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2013 and earlier-Honda Odyssey Lease Questions
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pjtnc - how much was due at delivery?
Looks like Honda is being VERY aggressive on lease deals to steal more business away from Toyota.
The Odyssey is LEASING for $300/mo. $0 due at signing for the LX model. 36 months & 12k miles/yr.
My question is this:
What should a EX or EX-L lease out for?
Anyone have the CURRENT/NEW money factors & residuals?
Anyone can post their deals so far?
My zipcode is: 89123 (Las Vegas) if that matters
THANKS!!!
But with the LX deal it seems the residual was bumped up 2 points (.56 to .58 on the 12k/year, 36 mo. lease) and the money factor dropped from .00102 down to .00092.
I am looking at the EX-L NAV & RES if anyone has the current numbers.
Thanks
The best quote so far: ZERO DUE AT SIGNING (Sign/Drive) for a 2010 Hona Odyssey were as follows:
EX-L w/RES was $405/mo + taxes.
EX w/RES is: $383/mo + taxes
EX is: $368/mo. + taxes
LX is: $300/mo. + taxes
I think the RESIDUAL VALUES for EX/EX-L are: 53% (LX may be higher? 56%)
Money Factor is STILL the 0.00102 (2.45%)
Pretty much, I think the deals CAN/WILL be better, since a NEW 2011 Honda Odyssey is coming in August 2010. These are not bad deals, but I think there is some more "wiggle room" in these quotes.
I do think the LX is a HIGHER residual for the ADVERTISED SPECIAL. The other models might be lower.......I am assuming 53%.
Yes, working backwards on the math, it would seem YOUR numbers are spot on.
58% and 0.00102 for the LX.
where did you get it ?
Thanks
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!!
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
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.
Love the ride, room, and looks (gray paint)
Thanks for sharing
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.
$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!!!!
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?
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.
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?
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.
EX-L RES+NAV Residual 51%
Touring Residual 51%
Money Factor .00092
Can anyone confirm as the earlier posted residuals were much higher. Thanks
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
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%.
Thanks
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.
$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?
All deals being worked on right now.......and thru 5/3/2010 will use the current residuals & money factors.
****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.
This vehicle's factor drops to .00092 for sign & drive leases.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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?
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
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?
Thanks,
Jeannine Fallon
Corporate Communications
Edmunds.com
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I asked the question in an earlier post, but it was not answered.
maybe I did not post correctly....
Also for people who had previous Honda leases, does honda sometimes give you a lower buy out price at the end of the lease (lower than the stated residual)?
MSRP:30, 615
Negotiated Price: 25,348
Residual:58%
MF: .000920
Payments are 318/mo for 36months (not including tax and fees)
EX-L no RES, no NAV, in NY.
$385 a month + $17 extra for 15,000 miles per 12,000 Total $402 + TAX.
Ad says Due At Signing: 1st Mo, Tax, Bank Fee $595 & Reg.
Is that okay? Had one other offer for $369 but that was in NJ, had a $200 doc fee, and didn't have the color I wanted for now...
EX-L no extras.
386, Bank Fee + Tax, Registration due at signing.
I'd love some response as soon as possible because I want to sign this evening.
TIA.
$500 down + 35 more payments of $310/month (this is out of the door price inlcuding all tax, tags, fees etc.) for 36month 12k/yr lease. I leased it in MD but I'll register the van in VA. Also, I traded my 2007 Odyssey EX which was on a lease and I got a positive equity of $1527 back because the trade-in value was 18,600 which was more than the pay-off amount.
Plus, the whole sales experience with them was very simple and easy without any pressure-tactics or tricks. See my review in google about them.
2000 down includes first month payment.
399 per month (includes tax,etc) for 36 month 12k/yr.
Should I go for it? Or wait and see if Honda comes up with any incentives in April?
My earlier lease for EX is ending Mid April so I still have couple of weeks to decide.
What do you guys suggest?