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2013 and earlier-Honda Odyssey Lease Questions

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  • Hey Munch21043. The basic Touring model numbers are exactly the same as the Touring Elite numbers that I mentioned in my previous post.

    Car_man
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  • I'd be happy to help you out John. Honda Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey LX with 15,000 miles per year are .00155 and 61%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a '12 Odyssey EX are .00155 and 61%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks Car Man.

    It appears a second dealer is giving me the better deal (see my last post). However they are using a lower residual value on the Touring than the first dealer I went to (52% vs 55%).

    It seems to me I shouldn't haggle with this to much because my monthly payment will be the same (535/mo for 15k/yr) with no money OOP, and the lease end buy out will be less (MSRP 41990 21,835 vs 23,095).

    Am I missing something?
    This deal isn't done yet so I am still a little skeptical.

    Any and all comments welcome.

    MUNCH21043
  • You're welcome MUNCH21043. As long as you are looking at the same term, mileage allowance, and trim level there should not be any difference between the residual values from dealer to dealer. They're set by Honda Finance and individual dealers do not have the authority to alter them.

    Car_man
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  • quietm1006quietm1006 Posts: 1
    edited November 2011
    Garden State Honda
    My son-in-law is in the process of leasing or purchasing an Odyssey. The first deal worked out so far is,
    About the trade, 2007 Kia Sedona, App. $7400. remaining on finance, 38,000 miles, good condition, given $10,000.
    About the lease,
    $499. month,
    no additional money down,
    msrp $36,500, not allowed to negotiate,
    app. $21,000 buy-out.

    Can he negotiate a better deal?
  • Car Man,

    What is the lasest Residual Value and Money Factor for a 2012 EXL-RES 36 mo./12,000 mi lease?

    My dealer quoted 59% RV, but I thought is should be closer to 61%.

    Thanks !!!
  • Hi,
    I'm trying to decide wether to buy or lease an Odyssey EX-L +NAV. As a matter of process, is it best to simply start by negotiating the sales prices of the vehicle without disclosing how you intend on paying for it? So, if I can get a reasonable selling price that should reduce my cap cost for a lease but will they then just play games with my residual value figure? Also, is the RV calculated off the MSRP of the vehicle?

    Thanks for any advice - John

    P.S. Anyone happen to know the RV and MF for a 2012 Odyssey EX-L +NAV (12k miles/year)
  • I wanted to post the deal I negotiated yesterday. I live in Maryland where the lease tax laws suck, but besides that the trade-in negotiation and negotiated price of the Honda, and OOP expenses should be informative.

    First the numbers:

    2012 Touring 36 mo lease 15000mi /yr

    55% RV 0.00155 MF NEED TOP TIER Credit Rating

    Negotiated Price of $38920

    Trade-in equity of $2500 (PayOff 27000 and 29500 offer - CARMAX appraised at 30000)

    The Edmunds TMV for this trim line is about 39900 and INV is about 38100. To put the negotiation into perspective, we started out getting an internet price of 39500 and $1500 trade equity. When we sat down last night the vehicle price had come down to 39000 and $2000 net trade. This deal was to give us 535/mo with no money OOP.

    We were able to get the monthly payment down to 525/mo by getting a little more on our trade.

    Then our lovely governor O'Malley's lease tax law smacked us in the face (long story short since we were leasing our non Honda tradein we couldn't use the tax credit to lease a Honda). We had to pay 6% tax on the entire negotiated price of the vehicle (6% of 38920).

    We ended up about $1750 (500 dep incl) OOP to cover the left over tax bill. After the paperwork the monthly payment came to $522/month.

    And the no-money out of pocket is always a crock. The dealership always takes it out of your trade or rolls it into your monthly payment. Its not like they eat any of the cost). They even used our $500 deposit which initially they said they were going to refund back.

    The only thing under our control is the negotiated price and trade. Thanks to Edmunds the dealer can no longer fudge the money factor.

    Regards and I hope some of you can use this information to your advantage,

    Munch 21043

    ps - I would have walked out and came back at the end of the month but I had my wife with me and she was afraid we would lose the smoky topaz with truffle interior.
  • Here's the information that you're looking for football_dad. Honda Finance's November buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EX-L with RES and 12,000 miles per year are .00155 and 59%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • Hi John. Dealers really aren't allowed to alter banks' published residual values. They can however mark up vehicles' money factors from time to time, so it pays to make sure that the dealer is using the buy rate for the vehicle that you are interested in. Honda Finance's current buy rate for the 2012 Odyssey is .00155.

    The residual value for a 36-month lease of a 2012 Odyssey EX-L with Navigation and 12,000 miles per year is 59%. This is a percentage of this vehicle's full MSRP, including the destination charge.

    Car_man
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  • Hoping you can help, didn't realize there was a seperate lease thread. looks like I found the color combo i'm looking for, apparently it's the last one in California for the 2011 touring.

    Dealer offered $37,900. He said he'd negotiate down a few hundred more (although typical salesperson as he wouldn't commit over the phone. The 2012 on Truecar looks like I can get it for $39,009 ($500 over invoice). I decided I'm doing the 3 year 15K mile lease.

    I think the depreciation on the 2011 is 50% vs. 2012 is 57%? Money factor on the 2011 is .00145 and I think 2012 is .00155? could that be right? that the 2011 is lower than 2012?

    So thoughts on which I should get? I don't think I'm keeping it after 3 years as I'm hoping we can get into a hybrid suburban at that time, or maybe even a hybrid minivan if they are out by then.
  • Ended up getting the 2012 touring, black with truffle interior for $39,109 (door guards was $100 from a dealer transfer). But basically it was $500 over invoice. I used www.truecar.com dealer called within 15 min, said he wouldn't charge extra to do a dealer transfer and agreed to the same $500 over invoice.

    Grace Honda in San Bruno for you bay area folks. Gerry was straight forward no haggle, just came in and did paperwork. We signed everything tonight in a little under 2 hrs. I'm picking it up tomorrow.

    I ended up leasing, $1K walkout which included 1st month payment, MF of .00155 50% residual on a 15K mi 36mo Lease.

    $406 after tax (8.25% here)

    I'd definitely use Truecar again, transparency of what others are paying is awesome.
  • hi, I leased a 2012 Odyseey EX-L - 465 + tax -- leasing for 2 yrs only.
    If you want to find the best price and how the leasing is calculated - visit : weymouthhonda.com -- this a MA dealersip and very honest. I was able to get a best deal after showing the local dealers the pricing these guys offered and all had a hard time to match and exposed what everyone was hiding.
  • I think you have a typo in your monthly cost - $406 after tax can't be right. Did you have trade equity?
  • emiratesemirates Posts: 1
    edited December 2011
    Leased a Touring-Elite.

    0 down, 35 pmts, $ 510. 36k month 12k miles. Sign and drive

    Charlotte, NC.
  • dasandasan Posts: 3
    Looking to lease a Touring Elite - does anyone know if the 59% residual value and 0.00155 are the appropraite amounts to use?

    Also any thoughts on a 39,792 cost to buy? Is that a good price?
  • Hi dasan. The money factor that you mentioned is correct, but the residual value is wrong. Honda Finance's current 36-month, 12,000 mile per year residual value for a 2012 Odyssey Touring Elite is 57%.

    A selling price of $39,792 is indeed a very good price...it's below dealer invoice.

    Car_man
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  • gene00gene00 Posts: 113
    Hello Car_man. I was hoping you could provide the money factor and residual for a 2012 Odyssey EX @ 12,000 miles per year. Also for an Odyssey EX-L, no options, same mileage.

    Thanks!
  • Here you go gene00. Honda Finance's December buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EX with 12,000 miles per year are .00155 and 63%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of an EX-L are .00155 and 60%.

    Car_man
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  • You're welcome dasan.

    Car_man
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  • I received the following quote from for a 2012 Honda Odyssey Touring Princeton Honda in NJ and would like to know if this sounds like a good deal

    Selling price including destination : $38,097.00
     
    Accessories including labor:
     
    Moonroof visor:  $183.90
    Door Edge Guards: $85.90
    Roof rails with cross bars:  $496.60
    All season floor mats: $209.30
    Honda remote start:  $666.14
     
    Total in accessories = $1641.84 - 15% off (246.27)
     
    $38,097.00 + $1,395.57 = $39,492.57 + tax, doc fee and DMV fees.

    I plan to trade in a 2007 Acura MDX (Sport / Entertainment) model. Appraised at $17000

    Breakdown from dealer:

    Retail Price $41990
    Savings $2498
    Selling Price $39492
    Options $1396
    Sub Total $40886
    Fees $197
    Sales Tax $1889
    Trade $14000
    Trade Payoff $6425
    Net Sales Price $35398

    I was told they could only apply up $14000 of the trade towards the lease (IS THIS A TRUE STATEMENT?), and I have the option to receive $3000 from them and could apply it as a down payment. I would like to know if the following options are good/correct based on the above:

    36 Mo / 15K miles no down payment $427 a month

    36 Mo / 15K miles $1000 down payment $395 a month (I would receive a check for the remaining $2000)

    36 M0 / 15K miles $2000 down $363 a month (I would receive a check for the remaining $1000)

    The quote does not have a payment if I use the entire $3000 down payment

    I've tried different lease calculators and could not get any of these monthly numbers. If anyone has some time to offer there assistance, I would greatly appreciate it.

    Thanks in advance.
  • Hi Car_man,

    May I please have the MF and Residual on the 2012 EX and 2012 EX-L?
    Based on 36mo and 15K miles/year.

    Thank you,
    Jimmy
  • Greetings,
    Ok... this is my second time leasing through Honda Finance ( Southern California) but this was my first time going by monthly payments alone and not by purchase price.

    I had a 2009 Honda Odyssey EX (32000 miles) which the end of lease was fast approaching. I was intending to do a simple buy out of the lease at $16,307 through my credit Union but I decided to visit the Honda dealership I originally leased the vehicle from to see what they can offer.

    Also there where many features that the 2012 offered over the 2009 model that swayed me as well as the fact that I would have needed to spend around $1,500 for new tires,battery and brakes for the upcoming year if I bought out the 2009 vehicle.

    Anyway I said to the salesman that I did not want to put any money down and asked what they can do to put me in a 2012 EX. They came up with $350.70/month flat with 12K miles a year and a residual at the end for $20,339. I had no trouble at the end with the finance guy trying to add any surprises so I was relieved.

    The agreed cost of the 2012 Odyssey EX was 30,275.00 and Gross capitalized Cost was $30,899.00. The 2009 Odyssey was valued at 18,000.00. So the difference was used for the deal.

    I think this was a fair deal being that I put no down on the vehicle and simply drove off with a brand new car.

    What do you guys think?
  • The money factor and residual numbers I'm using are:

    2012 Touring 36mo 12K mi Money factor of .00155 and residual of 57%
    2012 Touring Elite 36mo 12k mi money factor of .00155 and residual of 55%

    Car_man, do you think these are right?
  • Hi Carsearchnj, did you end up leasing or buying from the dealership?

    I am looking to lease but the initial quote I got for a 2012 Honda Odyssey Touring Elite for 36 mos / 15k / 0 OOP was $650.

    Your quote for the 2012 Touring for 36 mos / 15k / 0 OOP for $427 looks like a dream.

    How did you get to these numbers?
  • I did lease...36mo/15k. I also had a trade-in... We settled on $17700 for the trade. There was a payoff of $6440 on my trade. I settled with them for $325 a month and $1500 cash back to me on the 2012 Odyssey Touring, not the Elite. I also went to another local Honda dealer, but the best they would do was $399 a month, no cash back for the same Odyssey with the same options.
    Hope this helps...
  • I did lease...36mo/15k. I also had a trade-in... We settled on $17700 for the trade. There was a payoff of $6440 on my trade. I settled with them for $325 a month and $1500 cash back to me on the 2012 Odyssey Touring, not the Elite. I also went to another local Honda dealer, but the best they would do was $399 a month, no cash back for the same Odyssey with the same options.
    Hope this helps...
  • Hi carsearchnj, thanks for replying back to me.

    So without your trade in, how much would the 2012 odyssey touring be for 36 m and 15 k ?

    For the Touring Elite, I am now at $590 for 36 m, 15k, 0 OOP.

    In NJ, how much is considered a nice deal on a lease for the Touring Elite?

    Someone in Maryland quoted $510 for the Touring Elite out the door for the same condition as my $590.

    Any insights are greatly appreciated.

    Is there a way I may contact you to get salesperson name? Thanks again.
  • The best quote I've gotten is on a Touring not Touring Elite. It was 36mo/12K miles 1500 down + first month = $2,000 total at lease signing then 35 payments of $500 which includes NY tax of 8.875%. Is that good?
This discussion has been closed.