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2013 and earlier-Honda Odyssey Lease Questions
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Comments
Cleveland, Ohio
This was the first offer I received. How much room might I have to negotiate?
Another thing to keep an eye on is the money factor. Dealers cannot lower banks' buy rate lease money factors on vehicles, but they can from time to time mark them up to add additional hidden, back-end profit to deals. Honda Finance's current buy rate for the 2013 Odyssey is .00048 for consumers who qualify for its top credit tier. Make sure that the dealer uses this factor to calculate your vehicle's payment.
The residual value is not negotiable.
Let's work up a sample payment on this van for you and see what we come up with. The 2013 Honda Odyssey EX-L with Navigation has an MSRP of $38,055 and dealer invoice price of $34,858. Let's say that you are able to negotiate a selling price of $500 over invoice minus the available $1,500 dealer cash on this model. According to my calculations, those prices would result in a 36-month, 15,000 mile per year, zero down, pre-tax monthly payment of around $417.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Appreciate the advice!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Neither the residual or money factor was negotiable. Net cap cost is what you can negotiate down.
Hope this is helpful.
Sales price: $30,007
MSRP: $36,055
Lease through Honda
They are using a money factor of .00038 and residual of 53%
Only inception fees up front - $1534(includes $499 doc fee and first month's payment)
Monthly payment including taxes: $331.02
Again, this is for a 36 mo lease, 12,000/yr for EXL (no NAV or Entertainment).
I spoke to another dealer that is pretty competitive, and he said he couldn't match it. He also said he doesn't understand how they come out with such low payments. I calculated them, and they are accurate from my end.
Dealership bought my van! got EX for $336 per month No money down. That's less than my previous payment. Honda Financial Services gave the dealership money for the deal at least according to my paperwork.
I've been quoted for 36 mo/12,000 EX here in Honolulu:
$340.00 base + Tax (16.02/mo) = $356.02 for 35 months.
PLUS $386 Reg., $245 Doc, 11.54 Doc tax ($642.74) out of pocket due on delivery.
Dealer pays first month.
$29,868 Adj Capitalized Cost
$18,286 Residual Value
$13,459 Total Payments by end of lease.
Is this something I should jump on? I have 1 day at most, so any/all quick replies are appreciated.
What am I missing here?
$488 at signing (reg only), $459 + tax per month for 36 months (12,000 miles per).
This is a very-good to great deal, right?
Thanks!
We've previously been against leasing, but this seems like a pretty good deal, and we could always purchase it outright once the lease is up. Appreciate any opinions!
We are getting ready lease a Honda Odyssey EX-L (no options), Southwest Florida, ZIP 33901. Current FL lease offer here is $2,499 down (includes $595 acquisition fee), $329 per month for 36 months, 12k miles/year.
Do you have the lease factors (money factor & residual) for the Odyssey EX-L in my area so I can crunch my own numbers? The deal seems good, but I'd prefer to get away with as little down as possible, and roll it into the monthly lease.
Also, is it known if Honda offers 10k miles/year leases? We don't put that many miles on our cars annually.
THANK YOU!! We hope to sign the paperwork this weekend, so I want to be prepared!
Honda is currently providing a $2,200 cash incentive on leases of this van. Make sure to take it into account when negotiating your capitalized cost.
I'm not sure if Honda Finance offers 10k leases, but if it does its residual value for that allowance would be 1% higher.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I've been reading your post for several years (every 3 years as lease ends) and you have helped tremendously to educate us to get the best deal as possibly...so thank you!!!
I have three quick questions:
Which month in general is the best time to lease? Odyssey?
Honda currently has a lease offer for EXL. In my humble opinion, I don't think it's the best deal but a dealer told me today that's the best he can do. Is this the best deal?
Which website would you recommend for the lease calculator? I've seen few out there but wanted to check with you.
Again, Thank you!
Where do you live?
Down payment?
Montly payment?
Lease time frame?
Thanks in advance.
We took delivery of our 2013 Odyssey EX-L, black with truffle leather (no nav. or rear ent.), from Crown Honda in Pinellas Park, Florida, last Saturday.
We walked out paying only our first month's lease payment: $408.88/mo, 36 months, 12,000 miles/year. Total we'll be paying over entire lease is $14,719.68! Residual value $19,030 (give or take).
I think we came out good on this deal! Any opinions?
What was your MSRP? What is your state's sales tax rate?
We don't know the state's lease tax method, the capitalized cost, etc., etc.
A quick look at weymouth's calculator shows a base payment (sans tax) of $335 with <700 inception (includes first month).
Florida sales tax is 6.0% on every monthly payment. So my monthly payments are $385.74 plus tax, for a total of $408.88/mo. And I walked out paying only this, nothing else up front. I think the lease money factor in our area is 0.00048 (it's in a previous reply from CarMan).
Thanks in advance!
If you're in an area that has a decent level of competition, you should be able to get a '13 Odyssey for a couple hundred dollars over dealer invoice minus the $1,700 dealer cash that is currently available on the EX-L. If you were able to get a price like that, you should be able to beat the advertised deal.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The numbers for an otherwise identical lease of a '13 Odyssey Touring are .00048 and 50%.
There is $1,700 dealer cash on both of those models.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
do you know if there was any flexcash in the deal?
I spoke with a number of dealers in my area, but this is the deal we ended up with today on a 2013 EX-L stock - no nav or any additions apart from the splash guards and nitrogen and wheel locks. I made the dealer remove the other accessories they had added including the moonroof visor and upgraded mats and the rear tray.
We ended up doing a deal today and came home with a Polished Metallic EX-L.
36 month lease with the first month paid/15K miles a year with 0 down.
Factor: 0.00048
Price of the car $31,412.50
Out the door total: $31,999.43
Residual: $18,337.05
Monthly Payment $415.78 including tax @ 3%
$1000 flexcash involved to.
Did l do good? I think l may have been able to get them down further but my local dealer wanted $37K for the same car, and the lease was over $550 a month.
I hope this helps anyone else out there for comparison purposes, l'm in NC.