Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier-Honda Odyssey Lease Questions

1707173757698

Comments

  • Can you tell me where in NJ you are getting quoted $35,237 for a Touring? Thanks!
  • gene00gene00 Posts: 113
    Hi Car-man. I'm trying to reconcile your quoted buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey EX with 12,000 miles per year ( .00200 and 67%, respectively) vs what I get when I enter the same terms on the Honda website. On their site (http://automobiles.honda.com/tools/finance-calculator.aspx) I get a monthly payment of $527.08 for a 36 mo/12,000 mile EX lease, whereas I get a monthly of $421.91 when I plug your MF and residual values and use the MSRP ($30,950) into the LeaseGuide calculator for both MSRP and Cap Cost, plus my county's (Marin in CA) sales tax rate of 9%. Barring minor differences for things like licence and acquisition fees, what could be accounting for the large discrepancy?
  • lebdoglebdog Posts: 4
    edited October 2010
    I'm trading my 2008 odyssey ex-l w/res 26500 miles with a pay off of 21600. I ran multiple dealer quotes and want to know if this is a good deal. The only thing I need to ask is if they will use .002 factor since we hav the super preferred lease rate.
    Price- $36,830.00
    Residual- 63%
    Money Factor- .00210
    Trade- $24,000.00
    Payoff- $21,600.00
    Taxes- $1,605.00

    License Fees- $90.75
    Documentation Fee- $150.00
    Residual at the end of your lease = $23,202.00
    Payment = $518.00
  • We always negoiate payment, figuring everything else will fall into place. Right or wrong that is how we do it.

    Tomorrow we will pick up our 2011 Touring at 48 months, 15k a year and our payment with Michigan tax is 529 a month. The only thing due when we pick up the van is our first months payment of 529. This will be our first Honda as our lease on the Tahoe is up. We are not trading anything in nor are we placing any money down.

    The second best dealer had the touring at 539 a month same 48 months and same 15k a year with only the first months payment due at signing. But 10 dollars is 10 dollars.

    Go get them!
  • onetoughmug,

    What is the buyout amount at the end of the lease?
  • I will let you know tomorrow when we sign the paperwork and see all of the numbers listed.
  • I am in California. Would be great to compare the Honda lease program with the Sienna.
  • britm3britm3 Posts: 5
    OK guys, great info on this thread which has helped me get a good deal so happy to give back on the details of my deal:

    2011 Odyssey Touring
    MSRP 41,535
    Discount -4,255
    Selling Price 37,280
    Doc Fee 364
    Lease Acquisition Fee 595
    Net Cap Cost = 32,780+595+363=38,239

    Term 36 months
    Residual 62% or 25,752
    Money Factor .0021 (.0001 over base)
    Sales Tax 6.25%
    Payment $511 monthly

    FYI I do have a trade in this deal which being valued very fairly, thus no complaints on the .0001 higher money factor.

    For those asking about the Sienna deals, the Sienna Limited appears to have no lease support whereas the Sienna LE has virtually a 0% money factor, so I was quoted close to $700 (36mo 12k) for a well optioned Sienna Limited (~44k MSRP).
  • This is great to see, I'm going to try for about the same tomorrow.
  • gene00gene00 Posts: 113
    I'm curious about tracking trade in deals - could you describe your trade in in more detail, i.e. kbb terms? year, make, model, mileage, 'condition', any major issues, what the dealer valued it at? Thanks.
  • samravsamrav Posts: 1
    Hi britm3,

    I am looking for similar deal on 2011 Odyssey Touring, do you mind sharing your state and dealer name ? I am in NC Lease deals are crazy here.
  • Is your monthly payment of $511 including tax?
  • onetoughmugonetoughmug Posts: 6
    edited October 2010
    The official numbers for our 2011 Touring.

    Sales Price $37,468.71
    Delivery $785
    Electronic filing fee $24.00
    License Fee $24.00

    Gross Cap Cost is $38,300.71

    Residual Value is $19916.40

    Monthly Payment is 499.44 plus 6% michigan sales tax = $529.41 for 48 months.

    We brought $500 to closing for the vehicle. The dealership ate the $29.41 which totaled our first months payment.

    No trade in.

    Added bonus they drove to Indiana to get the van in the color my wife wanted.
  • heathernjheathernj Posts: 24
    edited October 2010
    Car_man...I am hoping that you can clarifying my confusion. A few weeks ago you quoted me 60% residual and .002 money factor for a 2011 Ody Touring, 36 months, 15k miles per year. I have seen posted on here that varying rates of residual between 60% and 62%, and I have also been seeing (here and at the dealer) a money factor of .0021. I know that money factor can vary depending on credit but I have excellent credit (mid-700s) so I would think that I would qualify for the best money factor....are the dealers just trying to make money on me or did the money factor change? What about the residual, did those change? This process is anything but fun with the new model so I want to make sure that I am as knowledgeable as possible before finalizing a deal. Thank you!!!!!
  • Heather,

    We were tier 1 credit and we walked out with a 48 month 15k a year lease at 499 pre tax on a touring. We were quoted more a larger payment on a 36 month lease with the allotted 15k a year. As long as you have tier 1 credit I would pound them on the payment. We called 7 dealers and worked our payment down. This residual, money factor, etc is crazy to understand. Call them and tell them you want to pay "X" a month and have them work from there.
  • Anyone know if Honda dealer installed accessories can be residualized? The dealer seems to be spreading the full cost over the life of the lease so my guess is no, but wanted to double check before signing.
  • Thank you for your reply and input! I've have an offer of $513.59 pre-tax for 36 months/15k for a Touring. Sales price = $400 over invoice. I am going to finalize at lunch today and will report back once I am done.
  • I used this site in March of 2008 to work a deal on our lease for a Touring. I am now in the market for a '11 Elite. I searched back a few pages, but only find values for the Touring and not the Touring Elite.

    Can someone fill in the blanks? thanks!!!
    The official numbers for our 2011 Touring.

    Residual Value
    Money Factors
    Etc..

    I will work the sales price, but not sure what the residual and money factors would be on the new Elite.

    :confuse:
  • Sales Price = $38,090 with destination, so $400 over invoice
    Residual = 60%
    Money rate = between .0020 and .0021
    Tax rate = 7%
    Honda Lease Acquistion Fee = $595
    Net Cap Cost = $38,685
    36 months/15k miles per year
    $548.13 per month with tax

    $1,122.23 due up front ($259 Doc + $307.60 DMV + $7.50 Tire Fee +$548.13 1st month payment)

    Smokey Topaz with Truffle interior, being built in two weeks. Autosport Honda in Bridgewater, NJ......highly recommend.
  • lebdoglebdog Posts: 4
    I am finding my dealerships in Washington state are sticking to the retail pricing on the new 2011 odysseys. Is this a regional thing or am I just not negotiating well enough. others seem to be paying close to my exl w/res for touring models?? should I push harder for just over invoice??
  • Hi saudade. Here's the information that you're looking for.

    Honda Finance's October 36 month buy rate lease money factor and residual value for a 36 month lease of a 2011 Honda Odyssey Touring Elite with 15,000 miles per year are .00200 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2010 Odyssey Touring are .00060 and 48%, respectively.

    The numbers for an otherwise identical lease of a 2010 Odyssey EX-L with nav and res are exactly the same.

    15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Honda is currently providing a $1,500 dealer cash incentive on the 2010 Odyssey, but nothing on the new 2011 model.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi gene00. Interestingly, I've found that the lease calculators that are up on manufacturers' websites tend not to be very accurate for some reason. Chances are that the calculation that you came up with by plugging all of the raw data into a calculator on your own is more accurate than the calculator on the Honda site.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi heathernj. The .00200 top tier money factor is Honda Finance's top factor for 36 month leases for consumers who pay a security deposit equivalent to their vehicle's monthly payment rounded up to the nearest $25 increment at lease signing. Honda Finance will waive its security deposit requirement in exchange for an increase of .00010 in your vehicle's money factor. That's probably why the factor that you were quoted is slightly higher.

    According to the latest information that I have seen, Honda Finance's current 36 month, 15,000 mile per year residual value for an '11 Odyssey Touring is 60%. That resid would increase to 62% for leases with only 12,000 miles per year.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi jfiocca. Here's the information that you're looking for. Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey Touring Elite with 15,000 miles per year are .00200 and 60%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • loibsloibs Posts: 6
    What is the current (October 2010) Money Factor and Residual Value for a 2010 Odyssey EX-L w/Nav & Rear Ent 12,000 miles per year?

    MSRP w/ destination $37,985. What is a reasonable Agreed Upon Value?

    Does Honda offer 39 month leases with better rates for 2010 or 2011 Odyssey?
  • Thank you so much. Working the numbers now! Is is possible to get a money factor better than .002??
  • gene00gene00 Posts: 113
    I don't know if you can get a lower rate, but the honda website is showing a $1670 cap cost reduction on a 2011 Odyssey LX lease:

    http://automobiles.honda.com/current-offers-detail.aspx?ModelName=Odyssey&offeri- d=090111c080c5bf72&modelid=RL5H2BEW
  • Hi loibs. Here's the information that you're looking for. Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2010 Odyssey EX-L w/Nav, rear entertainment, and 12,000 miles per year are .00060 and 50%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda's 39 month lease program for the 2010 Odyssey is much worse than its 36 month program.

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

    If I was in the market for this vehicle right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the dealer cash. You can look up the dealer invoice price over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • You're very welcome, jfiocca. That's the best available money factor on this van right now. Honda isn't providing any lease support on the new 2011 Odyssey yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.