2013 and earlier-Honda Odyssey Lease Questions

passat_mx

I just closed my lease, thanks car_man for the help.

For the information of other readers in this forum, here are the details:

36 mo, 36k miles
Sale price: 23500
Residual: 58%
Money Factor: 0.00095
Monthly: 280+sales tax (includes rolled-in bank fee of 595)
Due at signing: 280+sales tax, plus title and registration.

Got the price matched by a few dealers, so that seems to be the going rate. You can probably go a little lower if you bargain hard.

suzuki5

I am getting close to making a deal. I am working on a Baltic Blue EX-L w/RES 12k per year

414.93 per month including Florida tax
$500 out of pocket which includes first month.

Actually trying to get a little better deal from one more dealer.

Any comments?

gator88

Which dealership?

suzuki5

gator88
send me an email (sofidad at hotmail dot com) I am guessing you can figure out where to change the symbols above.

By the way I received alot of help from "onequi", I give alot of credit to him for answering all my questions and showing me the way

I have been working with 3 dealerships that have agreed to this price, I am trying to do better.

ppp49489

Got our EX-L RES yesterday, for $386+tax(6%) per month with $696 due at signing. (first month + new plates fee).

12k miles
36 months lease

much thanks to this blog, it helped us a lot.

atlyankee

I was offered the following deal this afternoon.

" I am at $395.60 plus tax = $419.34 on the 36 month, 12K per year miles and
$414.79 plus tax = $439.68 on the 36 month, 15K per year miles. The credit rating must be above 720.
BOTH ARE WITH $0 DOWN...NOTHING, SIGN AND DRIVE. YOU WILL ONLY HAVE 35 PAYMENTS...Your first one is made at the dealership by us!"

Does this look like a good deal? Thanks in advance for any feedback.

longinot

I am torn between these two vehicles. I am looking for a 24 month lease with 10k a year milage. The residual values seem to be vastly different between these two vehicles. The Chrysler is stated as having 55% of value left while the Honda is over 70% for the same period. AmI reading this wrong? In your experience what are the 24 month residual rates for these two cars (both top of the line models)?

Thanks for your info.

Joe

ecdirect

$1500 down, Included 1st payment
.00070 Money Fact
56% residual
36 months
12K

-----
Just drove off lot in Atlanta. Let me know if you want the dealer/salesman's name.

jrsuperstar

Hello all-

Interested if anyone in the STL area has leased an Oddy recently. Any details you can provide would be wonderful!

-JR

silfam

If anyone has leased in Chicago lately, please let me know. I am looking to lease the Odyssey 2008 EX. A friend of mine got 375 per month with no money down about 2 months ago. I called and got an original quote of 399 - I assume I will be able to bring him down to at least the 375 my friend got --- any advice?

Thanks.

onequi

Looks Good in my Eyes........

onequi

Use your email to do any negotiations directly with an internet manager. don't waste your breath. set your price and let them work of that. UR are Their BOSS, you pay their bills!! $375 including taxes sounds about right!!! INCLUDING the taxes.. a month with 0 out of pocket. Remember the EX model carries the highest residual value of the bunch at 58%.

onequi

Chrysler has good options on paper but that's about it. handling sucks, it's slower and less responsive, materials look cheap.. I can go on and on... All you need to do to a honda is change the oil every 3000 miles and put gas, that's it!!! If you want a stable, fun to drive, safe automobile for the family, Honda is the way to go...for the wife at least...I will stay with my Mini Cooper S!! Like I have mentioned on other threads...set your price, have the internet sales manager work of your price... I got the EXL for $392 including 7% FL tax a month, we opted to put the first payment down in order to have 35 payments left to give me time to negotiate with my next aquisition....0 out of pocket meaning no financial fees, no anything else, no tag, no tittle fees, nothing.... Use edmunds to send out an email to your nearest dealers and start to negotiate..Be demanding, set you price and limits...dont let yourself be shark bait. Keep us posted!

onequi

take your car to carmax and get the money in your pocket, not theirs! put in a savings account or go on vacation..if you put it towards a vacation right away, it will be the same only this will benefit you, not them...if you plan on leasing, no trades, no money down, is the way and only way to go.....there is no alternative, believe me... anything you put down as leverage will be LOST!!! LOST........

or a Touring for $420/mo (w/trade-in) based on other pricing I have receives on the touring with NO pax, you just gave your car away for $2800..

Go to carmax, get your money in your pocket in 30 minutes. then negotiate a deal, online, though edmunds directly with internet managers..No Money Down, 0 out of pocket...That's the only way to lease! keep us posted.

onequi

Any american car, with all do respect to the american car industry which lost billions in the first quarter of this year...they estimate that any american car, AS SOON as you drive it off the LOT you lose immidiately $5000 to $8000 dollars. just like that, BOOM...mostly passenger cars.. They are exceptions... but generaly speaking. the honda will always will maintain a greater value, in the short or long term. I personally do not have any experience on short term leases, but you will never go wrong with a Honda. Short term leases are generally given by high end vehicle manufacturers, in our case it will be Honda's cousing Acura for their more costly vehicles...the less you use it the more valuable it is to them when you turn it in, the more profit the get out of it!

onequi

they can go lower.....try to get in the 390's with tax with first payment, that is the only money that you would put down. $414.93 would be with RES including tax

silfam

Thanks onegui --- anyone else have any other thoughts .... I've read about getting lease price down to 350 on the EX, or to 399 on the EX-L? Any thoughts appreciated.

alexliu

Anyone know how much I should looking for 24 months/24,000 Miles lease on 2008 EX,I am s.California
Thx

dacarpenter

I had $388 ( tax rolled in) proposal for EX-L with only first month and doc fee( Ed Napleton). So $375 for EX doesn't look like a good deal to me. Remember some post earlier about $303 for EX. But that was not in our state of Illinois, of course:) Hope this helps

atlyankee

I appreciate your leg work. You made it extremely easy to start the process from your past post. I signed a 36m/12K true sign and drive. Zero out of pocket, dealer picked up 1st month payment, with 35 left. Total cost through the life of the lease is $14676.90. Thank you

temptation_boy

Hi, did anybody recently leased Odyssey EX-L in Seattle area.....and can you let me know the deal....how much you paid & monthly payments.Reply from People Outside of Seattle area will be appreciated.....Thanks
Sasha

ppp49489

I agree 100% with you about choosing honda over chrysler.

BTW, we got our EX-L RES last week for $386 + tax. We put $696 (first month and new plate fee) down. I took the advice you gave on this blog and emailed dealers in the area, and had them work on our 'set price' and finally gave us a quote close to the good deals you guys got.

Thanks for the posts, if not, we'd become as you say, 'shark bait' or worse, be driving a chrysler t&c!!

p.s.

... wife loves the odyssey.

rlembke

How are you guys managing to get dealers to give these prices? I'm looking at either EX-L or EX-L RES and I can't get them below $420 for either! Are you getting them to give the car for less than invoice, eliminating the Admin/Acq Fees or what?

I point blank told them I needed the EXL to be under $400 and/or the EXL RES around $415 and he came back saying absolute best they could do was $420 on EXL. Any advice?

Thanks! Rob

suzuki5

Where are you located Rob? I can tell you what dealer I used if you are in SE Florida. I picked up a EXL w/RES this past Thursday night for $414.75 (including taxes) a month with $500 at signing. 36 month/12K per year. Got Wheel locks and spash guards added because they were already on the van. This dealer also has free oil changes for 3 years.

rlembke

I'm located in the Kansas City area.

I got some good results today. I must confess, I was trying to make a deal work after having visited the dealership to do our first test drives. Like I said before, the best I could do when dealing through the showroom salesman was $420/mo for 36m/36k on an EXL. I started over and sent the web inquiry and immediately the fees that the showroom guy said were non-negotiable (555 acq fee and 595 admin fee) turned into nothing more than a $299 admin fee. That got us to $405/mo. The salesman ended up making a calculation wrong and said the EXL would be $379/mo. He was a very stand-up guy and they honored that price since he offered it in writing and by email. Two big thumbs up for Jay Wolfe Honda in Kansas City MO! All those numbers include local sales tax of 7.525%.

Thanks guys!

Rob

Details -

2008 EXL
MSRP - 32845
Selling Price - 30001
Money Factor - .00077
3 year, 12k/yr
Should be - $405/mo inc tax
Residual Calc error resulted in actual $379/mo inc tax
Money at Signing (1st month +299 admin fee) - $678
Jay Wolfe Honda in Kansas City MO - Contact internet salesman through honda.com

jpappas

Can you post the details of your deal and what dealership? Im in Metro Detroit and looking for a similar deal.

thanks

J

kccarguy

Thanks for the great info on your deal - well done! I'm also in KC and shopping for a great deal on an Odyssey. Did you add anything - DVD etc? If so, how much additional cost? If not, did you happen to get numbers on any other features?

Can anyone share what it typically costs to add DVD, NAV etc to recent EXL lease?

Thanks!

CarMan@Edmunds

Hi varunku. Unfortunately generally speaking 24 month leases are indeed more expensive than 36 month leases. The reason why this is the case is that new vehicles experience their most rapid depreciation during the first year of ownership. By leasing for three years, one can spread out this large initial depreciation hit out over 36 payments. On a two year lease, you have twelve fewer payments to spread out the pain. From time to time manufacturers will run special promotions on 24 month leases that make them as attractive or more attractive than 36 month leases, but that is not currently the case with the Odyssey.

Car_man
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CarMan@Edmunds

You're very welcome, passat_mx. Thank you for taking the time to stop back and let us all know how everything turned out. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

Car_man
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ppp49489

I used edmunds' online price quote to send out my inquiry to three dealers in the area.

2008 EX-L RES
slate green ext./gray int.
$386/mo plus tax
36 month lease
12,000 miles/year
$696 (first month & new plate's fee) due at signing
Dealer: Capital-Honda

The one in Brighton also gave me the same offer (also with $0 down), unfortunately they're about an hour away.

Also, we got ours at the end of the month, i don't know if that contributed in any way.

Good luck.

kccarguy

Can anyone share recent data on how much more I can expect to pay monthly for DVD and NAV on an EXL lease?

yrm2go

Hello, I'm new to this forum. I've been reading most of the posts over the last few months. I recently received a quote from a dealer in NJ on a EXL w/ RES. I requested a $0 out of pocket. Is this offer good? The money factor is alot different than I've been seeing in the posts. I keep thinking I'm missing something. Should I ask for more information from the dealer? Help!!

$434.85 for 36 months 12 k per
$30670 selling price
0.000770 money factor

chchoi

I have a quote for EX-L lease 3 yrs 12k/yr
selling price 27388
Drive off 654.35
Payment 359.17 +Tax
Is this a good deal?

yrm2go

It turn out that the dealer used the wrong tax rate. He used the NJ rate but I'm in NY. The monthly is now $450. He is also using a 53% Residual rate. I thought for a EXL w/res the rate was 56%. Is there a way I can check what rate Honda corp uses for this model? 53% seems too low.

jpappas

Thanks, that helps a lot, but can you tell me what was the selling price?

alexliu

Hi Car_man:
Can you tell me that the 1,000 dealer cash can be apply toward to AHFC lease program?another word,can you get 1,000 and .00077 rate together?

Thank you!!

jpappas

Car_man or others,

I know we switched months, not sure if incentives changed (i've noticed a few inconsistencies reading the posts from April and May).

Could someone give us folks that are currently in the market a quick run down. Personally I am looking for the following

Money factor, residual on the following models for 36mo 12K lease (im in MI)
EX-L
EX-L RES

Also can you clarify the pricing and what incentives can be applied to a lease. In other words, what target prices should we be going after.

thanks

J

dodgehappy

I hope someone can save this poor soul- who's wife has been begging me to get rid of her 06 Durango Hemi and get her into a new Honda Odyssey. What should I be expecting for residual and money factor on an LX thru EX-L at 36-39 months, 12k per year? (We dont have perfect credit- more like mid 620-660.) Is it possible to hit a payment at/under $350 per month with 0.00 out of pocket and Ohio 6.75% tax? Please show me the light!
Oh and I need to try to break even on my trusty Durango that I owe 14,700 on-- gosh I sure hope that is possible!

ppp49489

selling price was 30739.07

CarMan@Edmunds

Hi alexliu. Unfortunately, none of the cash incentives that Honda is providing on the 2008 Odyssey are compatible with its special lease program.

Car_man
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CarMan@Edmunds

Here you go, jpappas. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Odyssey EX-L with 12,000 miles per year are .00077 and 56%, respectively. The money factor for an otherwise identical lease of an EX-L with the entertainment system is the same, but its residual value is 55%.

Honda is not currently providing any cash incentives on leases of this van. If I was in the market for one right now and I was in an area that has a decent level of competition, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice. You should be able to get a good idea of how much you will have to pay for one right now by visiting the following discussion: "Honda Odyssey Prices Paid and Buying Experience".

Car_man
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CarMan@Edmunds

I'd be happy to take pity on your poor soul, dodgehappy. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Odyssey LX with 12,000 miles per year are .00077 and 57%, respectively. The numbers for an otherwise identical lease of an '08 Odyssey EX-L without navigation or the rear entertainment system are .00077 and 56%. These money factors are for consumers who qualify for Honda Finance's "Super Preferred" credit tier. If your credit is not in perfect shape, you will likely have to pay a higher rate than this.

Car_man
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buckeye_90

Hey Car_man,

How about the EXL with NAV and RES?

Is it 55% and .00077?

Thanks for the help!

dodgehappy

We have settled (at least for the time being) on an EX model. Does the EX hold the same residual and money factor as the LX or EX-L or is is also different?

dodgehappy

Well I have chatted with a few dealers in my area. Only one has given me the full numbers so far. How does this sound?

MSRP 29595
Cap Cost 25512
Residual 57%
rate .00129 (second tier down ahfc)
$4XX out of pocket (first month pymt?)

Does this sound like a good lease deal?

dodgehappy

Does anyone know the true credit score range for AHFC Super Preferred credit tier? I have had each dealer telling me different things- from 680 to 720 for the lowest accepted score. I was trying to nail down the correct low end score.

rlembke

I was told 720 late last week when I finished my lease.

dodgehappy

Thanks. I was figuring 710 or 720.

lauster

I'm in NY tri-state area. What's the current money factor and residual value for a Touring without PAX for 12k miles per year? Thanks in advance.

vjwlbw

Just got a quote in VA for a 08 Odyssey EXL with Nav/rear view camera & DVD for

MSRP: $36,445
Sale Price: $32,852
* plus $299.00 processing fee, 3% sales tax and DMV fees ..

36 month lease / 12K
$800 out of pocket
$420 month

Is this a good deal?