2017 Honda Odyssey Lease Questions

kyfdx

biscuitking said:

Hi, I was offered the following for a 2017 Odyssey EX-L in 30319. I can't seem to get to the same monthly payment that the dealer is quoting me. Can someone help?
MSRP $37,440
Sales price $33,505, less $1,000 lease cash = $32,505 net
Residual Value 59%
MF .00119
Doc fees, state lemon laws, license/registration, etc = $775
Acquisition fee = $595
GA state sales tax 7% (must be paid up front or rolled into cap cost, per the dealer)

Monthly payment - $508 (assuming no trade-in), $400 (assuming trade-in credit of $3,000)

When I try to calculate this myself I get lower numbers. any help appreciated!

I estimated $2415 for tax.. and got $464/mo.

jkcdnrr

MF and RV for 2017 LX in 92024?

Michaell

jkcdnrr said:

MF and RV for 2017 LX in 92024?

What lease term and how many miles per year?

jkcdnrr

whoops - 36/12 for RV and MF

rookie question - I am looking at the honda website and the current offer for Oydessy LX with $1999 down looks like 53% RV, .0003 MF and negotiated price of $27038. I am new to this and wondering if this deal matches or exceeds what I could expect to negotiate?

Michaell

jkcdnrr said:

whoops - 36/12 for RV and MF

rookie question - I am looking at the honda website and the current offer for Oydessy LX with $1999 down looks like 53% RV, .0003 MF and negotiated price of $27038. I am new to this and wondering if this deal matches or exceeds what I could expect to negotiate?

The .00030 MF is for the 2016 Odyssey. For 2017, the MF is .00119

57% residual on the LX, along with $1000 bonus lease cash

With better than average negotiating skills, you should be able to beat that price.

club619

Looking to see April numbers for 2017 EXL with RES for 36/10 in 75070. Thanks!

kyfdx

club619 said:

Looking to see April numbers for 2017 EXL with RES for 36/10 in 75070. Thanks!

.00119 MF and 58% residual for 36/12. (no 10K for Honda)
$1000 lease cash

zzmmmommy

 I am sorry to sound so stupid but I am looking to lease a Honda Odyssey Exl, no RES.  This will be my 3rd one and after reading all of the above I realize how uneducated I have been! So...before I agree to anything I am definitely going come back here to ask your advice...
what numbers do I need to leave the dealership with to give you to make sure I am getting the best price?
thank you!!

Michaell

zzmmmommy said:

 I am sorry to sound so stupid but I am looking to lease a Honda Odyssey Exl, no RES.  This will be my 3rd one and after reading all of the above I realize how uneducated I have been! So...before I agree to anything I am definitely going come back here to ask your advice...
what numbers do I need to leave the dealership with to give you to make sure I am getting the best price?
thank you!!

We need to know the following:

MSRP
Negotiated selling price
Amount due at signing, and what that covers
State and tax rate

zzmmmommy

Selling price- 38935
msrp - 39440
amount due at signing- 1800
state is Florida
$567 month for 36 months, 15k

Exl with nav

this seems extremely high. I have the 2016 now and pay 515- this doesn't even include rolling in these payments (I am WAY over my miles)

zzmmmommy

Now I got them down to $499, 12k, 36 months and $500 down- this includes trading in my car with 15 payments left...$515 and I'm already at 32k miles.
what do you think? 

Michaell

zzmmmommy said:

Selling price- 38935
msrp - 39440
amount due at signing- 1800
state is Florida
$567 month for 36 months, 15k

Exl with nav

this seems extremely high. I have the 2016 now and pay 515- this doesn't even include rolling in these payments (I am WAY over my miles)

.00119 and 55%

$1000 bonus lease cash - therefore, you aren't getting much of a discount off sticker.

Using your prices, I get $551/mo plus tax.

Work on getting a better price.

Michaell

zzmmmommy said:

Now I got them down to $499, 12k, 36 months and $500 down- this includes trading in my car with 15 payments left...$515 and I'm already at 32k miles.
what do you think? 

What is the selling price on that quote.

I suggest you do a bit of research on your existing van - get the current payoff from Honda and get a trade in value from a local CarMax. My guess is that the dealer is taking your car in trade, not paying off the remaining payments.

zzmmmommy

Yes- my car pay off is $29,000 and they valued it at $26000. I had it appraised at Toyota also (just to see prices at sienna) and they came back with the same value. You think the $499 still seems high still? 
I guess my fault in that I was so concerned with getting the monthly payments down that I didn't ask what numbers they were using, I just kept focusing on the monthly bill.

Michaell

zzmmmommy said:

Yes- my car pay off is $29,000 and they valued it at $26000. I had it appraised at Toyota also (just to see prices at sienna) and they came back with the same value. You think the $499 still seems high still? 
I guess my fault in that I was so concerned with getting the monthly payments down that I didn't ask what numbers they were using, I just kept focusing on the monthly bill.

That $3000 of negative equity is adding about $85/mo to the payment.

This is a classic issue with leasing - the dealer gives you a payment amount that is in your budget but you don't have the details behind that number.

We always recommend negotiating the seller no price, just like on a purchase. And make sure you understand all the fees and such that exist.

zzmmmommy

Ok- so let me go back today and get all the numbers from him. I'll get back to you. Thank you!!

zzmmmommy

Okay...here are my numbers:
Exl with nav 

Msrp 39440

My price: 36249.93

1000 rebate

State of Florida- 

515.01 month, 12k miles, 36 months

29000 for trade/ I owe $29500

kyfdx

zzmmmommy said:

Okay...here are my numbers:
Exl with nav 

Msrp 39440

My price: 36249.93

1000 rebate

State of Florida- 

515.01 month, 12k miles, 36 months

29000 for trade/ I owe $29500

If I add $500 negative equity, plus $595 acquisition fee, then subtract the rebate, I get $455/mo.+tax.

How much is due at signing?

zzmmmommy

$500 due at signjng

kyfdx

zzmmmommy said:

$500 due at signjng

You probably have a big dealer fee in there, as well.
The only way to know for sure what you are paying, is to ask for the adjusted CAP cost.

The first payment is $515, and you only have $500 due at signing?

zzmmmommy

Yes- first payment is due in 30 days and $500 at signing. 
So what do I do? I go in and tell them the numbers don't match up? 

zzmmmommy

I'm not sure how the numbers keep changing every time I go back...
Msrp- 39440
residual - 57%
Selling price - 36412.93
acquisition - 595
trade in- -561 (negative)
total cap reduction - -561 (negative)
adjusted cap cost - 37,568.93
lease rate - 0.00119
term 36 months
base monthly - 490.57
tax - 6% - 29.43
total monthly payment - 520

windows: Ann fees 175
initial fees: 900.45

drive off: 1649.36
apply to cash: 520
front end gross: -1630.30 (negative)

kyfdx

zzmmmommy said:

I'm not sure how the numbers keep changing every time I go back...
Msrp- 39440
residual - 57%
Selling price - 36412.93
acquisition - 595
trade in- -561 (negative)
total cap reduction - -561 (negative)
adjusted cap cost - 37,568.93
lease rate - 0.00119
term 36 months
base monthly - 490.57
tax - 6% - 29.43
total monthly payment - 520

windows: Ann fees 175
initial fees: 900.45

drive off: 1649.36
apply to cash: 520
front end gross: -1630.30 (negative)

Well, at least this is a comprehensive accounting.
And, the numbers add up.
The only thing of note is the "initial fees".
There is a big dealer fee hidden in that $900, which is typical for Florida.

So, you have $1649 due at signing, right?

zzmmmommy

No- they are signing I pay $500 at signing.

kyfdx

zzmmmommy said:

No- they are signing I pay $500 at signing.

Looks okay from here, then.

zzmmmommy

Just an update- in case anyone cares (ha ha). When the car finally came in and I went to sign and drive my sales guy had the day off and the manager we were working with. They told me not to worry, the sales team and manager on duty had everything...well, now the price went from $515 a month to $520 and my $500 down increased to $1649. I left the dealership. Back to the starting line.
sorry to be such a pest and thank you for all your help!

Michaell

zzmmmommy said:

Just an update- in case anyone cares (ha ha). When the car finally came in and I went to sign and drive my sales guy had the day off and the manager we were working with. They told me not to worry, the sales team and manager on duty had everything...well, now the price went from $515 a month to $520 and my $500 down increased to $1649. I left the dealership. Back to the starting line.
sorry to be such a pest and thank you for all your help!

Good for you on walking out. Lots of folks would have signed out of resignation.

I know it's not fun, but you've got a real clear idea of what your numbers should be. Lots of Honda dealers out there; only takes one to meet those numbers.

kyfdx

zzmmmommy said:

Just an update- in case anyone cares (ha ha). When the car finally came in and I went to sign and drive my sales guy had the day off and the manager we were working with. They told me not to worry, the sales team and manager on duty had everything...well, now the price went from $515 a month to $520 and my $500 down increased to $1649. I left the dealership. Back to the starting line.
sorry to be such a pest and thank you for all your help!

In retrospect, that's exactly the deal you posted above. You asked for all of the numbers, and that's what they gave you in print.

zzmmmommy

Except that they had agreed to $515, not $520 and $500 down, not $1649. The conversation was told to me that I would pay $500 down and to ignore the $1649 number...then when I went in and it was a different sales guy and manager they said oh no, you have to pay the $1649. That doesn't feel right. You shouldn't be able to switch just like that. 

kyfdx

zzmmmommy said:

Except that they had agreed to $515, not $520 and $500 down, not $1649. The conversation was told to me that I would pay $500 down and to ignore the $1649 number...then when I went in and it was a different sales guy and manager they said oh no, you have to pay the $1649. That doesn't feel right. You shouldn't be able to switch just like that. 

Okay, but you asked for the actual numbers and they put them in print. Wait till your guy is working again, and tell him what happened. Then, see what he says.

zzmmmommy

I will. I also went and looked at the Chrysler Pacifica- very nice!!! But I am going to wait and see what the salesperson comes back to me with...and maybe compare with the Pacifica. 

zzmmmommy

I went with the Pacifica. I got a much better deal (i think) and lowered my payments - I feel better about it. I can't tell you how much I appreciated all of your help...thank you, thank you, thank you!!

Michaell

zzmmmommy said:

I went with the Pacifica. I got a much better deal (i think) and lowered my payments - I feel better about it. I can't tell you how much I appreciated all of your help...thank you, thank you, thank you!!

You're welcome, and congrats!

schmegl

What is the MF, Residual, and Lease Cash for a 36/12 EX-L in South Florida?

Thank you!

kyfdx

schmegl said:

What is the MF, Residual, and Lease Cash for a 36/12 EX-L in South Florida?

Thank you!

.00119 MF and 59% residual
$1000 lease cash

lvl_112

Can I please get the MF, residual, and lease cash for 36/12 Touring Elite in NC?

Michaell

lvl_112 said:

Can I please get the MF, residual, and lease cash for 36/12 Touring Elite in NC?

.00119 and 55%

$1000 lease cash.

lvl_112

Michaell said:

Can I please get the MF, residual, and lease cash for 36/12 Touring Elite in NC?

.00119 and 55%







$1000 lease cash.

Thank you.  

Dealer is saying no lease cash.

MSRP $46265
Adjusted Price 42050
Accessories 895 (mud guards, nitrogen, wheel locks) lol
Total Purchase 42945
Taxable Fees 699
Tax 20.97
Non Tax 218
Balance 43882.97

MF .00119 55% 36/12

3K down  $560 per month

Besides the accessories, good deal?

Michaell

lvl_112 said:

Michaell said:

Can I please get the MF, residual, and lease cash for 36/12 Touring Elite in NC?

.00119 and 55%









$1000 lease cash.

Thank you.  

Dealer is saying no lease cash.

MSRP $46265
Adjusted Price 42050
Accessories 895 (mud guards, nitrogen, wheel locks) lol
Total Purchase 42945
Taxable Fees 699
Tax 20.97
Non Tax 218
Balance 43882.97

MF .00119 55% 36/12

3K down  $560 per month

Besides the accessories, good deal?

My guess is the lease cash is built into their offer.

What does the $3000 at signing cover?

With your numbers, I get $595/mo pus tax.

zerosky200

Do you have numbers for 2017 EXL 12k/36 in S. Cal?  Is there any lease cash? Thank you!

kyfdx

zerosky200 said:

Do you have numbers for 2017 EXL 12k/36 in S. Cal?  Is there any lease cash? Thank you!

.00119 MF and 58% residual
$900 dealer cash + $1000 bonus lease cash

pbear007

kyfdx said:

Do you have numbers for 2017 EXL 12k/36 in S. Cal?  Is there any lease cash? Thank you!

.00119 MF and 58% residual


$900 dealer cash + $1000 bonus lease cash

Is this Nationwide or SoCal specific?  

Also, can you give numbers for 36/12 and 24/12 

Michaell

pbear007 said:

kyfdx said:

Do you have numbers for 2017 EXL 12k/36 in S. Cal?  Is there any lease cash? Thank you!

.00119 MF and 58% residual



$900 dealer cash + $1000 bonus lease cash

Is this Nationwide or SoCal specific?  

Also, can you give numbers for 36/12 and 24/12 

Honda numbers are national.

64% for 24/12

lefty26

Hi
Could you please list the money factor, residual and any available lease cash for 2017 odyssey LX
36/10 and 36/12 in NJ 07746
Thank You

kyfdx

lefty26 said:

Hi
Could you please list the money factor, residual and any available lease cash for 2017 odyssey LX
36/10 and 36/12 in NJ 07746
Thank You

.00119 MF and 56% residual for 36/12.
$750 dealer cash + $1000 bonus lease cash
Add 1% for 10K/yr, if available in your area.

pbear007

How about the Elite Touring, 36/12 and 36/15.  Any incentives?  Thanks!!!

Michaell

pbear007 said:

How about the Elite Touring, 36/12 and 36/15.  Any incentives?  Thanks!!!

.00119 and 54% or 52%

$900 dealer cash and $1000 bonus lease cash

tumbleweed1313

Hi, new to leasing and want to give it a go without getting taken advantage of. Looking at 2017 Odyssey SE - dealer dropped price from MSRP $34,890 to $30,481.

Could you please list the money factor, residual and any available lease cash for 36/12 in VA 20191?

He gave me a $283.00 month and didn't say if that was with $2k or $2.5k down.

Also said for the EX-L $37,440 dropped to $32,650 for $299 mo. And trying to decide if the extra is worth it.

The cash down would be more with tax/title/tag of course. (sounded like around $4-4500 cash needed out the door).

New to this, so any info is helpful! Thank you so much for your time.

Michaell

tumbleweed1313 said:

Hi, new to leasing and want to give it a go without getting taken advantage of. Looking at 2017 Odyssey SE - dealer dropped price from MSRP $34,890 to $30,481.

Could you please list the money factor, residual and any available lease cash for 36/12 in VA 20191?

He gave me a $283.00 month and didn't say if that was with $2k or $2.5k down.

Also said for the EX-L $37,440 dropped to $32,650 for $299 mo. And trying to decide if the extra is worth it.

The cash down would be more with tax/title/tag of course. (sounded like around $4-4500 cash needed out the door).

New to this, so any info is helpful! Thank you so much for your time.

.00119 and 58%

$750 dealer cash and $1000 bonus lease cash.

With your prices, I get $345/mo.

Ask the dealer for the adjusted cap cost.

VA taxes the entire selling price - we suggest you roll that amount, plus all the fees, into the lease payment.

a_train96

Looking at a 2017 Touring 36/12 in 27401 (NC). Could you please list the money factor, residual, and any available lease cash? 

Thank you so much for your help!