2016 Honda Odyssey Lease Questions

iutodd

If, in 3 years, I have enough cash to pay for the car outright and don't have to get a loan to buy it would that change the calculus at all?

kyfdx

iutodd said:

If, in 3 years, I have enough cash to pay for the car outright and don't have to get a loan to buy it would that change the calculus at all?

Not really... if that's the case you can get a loan now, and then pay it off in three years.

bartlett4

Can anyone give me residual and MF on a 2016 Odyssey SE and also EX
36/12000?
Chicago-ish
Thanks so much!

kyfdx

bartlett4 said:

Can anyone give me residual and MF on a 2016 Odyssey SE and also EX
36/12000?
Chicago-ish
Thanks so much!

.00049 MF and 57% residual. $1000 lease cash

Either model

bartlett4

Thank you.
Any incentives on that model?

kyfdx

bartlett4 said:

Thank you.
Any incentives on that model?

$1000 lease cash

cso23

Hello,

I'm looking to lease an Odyssey and still trying to understand if it is within the budget.

Specs: 2016 EX-L 36moths/15K year. 0$ down.

From Edmunds True Market Value tool for my 33179 zip code it says $32.167 base price + $900 destination fee for a Total of $33.343. (MSRP $36.050)

(Competing site list it for a total of $33.114)

Questions:

February numbers.

Based on the February numbers, the $33.343 total price and that I want to do 0$ down, what would be the monthly payment be? (excluding sales taxes? and with 6% sales taxes?).

How good is that $33.343?

I would also like to understand the numbers for 36m/12K.

Thank you in advance, these forums were a great help 2 years ago when I got my current car.

Michaell

cso23 said:

Hello,

I'm looking to lease an Odyssey and still trying to understand if it is within the budget.

Specs: 2016 EX-L 36moths/15K year. 0$ down.

From Edmunds True Market Value tool for my 33179 zip code it says $32.167 base price + $900 destination fee for a Total of $33.343. (MSRP $36.050)

(Competing site list it for a total of $33.114)

Questions:

February numbers.

Based on the February numbers, the $33.343 total price and that I want to do 0$ down, what would be the monthly payment be? (excluding sales taxes? and with 6% sales taxes?).

How good is that $33.343?

I would also like to understand the numbers for 36m/12K.

Thank you in advance, these forums were a great help 2 years ago when I got my current car.

.00049 and 55% for 36/15. Add 2% for 12K.

$1250 lease cash.

Using the $33,343 as the cap cost, I get a payment of $395/mo with 6% sales tax. 12K payment would be $376/mo with tax.

Understand that $0 down is not the same as $0 out of pocket ... there are some up front costs with a lease that you'll pay when you sign the paperwork, or you can choose to add them into the lease, which will increase your payment.

cso23

Michaell said:

Hello, I'm looking to lease an Odyssey and still trying to understand if it is within the budget. Specs: 2016 EX-L 36moths/15K year. 0$ down. From Edmunds True Market Value tool for my 33179 zip code it says $32.167 base price + $900 destination fee for a Total of $33.343. (MSRP $36.050) (Competing site list it for a total of $33.114) Questions: February numbers. Based on the February numbers, the $33.343 total price and that I want to do 0$ down, what would be the monthly payment be? (excluding sales taxes? and with 6% sales taxes?). How good is that $33.343? I would also like to understand the numbers for 36m/12K. Thank you in advance, these forums were a great help 2 years ago when I got my current car.

.00049 and 55% for 36/15. Add 2% for 12K. $1250 lease cash. Using the $33,343 as the cap cost, I get a payment of $395/mo with 6% sales tax. 12K payment would be $376/mo with tax. Understand that $0 down is not the same as $0 out of pocket ... there are some up front costs with a lease that you'll pay when you sign the paperwork, or you can choose to add them into the lease, which will increase your payment.

Thank you!

mikieguns5

Question. I see a pretty good deal listed in this forum. Here it is:
2016 Odyssey EX-L
MSRP - 36,950
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

Hypothetical question. If $5,000 were put as a down payment in this scenario, what would the new monthly payment be? I am just trying to make sure I understand how to calculate this math. thanks!

Michaell

mikieguns5 said:

Question. I see a pretty good deal listed in this forum. Here it is:
2016 Odyssey EX-L
MSRP - 36,950
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

Hypothetical question. If $5,000 were put as a down payment in this scenario, what would the new monthly payment be? I am just trying to make sure I understand how to calculate this math. thanks!

On a 36 month lease, every $1000 used as a down payment reduces the pre-tax payment about $28/mo.

However, we don't recommend that course of action - the money is at risk if the car is stolen or totaled.

justobserving

Can the moderator kindly provide me the residual value and money factor for the EX-L without navigation or RES? I am in the Chicago area. Thanks!

Michaell

justobserving said:

Can the moderator kindly provide me the residual value and money factor for the EX-L without navigation or RES? I am in the Chicago area. Thanks!

What lease term and how many miles per year?

ebd4662

Anyone have the current RV%, MF, and incentives on the 2016 EX-L w/ RES - 36mo/12k lease? I am in NY. Thanks

Michaell

ebd4662 said:

Anyone have the current RV%, MF, and incentives on the 2016 EX-L w/ RES - 36mo/12k lease? I am in NY. Thanks

55% and .00049. $1250 lease cash.

rtaylor4

Hi. What is the money factor and residual for a Odyssey EX-L for 15k miles/36 mth lease in PA? Any incentives too please. Thank you

Michaell

rtaylor4 said:

Hi. What is the money factor and residual for a Odyssey EX-L for 15k miles/36 mth lease in PA? Any incentives too please. Thank you

.00049 and 55%. $1000 lease cash.

inkoasim

Hi, I am located in Southern California and am interested in leasing an EX-L with MSRP of 36,950. I got a dealer quote for 31,356 + tax (9%) and a lease price of 379.37 with 0 due at sign and taxes included. Can someone who has the current numbers for Feb let me know how that sounds and what the residual value should be on this car? Thanks, looking to sign this weekend, hopefully.
Inko

Michaell

inkoasim said:

Hi, I am located in Southern California and am interested in leasing an EX-L with MSRP of 36,950. I got a dealer quote for 31,356 + tax (9%) and a lease price of 379.37 with 0 due at sign and taxes included. Can someone who has the current numbers for Feb let me know how that sounds and what the residual value should be on this car? Thanks, looking to sign this weekend, hopefully.
Inko

MF is .00049 with $1250 lease cash.

Residual is based on the lease term and miles per year - what are you looking for?

Tax on a lease in CA is calculated against the monthly payment, not up front like on a purchase.

joeyster

Hi,
Can I get the MF, Residual, incentives for March (NJ) for EX-L for 36/12 and 36/15?
And also for EX-L RES for 36/12 and 36/15?
And also for SE for 36/12 and 36/15?

Thank you for your help.

tdemoss18

Can I get the MF and residual value for March (KY) for EXL w/REs 36 mos, 12k miles? Thanks.

kyfdx

joeyster said:

Hi,
Can I get the MF, Residual, incentives for March (NJ) for EX-L for 36/12 and 36/15?
And also for EX-L RES for 36/12 and 36/15?
And also for SE for 36/12 and 36/15?

Thank you for your help.

36/15. Add 2% for 36/12

EX-L/SE: .00041 MF and 54% residual. $1750/$1250 lease cash

EX-L w/RES: .00041 MF and 52% residual. $1750 lease cash.

kyfdx

tdemoss18 said:

Can I get the MF and residual value for March (KY) for EXL w/REs 36 mos, 12k miles? Thanks.

.00041 MF and 54% residual. $1750 lease cash

haillatu

Hi, I am looking for an EXL (without RES) in VA. Could I please get the MF and Residual for both 12k and 15k? Thanks!

kyfdx

haillatu said:

Hi, I am looking for an EXL (without RES) in VA. Could I please get the MF and Residual for both 12k and 15k? Thanks!

.00041 MF and 56%/54% residual. $1750 lease cash

bcvc71_li

Hi kyfdx, we are shopping for an EX-L with Nav in NY (Long Island). Can you please advise of the MF and Residual for a 2 year lease and a 3 year lease, each with 10,000 miles/year? Also, does Honda offer better rates for a 39 month lease (instead of a 36 month lease)? Any help would be most appreciated! Thanks so much.

Michaell

bcvc71_li said:

Hi kyfdx, we are shopping for an EX-L with Nav in NY (Long Island). Can you please advise of the MF and Residual for a 2 year lease and a 3 year lease, each with 10,000 miles/year? Also, does Honda offer better rates for a 39 month lease (instead of a 36 month lease)? Any help would be most appreciated! Thanks so much.

.00041 MF

$1250 lease cash and $500 bonus lease cash.

Honda does not offer 10K leases, but if they do, add 1% to the 12k numbers quoted below.

24/12 - 61%
36/12 - 54%

bcvc71_li

Thank you so much! Are the lease cash and bonus lease cash unpublished dealer incentives? I ask because Edmunds.com indicates there are no leasing incentives at this time.

Michaell

bcvc71_li said:

Thank you so much! Are the lease cash and bonus lease cash unpublished dealer incentives? I ask because Edmunds.com indicates there are no leasing incentives at this time.

That is correct - factory to dealer incentives that the dealer can choose to pass along to the customer.

wallclock

Hi, we are shopping for an EX in NY. Could you kindly advice on the MF and the residual for this month? Thanks!

wallclock

wallclock said:

Hi, we are shopping for an EX in NY. Could you kindly advice on the MF and the residual for this month? Thanks!

Forgot to mention in the last message, we're just looking at a standard 3yr/36k lease. Thanks!

kyfdx

wallclock said:

wallclock said:

Hi, we are shopping for an EX in NY. Could you kindly advice on the MF and the residual for this month? Thanks!

Forgot to mention in the last message, we're just looking at a standard 3yr/36k lease. Thanks!

.00041 MF and 56% residual. $1250 lease cash.

f3honda4me

Could someone kindly provide the money factor, incentives, and residuals for 10k/12k lease on the 2016 Odyssey LX and the EX/EXL? Thank you! I'm in wisconsin.

Michaell

f3honda4me said:

Could someone kindly provide the money factor, incentives, and residuals for 10k/12k lease on the 2016 Odyssey LX and the EX/EXL? Thank you! I'm in wisconsin.

36 months?

Honda does not offer 10K leases, so the numbers are all for 36/12:

.00041 MF and 56% for all trims.

LX & EX - $1250 lease cash
EX-L - $1500 lease cash

wallclock

I have a dumb question on lease cash. From the dealer's perspective, let's say on a particular model he has dealer cash of $1000 and lease cash of $500. Does it mean that the dealer will receive $1500 if one leases a car or just the $500 lease cash only?

Michaell

wallclock said:

I have a dumb question on lease cash. From the dealer's perspective, let's say on a particular model he has dealer cash of $1000 and lease cash of $500. Does it mean that the dealer will receive $1500 if one leases a car or just the $500 lease cash only?

They will get both - the idea is to have that savings passed along to you in the form of a lower selling price.

wallclock

Thanks for the quick response Michael. I should have made it clear that I was NOT talking about lease bonus cash.

As I was checking Incentives and Rebates for the Odyssey on my phone, I noticed that there's a $1000 "Dealer Cash". Now for the Odyssey EX-L, the lease cash is $1500 this month according to your post, does it mean that the dealer has a cushion of $2500 from the invoice when setting the selling price? Does it mean that leasing customers have an advantage of up to $1500 over normal purchase as far as the selling price is concerned?

Michaell

wallclock said:

Thanks for the quick response Michael. I should have made it clear that I was NOT talking about lease bonus cash.

As I was checking Incentives and Rebates for the Odyssey on my phone, I noticed that there's a $1000 "Dealer Cash". Now for the Odyssey EX-L, the lease cash is $1500 this month according to your post, does it mean that the dealer has a cushion of $2500 from the invoice when setting the selling price? Does it mean that leasing customers have an advantage of up to $1500 over normal purchase as far as the selling price is concerned?

No, the $1500 I quoted was the $1000 dealer cash and the $500 bonus lease cash for the EX-L trim. The dealer cash can be used for both leases or purchases.

wallclock

No, the $1500 I quoted was the $1000 dealer cash and the $500 bonus lease cash for the EX-L trim. The dealer cash can be used for both leases or purchases.

Thanks again Michael! That's very clear. Now the theoretical extra margin for leasing is only $500.

f3honda4me

Michaell said:

f3honda4me said:

Could someone kindly provide the money factor, incentives, and residuals for 10k/12k lease on the 2016 Odyssey LX and the EX/EXL? Thank you! I'm in wisconsin.

36 months?

Honda does not offer 10K leases, so the numbers are all for 36/12:

.00041 MF and 56% for all trims.

LX & EX - $1250 lease cash
EX-L - $1500 lease cash

Yes 36 month. And thanks for this info, because of it I was able to work out a deal on an EXL last night. Very much appreciated!

Michaell

f3honda4me said:

Michaell said:

f3honda4me said:

Could someone kindly provide the money factor, incentives, and residuals for 10k/12k lease on the 2016 Odyssey LX and the EX/EXL? Thank you! I'm in wisconsin.

36 months?

Honda does not offer 10K leases, so the numbers are all for 36/12:

.00041 MF and 56% for all trims.

LX & EX - $1250 lease cash
EX-L - $1500 lease cash

Yes 36 month. And thanks for this info, because of it I was able to work out a deal on an EXL last night. Very much appreciated!

Would you like to share your deal details with us?

f3honda4me

Michaell said:

f3honda4me said:

Michaell said:

f3honda4me said:

Could someone kindly provide the money factor, incentives, and residuals for 10k/12k lease on the 2016 Odyssey LX and the EX/EXL? Thank you! I'm in wisconsin.

36 months?

Honda does not offer 10K leases, so the numbers are all for 36/12:

.00041 MF and 56% for all trims.

LX & EX - $1250 lease cash
EX-L - $1500 lease cash

Yes 36 month. And thanks for this info, because of it I was able to work out a deal on an EXL last night. Very much appreciated!

Would you like to share your deal details with us?

Sure.

Odyssey EX-L MSRP 36,950
Agreed upon selling price 32,676
Minus lease cash 1500 for total cap cost of 31,176
With the 56% residual and .00041 MF, monthly payment is $329.97 after sales tax (5.6% tax)

No money down towards cap reduction, but I'm paying the fees up front including first payment $329, doc fee $299, DMV fee $174, and $595 acquisition fee.

Michaell

f3honda4me said:

Michaell said:

f3honda4me said:

Michaell said:

f3honda4me said:

Could someone kindly provide the money factor, incentives, and residuals for 10k/12k lease on the 2016 Odyssey LX and the EX/EXL? Thank you! I'm in wisconsin.

36 months?

Honda does not offer 10K leases, so the numbers are all for 36/12:

.00041 MF and 56% for all trims.

LX & EX - $1250 lease cash
EX-L - $1500 lease cash

Yes 36 month. And thanks for this info, because of it I was able to work out a deal on an EXL last night. Very much appreciated!

Would you like to share your deal details with us?

Sure.

Odyssey EX-L MSRP 36,950
Agreed upon selling price 32,676
Minus lease cash 1500 for total cap cost of 31,176
With the 56% residual and .00041 MF, monthly payment is $329.97 after sales tax (5.6% tax)

No money down towards cap reduction, but I'm paying the fees up front including first payment $329, doc fee $299, DMV fee $174, and $595 acquisition fee.

That is a lot of vehicle for the payment! Congrats on the new Odyssey.

daycaremom

We are in IA Looking to get into Honda Ex-L w/res they offered to pay off our suburban we currently own so we are "flush" on , their current offer to us was $37,610+applicable fees for $569/month for 36mon lease. We are thinking this is still pretty high but UN sure where to go from here. We went back and forth all week until they agreed to pay off the truck and went from $645 to $569 because of that. 

Michaell

daycaremom said:

We are in IA Looking to get into Honda Ex-L w/res they offered to pay off our suburban we currently own so we are "flush" on , their current offer to us was $37,610+applicable fees for $569/month for 36mon lease. We are thinking this is still pretty high but UN sure where to go from here. We went back and forth all week until they agreed to pay off the truck and went from $645 to $569 because of that. 

$569/mo is a big payment for a $38K minivan.

What is the adjusted cap cost, and how much out of pocket is the dealer expecting?

Also, how many miles are you looking for?

daycaremom

Adjusted cap cost was 36,610 miles were 12000 we were to pay first months payment at signing.

Michaell

daycaremom said:

Adjusted cap cost was 36,610 miles were 12000 we were to pay first months payment at signing.

36/12 for EX-L with RES numbers are .00041 and 54%.

What is the MSRP?

daycaremom

MSRP is 38,660

Michaell

daycaremom said:

MSRP is 38,660

I get $461/mo plus tax with those numbers. Not sure why the dealer quote is over $100 higher.

daycaremom

Us either, would it make a difference they are paying off our trade in?