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2013 and earlier-Honda Odyssey Lease Questions

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  • mrobie64mrobie64 Posts: 4
    I've been shopping for an EX and received the following quote from a local dealer in the San Fernando Valley:

    36 month lease
    12k mile per year
    0 down
    $327 per month (includes taxes)
    $729 drive off (registration, acquisition, 1st month payment)
    $27,700 sale price (this includes the $1500 manufacturer to dealer cash incentive)
    residual value is $18,286.80

    Having never shopped for a lease before I really don't know how good this deal is. Thoughts?
  • yoyo77yoyo77 Posts: 2
    mrobie64, what dealer did you get this deal at?

    Thanks.
  • mrobie64mrobie64 Posts: 4
    Galpin Honda. I got the car and actually negotiated the selling price down to $26,900. Other dealers wouldn't match it so I'm confident that I got a good price.
  • mrobie64mrobie64 Posts: 4
    With the lower sale price I went for 15k miles per year. My monthly payment is $326 and that includes tax.
  • jmailjmail Posts: 19
    Carman,

    Do you have the May lease figures for the 2013 Odyssey Ex-l (no res, no nav) 36 month 12k miles? Thanks!!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure do jmail. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with 12,000 miles per year are .00048 and 55% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is providing $2,000 dealer cash on the '13 Odyssey EX-L right now. Make sure to take it into account during your negotiations.

    Car_man
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  • mrthnmanmrthnman Posts: 20
    Hey Car_man , do you have the numbers for the 2013 Odyssey Touring ?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Sure mrthnman. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey Touring with 12,000 miles per year are .00048 and 50% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is providing $2,000 dealer cash on the '13 Odyssey EX-L right now. Make sure to take it into account during your negotiations.

    Car_man
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  • jmailjmail Posts: 19
    Carman,

    The edmunds website is showing 2500 in incentives available for a lease. Is that right or am I misreading the incentives information? There appear to be 3 programs but one is not combine-able. The other two are for 2500. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jmail. Interesting. I had heard that there was $2,000 dealer cash on the 2013 Odyssey. It certainly does look like Edmunds states $2,500. Even better.

    Car_man
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  • jmailjmail Posts: 19
    Agreed! More is better! Just wanted to make sure I'm getting the best deal out there. Thanks so much for the help!
  • katieadkatiead Posts: 2
    I've got an offer for lease 2013 Odyssey EX-L
    sales price $30,534 minus $750 cash incentive covering the upfront fee, 1st payment and $139 toward cap cost reduction.
    the residual is $19,056.15, fees total $210.00 and the excess mileage charge is .20.

    0$ out of pocket, 35 payments
    Payment before tax $355.49 after tax $387.48
    Is this good? How do I get them to lower the sales price? They say this is with the $2500 incentive included. I have been doing all research by email. Do I just offer a lower price? How low is reasonable? Could I ask them to throw on roof rack? I forgot to get one in the quote. They say they have 3 of the color i want in stock as well (black). Thanks for any advice!!!
  • Hi Car Man,

    Could you provide the numbers for an EX-L with DVD-RES for 15k miles per year?

    Also, in regards to the 2000 dealer cash - Edmunds says that a fair purchase price is $33618 for this car - would you try to get the 2000 dealer cash off this figure?

    Thanks
  • jessewkjessewk Posts: 2
    I leased a 2013 Odyssey EXL with res on 5/15 Smoky Topaz with truffle leather.
    Central Florida Market and with very good credit.

    Purchase price was 32044 - 750 Honda down payment assistance = $31294
    12k mile 36 month Lease
    Payment 375 plus 24 in taxes =$399 payment with a $1000 of my own cash down.

    Residual is $19581 Money factor was the .48 number in previous post's

    This dealer installs door edge gaurds, pinstripes, splash gaurds, trunk tray, wheel locks, nitrogen in the tires, and window tint on every odyssey in stock which adds $2100 to sticker. I argued that was a little rediculous and sales manager thru them in for free but I feel I could have got a better purchase price if the vehicle was stock. That being said I do like the additions.

    I stress this is probably a "good deal" and not great as I do not have the negotiating patience as my father but we had a number in our head we wanted and when we got there we took it.
  • res332res332 Posts: 13
    edited May 2013
    Carman,

    I have a deal to lease an Odyssey EX, 36 months @ 12K miles per year for $425 down and a monthly payment of $309 which includes PA taxes (about 9%). To increase milage from 12K to 15K per year dealer said monthly payment would increase to $330 a month. Does this sound about right?

    Thanks
  • wesoweso Posts: 6
    Carman, can you give me the money factors and residual values for a 36 month lease of a Odyssey Touring Elite with 10k and 12k miles per year? I've gotten a quote of $550 per month on a 36 month, 12k miles per year Touring Elite which seems high and wanted to run my own numbers and show them.

    Scoured the site and didn't see any numbers for the Touring Elite, apologies if I missed them.

    Many thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome jmail.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited May 2013
    Here you go njhonda1978. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with 15,000 miles per year are .00048 and 51% for consumers who qualify for its top credit tier.

    If I was in the market for this van right now in an area that has a decent level of competition, I would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $2,000 dealer cash.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, the payment increase that you were quoted for a switch from 12,000 to 15,000 miles per year does look about right.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Certainly weso. Honda Finance's buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey Touring Elite with 12,000 miles per year are .00048 and 50% for consumers who qualify for its top credit tier.

    The residual value for a lease with 10,000 miles per year would be 1% higher.

    There's $2,000 dealer cash on this van right now.

    Car_man
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  • tcurtintcurtin Posts: 5
    Hi Car Man.
    I am looking to do a 36 mo/36k lease on a 2013 EX-L-RES with $0 down, taxes (8.625%), tags,title,etc inclusive "sign 'n drive" deal for $400 or less/month. A true sign 'n drive w/ absolutely no money exchanged whatsoever! I have excellent credit.
    Is this reasonable and if so, what sale price would have to be negotiated in order for these numbers to be achieved?
    Any help in this matter would be greatly appreciated!
  • Just leased an Odyssey LX. 0 down .289.00 month including all taxes. 36months 36000.Seemed like a real good deal. What do you think.
  • fatygifatygi Posts: 2
    I leased an EX-L (No Res/No Nav) for $362 per month (including tax). 0 down, 36 months lease, 12K per year and first's months payment made by the dealer. Excellent credit, money factor was 0.00048 and 53% residual.

    What do you guys think, comments?
  • d_nyholmd_nyholm Posts: 73
    That seems like a pretty good deal for a Honda lease. Though better deals are to be had with other leasing companies.
  • ebd4662ebd4662 Posts: 8
    Carman, could you please provide AHFC's May money factor and residual value percentage for 2013 Honda Odyssey EX-L with RES. on a 12k per yr. / 36 month lease. Thanks soooo much.
  • kohyutakohyuta Posts: 16
    This is the deal we signed over the weekend for our EX-L w/RES...

    $347/month for 36 months, 36k miles, $3200 due at signing.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tcurtin. According to my calculations, $500 over invoice minus incentives gets you to a zero down, pre-tax monthly payment of around $398. That's not even including any fees like acquisition in the cap cost. So in order to get this van for under $400 including tax you're going to have to get the dealer to lease you this van for well under invoice. They probably would have to use some of the Flex Cash certificates in order to do so. So, it might be possible but it would be one heck of a deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ebd4662. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with RES and 12,000 miles per year are .00048 and 52% for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal, make sure to take advantage of the $2,000 dealer cash that is currently available on this model.

    Car_man
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  • ebd4662ebd4662 Posts: 8
    edited June 2013
    Car_Man, as always thanks for the help!.

    Just negotiated this deal in Brooklyn, NY , let me know what you think.

    2013 Odyssey EX-L RES 3yr/ 36k miles.

    $419 per mo. tax included. No money down (cap cost reduction)
    1st month payment of $419and $595 bank fee= $1,014due at signing.

    MSRP $37,655
    Sale price $32543
    Residual $19581 (52%)
    MF .00048

    All advice welcome. thanks
  • mrthnmanmrthnman Posts: 20
    thats pretty good , what dealer did you get that from ?
This discussion has been closed.