2013 and earlier-Honda Odyssey Lease Questions

r20926

I am interested in leasing a EX-L. Would it be smarter for me to try to get a end of the year deal on a 2011 lease or should I just go for the 2012?

Would I get a worse deal on the 2011 depreciation wise because it is already a year old?

Any help is greatly appreciated...

Thanks....

lease_o_buy

Hi,

Just to compare, after back and forth haggling, I was given $590 for 2012 Touring Elite, 36 m, 12 k, 0 OOP in NJ but not signing yet.

So $1,500 dwn and $500/m for the Touring doesnt sound bad.

Someone from NC got the Elite for $510/m and that is excellent but given the MF, RV, etc, $510 is hard to reach.

I would like to know who else got a similar great lease deal in either NY or NJ.

carsearchnj

Before I mentioned my trade I negotiated
$38,097.00 (Touring) +
$1,395.57 (for the options)
= $39,492.57 + tax, doc fee and DMV fees.

moonroof visor
door edge guards
roof rails
crossbars
all season floor mats
remote start

I feel I got a "good deal" only because the other dealer could not even match the quote. The other deal was $399 a month and this dealer was $325 a month. But this was mainly because of the amount I was offered for my trade. It was a $3200 difference.

blert

which dealership is this? I'm in North NJ. maybe you can give me a referral.

CarMan@Edmunds

Hi Jimmy. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EX with 15,000 miles per year are .00138 and 60%, respectively for consumers who qualify for its "Super Preferred" credit tier.

The numbers for an otherwise identical lease of an EX-L are .00138 and 57%.

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CarMan@Edmunds

Hi matchbox1. For January, the numbers are:

2012 Touring 36mo 12K mi Money factor of .00138 and 56%
2012 Touring Elite 36mo 12k mi money factor of .00138 and 56%

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ejoyce423

Car Man,

Could you please tell me the rates for an EX-L with 12,000 miles per year? Thank you!

CarMan@Edmunds

I sure can ejoyce423. Honda Finance's January buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EX-L with 12,000 miles per year are .00138 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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coupedncal

I was wondering if we could get Feb lease numbers. I do see the lease specials on honda's website for odyssey. I was also wondering if someone could help me apply the LX lease special to EXL to come up with equivalent lease numbers?

Deal # 1:
LX is @ 350 per month for 35 months with 0 down and one free payment.

Deal # 2:
LX is at $299 per month for 36 months with $2k down.

If I punch in the numbers into lease calculators, i get an interest rate lower than 3.312% (0.00138 * 2400) but perhaps I am not doing this math right.

Thanks!

jonathannyc

Hello!

I see some people posting about their lease details but not the details I am looking for

I want to know the Money Factor as well as the Residual on a 2012 Odyssey EX-L with RES can I get details for

1. 36mo & 12k/yr
2. 36mo & 15k/yr
3. 39mo & 12k/yr (if possible)
4. 39mo & 15k/yr (if possible)

Greatly appreciate it! is there anywhere online where this information is readily available? Thanks again!

if anyone has leased one, would you be kind enough to post up your figures? (down/price per month/ due at signing etc)

egoody88

Car Man,

Could you please tell me the rates for a Touring for 36 months - 12k / 15k miles? Thanks!

CarMan@Edmunds

Hi jonathannyc. Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EX-L with RES and 15,000 miles per year are .00138 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Honda's special lease program is only available for up to 36-months, so its 39-month month factor jumps to .00185. The 39-month, 15k residual for this vehicle is 54%.

The residual values for a lease of this truck with only 12,000 miles per year would be 2% higher.

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CarMan@Edmunds

Hi egoody88. Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey Touring with 15,000 miles per year are .00138 and 54%, respectively for consumers who qualify for its top credit tier.

The residual value for a lease with only 12,000 miles per year would be 2% higher.

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egoody88

Thanks Car Man!

Does anyone know if the lease numbers change if leasing a leftover 2011 model?

One of our local dealers has a couple left that we might be interested in. Based on our research on edmunds, truecar, etc. we're pretty sure we can get a good deal on the car. However, I'm wondering if the savings get negated if the money factor and residual value are less attractive.

jonathannyc

Hello Carman!

missed February's rates, can you reply with March numbers?

Residual/money factor for march on a EX-L with RES

- 12k, 3 yr
-15k, 3 yr

thanks car man!

symm2112

Hi all. About to trade up from my 2001 expedition and about to get into an Odyssey EX or EXL. I've been quoted a few things and want your opinions.

2012 EX L
Opt 1: 60 mo/15k miles 31,900 cap cost
3500 down, 424 mo based on 6k residual

Opt 2: 60 mo/15k miles 34500 cap cost
2650 down (ttl and 1st month) 399 mo 14k residual.
Money factor of .00139

I have good credit over 750 but trying to keep initial cost and monthly payments low for now. I kept my expedition for almost 12 years and 190k miles so I know how to treat cars.

My plan was to lease this with intention of buying it out at end.

Are figures normal and does anyone have any suggestion on my plans or negotiations? I would buy but don't want to lock myself into $600 month payments.

Thank you.

CarMan@Edmunds

You're very welcome, egoody88. I don't believe that Honda is providing lease support on 2011 models any longer. As a result, if you really want to lease you will probably be better off going with a 2012 model.

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CarMan@Edmunds

Sure jonathannyc. Honda Finance's March buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EX-L with RES and 15,000 miles per year are .00115 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The residual value for a lease with only 12,000 miles per year is 2% higher.

Honda is now providing $500 dealer cash and waiving the first payment on leases of this van.

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coupedncal

Hi Car-man,

Could you provide lease numbers for EX-L as well? And the number you provided above for EXL-RES seem lower than the lease special numbers that Honda has advertised. Currently, the lease special for both LX and EX are at 60% residual. I am looking for an EX-L and wondering how to get the 60% residual extended to EX-L as well. We just need 12k numbers as we will likely buy out the car at the end of the lease.

coupedncal

Could someone help me get lease rates on an EX-L based on lease special numbers available for LX and EX please? Unless my math is way off, the lease special that honda is publishing still puts the price of the car only about $800 to $1000 less than MSRP and thousands above the invoice. If this is true, what is the best way to negotiate a lease rate on an EX-L?

LX is $299 for 36 months plus tax with 1999 down. MSRP=29035. Residual=17421
EX is 309 for 36 months plus tax with 2399 down. MSRP=32285. Residual=19731

gene00

I went to the auto.bizcalcs lease calculator and reversed engineered the selling price until the payments came out correctly. The deal for the EX works out to a selling price of $30,316 which is $1,969 under msrp and is $989 over invoice.

It goes like this, please check my numbers: $32,285 msrp, $31,316 sales price, $2,399 paid by you at signing, $595 acq fee added in to the total = net cap cost of $28,512, 36 months, 12k miles, mf = .00115, residual (60%) = $19,371 = lease payment of $308.99 not including tax. Where does your math differ from mine? This is my best estimate, I'm not positive it's correct.

To extrapolate a $989 over invoice selling price for a lease on an EX-L, the numbers are $35,685 msrp, $33,388 sales price, $2,399 paid by you, $595 acq fee added, net cap cost $31,584, 36 months, mf = .00115, 12k miles, residual (57%) $20,340 = payment of $372.03 not including tax

mrbcar

Hello Car Man.

Can you please provide Residual Value and Money Factor for March 2012 on a 2012 Honda Odyssey Touring 36 month lease with 12,000 miles per year?

Also, any dealer incentives currently offered on this model?

Thanks.

coupedncal

Could someone please provide me EX-L with Navi lease numbers for March?

thanks!

coupedncal

Ended up leasing an EX-L from Oakland Honda in the bay area. Had a very pleasant buying experience through their internet dept.

MSRP: $35685 including destination
Selling Price: $31500 inclusive of destination
MF: 0.00115
Residual 57%

gene00

That's an amazing deal considering invoice is $32,399. Even subtracting $500 dealer cash, that's still $399 under. Were there any other circumstances in your deal (did you buy a warranty or accessories, was it a dealer loaner or demo, did you have a trade-in, etc)?

coupedncal

Thanks! There was no other tied transaction to this deal. No trade, warranty, accessory etc. The van had 3 miles on the odo when we first drove it. There could be other factory to dealer incentive at play that we public are not aware of but even if there aren't, the dealer still made about $400 considering the holdback on this van is close to $700.

CarMan@Edmunds

Sure coupedncal. The money factor for the Odyssey EX-L without RES is the same, but the residual value is 1% higher...57% for a 36-month, 12k lease.

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CarMan@Edmunds

Greetings mrbcar. Honda Finance's March buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey Touring with 12,000 miles per year are .00115 and 54%, respectively for consumers who qualify for its top credit tier.

Honda is providing $500 dealer cash on this van right now.

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friguy3

So I know you guys talk about Money factors and percentages and Ive kinda tried to learn a little but it gets too confusing for me...ANYWAY...my wife just went to the honda dealership to see about an early trade it (due in oct) and they are giving her an EX-L with DVD/nav. Its nothing down and 549/month for 36mo/12k miles. Good? Can do better? We have had numerous hondas for years so this should be with all the deals...any ideas?

friguy3

Well, in NJ, just leased a 2012 Touring Elite with all the extras (racks, all weather mats...), 0 down, 36mo/12k, giving back my 2010 odyssey EX-L early that's due in October, for $610/month. Think I got an OK deal. What do ya think?

coupedncal

Couple of things. First of all, you need them to give you the selling price and all other details. You also need to provide sales tax in your area, etc so someone here could evaluate the lease for you. Also, do note there is no EX-L with Navi and DVD. It comes with either one or the other. So you are either looking at a touring model or the DVD is possibly after market. Just clarify this one to be sure dealer is not selling you something else.

friguy3

So yes, the EX-L they offered my wife was an after market DVD, I said no thank you. Thats why I went with the touring, and eventually the elite. I dont have the sales tax and all that in front of me sorry, havent signed yet (long story, its in a lot that they have to get it from on monday or tue) oh well. My wife started with close to 700/mo so now 610/mo I assume is good. thanks anyway...

coupedncal

You probably are not looking for any more feedback from us but i will pass this info on just in case. Your best bet is to lock down on the price first and then put the price in one of the lease calculators like this one below and see if your payment matches what these calculators give you. If your numbers don't match, you can be sure they are charging you unreasonably high selling price or not offering you optimum money factor (interest rate) for increased profit.

http://www.leaseguide.com/calc.htm

Just my two cents.

cbeddy

Any insight as to what the numbers might do in April? I know the Honda offer is good through the end of April, so I wondered if the money factor/residuals would stay the same through next month. Would like to take my time to work a deal instead of rushing to get something together in the next few days before the end of March.

I'm new to leasing, so should my target sale price be similar to what others are paying to finance an EX-L?

bonefishpaul

Would anyone happen to know the residual values for a 36 mo. lease on an EX and EX-L with 15K miles? What about the money factor? Looking to do something this weekend if the numbers look good. Thanks

coupedncal

I can tell you what the numbers are for 12k miles. 15k would be slightly lower.

LX and EX are at 60% based on current honda special
EX-L are at 57%
EX-L Navi are 56%

jayfan

i recently leased a touring model in CA 3yr/12K miles for 37,350 .00103 MF, and 54% residual. i put $0 down and got a monthly of $528. what do you think of these terms?

newodyleaser

I used this site for research so figured I would contribute back to help others. Just leased a Black EX-L NAVI at 12k/year in Boston area. I think I got a really great deal (not sure what others think) using Carwoo and a really nice dealership:

Sales Price: $32,452 (inc dest)
Acquisition Fee: $595
All Other Fees :$448 (includes reg, title, docs, inspection)
Residual: 56% off the $37,685 MSRP = $21,103.60
MF: .00103 (they made a mistake instead of using .00115...but they honored it)
Sales tax in Mass is 6.25%
I put $3000 down to reduce the cap cost

Bottom line: After paying the fees, down payment and tax I basically walked out paying $3,635.50 with a monthly payment of $319.94. Honda picked up the first month and the dealership is covering my first oil change.

Not bad, right? :-) The sales manager was fantastic - got what I was looking for and just made it a smooth transaction.

unbrokenpete

Car Man or Kyfdx,

Can you please let me know the residual, money factor and if there are any promotions going on right now for a 2012 Touring Elite? Also, I have a 2009 Odyssey coming off of lease. I understand there is a $2K promo and another $1K promo or something like that?

Thanks a bunch!

mpapaj

I was offered $5500 for my trade in, $0 down, 36/mo @ 12K/miles per year = $440/month, 1st payment made by Honda. Good deal or do I need to provide more info?
Also - I asked to up the mileage to 15K/yr and was quoted $469. Seems too high, so I countered with $450/mo and the dealer balked.

CarMan@Edmunds

Sure unbrokenpete. Honda Finance's April buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey Touring Elite with 15,000 miles per year are .00115 and 52%, respectively for consumers who qualify for its top credit tier.

Honda is currently providing a $500 dealer cash incentive on the '12 Odyssey plus it is waiving the first month's payment on leases of it. You should be able to negotiate a dealer discount on top of that.

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justmeplus3

Hi -
I am in Rochester, NY. I am looking to lease a new 2012 Odyssey, LX in Smokey Topaz. I have a 2006 Honda CRV EX to trade, with 106,000 miles and I owe $3,923. (this was a previous lease buyout from the same dealer I am working with for the Odyssey) Here is what they are telling me, and I will try my best to explain as I am still trying to wrap my arms around the terms:

Cap Cost is $32,995
(price of van at $32,455 plus $595 acq fee and $75 DMV fee)
Cap Cost reduction of $4,874
(they are offering me $9,800 allowance for my trade - minus what I owe and using a portion for taxes and "other fees" which they say total around $1,315.) I am confused here as the numbers don't seem to add up.
Nothing out of my pocket, and Honda will pay the first payment.

This is for a 15,000 mile a year lease. They say the residual value is $18,823. They are "throwing in" the cargo tray and all weather mats.

Payments will be $312 a month for 36 (really 35) months. There is a good chance I will buy it out in the end.

I think I need to negotiate the base price of the car, because they are charging me MSRP. I don't know how to do this, and I am a woman, single mom to three kids, including newborn twins - I just really feel like I am being taken for a ride. I am questioning them about the numbers and they seem very fuzzy about it all. I don't know what to do. I want the van, but I feel like I am not getting full value of my CRV, plus they are charging me full price for the van. I called another dealership and they said it was a good deal, but I am not convinced.

The adverstised deal they are offering is $287 a month for the EX with a $12,000 mile 36 month close end lease. $1,500 trade or cash down, fees, first payment, taxes due at signing. Honda pays first payment.

Any suggestions?? The current deal ends by Monday, and I want to make a decision today or tomorrow.

Thank you for your help!

coupedncal

First of all, these numbers match an EX and not an LX. Assuming that is what you are getting, here is what you need to do.

(1) Start afresh. Do not follow through with this deal.
(2) Go to cars.com and contact dealers in your area. The reason i prefer third party site is you can send a message to the dealer whereas from honda's website, you cannot send a message to the dealer and that puts the ball on dealers' court to play in their favor.
(3) In the message, state you want an EX in the specific color and you are willing to pay xxx. The amount should be Invoice minus at a minumum $1000 to account for factory rebate. Others here have done much better than this but that will require negotiation skills.
(4) In the message, do not mention trade or first payment credit. Just get them to agree on the price.
(5) Once the price is agreed, mention your trade and tell them exactly what you want for it.
(6) Once the trade is agreed, then mention that you want to lease and give them the money factor you want them to give you. Money factor is published here on this forum.

It is approaching end of month so there will be extra incentive for dealers to meet your price. Don't stress over this and enjoy this experience. Remember, if you ever feel the dealer has the upper hand in the transaction, just start again with new dealer.

Hope this helps.

justmeplus3

It does, thanks. It is an EX, I made a typo. Can I ensure that cars.com won't contact the same dealer? Where on the forum can I find the money factor?

And - for my trade, at what point do I mention that I owe money on it?? After they agree on a trade price for me?

coupedncal

Cars.com actually work the same way as honda website. You pick the dealer to contact. Except as I stated, on cars.com you can actually type a message whereas on honda website, you can only provide your contact info. the message from cars.com goes to dealers' internet dept so you skip all the games that salespeople on the floor play. And you also can get a lower price this way as internet dept sells more cars and they expect to make less commission per car. That's what i have heard and this came to be true when we bought an Ody a month ago.

As for trade, you should mention the loan balance once you have settled on the purchase price and you have moved on to trade pricing negotiation.

Lastly, i am hopeful others here can chime in on money factor for April. Ours was bought in March so it won't be applicable any more.

elcaporale

Hi All

This is the first time I am going to lease a car and try to do things correct.

Here the details I have so far. I went to 2 dealership and there were difference between them, one told me $437 and the other $ 380 a month. Yesterday I found this forum and I hope someone can help me.

I am looking for 2012 Odyssey EX-L with these terms:

1. $5000 down payment
2. 36 month lease & 12k/yr

I would like to know how much should I be paying a month all included, I believe I need to know the fees, Money Factor and Residual value, the tax is 8.75%/

I really appreciate is there anywhere online or someone can get me the information.

Thanks again!

if anyone has leased something like this, would you be kind enough to post up your figures?

Thanks

coupedncal

Your best bet is to negotiate a selling price first and find out money factor (interest rate) you will qualify for. Once you have that, go to this site and plug in your numbers to get your monthly payment.

http://www.leaseguide.com/calc.htm

Your payment should be within $5-$10 of what this site tells you. It likely won't be exact because dealer puts in misc charges that you don't find out about until the day of sale.. tire disposal fee, etc.

elcaporale

Thanks coupedncal. I will start as you mentioned.

Thanks

dvsax

Offer was 525 0 down. Tradein is 07 Saturn aura ex w/115k, we owe 11400 still. Or 479 with 1000 down. This suppsed to be best deal they will do by Monday only. What you think?

justmeplus3

Hi - just wanted to give you a big THANKS and an update...

I bailed on the first dealer and started over. They gave me a hard time doing that, tried to come back and offer me $30,695 for the van, but then changed the allowance for my trade to $7,500!! That made the monthly payment exactly the same, but they tried to make it sound like they were discounting the van as a favor. AND - made me feel guilty for asking for the mats/tray!! "that is money out of our pockets that we are giving you, you won't find a better deal elsewhere, blah blah"

Did exactly what you said to do, and this is what I ended up with:

Odyssey EX with cargo tray and all weather mats
Selling price of $29,000 (This was my initial offer to them, and I probably should have gone lower......but for my area I believe this is a great price)
They gave me $10,000 for my CRV, paid off the $3900 I owed.
Nothing out of my pocket - $226 a month, 36 months, 15K a year.
No haggling at all, super nice dealer, and it was a fantastic experience.

It still blows my mind how the other dealer treated me and how I ended up with the same exact van for $3,500 less and more money for my trade, and my payments are almost $100 less per month!! I used leaseguide.com, edmunds, and trucar for my reference numbers. I am very happy. Thanks again!!