (CA) Term: 36 months and 15K miles per year Down payment: $1,000 (includes 1st month payment)

    Seems to be a fair deal, though without the selling price it's hard to fully evaluate.

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  • aytayt Posts: 8

    Hi Michaell...I called the dealer back and they quoted me selling price of about $31,827...With that information, would you be able to tell me if good deal

  • MichaellMichaell ColoradoPosts: 6,410

    @ayt said: Hi Michaell...I called the dealer back and they quoted me selling price of about $31,827...With that information, would you be able to tell me if good deal

    Using your MSRP and selling price with the MF of .00055 and residual value of 54%, I get a pre-tax payment of $365.59. 9% tax takes the payment of $398.49, pretty close to the $405/mo that the dealer quoted.

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  • thelexthelex Posts: 6
    edited June 10

    This is in California. And yes, the selling price includes the $1500 lease cash. Thx

    @thelex said: Yes, the selling price includes the $1500 lease cash. I've had other dealers try and tell me that you don't get the lease cash if you negotiate down the selling price lol.

    Also, what state is this in? Illinois, Texas and Georgia have different tax laws that increase the lease payment.

  • akh217akh217 Posts: 4

    Hello, I just found this page and I want to thank everyone for the great information here! I'm looking to lease an Odyssey in Southern California and I was wondering if the $1500 lease cash is still available? I thought I read somewhere that it was expired. I'm going back to a dealer that had initially quoted me the following for the EX-L: $34,000 $2400 down $410/month. I am actually looking for an EX-L RES now and hopefully in a better position to negotiate.

  • MichaellMichaell ColoradoPosts: 6,410

    @akh217 said: Hello, I just found this page and I want to thank everyone for the great information here! I'm looking to lease an Odyssey in Southern California and I was wondering if the $1500 lease cash is still available? I thought I read somewhere that it was expired. I'm going back to a dealer that had initially quoted me the following for the EX-L: $34,000 $2400 down $410/month. I am actually looking for an EX-L RES now and hopefully in a better position to negotiate.

    $1500 lease cash is still available.

    What lease term and miles per year?

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  • akh217akh217 Posts: 4
    edited June 10

    It was for a 3 year 12,000 mile term. I'm looking for a good price(monthly) I can shoot for with 0 down or $1000 down. I'm getting the impression, from looking around, that putting more down on a lease is not ideal. Thanks!

  • MichaellMichaell ColoradoPosts: 6,410

    @akh217 said: It was for a 3 year 12,000 mile term. I'm looking for a good price(monthly) I can shoot for with 0 down or $1000 down. I'm getting the impression, from looking around, that putting more down on a lease is not ideal. Thanks!

    We recommend not putting money down to lower your payment.

    Be aware that the residuals on the EX-L with RES are 2 points lower than on the EX-L.

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  • wifesayssowifesaysso Posts: 1

    Just signed a new lease-Philly Western Suburbs, EX-L RES,$440/month, w tax, 36/12k, no money down. They got me out of current lease 1 year early. Had been quoted as much as $540/ month. In awe of the lower prices on this forum. How did I do?

  • akh217akh217 Posts: 4
    Thanks for the help! Would it make a big difference if we were to hold off until July?
  • MichaellMichaell ColoradoPosts: 6,410

    @akh217 said: Thanks for the help! Would it make a big difference if we were to hold off until July?

    It's hard to predict what the numbers will be next month - could be better, could be worse.

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  • akh217akh217 Posts: 4

    Thanks, that's what I figured. I did end up back at the dealer and got the following: 2014 Odyssey EX-L White Diamond Pearl/Truffle

    3 year 12,000 Miles/year MSRP $36,445 Sale Price $32,600 Additional Cap cost - $595 (I think this is the bank fee) Down: $1000 (includes 1st payment) $414.84/month (including 9% tax) RV 56% ($20,409.20)

    Probably not the greatest deal, but way better than I could have done without this forum. I'm fairly certain of the numbers, although I am going from memory as I left the paperwork at home. Thanks!

  • thelexthelex Posts: 6

    Update: We just got a 2014 Touring Elite 36 mo lease @ 15k mi/yr. Total lease payment including local tax in California is $550/mo. Drive off out of my pocket was net ZERO. I didn't have to put one penny down to drive the vehicle off the lot.

    We had a 2011 Touring Elite that was 2 months from the end of lease. Vehicle was already over it's mileage cap by 850 mi. Slight damage to front and rear bumpers the form of scratches. Otherwise vehicle is in great shape.

    Payoff on the old van was about $26k. KBB fair value on trade in was about 29k. They offered us enough on the trade to pay off the remaining 2 months lease, cover the damages, and take care of the end of lease $350 termination fee.

    This is actually about $100 less than our old lease payment. And we got a higher mileage allotment.

  • jtg22jtg22 Posts: 3
    edited June 16

    can you please let me know if this is a fair deal? 14 EX-L MSRP: $36,455. Purchase price: somewhere around $32,500. $0 drive off. $0 down. all taxes, fees, ttl, etc rolled up into payments. $415/mo 36 mos. 12k miles. southern california. thanks.

  • speedra421speedra421 Posts: 1

    I just signed paperwork to lease a 2014 Odyssey EX-L without RES and without NAV. Color = Smoky Topaz. Selling price was 29490. No money down. Including 3% sales tax and first year property taxes payments are 375/month for 36 month/15K lease. Money factor 0.00055. Residual was 54%. Deal was done in VA but registering the car in NC. I think this was a good deal but just wondering what other people are getting. Thanks!

  • chuckjrchuckjr Posts: 61

    What are the residual and MF on the 2014 Ex and EX-L 36 mos 12k miles?

    Does anyone know if Honda will offer a loyalty credit if I trade in an acura?

    thanks.

  • MichaellMichaell ColoradoPosts: 6,410

    @chuckjr said: What are the residual and MF on the 2014 Ex and EX-L 36 mos 12k miles?

    Does anyone know if Honda will offer a loyalty credit if I trade in an acura?

    thanks.

    EX and EX-L have the same residual at 56% for 36/12 and MF of .00055. $1000 lease cash on EX; $1500 on EX-L.

    Don't know of any loyalty credits from Honda.

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  • chuckjrchuckjr Posts: 61

    thanks. How much do those numbers on the Ex-L change for 24 mos?

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