2017 Honda Odyssey Lease Questions

kbill07

Can you post the lease rebates in Ohio for Exl-res, touring and Elite.  

kyfdx

catski2012 said:

Hi - what am I missing here? I am emailing with a dealer about a 36 month/12000 mile lease on a 2017 odessey ex-l (no nav or entertainment). He just provided number to flesh out the discussion.  My proposal has me paying 660$ at signing vs his which is $4000 at signing.

Hello Cathy,

Based on the True Market Value you suggested with $33,025 your payments would be more. The True Market Value doesn't include the $595 acquisition fee, $300 processing fee and the $149.50 in tag and title and state taxes.

Here is the breakdown of the fees and how they correlate with the payment :

Your offer :

Sales Price w/ Destination : $33,025
Acquisition Fee : $595
Processing Fee : $300
Tag and Title : $149.50
Grant Total : $34,069.50  ( Gross Cap Cost )
Sales Tax : $1,390.72
Cap Reduction $4,000
Net Cap Cost : $31,460.22

Payment : $333.98 a month

My offer :

Sales Price w/ Destination : $31,566.89
Acquisition Fee : $595
Processing Fee : $300
Tag and Title : $149.50
Grant Total : $32,611.39  ( Gross Cap Cost )
Sales Tax : $1,330.94
Cap Reduction $4,000
Net Cap Cost : $29,942.33

Payment $290 a month

Hopefully this answers all of your questions. What time can we meet tomorrow?

I'm offering you an amazing deal !!!

What is the MSRP?
Term and mileage?
Which trim?

catski2012

Hi msrp on website is 37k but it is crossed out. 
Term and miles: 36mo, 12k
Trim: ex-l 

I think I figured it out - he added the 4K cap cost reduction (aka money from me, right?) to both estimates - but my estimate (the top one) included a cap cost reduction of 660 only (1st and last mo). When I run the numbers that way, in my example I end up paying 1844 less AND I put way less down. 

Any thoughts/comments? Thanks in advance!

catski2012

Also - are there any lease rebates for Bethesda MD? (That is where dealer is. I am in Alexandria va). What is MF and residual? Thank you!

kyfdx

catski2012 said:

Also - are there any lease rebates for Bethesda MD? (That is where dealer is. I am in Alexandria va). What is MF and residual? Thank you!

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

With ZERO CAP reduction, his deal is $440/mo.

I can't see the offer you made him, as you've only listed his response. Either way, apples to apples, a lower selling price is going to result in a lower payment. You reference your offer/calculation, but you don't provide it.

Also, what is the exact full MSRP? Is it $37000 even? Details are important.

catski2012

Hi, thanks for your reply! Here was the offer I made him:

17 odyssey ex-l

Smokey topaz metallic

Based on true market value of $33025 (from Edmunds)

-660 at signing (first and last)

-330/month 

- total lease cost 11880 including destination fee

-36 month/12000 miles

***You advised that a lower selling price means a lower lease - but not if I am putting more money down, right? Isnt that what constitutes the cap cost reduction? The smoke and mirrors here is where the cap cost reduction is coming from - is it from me paying money upfront, he dealer giving me lease cash, etc, or a combination of both? Also - I really don't know how the MF and residual impact the numbers above. 

catski2012

MSRP 37440

kyfdx

catski2012 said:

MSRP 37440

Okay... his payment with ZERO cap cost reduction would be $406/mo.

The monthly calculation you made on your offer is incorrect, as it doesn't include any of the lease finance charges. Or tax, or acquisition fee or dealer/dmv fees.

The dealer showed you both calculations with the same CAP cost reduction, so you would see apples to apples. You can ask him to structure it with any amount upfront that you want. But, you aren't calculating it correctly, so you went into it with an unrealistic expectation, as far as the payment.

(also, you don't pay last payment upfront on a lease).

His deal looks pretty good. If you want to only pay first payment at signing, the price should be $406/mo.

catski2012

Thank you much. I read somewhere that it is best not to put much money down on a lease. True?

Michaell

catski2012 said:

Thank you much. I read somewhere that it is best not to put much money down on a lease. True?

True. Any money you put down would be lost if the car is stolen or totaled before the end of the lease.

And, it masks the true monthly cost.

07pilot4me

hello,

looking to lease a 2017 Odyssey SE or EX 12K/36 months. I'm a total newbie at leasing so please bear with me. Where do I even start with the negotiations (there seems to be no current lease deals in my area), I live in Sacramento Ca. what do the terms MF and % residual mean.. I read somewhere that a target of 1% monthly payment of MSRP is a good price.

any advise appreciated

Michaell

07pilot4me said:

hello,

looking to lease a 2017 Odyssey SE or EX 12K/36 months. I'm a total newbie at leasing so please bear with me. Where do I even start with the negotiations (there seems to be no current lease deals in my area), I live in Sacramento Ca. what do the terms MF and % residual mean.. I read somewhere that a target of 1% monthly payment of MSRP is a good price.

any advise appreciated

I suggest you look at the articles on this link:

https://www.edmunds.com/car-leasing/

schmegl

Can you provide me with the July MF, Residual, and Lease Cash, and incentives for a 36/12 EX-L in South Florida?

Thank you!

Michaell

schmegl said:

Can you provide me with the July MF, Residual, and Lease Cash, and incentives for a 36/12 EX-L in South Florida?

Thank you!

The June program for Honda is set to expire today.

July numbers should be available later this week.

buzaggie

Hello. Any update on July #'s for a 2017 Honda Odyssey Lease?

SE
EX
EX-L

Residual? Lease cash? Incentives? 36/12 in Utah.

Thank you!

kyfdx

buzaggie said:

Hello. Any update on July #'s for a 2017 Honda Odyssey Lease?

SE
EX
EX-L

Residual? Lease cash? Incentives? 36/12 in Utah.

Thank you!

.00119 MF
$750 dealer cash on SE/EX, $900 on EXL
$1000 lease cash on all.
56%/55%56% residual, respectively.

The 2017 Odyssey lease program expires on 07/31

ajw78

Hi, what are the July numbers for Touring and Touring Elite, 36 mo/ 12k, CA? Thanks.

kyfdx

ajw78 said:

Hi, what are the July numbers for Touring and Touring Elite, 36 mo/ 12k, CA? Thanks.

.00119 MF
$2500 incentive
52% residual for either model.

This program is only good through 07/31.

twins_needvan

Good afternoon, what are the July #s for 2017 EX-L, Touring and Touring Elite, 36/12, in Atlanta, GA?
Thanks

Michaell

twins_needvan said:

Good afternoon, what are the July #s for 2017 EX-L, Touring and Touring Elite, 36/12, in Atlanta, GA?
Thanks

.00119 and 52% (Touring, Touring Elite) or 56% (EX-L, w/o Nav or RES)

$2500 lease incentives

mtiddaedmunds

Any new information for August yet, now that the July deals are over? My Odyssey lease is up this month and I'm trying to figure out if I should go for another Odyssey or switch to a Pilot. Hoping there will be a great deal on the 2017's this month!

gmoney020573

With very few 2017s left I tried hard to get a good deal on an EXL but none of the dealerships were willing to budge. I did get one dealership to go down to price if $31,440 on EXL with msrp of 37,440.

was looking for a 36 mo 12k zero drive off lease. Our tax rate is 8.25%. I used the residuals provided here along with money factor and at the time just the $1000 lease incentive, didn't even see the $2500. I came out to payment of around $390 with drive off and first payment rolled into 35 payments so I'd put zero drive off... or the calculator I used had it at $360 including tax with drive off of about $850.

not a single dealership was willing to go under $400. I am in Southern California. Was my math off? Or they just knew nobody would want to lease a 2018 now without any programs available so they can jack up prices on the 2017s? At this point I probably should just wait for 2018s to start leasing at normal prices. I had dealerships quoting me $700 payments on zero drive off lease for exl.

kyfdx

mtiddaedmunds said:

Any new information for August yet, now that the July deals are over? My Odyssey lease is up this month and I'm trying to figure out if I should go for another Odyssey or switch to a Pilot. Hoping there will be a great deal on the 2017's this month!

No info on 2017 Odyssey leases

leasack

Can you give me numbers on 2017/2018 Honda Odyssey LX 12k/36 in 60076 area code. thanks in advance

brigopens

Looking for info on 2017 Honda Odyssesy EX or EX-L 12K/36 in 75034 area code. Hoping to see some August deals since I missed the 0.9% financing.

Michaell

leasack said:

Can you give me numbers on 2017/2018 Honda Odyssey LX 12k/36 in 60076 area code. thanks in advance

2017 - .00119 and 54%
$2350 total incentives

2018 thread is here:

https://forums.edmunds.com/discussion/45631/honda/odyssey/2018-honda-odyssey-lease-questions#latest

Michaell

brigopens said:

Looking for info on 2017 Honda Odyssesy EX or EX-L 12K/36 in 75034 area code. Hoping to see some August deals since I missed the 0.9% financing.

.00119 and 55% (EX) or 56% (EX-L)

$2350 incentives on EX; $2500 on EX-L

kyfdx

Michaell said:

brigopens said:

Looking for info on 2017 Honda Odyssesy EX or EX-L 12K/36 in 75034 area code. Hoping to see some August deals since I missed the 0.9% financing.

.00119 and 55% (EX) or 56% (EX-L)

$2350 incentives on EX; $2500 on EX-L

2017 Odyssey lease programs ended on 07/31. Not certain the lease program is valid for August

bhann73

Hello!  Can anyone provide me the MF and resid for a '17 Odyssey Exl 36 mo and 15k mi?  Cap cost is $32,556 Thank you!

Michaell

bhann73 said:

Hello!  Can anyone provide me the MF and resid for a '17 Odyssey Exl 36 mo and 15k mi?  Cap cost is $32,556 Thank you!

There doesn't look to be a 2017 Odyssey lease program for August - the last program expired on 7/31.

S_Macgyver

Can anyone provide the MF and RV on 2019 odessey?
36/12
Ex
ExL
36/15
Ex
ExL

Thanks

Michaell

S_Macgyver said:

Can anyone provide the MF and RV on 2019 odessey?
36/12
Ex
ExL
36/15
Ex
ExL

Thanks

Sure … if you repost in the 2019 thread, here:
https://forums.edmunds.com/discussion/50964/honda/odyssey/2019-honda-odyssey-lease-deals-and-prices#latest