Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Options
2013 and earlier-Honda Odyssey Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey Touring Elite with 12,000 miles per year are .00200 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
I'm not sure if Honda Finance offers 10k leases on Honda Division vehicles, but if it does its resids for them would be 1% higher.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Is there any way to know the cost for pre-buying overage miles?
We are trying to decide between these three vehicles. Can you please provide money factor/residuals for a 36 month lease/18,000 miles for each? We are new to "educated" leasing; last time I leased was when I was way younger and only cared about the monthly payment..
I am awaiting internet quotes on the 2011, but for the 2010 Touring I got this:
$35,237+ $780 destination (msrp $41,535). Lease for 36 months would be $523.79 (I'm assuming for 12,000 miles - we'd need 18,000) with only first months payment due at signing including NJ sales tax and NJ DMV fees
For the 2010 EXL w/NAV & RES we got:
$32,450+ $780 destination. Lease for 36 months would be $490.74 with just first months payment due at delivery including NJ sales tax and NJ DMV fees. Again, assuming 12,000 miles - we would need 18,000.
Still trying to figure out what else I need to know. This is all so complicated.. But does this sound like a decent deal? And if so, is there any chance of us getting a similar deal on the 2011 Elite?
Thanks so much!
(edited because I kept leaving out details! sorry..)
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
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!
What is the buyout amount at the end of the lease?
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).
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.
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.
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.
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:
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.
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
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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?
http://automobiles.honda.com/current-offers-detail.aspx?ModelName=Odyssey&offeri- d=090111c080c5bf72&modelid=RL5H2BEW
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
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
I have looked through pages of post but can not find the residual values that I need. Can you list the residual values for a 2011 EX-L and EX-L with RES. Both of these would be for 12,000 miles. Thanks
Please let me know what you think of the following deal I was offered today @ Pauly Honda, Libertyville, IL.
2011 Odyssey EX-L
MSRP $35,230
Vehicle Cost $31,985
Markup 2,095
Total Selling Cost $34,080
Acquisition Fee 595
Doc Fees 175
Capital Cost $34,850
Residual: 64% = 62% Base + Bump 2%
Money Factor .0021
Only 2 EX-L's in stock. 2 week wait to get preferred color. This is a large dealer. Very few EX-L's in stock in Chicago area.
Was quoted an internet price of $33,630 by Pauly and $32,970 by a dealer over the border in WI. Salesmen stated that all internet prices are before $780 destination charge. Is this true? Is the $595 acquisition fee normal and customary?
I was told the base value they uses is $35051. But I tried to plug in those numbers like 58% residual, money factor .00060, etc., couldn't come up with this $477. Actually I kept getting something higher... Thank you!