Is this 2014 Honda Odyssey lease offer any good? I'm about to pull the trigger. Help!

djge53djge53 Member Posts: 3
edited August 2014 in Honda

2014 Honda Odyssey EX MSRP is $32,125 (base MSRP).
Selling price is $29,201. Acquisition price of $595 = total cap price of $29,796.
First payment is $30.60. Doc Fee is $399.00. Lic., reg. And title is $12.25. Registration is $563.14. Total inception fee is $1004.99 (total of the foregoing)
Based on the above, the adjusted cap cost is $30,800.99.
$18,454.80 is the residual. The base monthly payment is $365.12. Tax is $28.49. Total monthly payment is $393.61. This is $0 down, 36 month, 12k miles.
I had one dealer tell me they couldn't beat this. Please help out as to whether you think this is a good deal. Thanks so much!

Answers

  • kyfdxkyfdx Moderator Posts: 207,889

    @djge53 said:
    2014 Honda Odyssey EX MSRP is $32,125 (base MSRP).
    Selling price is $29,201. Acquisition price of $595 = total cap price of $29,796.
    First payment is $30.60. Doc Fee is $399.00. Lic., reg. And title is $12.25. Registration is $563.14. Total inception fee is $1004.99 (total of the foregoing)
    Based on the above, the adjusted cap cost is $30,800.99.
    $18,454.80 is the residual. The base monthly payment is $365.12. Tax is $28.49. Total monthly payment is $393.61. This is $0 down, 36 month, 12k miles.
    I had one dealer tell me they couldn't beat this. Please help out as to whether you think this is a good deal. Thanks so much!

    Something seems off... What is the full MSRP of the vehicle? The bottom line on the Monroney sticker. Because $18454.80 doesn't calculate to any full percentage of $32,125 and it's throwing all of the calculations off.

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  • djge53djge53 Member Posts: 3

    Thanks so much for your time in responding. I looked at the dealer site and the MSRP there says $32,955....maybe it's slightly more on the sticker because of tint, etc., but I can e-mail the dealer and try to get the actual sticker if that helps. This dealer actually sent me the Reg-M disclosure, which I cut and pasted below. Any more thoughts based on this?

    This is a Generalized Regulation-M Disclosure. This is NOT A CONTRACT. Some lenders may require additional information to be disclosed on their contracts that may not be disclosed below or that may be disclosed slightly different.
    Automobile: New HONDA ODYSSEY RL5H4EEW 4dr Wgn EX w/AC , Automatic , Odom: 13 , Stock No: EB135181
    Lender: Honda-AHFC Preferred, 12,000, Acq: CAP, Sec: 0,0 Due,Higher MF,Standard Customer
    Amount due at lease signing (itemized below): 0.00
    Total of Payments (The amount you will have paid by the end of the lease): 13,776.35
    Customer State: Arizona Customer County: MARICOPA
    Itemization of Payment
    Agreed Value: 29,201.00
    a) Gross Capital Cost 29,796.00
    b) Inception Fee Deficiency 1,004.99
    c) Adjusted Capital Cost 30,800.99
    d) Residual 18,454.80
    e) Depreciation Charge 12,346.19
    f) Rent Charge 798.13
    g) Total of base MP 13,144.32
    h) Lease Term 36
    i) Base MP 365.12
    j) Monthly Tax 28.49
    k) Personal Prop Tax 0.00
    l) Excise Tax 0.00
    m) Other Amounts 0.00
    n) Total MP 393.61
    Itemization of Gross Capital Cost
    a) Agreed Value: 29,201.00
    b) AcquisitionFee 595.00
    c) GAP Insurance 0.00
    d) Document Fee 0.00
    e) Warranty 0.00
    f) Upfront Sales Tax 0.00
    g) Service Tax 0.00
    h) Cash Down Tax 0.00
    i) Trade In Tax 0.00
    j) Finance Tax 0.00
    k) Tire Tax 0.00
    l) Lic., Insp., Title, Reg. Fees 0.00
    m) Other Fees 0.00
    n) Total Capital Cost 29,796.00
    Itemization of Amount Due at Signing
    a) Inception Fee Deficiency -1,004.99
    -Inception Fee Deficiency -1,004.99
    -Rebates 0.00
    -Trade-In 0.00
    b) Tax on Capital Cost Red. 0.00
    c) First Monthly Payment 30.60
    d) Last Monthly Payment(s) 0.00
    e) Refundable Security Deposit 0.00
    f) Acquisition Fee 0.00
    g) Gap Insurance 0.00
    h) Documentation Fee 399.00
    i) Monthly Tax (Upfront) 0.00
    j) Upfront Tax (not in Capital Cost) 0.00
    k) Service Tax (not in Capital Cost) 0.00
    l) Tire Tax (not in Capital Cost) 0.00
    m) Lic., Insp., Title, Reg. Fees 12.25
    n) Other Fees 563.14
    o) Total Due at Signing 0.00
    How the Amount Due at Signing will be Paid
    a) Net Trade-In Value 0.00
    b) Rebates/Credits 0.00
    c) Amount Paid in Cash -30.60
    d) Total Due at Signing 0.00
    Mileage Allowance
    The monthly payment and residual for this lease has been calculated using the following mileage allowance. You are allowed to drive 12,000 per year, 1,000 miles per month. If you exceed the mileage allowance for the lease term and do not purchase the Vehicle, you will pay 0.20 for each excess mile.
    You have the option to purchase the Vehicle at the end of the lease term for $ 18,454.80, plus any applicable official fees and taxes.

  • kyfdxkyfdx Moderator Posts: 207,889

    @djge53 said:
    Thanks so much for your time in responding. I looked at the dealer site and the MSRP there says $32,955....maybe it's slightly more on the sticker because of tint, etc., but I can e-mail the dealer and try to get the actual sticker if that helps. This dealer actually sent me the Reg-M disclosure, which I cut and pasted below. Any more thoughts based on this?

    This is a Generalized Regulation-M Disclosure. This is NOT A CONTRACT. Some lenders may require additional information to be disclosed on their contracts that may not be disclosed below or that may be disclosed slightly different.
    Automobile: New HONDA ODYSSEY RL5H4EEW 4dr Wgn EX w/AC , Automatic , Odom: 13 , Stock No: EB135181
    Lender: Honda-AHFC Preferred, 12,000, Acq: CAP, Sec: 0,0 Due,Higher MF,Standard Customer
    Amount due at lease signing (itemized below): 0.00
    Total of Payments (The amount you will have paid by the end of the lease): 13,776.35
    Customer State: Arizona Customer County: MARICOPA
    Itemization of Payment
    Agreed Value: 29,201.00
    a) Gross Capital Cost 29,796.00
    b) Inception Fee Deficiency 1,004.99
    c) Adjusted Capital Cost 30,800.99
    d) Residual 18,454.80
    e) Depreciation Charge 12,346.19
    f) Rent Charge 798.13
    g) Total of base MP 13,144.32
    h) Lease Term 36
    i) Base MP 365.12
    j) Monthly Tax 28.49
    k) Personal Prop Tax 0.00
    l) Excise Tax 0.00
    m) Other Amounts 0.00
    n) Total MP 393.61
    Itemization of Gross Capital Cost
    a) Agreed Value: 29,201.00
    b) AcquisitionFee 595.00
    c) GAP Insurance 0.00
    d) Document Fee 0.00
    e) Warranty 0.00
    f) Upfront Sales Tax 0.00
    g) Service Tax 0.00
    h) Cash Down Tax 0.00
    i) Trade In Tax 0.00
    j) Finance Tax 0.00
    k) Tire Tax 0.00
    l) Lic., Insp., Title, Reg. Fees 0.00
    m) Other Fees 0.00
    n) Total Capital Cost 29,796.00
    Itemization of Amount Due at Signing
    a) Inception Fee Deficiency -1,004.99
    -Inception Fee Deficiency -1,004.99
    -Rebates 0.00
    -Trade-In 0.00
    b) Tax on Capital Cost Red. 0.00
    c) First Monthly Payment 30.60
    d) Last Monthly Payment(s) 0.00
    e) Refundable Security Deposit 0.00
    f) Acquisition Fee 0.00
    g) Gap Insurance 0.00
    h) Documentation Fee 399.00
    i) Monthly Tax (Upfront) 0.00
    j) Upfront Tax (not in Capital Cost) 0.00
    k) Service Tax (not in Capital Cost) 0.00
    l) Tire Tax (not in Capital Cost) 0.00
    m) Lic., Insp., Title, Reg. Fees 12.25
    n) Other Fees 563.14
    o) Total Due at Signing 0.00
    How the Amount Due at Signing will be Paid
    a) Net Trade-In Value 0.00
    b) Rebates/Credits 0.00
    c) Amount Paid in Cash -30.60
    d) Total Due at Signing 0.00
    Mileage Allowance
    The monthly payment and residual for this lease has been calculated using the following mileage allowance. You are allowed to drive 12,000 per year, 1,000 miles per month. If you exceed the mileage allowance for the lease term and do not purchase the Vehicle, you will pay 0.20 for each excess mile.
    You have the option to purchase the Vehicle at the end of the lease term for $ 18,454.80, plus any applicable official fees and taxes.

    Okay... the new MSRP number works.. I actually get $370/mo+ tax, instead of $365/mo., but that's close enough... Looks like a very good deal. ZERO due at signing, right? Just 35 payments?

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  • djge53djge53 Member Posts: 3

    Right, zero down at signing and only 35 payments. Thanks again for looking at this; I feel better about it now. Kindest regards.

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