2016 Honda Odyssey Lease Questions

carm1235

Thanks for the quick answer Michaell

So my bottom line concern is I think the lease I negotiated is too high. What do you think?
2016 Odyssey SE
3yr 15k a year
Dealer paying off lease last month of current lease
$1,713 trade in equity or net trade in allowance (Trading LEASED 2013 Pilot ex4wd in)
I think I should qualify for the Honda Loyalty. Also my wife is a college graduate but not recent if that's a factor.
$563 down including first month and dmv fees and tire fee
$330 month including tax in monthly.
2 year Honda Sentinal plan
I'm in NYC

carm

kyfdx

carm1235 said:

Thanks for the quick answer Michaell

So my bottom line concern is I think the lease I negotiated is too high. What do you think?
2016 Odyssey SE
3yr 15k a year
Dealer paying off lease last month of current lease
$1,713 trade in equity or net trade in allowance (Trading LEASED 2013 Pilot ex4wd in)
I think I should qualify for the Honda Loyalty. Also my wife is a college graduate but not recent if that's a factor.
$563 down including first month and dmv fees and tire fee
$330 month including tax in monthly.
2 year Honda Sentinal plan
I'm in NYC

carm

What is the MSRP and selling price of the new Odyssey?

carm1235

I guess I went about it the wrong way at the dealers. I don't know the exact selling price. The MSRP of the SE is 33,500 plus 900 destination charge which I dont think applies for leases. I think there is a 595 lease charge from HVT (Honda lease company)

carm1235

The selling price may be about 29500

abc_lease1

Does it make sense to do MSD (multiple security deposits) for Odyssey EXL? trying to figure out how much that would lower the money factor. I'm in NJ, looking for 36 months/12k miles.

Michaell

abc_lease1 said:

Does it make sense to do MSD (multiple security deposits) for Odyssey EXL? trying to figure out how much that would lower the money factor. I'm in NJ, looking for 36 months/12k miles.

 Honda does not offer multiple security deposits 

rajhonda

rajhonda said:

Michaell said:

rajhonda said:

Michaell said:

rajhonda said:

Is this a good lease deal for a 2016 Honda Odyssey EX-L with RES in NJ?

MSRP 38550
Out the door price if purchased: 35,500

zero down sing on drive
36month/12k
residual value: $20,817

monthly lease amount: $412
please advise thanks

.00031 MF on sign and drive. 54% for 36/12 on EX-L with RES

What is the adjusted cap cost, with all taxes and fees rolled in? Not sure I understand the $35,500 "purchase price" if you are leasing.

Thanks for quick response Michael. I will find out the adjusted cap. cost. Dealer gave me the out the door price as $35,500 if I am financing with $0 down (all taxes and fees included). Monthly lease amount is $412 if I am leasing it with $0 down (All fees and taxes included). In this case, will adjusted cap. cost be $35,500 or will it be different?

Thanks again,
Raj

It will be different. Will need to add the bank fee, but you'll pay less taxes than if you were buying.

Hi @Michaell ,

Adjusted Cap Cost is $35,340

Is monthly lease amount of $412 good deal for $0 down sign and drive (36months and 12K miles for 2016 Honda Odyssey EX-L with RES and wheel locks + cargo tray + mud guards)?

Hi Michaell,

Any updates?

Thanks,
Raj
Adjusted Cap Cost is $35,340

Is monthly lease amount of $412 good deal for $0 down sign and drive (36months and 12K miles for 2016 Honda Odyssey EX-L with RES and wheel locks + cargo tray + mud guards)?

Michaell

carm1235 said:

I guess I went about it the wrong way at the dealers. I don't know the exact selling price. The MSRP of the SE is 33,500 plus 900 destination charge which I dont think applies for leases. I think there is a 595 lease charge from HVT (Honda lease company)

 The destination charge is absolutely applicable for a lease. The $595 is the bank fee. 

carm1235

Could you please share the newest MF and residual for an SE in New York? (36 month/15k lease) Also, is there lease cash incentive from Honda?
thanks!

carm1235

"
 The destination charge is absolutely applicable for a lease. The $595 is the bank fee. "

I did not know that.

Michaell

carm1235 said:

Could you please share the newest MF and residual for an SE in New York? (36 month/15k lease) Also, is there lease cash incentive from Honda?
thanks!

.00041 and 54%

$1250 total lease cash.

carm1235

Thanks. I see at the beginning of may you told someone .00142. Did it change that much since then?
So based on that Im paying about a $31400 negotiated selling price. Thats the Trucar Certified dealer price. I see people are paying as low as 28k to 29k. Is it possible to get a negotiated price like that on a lease or do they not have as much negotiating room ?

kyfdx

carm1235 said:

Thanks. I see at the beginning of may you told someone .00142. Did it change that much since then?
So based on that Im paying about a $31400 negotiated selling price. Thats the Trucar Certified dealer price. I see people are paying as low as 28k to 29k. Is it possible to get a negotiated price like that on a lease or do they not have as much negotiating room ?

The Odyssey MF has been .00041 for a couple of months.

We have no comment on TrueCar's pricing. You'd have to ask them.

carm1235

Thanks again

rajhonda

Hi Michaell,


Thanks for your quick responses and help here. Can you please review my quote and let me know if it is good deal?

Adjusted Cap Cost is $35,340; Residual: $20,817

Is monthly lease amount of $412 good deal for $0 down sign and drive (36months and 12K miles for 2016 Honda Odyssey EX-L with RES and wheel locks + cargo tray + mud guards)? $412 includes all fees and taxes.

Thanks,
Raj

rajhonda

rajhonda said:

Hi Michaell,


Thanks for your quick responses and help here. Can you please review my quote and let me know if it is good deal?

Adjusted Cap Cost is $35,340; Residual: $20,817

Is monthly lease amount of $412 good deal for $0 down sign and drive (36months and 12K miles for 2016 Honda Odyssey EX-L with RES and wheel locks + cargo tray + mud guards)? $412 includes all fees and taxes.

Thanks,
Raj

This is from NJ dealer

carm1235

Msrp 34400
Negotiared price 30000
3yr/45k
1750 trade in allowance
Lease Cash 1250
Odyssey SE
in NY
Can someone do these numbers for me please?
The lease calculator I'm using doesn't have a 45k mile choice. 

Thanks

dcho101

Any NJ buyers have some price references they can provide? DCH Paramus quoted me $31500 including destination for a EX-L on a 3yr/12k lease. I'm using tellmethebest.com as a reference and targeted 30750 and wouldn't budge, so I ended up leaving. Instead of making a guaranteed sale they let me walk.

Any advice is much appreciated.

carm1235

carm1235

dcho101 said:

Any NJ buyers have some price references they can provide? DCH Paramus quoted me $31500 including destination for a EX-L on a 3yr/12k lease. I'm using tellmethebest.com as a reference and targeted 30750 and wouldn't budge, so I ended up leaving. Instead of making a guaranteed sale they let me walk. Any advice is much appreciated.

MSRP is 36950 so it seems great to me. I had no idea they discount this much on. Is that a lease?

carm1235

kyfdx said:

Thanks. I see at the beginning of may you told someone .00142. Did it change that much since then? So based on that Im paying about a $31400 negotiated selling price. Thats the Trucar Certified dealer price. I see people are paying as low as 28k to 29k. Is it possible to get a negotiated price like that on a lease or do they not have as much negotiating room ?

The Odyssey MF has been .00041 for a couple of months. We have no comment on TrueCar's pricing. You'd have to ask them.

I guess I really meant to ask are people negotiating lease prices that low.  Is this possible or are these prices really only less for buying because of the incentives included in the negotiated buying price?

dcho101

carm1235 said:

kyfdx said:

Thanks. I see at the beginning of may you told someone .00142. Did it change that much since then?
So based on that Im paying about a $31400 negotiated selling price. Thats the Trucar Certified dealer price. I see people are paying as low as 28k to 29k. Is it possible to get a negotiated price like that on a lease or do they not have as much negotiating room ?

The Odyssey MF has been .00041 for a couple of months.

We have no comment on TrueCar's pricing. You'd have to ask them.

I guess I really meant to ask are people negotiating lease prices that low.  Is this possible or are these prices really only less for buying because of the incentives included in the negotiated buying price?

This is the price they quoted me including the Lease Cash of $1750. They showed me on their computer. I have another dealer close by asking for $31100 so I'll probably ask for them to include some accessories and go with that if I can't get it for my target price.

carm1235

Sounds good especially compared to what I'm being offered. about 31400 for an SE and your exl seems to have 500 more lease cash

Michaell

rajhonda said:

Hi Michaell,


Thanks for your quick responses and help here. Can you please review my quote and let me know if it is good deal?

Adjusted Cap Cost is $35,340; Residual: $20,817

Is monthly lease amount of $412 good deal for $0 down sign and drive (36months and 12K miles for 2016 Honda Odyssey EX-L with RES and wheel locks + cargo tray + mud guards)? $412 includes all fees and taxes.

Thanks,
Raj

I get $421/mo with those prices (assuming the sign and drive MF of .00031 and 54% residual).

carm1235

Does anyone know of any lease cash based on your insurance company? Specifically Geico?

Thanks

kyfdx

carm1235 said:

kyfdx said:

Thanks. I see at the beginning of may you told someone .00142. Did it change that much since then?
So based on that Im paying about a $31400 negotiated selling price. Thats the Trucar Certified dealer price. I see people are paying as low as 28k to 29k. Is it possible to get a negotiated price like that on a lease or do they not have as much negotiating room ?

The Odyssey MF has been .00041 for a couple of months.

We have no comment on TrueCar's pricing. You'd have to ask them.

I guess I really meant to ask are people negotiating lease prices that low.  Is this possible or are these prices really only less for buying because of the incentives included in the negotiated buying price?

I don't know of any purchase incentives that aren't also applicable to leases for Honda, this month.

Michaell

carm1235 said:

Does anyone know of any lease cash based on your insurance company? Specifically Geico?

Thanks

I've never heard of insurance company specific incentives.

carm1235

Michaell said: 

I've never heard of insurance company specific incentives.

Thanks

carm1235

Is this the time of month the numbers change if they're going to?  

Michaell

carm1235 said:

Is this the time of month the numbers change if they're going to?  

Yes, but the Honda numbers we received in May are valid until 7/5/16.

carm1235

Thanks again.

rajhonda

Michaell said:

rajhonda said:

Hi Michaell,


Thanks for your quick responses and help here. Can you please review my quote and let me know if it is good deal?

Adjusted Cap Cost is $35,340; Residual: $20,817

Is monthly lease amount of $412 good deal for $0 down sign and drive (36months and 12K miles for 2016 Honda Odyssey EX-L with RES and wheel locks + cargo tray + mud guards)? $412 includes all fees and taxes.

Thanks,
Raj

I get $421/mo with those prices (assuming the sign and drive MF of .00031 and 54% residual).

Thanks Michael. I received it for $424/mo including remote start.

Michaell

rajhonda said:

Michaell said:

rajhonda said:

Hi Michaell,


Thanks for your quick responses and help here. Can you please review my quote and let me know if it is good deal?

Adjusted Cap Cost is $35,340; Residual: $20,817

Is monthly lease amount of $412 good deal for $0 down sign and drive (36months and 12K miles for 2016 Honda Odyssey EX-L with RES and wheel locks + cargo tray + mud guards)? $412 includes all fees and taxes.

Thanks,
Raj

I get $421/mo with those prices (assuming the sign and drive MF of .00031 and 54% residual).

Thanks Michael. I received it for $424/mo including remote start.

Excellent - congrats and enjoy your new Odyssey!

paperboyccc

Hi Michael,

Can you share the residuals for the various trims? Are the sign and drive money factors all .00031?

EX
SE
EX-L
EX-L w/Res or EX-L w/Navi any different?
Touring
Touring Elite

Thanks a bunch!

Michaell

paperboyccc said:

Hi Michael,

Can you share the residuals for the various trims? Are the sign and drive money factors all .00031?

EX
SE
EX-L
EX-L w/Res or EX-L w/Navi any different?
Touring
Touring Elite

Thanks a bunch!

What lease term and how many miles per year?

paperboyccc

Michaell said:

paperboyccc said:

Hi Michael,

Can you share the residuals for the various trims? Are the sign and drive money factors all .00031?

EX
SE
EX-L
EX-L w/Res or EX-L w/Navi any different?
Touring
Touring Elite

Thanks a bunch!

What lease term and how many miles per year?

36 months, 12k miles per year.

Michaell

paperboyccc said:

Michaell said:

paperboyccc said:

Hi Michael,

Can you share the residuals for the various trims? Are the sign and drive money factors all .00031?

EX
SE
EX-L
EX-L w/Res or EX-L w/Navi any different?
Touring
Touring Elite

Thanks a bunch!

What lease term and how many miles per year?

36 months, 12k miles per year.

.00041 regular MF, .00031 for sign and drive

36/12 residuals:
56% (EX, SE, EX-L)
54% (EX-L RES, EX-L NAV)
51% (Touring, Touring Elite)

carm1235

When I'm going to dealers with the negotiated price I want they all want to make me believe that I can' get a below invoice price and the lease cash and my trade in equity all on the same deal. Im looking to get somewhere between the bottom two prices shown here for the Odyssey SE. http://tellmethebest.com/honda.html Everything I've seen on this board makes me think it is reasonable. Am I right or am I missing something?

Thanks
Carm

dacarmon

When calculating lease payments on a sign & drive lease for 36 months - do you still calculate using 36 months and assume the dealer is paying the 1st payment, use 35 months in the calculation, or something else?

Michaell

dacarmon said:

When calculating lease payments on a sign & drive lease for 36 months - do you still calculate using 36 months and assume the dealer is paying the 1st payment, use 35 months in the calculation, or something else?

Still calculate based on 36 months; dealer makes the first payment.

Michaell

carm1235 said:

When I'm going to dealers with the negotiated price I want they all want to make me believe that I can' get a below invoice price and the lease cash and my trade in equity all on the same deal. Im looking to get somewhere between the bottom two prices shown here for the Odyssey SE. http://tellmethebest.com/honda.html Everything I've seen on this board makes me think it is reasonable. Am I right or am I missing something?

Thanks
Carm

Dealers, plural?

I'm sure their price quote includes the lease cash already. Equity should be treated separately.

Can't help you with prices from other websites.

dacarmon

Any current lease cash incentives - if so when do they expire? Also, are all Honda figures \ incentives national or any regional differences?

Michaell

dacarmon said:

Any current lease cash incentives - if so when do they expire? Also, are all Honda figures \ incentives national or any regional differences?

Honda numbers are national.

Lease numbers and incentives expire on 7/5/16.

Either $1250 or $1750 lease cash on the Odyssey, depending on trim level.

dacarmon

Michaell said:

dacarmon said:

When calculating lease payments on a sign & drive lease for 36 months - do you still calculate using 36 months and assume the dealer is paying the 1st payment, use 35 months in the calculation, or something else?

Still calculate based on 36 months; dealer makes the first payment.

Thanks - does that imply that for fees normally paid at inception such as the acquisition fee - in this case $595 for Honda - are effectively "residualized" at the residual percentage (36/12 residual - 56% - EX-L) ?

daycaremom

What is the MF and residual for EX-L with RES 36/12?  
Any incentives or cash back offers for Des Moines, Iowa area?

Trying to decide if we should lease or buy. 

Michaell

dacarmon said:

Michaell said:

dacarmon said:

When calculating lease payments on a sign & drive lease for 36 months - do you still calculate using 36 months and assume the dealer is paying the 1st payment, use 35 months in the calculation, or something else?

Still calculate based on 36 months; dealer makes the first payment.

Thanks - does that imply that for fees normally paid at inception such as the acquisition fee - in this case $595 for Honda - are effectively "residualized" at the residual percentage (36/12 residual - 56% - EX-L) ?

That sounds about right.

Michaell

daycaremom said:

What is the MF and residual for EX-L with RES 36/12?  
Any incentives or cash back offers for Des Moines, Iowa area?

Trying to decide if we should lease or buy. 

54% and .00041. $1750 lease cash.

kyfdx

dacarmon said:

Michaell said:

dacarmon said:

When calculating lease payments on a sign & drive lease for 36 months - do you still calculate using 36 months and assume the dealer is paying the 1st payment, use 35 months in the calculation, or something else?

Still calculate based on 36 months; dealer makes the first payment.

Thanks - does that imply that for fees normally paid at inception such as the acquisition fee - in this case $595 for Honda - are effectively "residualized" at the residual percentage (36/12 residual - 56% - EX-L) ?

No, the acquisition fee is not residualized. The residual is the MSRP X a set percentage. When you roll the acquisition fee into the CAP cost, you are increasing the CAP cost, while the residual stays the same. So, you are fully paying for the acquisition fee within the depreciation portion of the lease payment.

abc_lease1

Just signed lease for EX-L in NJ for the same deal that a friend got:

36 months/ 10K
$355 due at signing (1st month)
35 more payments of 355 per month
no extra fees, they had to fit them within those 355 per month

adams798

abc_lease1 said:

Just signed lease for EX-L in NJ for the same deal that a friend got:

36 months/ 10K
$355 due at signing (1st month)
35 more payments of 355 per month
no extra fees, they had to fit them within those 355 per month

Wow that seems really low...what dealer is that? I am in CT and the best I can get on a EX is $365 w/first month due including tax.