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2013 and earlier-Honda Odyssey Lease Questions

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  • dylrexdylrex Posts: 58
    Just first months payment.
  • daved5daved5 Posts: 3
    Sorry, that $50 was suppose to be $500 down, I am trading in end of lease EX with 37k on it, I was allowed 45k, there should be equity in car, payoff is $16.2k, not sure cap cost.
  • Hi la_guy55. Nearly $700 per month for an Odyssey is indeed outlandish :) .

    Car_man
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  • adb280zadb280z Posts: 11
    I'm in the spot, got a 2010 Odyssey EX about to be off lease and I'm not having a lot of luck getting a good deal. That price would definitely work for me.
  • daved5daved5 Posts: 3
    I asked about 2012 model and was told I would do better with 2013 right now.
  • canowpscanowps Posts: 12
    Hi Car_man, I always check here to start my car research. Thank you for all your hard work.

    Looking at leasing a Touring or Touring Elite. I was hoping to confirm an equivalent interest of 1.3% or 1.54% for a 36 mo lease that I found online (both are listed) good through 03/04/13. Also wondering what the residual is for 10k mi/yr for the Elite and Touring.
  • dylrexdylrex Posts: 58
    You can use the below link for comparison purposes. According to their site, you can get a 2013 Odyssey EX with 15k per year for $363 a month before taxes.
    http://www.weymouthhonda.com/lease/?&code=RL5H4DEW&lmileage=15
  • canowpscanowps Posts: 12
    Thanks for the link. I wish all dealers spelled out leases this easily.

    Looks like residual for a Touring or Touring Elite at 12k mi/yr is 51% with a money factor of 0.00064.
  • You're very welcome canowps.

    Honda finance's January buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey Touring with 10,000 miles per year are .00064 and 52% for consumers who qualify for its top credit tier.

    The numbers for the Touring Elite are exactly the same.

    There is a $500 cash incentive on both of these vans right now.

    A money factor of .00064 is equivalent to an interest rate of around 1.54%.

    Car_man
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  • zheckszhecks Posts: 36
    edited February 2013
    Car_man,

    Is the lease rate (2013 Odyssey Touring Elite) money factor / residual value for 36-month lease the same for the month of February (0.00064 and 52%)?

    Need a mini-van in 2 weeks. As always, this is the place I check before buying any cars.

    Also, I live in CA, I see some out of state dealers are discount the 2013 by $5000. can I expect the same in So. CA?

    thanks...zhecks
  • Hi Car_man,

    Thanks for all the info - your service is great!

    What is Honda Finance's February buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX for both 12K & 15K miles per year in Florida?
  • Yes, zhecks, as of right now (and in the world of incentives everything is usually subject to change) Honda's February lease program is exactly the same as its January program was.

    Southern California is a very competitive market. I don't see why you wouldn't be able to get as good a deal there as someone would in any other part of the country.

    Car_man
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  • You're welcome and thank you dacarmon.

    Honda Finance's buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX with 15,000 miles per year are .00064 and 55% for consumers who qualify for its top credit tier.

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

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • bmar1bmar1 Posts: 1
    CArman,

    What about an EX-L with navi.
    12k/36 months.
    Whats resid and money factor

    Thanks!!
  • I figured I'd share some real world numbers for anyone shopping around. I really can't say for sure how good or bad I did, I'll defer to you guys on that :)

    I turned in my 2010 EX-L lease with one payment remaining, the dealer absorbed the last payment.

    I got a 2013 EX-L, no navi or dvd. 12k miles/yr.
    I put down $2200 including taxes and my payment is $389/month.

    On my 2010 EX-L I put down about the same and I was paying $372/month.

    I don't know if I got the best deal around, but I didn't have to haggle very hard and I feel comfortable where I ended up. Hope this helps others shopping around.
  • Hi everyone:

    I am new to both this site and to leasing and am hoping for some guidance. We're looking to lease a 2013 Odyssey EX-L, 12k miles a year, no money down. I have an 04 Acura TSX as a trade in with 170k miles on it (a ton, I know, but it is what it is). The best lease deal I've been quoted so far is $384/month for 36 months with the Acura as trade in to cover tax, title, etc., plus I'd owe the first month's payment at signing. Is this a good deal? Again, I've always bought, not leased cars, so I have no idea how to compare. I do not want to sell the Acura on my own, as I don't want to deal with the hassle and I know I'm taking a hit by trading it in, but I just want to know how this overall deal looks to someone more educated than me. Thanks so much in advance! -Greg
  • You need to post:
    MSRP
    Selling Price
    Money Factor
    Residual
    Detailed Fees

    Do you have a carmax near you or a dealer that will buy your Acura? Try to get a quote from them to make sure you are getting maximum value for your trade-in
  • Thanks. I'm working on getting those numbers from the dealer and will post them when I have them. Unfortunately, I do not have a carmax nearby.
  • Thanks Car_man! Do any of the figures change by going to the EX-L (no navi or rear entertainment system)?

    Also - going to be checking out the Nissan Quest - so will be posting questions in the lease forum there as well.
  • Finally got my odyssey, picked up a 2013 Base EX-L in bay area for $30750 plus fees. Lease was for 36month 12K/year, payment came out to be $393/month with $750 drive off fee.
  • Been researching off and on for a Touring or Touring Elite for the last month. Best I could find was about 11% off MSRP. Discovered True Price from searching on cars.com which is supposed to be a no haggle price. This morning Honda of Serramonte listed their Touring and Touring Elite's for 14% off. Went in asking for the $38,491 price, 0.00064 money factor and 51% residual on a 12k mi/yr, 36mo lease and got it. Amazingly painless. Went for the Elite because the deal I got was what I was hoping to get for a Touring. No surprises or pushy add-on sales in the finance room either.
  • Do you mind sharing your cash due at signing & monthly payment before tax? I'd guess around $530/mo with no money down.
  • $530.36/mo including 8.5% sales tax, $489.94 pre-tax. Just under $1210.21 paid at signing. $0 cap cost reduction, first payment, thus fees of $679.85.
  • My lease is ending in 21 days.

    Park Honda quoted me $359 a month for 12k mile/36 month lease $0 down. That does not include taxes.

    I have a 2010 EX to turn in with 29k miles. My payment is $339 with taxes and that includes one month roll over payment from previous car.

    Can I negotiate at all, since the car has lower miles than anticipated? Park is saying they don't set the prices, Honda does.

    Thanks
  • dylrexdylrex Posts: 58
    That sounds high. You definitely can negotiate. Are you just turning the car in or trading it in? I'd tell them you have another dealership willing to give you some positive equity for it. You don't have to turn it in there.
    I had an '07 Odyssey that I traded in a few months early for a '10 and because the vehicle was in such good condition, I asked for $1k in positive equity that I used to reduce the cap cost on the new one. I could have asked them to cut me a check and pocketed that but decided to use it to reduce my cap cost. Ended up in an EXL-RES for $399 a month, tax included.
    Good luck!
  • cinnamongirlcinnamongirl Posts: 3
    edited March 2013
    I got a quote from another dealer and it's the same dollar. They told me they are giving me a $1,500 discount. Which I find interesting, since my first quote had no such discount and was the same money! :mad:

    I Am thinking no one wants my van. It has some dings, but Honda has said no excessive wear and it's 7k miles less than what it should be. Someone is going to make money on this car and it's not me.

    Everyone seems to be getting a deal on this forum. Maybe there are no deals to be had in Ohio.

    My next step is to see if HFS will let me extend my lease.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bmar1. Through March 4th, Honda Finance's buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with navigation and 12,000 miles per year are .00064 and 53% for consumers who qualify for its top credit tier.

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

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited March 2013
    You're very welcome dacarmon. The money factors for the EX and EX-L are the same, but the residual values for the EX-L are 3% lower.

    This drop in residual values is partially offset by an increase in the dealer cash that is available on this van from $1,000 on the EX to $1,500 on the EX-L.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cinnamongirl. A $1,500 discount on the Odyssey is terrible if the dealer is not subtracting the dealer cash that is available on this model from that.

    Car_man
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This discussion has been closed.