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2013 and earlier-Honda Odyssey Lease Questions

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  • Been researching off and on for a Touring or Touring Elite for the last month. Best I could find was about 11% off MSRP. Discovered True Price from searching on cars.com which is supposed to be a no haggle price. This morning Honda of Serramonte listed their Touring and Touring Elite's for 14% off. Went in asking for the $38,491 price, 0.00064 money factor and 51% residual on a 12k mi/yr, 36mo lease and got it. Amazingly painless. Went for the Elite because the deal I got was what I was hoping to get for a Touring. No surprises or pushy add-on sales in the finance room either.
  • Do you mind sharing your cash due at signing & monthly payment before tax? I'd guess around $530/mo with no money down.
  • $530.36/mo including 8.5% sales tax, $489.94 pre-tax. Just under $1210.21 paid at signing. $0 cap cost reduction, first payment, thus fees of $679.85.
  • My lease is ending in 21 days.

    Park Honda quoted me $359 a month for 12k mile/36 month lease $0 down. That does not include taxes.

    I have a 2010 EX to turn in with 29k miles. My payment is $339 with taxes and that includes one month roll over payment from previous car.

    Can I negotiate at all, since the car has lower miles than anticipated? Park is saying they don't set the prices, Honda does.

    Thanks
  • dylrexdylrex Posts: 57
    That sounds high. You definitely can negotiate. Are you just turning the car in or trading it in? I'd tell them you have another dealership willing to give you some positive equity for it. You don't have to turn it in there.
    I had an '07 Odyssey that I traded in a few months early for a '10 and because the vehicle was in such good condition, I asked for $1k in positive equity that I used to reduce the cap cost on the new one. I could have asked them to cut me a check and pocketed that but decided to use it to reduce my cap cost. Ended up in an EXL-RES for $399 a month, tax included.
    Good luck!
  • cinnamongirlcinnamongirl Posts: 3
    edited March 2013
    I got a quote from another dealer and it's the same dollar. They told me they are giving me a $1,500 discount. Which I find interesting, since my first quote had no such discount and was the same money! :mad:

    I Am thinking no one wants my van. It has some dings, but Honda has said no excessive wear and it's 7k miles less than what it should be. Someone is going to make money on this car and it's not me.

    Everyone seems to be getting a deal on this forum. Maybe there are no deals to be had in Ohio.

    My next step is to see if HFS will let me extend my lease.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi bmar1. Through March 4th, Honda Finance's buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with navigation and 12,000 miles per year are .00064 and 53% for consumers who qualify for its top credit tier.

    When negotiating your deal on this van, make sure to take advantage of the $1,500 dealer cash that is currently available on it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    edited March 2013
    You're very welcome dacarmon. The money factors for the EX and EX-L are the same, but the residual values for the EX-L are 3% lower.

    This drop in residual values is partially offset by an increase in the dealer cash that is available on this van from $1,000 on the EX to $1,500 on the EX-L.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi cinnamongirl. A $1,500 discount on the Odyssey is terrible if the dealer is not subtracting the dealer cash that is available on this model from that.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi, Car_man -

    Your insight is the best. Could you update us on "post March 4th" incentives available and lease rates on a 2013 Odyssey EX-L w/RES? Specifically, is there still $1,500 dealer cash? What is the residual and money factor on a 36 month/10,000 mile/yr lease? Thanks so much for leveling the playing field.
  • On Honda's website they offer a lease for $259 per month with $2999 down or $330 per month with $0 down. For well qualified, not including tax, title and dealer fees.
    I have read some postings where dealers wanted as much as, over $600 per month for a lease.
    In the real world, what might I expect to pay for a bare bones 2013 Ody LX, out the door with all fees etc. included?
    I know that it would vary from dealer to dealer but I'm looking for a realistic average number.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Thanks joeconsumer1 :). I heard that Honda is providing $1,000 dealer cash on the 2013 Odyssey in March.

    Honda Finance's March buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with RES and 10,000 miles per year are .00048 and 53% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jlumsjlums Posts: 2
    Hi Car_Man,

    I'm looking at a 2013 Odyssey w/ RES lease for 36 month and 12k miles/year.

    What should I expect to pay with a 700 credit score?

    Thanks!!!!
  • lac1594281lac1594281 Posts: 1
    edited March 2013
    I am looking at leases on a '13 odyssey exl and have never leased before. Is this a good deal?

    $324/mo for 36 mos 12,000 miles per year with $1000 down and $1944 due at signing (which includes the $1000 down) Residual value $18696 and money factor .000048. There is no sales tax.

    I am also confused...I asked about buying more miles and they said it is $0.10 per mile or I can go up to a 15,000 mile per year lease for $344 per month. It seems cheaper to buy the miles than go with the 15,000 mile per year lease. What am I missing here?
  • jlumsjlums Posts: 2
    I picked up a 2013 Honda Odyssey w/ Rear Entertainment for 36 month lease with 12k miles per year. Monthly payment of $399 with no money down. I hope this helps you out.

    Also, I recommend using carwoo.com it gets all the local dealers to compete for your business.
  • tballertballer Posts: 19
    I am looking to lease a Honda Odyssey EXL with nav. What elements of the deal can I negotiate? Is the residual or money factor negotiable? Or am I limited to price?

    I'm in Cleveland Ohio.

    Anyone have a rough approx. on monthly payments?

    Thanks in advance.
  • kidlkcfkidlkcf Posts: 22
    I've been getting quotes from several dealers in and around my city within 100 miles of me. I just got was seems to be an unbelievable deal compared to many others I've received. Here it is:

    For EXL (no NAV or Entertainment), 12,000/yr, 36 mos. $1534.06 total down, $331.02/mo. He's says it's based on the following:

    MSRP: $36,055
    Selling price: $31,006

    My calculations on this lease with the .00048 money factor and 53% residual come out with a much higher monthly payment. $370. What am I missing? I don't want to call him on it b/c it seems like such a great deal. He has spelled out everything except for the money factor and residual value he used.

    The up front fees are a little high and include a $499 doc fee and $35 reduction tax (doesn't that mean I'm paying some cap cost reduction here?)

    Please tell me what you think of this deal, and if I'm missing something.
  • d_nyholmd_nyholm Posts: 73
    I got a similar deal and it was because it was not through Honda financial. My leasing company had the residual at 60% as opposed to Hondas 51 or so. My payment ended up to 361 for an exl with RES so I think your deal is right in line with mine, but I put 0 down. Sounds like you do have some cap cost reduction in there. I would ask him to calculate it with zero down and see where you end up, I am thinking about 350.
  • kidlkcfkidlkcf Posts: 22
    d_nyholm: Thank you so much for posting this. So, I've leased with Honda Financial for the last 9 years. They are great about wear and tear allowance and such. I'm not so sure going through a different leasing company is a good idea. This worries me. Do you have experience with this? Anyone else know about this?
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