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2013 and earlier-Honda Odyssey Lease Questions

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Comments

  • adb280zadb280z Posts: 11
    Paramus DCH Honda, went through the internet department. The whole process was really easy.
  • Very nice job on the lease you found! That is a fantastic deal!

    For anyone else interested........here are the values to work out a lease (36mo & 12k miles/yr) :

    2010 Honda Odyssey LX = 58% residual

    2010 Honda Odyssey EX, EX-L, Touring = 55% residual

    Money Factor = 0.00102 (2.45%)

    Honda Bank AQ Fee = $595 (everybody MUST pay this fee)

    Cap Cost = This will vary, but I have received 5 different internet quotes, all were around $3,000 - $4,000 OFF MSRP (best quote was $4,800 OFF).

    Hope these numbers help everyone interested in leasing a 2010 Odyssey!!
  • When you negotiate the terms for a lease do you negotiate the "total price" for the vehicle ?? I'm in Va thinking about purchasing or leaseing a Lx or EX

    i was quoted "out the door price of is $24,633.14" if not using the special financing rates,
    If you apply the special financing the price including all fee will be $25,973.14

    for LX
  • bbsandrewbbsandrew Posts: 3
    edited March 2010
    My wife and I just leased a 2010 Odyssey EX-L, no RES, no NAVI, no add'l options for $331.31 a month ($354.50 with 7% sales tax). "Agreed upon value of the vehicle" of $28,235.68. Residual of $18,763.25.

    What I am not sure about though, is how much exactly we paid in "Capitalized Cost Reduction" since we were actually up-side-down on our trade-in. But for some reason I cannot find it anywhere in the paperwork that shows how much they are paying for my trade. (During the negotiations, the dealership did offer us $3000 under my actual payoff for the trade-in, but I countered with a monthly payment amount and a cash payment that they accepted)

    So I *THINK* we did okay in this deal. Maybe?

    This was done at a dealership in Buford, GA.
  • ipa2ipa2 Posts: 1
    My lease; $537(tax includ.) nothing out of pocket, added 15,000 miles per yr.

    Love the ride, room, and looks (gray paint)
  • what options did you get?, what was the total cost ?

    Thanks for sharing
  • When you LEASE or BUY a vehicle.........you can always negotiate from the MSRP. (Lease payments will have tax on the PAYMENT only/month) When you BUY or FINANCE TO OWN, you get an "out the door" price that has sales tax added to the total price.

    Get the BUY IT NOW price down as low as you can. Tell the dealer, that you are just weighing your options on a purchase OR a lease.

    Right now, there is some fantastic leasing deals going on. Just negotiate from the MSRP as low as you can (figure on $500 - $1,000 BELOW invoice) and have the numbers run thru the LEASE calculator.

    I would NOT buy a 2010 Honda Odyssey right now................just LEASE. A 2011 REDESIGNED Honda Odyssey is due out in about 6 months.
  • WOW.
    $28,235 is about $6,000 UNDER MSRP ($34,115) for an EX-L!!!!!!

    The BEST quote I have received so far was $29,399 for an EX-L.

    Running the $28,235 CAP COST thru a lease calculator, I come up with about $340.00/mo + tax So, I think you did really well!!!!
  • I felt like I did well. THANKS for confirming it!
  • kidlkcfkidlkcf Posts: 22
    I live in Northern NJ. I just got the following quote for a 2010 Odyssey EX (no leather):

    Selling price: $26309
    36mos/12k per year
    Monthly payment $299.37

    Inception fees: $1481.07

    This seems like an incredible deal. 3 years ago I leased my Odyssey for $352/mo. Is this because there is a deal right now? I actually have a couple of months left on my current lease, but I'm afraid this deal won't be there in 2 months. Any feedback?
  • Considering the advertised least special from Honda is $300 for an LX, no money due at least signing, first payment paid (by Honda or the dealer, but hey, who cares), 299.37 for an EX with 1481.07 out of pocket isn't a bad deal. Remember the MSRP on an EX is $3,100 more than that of an LX.

    It is definitely because of the special least deal. That's what got us to consider trading in our '05 in the first place.

    According to Honda's website:

    Subject to limited availability. From 3/2/2010 through 5/3/2010, to approved lessees by American Honda Finance Corp.
  • does anyone know the money factor for someone with a fico of 657.
    I would be co-signing with my sister. she is 657 mine is prob 760+. the last time I financed a car (2007) it was 800.

    I know that I would be tier 1, but does anyone know what she would be?
  • I feel like this is a pretty solid deal on the EX. The MSRP of the EX is right around $31,000 and you are getting it for $26,309.

    Most EX-L quotes I have received (I am shopping, too!!) have been a selling price at $29,000 - $30,000 (MSRP for EX-L is $34,115) about $3,000 more than the EX.

    My lease quotes have been ranging between $370-$400/mo plus tax( going ZERO DOWN, ZERO DUE AT SIGNING) with around $1200 - $1500 in fees as well that are rolled into the lease.
    **If I pay the upfront fees, the payment drops to about $350/mo + tax.
  • gt0279agt0279a Posts: 10
    Just got the following information from a dealer:

    EX-L RES+NAV Residual 51%
    Touring Residual 51%
    Money Factor .00092

    Can anyone confirm as the earlier posted residuals were much higher. Thanks
  • gt0279agt0279a Posts: 10
    Ok, Here are the correct numbers (at least in the southeast) I got:

    2010 Honda Odyssey EX-L RES+NAV = 53% residual
    Money Factor = 0.00092 (2.21%)

    Best quotes so far on the EX-L R&N:
    $449/month +tax, $0 due at signing
    or
    $400/month +tax, $1700 due at signing
  • I have a typed up dealer LEASE work-sheet in front of me. A deal I am working on is for a 2010 Honda Odyssey EX-L (no navi or res) with MSRP: $34,115

    Residual: 55% -----confirmed from 3 different dealers ($18,763.25)
    Money Factor: 0.00102 (2.45%) -----this should be the same everywhere
    Bank AQ Fee (Honda): $595 -----this fee will be added to ALL leases done thru Honda Financial

    **This is for a 36mo/12k mile a year lease. If you do a 15,000mile a year lease, the RESIDUAL falls to 53%.

    ***I am not sure if the NAVI or RES (or both for that matter) drop the residual value? Not sure? I don't see why it would........but it might?

    ****One thing is FOR SURE: the LX model has the HIGHEST residual at 58%.
  • mick0016mick0016 Posts: 6
    edited March 2010
    I picked up a 2010 EX w/RES for about $350 a month (includes tax) in the Detroit metro area. Just paid first payment and start up costs (about $600 total). I was considering purchasing instead of leasing, but the difference in payment between a 36 month lease and a 5 year purchase was large enough to give the nod to leasing.
  • Hi, It looks you got an incredible deal. Is this includes acquisition fee, ($595 chared by Honda finance, title and license fee) Can you let me know the dealer name. I am also looking for similar deal.
    Thanks
  • gt0279agt0279a Posts: 10
    I think as the MSRP increases on the Odyssey, the residuals decrease. The EX-L with RES and/or NAV has always pretty much had lower residuals than the regular EX-L.

    As far as the .00092 money factor, that is the confirmed number used in the LX 'sign and drive' deal and is based on Honda's 'top tier credit'.
    I am also a current Honda lessee, so I don't know if that matters, but all the quotes I have received have used the .00092 money factor.
  • philterphilter Posts: 2
    Just picked up a 2010 EX-L. No RES or NAV
    $0 down @ $355 month (plus tax)
    first month payment + $595 bank fee at signing

    I decided to pay all taxes and registration fee up front so I ended up paying about $2200 all in.

    Did I do OK?
  • mick0016mick0016 Posts: 6
    Yes, the $600 upfront out of pocket which included the first payment of $350 (includes taxes) plus the $250 for title and license fee - that's it. I picked mine up at Jeffrey Honda in Roseville, MI. I requested an online price from the and that was the monthly price quoted. No haggling over MSRP or any other BS. I was going to wait to see if the price was going to get any better, but I was concerned that residual values were going to drop in April with the new model 2011's right around the corner.
  • Residual Values & Money Factor are LOCKED IN, until 5/3/2010 (see Honda's website for lease details on the Odyssey......as well as all other lease specials currently offered thru 5/3/2010).........yes......they CAN CHANGE AFTER 5/3/2010.......but not before.

    All deals being worked on right now.......and thru 5/3/2010 will use the current residuals & money factors.
  • What do you mean you paid the taxes up front? What did $2200 out of pocket include? Because 1st payment + taxes + $595 DOES NOT = $2200.

    ****Your post says $0 down and $355/mo (plus tax)............so, I am confused.

    If you gave the dealer $2200 check, most likely it paid for = the 1st month of lease + taxes + DOC FEE + Bank AQ Fee + misc fees/etc + some Cap Reduction.

    Now, if you said you did a "zero down/zero due at signing/sign&drive" lease and got the payment of $355/mo + taxes...........I would say that is the DEAL OF DEALS. But, you gave the dealer $2200.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, linhtwu. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of an Odyssey EX with RES and 15,000 miles per year are .00102 and 55%, respectively.

    This vehicle's factor drops to .00092 for sign & drive leases.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    The $1,250 dealer cash definitely still exists.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car man:
    Are the money factor's different for sign and drive?
    we qualify for "preferred" and were told the MF is .00167. we made it clear that we do not want to put any money down (cap cost reduction)
    I think if we dont pay the bank fee/docs/registration up front, we would be paying tax on that every month.
    we are shopping in NJ.
    does that MF sound right to you?
  • gt0279agt0279a Posts: 10
    Finally bought the car last night. Polished Metal / Grey int.
    Thanks for all the info here!

    Details:
    36month/12k year lease
    $406.33 lease payment (plus 7% GA tax = $434.77/month)
    with $1486 down for all fees, 1st month, etc.

    MSRP $37,915
    Invoice $34,404
    Selling Price $32,876
    Residual $20,095 (53%)
    MF 0.00092
  • ckalolackalola Posts: 6
    here are my numbers....

    2010 EX with RES (bali blue)
    36 months, 12k/year
    Absolutely nothing at signing/delivery
    369/month (includes taxes...PA's 9% usage tax)
    0.00092 money factor
    57% residual

    comments?
  • globalsaloonglobalsaloon Posts: 4
    edited March 2010
    do you have a contact over there? im close to Paramus and am looking for EX-L with RES to lease ASAP!
  • what dealership did you get this from?
This discussion has been closed.