Did you recently rush to buy a new vehicle before tariff-related price hikes? A reporter is looking to speak with shoppers who felt pressure to act quickly due to expected cost increases; please reach out to PR@Edmunds.com for more details by 4/24.

2016 Honda Odyssey Lease Questions

2456713

Comments

  • kyfdxkyfdx Moderator Posts: 260,647
    padoo said:

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

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

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • padoopadoo Member Posts: 41
    Thanks
  • tweet6586tweet6586 Member Posts: 3
    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.

  • kyfdxkyfdx Moderator Posts: 260,647
    edited January 2016
    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • inigo85719inigo85719 Member Posts: 10
    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!
  • MichaellMichaell Moderator Posts: 258,751

    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).

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • inigo85719inigo85719 Member Posts: 10
    Michaell 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%
  • MichaellMichaell Moderator Posts: 258,751

    Michaell 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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • inigo85719inigo85719 Member Posts: 10


    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?
  • MichaellMichaell Moderator Posts: 258,751
    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. 

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • inigo85719inigo85719 Member Posts: 10
    Meaning discount vs' cap or just general against the msrp? what would a good number to shoot for?
  • MichaellMichaell Moderator Posts: 258,751
    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. 

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • inigo85719inigo85719 Member Posts: 10
    ok...thank you for your help!!!
  • pharmbpharmb Member Posts: 23
    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.
  • MichaellMichaell Moderator Posts: 258,751
    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • inigo85719inigo85719 Member Posts: 10

    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?

  • MichaellMichaell Moderator Posts: 258,751

    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?

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • inigo85719inigo85719 Member Posts: 10
    Michaell 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)
  • MichaellMichaell Moderator Posts: 258,751

    Michaell 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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • sevenironseveniron Member Posts: 4
    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
  • zoobearzzoobearz Member Posts: 3
    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....
  • zoobearzzoobearz Member Posts: 3
    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?
  • kyfdxkyfdx Moderator Posts: 260,647
    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?

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • pharmbpharmb Member Posts: 23

    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)

    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. 
  • pharmbpharmb Member Posts: 23
    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. 
  • sevenironseveniron Member Posts: 4
    edited February 2016
    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 !
  • dimarulesdimarules Member Posts: 3
    edited February 2016
    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?
  • MichaellMichaell Moderator Posts: 258,751
    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?

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • dimarulesdimarules Member Posts: 3
    Yes, Taxes are rolled in. MSRP 33K
  • dimarulesdimarules Member Posts: 3
    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
  • MichaellMichaell Moderator Posts: 258,751
    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • bcarter21bcarter21 Member Posts: 1
    edited February 2016
    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!
  • MichaellMichaell Moderator Posts: 258,751
    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?

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • reddevilc250reddevilc250 Member Posts: 5
    edited February 2016
    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
  • MichaellMichaell Moderator Posts: 258,751

    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

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • zoobearzzoobearz Member Posts: 3
    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.
  • kyfdxkyfdx Moderator Posts: 260,647
    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • mikieguns5mikieguns5 Member Posts: 39
    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!
  • burnhagwburnhagw Member Posts: 10

    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.
  • kyfdxkyfdx Moderator Posts: 260,647

    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • ebd4662ebd4662 Member Posts: 35
    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
  • kyfdxkyfdx Moderator Posts: 260,647
    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

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kimmy23kimmy23 Member Posts: 10
    edited February 2016
    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. 
  • MichaellMichaell Moderator Posts: 258,751
    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • kimmy23kimmy23 Member Posts: 10
    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. 
  • sevenironseveniron Member Posts: 4
    edited February 2016
    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.
  • MichaellMichaell Moderator Posts: 258,751
    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • sevenironseveniron Member Posts: 4
    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 !
  • iutoddiutodd Member Posts: 27
    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?
  • MichaellMichaell Moderator Posts: 258,751
    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.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

Sign In or Register to comment.