2013 and earlier-Honda Odyssey Lease Questions

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  • hmomexhmomex Member Posts: 34
    jen0333:

    Wow, if this deal is with 0 down payment, it seems to be a great price, who's your dealer?
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  • raja4raja4 Member Posts: 8
    Hi,

    Yep thats true, today when i signed up all the documentation, now the dealer is telling me that due to insuffcient credit history he is keeping me into preferred customer which tops up the payment up $30, Iam considering to buy the vehicle instead of leasing it.

    Thanks
    raj
  • hmomexhmomex Member Posts: 34
    Hi,

    I'm replacing a 2005 Odyssey Touring with a lease expiring at the end of the month (19k balance)

    I just got a couple of offerings from the Phoenix AZ area, pretty close both.

    $1747 due at signing and $438 for 36 months, this includes tax
    or
    $1747 due at signing and $440 for 36 months, also includes tax

    Any comments about this deal, I want to sign this weekend.
  • lonestar98lonestar98 Member Posts: 48
    dmac

    i'm out here in california, so i don't know that it would apply to you in chicago, but most dealers i contacts were in the same range. for example, anderson honda in palo alto. i'm going to be refreshing my quotes soon, just to see where the prices are.
  • anthony20anthony20 Member Posts: 1
    We are in the process of leasing for the first time. This is a whole new ball game for us and we want to make sure we're getting the best deal. Any help would be appreciated. Here's the current offer we have right now:

    FEATURED SPECIAL LEASE: Closed-end lease for 2008 Odyssey LX Automatic Transmission (Model RL3828EW) for $259.00 per month for 36 months with a $1,645.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,499.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee and capitalized cost reduction; with no security deposit. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify

    Is it possible to negotiate the price or the down payment??
    Thanks,
    Anthony
  • tmniztmniz Member Posts: 1
    want to lease 15000 miles a year 36 mos. What is the lowest lease price anyone has been able to get. Quoted 490 mo 1000 down. Seems little high. Any advice will be truly appreciated. I want to get the best price possible.
  • milt7696milt7696 Member Posts: 13
    MSRP $ 34445
    Inv $ 31247
    Resid 57%
    MF .00113 (2.71%)

    Total Cap Cost $ 30197
    Payment: $350 / month before taxes
    36months 12k miles/year
    First payment + $125 doc fee out of pocket
    Does this sound like a good deal?
  • radresradres Member Posts: 3
    Hi,

    In the upstate NY area looking to lease a 2008 Odyssey EX-L with RES. Sat down with a dealer today who provided the following:

    36 mths, 12,000 miles/yr
    MRSP = $34445
    Net cap = $31247 (invoice)
    57% residual = $19633.65
    MF = 0.00123
    $0 down, but pay $689 for 1st mth, title, etc.

    So with the above numbers, they came up with a monthly payment of $438.98; however, using the equation I've seen on this forum:

    P = [(c-r)/t] + [(c+r) *m]

    I get a monthly payment of $385. The salesman had no explanation for the $100 discrepancy and said my formula is wrong. What gives?

    Also, does anyone know why the residual is calculated from the MRSP instead of the net cap? I'm not complaining since it lowers the monthly payment, but it doesn't make sense to me.

    Thanks,
    RadRes
  • kyfdxkyfdx Moderator Posts: 268,120
    Residual % X MSRP... Why?

    Joe negotiates a price of $31K for his Odyssey..

    Bill negotiates a price of $32K for an identical Odyssey..

    Joe and Bill's Odysseys will be worth the same amount at lease end.. If you don't use MSRP, you would have two different residuals..

    Payment discrepancy: Are you sure your net cap figure includes everything? Taxes and acquisition fee?

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  • jcalhounjcalhoun Member Posts: 1
    Anyone have an idea as to what is expected to happen to Odyssey lease deals once we flip the calendar to March?
  • radresradres Member Posts: 3
    Thank you... that explains the residual.

    As for taxes, are they based on the negotiated price minus residual? Otherwise you pay taxes on a large chunk of vehicle time that you won't be using.

    Thanks,
    RadRes
  • kyfdxkyfdx Moderator Posts: 268,120
    Taxes depend on your state.. States calculate lease taxes in about four different ways... Which state are you in?

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  • deejay2099deejay2099 Member Posts: 37
    Hello all,
    I have a quote from a local Atlanta dealer for a no money down, 36 month, 12K mile lease of $338. This is for an Odyssey EX (no leather, RES or NAV). Just sign and drive and make 35 payments of $338, tax included.
    This seems like a good deal, what do you all think?

    Thanks much.
  • bwjambwjam Member Posts: 2
    OK, we are new to leasing, and I admit that despite reading a lot on here I still don't "get" all these leasing and buying terms. I know I don't have all the info you'll need to decide if this is a good deal. But in general? This is the best quote I've gotten so far.

    2008 Odyssey LX, 36 month lease, 12,000 miles, $324/month including taxes with $563.24 due at signing. OR, with $1690 down, $290 a month including taxes. Residual value $15,343.

    What do you think. Sounds too low of payment IMO based on other quotes but ??

    Thanks! :)
  • lonestar98lonestar98 Member Posts: 48
    seems very good. are the license and acq fee worked in there? the lowest i've seen out here in Cali is $375 for an '08 EX-L w/ RES. you are being quoted on an '08, right?
  • deejay2099deejay2099 Member Posts: 37
    I just leased an Odyssey EX. The selling price was $25,848 which works out to $334/month (including tax) for a 36 month lease (12K miles/year). I put no money down and the first payment was rolled into the lease so it is essentially 35 payments.
    This was by far the best deal I could have gotten. All other metro Atlanta dealers wanted ~$380 for those lease terms.
  • milt7696milt7696 Member Posts: 13
    It is for a 2008 EX-L w/RES.
    36 months 36 k miles
    Works out to a total cap cost about $31000
    Payments around 372/ month
  • timmy1btimmy1b Member Posts: 4
    I just closed in South Florida area on a 2008 EXL With RES at 390/mth with 1000 down (includes 1st mth, tag, etc..). I think this was a decent deal based on this site and talking to numerous dealers.
  • robcast2robcast2 Member Posts: 10
    I am getting almost the same deal at Pompano Honda. I am supposed to pick up the car tomorrow. I wonder if I can do better. It is 2008 EXL with RES 397/mth with 1000 down(includes 1st month)
  • timmy1btimmy1b Member Posts: 4
    Rob - I think you are dealing with the same guy I am. I got mine at Pompano Honda also. He said you are a nole!! He told me 397 (incl Tax) but I got it for 390 (incl Tax).
  • robcast2robcast2 Member Posts: 10
    That's funny Timmy. He is actually a good guy to deal with. I spoke with a lot of other dealerships and he had by far the best prices. I went in Friday to pick up the vehicle and they told me my credit score dropped and I had to pay a little bit more. I told them to forget it and walked out. He called me back at the end of the day and told me to come in and pick it up so I will probably go in today. I have a 2005 EX with 2 months left on the lease so I didn't really have to do it now but it seems like a good deal. Any other advise before I finish the deal?
  • lonestar98lonestar98 Member Posts: 48
    from the way you explain it, you shouldn't be charged for any miles over. were you there during the inspection? also keep in mind there was a lawsuit that allowed owners to have +5% in miles w/ no overage, but in your case that shouldn't matter b/c you had 30k +30k.

    please keep us posted on what you find out!
  • hondatonascarhondatonascar Member Posts: 7
    Hello,

    Back to the site to prepare in leasing an 08.

    I leased an '04 EX-Res for 24mos/30K miles in 4/04. Then I went ahead and extended for another 24mos/30K. Just had the turn-in inspection and the van is in decent shape with just over 36k only in miles.(1st time lease and I thought we would be drivind around more..live and learn)

    So I now get Honda's preliminary excess&wear statement. No charge for E&W Use but the letter indicates a miles overage charge obviously based on the >30K miles @ 15 cents for >$1000. Lease extension agreement clearly states that I can total 60K miles at the equvivalent of 30K miles in the original lease peiod and then another 30K during the extension period. Extension period clearly defined as the 24 mos following the original lease period.

    Question #1 - I will call Honda Monday to discuss the error in miles overage but I want to make sure I am understanding it correctly. Since I didn't go over 60K by a long shot I should have no miles charge, right?

    Question #2 - Given the $1500 E&W allowance(3 no greater $500 each) the inspection revealed nothing more than bumps and bruises and estimated cost to repair must have brought in the $0 E&W charge. Other than me discussing with Honda that I owe nothing for miles, will there be any change in the $0(given nothing else changes on the van prior to turn-in)? What is the Settlement Invoice and can charges be added after I turn the van in? Who adds the charges if I turn the van in?

    I figure I owe nothing on turn-in. Am I assuming incorrectly?

    Question #3: What are the currect residual % and money factors I should use when I get the 08 Ex-L w/RES at $0 down for 3/36? 2nd time around I want to feel better prepared walking in and out and this site has taught me plenty.

    Thanks for you input.
    Tony
  • watiiwatii Member Posts: 21
    I am trying to get quotes from local dealerships via email and they are nowhere near what is claimed here. The best quote I have received so far is $410 a month, $0 down, 35 payments. This does not include tax, which here bumps it up to $440/mo. Is this way high, or do people just stretch the truth on these boards. The dealers here do not appear to be willing to negotiate through email. Help.
  • lonestar98lonestar98 Member Posts: 48
    that's too high...what's the sales price and money factor they are charging? you should be under 400/mo w/o tax. i've never found e-mail to work that well. i call around until i find somebody i like and then work w/ them over a week or so, slowly arriving at the price i want

    just to be clear, what are they offering as a drive off? you should be around 700-800 drive off and then 375-400/mo before tax.
  • hondatonascarhondatonascar Member Posts: 7
    Yes, I was present and the inspector was fair in his assessment and I had no issues with the review I signed. Polite gentleman and he walked me through every aspect of his review while also chatting on other issues. There was a line for odometer reading and it matched. The inspection form indicates actual and does not have any lines to calculate potential excess. It's in Honda's court and hopefully it's just a paper issue.

    Thanks and I will keep you posted. I do have the paperwork on the class action allowing for lapproxiamte +5% in allowed miles because of the odometer readings. I shouldn't need it but I'll keep it handy.
  • watiiwatii Member Posts: 21
    sign and drive. $0 down nothing, then 35 payments of $440 which includes tax which is 7%, so the actually lease amount is $410. I have trouble understanding what any of those other numbers have to do with anything. I mean you can't really talk to anyone about it, I've had a sales manager tear up an offer sheet in front of my face before, for trying to negotiate with factual information. My last lease I had to drive three hours but got the deal I wanted. I'm just amazed, at how they claim to have internet sales, but fail to negotiate. I guess they just figure your wasting their time if your not there in person getting the run around. Thanks for your help.
  • windrockwindrock Member Posts: 5
    I followed up on an ad in the Dallas paper where a local dealership quoted a 2008 EX (29,595 MRSP) 36 mo., 12K/yr, $2,499 down plus 1st payment for $199/mo. TTL extra. Thinking it was a mistake I sent an e-mail and they quoted it and said it would also require an additional $909 up front for the mud flaps, cargo tray, tint, etc. Even with that, its $10,527 out of pocket over 36 months or about $293/mo. With interest rates so low, I didn't bother to do a PV. This sounds pretty good based on what I have seen here. Any comments?
  • lonestar98lonestar98 Member Posts: 48
    the only way i can really analyze this deal your talking about is to deal in total cost

    for example, out here in cali you can get an ex-l w/ res for 745 to 760 drive off (incl first mo payment, doc fee, tax, title, tire fee) and then 35 payments of 375 to 400/mo plus tax.

    so, add up all those numbers and you get a total cost. add up all of your numbers and then compare and see what number you get. that will give you an idea of how well you're doing. just make sure you've got all your fees in there. for example here is cali they can't charge outrageous doc fees.
  • dditillodditillo Member Posts: 1
    Hi folks, I just lease a new touring and wanted to know if I got a good deal.

    $499/month with total $1500 out of pocket. 36 months, 12000 miles/year. He said he gave it to me at almost $1000 below invoice.

    2008 Odessey Touring Fully Loaded
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hmomex. The best way to get a good deal on the Odyssey that you are interested in is to negotiate as low a selling price as possible on it and then have the dealer calculate your monthly payment using its buy rate lease money factor. If I personally was in the market for an '08 Odyssey, I would shoot for a selling price of $500 over dealer invoice. The invoice price of an '08 Odyssey Touring without the run flat tires is $36,850. $500 over that is $37,350. Once you arrive at a price that you are comfortable with, have the dealer calculate your monthly payment using a money factor of .00113. this is Honda Finance's buy rate for a 36 month lease of this van for customers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome Anthony. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    The offer that you pasted into your post is Honda's official advertised lease for the 2008 Odyssey. Manufacturers advertised payments are usually pretty good deals, but they usually leave a little meat on the bone so to speak. It makes sense if one thinks about it. Dealers would be pretty annoyed if automakers advertised an amazing deal on a vehicle that cuts out most of their profit. Savvy consumers who live in areas that have a decent level of competition and shop around are usually able to beat manufacturers' advertised payments. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around with a few Honda dealers in your area for the lowest possible selling price. Once you have arrived at a price that you are comfortable with, have the dealer calculate your lease payment using Honda Finance's buy rate lease money factor of .00113 (for customers who qualify for its top credit tier and pay a security deposit at signing) and you're all set.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings tmniz. Let's work up a lease payment on the van that you are interested in and see what we come up with. The MSRP of a 2008 Honda Odyssey EX-L with navigation and the entertainment system is $36,445. The dealer invoice price of this vehicle is $33,055. For this lease, let's assume that you are able to get this van for $500 over invoice, or $33,555. According to my calculations, if you were to lease an '08 Odyssey EX-L with nav & RES that has an MSRP of $36,445 and a selling price of $33,555 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $456. Shoot for a price in that area and see what happens.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi milt7696. A capitalized cost that is below dealer invoice along with the use of Honda Finance's buy rate lease money factor (.00113) is an excellent deal on a 2008 Odyssey right now. If you like the van, go for it.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jcalhoun. Honda's current lease program for the 2008 Odyssey is scheduled to run through March 3rd. It is difficult to say what will happen to Honda's lease program for the Odyssey in March. Given the slow down in the U.S. light vehicle market, I personally suspect that Honda will have to at least its current lease payments on the Odyssey, if not enhance them. However, it is difficult to say that this will be the case with 100% accuracy.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey deejay2099. Let's work up a lease payment for this van to compare to the one that you were quoted. The MSRP and dealer invoice price of a 2008 Honda Odyssey EX with no options are $29,595 and $26,865. I'll use $500 over invoice as the cap cost. According to my calculations, if you were to lease a base '08 Odyssey EX that has an MSRP of $29,595 and a selling price of $27,365 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $326. So the $338 per month, including tax that you were quoted looks pretty good to me. If you like the van, I personally don't see any reason not to go for it.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome bwjam. Since you have never leased before, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using the vehicle's buy rate lease money factor. If I was in the market for a 2008 Honda Odyssey right now, I personally would shoot for a selling price of $500 over dealer invoice on a lease. You can look up the invoice price of the exact model that you want in the new vehicle pricing section of Edmunds.com. Honda Finance's current buy rate lease money factor for a 36 month lease of any 2008 Odyssey is currently .00113 for consumers who qualify for its top credit tier and pay a security deposit at lease signing.

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  • nsxracernsxracer Member Posts: 5
    Please excuse me if this has been gone over to death but I just received this email quote for this vehicle. I am in NY and have not leased a vehicle in many moons, especially after dealers stopped leasing vehicles for a while until the passage of the Graves Amendment did away with dealer liability for accidents with leased vehicles.

    I would appreciate any insight from this very knowledgeable base of members as to the "fairness" of these numbers. No haggling has been done yet and this was a first offer received by email after a personal visit to the dealership.

    Thank you all in advance for your assistance and guidance.

    On the 2008 Odyssey EXL RES,

    Selling Price is : $ 29,500

    12000 Miles 36 Months lease
    398/ Month with 1st month, MV, and taxes up front.

    18000 Miles 36 Months lease
    442/ Month with 1st month, MV and taxes up front.


    Dealer #2 just emailed me the following for the same criteria:

    $29,247 (internet only special)
    $385/mo
    $427/mo
  • nsxracernsxracer Member Posts: 5
    Here is the latest email from dealer #2 after the initial telephone conversation ended with simply saying the quote was higher than an unnamed competitor:

    2008 Honda odyssey exl dvd

    American honda lease

    $1500.00 wear and tear waiver

    msrp $34,445

    Lease price $31,247

    36 months

    12k a year

    .15 a miles overage

    no money down

    Just paying sales tax,dmv,and first payment totaling $1531.00

    when you leave here you will have 35 payments leftover

    36 months at $371.04

    res value $19,050.10

    keeping everything the same i ran the lease for 18k a year

    no money down

    Just paying sales tax,dmvfees,and first paymwnt totaling $1682.78

    36 months

    .15 a mile overage

    $412.43 36 months

    res value $17.493.00
  • dvsuttondvsutton Member Posts: 48
    Be prepared to spend alot of time in the service area. My wifes Odyssey has already had the trans rebuilt, new rotors, new seat heaters, dash rattles like a pinball machine, sliding door fell off and onto my sons foot. It has seen at least six weeks in the service bay at Honda. Would I buy another Honda product? NO WAY. Learn from my mistake and don't buy or lease a lemon from Honda.
  • jtk152jtk152 Member Posts: 139
    That doesn't sound like a bad price nsxracer. I'm in the Buffalo area and just leased a totally basic 2008 Ody LX. I'm brand-new to leasing. The advertized deal for this model, at this dealer was $211/mo, 3/36 lease with $2999 down + firt pymt, tax, DMV fees, which basically totalled $4K out of pocket. If I understood it correctly, I could have driven away with nothing out of pocket for ~$322/mo with that deal. What muddied the waters for me was I traded in our 2001 Windstar. Best they would do in trade value was $1950, but he supposedly lowered the price on the Oddy to $24600 (somewhere around there). I got lost in that money/lease factor (what ever it's called) crapola & should have done some more homework on that. I know I got snowed w/ the trade part, which I honestly expected. In the end I drove away in the new 2008 Ody LX for 35 payments of $276 with zero out of pocket. Got the $1500 'damage waiver', $0.15/mile overage amount, no disposition fee and $15600 buyout price.

    Joel
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings dditillo. $1,000 below dealer invoice is an outstanding price for a leased 2008 Honda Odyssey. As long as the dealer that you worked with used Honda Finance's buy rate lease money factor to calculate your monthly payment, and they probably did because Honda dealers rarely seem to mark vehicles' money factors up, you got a good deal. Enjoy your new van!

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello nsxracer. Despite the fact that you haven't leased in a while, you're on the right track. The best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on it and then have the dealer that you are working with calculate your monthly payment using its buy rate lease money factor. Let's take a look at the selling price that you were quoted. The dealer invoice price for a 2008 Honda Odyssey EX-L with the entertainment system but without navigation is $31,247. The selling prices that you were quoted are well below dealer invoice. This means that the dealers that quoted you them are taking the $2,000 dealer cash that Honda is currently providing on the Odyssey into account. Even after the cash, these are attractive selling prices...the first is slightly over invoice and the second is right at it. The problem here is that I do not believe that the dealer cash is compatible with Honda Finance's special lease program. This means that either the dealers that you are working with are running your lease through an independent bank or your actual selling price is much higher than they told you it was. Either way, the monthly payments that you were quoted look pretty good to me.

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  • nsxracernsxracer Member Posts: 5
    Thank you for your input.

    I am so used to buying versus leasing that I remain a bit confused as to the negotiation tactics of dealers for leasing. The "purchase price" quotes I was given could not be used as the price to calculate a lease. Every dealer insisted upon using the invoice price for lease rate calculations but would give a more attractive number for a purchase.

    But thank you for confirming that the lease quote was fair.
  • allnew3allnew3 Member Posts: 39
    I am in the midst of negotiating a Lease on an EX-L and can not get my numbers to jive with the dealers in my area. Here's what I calculated for an EX-L for 36 months and 12,000 miles/year:

    MSRP = $32,845
    Invoice = $29,801
    Residual (58%) = $19,050
    Money Factor = 0.00113
    Lease Payment (pre-tax) = $353.84
    Lease Payment (after-tax 7%) = $378.61
    Upfront Costs = $378.61 (1st Payment) + $197 (Doc Fee)

    One dealer has quoted the following:
    $2,000 down (includes 1st Payment, Doc Fee, Not sure where the rest of the money (~$1400) is going since I would think the monthly payment would be around $335 per month if used to reduce the invoice price)
    $378 per month

    Second Dealer has quoted the following:
    $1,000 down (includes 1st Payment, Doc Fee & Bank Fee ($595)
    $386.61 per month
    What is this bank fee? Should it be in there or is it covered under the Money Factor?

    Also, If I were to put money down outside of the 1st month payment and Doc Fee doesn't this get subtracted from the Invoice Price thus reducing the monthly payment?
  • berkut027berkut027 Member Posts: 22
    The $595 bank fee (also known as an assignment or acquisition fee) is legitimate--you'll see something similar on virtually all leases. Honda's assignment fee is $595 for the Odyssey--not sure if they have a different assignment fee for other models--probably not. There may also be a security deposit--depends on the dealer, the leasing company, your credit rating, etc. I leased an '08 Touring at the end of January and paid the $595 assignment fee, a $50 doc fee and $199 for tags but no security deposit. The doc fee and tags (or licensing fee) will vary by dealer and state--I'm in Washington state.

    The dealer should be willing to give you numbers with the assignment fee and all other fees (possibly excluding tags) included in the capitalized cost of the lease. Putting down a big down-payment (also know as a capitalized cost reduction) on a lease is generally not a good idea (see Dissecting the Deal - How to Spot a Good Lease).

    Honda's current money factor is very good--.00113=2.71% APR--I think you should generally try to minimize the down payment on all leases and especially so on a lease with a money factor this good. I believe some states require the dealer to collect the tags fee at purchase--others allow this to be rolled into the capitalized cost of the lease so you can truly drive the car off the lot for $0. I think it's more typical to pay the 1st month's lease payment plus the tags fee when you drive off--that's what I did.

    It sounds like your expectation is that the dealers will lease you the car right at invoice. You should confirm that with them and be sure of the exact purchase price of the car before trying to figure out what all the add-on fees are.

    Here are the terms on my lease, in case it is helpful to you. Note that you should be able to do better than the $500 over invoice I got--there were some other factors involved with a trade-in, and I'm in one of the areas of the country where dealers are not discounting Odysseys very much. This was also done a month ago--Odyssey market prices appear to be dropping approx. $500-$1000/month.


    Sticker (incl. dest) $40,645.00
    Invoice $36,214.00
    Delta over invoice $500.00
    Add-ons $276.00 2 wireless headsets, wheel locks, mud guards
    Dest $635.00
    Total purchase price $37,625.00
    Doc fee $50.00
    OTD $37,675.00
    Assignment $595.00
    Security deposit $0
    Cap cost $38,270.00
    Term 36
    Residual % 56.0%
    Residual $22,761.20

    Depreciation fee $430.80

    Money factor 0.00113
    Equiv APR 2.71%
    Finance fee $68.97

    Total $499.77
    Tax rate 9.20%
    Total with tax $545.74
    36 payments $19,646.77

    Tags fee $199.25
    Drive off $744.99
  • hondatonascarhondatonascar Member Posts: 7
    Got everything clear with AHFC. I was told the letter generator(system/human who knows) does not take extensions into consideration but not to worry. Definitely will refer back to my contract should I have an issue but the rep seemed straightforward enough and answered a few other questions about turn in and leasing.

    Only problem now is that I contacted about 7 dealers between the weekend and now requesting pricing on a lease and I got nothing back. Not sure what is going on. They all have that quick quote link and say they will get back to you in 24hrs. Being end of month and I was ready to move in 1-14 days it's a bit strange. Didn't really ask for anything other than 3/36, $0 down on an 08 EX-L RES. I figure to get by at $350-$380 before taxes depending on sales price. Should be OTD with 1st month payment and $150 in title, reg and plate. Similar to last deal. No extra costs. No sec deposit needed.

    I expect to be at or below invoice at this point, right? $31,247

    Thanks
  • timmy1btimmy1b Member Posts: 4
    Hi Rob -

    Sorry I didnt get back to you sooner. Did you close the deal? Yes, that guy was great to deal with. I searched all over, and he was a funny guy and he was fair. He deals in Volume. Some people on this board are saying we are making up the prices or something like that??? huh? why would I/we do that.

    For the record and I believe the nole fan (I am a cane) got almost the EXACT deal.

    2008 Honda Odyssey EX-L W/RES. $390/Month INCLUDING taxes.
    I put $1,000 down which covers the fees and 1st month.
  • nsxracernsxracer Member Posts: 5
    Just finalized the lease on an '08 EX-L Res with the following terms:

    36 mos - $412 per month - 18k mileage per year

    "purchase price" $30,427

    Out the door cash for sales tax, dmv fees and first payment totaling $1682.78

    Plus they threw in 2 extra wireless headsets for free.

    The offer for 12k mileage per year would have been $372/month.
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