2013 and earlier-Honda Odyssey Lease Questions

jcolb88

Thanks again for the info kyfdx. I wasn't aware of the $595 acquisition fee, I assume this is added to the negotiated price and not the MSRP. I did tell him that I would pay the up front costs, and He did tell me that I would need $649 due at signing. I think that was for the 1st month payment plus tags and whatever else they throw in there, but I guess it didn't include this aquisition.

nadarashdan

Hey everyone, not sure if I got a good deal or not or to accept it or not. I got a deal after alot of bargainging for an ;07 Odyssey for a 36 month lease for about 370/month (includes taxes and fees), 600 down (includes first car payment and license fees) the other factors are:

Money Factor-.00140

Residual-$16,695.30

Price of the car -$26,253

my email is nadarashdanyahoo.com

comer98

Car_man: Thanks for the info. I was able to put a deal together with a local dealer today for and EX-L (no navi, no res). Here are the details:

Selling Price: 28,754 (invoice)
Cap Cost: $29,381 (inv + acquisition $595 + $32 doc fee)
Residual: 56% (higher than what you had indicated earlier)
MF: .0014
Term: 36mo/12k
Pre-tax pmt: 389.16 (410.56 after 5.5% tax)

$0 down, first payment due at signing.

Thanks so much for your help and to the others who post on the carspace forums!

binky0213

Here's the deal I just got yesterday...

Selling price: 30,200
Cap cost red: $2500
Residual: 52%
MF: 0.0014
36 months/15K

$365/month including tax

I think I got a fair deal but its my first lease that I negotiated myself so I just wanted to see what others thought of the deal????

jpmnova

Anyone out there have any insight as to whether Honda may be doing any special deals (bonus cash, low rates, etc.) for the upcoming Memorial Day Weekend? Not being familiar with Honda - do they do bonus cash on leases ever??

its_a_dry_heat

Greetings to all! I am looking for best deal on lease for 2007 Odyssey EXL (no RES/NAV or dealer installed accessories). Current Regional Lease Special for EXL is 36 month/12,000 miles; 56% residual and 0.00140 money factor. MSRP is $31,690. What is the invoice price that I need to shoot for in my negotiations with the dealerships? I have received several quotes from local dealers and, as expected, the variance in invoice price is all over the place! Before I get to the point of walking out of the negotiation process, what invoice amount should set off bells and whistles in my favor?
Thanks for your input!

cgjacobs

What dealer gave you that price?

binky0213

David Micheal in Freehold...why?

cgjacobs

I am looking for a deal in Southern NJ and wanted to know what dealer gave you that quote. On previous postings, it people seemed to be getting the EX-L w/RES in the low 29,000s.

binky0213

Oh OK. I did some research before I went and knew what price I should get the vehicle for. I paid $1 over invoice and $12 under TMV according to edmunds.com I also did the lease calculator on leaseguide.com and on edmunds and it seems that the negotiated price may even be slightly lower because when I plug in all the needed numbers it gives me a higher payment than what I am paying. It seems that the negotiated cost would be in the area of $29,900. I would have to go over all my paperwork again carefully maybe we did come to a slightly lower number in the final stage of negotiations, I don't really remember, but felt I was getting a pretty fair deal at the time even with the $30,200. I also went to Causeway Honda and they wanted $489 for just an EX with an aftermarket DVD installed. I didn't negotiate with them at all because I knew that number was so far fetched right from the start...I didn't like being taken! All in all, I was very happy with the dealer...they had to search for the color I wanted and they had it within 2 days so that was good too!

cgjacobs

Thanks -- I will have to check David Michael out. Good luck with your van!

mdeuce

pasell3, thanks for the additional info. I did not make it to Boch over the weekend but I plan on speaking to Richard and Keith this week.

Your help is greatly appreciated!

bbecker1

Hi...

Price with Tax / License Fee - 36549 (MD lease tax upfront)
36month / 12K --> $546/month. 1st month due at signing.

Deal ok?

janmazz

Hi all,

I have never leased before and am strongly considering the option to Lease a Honda Odyssey EX-L. I did a lot of research on Edmunds and I'm not sure if it's a good deal and what parts (if any) I should try to negotiate on. Can you provide some guidance?

The dealer gave me a quote worksheet and I've listed the content below on the model and arrangement I'm looking for. I live in Western Mass. Monthly tax is 5.00%. Also, I really want the Ent system but that uped the monthly tp 479.33. Finally, I can't seem to find any dealers locally that have this model in Black. Why is that so hard to find? Thank you so much. I've never leased before and this is a great help!

MSRP - 31,690
LEV % - 54%
Miles - 15k
Lease end value 17,112.60
Term - 36 mos
Initial Cap cost - 29,254
Total add cap cost - 595
cash cap reduction adjusted cap cost - 29849
lease factor - 0.00140
base monthly rental = 419.54
Amount due at start - 845.52
First payment due 6/13/07
Total monthly payment - 440.52

jpmnova

Car man, could you please provide me with the MF's and residuals on an Odyssey EX lease in NY? 12K miles, and would like to compare 36,48,& 60-month leases.
Also, it sounds from other postings that the $750 dealer cash CAN be applied to leases? My dealer told me it was only for purchases. Thanks!!

nadarashdan

Hello, this si the third time I am posting this question with the hopes taht someone out there answer. I was offered for a 2007 Honda Odyssey EX a 36 month lease, 12k per year 370/month and this figure includes ALL taxes and fees. All I have to put down is 600 to pay for first and fees. Is this a good deal? How much would the sales price for the car be in this case? The money factor in this case is 0.0014 and the residual is 16,695. Please ANYONE help me!! I am supposed to start the lease this saturday but want to make sure this a good deal before I do so. Can I get a better deal?? How much better?? Please reply here or to my email at nadarashdan@yahoo.com Thanks!!

its_a_dry_heat

Greetings to all! I am looking for best deal on lease for 2007 Odyssey EXL (no RES/NAV or dealer installed accessories). Current Regional Lease Special for EXL is 36 month/12,000 miles; 56% residual and 0.00140 money factor. MSRP is $31,690. What is the invoice price that I need to shoot for in my negotiations with the dealerships? I have received several quotes from local dealers and, as expected, the variance in invoice price is all over the place! Before I get to the point of walking out of the negotiation process, what invoice amount should set off bells and whistles in my favor?
Thanks for your input!

binky0213

Hi. I don't know if this will help you or not but I will tell you what I got for my deal.

Its an 07 odyssey ex-l with res

MSRP: 33,290
Negotiated price: 30,200 ($1 over invoice)
$2500 down
MF:0.0014
52% residual
residual: $17311
$365/month
36 months/15K

I think it's a little high but i'm NOT an expert at this at all, but feel my deal was fair. You need to know what your negotiated price is...that's VERY important! I personally would NOT sign any deal without knowing what they are selling the car to me for as if you were purchasing it, rather than leasing...the lease should be based off that price. Hope this helps!

nadarashdan

Hello, I don't know how to reach you or Car_man and I really need help with my situation. I was offered for a 2007 Honda Odyssey EX a 36 month lease, 12k per year 370/month and this figure includes ALL taxes and fees. All I have to put down is 600 to pay for first and fees. Is this a good deal? They told me that they are selling me the car at the price of 26,298 (27,800 with taxes and all fees). Yet, whenver I look at the prices on buying the Odyssey they seem much lower. Can I lease an Odyssey at the same low prices that people buy the Odyssey?? The dealerships make me sound like I am crazy and this is already such a low price but somehow I feel that this is not the greatest deal. I sign papers this weekend so please help out!! The money factor in this case is 0.0014 and the residual is 16,695. Do you think I Can I get a better deal?? How much better?? Is there a better time to buy. Please, if you can also pass this onto car_man this would be SOOOO appreciated. Please reply here or to my email at nadarashdanyahoo.com Thanks!!

bigman32

OK...here's the scenario. We still have two months remaining on our Jeep GC lease, but we need to get out of it early due to a growing family. We owe $700 for the payments and a $300 disposition fee ($1,000 total payoff).

This is the deal we struck with the Honda dealership today on a 2007 EX-L with RES (no navigation):

- They wrote us a check for $1,000 to cover the Jeep
- We put a total of $800 down (this included first months payment, documentation fees, etc.)
- 15K miles/year
- 36 month lease
- Total monthly payment is $437 (including taxes, etc.) This also included all scheduled oil changes for the life of the lease through Honda Care

Was this a good deal, or did I get screwed? Thanks!

westtx

Hey there Carman! Can you tell me if Texas is included in the May special for Ody leases? Can you confirm the mf and residual for me please? Lease is about up on the 03 Ody and we are thinking of getting another one.

jplavalle

So they paid you $1000 for your jeep and you put $800 down on the car (including 1st month payment) so do you mean they handed you $637 in actual money and you got the vehicle for 437 a month?? If so, sounds like a pretty decent deal to me. I am going to get my van this week, so I will let you all know, i really want the NAV but dont want to pay for it, oh well.

jplavalle

I suggest you go here
http://www.leaseguide.com/calc.htm
and put your numbers in, that should give you a very good idea on how well you did. MSRP on an EX is 29290 and the invoice is 26834 and with the honda cash I have seen it for about what they quoted you. So check out the calculator, no lying there.

bigman32

Basically, yes. I wrote them a check for $800 (including the first months payment of $437), and they wrote me an actual check for $1,000. The lease is for 36 months and 15,000 miles/year on a 2007 EX-L with RES. The $437 also included all oil changes for the life of the lease. This added $5/month to the payment, but by my calculations should save me over $200 (assuming I need to do 10 - 12 oil changes at roughly $30/service). I was hoping to come out with closer to a total payment of $400/month, but I guess with them paying off my Jeep, the deal was pretty good.

westtx

Oh, Carman, I should also mention that I am looking for numbers on an Odyssey EX at 36 or 48 months with 15k per year...sorry for omitting that earlier.

96gator

Can anyone please answer this. I am negotiating with several dealers and a lot of them are telling me that I need to make a deal before end of month since lease deals are likely to get worse. Is this just a sales line or is there generally any truth to that? I really don't need to make a deal until end of June when my lease is up, but wondering if I am better off making a deal now.

Any insight would be appreciated.

peko

Can anyone recommend a great dealership/person in NY/NJ area and what you paid for an EX-L?

Thanks so much.

nadarashdan

Just wanted to let you know that all the current lease specials are effective until July 2nd. What my husband and I did because we dont want to start paying until August 1st, we signed a contract to pick up the car July 1st (since special ends July 2nd) and we paid the deposit (first month payment and fees) and the car is parked with a sold sticker and ours until we pick it up in July. This way we didnt have to start making payments and we got to take advantage of the lease special AND if the specials get better before then, we get to take advantage of that too. But don't worry about the current special goinng - you have until July 2! The only think you have to worry about is inventory as the new Odysseys are supposedly coming out in September so the longer you wait the less choice you have if you want a good deal on an '07. GOODLUCK!!

hartt

I just saw on another site that the money factor for an Odyssey is now .00275.
I thought it was .00140. Which is it?

TBH

nadarashdan

What site did you find that on??

cbsprings

I have a 2004 Odyssey EX-RES that I have been leasing for 199.00 per month at 15,000 per year initially for 2yrs(extended it to 3yrs). It currently has 41,000 miles and my lease can renew on the 22nd of June, 2007. The residual value is now 18,006.84 I can't decide whether to keep this deal or get a new lease.
The car runs fine,although I probably will need tires soon,and maybe brakes at some point. I used to live in NH and moved to MD so I had to pay 5% tax on the purchase price to register it again last year! NH has no excise tax so MD gets you for it when you register a car here.
A new lease means I will have a big registration fee and an increase in my monthly car payment. I need advice on a great
deal for a similar Odyssey that would be worth switching to,
otherwise I may keep it for one more year till my registration runs out. Any advice would be appreciated. I realize my payment won't be 199.00 but I am not willing to pay over 400.00 per month for this vehicle. I saw an LX ad on TV for 279.00. Also I don't know if I can find a deal with no money down or very little down. I live near Frederick, MD(30 minutes outside DC)if you have any dealers in the area that you can recommend that would be appreciated.

hartt

Roadfly

hartt

Can anyone confirm that the money factor on a 3yr lease of an Odyssey is now .00275? Car_man?? Do you know?
We have to turn our CRV in on Friday and we were planning to lease a new Odyssey. With that money factor and the quotes I have received, that puts the payment over $500. Too much for me.

TBH

bbecker1

Just brought an 07 Tour with NAV.
Money Factor was .0014
36month / 12K Residual was 52%

This was out of MD.

My negoiated price was 1000K below invoice.

jplavalle

Well, finally done, I got the EX-L with RES.
MSRP = $33290
My Price = $30000(400 below invoice)
53% Residual
Money Factor = .00167 (4% interest)
36 Months
7% Tax here in NJ
my payments including tax are 460 per month, note that
they would have been 452.39 but I took the car care which gives you free oil changes and tire rotations for lease term.

This was a 0 down lease, I paid $1,000 for first month payment and tax,title,and a little cap cost reduction.

Good Luck all, see you again in 3 years!
By the way, take the numbers from this site with you on paper when you go in and hand it to the salesman and dont budge, they will match these numbers.

bigman32

That sounds like a good deal. How many miles/year did you get? We recently leased an '07 EX-L w/RES as well. Our deal was:

- 15,000 miles/year
- 36 month lease
- $800 total due at signing (included first months payment)
- Cash back of $1,000 (they paid off the remaining balance of my Jeep lease)
- Monthly payment of $437. This also included the oil changes and tire rotations for the life of the lease. It added $5/month to the payment, but I did the calculations, and it should save me close to $200 over the life of the lease.

I believe the residual on mine was 52%, and the money factor was 0.0014 (3.3%)

cbsprings

where in maryland did you lease your Odyssey and do you have to pay a MD lease tax amount in this state upfront?

binky0213

i recently got a odyssey ex-l w/res at david michael in freehold.

-15,000 miles/year
-36 month lease
-$2500 total at signing (included 1st month payment)
-monthly payment of $365
-residual 52%
-money factor 0.00140 (3.3%)

They offered me the oil change and tire rotation but I declined it.

bbecker1

It was in Clarksville MD...
The sales tax of the entire car has to be paided up front...

Bottom line...
I am paying $565 a month for 36mon / 12k miles with NOTHING down.

This is for an Touring with Nav and some other small accesories like Moon Roof Visor / Mud gurards / Trim guards/ Wheel lock / and AUTOSTART

matt2324

We've been holding out in hopes that a good lease deal for a new Odyssey would come out last year, during the summer, or hopefully this Fall. We've got an 04 EX-Res that we got on Labor day in 04 for around 24 months, $360/month, with a residual around 18k. I've been checking since last fall, and haven't seen anything under $500/month around here. I've read where various states are selected for lease deals and others get % rates for purchase. Is there a light at the end of the tunnel here in Alabama? If not, we'd be happy to go up to Tennessee, Georgia, or even Mississippi if that's what it took to get a good lease deal on an Ody.
Thanx for any info!

jplavalle

15k miles, i think i could have done a little better if my credit score was higher. i figured the oil changes and tire rotations are always a good thing, and if I dont have to (or more specifically if my wife doesn't have to) put any money out to do them, then its worth it, plus i figure they could spot if something was wrong with the vehicle while it was there.

mgurrola

I was at a dealer near Austin, TX yesterday and on a three year the Money Factor was .00275.

peko

According to the dealer I just leased my car in NJ says money factor and residual value MIGHT change every month. There is no way of knowing. But, money factor in NJ is .0014.

cbsprings

Thanks for the reply.

hartt

Hi Car_man. Can you please provide the MF and residual for the Odyssey. I'm looking at both the EX and EX-L/RES for 3yrs/45K miles.
Thank you.

TBH

helpme15

I need a van in June. The first dealer wanted $470/month for EX /15k/year, 1000 down, 42 month lease. I thanked him and left!!! Is it realistic to get $350 + tax in NJ (36 or 42 months, I'm willing to put 1000/2000 down?
Thanks a lot!!!

jpmnova

helpme15, I just leased an EX in NY for $392/mo with nothing down except 1st payment + DMV fees. My taxes are rolled into the payments. With $1,000-$2,000 down, I'd say you can definitely get to $350+tax on a 36-month lease. In fact, mine would be about $340 had I put down $2K (incl tax).

nadarashdan

Hello there - Helpme - I was able to lease an EX in Ohio for 370/month with nothing down but first downpayment and DMV fees and that includes tax as well. I think that 350 without taxes is reasonable (should be around 370 with tax, maybe a little more) with NOTHING down.

helpme15

Thanks for your feedback. Which dealer did you use? I used to live in Westchester.

peko

Helpme 15,
I justed leased an EX-L without Nav or DVD for $345 a month for 36 months/ 12K miles per year. I put down first month, tax, DMV, doc fee and bank fee of $2200. Go to MetroHonda.com website, they are located in Jersey City, NJ. Get an internet quote but they will call you and email you to come down instead. They are very pesistant so let them call you few times before going down. Make sure you shop around and go in with your lowest price and I'm sure they will beat it. They are pretty agressive and want to sell you a car. Good luck.