2015 Honda Odyssey Lease Questions

coj142

Anyone getting any numbers in on the 2015 deals?
Looking to do something this week and it'd be great to get something to compare against.

Also- dealership is telling me money factor is dependent on credit and Honda has a new 14 tier credit rating system so they can't guarantee my payments until they run credit. Anyone confirm or is this another sales tactic?

Thx.

mannydom

In connection with coj142 question above, what is the September 2014 money factor and residual % for 2015 EX-L?
I'm looking at a 3 year 12K per year lease.
Any incentive amount for the lessee?
Thanks

kyfdx

mannydom said:

In connection with coj142 question above, what is the September 2014 money factor and residual % for 2015 EX-L?
I'm looking at a 3 year 12K per year lease.
Any incentive amount for the lessee?
Thanks

.00136 MF and 58% residual. $500 lease cash.

ntripp

I have a dealership that has actually shown their numbers. I have an offer for a 2015 EXL....the cost is $31900 with a $595Acquisition fee. Doc fees of $75...cap fees of $72...and a residual of 56%.... With a monthly payment at $399. Does this sound right and where is the lease cash? Should that be listed somewhere? And is this a good deal? Thx       

kyfdx

ntripp said:

I have a dealership that has actually shown their numbers. I have an offer for a 2015 EXL....the cost is $31900 with a $595Acquisition fee. Doc fees of $75...cap fees of $72...and a residual of 56%.... With a monthly payment at $399. Does this sound right and where is the lease cash? Should that be listed somewhere? And is this a good deal? Thx       

Lease cash is a dealer incentive.. Knowing about it, you try to negotiate a lower selling price. It won't be on any paperwork.

mannydom

kyfdx said:

ntripp said:

I have a dealership that has actually shown their numbers. I have an offer for a 2015 EXL....the cost is $31900 with a $595Acquisition fee. Doc fees of $75...cap fees of $72...and a residual of 56%.... With a monthly payment at $399. Does this sound right and where is the lease cash? Should that be listed somewhere? And is this a good deal? Thx       

Lease cash is a dealer incentive.. Knowing about it, you try to negotiate a lower selling price. It won't be on any paperwork.

I appreciate all the info shared here. @kyfdx, is the quote ntripp got of 31900 and monthly payment of 399 realistic?

I got a quote of 493 per month for 2015 EX-L with roof rails and cross bars
3 years 12K miles per year
no down payment
zip code 60056
I asked the dealer for a fair quote given my trim and accessory options and did not negotiate down from MSRP. He quoted me 493 per month. What do you think?

What will be the October 2014 MF, residual, and cash incentive for EX-L?

Thanks so much for your reply.

Michaell

mannydom said:

kyfdx said:

ntripp said:

I have a dealership that has actually shown their numbers. I have an offer for a 2015 EXL....the cost is $31900 with a $595Acquisition fee. Doc fees of $75...cap fees of $72...and a residual of 56%.... With a monthly payment at $399. Does this sound right and where is the lease cash? Should that be listed somewhere? And is this a good deal? Thx       

Lease cash is a dealer incentive.. Knowing about it, you try to negotiate a lower selling price. It won't be on any paperwork.

I appreciate all the info shared here. @kyfdx, is the quote ntripp got of 31900 and monthly payment of 399 realistic?

I got a quote of 493 per month for 2015 EX-L with roof rails and cross bars
3 years 12K miles per year
no down payment
zip code 60056
I asked the dealer for a fair quote given my trim and accessory options and did not negotiate down from MSRP. He quoted me 493 per month. What do you think?

What will be the October 2014 MF, residual, and cash incentive for EX-L?

Thanks so much for your reply.

Even for a new model year, you should be able to get something off MSRP.

Be aware that in IL, lease tax is calculated on the entire selling price, so your payment will be much higher than someone living in a different state.

October numbers will be available .... in October.

kyfdx

mannydom said:

kyfdx said:

ntripp said:

I have a dealership that has actually shown their numbers. I have an offer for a 2015 EXL....the cost is $31900 with a $595Acquisition fee. Doc fees of $75...cap fees of $72...and a residual of 56%.... With a monthly payment at $399. Does this sound right and where is the lease cash? Should that be listed somewhere? And is this a good deal? Thx       

Lease cash is a dealer incentive.. Knowing about it, you try to negotiate a lower selling price. It won't be on any paperwork.

I appreciate all the info shared here. @kyfdx, is the quote ntripp got of 31900 and monthly payment of 399 realistic?

I got a quote of 493 per month for 2015 EX-L with roof rails and cross bars
3 years 12K miles per year
no down payment
zip code 60056
I asked the dealer for a fair quote given my trim and accessory options and did not negotiate down from MSRP. He quoted me 493 per month. What do you think?

What will be the October 2014 MF, residual, and cash incentive for EX-L?

Thanks so much for your reply.

The current Honda numbers are good through 11/03/14.

GHTech

Hi!

Would someone be able to tell me what the MF, the RV for a 2015 Touring Elite would be?

Thanks,

Emil

kyfdx

GHTech said:

Hi!

Would someone be able to tell me what the MF, the RV for a 2015 Touring Elite would be?

Thanks,

Emil

.00136 MF and 51% residual for 36mo, 15K/yr. $500 lease cash.

GHTech

Hi!

Would the residual be 53% for a12K/yr lease?

Thanks,

Emil

Michaell

GHTech said:

Hi!

Would the residual be 53% for a12K/yr lease?

Thanks,

Emil

Yes, 12K lease residuals are 2% better than 15K.

n8dgr8

Was just quoted these numbers in Georgia on a 2015 Odyssey EX-L with Rear Entertainment System lease, 3 years, 15,000 miles:

Sale Price - $35,245
Tax - $2,523
Money Factor - .00136
Residual - 54%
Acquisition Fee - $595
Doc Fee - $599
Title/Lemon - $41
Electronic Tag Registration - $49.95
Protection Package (splash guard/nitrogen tires, cargo trey in trunk, all season mats) - $895

Total, with first month payment due at signing, comes out to $619/month (which includes making final two payments ($570/month) on current Odyssey lease).

Thoughts? The sale price is already below the Edmunds TMV for the car (listed at $35,421). Anything else can negotiate? GA tax not helpful, but is what it is.

Thanks!

Michaell

n8dgr8 said:

Was just quoted these numbers in Georgia on a 2015 Odyssey EX-L with Rear Entertainment System lease, 3 years, 15,000 miles:

Sale Price - $35,245
Tax - $2,523
Money Factor - .00136
Residual - 54%
Acquisition Fee - $595
Doc Fee - $599
Title/Lemon - $41
Electronic Tag Registration - $49.95
Protection Package (splash guard/nitrogen tires, cargo trey in trunk, all season mats) - $895

Total, with first month payment due at signing, comes out to $619/month (which includes making final two payments ($570/month) on current Odyssey lease).

Thoughts? The sale price is already below the Edmunds TMV for the car (listed at $35,421). Anything else can negotiate? GA tax not helpful, but is what it is.

Thanks!

Base MF is being used, so I would say that your deal looks pretty good given that you've negotiated the selling price to below TMV.

Georgia taxes do kill you on a lease.

snapm

Hello, do you see the 2015 Odyssey MF coming down to 0.00049 like the 14's . The 2015 numbers seem high and wondering if there is a timeframe when the MF typically go down after a model year is launched . I am ready to wait a few months if the MF's typically go down. Unfortunately I cannot find many 2014 EX-L's

Michaell

snapm said:

Hello, do you see the 2015 Odyssey MF coming down to 0.00049 like the 14's . The 2015 numbers seem high and wondering if there is a timeframe when the MF typically go down after a model year is launched . I am ready to wait a few months if the MF's typically go down. Unfortunately I cannot find many 2014 EX-L's

My guess is that when the 2014's are all gone Honda will sweeten the pot on the 2015's. Perhaps in the next month or two.

But, each manufacturer adjusts the numbers on their own schedule.

skilletz

Quoted the following for a EX-L with Navigation (Walnut Creek, CA), cap cost includes $500 lease cash. MF 0.00136 We have a 2012 CRV EX-L lease that is up next May, so we are looking to move into an Odyssey. According to this calc we are getting $0 equity credit for the CR-V. Why would I bother turning it in early? They contacted us saying there might be an incentive to trade in early. I'm not seeing it. The person I am communicating with doesn't believe seeing the physical car will change the appraised value or change anything. So first question is...is the lease a good lease barring any CRV equity? And should I be getting an incentive for turning the CRV lease in 6 mos. early?

•Cap Cost - $35,704.92
•Cap Cost Reduction - $903.66 (minimal drive off)
•Residual - $21,618.80
•12,000 miles / 36 months
•Current Payoff of CRV - $20,710.03
•Appraised Value pending physically seeing the vehicle - $20,710.03
•Monthly Payment - $488.91 + tax = $532.91

Michaell

skilletz said:

Quoted the following for a EX-L with Navigation (Walnut Creek, CA), cap cost includes $500 lease cash. MF 0.00136 We have a 2012 CRV EX-L lease that is up next May, so we are looking to move into an Odyssey. According to this calc we are getting $0 equity credit for the CR-V. Why would I bother turning it in early? They contacted us saying there might be an incentive to trade in early. I'm not seeing it. The person I am communicating with doesn't believe seeing the physical car will change the appraised value or change anything. So first question is...is the lease a good lease barring any CRV equity? And should I be getting an incentive for turning the CRV lease in 6 mos. early?

•Cap Cost - $35,704.92
•Cap Cost Reduction - $903.66 (minimal drive off)
•Residual - $21,618.80
•12,000 miles / 36 months
•Current Payoff of CRV - $20,710.03
•Appraised Value pending physically seeing the vehicle - $20,710.03
•Monthly Payment - $488.91 + tax = $532.91

What is the MSRP of the Odyssey?

Trading in a leased vehicle isn't really any different than trading in a car you have a loan against - it has a trade value and a payoff. Find out the payoff from Honda Finance and use the "Real World Trade in Values" discussion here to get an honest appraisal of the CR-V.

Information is power - the more you have, the better the deal you'll be able to make.

One other thing to consider - the .00136 MF for the '15 Odyssey is pretty high for Honda standards. I suspect that Honda Finance is doing this to make the '14's more attractive. When the '14's are all gone, I wouldn't be surprised to see a reduction in the MF on the '15's over the next few months. Might be better to wait until your current lease is closer to expiration.

skilletz

MSRP is $38,605. Thanks for the trade in tip, I'll look that up. I'm feeling there is no advantage to trading in early here as we don't need the vehicle just yet. I'll probably pick negotiations back up closer to the end of the month again so I have additional leverage against someone's bonus.

Michaell

skilletz said:

MSRP is $38,605. Thanks for the trade in tip, I'll look that up. I'm feeling there is no advantage to trading in early here as we don't need the vehicle just yet. I'll probably pick negotiations back up closer to the end of the month again so I have additional leverage against someone's bonus.

The current Honda promotions end Monday, 11/3, so you still have the weekend to use that leverage, if you so choose.

vr5ut

Wondering what the new mf, lease rates, incentives are today for 2015 Odyssey EX-L? Also, just brushing up on my first time car-buying, is the residual 56% of MSRP or purchase price? And is it 56% for a leased 2015, 12k miles, 36 month lease? I think that's my understanding...54% for 15k, 56% for 12 k. Thanks for helping me out! I've learned a lot by following this forum for the past few weeks.

jms427

Residual is a percentage of msrp, not purchase price. The November lease numbers should be coming out today. The mods on this forum are extremely helpful and can provide you with the correct money factor and residuals.

kyfdx

vr5ut said:

Wondering what the new mf, lease rates, incentives are today for 2015 Odyssey EX-L? Also, just brushing up on my first time car-buying, is the residual 56% of MSRP or purchase price? And is it 56% for a leased 2015, 12k miles, 36 month lease? I think that's my understanding...54% for 15k, 56% for 12 k. Thanks for helping me out! I've learned a lot by following this forum for the past few weeks.

.00066 MF and 57% residual. Subtract 2% for 15K/yr

vr5ut

Any bonus cash offered for 2015 Odyssey EX-L?

kyfdx

vr5ut said:

Any bonus cash offered for 2015 Odyssey EX-L?

Nope

kert491

I am seeing the following deal for a 2015 Honda Odyssey EX in upstate NY. It seems pretty reasonable although I might do better. I am also interested in an EX-L, but don't see any advertised price. Any thoughts on this. Can I do better and is the EX-L price close to this.

$279
per month for 36 months*
$3,195 cash or trade down
*MSRP: $32,275.

Michaell

kert491 said:

I am seeing the following deal for a 2015 Honda Odyssey EX in upstate NY. It seems pretty reasonable although I might do better. I am also interested in an EX-L, but don't see any advertised price. Any thoughts on this. Can I do better and is the EX-L price close to this.

$279
per month for 36 months*
$3,195 cash or trade down
*MSRP: $32,275.

Most national or regional deals are just "ok". We don't recommend putting money down on a lease - if the car is stolen or totaled, you are out that money.

If you negotiate wisely, you should be able to meet or beat the advertised deal.

.00066 is the current MF, and the 36/15 residual for the EX-L is 55%.

I suggest you head over to the "Odyssey Prices Paid" discussion for examples of what others are paying, then use that information to negotiate a solid sales price.

pitchinwedge

Hi Michaell, I just spoke with two Honda dealerships in So Cal. They told me there is no set lease figures for the Odyssey EX-L or Touring models. For 36/12k I was given .00066 MF with 55% for the EXL and 52% for Touring. Is this accurate?

Michaell

pitchinwedge said:

Hi Michaell, I just spoke with two Honda dealerships in So Cal. They told me there is no set lease figures for the Odyssey EX-L or Touring models. For 36/12k I was given .00066 MF with 55% for the EXL and 52% for Touring. Is this accurate?

2015 EX-L RV is 57%; Touring is 52% - both for 36/12.

Confirm the .00066 MF for all 205 Odysseys.

madiga

Hi Everyone,

I'd really like to know how you'd calculate the MF and residual value to calculate lease monthly payment? I'm going to a leadership in Huntington, NY tomorrow to negotiate a lease for Odyssey EX 36mo/15K with 0 down and all other expenses as part of cap.

What is a reasonable monthly payment for the 36/15? For my curiosity, how do I factor in the MF and RV to come up with a monthly payment?

Thanks!

Michaell

madiga said:

Hi Everyone,

I'd really like to know how you'd calculate the MF and residual value to calculate lease monthly payment? I'm going to a leadership in Huntington, NY tomorrow to negotiate a lease for Odyssey EX 36mo/15K with 0 down and all other expenses as part of cap.

What is a reasonable monthly payment for the 36/15? For my curiosity, how do I factor in the MF and RV to come up with a monthly payment?

Thanks!

There are plenty of lease calculators available via the internet.

There are two variables in a lease - the selling price and the money factor (rent charge, or interest rate).

To model a payment, we would need to know both the MSRP (sticker price) and the negotiated selling price.

For the EX model, the 36/15 residual is 55% and the base MF is .00066.

olyylo

Would appreciate feedback about going forward with these terms from a Seattle-area dealer:

2015 EX-L Navi
15K/36mos

38,605 MSRP
36,000 sales price

36,845 cap cost
03,519 cc reduction
20,461 residual
21,834 payoff current 2012 EX-L Navi
26,250 trade-in 2012 Ody EX-L w/34K (firm after physical appraisal)
00,470 tax, lic, doc

$392.87
$035.36 tax
$428.23 total

They calculate that with trade-in and payoff, we'll net $4600 and that will *magically* cover the out-the-door costs (3519 cc reduction + 428 1st + 470 tax, lic, doc).

New at this, so if more info is needed to evaluate this deal, please let me know. Thanks!

Also, should we wait and see if there's another cash incentive from Honda ($500 expired 11/3 from reading forum)? What is the history of Honda incentives in December? Thx.

olyylo

olyylo said:

Would appreciate feedback about going forward with these terms from a Seattle-area dealer:

2015 EX-L Navi
15K/36mos

38,605 MSRP
36,000 sales price

36,845 cap cost
03,519 cc reduction
20,461 residual
21,834 payoff current 2012 EX-L Navi
26,250 trade-in 2012 Ody EX-L w/34K (firm after physical appraisal)
00,470 tax, lic, doc

$392.87
$035.36 tax
$428.23 total

They calculate that with trade-in and payoff, we'll net $4600 and that will *magically* cover the out-the-door costs (3519 cc reduction + 428 1st + 470 tax, lic, doc).

New at this, so if more info is needed to evaluate this deal, please let me know. Thanks!

Also, should we wait and see if there's another cash incentive from Honda ($500 expired 11/3 from reading forum)? What is the history of Honda incentives in December? Thx.

Dealer just emailed with a new sals price to match another dealer, who is farther away and therefore not desirable

35,735

every little bit helps!

kyfdx

olyylo said:

Would appreciate feedback about going forward with these terms from a Seattle-area dealer:

2015 EX-L Navi
15K/36mos

38,605 MSRP
36,000 sales price

36,845 cap cost
03,519 cc reduction
20,461 residual
21,834 payoff current 2012 EX-L Navi
26,250 trade-in 2012 Ody EX-L w/34K (firm after physical appraisal)
00,470 tax, lic, doc

$392.87
$035.36 tax
$428.23 total

They calculate that with trade-in and payoff, we'll net $4600 and that will *magically* cover the out-the-door costs (3519 cc reduction + 428 1st + 470 tax, lic, doc).

New at this, so if more info is needed to evaluate this deal, please let me know. Thanks!

Also, should we wait and see if there's another cash incentive from Honda ($500 expired 11/3 from reading forum)? What is the history of Honda incentives in December? Thx.

.00066 MF and 53% residual.

Yes, the $500 cash went away, but the money factor dropped from .00136. The lease program is much better this month, even with losing the $500.

I calculate about $6/mo. less than they do, but close enough.. Your new price will lower the payment about $9/mo. more..

There is no need to roll all of your equity into the lease. You can do the deal without the CAP cost reduction, and ask them to cut you a check for that amount. Of course, your payment will be correspondingly higher... about $100/mo. more..

So, if you keep your equity, the real cost for the new lease is about $525/mo.

olyylo

Thank you.

We are going to put $2K down, despite all the warnings not to put any cash into a lease. We're the kind of people who make payments two months ahead: It's a sickness .

Does anyone know if the 35,735 sales price, which includes a cargo tray ~$80 retail aftermarket, is fair/good?

I've looked at the 2015 sales price forum and there are few comps for EX-L Navi in the PNW. Thanks.

olyylo

don't mean to dominate this forum but:
"Also, should we wait and see if there's another cash incentive from Honda ($500 expired 11/3 from reading forum)? What is the history of Honda incentives in December? Thx."

$500 is one payment, so it's worth paying attention to timing, no?

Michaell

olyylo said:

don't mean to dominate this forum but:
"Also, should we wait and see if there's another cash incentive from Honda ($500 expired 11/3 from reading forum)? What is the history of Honda incentives in December? Thx."

$500 is one payment, so it's worth paying attention to timing, no?

Can't predict what the numbers will look like, or even if they will change.

madiga

I was wondering if someone can help with this deal:

I have an existing lease on Honda Odyssey EX 2011 with 45K/36. However, my lease is due in April/2015 but I'm already at 50K miles.

I went to a dealership in Long Island, NY and told them I wanted to lease a 2015 EX for 45K/36 but wanted to see if they can waive the extra mileage I've gone over with existing and make the remaining payments.

They agreed to the following:

Make 3 payments ($385/mo)
Waive 3K of the 5K mileage.

With $0 down and 45K/36, I would pay one payment for old lease, pay for 2K extra mileage and first payment of new lease.

I would pay $1200 up front with $430/mo for new lease.

Can someone tell me if this is a reasonable deal or should I wait until next year to return the lease and negotiate that they pay some of the excess mileage?

Sorry for the long post and thanks!!

kyfdx

madiga said:

I was wondering if someone can help with this deal:

I have an existing lease on Honda Odyssey EX 2011 with 45K/36. However, my lease is due in April/2015 but I'm already at 50K miles.

I went to a dealership in Long Island, NY and told them I wanted to lease a 2015 EX for 45K/36 but wanted to see if they can waive the extra mileage I've gone over with existing and make the remaining payments.

They agreed to the following:

Make 3 payments ($385/mo)
Waive 3K of the 5K mileage.

With $0 down and 45K/36, I would pay one payment for old lease, pay for 2K extra mileage and first payment of new lease.

I would pay $1200 up front with $430/mo for new lease.

Can someone tell me if this is a reasonable deal or should I wait until next year to return the lease and negotiate that they pay some of the excess mileage?

Sorry for the long post and thanks!!

If you are driving 20K/yr, it won't help to get into another 15K/yr lease... you'll be right back where you are now.... Paying a big chunk out of pocket. Amortize that over your last 30 payments and you'll find that leasing has been very expensive for you...

I'd buy a vehicle...

kert491

I am considering leasing a Honda Odyssey EX-L at the end of the this year or at the beginning of next year. I've got some decent offers from dealers for a base price, but it doesn't appear the incentives are that great now. My understanding is the incentives change on 1/5/15. Do you think its better to wait until new incentives come out and hope for some lease cash or try to get the best deal at the end of the year/quarter. I'm not in any big rush, so I can wait a little if it is prudent. Thanks,

Michaell

kert491 said:

I am considering leasing a Honda Odyssey EX-L at the end of the this year or at the beginning of next year. I've got some decent offers from dealers for a base price, but it doesn't appear the incentives are that great now. My understanding is the incentives change on 1/5/15. Do you think its better to wait until new incentives come out and hope for some lease cash or try to get the best deal at the end of the year/quarter. I'm not in any big rush, so I can wait a little if it is prudent. Thanks,

It's hard to predict what will happen with the numbers from month to month. I suppose it depends on how Honda responds to sales.

cestus

Hi all,

I would appreciate if you could clarify the lease terms for December. I am looking at a EX-L (with rear entertainment, if that matters).

Are the terms the same as for November? 0.00066 money factor and 57% residual for 36mo/12k (55% for 36 mo/15k)?

Any dealer/lease incentives?

Thanks in advance.

cestus

Forgot to mention that I am talking about a 2015 Odyssey EX-L

Michaell

cestus said:

Hi all,

I would appreciate if you could clarify the lease terms for December. I am looking at a EX-L (with rear entertainment, if that matters).

Are the terms the same as for November? 0.00066 money factor and 57% residual for 36mo/12k (55% for 36 mo/15k)?

Any dealer/lease incentives?

Thanks in advance.

cestus said:

Forgot to mention that I am talking about a 2015 Odyssey EX-L

No changes for December ... Honda numbers are good through the end of the year.

tika404

Has the money factor change from 0.00066 to 0.002992 on EX-L/DVD? 

Michaell

tika404 said:

Has the money factor change from 0.00066 to 0.002992 on EX-L/DVD? 

No, the base MF for all Odysseys remains .00066.

tika404

Ok, thx 

tika404

I'm still new to the the lease process is .00066 good? I'm trying to figure out if I should wait until the 1st of the year

Michaell

tika404 said:

I'm still new to the the lease process is .00066 good? I'm trying to figure out if I should wait until the 1st of the year

It's hard to predict what Honda will do with the numbers after January 1st. .00066 equates to 1.58% interest rate.

tika404

EX-L /w DVD

Sale price $33,674
After markets $463
Cash down $3000
Upfront charges $630
Cap reduction $1938.40
36mth @ .00066 12k miles
Residual amount $21,000
Monthly payment 449.00 including maintenance

Is this a good offer?

Michaell

tika404 said:

EX-L /w DVD

Sale price $33,674
After markets $463
Cash down $3000
Upfront charges $630
Cap reduction $1938.40
36mth @ .00066 12k miles
Residual amount $21,000
Monthly payment 449.00 including maintenance

Is this a good offer?

What is the MSRP? How much are they charging for the pre-paid maintenance?

We don't recommend making a cap reduction on a lease; if the car is stolen or totaled, you lose that money.