2015 Honda Odyssey Lease Questions

Quaker

Is the $1,500 dealer cash also available for a cash purchase or only for a lease? We are looking at a 2015 Touring Elite. Thanks!

kyfdx

Quaker said:

Is the $1,500 dealer cash also available for a cash purchase or only for a lease? We are looking at a 2015 Touring Elite. Thanks!

The dealer cash is good no matter what.

Quaker

I appreciate the information. Thanks!

Quaker

For the Las Vegas, Nevada metro area, I wanted to confirm that the MF and residual for a 36-month lease/12,000 miles per year on a Touring Elite are .00044 and 51%. Also, what are the MF and residual for a 24-month lease/12,000 miles per year on a Touring Elite?

kyfdx

Quaker said:

For the Las Vegas, Nevada metro area, I wanted to confirm that the MF and residual for a 36-month lease/12,000 miles per year on a Touring Elite are .00044 and 51%. Also, what are the MF and residual for a 24-month lease/12,000 miles per year on a Touring Elite?

That's correct.

24/12 residual is 57%

Quaker

Thanks for the quick response! Out of curiosity, what are the MF and residual for a 24-month and 36-month lease/12,000 miles per year on a 2016 Touring Elite? I did not see a 2016 Honda Odyssey discussion which is why I am posting here. Also, are there are any dealer incentives on the 2016 model?

Michaell

Quaker said:

Thanks for the quick response! Out of curiosity, what are the MF and residual for a 24-month and 36-month lease/12,000 miles per year on a 2016 Touring Elite? I did not see a 2016 Honda Odyssey discussion which is why I am posting here. Also, are there are any dealer incentives on the 2016 model?

No lease numbers available yet on the 2016 Odyssey.

Quaker

I have two questions about the $595 acquisition fee. First, is that fee standard across the country for all Honda leases? Second, is it negotiable?

kyfdx

Quaker said:

I have two questions about the $595 acquisition fee. First, is that fee standard across the country for all Honda leases? Second, is it negotiable?

Yes and No.

Acquisition fees are pretty standard on all leases.

Quaker

Thanks, again!

Quaker

I am reviewing 2 leasing options on a 2015 Touring Elite (36 months, 12,000 miles per year) and would appreciate feedback from the moderators:

MSRP: $45,480 Selling Price: $38,751 MF: .00044 Residual: 51%

Option 1: $495.69 per month, $1,698.99 due at signing (includes 1st month's payment, doc and title fee of $528.75, cap reduction of $624.01, and tax on cap reduction of $50.54) I wanted to pay for the acquisition fee of $595 up front but was told it could not be changed in the system which is why there is a cap cost number. Is it customary for the acquisition fee to be rolled into the cap cost?

Option 2: $547.56 per month, $0 due at signing (1st month's payment, doc and title fee of $528.75, and acquisition fee of $595 are added to the total selling price for a total cap cost of $40,422.31)

Michaell

Quaker said:

I am reviewing 2 leasing options on a 2015 Touring Elite (36 months, 12,000 miles per year) and would appreciate feedback from the moderators:

MSRP: $45,480 Selling Price: $38,751 MF: .00044 Residual: 51%

Option 1: $495.69 per month, $1,698.99 due at signing (includes 1st month's payment, doc and title fee of $528.75, cap reduction of $624.01, and tax on cap reduction of $50.54) I wanted to pay for the acquisition fee of $595 up front but was told it could not be changed in the system which is why there is a cap cost number. Is it customary for the acquisition fee to be rolled into the cap cost?

Option 2: $547.56 per month, $0 due at signing (1st month's payment, doc and title fee of $528.75, and acquisition fee of $595 are added to the total selling price for a total cap cost of $40,422.31)

The MF for option two drops to .00034, to account for the fees being added into the lease.

You should have the option of paying the acquisition fee up front.

Quaker

Thank you very much for the feedback! When I change the MF in my spreadsheet for option 2, I get a pre-tax payment of $500.17, post-tax payment of $540.69 (8.1% sales tax). Is the .00034 a special MF from Honda for the scenario I described in option 2? Also, is there any reason why a dealer would want to substitute cap cost for the acquisition fee?

Michaell

Quaker said:

Thank you very much for the feedback! When I change the MF in my spreadsheet for option 2, I get a pre-tax payment of $500.17, post-tax payment of $540.69 (8.1% sales tax). Is the .00034 a special MF from Honda for the scenario I described in option 2? Also, is there any reason why a dealer would want to substitute cap cost for the acquisition fee?

Yes, the .00034 MF is for $0 due at signing leases.

No idea why the dealer would want to do that.

Quaker

Thanks, again, for the feedback. Assuming I get the MF updated on option 2 and have the acquisition fee of $595 substituted for cap cost reduction in option 1 (monthly payment should then be $459.37 pre-tax, $496.58 post-tax), how do you think these deals look? I would be interested in getting your opinion.

Michaell

Quaker said:

Thanks, again, for the feedback. Assuming I get the MF updated on option 2 and have the acquisition fee of $595 substituted for cap cost reduction in option 1 (monthly payment should then be $459.37 pre-tax, $496.58 post-tax), how do you think these deals look? I would be interested in getting your opinion.

They both look good, given that the base MF is being used. Only way to sweeten the deal is to negotiate a lower selling price.

Quaker

Once again, I appreciate the response. Do you have any sense for how much more room they might have to move on the selling price?

kyfdx

Quaker said:

Once again, I appreciate the response. Do you have any sense for how much more room they might have to move on the selling price?

We don't track selling prices.

Quaker

Are the MFs and residuals good through September 7 like the current incentives, or are those changing after today? Please advise. Thanks, again!

kyfdx

Quaker said:

Are the MFs and residuals good through September 7 like the current incentives, or are those changing after today? Please advise. Thanks, again!

Yes... through September 7th.

Quaker

Once again, I appreciate the assistance!

Quaker

I wanted to thank the moderators again for their assistance as well as the contributors to this forum. We did get a Touring Elite yesterday and were able to get the money factor lowered to .00034 on the zero cash at signing option. Final monthly payment was $499.98 + $40.50 (sales tax), or $540.48 for a 36-month lease with 12,000 miles per year. I forgot to mention in my prior post that the final sales price of $38,751 for the vehicle also included wheel locks ($129), window tint ($295), and a 2-year Honda Sentinel maintenance program ($225, I believe). There was no trade-in with our deal. We negotiated with many dealers locally and in several neighboring states via e-mail for several weeks, and this was the best deal overall in our area.

Michaell

Quaker said:

I wanted to thank the moderators again for their assistance as well as the contributors to this forum. We did get a Touring Elite yesterday and were able to get the money factor lowered to .00034 on the zero cash at signing option. Final monthly payment was $499.98 + $40.50 (sales tax), or $540.48 for a 36-month lease with 12,000 miles per year. I forgot to mention in my prior post that the final sales price of $38,751 for the vehicle also included wheel locks ($129), window tint ($295), and a 2-year Honda Sentinel maintenance program ($225, I believe). There was no trade-in with our deal. We negotiated with many dealers locally and in several neighboring states via e-mail for several weeks, and this was the best deal overall in our area.

Congrats - and thanks for checking back in with your final numbers.

Enjoy your new Odyssey!

bobsparrow

MF, Residual and incentives on
a )2015 EX-L...NYC 10465

b)2016 Sport if available also.

Thanks in advance!

gatorcanes

Hi - is the following a good deal on a 2015 Odyssey EX-L? We are in Florida (6% tax):

Residual 56%
MF .00044
MSRP $36,805.00
Selling Price $32,612.45
Acquisition fee $595.00
Adjusted Cap Cost $33,207.45
$1,000.00 cash down
Total monthly payment including tax $396.01
Front End Gross -$1,030.06

I thought it was a little high and am shooting to get the payments to $370.00, tax in, with the same $1,000 out of pocket.

Quaker

I have looked at a Honda Odyssey forum where people post prices paid, and I have recently seen a selling price including destination as low as $29,920.23 for the EX-L. Several other prices were in the $30,579 to $30,819 range.

Michaell

bobsparrow said:

MF, Residual and incentives on
a )2015 EX-L...NYC 10465

b)2016 Sport if available also.

Thanks in advance!

.00044 and 54% for 36/15

Michaell

gatorcanes said:

Hi - is the following a good deal on a 2015 Odyssey EX-L? We are in Florida (6% tax):

Residual 56%
MF .00044
MSRP $36,805.00
Selling Price $32,612.45
Acquisition fee $595.00
Adjusted Cap Cost $33,207.45
$1,000.00 cash down
Total monthly payment including tax $396.01
Front End Gross -$1,030.06

I thought it was a little high and am shooting to get the payments to $370.00, tax in, with the same $1,000 out of pocket.

My calculations are within pennies of your quote. Only way to make it better is to get a lower selling price or put more money down - and we don't recommend option 2.

gatorcanes

Michaell said:

gatorcanes said:

Hi - is the following a good deal on a 2015 Odyssey EX-L? We are in Florida (6% tax):

Residual 56%
MF .00044
MSRP $36,805.00
Selling Price $32,612.45
Acquisition fee $595.00
Adjusted Cap Cost $33,207.45
$1,000.00 cash down
Total monthly payment including tax $396.01
Front End Gross -$1,030.06

I thought it was a little high and am shooting to get the payments to $370.00, tax in, with the same $1,000 out of pocket.

My calculations are within pennies of your quote. Only way to make it better is to get a lower selling price or put more money down - and we don't recommend option 2.

Thanks so much! How much room do you think we have to get the selling price lower and what can we use to support it to the dealer?

Michaell

gatorcanes said:

Michaell said:

gatorcanes said:

Hi - is the following a good deal on a 2015 Odyssey EX-L? We are in Florida (6% tax):

Residual 56%
MF .00044
MSRP $36,805.00
Selling Price $32,612.45
Acquisition fee $595.00
Adjusted Cap Cost $33,207.45
$1,000.00 cash down
Total monthly payment including tax $396.01
Front End Gross -$1,030.06

I thought it was a little high and am shooting to get the payments to $370.00, tax in, with the same $1,000 out of pocket.

My calculations are within pennies of your quote. Only way to make it better is to get a lower selling price or put more money down - and we don't recommend option 2.

Thanks so much! How much room do you think we have to get the selling price lower and what can we use to support it to the dealer?

I don't track selling prices - there is a pretty active Odyssey prices paid discussion here:

http://forums.edmunds.com/discussion/20108/honda/odyssey/2015-honda-odyssey-prices-paid-and-buying-experience#latest

Quaker

gatorcanes said:

Michaell said:

gatorcanes said:

Hi - is the following a good deal on a 2015 Odyssey EX-L? We are in Florida (6% tax):

Residual 56%
MF .00044
MSRP $36,805.00
Selling Price $32,612.45
Acquisition fee $595.00
Adjusted Cap Cost $33,207.45
$1,000.00 cash down
Total monthly payment including tax $396.01
Front End Gross -$1,030.06

I thought it was a little high and am shooting to get the payments to $370.00, tax in, with the same $1,000 out of pocket.

My calculations are within pennies of your quote. Only way to make it better is to get a lower selling price or put more money down - and we don't recommend option 2.

Thanks so much! How much room do you think we have to get the selling price lower and what can we use to support it to the dealer?

I have looked at another Honda Odyssey forum where people post prices paid, and I have recently seen a selling price including destination as low as $29,920.23 for the EX-L. Several other prices were in the $30,579 to $30,819 range.

gogolf72

Hello, do you have the new MF, residual and any incentives on the 2015EXL in RI. Thanks

kyfdx

gogolf72 said:

Hello, do you have the new MF, residual and any incentives on the 2015EXL in RI. Thanks

.00031 MF and 53% residual for 36mo, 15K/yr. $1500 lease cash.

meegwell01

Hi,

I am Leasing a 2015 Odyssey and it was hit while parked in a lot. I am having the repairs done through insurance/etc...normal process...do I have any obligations of notification or otherwise to Honda?

Mike

Michaell

meegwell01 said:

Hi,

I am Leasing a 2015 Odyssey and it was hit while parked in a lot. I am having the repairs done through insurance/etc...normal process...do I have any obligations of notification or otherwise to Honda?

Mike

Nope - one of the advantages of leasing is that if the repair work is competent, you shouldn't have any problems when it comes time to turn it in at the end of a lease.

zhecks

I am looking at a 2015 Odyssey Elite lease 36 months / 12K miles per year.

MSRP: $45850
Sale Price: 38995
MF: 0.0034
Residual: 51%
Lease special: $1500 rebate
Drive off: $0
Monthly payment including tax (9.5%) : 540.50

Are there any hidden charges? Also, I saw someone stating 53% residual and MF 0.0031 (instead of my 51%, 0.0034) for an EXL. I thought all Odysseys share the same MF and residual.

BTW, my dealer told me the lease special was reduced to $750 after the Labor day weekend and wanted to add $20 to my monthly payment. I said no then they honored the original quote. Was the lease cash special reduced or just another way to get another $750 profit.

thanks

Michaell

zhecks said:

I am looking at a 2015 Odyssey Elite lease 36 months / 12K miles per year.

MSRP: $45850
Sale Price: 38995
MF: 0.0034
Residual: 51%
Lease special: $1500 rebate
Drive off: $0
Monthly payment including tax (9.5%) : 540.50

Are there any hidden charges? Also, I saw someone stating 53% residual and MF 0.0031 (instead of my 51%, 0.0034) for an EXL. I thought all Odysseys share the same MF and residual.

BTW, my dealer told me the lease special was reduced to $750 after the Labor day weekend and wanted to add $20 to my monthly payment. I said no then they honored the original quote. Was the lease cash special reduced or just another way to get another $750 profit.

thanks

Using your numbers, I get $498/mo after tax .. find out what the net cap cost is. As this is a $0 due at signing lease (I can tell because the MF of .00034 reflects that), the fees and such are added into the sale price.

gogolf72

Current deal EXL
MSRP $36655
Cap cost $31333
MF .000310
Residual $20160
Trade $2500
Dealer/DMV fee $444
Acq fee $595
Payment $315.67
RI tax 7%

Curious as to whether I'm getting the $1500 lease incentive.

Thank you

kyfdx

gogolf72 said:

Current deal EXL
MSRP $36655
Cap cost $31333
MF .000310
Residual $20160
Trade $2500
Dealer/DMV fee $444
Acq fee $595
Payment $315.67
RI tax 7%

Curious as to whether I'm getting the $1500 lease incentive.

Thank you

The $1500 lease incentive belongs to the dealer. You use your knowledge of it to negotiate the lowest possible selling price.

bakingageorge

Hi there. What is MF and Residual on 2015 Touring and Touring Elite in Southern California (91207). Also, are there any incentives right now? I have them down to Sale price of $36,510 on Touring and $38,840 on Elite. Thanks so much for your help!

Michaell

bakingageorge said:

Hi there. What is MF and Residual on 2015 Touring and Touring Elite in Southern California (91207). Also, are there any incentives right now? I have them down to Sale price of $36,510 on Touring and $38,840 on Elite. Thanks so much for your help!

48% and .00031 for 36/15 on both trims. $1500 lease cash.

bakingageorge

What about for 12k miles?

Michaell

bakingageorge said:

What about for 12k miles?

Add 2% for 12K miles.

bakingageorge

Thanks so much Michaell!

mpsy2k15

Looking to lease 2015 odessey touring. 36months/12000miles. msrp 42910. selling price 36650 includes 595 acusition fee.
monthly 417 +tax = 449 (7.5% tax rate)
drive off :1600 includes 595 acquistion fee;449 first payment(incl tax); regsitration and other fees : 556; residual value 21884; MF 0.00044
Is it a good deal. Also does honda lease has concept of MSD just like BMW. Pls clarify

kyfdx

mpsy2k15 said:

Looking to lease 2015 odessey touring. 36months/12000miles. msrp 42910. selling price 36650 includes 595 acusition fee.
monthly 417 +tax = 449 (7.5% tax rate)
drive off :1600 includes 595 acquistion fee;449 first payment(incl tax); regsitration and other fees : 556; residual value 21884; MF 0.00044
Is it a good deal. Also does honda lease has concept of MSD just like BMW. Pls clarify

I can't get the numbers to match up...

.00031 MF and 50% residual.

Is this deal from last month?

No.. Honda does not have an MSD program.

mpsy2k15

No this is from labor day weekend deal.The residual was 51% and 0.00044 MF. Is this a good one? When i tried to negotiate the dealer said he cannot go further becoz he made a mistake in calculation but will honor it. What do u think? what is the payment with ur calculation

kyfdx

mpsy2k15 said:

No this is from labor day weekend deal.The residual was 51% and 0.00044 MF. Is this a good one? When i tried to negotiate the dealer said he cannot go further becoz he made a mistake in calculation but will honor it. What do u think? what is the payment with ur calculation

The new program came out after Labor Day. That's why the numbers don't match.

With your numbers and the current program, I get $440 +tax

I can see why they won't budge.

ridgeliner2

My local dealer has contacted me about getting into another lease since our 2013 Odessey EXL is coming up in 7 months. Can you provide the MF and Residual for another EXL in Ohio 36/12. I am assuming it would be for 2016 models also right? Since I am in no rush to trade in I am going to come at them hard and want to make sure I have my numbers right before we talk.

Thanks all!

gager44

The dealers seem to not be dealing on their remaining 2015 Odyssey's as much as I expected, and keep referencing 2016 incentives. With that, can we get 36/12 number for Illinois on a 2016 Odyssey Elite and any incentives? Thanks!!