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2013 and earlier-Honda Odyssey Lease Questions

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Comments

  • aahhaahh Posts: 3
    Test drive both and see what suits you well, compare your insurance rate. Everyone has their own preferences. I preferred Odyssey over Sienna for better engine, comfort ride, better gas mileage for the long term. It holds better resale value as well if you decide to upgrade it later.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks for being such a loyal visiter, peko. It's difficult to say what month will be the best to lease an Odyssey. Last year Honda significantly improved its lease program on the Odyssey in July, but its current lease program is already better than that one so it's tough to say whether that would happen again.

    If you're in an area that has a decent level of competition, you should be able to get a '13 Odyssey for a couple hundred dollars over dealer invoice minus the $1,700 dealer cash that is currently available on the EX-L. If you were able to get a price like that, you should be able to beat the advertised deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi acehawk. Honda Finance's April buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with 12,000 miles per year are .00048 and 53% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a '13 Odyssey Touring are .00048 and 50%.

    There is $1,700 dealer cash on both of those models.

    Car_man
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  • Hello all. Accidentally posted this in the buying forum so here it is in the correct forum. I just recently learned of this forum and don't know much about leasing. I've done the spreadsheet and I think I have a good offer but would appreciate any feedback. The terms are for a new 2013 EX-L w/RES, splash guards and door edge guards. 36 month lease for $349/month after $2,500 downpayment. No other dealer fees but tax, title and registration are on me. Buy-out at the end is $19,109.15. I believe this is a decent deal but want to make sure I'm not overlooking something. Thanks all!
  • aahhaahh Posts: 3
    edited April 2013
    I think you can do it better by shopping around at the dealers in the same area to see who will win your deal. Make sure you negotiate the selling price first, do it as low as you can as if you would to buy it instead of leasing it. Then mention you want to lease it base on that selling price, try to avoid putting any money down upfront. It helps to keep that money down in your pocket because in the event of any accidents or if it gets totaled, that cash you spent is gone. No money down upfront and first payment and tax/dealer fees is best option in my opinion.
  • omahahahaomahahaha Posts: 6
    edited April 2013
    Thanks for the reply and tip, aahh. Wife and I talked some more and decided we did not want to keep leasing or buy after this lease is over, so we requested quotes to purchase. I'll post my buy in the buying forum.
  • Just took delivery of odyssey EX-L with navigation. Leased it for 0 down and $435/month. Don't know if this is a good deal or not. Called at least 5 Honda dealers in Atlanta and the second best was $459.18/month. Wanted to post this if it helps.
  • thanx!

    do you know if there was any flexcash in the deal?
  • wonderboy2012wonderboy2012 Posts: 1
    edited April 2013
    I came across this thread a couple of days ago while searching on Odyssey deals.

    I spoke with a number of dealers in my area, but this is the deal we ended up with today on a 2013 EX-L stock - no nav or any additions apart from the splash guards and nitrogen and wheel locks. I made the dealer remove the other accessories they had added including the moonroof visor and upgraded mats and the rear tray.

    We ended up doing a deal today and came home with a Polished Metallic EX-L.

    36 month lease with the first month paid/15K miles a year with 0 down.

    Factor: 0.00048

    Price of the car $31,412.50

    Out the door total: $31,999.43

    Residual: $18,337.05

    Monthly Payment $415.78 including tax @ 3%

    $1000 flexcash involved to.

    Did l do good? I think l may have been able to get them down further but my local dealer wanted $37K for the same car, and the lease was over $550 a month.

    I hope this helps anyone else out there for comparison purposes, l'm in NC.
  • I think he used $500 in flex cash.
  • mrobie64mrobie64 Posts: 4
    I've been shopping for an EX and received the following quote from a local dealer in the San Fernando Valley:

    36 month lease
    12k mile per year
    0 down
    $327 per month (includes taxes)
    $729 drive off (registration, acquisition, 1st month payment)
    $27,700 sale price (this includes the $1500 manufacturer to dealer cash incentive)
    residual value is $18,286.80

    Having never shopped for a lease before I really don't know how good this deal is. Thoughts?
  • yoyo77yoyo77 Posts: 2
    mrobie64, what dealer did you get this deal at?

    Thanks.
  • mrobie64mrobie64 Posts: 4
    Galpin Honda. I got the car and actually negotiated the selling price down to $26,900. Other dealers wouldn't match it so I'm confident that I got a good price.
  • mrobie64mrobie64 Posts: 4
    With the lower sale price I went for 15k miles per year. My monthly payment is $326 and that includes tax.
  • jmailjmail Posts: 19
    Carman,

    Do you have the May lease figures for the 2013 Odyssey Ex-l (no res, no nav) 36 month 12k miles? Thanks!!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure do jmail. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with 12,000 miles per year are .00048 and 55% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is providing $2,000 dealer cash on the '13 Odyssey EX-L right now. Make sure to take it into account during your negotiations.

    Car_man
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  • mrthnmanmrthnman Posts: 20
    Hey Car_man , do you have the numbers for the 2013 Odyssey Touring ?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Sure mrthnman. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey Touring with 12,000 miles per year are .00048 and 50% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is providing $2,000 dealer cash on the '13 Odyssey EX-L right now. Make sure to take it into account during your negotiations.

    Car_man
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  • jmailjmail Posts: 19
    Carman,

    The edmunds website is showing 2500 in incentives available for a lease. Is that right or am I misreading the incentives information? There appear to be 3 programs but one is not combine-able. The other two are for 2500. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jmail. Interesting. I had heard that there was $2,000 dealer cash on the 2013 Odyssey. It certainly does look like Edmunds states $2,500. Even better.

    Car_man
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This discussion has been closed.