2015 Honda Odyssey Lease Questions

truman_r

I definitely recommend very little down or zero down whenever possible but it looks like essentially what they are doing is inflating the sale price with all of these fees they quoted. If you shoot me your zip I can give you the exact Edmunds True Market Value (TMV) - or amount others in your zip are paying for the same car - and you can use that to see how inflated the deal is. Looks like $700 - $800 based on the TMV I got with the Tennessee zip code I ran. Let me know the zip and I can re-run through Leasify.

I'd like to see you press them fees more and if you haven't already then I recommend introducing competition into the process by getting a quote from other dealers. Whenever I shop leases I request a few quotes and also pin manufacturers against one another. For example, negotiate online with Honda dealers over email but also express interest in a competing Toyota model.

ccarter10

I live in 29687 zip.

I have been shopping for the past two weeks very hard...The best monthly came to $447 a month. I threw out the interest in the Sienna which is a crazy deal right now came up to be $357 a month for the same price vehicle and 24months.

How were they able to bring my monthly down but still have the price high? In the long run will this effect me? Is this considered a good deal but not great?

truman_r

OK, if we update for 29687 the price is $957 above Edmunds True Market Value so I would go back and talk to them about that aspect of the deal. This is still a good deal though because the price only $122 above dealer invoice, your money factor is low, and the other aspects of the deal are pretty well optimized.

Just to be sure, the deal I am running is 36 months @ 12K miles/year. Is that what you did? Does the Sienna have comparable options/features for $357 and what is the Sienna for 36 months?

ccarter10

Yes..This is a 36 month lease @ 12k miles/year. Zero Down.

The Sienna does have same comparable options + more. Residual set at 73% which I thought was crazy high.

Would a dealer come down on the price of the vehicle instead of dealer fees? Is there something that is strategic about a dealership doing that?

I read that Honda Finance has an Acquisition fee of $595. But dealer has a doc fee of $599 which is advertised on there website.

What do you think the deal should look like and how much savings?

Thanks!

Michaell

ccarter10 said:

Yes..This is a 36 month lease @ 12k miles/year. Zero Down. The Sienna does have same comparable options + more. Residual set at 73% which I thought was crazy high. Would a dealer come down on the price of the vehicle instead of dealer fees? Is there something that is strategic about a dealership doing that? I read that Honda Finance has an Acquisition fee of $595. But dealer has a doc fee of $599 which is advertised on there website. What do you think the deal should look like and how much savings? Thanks!

Acquisition fee is set by the bank and cannot be negotiated. Doc fee is set by the dealer and you can work to mitigate it by negotiating for a lower selling price. 

ccarter10

So is the Doc fee is the only thing I can talk down at this point? Price of the vehicle seems right, money factor is good..am I missing anything?

What is the rent charge of $683?

Michaell

ccarter10 said:

So is the Doc fee is the only thing I can talk down at this point? Price of the vehicle seems right, money factor is good..am I missing anything?

What is the rent charge of $683?

The dealer will tell you that everybody has to be charged the doc fee .. you can lower the negotiated price you pay to attempt to minimize the hurt from that.

Rent charge is the interest due for the money you are borrowing for the lease.

dsinvirginia

Need MF and Residual for
2015 Odyssey EX-L w/Rear Entertainment
36 months / 10,000 and 12,000
Virginia 23114

Thanks

kyfdx

dsinvirginia said:

Need MF and Residual for
2015 Odyssey EX-L w/Rear Entertainment
36 months / 10,000 and 12,000
Virginia 23114

Thanks

.00044 MF and 54% residual. $1500 lease cash.

In most parts of the country, Honda does not offer a 10K/yr mileage allowance.

dsinvirginia

Is 54% correct?

On July 8, kyfdx posted that the EX-L residual was at 56%. Does the DVD drop the residual that much?

dsinvirginia

And *if* a 10k plan is available in my area, I can assume a 1% change to the residual?

Michaell

dsinvirginia said:

And *if* a 10k plan is available in my area, I can assume a 1% change to the residual?

Yes, adding the RES does drop the residual by 2%.

Yes, add 1% to the 12K residual for 10K miles, if available.

eddeyub

http://legendleasing.com/product/2015-Honda-Odyssey-EX-L

This is leasing dealer in Brooklyn NY. We are planning to lease Odyssey EXL. Spoke with guy on the phone.
$ 329 with $ 0 down for 36 months/10K per year plus tax, bank fee $595, doc and dmv fees $ 239.
Its that a good deal???

kyfdx

eddeyub said:

http://legendleasing.com/product/2015-Honda-Odyssey-EX-L

This is leasing dealer in Brooklyn NY. We are planning to lease Odyssey EXL. Spoke with guy on the phone.
$ 329 with $ 0 down for 36 months/10K per year plus tax, bank fee $595, doc and dmv fees $ 239.
Its that a good deal???

Sure... looks great. Why go through a broker?

eddeyub

Still shopping around. Never made it to Honda dealer. Do you recommend dealer. Sorry never leased before.

katkat

Thanks again for a great forum! I have used it quite a bit over the years...
Now looking for 12K or 15K lease for an Odyssey EX. Money factor and residual for August please.... Thanks!

Michaell

katkat said:

Thanks again for a great forum! I have used it quite a bit over the years...
Now looking for 12K or 15K lease for an Odyssey EX. Money factor and residual for August please.... Thanks!

36/15 numbers for Odyssey EX - 54% and .00044. $1000 lease cash.

katkat

Thanks! What is the residual for EX 36/12K?
Also - regarding the $1000 lease cash: is there any alternative incentive if you pay in cash or is it a true net incentive for lease?

Michaell

katkat said:

Thanks! What is the residual for EX 36/12K?
Also - regarding the $1000 lease cash: is there any alternative incentive if you pay in cash or is it a true net incentive for lease?

Add 2% to the 15K residuals if you only want 12K.

The lease cash is a factory to dealer incentive; the dealer can choose to pass it along to the customer as a cap cost decrease or to offset the up front costs of the lease (bank fee, dealer fee, etc.).

katkat

Thanks. I am still debating cash or lease. Do you know if there is a factory to dealer incentive or rebate that applies to cash?

I am trying to determine if the negotiated price for lease should really be $1000 chaper than paying cash.

Michaell

katkat said:

Thanks. I am still debating cash or lease. Do you know if there is a factory to dealer incentive or rebate that applies to cash?

I am trying to determine if the negotiated price for lease should really be $1000 chaper than paying cash.

Use the "Car Research" tab at the top of the page to link to current customer incentives.

kyfdx

katkat said:

Thanks. I am still debating cash or lease. Do you know if there is a factory to dealer incentive or rebate that applies to cash?

I am trying to determine if the negotiated price for lease should really be $1000 chaper than paying cash.

The incentive is good for finance, cash or lease

bumoftheday

Looking at an EX-L 36/15 lease. Got a quote for 0 out of pocket and $389/month for 35 payments. Any comments on if this is a good deal?

Michaell

bumoftheday said:

Looking at an EX-L 36/15 lease. Got a quote for 0 out of pocket and $389/month for 35 payments. Any comments on if this is a good deal?

Not enough information ... we'll need the selling price (actually, the net cap cost with all taxes and fees rolled in) and the MSRP to fully evaluate.

What state and tax rate is this?

bumoftheday

Michaell said:

bumoftheday said:

Looking at an EX-L 36/15 lease. Got a quote for 0 out of pocket and $389/month for 35 payments. Any comments on if this is a good deal?

Not enough information ... we'll need the selling price (actually, the net cap cost with all taxes and fees rolled in) and the MSRP to fully evaluate.

What state and tax rate is this?

56% residual. $31000 selling price. $595 acquisition fee, $599 dealer fee. $36665 MSRP. State is FL, tax is 6.5%.

kyfdx

bumoftheday said:

Michaell said:

bumoftheday said:

Looking at an EX-L 36/15 lease. Got a quote for 0 out of pocket and $389/month for 35 payments. Any comments on if this is a good deal?

Not enough information ... we'll need the selling price (actually, the net cap cost with all taxes and fees rolled in) and the MSRP to fully evaluate.

What state and tax rate is this?

56% residual. $31000 selling price. $595 acquisition fee, $599 dealer fee. $36665 MSRP. State is FL, tax is 6.5%.

.00034 MF and 54% residual. $1500 lease cash

Adding $1200 in fees to the selling price, I get $362/mo.+tax, which is pretty close to your quote.
Looks like a good deal.

alex801

Hello, what is the current MF and RV for 2015 EX/EX-L for 33458 zip code? TIA

Michaell

alex801 said:

Hello, what is the current MF and RV for 2015 EX/EX-L for 33458 zip code? TIA

.00044 MF and 54% residual for 36/15

EX - $1000 lease cash

EX-L - $1500 lease cash

alex801

Michaell said:

alex801 said:

Hello, what is the current MF and RV for 2015 EX/EX-L for 33458 zip code? TIA

.00044 MF and 54% residual for 36/15

EX - $1000 lease cash

EX-L - $1500 lease cash

Thank you. Can I assume 36/12 residual is 56%?

Michaell

alex801 said:

Michaell said:

alex801 said:

Hello, what is the current MF and RV for 2015 EX/EX-L for 33458 zip code? TIA

.00044 MF and 54% residual for 36/15

EX - $1000 lease cash

EX-L - $1500 lease cash

Thank you. Can I assume 36/12 residual is 56%?

That is correct.

ccarter10

** Update **

Finally went through on the lease for 2015 Honda Odyssey EX-l W/RES

After all said and done..No Money out of pocket, Zero Down and including first payment...$400 a month for 36/12m. I was pretty happy with that.

Michaell

ccarter10 said:

** Update **

Finally went through on the lease for 2015 Honda Odyssey EX-l W/RES

After all said and done..No Money out of pocket, Zero Down and including first payment...$400 a month for 36/12m. I was pretty happy with that.

Congratulations - enjoy your new Odyssey!

anpanmeimei

Hello, what is the current money factor and residual value for the 2015 EX/EX-L? 90606

kyfdx

anpanmeimei said:

Hello, what is the current money factor and residual value for the 2015 EX/EX-L? 90606

.00044 MF and 54% residual for 36mo, 15K/yr.
$1000 lease cash on EX
$1500 lease cash on EX-L

johnscar8

Hello, can you tell me the current MF and RV for 2015 EX/EX-L for zip code 07728?

alex801

Just signed lease in for EX-L in Florida

36/12
MSRP 36655
Selling price 30184
Due at signing $800(cash) + 1314 (trade) = 2114 (Includes all the fees)
Adjusted Cap cost 30184
35 Monthly payments of $310.

Good deal?

alex801

alex801 said:

Just signed lease in for EX-L in Florida

36/12
MSRP 36655
Selling price 30184
Due at signing $800(cash) + 1314 (trade) = 2114 (Includes all the fees)
Adjusted Cap cost 30184
35 Monthly payments of $310.

Good deal?

Michaell

alex801 said:

alex801 said:

Just signed lease in for EX-L in Florida

36/12
MSRP 36655
Selling price 30184
Due at signing $800(cash) + 1314 (trade) = 2114 (Includes all the fees)
Adjusted Cap cost 30184
35 Monthly payments of $310.

Good deal?

Yes, good deal. Enjoy the new Odyssey!

alex801

Michaell said:

alex801 said:

alex801 said:

Just signed lease in for EX-L in Florida

36/12
MSRP 36655
Selling price 30184
Due at signing $800(cash) + 1314 (trade) = 2114 (Includes all the fees)
Adjusted Cap cost 30184
35 Monthly payments of $310.

Good deal?

Yes, good deal. Enjoy the new Odyssey!

Cool, I thought it was a good deal but there are so many numbers on the lease agreement I got a little confused.

Hope these info will help others.

Thanks for your help.

kyfdx

johnscar8 said:

Hello, can you tell me the current MF and RV for 2015 EX/EX-L for zip code 07728?

.00044 MF and 54% residual for 36mo, 15K/yr.

$1000 lease cash on EX
$1500 lease cash on EX-L

tbutt525

Hello, what is the current money factor and residual value for the 2015 EX-L? 93012

kyfdx

tbutt525 said:

Hello, what is the current money factor and residual value for the 2015 EX-L? 93012

.00044 MF and 54% residual for 36mo, 15K/yr. $1500 lease cash

cvangorp

We got a quote and it looks high. We are looking at '15 Touring w/remote start & door edge guards.
MSRP $42,910.00
Price 39,096.53
$0 down - No trade
3yr 15K lease $590/month

kyfdx

cvangorp said:

We got a quote and it looks high. We are looking at '15 Touring w/remote start & door edge guards.
MSRP $42,910.00
Price 39,096.53
$0 down - No trade
3yr 15K lease $590/month

.00044 MF and 49% residual. $1500 lease cash.

$528/mo.+tax, if the CAP cost is the same as the selling price.

gogolf72

Hoping you can help me. Considering leasing a 2015 EXL. MSRP $36655, price $31,500. Trade $6000 Can you please tell me what i should expect to pay for a lease.

Michaell

gogolf72 said:

Hoping you can help me. Considering leasing a 2015 EXL. MSRP $36655, price $31,500. Trade $6000 Can you please tell me what i should expect to pay for a lease.

What lease term and how many miles per year are you looking for?

We do not recommend using trade equity as a down payment on a lease - if the van is stolen or totaled, you lose that money.

gogolf72

Thank you. I obviously didn't think of that. Term and miles don't matter to me because my intention was to keep payments as low as possible and then buyout the vehicle during or at lease end. I have a year left on a loan for another car.

Michaell

gogolf72 said:

Thank you. I obviously didn't think of that. Term and miles don't matter to me because my intention was to keep payments as low as possible and then buyout the vehicle during or at lease end. I have a year left on a loan for another car.

Leasing and then buying is usually more expensive than just buying outright.

f3honda4me

Could someone provide me with the current Money Factor and 12k residual on a 36 month 2015 LX lease? Also are there any incentives or other deals going on right now for 2015 Odysseys? While I'm at it can I also get the MF and residual on an EX and EXL? (for comparison)

The last post I saw that had this info was from July for the 2015 LX and it was .00044, 56% and 1k lease cash. Wasn't sure if that has changed or not.

Also is that lease cash a rebate/incentive? In other words, should I negotiate a price first and THEN ask for the $1000? (sometimes dealerships like to add incentives and act like they are giving you a better price than they really are)

Michaell

f3honda4me said:

Could someone provide me with the current Money Factor and 12k residual on a 36 month 2015 LX lease? Also are there any incentives or other deals going on right now for 2015 Odysseys? While I'm at it can I also get the MF and residual on an EX and EXL? (for comparison)

The last post I saw that had this info was from July for the 2015 LX and it was .00044, 56% and 1k lease cash. Wasn't sure if that has changed or not.

Also is that lease cash a rebate/incentive? In other words, should I negotiate a price first and THEN ask for the $1000? (sometimes dealerships like to add incentives and act like they are giving you a better price than they really are)

.00044 MF for all Odyssey trim levels.

LX, EX and EX-L all have the same residual - 56% for 36/12.

$1000 lease cash on LX and EX; $1500 on EX-L

Yes, negotiate your best price then deduct the lease cash.