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2013 and earlier-Honda Odyssey Lease Questions
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Can you tell me what the August money factor and residual % is for the 2012 Odyssey EXL w/ RES on a 12k 36month lease for top credit rating, please?
These factors are set by Honda, correct? I also understand they still have the $1,250 dealer cash for August as well, correct?
Thanks,
Brad
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Usually after market add-ons or dealer adds are not fully residualized if at all. Fund providers know that dealers inflate the cost of add-ons and so they don't allow the add-ons to be fully residualized. For instance, if a dealer-installed moon-roof retails at $2,000, the fund provider may only allow $1,200 of that amount to be residualized. So, $1,200 would be added to the MSRP to arrive at the adjusted MSRP and the residual value would be computed based on this adjusted MSRP using the prevailing residual rate.
Hope this helps.
John
TheAutoLeaseGeek
Can I please get MF and Residual Value on a Touring Elite. Lease will be for 36 months with 15K/Year.
Thank You for this great service you provide.
Best,
Tom
If I lease, I would be paying $498/month for 36 months at 15K.
If I buy the Odyssey at $34K, put down $10K and finance $24K, the 0.9% rate will give me a payment of about $400/mo.
Aren't we always better off financing than leasing? What am I missing? The interest rate on the $ in the bank being left vs. 0 down on the lease is marginal when they are only giving 1% on savings.
5 years of ownership is about the break even point for lease vs purchase, over that a purchase usually wins. Since interest rates for purchases are currently so low (if you qualify for the .9% vs something like 3.2 % for leasing), if you can get it around $31k, I like the idea of the purchase. Plus get the longest offered extended warranty (before you hit 6k on the odometer) from one of the national discount honda dealers, and drive your car for as many years as you can stand (lets say 7 or more), you are way ahead of the lease.
On the other hand, if you'll want a new one when the 2016's come out, by all means lease it.
Selling the 2012 Ody in 2016 would still net me a better value if I hold title, right?
I then leased a 2011 Odyssey for my wife. I have absolutely no idea how this one will turn out. There are no absolutes in lease vs buy, you need to evaluate each case and even then you can only guess how much the vehicle will have depreciated by the lease end.
$498/Mo EX-L w/Res 0/0/0 15K/36Mo or
$549/Mo Touring 0/0/0 15K/36Mo
Is the Touring worth $51 more per month?
I'm pretty close to buying.
The deal is 32,700 (w/Destination) then subtract the $1,250 cash.
That feels like a decent deal to me - below invoice before incentives.
But what I can't figure out, is that people are getting pricing much lower - like 31,500 before incentive.
I think there is only 700 in holdback on the van + 350 in HDAG. I think I'm giving them a profit of about 600 bucks - that is fair.
Most of the really low prices that I have seen are in states with sales tax (oregon is not).
Does anyone know if dealerships go lower in states with sales tax?
Any other advice - if I'm within $200 bucks of a great deal, that is fine.
But I don't want to be $1,000 off.
Thanks.
The buy rate is the lowest possible money factor that the dealer can use to calculate your lease payment, but dealers are sometimes allowed to mark vehicle's money factors up to add additional back-end profit to deals. Honda dealers aren't notorious for doing this like say BMW dealers are, but it's still something to keep an eye on.
Yes, Honda is currently providing $1,250 dealer cash on this van that you should take into account during your negotiations.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
When negotiating your deal, make sure to take advantage of the $1,250 dealer cash that is currently available on this van.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Truly the best place on the internet to get relevant information regarding the purchase of a car. An invaluable resource.
Tom
Bryan
This will be our first lease and have found this forum to be invaluable in helping to understand negotiating a lease. A few questions: 1. For those who have recently negotiated, how did you use the 1250 dealer cash incentive in your negotiations? Did you bring up the dealer incentive once you almost agreed on a final price? 2. We are seriously considering carwoo to use for the negotiations. For those who have used carwoo (or any type of internet sales), is it advantageous to mention you are looking at a lease before or after you negotiate price?
Can you please update money factor and residuals for EX-L with Navi
Last night signed up the deal and will be picking up the vehicle today.
36 Months/12k per yr
Including everything
( Tax + Title + Bank fee+ dealer fee+ Firstmonth Payment ) Monthly payment - $459
Out of pocket due at signing - dealer wash - 95 + window etch 199 = $294
I have a friend that was contacted by the dealership that he had leased his 2010 EX-L RES from and they offered to take his current van and put him into a 2012 for the exact same payment and terms as his 2010. I was skeptical when I heard this but it was true. He picked it up last week.
Since I had a 2010 as well, I contacted his dealership and asked if they would do the same for me. Yesterday, I dropped off my 2010 with 8 months left on a 36 month lease and drove away with a new 2012 EX-L RES for the same payment ($399 tax included) I was paying on my 2010. We only paid our first months payment at delivery. This is a 36 month lease with 15k miles a year.
We're very happy with this deal.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
When negotiating your lease on this van, make sure to take advantage of the $1,250 dealer cash that is currently available on it.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Thanks
I would have attempted to get some positive equity out of our 2010 van but we had a few cosmetic blemishes that I felt would work against us. What dealership contacted you? You should tell them if they can lower your payment, you'll make the trade.
Good luck!
Lease info: Honda Finance -- $0 down, $0 security, $0 due at signing 36 Mo., 12K, money factor .00053, residual 55%
MSRP: $35,855 Cap: $32,500 (title, acquisition, documentation, first month payment rolled into cap) Payments: $414.72 (including tax)
After talking to a number of San Francisco Bay Area Honda dealers we went with SF Honda. The internet sales department was responsive, price is competitive with other dealers and was not a hassle. We negotiated over the phone and they responded quickly to all of our requests. When we agreed on the model and color we wanted, they had it prepped it and waiting when we arrived. We completed the finance paperwork and drove it away in about 90 minutes.
Can you please tell me what the September money factor and residual value for the 2012 Odyssey Touring on a 12k/15k 36-Month lease for the top credit rating?
Are there any dealer cash in September?
Thanks in advance,
Emil
The residual value for a lease with 12,000 miles per year would be 2% higher.
Honda is currently providing $1,250 dealer cash on this model.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Now to find a good deal on the Touring in So Cal. At the moment the lowest I have is $36,600 (includes destination), with just sending some emails out. I think that I will wait closer to the end of the month, and then really start.
just wanted to run some numbers by you. thanks to your amazing information and my negotiation I have penciled a deal for a Odyssey EX-L at $366/month for 15,000 miles for 36 months with 0 due at signing (True sign and drive) the $366 is including NYS Tax (8.875%) with nothing due at signing other than first month.
What do you think of those numbers?!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The best (true sign and drive) I was able to get anywhere is $444 including sales tax in NJ. Our sales tax is 7% in NJ compared to 8.87% in NY. The MSRP on my car is $35,855 including destination. This is the most basic EX-L they have which includes no NAVI and no RES.
I would love to get the same deal you are getting if it is legitimate. Which dealer did you get this deal from?
Thank you
- Joe
Leased an Odyssey EX-L (no Navi/RES) for $3K down and $300/month for 36 months at 12k/year. $3K includes all taxes/fees and 1st month payment. Only extra is $300 for DMV tag.
Not sure about the deal. Asked couple of other dealers in the area (Princeton,NJ), but no one could match this deal.
The only thing is that the residual value seems a bit high to me.
Down = $3000 (Cap cost reduction = $982, 1st payment = $300, Acq fee = $595, Doc fee = $249, UPF taxes = $866, NJ tire fee = $7.5)
MSRP = $35855
Gross Cap cost = $30299
Total Cap cost = $29247
Residual value = $19003 (53% of MSRP)
Total cost of lease = $32503
Free oil changes and car wash for life. 20cents/mile after 36K miles.
Based on truecar.com,
Avg paid in the are = $32818
Dealer pricing = $32452
Few questions
1. Is the deal good? I am horrible at negotiating, so may not be a great deal, but is it good?
2. The residual value seems a bit high, I was expecting 16-17K. Is the $19K value fair?
3. I was told by the dealer that Honda includes GAP insurance in the lease, but do not see that in the paperwork. Is there a separate form for that?
4. Window etching was not included. Is it a problem if I get it done (I have heard I can get it done at the police station for free)? Does that void any lease agreement?
5. Financing is done through Honda Finance, anyone dealt with them after lease in order to buy the vehicle? How negotiable are they?
Thanks,
Nikhil
I leased the 2012 Odyssey Touring Elite for $615/mth for 36 mos in NJ. Gunmetal metallic and gray leather interior.
Includes:
-12k / year
- Honda 2 yr maintenance (oil change, roadside assist, tire replacement)
Did not ask for any extras (rack, guards, weather mats).
Just curious, how much did you pay for yours? Thanks!
I know I used the True Market Value of the van and we actually negotiated the price lower than cost for the dealership. The only thing stopping me is my trade-in they want to give me wholesale (2010 Outback Premium for $16k) I worked out the terms of the lease to $366/month and at the last minute said i needed to trade in the car (so it wasn't a scam with the pricing)
Dealer is selling the Odyssey EX-L below cost or pretty much at dealer cost from what the sales manager told me, his hope was that i send him more business and become a repeat buyer. Which i will once we come to terms on my trade in the 366/month number stays until we can work out the trade in.
Picked up a 2012 Odyssey Touring (Smoky Topaz ) at Miller Honda in Van Nuys, CA last evening. Did most of the initial shopping online, and sent a few emails around. A few other dealers gave fairly low numbers. Took the lower numbers to Miller, as this is the dealership that I take our existing 2005 Odyssey EX-L to for all the services and repairs. The service department has treated us well. Even though they quoted higher before, they matched the price. They quoted $695 for the Protection Package (wheel locks, splash guards and cargo tray). No way was I going to pay that much. They came back with $376 for it, which I thought was reasonable, considering it would have cost me about $250 buying online, and then installing.
Trim: Touring
MSRP: 42,160
Vehicle Price: $35,772 (includes destination)
Destination: $830
Accessories: $376
Doc Fees: $80
Taxes: $3,169.95 (8.75% in CA)
Tags: $335
Total OTD: $39,759.30
We decided to do a lease, so those numbers below.
Lease info: Honda Finance
Drive Off: 1,000 (includes 1st month payment, registration, doc fee and a couple of small fees).
Term: 36 Months with 12K miles per year
Money Factor: 0.00032
Residual: 50% ($21,080)
MSRP: 42,160
Cap Cost: 36,687.77 (includes the $595 Bank Fee)
Payments: $491.59 (including tax)
Ask if you have any questions.
36 mo. lease, 12k mi per year
$0 sec. deposit
$595 acquisition fee
TTL and service fee TBD
Residual value $16,355
How does this compare to other lease deals on the base LX? I have seen ads for $249 and $279, and the national advertised price of $310.
Scoop it up or keep shopping?
I am negotiating a lease for a 2012 Honda Odyssey EX-L w/res. The finance manager is hell bent on adding a disposition fee to my total cost. I have tried to research and everywhere I have looked I see that this is not something that is charged at the signing. Am I right in assuming that this guy is trying to wrangle some extra dollars. The cost that I have negotiated is 35050 OTD.
Also, can someone tell me what the acquisition feels and the document fees should be for this van.
Thanks
George
Sounds to me like they are trying to add to their profit.
Honda finance charges a $595 acquisition fee on all of their leases.
Just my opinion but I definitely think you can do MUCH better on your negotiated price.
I leased the same vehicle last month and my cap cost was slightly over $32k.
Good luck!
I hope this helps.