2016 Honda Odyssey Lease Questions

kyfdx

padoo said:

what are the nos for touring 12K/36 CA?

.00049 MF and 52% residual. $1250 lease cash.

padoo

Thanks

tweet6586

I'm planning to use the equity in my current vehicle to prepay for a 33 month 15k year one pay lease for a 2016 Odyssey EX-L. I can save about $800 in tax by doing this. The residual at 33 months is 57%, if I go 36 months it drops to 55%. Dealer has been pretty good about pointing our the residuals and directing me to the 33 month lease. The issue I am having is money factor, dealer is telling me it is similar to a sign and drive at .00041. Does anyone have a money factor for a one pay lease for Honda? I thought it was very small, like .00011.

kyfdx

tweet6586 said:

I'm planning to use the equity in my current vehicle to prepay for a 33 month 15k year one pay lease for a 2016 Odyssey EX-L. I can save about $800 in tax by doing this. The residual at 33 months is 57%, if I go 36 months it drops to 55%. Dealer has been pretty good about pointing our the residuals and directing me to the 33 month lease. The issue I am having is money factor, dealer is telling me it is similar to a sign and drive at .00041. Does anyone have a money factor for a one pay lease for Honda? I thought it was very small, like .00011.

.00049 MF and $1250 lease cash.

.00039 MF on the sign and drive lease.

One-pay money factor should be .00001. Not sure how you save that much on tax, though.
Also, not sure that 33 months will be cheaper.

inigo85719

Hi All,
New to the forum and have a newbie question...Received a quote today for a 16 EX-L RES for $429 OTD with no money down, 36 months, and 12,000 miles.

Seems that to get an accurate answer on whether or not it's a good deal I need to provide some additional information. I think its MSRP, Adjusted cap cost, residual value, factor and sales tax (PA)...any other information I need to post here to see if I was quoted a good deal?

Thanks!

Michaell

inigo85719 said:

Hi All,
New to the forum and have a newbie question...Received a quote today for a 16 EX-L RES for $429 OTD with no money down, 36 months, and 12,000 miles.

Seems that to get an accurate answer on whether or not it's a good deal I need to provide some additional information. I think its MSRP, Adjusted cap cost, residual value, factor and sales tax (PA)...any other information I need to post here to see if I was quoted a good deal?

Thanks!

36/12 lease numbers on the EX-L RES are 55% and .00049. $1250 lease cash.

Yes, we'll need the MSRP and adjusted cap cost in order to figure the payment. I believe the lease sales tax in PA is 9% (10% in Pittsburgh).

inigo85719

Michaell said:

inigo85719 said:

Hi All,
New to the forum and have a newbie question...Received a quote today for a 16 EX-L RES for $429 OTD with no money down, 36 months, and 12,000 miles.

Seems that to get an accurate answer on whether or not it's a good deal I need to provide some additional information. I think its MSRP, Adjusted cap cost, residual value, factor and sales tax (PA)...any other information I need to post here to see if I was quoted a good deal?

Thanks!

36/12 lease numbers on the EX-L RES are 55% and .00049. $1250 lease cash.

Yes, we'll need the MSRP and adjusted cap cost in order to figure the payment. I believe the lease sales tax in PA is 9% (10% in Pittsburgh).

Will this info suffice...16 EX-L RES , 36 months, and 12,000 miles. MSRP $33,797, Residual $21,202.50, Factor .00049, no money down, $699(inseption $429+registration) due at signing, 429/month, no money down. I'm unsure what the cap cost is, but I can ask for that info if needed. Tax is 9%

Michaell

inigo85719 said:

Michaell said:

inigo85719 said:

Hi All,
New to the forum and have a newbie question...Received a quote today for a 16 EX-L RES for $429 OTD with no money down, 36 months, and 12,000 miles.

Seems that to get an accurate answer on whether or not it's a good deal I need to provide some additional information. I think its MSRP, Adjusted cap cost, residual value, factor and sales tax (PA)...any other information I need to post here to see if I was quoted a good deal?

Thanks!

36/12 lease numbers on the EX-L RES are 55% and .00049. $1250 lease cash.

Yes, we'll need the MSRP and adjusted cap cost in order to figure the payment. I believe the lease sales tax in PA is 9% (10% in Pittsburgh).

Will this info suffice...16 EX-L RES , 36 months, and 12,000 miles. MSRP $33,797, Residual $21,202.50, Factor .00049, no money down, $699(inseption $429+registration) due at signing, 429/month, no money down. I'm unsure what the cap cost is, but I can ask for that info if needed. Tax is 9%

Can't run the numbers without the cap cost.

inigo85719

36/12 lease numbers on the EX-L RES are 55% and .00049. $1250 lease cash.

Yes, we'll need the MSRP and adjusted cap cost in order to figure the payment. I believe the lease sales tax in PA is 9% (10% in Pittsburgh).

Will this info suffice...16 EX-L RES , 36 months, and 12,000 miles. MSRP $33,797, Residual $21,202.50, Factor .00049, no money down, $699(inseption $429+registration) due at signing, 429/month, no money down. I'm unsure what the cap cost is, but I can ask for that info if needed. Tax is 9%

Can't run the numbers without the cap cost.

Ok, just got it from the guys, Cap Cost is 34392 (he said MSRP + a 595 bank fee)...seem right?

Michaell

inigo85719 said:

36/12 lease numbers on the EX-L RES are 55% and .00049. $1250 lease cash. Yes, we'll need the MSRP and adjusted cap cost in order to figure the payment. I believe the lease sales tax in PA is 9% (10% in Pittsburgh).

Will this info suffice...16 EX-L RES , 36 months, and 12,000 miles. MSRP $33,797, Residual $21,202.50, Factor .00049, no money down, $699(inseption $429+registration) due at signing, 429/month, no money down. I'm unsure what the cap cost is, but I can ask for that info if needed. Tax is 9% Can't run the numbers without the cap cost. Ok, just got it from the guys, Cap Cost is 34392 (he said MSRP + a 595 bank fee)...seem right?  

Tou should be able to negotiate a discount from sticker. 

inigo85719

Meaning discount vs' cap or just general against the msrp? what would a good number to shoot for?

Michaell

inigo85719 said:

Meaning discount vs' cap or just general against the msrp? what would a good number to shoot for?

General against the MSRP. 

We we don't track prices. Use the make / model / year pull downs at the top of the page to link to the price tools. 

inigo85719

ok...thank you for your help!!!

pharmb

I brought home an 2016 EX-L, using the information I got here.
MSRP $36,050
Sale price $31,188.
12k/36mo
460 first month incl 99 doc fee
Final Payment $356 tax included (332+24)
A Big thank you to this forum.

Michaell

pharmb said:

I brought home an 2016 EX-L, using the information I got here.
MSRP $36,050
Sale price $31,188.
12k/36mo
460 first month incl 99 doc fee
Final Payment $356 tax included (332+24)
A Big thank you to this forum.

Congrats! Enjoy the new Odyssey!

Looks like a solid deal.

inigo85719

Nice Pharmb!  Is that the EX-L with the rear entertainment?...I can't get anyone in my immediate area less than 

• MSRP $33,797
• Cap 34392
• Residual $21,202.50
• 0.00049 factor
• 12k/36mo
• 699 first month(429+269docs and reg fees)
• finl payment 429 (9% tax)

What am I missing?

Michaell

inigo85719 said:

Nice Pharmb!  Is that the EX-L with the rear entertainment?...I can't get anyone in my immediate area less than 

• MSRP $33,797
• Cap 34392
• Residual $21,202.50
• 0.00049 factor
• 12k/36mo
• 699 first month(429+269docs and reg fees)
• finl payment 429 (9% tax)

What am I missing?

Why is the cap higher than the MSRP? What state is this?

inigo85719

Michaell said:

inigo85719 said:

Nice Pharmb!  Is that the EX-L with the rear entertainment?...I can't get anyone in my immediate area less than 

• MSRP $33,797
• Cap 34392
• Residual $21,202.50
• 0.00049 factor
• 12k/36mo
• 699 first month(429+269docs and reg fees)
• finl payment 429 (9% tax)

What am I missing?

Why is the cap higher than the MSRP? What state is this?

My bad:
•MSRP $38,550
•Price $33,797
•Cap 34392
•Residual $21,202.50
•0.00049 factor
•12k/36mo
•699 first month(429+269docs and reg fees)
•final payment 429 (9% tax)

Michaell

inigo85719 said:

Michaell said:

inigo85719 said:

Nice Pharmb!  Is that the EX-L with the rear entertainment?...I can't get anyone in my immediate area less than 

• MSRP $33,797
• Cap 34392
• Residual $21,202.50
• 0.00049 factor
• 12k/36mo
• 699 first month(429+269docs and reg fees)
• finl payment 429 (9% tax)

What am I missing?

Why is the cap higher than the MSRP? What state is this?

My bad:
•MSRP $38,550
•Price $33,797
•Cap 34392
•Residual $21,202.50
•0.00049 factor
•12k/36mo
•699 first month(429+269docs and reg fees)
•final payment 429 (9% tax)

Your calculations are correct.

seveniron

pharmb said:

I brought home an 2016 EX-L, using the information I got here.
MSRP $36,050
Sale price $31,188.
12k/36mo
460 first month incl 99 doc fee
Final Payment $356 tax included (332+24)
A Big thank you to this forum.

That's impressive - congrats - now, I'm on the market for an EX-L myself - can you tell me how and where did you get this price ?
I live in Fort Lauderdale, FL and I'm getting ready to start shopping around because I need the car in mid-march .

Thank you in advance,
Dan

zoobearz

I took am in the process of leasing a car in the Chicagoland area and trying to get the rate of 356 (tax included) for 36 months with no down (12K miles per year). Lets see where I land, but a dealer told me that they are seeing a lot of people wanting to lease the odyssey vs. buy, partly because the shape is changing for 2017....

zoobearz

Chicago market -

2016 Odyssey EX-L
MSRP - 36,950
Your Sale Price - 31,755
Cap Cost - 34,125.30
Residual - 21,061.50 (57%)
Money Factor - .00049 - Super Preferred Term - Must qualify

2016 Honda Odyssey EX-L (No navi or Ent system)
12,000 miles
36 month lease
$0 due at signing
390/mo
With Approved Credit

What do you guys think?

kyfdx

zoobearz said:

Chicago market -

2016 Odyssey EX-L
MSRP - 36,950
Your Sale Price - 31,755
Cap Cost - 34,125.30
Residual - 21,061.50 (57%)
Money Factor - .00049 - Super Preferred Term - Must qualify

2016 Honda Odyssey EX-L (No navi or Ent system)
12,000 miles
36 month lease
$0 due at signing
390/mo
With Approved Credit

What do you guys think?

The calculations and lease variables are correct. What makes up the $2400 difference between the selling price and the CAP cost?

pharmb

inigo85719 said:

Nice Pharmb!  Is that the EX-L with the rear entertainment?...I can't get anyone in my immediate area less than 

• MSRP $33,797
• Cap 34392
• Residual $21,202.50
• 0.00049 factor
• 12k/36mo
• 699 first month(429+269docs and reg fees)
• finl payment 429 (9% tax)

What am I missing?

Why is the cap higher than the MSRP? What state is this?

My bad: •MSRP $38,550 •Price $33,797 •Cap 34392 •Residual $21,202.50 •0.00049 factor •12k/36mo •699 first month(429+269docs and reg fees) •final payment 429 (9% tax)

inigo85719 said:

Nice Pharmb!  Is that the EX-L with the rear entertainment?...I can't get anyone in my immediate area less than 

• MSRP $33,797
• Cap 34392
• Residual $21,202.50
• 0.00049 factor
• 12k/36mo
• 699 first month(429+269docs and reg fees)
• finl payment 429 (9% tax)

What am I missing?

Why is the cap higher than the MSRP? What state is this?

My bad: •MSRP $38,550 •Price $33,797 •Cap 34392 •Residual $21,202.50 •0.00049 factor •12k/36mo •699 first month(429+269docs and reg fees) •final payment 429 (9% tax)

What's the difference between the cap and the sale price? We're at 7% here in Nebraska so that could be part of it too? No rear entertainment in mine. iPads were cheaper. 

pharmb

seveniron said:

I brought home an 2016 EX-L, using the information I got here. MSRP $36,050 Sale price $31,188. 12k/36mo 460 first month incl 99 doc fee Final Payment $356 tax included (332+24) A Big thank you to this forum.

That's impressive - congrats - now, I'm on the market for an EX-L myself - can you tell me how and where did you get this price ? I live in Fort Lauderdale, FL and I'm getting ready to start shopping around because I need the car in mid-march . Thank you in advance, Dan

Dan I'm in Omaha Nebraska. I got my deal at O'daniel Honda here. Leased my last one there.  I contacted my previous salesperson via email requesting a quote told them I had seen people getting around 32k. Came back immediately with deal above. 

seveniron

Thank you very much, pharmb - that's good to know : starting the negotiations from 32k .I'll keep that in my mind when i'll start sending emails for quotes .
Enjoy your new car !

dimarules

I have a deal that might be interesting... EX...$350/month, $0 down, 12/36, $1200 due at signing for first month and bank fees. In Brooklyn, NY. Is that a good deal for NY?

Michaell

dimarules said:

I have a deal that might be interesting... EX...$350/month, $0 down, 12/36, $1200 due at signing for first month and bank fees. In Brooklyn, NY. Is that a good deal for NY?

What is the MSRP and selling price? Are you rolling the taxes into the lease?

dimarules

Yes, Taxes are rolled in. MSRP 33K

dimarules

Found another one - $340, $0 down, 12/36, $1200 due at signing for first month and bank fees. Tax included in number. In Brooklyn, NY

Michaell

dimarules said:

Found another one - $340, $0 down, 12/36, $1200 due at signing for first month and bank fees. Tax included in number. In Brooklyn, NY

Without the prices, all we could do is guess at how good or bad your deal is.

bcarter21

Looking at a 2016 Odyssey SE in Pittsburgh, Pa. Info they are giving me is: sticker is 34,250. "sale" is 31,530. honda incentive is MF .0005.... they want 1st pay/title/reg/taxes down (700). total 395 per month (includes taxes). residual of the lease is 20,135. Does this all sound accurate? good deal?

Thanks so much!

Michaell

bcarter21 said:

Looking at a 2016 Odyssey SE in Pittsburgh, Pa. Info they are giving me is: sticker is 34,250. "sale" is 31,530. honda incentive is MF .0005.... they want 1st pay/title/reg/taxes down (700). total 395 per month (includes taxes). residual of the lease is 20,135. Does this all sound accurate? good deal?

Thanks so much!

MF is .00049 (I suppose the dealer is rounding up ... but, it could matter).

What is the lease term and miles per year?

reddevilc250

trying to get the 2016 SE.. the dealer offer the following.. is this consider a good deal?
36 months / 15000/yr

MSRP$ 34995
Cap Cost $30799
MF 0.00049
residual 55%/18840.25
Payment $356.51 +8% sales tax
down payment $806.18 including registration $334.75, 1st month $385.03, doc $80

Michaell

reddevilc250 said:

trying to get the 2016 SE.. the dealer offer the following.. is this consider a good deal?
36 months / 15000/yr

MSRP$ 34995
Cap Cost $30799
MF 0.00049
residual 55%/18840.25
Payment $356.51 +8% sales tax
down payment $806.18 including registration $334.75, 1st month $385.03, doc $80

I get $373/mo with those numbers and 8% tax.

My residual calculation is $19,247.25

zoobearz

kyfdx said:

zoobearz said:

Chicago market -

2016 Odyssey EX-L
MSRP - 36,950
Your Sale Price - 31,755
Cap Cost - 34,125.30
Residual - 21,061.50 (57%)
Money Factor - .00049 - Super Preferred Term - Must qualify

2016 Honda Odyssey EX-L (No navi or Ent system)
12,000 miles
36 month lease
$0 due at signing
390/mo
With Approved Credit

What do you guys think?

The calculations and lease variables are correct. What makes up the $2400 difference between the selling price and the CAP cost?

The Cap Cost includes the sales tax and initial upfront fees that are due on the lease that are being rolled into the lease since i am doing $0 down on the lease. The Cap Cost would be equivelant to an "Out The Door" price on a purchased vehicle.

kyfdx

zoobearz said:

kyfdx said:

zoobearz said:

Chicago market -

2016 Odyssey EX-L
MSRP - 36,950
Your Sale Price - 31,755
Cap Cost - 34,125.30
Residual - 21,061.50 (57%)
Money Factor - .00049 - Super Preferred Term - Must qualify

2016 Honda Odyssey EX-L (No navi or Ent system)
12,000 miles
36 month lease
$0 due at signing
390/mo
With Approved Credit

What do you guys think?

The calculations and lease variables are correct. What makes up the $2400 difference between the selling price and the CAP cost?

The Cap Cost includes the sales tax and initial upfront fees that are due on the lease that are being rolled into the lease since i am doing $0 down on the lease. The Cap Cost would be equivelant to an "Out The Door" price on a purchased vehicle.

I get the same number. Looks like a pretty good deal.

mikieguns5

Hi, I have a 2013 EX-L Lease in NJ and am currently waiting for my local dealer to provide a quote for possibly turning in this lease early (expires July 1) and getting into a new 2016 EX-L. While I wait for the quote details (which I will share here) I was wondering if anyone had any general advice for me. Using Edmunds TMV web site, it appears that my current car's private market value is about $25K. My residual is $19K. Can't I use this equity as a down payment toward the new lease? I assume that with $6,000 down payment (in the form of equity) I should be able to get a very low monthly payment, similar to the $199 per month I have today. Three years ago I traded in an old Nissan Versa and also received $2500 in loyalty credit, so this resulted in about $7700 in "down payment". I am trying to see if I can do something similar now, but instead of trading in any cars or having money out of pocket in a down payment or towards fees, I can just use the equity as well as ask for another loyalty credit. Does that make sense? Ideally I am trying to see if it is realistic to walk away with zero money down out of pocket and something similar to the $199 per month I have now. My other idea is to just buy my current car and keep it or sell it on my own. It sounds like the payoff (residual) is a lot less than the market value so it is a good deal, but I need to see what my financing options will look like and what kind of monthly payment I will have. My car has 30K miles and is in excellent condition. Long term I do want to own one of these Odyssey's. thanks!

burnhagw

mikieguns5 said:

Hi, I have a 2013 EX-L Lease in NJ and am currently waiting for my local dealer to provide a quote for possibly turning in this lease early (expires July 1) and getting into a new 2016 EX-L. While I wait for the quote details (which I will share here) I was wondering if anyone had any general advice for me. Using Edmunds TMV web site, it appears that my current car's private market value is about $25K. My residual is $19K. Can't I use this equity as a down payment toward the new lease? I assume that with $6,000 down payment (in the form of equity) I should be able to get a very low monthly payment, similar to the $199 per month I have today. Three years ago I traded in an old Nissan Versa and also received $2500 in loyalty credit, so this resulted in about $7700 in "down payment". I am trying to see if I can do something similar now, but instead of trading in any cars or having money out of pocket in a down payment or towards fees, I can just use the equity as well as ask for another loyalty credit. Does that make sense? Ideally I am trying to see if it is realistic to walk away with zero money down out of pocket and something similar to the $199 per month I have now. My other idea is to just buy my current car and keep it or sell it on my own. It sounds like the payoff (residual) is a lot less than the market value so it is a good deal, but I need to see what my financing options will look like and what kind of monthly payment I will have. My car has 30K miles and is in excellent condition. Long term I do want to own one of these Odyssey's. thanks!

What is your payoff of your current vehicle? What is the MSRP of the vehicle you're looking at? Negotiate the sale price first, then subtract any rebates they are offering and any positive equity. I don't recommend putting money down in a lease because if you total your car or it gets stolen, you're out that money.

kyfdx

mikieguns5 said:

Hi, I have a 2013 EX-L Lease in NJ and am currently waiting for my local dealer to provide a quote for possibly turning in this lease early (expires July 1) and getting into a new 2016 EX-L. While I wait for the quote details (which I will share here) I was wondering if anyone had any general advice for me. Using Edmunds TMV web site, it appears that my current car's private market value is about $25K. My residual is $19K. Can't I use this equity as a down payment toward the new lease? I assume that with $6,000 down payment (in the form of equity) I should be able to get a very low monthly payment, similar to the $199 per month I have today. Three years ago I traded in an old Nissan Versa and also received $2500 in loyalty credit, so this resulted in about $7700 in "down payment". I am trying to see if I can do something similar now, but instead of trading in any cars or having money out of pocket in a down payment or towards fees, I can just use the equity as well as ask for another loyalty credit. Does that make sense? Ideally I am trying to see if it is realistic to walk away with zero money down out of pocket and something similar to the $199 per month I have now. My other idea is to just buy my current car and keep it or sell it on my own. It sounds like the payoff (residual) is a lot less than the market value so it is a good deal, but I need to see what my financing options will look like and what kind of monthly payment I will have. My car has 30K miles and is in excellent condition. Long term I do want to own one of these Odyssey's. thanks!

Your residual at the end of term is not your current payoff.

I agree with the post above, as well.

ebd4662

Hello, Can you please post this months MF and RV% for a 2016 Odyssey Touring for a 36 mo/12k lease in New York City...and any incentives too. Thanks

kyfdx

ebd4662 said:

Hello, Can you please post this months MF and RV% for a 2016 Odyssey Touring for a 36 mo/12k lease in New York City...and any incentives too. Thanks

.00049 MF and 52% residual. $1250 lease cash

kimmy23

Hi. What is the money factor and residual for a Odyssey EX-L for 10k miles/36 mth lease in NJ? Any incentives too please.  Thank you. 

Michaell

kimmy23 said:

Hi. What is the money factor and residual for a Odyssey EX-L for 10k miles/36 mth lease in NJ? Any incentives too please.  Thank you. 

.00049 and 57% for 36/12. $1250 lease cash.

Honda does not offer 10k leases.

kimmy23

Michaell said:

Hi. What is the money factor and residual for a Odyssey EX-L for 10k miles/36 mth lease in NJ? Any incentives too please.  Thank you. 

.00049 and 57% for 36/12. $1250 lease cash. Honda does not offer 10k leases.

Thank you. 

seveniron

Hello, can I also have the money factor, residual and lease incentives for Odyssey EX-L in Fort Lauderdale FL ? Also, if you don't mind - what will be a good target price for the OTD price (for the EX-L - basic NO res or navi) ?

On the same note - what exactly the lease cash mean ? Will they subtract the lease cash from the price of the car - if yes from what price - MSRP ??
How exactly does this work ?

Thank you in advance,
Dan.

Michaell

seveniron said:

Hello, can I also have the money factor, residual and lease incentives for Odyssey EX-L in Fort Lauderdale FL ? Also, if you don't mind - what will be a good target price for the OTD price (for the EX-L - basic NO res or navi) ?

On the same note - what exactly the lease cash mean ? Will they subtract the lease cash from the price of the car - if yes from what price - MSRP ??
How exactly does this work ?

Thank you in advance,
Dan.

.00049 and 55% for 36 months, 15,000 miles per year. $1250 lease cash.

Lease cash is a factory to dealer incentive; use that knowledge to negotiate your best price. Just like on a purchase, you want to get the best selling price possible.

seveniron

Michaell said:

seveniron said:

Hello, can I also have the money factor, residual and lease incentives for Odyssey EX-L in Fort Lauderdale FL ? Also, if you don't mind - what will be a good target price for the OTD price (for the EX-L - basic NO res or navi) ?

On the same note - what exactly the lease cash mean ? Will they subtract the lease cash from the price of the car - if yes from what price - MSRP ??
How exactly does this work ?

Thank you in advance,
Dan.

.00049 and 55% for 36 months, 15,000 miles per year. $1250 lease cash.

Lease cash is a factory to dealer incentive; use that knowledge to negotiate your best price. Just like on a purchase, you want to get the best selling price possible.

Thank you very much , Michaell !

iutodd

Would I be able to get the MF and the residual for a 2016 Odyssey EX in St. Louis, MO?

Are there any tips for getting a better deal if I'm thinking that long term I will purchase the vehicle when the lease term is up? Any thing to look out for?

Michaell

iutodd said:

Would I be able to get the MF and the residual for a 2016 Odyssey EX in St. Louis, MO?

Are there any tips for getting a better deal if I'm thinking that long term I will purchase the vehicle when the lease term is up? Any thing to look out for?

.00049 and 55% for 36 months, 15,000 miles per year. $1000 lease cash.

Not a good idea to lease if you intend to keep the vehicle for a long time. There are costs associated with a lease that you avoid if you purchase new.