Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2014 Honda Odyssey Lease Questions

179111213

Comments

  • kyfdxkyfdx Posts: 31,103

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

    63% residual.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • chuckjrchuckjr Posts: 61

    thanks kyfdx@Edmunds

  • pokergempokergem Posts: 1

    Hi everyone! First time leasing a car, can someone tell me how this looks (I am in NJ):

    2014 Honda Odyssey Touring Exterior Color: Crystal Black Interior: Truffle MSRP: $42,710.00 Selling Price: $39,103.00 Lease Term: 36 Months Mileage: 12,000 per year Out-of-pocket: $1,000.00 Monthly Payment: $577.00 Out-of-pocket: $2,000.00 Monthly Payment: $545.00

    I was told that the residual was 51% or $21,782 and the money factor is .00055. I am coming up with $553 w/ no money down. is that correct?!?

  • kyfdxkyfdx Posts: 31,103

    I get $515/mo.+ tax..

    No money down and $1000 out of pocket are pretty much the same thing... For $1000 out of pocket, the $1000 goes to the first payment and title/registration fees. So, you have to add the $595 acquisition fee to the CAP cost. Adding in $595, I get $532./mo. + tax.. That makes $577/mo. pretty close...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • awise1awise1 Posts: 2

    Below is what I was JUST offered moments ago via email. Southeastern PA, 25 miles west of Philly.

    2014 Odyssey EX-L

    MSRP $36455.00
    Your Sale Price $32450.00
    Trade $10600.00 includes payoff Money Factor .00055 residual 56% or $20415.00

    35 payments of $439.00 plus tax = 478.94 out the door with only $730.00 due at signing

    What do you think?

  • awise1awise1 Posts: 2

    @wifesaysso said: 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?

    Better than me. What dealer did you go to? I was offered this at Roberts in Downingtown:

    2014 Odyssey EX-L

    MSRP $36455.00 Your Sale Price $32450.00 Trade $10600.00 includes payoff Money Factor .00055 residual 56% or $20415.00

    35 payments of $439.00 plus tax = 478.94 out the door with $730.00 due at signing

  • chuckjrchuckjr Posts: 61

    The deal @awise1 posted is the same I was offered in LA and seems to be coming from Honda with the 1500 dealer cash built in. I have only seen the "deal" listed on one local dealers site but they are listing it as a MFR offer. With $1200 drive off I was quoted $375 pre-tax. Sales price was $32900

    _Manufacturer Offer 2014 Odyssey 6 Speed Automatic EX w/ Leather Featured Special Lease

    $299 per month for 36 months $3,499 cash due at signing Applies to select new 2014 Honda Odyssey. Offer only valid 5-13-2014 through 7-07-2014 $299.00 per month for 36 months. $3,499.00 total due at signing._

  • jsalimaojsalimao Posts: 2
    Hi, I am looking at leasing a 2014 Odyssey but the price I was quoted seems off. I thought I was prepared by checking what the tmv was but the numbers didn't add up. I was quoted 26,000 plus ~900 for inception for the LX which seemed like a good deal based on the tmv of 27,700. The invoice was 29,000. However the payment was 372 per month (36 month/12k). I believe this is after tax (7%). Do they usually sell the car for less when doing a lease? Do the numbers add up here? I didn't think I needed to know to MF or residual. I thought these were fixed. Do these need to be negotiated? It seems like people are being quoted less for the EX. Thanks in advance!
  • MichaellMichaell ColoradoPosts: 8,087

    @jsalimao said: Hi, I am looking at leasing a 2014 Odyssey but the price I was quoted seems off. I thought I was prepared by checking what the tmv was but the numbers didn't add up. I was quoted 26,000 plus ~900 for inception for the LX which seemed like a good deal based on the tmv of 27,700. The invoice was 29,000. However the payment was 372 per month (36 month/12k). I believe this is after tax (7%). Do they usually sell the car for less when doing a lease? Do the numbers add up here? I didn't think I needed to know to MF or residual. I thought these were fixed. Do these need to be negotiated? It seems like people are being quoted less for the EX. Thanks in advance!

    residual is set by the bank and cannot be changed by the dealer. the base MF, on the other hand, can (and often is) marked up by the dealer for extra profit.

    It's also important to note that the dealer may use a company other than Honda Finance for leases - we don't have any of their numbers to validate.

    Leases should be negotiated like a purchase - secure the best price using the tools at the top of the page, subtract out the lease cash, and that becomes your net cap cost.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • chuckjrchuckjr Posts: 61

    @Michaell I had a question regarding your comment "Leases should be negotiated like a purchase - secure the best price using the tools at the top of the page, subtract out the lease cash, and that becomes your net cap cost."

    Is it typical that I should be able to get a great sales price and then deduct dealer cash from the great sales price? Recently both Acura (on the TL) and Honda (odyssey EXL) balked at that idea.

    It used to be I could rely on fleet/internet sales to be straightforward but with this round of negotiations I'm finding them just as shifty as traditional salesman

  • MichaellMichaell ColoradoPosts: 8,087

    @chuckjr said: Michaell I had a question regarding your comment "Leases should be negotiated like a purchase - secure the best price using the tools at the top of the page, subtract out the lease cash, and that becomes your net cap cost."

    Is it typical that I should be able to get a great sales price and then deduct dealer cash from the great sales price? Recently both Acura (on the TL) and Honda (odyssey EXL) balked at that idea.

    It used to be I could rely on fleet/internet sales to be straightforward but with this round of negotiations I'm finding them just as shifty as traditional salesman

    you should be able to. there really aren't any differences between a purchase and a lease in terms of selling price. you might try working with multiple dealers to which one is willing to give you the best deal

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • aytayt Posts: 8

    Hi.. I got a lease on Friday for Odyssey EX-L RES from Los Angeles dealer. Below is the information. Can you please let me know if the deal is fair or how close it is? Thank you

    MSRP: $38,055, Selling Price: $32,858.61 + $595 Doc fee, 36 month lease with 15K miles, $1,000 down (includes 1st payment) with a $441 payment (includes 9% sales tax).

  • MichaellMichaell ColoradoPosts: 8,087

    @ayt said: Hi.. I got a lease on Friday for Odyssey EX-L RES from Los Angeles dealer. Below is the information. Can you please let me know if the deal is fair or how close it is? Thank you

    MSRP: $38,055, Selling Price: $32,858.61 + $595 Doc fee, 36 month lease with 15K miles, $1,000 down (includes 1st payment) with a $441 payment (includes 9% sales tax).

    Using your MSRP and selling price with the 36/15 residual of 52% and base MF of .00055, I get a pre-tax payment of $408.87 ... with 9% tax I am at $445.66. Your payment of $441 seems right in the ballpark.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • aytayt Posts: 8

    Thank you Michaell for your input. I feel much better now since it was a good deal.

  • kkfatherkkfather Posts: 1

    Last week I leased an EXL no nav or res. Purchase Price 31000. 36months 15k. 1300 due at signing and 35 payments of $359 (includes 7% sales tax). This site helped a lot. Thank you for everyone's input. NJ resident

  • mochlamochla Posts: 5

    Hello, Just got this offer. Let me know if you think it is a good deal. I'm in Illinois. Lease 2014 Honda Odyssey EXL MSRP 36,455.00 Sale price lease quote $30,061.56 residual -20,414.80 36 month term 12,000 miles per year Zero due at lease signing /Zero money down included -first payment, tax , title , license and Doc fee Special Monthly Lease Payment *399.00 (with 35 payments left) with approved credit

  • MichaellMichaell ColoradoPosts: 8,087

    @mochla said: Hello, Just got this offer. Let me know if you think it is a good deal. I'm in Illinois. Lease 2014 Honda Odyssey EXL MSRP 36,455.00 Sale price lease quote $30,061.56 residual -20,414.80 36 month term 12,000 miles per year Zero due at lease signing /Zero money down included -first payment, tax , title , license and Doc fee Special Monthly Lease Payment *399.00 (with 35 payments left) with approved credit

    seems a good deal given that IL taxes the entire purchase price, not just the payments. Note that the law has changed but won't be effective until 1/1/15

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • jsotelojsotelo Posts: 2

    Hello everyone, so I'm really sorry for the noob question but here it goes.

    Wife and I were looking at buying an Odyssey but we think a lease might work better for us this time around but we're new to leases. I've been reading but I'm confused.

    So the standard lease that's currently offered on the EX-L is that a good deal? From what little I know it seems good because it it shows a Net Cap of 30176.79 which is the "purchase price" correct? the best purchase prices I seem to get on an EX-L are in the 32K range or am I totally confused?

  • kyfdxkyfdx Posts: 31,103
    edited July 2

    @jsotelo said: Hello everyone, so I'm really sorry for the noob question but here it goes.

    Wife and I were looking at buying an Odyssey but we think a lease might work better for us this time around but we're new to leases. I've been reading but I'm confused.

    So the standard lease that's currently offered on the EX-L is that a good deal? From what little I know it seems good because it it shows a Net Cap of 30176.79 which is the "purchase price" correct? the best purchase prices I seem to get on an EX-L are in the 32K range or am I totally confused?

    You'd have to link the ad with the lease offer for us to give an educated opinion.. But, NET CAP COST is usually after any downpayment or customer cash, so it's likely the purchase price plus additions (acquisition fee?) minus customer downpayment.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jsotelojsotelo Posts: 2

    @kyfdx said: You'd have to link the ad with the lease offer for us to give an educated opinion.. But, NET CAP COST is usually after any downpayment or customer cash, so it's likely the purchase price plus additions (acquisition fee?) minus customer downpayment.

    Thank you for the reply, this is the Ad

    2014 Odyssey 6 Speed Automatic EX w/ Leather Featured Special Lease Offer valid from 5/13/2014 through 7/7/2014 $299.00 per month for 36 months. $3,499.00 total due at signing. Includes down payments with no security deposit. Excludes taxes, titles and dealer fees. For well qualified lessees. Closed end lease for 2014 Odyssey 6 Speed Automatic EX w/ Leather (RL5H6EJW) available from May 13, 2014 through July 7, 2014, to well-qualified lessees approved by Honda Financial Services. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $36,455.00 (includes destination, excludes tax, license, title, registration, documentation fees, options, insurance and the like). Actual net capitalized cost $30,176.79. Net capitalized cost includes $595 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Total monthly payments $10,764.00. Option to purchase at lease end $20,414.80. Must take new retail delivery on vehicle from dealer stock by July 7, 2014. Lessee responsible for maintenance, excessive wear/tear and 15¢/mile over 12,000 miles/year for vehicles with MSRP less than $30,000, and 20¢/mile over 12,000 miles/year for vehicles with MSRP of $30,000 or more. See your Honda dealer for complete details.

    After I posed this I called the guy who I bought my Civic Si from and this is what he told me

    $30924.00 for the EX-L 8% taxes equals a monthly payment of $359.00 Residual is 56% or 20414.00 12k miles 36mo lease $3000.00 Down

    What do you think about this?

    He suggested that I go for an 84 month loan at 2.99% interest instead.

    IDK Ford is offering me a crazy deal on a Flex right now and I'm not sure the Odyssey is a good enough deal to bite on right now.

  • kyfdxkyfdx Posts: 31,103

    Selling price on the advertised deal is $32781.79.. minus $3200 cap cost reduction, plus $595 acquisition fee = $30176.79 net cap cost.

    I sort of agree that buying isn't a bad deal... .but, I'd surely try to swing a 60 month term at 1.9%, if you can handle the monthly payment.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • mom2gbbmom2gbb Posts: 1

    question on leasing in Illinois - you stated that IL taxes the entire amount, is that for all leases in Il or if I am an Indiana res and will register in IN do IN rules apply?

  • MichaellMichaell ColoradoPosts: 8,087

    @mom2gbb said: question on leasing in Illinois - you stated that IL taxes the entire amount, is that for all leases in Il or if I am an Indiana res and will register in IN do IN rules apply?

    I'm not certain, but if you are an IN resident, I think that in the end you would only be responsible for IN taxes. I would recommend asking a dealer in IL - I'm sure this is something they deal with all the time.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • vrfruitsvrfruits Posts: 1

    Question for leasing in California, San Jose. Received the quote for touring elite; $520.00/month include CA TAX + 4.5K down include doc, license, title and rest toward cap cost. 36 month lease with 15K mile per year. Sale price $41,472.00, residual: $22,179. Can anyone please tell, is this a good deal?

  • MichaellMichaell ColoradoPosts: 8,087

    @vrfruits said: Question for leasing in California, San Jose. Received the quote for touring elite; $520.00/month include CA TAX + 4.5K down include doc, license, title and rest toward cap cost. 36 month lease with 15K mile per year. Sale price $41,472.00, residual: $22,179. Can anyone please tell, is this a good deal?

    My calculations show a $0 down 36 month lease (49% residual and .00055 MF) pre-tax payment of $570.93. I'm assuming that the cap cost reduction accounts for the lower payment you are being quoted.

    It's not a good idea to put a down payment on a lease; if the car is stolen or totaled, you are out that money.

    That said, if you're comfortable with the deal, it looks good from here.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • coolzcoolz Posts: 2

    Can you please let me know what's the MF and RV for a Odyssey EX-L Nav 15K/12K in Teaxs? Thank you in advance!

  • ssa3ssa3 Posts: 4

    I want to know if $1,500 "lease cash" and $500 "flex-cash" are still available on Odyssey in southern California?

  • mantis802mantis802 Posts: 2

    Could you please give your thoughts…live in Indianapolis, Indiana. Left dealership today with a quote on a 36 month (12k miles/yr) lease for 2014 EX-L RES. MSRP 38,055, sale price 34,958. Quoted lease payment of 478/mo with 0 money down and 1st payment + doc fees due at signing. Any thoughts, does this sound reasonable?

  • MichaellMichaell ColoradoPosts: 8,087

    @coolz said: Can you please let me know what's the MF and RV for a Odyssey EX-L Nav 15K/12K in Teaxs? Thank you in advance!

    .00055 and $1500 lease cash.

    You didn't mention the lease term, so I'll assume 36 months. 54% for 36/12, 52% for 15K.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • MichaellMichaell ColoradoPosts: 8,087

    @ssa3 said: I want to know if $1,500 "lease cash" and $500 "flex-cash" are still available on Odyssey in southern California?

    $1500 lease dash for all trim levels EX-L and higher. Not sure that flex cash exists any more, or if it's applicable to leases.

    MODERATOR
    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4
    Need help navigating? michaell@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

Sign In or Register to comment.