2014 Honda Odyssey Lease Questions

Kirstie_H

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jawynn

I am wondering the same, as I am trying to negotiate my 4th consecutive Honda lease (Accord/Odyssey/Odyssey/Odyssey)

I have received the following sale prices from my dealer and am wondering what a good lease deal would be. I am hoping to stay as close to $300 as possible. I will put $0 down and only pay 1st mo/license at signing. (36mo/12k)

2014 Odyssey EX $29,165 (lease quoted at $387/mo)

brooklyn86

Hi - I just got a quote for a 36mo/12k lease on a Honda Odyssey EX with nothing down (all fees, taxes, registration rolled into cap cost) for $365/mo. I only pay 1st month payment at signing. It feels like a fair deal, but I have the following questions for the community.

1. It looks like there were quite a few incentives on EXLs and other trims in the summer. (I've read all the posts.) Is it true that these cash incentives are no longer available?

2. Should I wait for these rebates to resurface next year?

Thanks everyone.

ucsdjosh

hi. Im new to this forum. Can someone tell me the November money factor and residuals for both the EX and EX-L on a 36 month 12k/yr lease?
Also has anybody ever used a car buying service like truecar to secure a negotiated cap cost and use that number for the lease? If you are doing your own negotiations with internet sales via email or phone should you disclose to them that you may be leasing instead of buying - or will they treat you differently?
Looking to lease in the next couple of weeks so any help would be appreciated. thanks!

df5ctrd

Are $329/month + $3K down or $406/month + $0 down a good deal for a 36 month, 12K miles/year lease on a 2014 Honda Odyssey EX-L (no RES, no NAV)? These figures are before-tax. What have others been seeing or paying?

juanduro

Can someone tell me the November money factor and residuals for both the EX-L Res, Touring and Elite on a 36 month 12k/yr lease? PLEASE!

My dealer is taking me out my 2012 touring with nothing out of pocket (just the plate transfer fees) to a new touring for $541+tax or leite for $569+tax i currently pay $575 and need 4 new tires, brakes and maintenance...

kyfdx

2014 Odyssey EX-L RES 36mo, 12K/yr lease
.00055 MF and 54% residual

EX-L NAV residual is 52%
Touring and Touring Elite residuals are 51%

regards,
kyfdx

zgcorbin

Hi,

Any recommendations on leasing a Touring Elite? My wife currently has a 2011 with less than 15,000 miles. I owe about $10k on it and believe it is worth around $30k. I'm considering selling it and taking the cash out and putting my wife in a new lease since she drives so little. My biggest concern is that it appears the RV sucks for the TE.

Also, does anyone know the 36/10k RV and MF for Texas for the vehicle? I'm open to all thoughts and suggestions.

kyfdx

2014 Touring Elite 36mo, 12K/yr lease
.00055 MF and 51% residual

I don't think Honda offers a 10K/yr lease

regards,
kyfdx

zgcorbin

Thanks!

ilikecars4

This seems like a very good deal. It is better not to put any money down though because if the car is stolen or wrecked you cannot recoup that money pay the 400 per month instead. Additionally, Honda no Longer offers a real damage waiver and now has a disposition fee at lease end. Currently Toyota sienna XLE even with Navigation can be 25-forty dollars cheaper per month. Toyota also has an available damage waiver (up to 5000 dollars) for an additional 10-12 dollars per month Honda waiver is now 500 dollars damage limit.
I would not recommend it as a 1/3rd of the people that get it have issues ,but if willing to take a risk you can get a fully loaded Chrysler for 2 -3 year lease at about 75-100 dollars less per month then the Odyssey or sienna after tax.

drivingmama

What is the current residual for the Touring Elite for a 36 month lease with 15k miles?

kwarengi

Hello kyfdx and Michaell,

What are December money factor and residual value for 2014 Odyssey EX with 15k mi in LA?
Are we looking at about $400 per month with drive off only, no money down, on negotiated price, or less?
And how much over/below invoice will do now, by year end?

Thank you in advance.

kmqtoledo

Car Man,

Looking for MF and Residual for 36 and 48 months in Ohio, 15,000 per year for EXL w/RES.

Thanks!

kyfdx

2014 Touring Elite 36mo, 15K/yr lease
49% residual

regards,
kyfdx

kyfdx

2014 Odyssey EX 36mo, 15K/yr lease
.00055 MF and 54% residual

regards,
kyfdx

kyfdx

2014 EX-L RES 36mo, 15K/yr lease
.00055 MF and 52% residual

The 48 month residual is 44%, but I don't have the money factor for that term. It is likely to be much higher than the 36 month money factor.

regards,
kyfdx

sparkadv

The money factor is 0.00185 for the 48 month lease. Found it here.
http://www.freedomhonda.net/frame/leaseCalculator/

susang65

Apologies for my lack of knowledge. This is my first time leasing (attempting to, anyway). What is the money factor for a 2014 Odyssey LX, 36 months, 15,000 miles, in Ohio? And the residual? And these numbers -- these are negotiable and what I should expect to get from a dealer?

kyfdx

@susang65 said:
Apologies for my lack of knowledge. This is my first time leasing (attempting to, anyway). What is the money factor for a 2014 Odyssey LX, 36 months, 15,000 miles, in Ohio? And the residual? And these numbers -- these are negotiable and what I should expect to get from a dealer?

.00055 MF and 54% residual.

The residual is set by the bank, and is not negotiable. It can vary by term, mileage allowance and model, so if you change any of those parameters, the residual is likely to change, as well.

The money factor given is the base rate (aka buy rate) for top tier credit. In my experience, very few Honda dealers will mark up this rate. If they do (or are allowed), then that markup would be negotiable, provided you know about it. Dealerships are under no requirement to divulge the money factor, though I wouldn't deal with a dealer that wouldn't tell me.

In Ohio, you can expect a $250 doc fee, and registration/title fees and sales tax... that's about it.

What you negotiate? The selling price of the vehicle, plus practice saying no to anything that costs extra... ;-)

susang65

Thanks for the great information. I have run into a situation that I can't understand. I received two, 3-year lease quotes from two dealers in the Cleveland area. Money factor/residual are the same, both zero down, both 15,000 miles. Dealer 1 offers $27,574 cap cost with $345 monthly payment. Dealer 2 offers $26,500 cap cost with $375 monthly payment. Doesn't make sense! Higher cap cost, lower monthly payment? Each of the dealers suggested the other one was hiding something (fees, etc.). Am I missing something?

kyfdx

Well... something is missing, it's just hard to say what it is..

"Oh... you wanted the EX?" "Oh, you didn't want the extended warranty and mop 'n glo?"

"Oh.. NET cap cost? You mean with everything included?"

And on, and on, and on....

1st_time_lease

Hi,

Could you please post the January/February lease rates and residual for a 2014 Odyssey Touring Elite 36 months 15K in Northern CA.

Thank you

kyfdx

@1st_time_lease said:
Hi,

Could you please post the January/February lease rates and residual for a 2014 Odyssey Touring Elite 36 months 15K in Northern CA.

Thank you

.00055 MF and 49% residual

tomatored

Hi everyone,

First time posting here..
Just been to Beuna Park Honda in Beuna Park, CA
Possibly the worst customer service I've ever experienced anywhere.

On arriving, two sales people were waiting outside but none would deal with me, they had an argument over who would be taking care of me, neither of them wanted to, until one of them walked off. I felt very insulted to say the least, and on asking jokingly that I felt as if they didn't need my sale, the sales person tells me, "oh sales people are very choosy about who they deal with".
Well, I persevered as I really need a minivan right now and the $0 down, $330/month offer was very tempting. Besides, things could only go uphill from here.

I was offered $330/month for the base LX model as per the Honda offering, no negotiations. Full stop. He wouldn't even go down a single dollar.
In the end, I walked out, since I was sure I could get a better deal.
One last parting shot from the sales person was, "Oh, I knew this was going to happen".

So two questions, since this will be my first time leasing, is this usually how it works? If there is a national special going on, the dealers dont go any lower? Or give you an upper class trim model for the same price, like an EX? I mean, anything? I would expect the dealerships to do one better, otherwise what's differentiating them from other Honda dealerships?
Secondly, is this how dealerships usually deal with new customers? No negotiations? Just take it as it is or get out?

Any advice will be greatly appreciated.
Thank you. and sorry for the slight rant, I had to get it off my chest.

Michaell

@tomatored said:
So two questions, since this will be my first time leasing, is this usually how it works? If there is a national special going on, the dealers dont go any lower? Or give you an upper class trim model for the same price, like an EX? I mean, anything? I would expect the dealerships to do one better, otherwise what's differentiating them from other Honda dealerships?
Secondly, is this how dealerships usually deal with new customers? No negotiations? Just take it as it is or get out?

Any advice will be greatly appreciated.
Thank you. and sorry for the slight rant, I had to get it off my chest.

Sorry you had such a poor experience - you would think that in this internet age bad customer service would be a thing of the past. Apparently not.

Fortunately, you live in SoCal, where there is seemingly a Honda dealership on every other block. So, lots of dealerships for you to work with.

The national lease specials are generally ok deals, but with some research and determination, you should be able to do better. Negotiate the selling price. Make sure that the money factor isn't being jacked up by the dealer. Check for hidden fees.

And, work via email ... no reason for you to go to the dealership and negotiate directly. Others here will chime in with similar advice.

Best of luck, and keep us informed as to how things go.

tomatored

Hey Micheall, thanks for the helpful advice.

Just leased a 2014 Odyssey EX last night from Fladeboe Honda, 365 monthly, taxes included with 1000 down and another 250 dollars in a gift card.

Happy with what I got, we had to really squeeze them for this. A lot of going back and forth, finally arrived at that figure. Took us nearly 4 hours to get it done. Another plus was that they dealt with us as new customers and once the deal had been finalized over the lease, then they turned their attention towards the trade in. A really nice change from what other dealers were doing, basically showing us good money for the trade in but then nailing us on the lease for that.

Also, gave us approx 2000 more for our trade in then what other dealerships had offered. Though 300 less than what a friend was offering. Anyway, less hassle this way.
Though now I come to think of it, I could've gotten them to take a little bit more off but ah well, you can't have everything in life. Overall really happy with the deal.

Let me know what you guys think.

tarag23

Hi all,

I'm in the market for an EXL- with RES and have received a few quotes from local dealers in NJ. So far what I have got is the following two quotes. - EX-L Res 2014 Odyssey with $0 down - for 12K miles 36 month lease - the payment would be $455 per month. - EX-L with RES Zero down 12/36- $452

I read a lot of the 2013 lease forum and it seemed that people were getting way better deals last year. I have done all communication with dealers thru email.

If anyone can give me some feedback on this and let me know what would be considered a good deal for that car/trim level.

Any information would be helpful.

Michaell

@tomatored said:
Hey Micheall, thanks for the helpful advice.

Just leased a 2014 Odyssey EX last night from Fladeboe Honda, 365 monthly, taxes included with 1000 down and another 250 dollars in a gift card.

Happy with what I got, we had to really squeeze them for this. A lot of going back and forth, finally arrived at that figure. Took us nearly 4 hours to get it done. Another plus was that they dealt with us as new customers and once the deal had been finalized over the lease, then they turned their attention towards the trade in. A really nice change from what other dealers were doing, basically showing us good money for the trade in but then nailing us on the lease for that.

Also, gave us approx 2000 more for our trade in then what other dealerships had offered. Though 300 less than what a friend was offering. Anyway, less hassle this way.
Though now I come to think of it, I could've gotten them to take a little bit more off but ah well, you can't have everything in life. Overall really happy with the deal.

Let me know what you guys think.

If you're happy with the deal, that's all that matters. Could you have done better? I'm sure some here will tell you yes. Doesn't matter now.

Enjoy your new Odyssey!

allnew3

What is the MF and Residual for an EX-L (no RES or Nav) in NJ? Would you anticipate rate changing up or down for March since lease is due March 3rd?

kyfdx

@allnew3 said:
What is the MF and Residual for an EX-L (no RES or Nav) in NJ? Would you anticipate rate changing up or down for March since lease is due March 3rd?

.00055 MF and 54% for 36mo, 15K/yr. $1500 cash on that model.

Those rates are good through March 3rd.

tarag23

kyfd: Where did you read that there is $1500 cash on the EX-L? I dont see that under the promotions section on honda.com. I am in the market for the exl with res

kyfdx

@tarag23 said:
kyfd: Where did you read that there is $1500 cash on the EX-L? I dont see that under the promotions section on honda.com. I am in the market for the exl with res

It's not advertised.. it's Honda to dealer cash.

waddah0a

What is the RV and MF for EX-L with RES and Elite touring, Both 12k/36mo? I am not familiar with why is March 3rd the date everyone takes about?

kyfdx

@waddah0a said:
What is the RV and MF for EX-L with RES and Elite touring, Both 12k/36mo? I am not familiar with why is March 3rd the date everyone takes about?

The MF is .00055 and the residuals are 54%/51% respectively.

The current lease program runs through Monday, March 3rd.

mattsam1

@kyfdx@Edmunds said:
The current lease program runs through Monday, March 3rd.

To confirm, because I can't find it:
2014 Feb deal on EX-L with RES is .00055 MF 54% residual AND $1500 Honda to dealer cash?? Ending on March 3rd?
What are people negotiating the EX-L Res down to?
Thanks, looks like I'll be leasing today

kyfdx

For 36mo, 12K/yr... yes

sparty511

I was wondering what the money factor and residual value for a 3 year lease at 15,000 miles in Mentor, Ohio for a 2014 Touring and Touring Elite. Also, I know they program is changing tomorrow so if you can also put the new program rates I would appreciate it. I went in earlier this past week because of an offer to buy back my current 2012 lease early. The dealership came back with an offer that I thought was completely unreasonable at 604/month (for 2014 touring) with no money down and supposedly no negative equity in the trade in. That is about 50$ more a month then I currently pay (and because my normal sales man is out on leave and I told this guy I don't want to play games) so we walked out. I wanted to get some more info before going back in - any help is greatly appreciated. I want to get this offer as low as I can if I am considering to upgrade

kyfdx

@sparty511 said:
I was wondering what the money factor and residual value for a 3 year lease at 15,000 miles in Mentor, Ohio for a 2014 Touring and Touring Elite. Also, I know they program is changing tomorrow so if you can also put the new program rates I would appreciate it. I went in earlier this past week because of an offer to buy back my current 2012 lease early. The dealership came back with an offer that I thought was completely unreasonable at 604/month (for 2014 touring) with no money down and supposedly no negative equity in the trade in. That is about 50$ more a month then I currently pay (and because my normal sales man is out on leave and I told this guy I don't want to play games) so we walked out. I wanted to get some more info before going back in - any help is greatly appreciated. I want to get this offer as low as I can if I am considering to upgrade

.00055 MF and 49% residual. $1500 lease cash.

The current program is in effect through Monday. The new program doesn't start until Tuesday, March 4th, and it will be later in the week, before we know the details

zoe55

Any news on the new incentives and lease terms? What's the residual and money factor for 2014 Touring Elite?

kyfdx

@zoe55 said:
Any news on the new incentives and lease terms? What's the residual and money factor for 2014 Touring Elite?

.00055 MF and 49% residual for 36mo, 15K/yr.

zoe55

@kyfdx@Edmunds said:
.00055 MF and 49% residual for 36mo, 15K/yr.

Could you reconfirm that this is the one valid starting today (3/4) till 4/3? I got a quote from several dealers, they said the MF right now is 0.001xx (double). And any other incentive ($ cashback)?

kyfdx

@zoe55 said:

What state do you live in? $1500 cash on the Elite

zoe55

CA - Norcal to be exact.

kyfdx

@zoe55 said:
CA - Norcal to be exact.

It appears that only Southern California is in a region that gets the special money factor. Hard to believe, I know. For what it's worth, Honda dealers rarely mark up money factors.

h22a1

What is the money factor in western Washington? I was quoted a different MF.

kyfdx

@h22a1 said:
What is the money factor in western Washington? I was quoted a different MF.

The chart I have doesn't show the money factor for Area B states (of which Washington is one), but it's not the low money factor (.00055)

h22a1

Was the MF .00055 for western WA last month? Thanks!!! Is the MF specific to where the dealership is or where the car is registered? Say if I bought the car from a state that has the .00055 MF and brought it back.

kyfdx

@h22a1 said:
Was the MF .00055 for western WA last month? Thanks!!! Is the MF specific to where the dealership is or where the car is registered? Say if I bought the car from a state that has the .00055 MF and brought it back.

With Honda, it matters where you reside and register the car. I live near a state line, and on some of the deals, the ads specifically say, "Ohio residents only" (for example).

For some promotions, Honda divides the country into A or B regions, and as far as I can tell, Washington is always in the B region (that isn't getting the deal). Last month, the Odyssey deal was nationwide, and not split between regions.

dhalloran

Any way to confirm that there's .00055 MF and $1500 dealer cash on the Touring Elite in Southern California? One dealer said there is no dealer cash on the Elite, and the price quotes I'm seeing don't reflect it. Is there a link somewhere I could point to or something? Thanks!

kyfdx

I'm sorry... that's correct... It's EX-L and higher trims (excluding Touring Elite) for $1500

It's $1000 for EX and LX trims

.00055 MF is correct