2013 and earlier-Honda Odyssey Lease Questions

joeblack1

I am considering using the Internet method to shop for a leased vehicle. Should I combine the lease and purchase price in what I ask the dealer to Itemize?

According to edmunds.com lease calculator, I get 295.00 per month based upon the following assumptions. (Assuming the assumptions are reasonable, and I welcome input on that.)

MSRP: 32,800
Base Cap: 27,000
Residual: 56%
Money Factor: .00077
Sales Tax: 8%
Term: 36 Months.
Per Month: 295.38

It doesn't ask for miles driven per year which I would think would be a factor, so I'm not sure that this is very accurate or even useful. I would be looking for 12,000.

Thanks,
Joe Black

trumpy

Hi Guys -

I was disappointed to find that Honda seemed to take the lease special off the table - however, was just informed from a local dealer that they are currently more attractive than in June! I am trying to get specifics but was wondering if anyone was aware of the amount of dealer cash and money factor Honda is currently using.

Trumpy

tlgolden

Honda must still be offering incentives for the leases (or all of the local dealers are using outside lease financing) because I'm getting multiple offers (today) that seem good.
Best offer so far (out of 3) is below:

Sale price: 28281.87
Total upfront out of pocket: $987
Monthly cost: $387.61 (tax included @ 7%)

I was quoted a MF of .00163 and residual of 54% or 18,619 ( I thought is was supposed to be 55%?)

CarMan- what do you think?

Terry
PS- I'm in Florida

valiantvegan

Hi car_man,
Now honda's special on LX is $239.00 per month for 36 months. $1,999.00 total due at signing. What's the MF and residual? Is it get better or worse than 7/4?
Is there any difference for MF and residual for EX and EXL?
Thanks a lot,

Andy

trumpy

Hi Valiantvegan -

I believe it is better (slightly) - we leased our LX last night (7/10). Our terms are 36 months & 12,000 miles per year for $279/month and $650 due at signing which included our first months payment. Also, the $279 includes our sales tax of 6.75% so the payment before taxes is about $261. We were about $10 more per month before 7/7.

Trumpy

sesarj

I was quoted Tier 1 MF of .00163 up from .00077 last month. Has anyone else received a better offer?

Also the residual on the Touring was still at 54%

sigep611

I've been contacting multiple dealers the last two days and that's the MF most of them quote. One quoted higher from some reason.

tlgolden

Car_Man & kyfdx:

Do you have any info on the latest figures for EXL w/ RES. I was quoted a MF of .00163. Residual was given as 54% when I thought it was supposed to be 55%.
Any dealer incentives? Please help!!!
Thanks,
Terry

sigep611

I think I'm getting to the bottom of the prices because they are starting to look the same. I have three quotes in my region for a 36yr, 36k lease on an EX-L.

1. $700 out of pocket $379/mo
2. $677 out of pocket $378/mo
3. $0 out of pocket $385/mo

I only know #2's base price (27545) because the other two were trying to beat her and lowered things. Does anyone think I can do better? I found some better prices in TX but the dealers had really bad reviews and at least one wasn't telling me about 1600 of dealer accessories they were adding on.

sigep611

I now have four others quoting $700 out-of-pocket and $355-$365 after 6.3% tax. I really wasn't sure that anyone would go lower than above, but these four came out of nowhere. Two this point they weren't even close.

shperez

Hi Car Man,

I'm getting this offer from a local dealer:

MSRP: $ 36445.-
Price: $30900.-
Money down all inclusive: $2998.- ( I don't know exactly what's this all inclusive means)
Residual Value: $18969.60
Monthly payments: $395.-

What do you think ?

scott414

Hello all. I live in the Philly area and I am looking to lease the 08 Odyssey EX-L w/RES. I have a trade that we're $1000 off with and the best number I have received is $495 with $500 down. Does this sound like a good number?
Thanks,
SB

mike2555

Leased EX-L no res or nav on 7/3

White
12,000 miles
36 months
700 down (covered first months payments and other fees)
339.42 (this price includes taxes)
Original quote from hardin honda in socal. Bought at weir canyon honda who matched offer. Hope this helps prospective buyers.

odyfam

I just bought a 2008 EX-L RES/NAV (northern california) on the following lease :-

Price agreed was : $30124
Acquisition fee : $595
Gross cap cost : $30719

This generated a 36 months lease at $412.42 a month (includes tax) ; with zero deposit down; residual value is 20044; 12000 miles a year

Amount paid at lease signing : $682 which was 1 advance payment of 412.42
+ 270 (registration + doc prep fee)

I plan to give the car back after 3 years

Was this a good lease? Or did I leave money on the table?

Thanks

OdyFam

heelntoe

I was also quoted .00163. Additionally, the dealer confirmed that the $1500 dealer cash could be used as cap cost reduction on the lease but not the $2500.

lenovo

I was looking to lease Honda / EXL / NAVI / RES for 3 yrs. 15,000 miles / yr. So far this is what I got:

Purchase price: $30,413, MF .000163, No out of pocket cost. $470.82 (tax included in Southern Cal). They told me that the residual value was dropped to 50%...how would that affect the price? I actually got a better price the 2 weeks ago @ $435 (tax included) from the same dealer. Did I do a dis-service by waiting for their new promotion, and got the bad end of it? By the way, should I get the same lease as ODYFAM and just pay for the over mileage in the future. That seems like a good lease.

Your suggestions and opinions is welcomed.

daninoah

Lenovo,

That still sounds like a good deal. I was quoted from a dealer in Torrance 12000 miles per year, same money factor (.00163), but with a 52 % residual, but they wanted 501 per month, including tax. Seems high to me, especially since I have bought 2 hondas from this dealership in the past, and am turning in an '06 ody ex-l w/RES. Tell me your dealer. Maybe we can lease two at one time, and even get a better deal.

lenovo

daninoah, is Goudy Honda in Alhambra...I am looking to lease it tonight or tomorrow. Are those the same spec. you are looking for?

daninoah

Lenovo,

I am looking for the same specs, but I live a good ways from Alhambra, and can't go tonight. Just to be sure, I want a white EX-L with RES & Navi, with no drive-offs, for 3 years ( I can do 10k or 12k miles per month, whichever is cheaper) through AHFC. I have an ODY EX-L RES 2006 with 3 months left on the AHFC lease, and they have sent me a letter telling me that if I release through AHFC, they will waive early termination and the remaining payments (up to 3, so I am safe).

Give your guy my number (310-345-9164) and e-mail (jerome.haig@gmail.com) and tell him I am ready to pull the trigger if the deal is right.

You can call or e-mail too if you want to coordinate, but even tomorrow might be tight as far as my schedule is concerned.

And just to let you know, I am still working with Scott Robinson Honda, but they told me on Friday that the deal I wrote about a few minutes ago (501/month) was the best they could do. I have sent them two e-mails this weekend with no response.

lenovo

daninoah, I'll give him your info. He is the internet sales manager - Art Cheng - everyone seems to be internet sales mgr He is checking with his boss to lease me the car for $465 (tax included...same specs that I posted). I should hear from him in a few minute. Since you are getting less miles, your price should be much lower...I figure 9,000 miles X .20 = $1,800 / 36 = $50 monthly savings (estimate)...I'll keep you posted.

daninoah

Lenovo,

thanks and sounds great. Tell Art that if you get a good deal, I will lease one as well.
good luck and let me know how it turns out. :shades:

daninoah

Lenovo,

Thanks again, and congrats on your deal. Let us know the exact specs. Art just called me and hopefully we can swing a deal as well. I appreciate you giving him my info.

cruiser8_8

Hello all:

I am trying to find the latest information on the money factors and residual value available for an 08' Odyssey Touring (12k & 15k/year). I need this to calculate my lease payment.Did Carman post the latest, as I have not been able to find the latest information on the site.

I wonder if Honda Financial Services publishes these rates, as I am currently financing an Accord through them, which I am keeping..?

I am also started to received offers which are not fantastastic, but they're hovering right around near invoice.

Thank for any insight into this matter fellow shopper...

lauster

Here is what I signed yesterday for a 36-month, 12k lease on a black-on-black non-Pax Touring.

Monthly Payment: $510 (including 8.625% tax)
Due at Signing: $1233.82 = Bank Fee ($595+tax) + First Monthly Payment ($510) + Registration ($77.50)
Money Factor: 0.00163

Here is the part that may vary...the dealer told me residual is 52% vs 54% that I have been seeing on this board. So using LeaseGuide.com calculater, here is the purchase price for the two residuals:

Residual: 54%
Purchase Price: $35500 ($1384 below invoice)

Residual: 52%
Purchase Price: $34800 ($2084 below invoice)

I think the deal is pretty good either case. What do you guys think?

cruiser8_8

Seem like a good deal. I just got a quote here in Florida as follows.

Touring, no Pax $33,800, mf 0.00163 w/60% residual. Problem is I am trying to get the salesman to tell me if this is a 10k or 12k/year leasing factors...This quotation was over the internet.

So far, I heard that he left early..

So did carman post the latest MF and residual value for the new lease program..

sesarj

Where did you get a 36 month residual on a touring of 60%? Isn't the residual set by Honda at 52% on the Touring? That makes a huge difference. Also, who was the dealer? for that price it may be worthwhile to ship the car to SoCal.

tlgolden

I just signed the following lease for an EXL w/ RES:

Total out of pocket: $750
MF .00163
Sale price: 28,568
Res. Value: 18673.20
Monthly payment: 351.86 + tax (7%)= $376.49
I'm in the TampaBay area of Florida.
Good luck all!
Terry

cruiser8_8

I think the saleman came up with that residual out of thin air. I spoke to him this morning and he denied the 60% residual after I ask for written proof. Oh well to the next dealer I go..

BTW.
Has anyone here lately, lease an 08' touring and what was your deal and payment.

markish

Picked up 2008 EX-L RES at Hardin Honda (Anaheim, CA) on 7/21/08.

MSRP: $34,480 (includes destination fee)
Cap Cost: $28,785 (includes acquistion/bank fee of $595)
Residual: $18,627 (54%)
Money Factor: 0.00163
Term: 36 month / 12K miles
Monthly payment: $360 + tax
Drive-off: $697 (1st payment + lic + doc)

Received almost exact same price quote also from Honda World Downey (Downey, CA).

Free 1st oil change certificate included. Don't forgot to pick up thje two wireless headphones. My salesperson at Hardin forgot until I mentioned it.

Also, I received a quote for gross cap cost on the EX-L RES & NAV from Hardin:

MSRP: $36,445
Cap Cost: $30,278 + $595 (acq. fee) = $30,873 (destination included) + tax

spankspank

markish,

You hit the numbers I'm looking for on your deal for an EX-L RES.

Anyone know of a dealership in Chicagoland or lower Wisconsin that is selling at these numbers?

Thanks for the valuable info, everyone.

67rallysport

Hello all,

I am looking to lease a 2008 Odyssey EX for 36 mo., with 12k miles per year. I have 3 questions:

What is the Money factor for top tier credit?
What would the residual value be?
Do the manufacturer to dealer (Marketing Support) incentives of $1,500 or $2,500 apply?

Thanks,

Greg

urasports

Hey Scott -

Try Scott Honda in West Chester. They quoted me $448 per month with just $500 OTD... www.scotthonda.com I haven't even negotiated yet. Also try Conicelli. Big inventory at both dealerships. Make sure you work a deal before you throw a trade into the mix.

My deal was for 15K per year, 36 months.

marinite

Best quote I've gotten (and should've taken in June with the higher residuals and better m.f. - ugh) and actually negotiated for my friend (that wanted Nimbus Gray and they had) was $33,900 for purchase or $34,900 for lease with the manuf/dealer cash credit. This month the credit has increased by another $500 but the m.f. is higher and the residual at 52%... makes the same car $50+/month higher.

The payments last month were right at $451. including 7.75% NoCal tax. Closer to $500 now. The drive off for my friend was 1st month payment, dmv and tax.

Hope this helps.

I asked about upcoming deals since this one runs until 9.7.08 and from what a dealer told me today... the plants are merging (the larger Honda models) to make one plant for large cars only in Alabama and a separate plant solely for the Civic/hybrids since there's so much demand. Therefore, they are expecting a stall in production for the Odysseys/Ridgelines/Pilots and won't discount them as much as they normally would as the inventory is supposed to be low.

Don't shoot the messenger, just repeating what I was told.

Cheers,
Cate

aviviv007

Hi All,

I have been looking to lease an EXL with Nav and RES in SF Bay Area for 3 days now. The best I have gotten so far is 460 including tax.

I have not been able to get the great deals others hvae been able to get.
I am a self proclaimed poor shopper, am I missing something here.

All the salesmen and the managers told me was fig;s havhe changed etc etc and they wont be able to give me any better deals.

Any tips and pointers would be great.

Details
Net Cap Cost : 30200
Adj Residual : 18969
Tot Term Dep : 11230

Tot Montly payment 460 including tax

aviviv007

Hi OdyFam,

Pray can you tell us which dealer you went to in Northern CA?
You seem to have gotten a great deal, the best I have gotten so far is 460.
More than 40$.
I would love to get the same deal as you. Appreciate your help.

Thanks.

CarMan@Edmunds

Hi carterrand. The only advertised lease payment that I have seen for the Honda Odyssey is for the LX, so I don't know exactly how much the trim level that you are interested in would cost right now. I can tell you though that Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of an '08 Odyssey EX-L without navigation or RES with 12,000 miles per year are .00202 and 55%, respectively.

Car_man
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CarMan@Edmunds

Hi Terry . When were you quoted the .00163 money factor. According to the latest information that I have seen, Honda Finance's current buy rate for Super Preferred tier customers who lease an '08 Odyssey is .00202. Honda is providing $2,500 dealer cash that can be combined with this lease program.

Car_man
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CarMan@Edmunds

Hey Andy. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Odyssey LX with 12,000 miles per year are .00202 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Honda is providing $2,500 dealer cash on this van that can be used in conjunction with this lease program. The money factor and residual value are exactly the same for the '08 Odyssey EX, but the residual value is 1% lower for the EX-L.

Car_man
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CarMan@Edmunds

Hi cruiser8_8. According to the latest information that I have seen, Honda Finance's buy rate lease money factor for Super Preferred tier customers who lease a 2008 Odyssey is .00202. I have seen community members reporting being quoted a slightly lower factor, so I'll have to check to see if Honda has changed its lease program recently. Honda Finance's current residual value for a 36 month lease of an Odyssey Touring with 15,000 miles per year is 50%. The residual for a lease with only 12,000 miles per year is 2% higher.

Car_man
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CarMan@Edmunds

Hello Greg. According to the latest information that I have seen, Honda Finance's buy rate lease money factor for Super Preferred tier customers who lease a 2008 Odyssey is .00202. I have seen community members reporting being quoted a slightly lower factor, so I'll have to check to see if Honda has changed its lease program recently. Honda Finance's current residual value for a 36 month lease of a base Odyssey EX with 15,000 miles per year is 54%. The residual for a lease with only 12,000 miles per year is 2% higher.

Car_man
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daninoah

Car man:

I too was quoted the money factor of .00202 for the EX-L with RES, but was quoted the factor of .00163 for the EX-L with RES and NAVI. I am still waiting for the quote on the touring from my dealer.

sesarj

Where have you seen these changes? I am in the market for a Touring and my CA has not heard about the changes. What is the MF and Rsidual for a 12k 36mo lease?

marinite

Regarding a Touring no Pax, my dealer contact in the SF Bay Area just left me a message saying that the Dealer Lease Cash is $2500 and the new money factor is .00163 down from .00202. They likely switched it because so many people (myself included) stopped their active negotiations when the July 7th deals were significantly worse than June's. The new adjustments look like I'd only be paying $8.37/mo more which is better than $50/mo!

Makes me wonder what is in store since this m.f. and deal wasn't supposed to change until Sept 9th or so.

The residual for 36mo w/12k miles/year is 52% (what I was told anyway) on the Touring... not researching others but hope this helps.

Good luck!

spankspank

We leased an EX-L today 7/26 at Rock County Honda in Janesville, WI. Easy deal to sign because there was zero BS. Refreshing compared to many other dealerships.

36 mos/12000 miles
MSRP: 32845 (inc destination)
Sell: 27174
Cap cost: 27769 (inc acquisition fee of 595)
Residual: 18064.75 (%55)
MF: .00163 (super preferred)
Down: 527.55 (first and title/reg, no doc fee)

monthly:
$344.27 (no tax)
$363.55 (inc %5.6 WI sales tax)

This dealership doesn't force dealer installed options.
There may have been a few hundred more on the table but these folks quoted the correct numbers via email without shenanigans.

Thanks for the great information here.

tonymatteo

hello all, firstcrime looking at an odyssey, have had some negotiation

Here's my best offer so far

Touring with pax
36mth 15k
Taxes and upfront fees all rolled in
Dealer to cuta check for last two months of my current lease 1300
Free all season mats

Monthly px 610

Getting a quote sheet with m factor etc

At first glance, how does it look

edody

Hi Car_man

Can you confirm what the residual is for EX-L w/ RES & NAV? I'm getting quotes for 52% with 12k miles for 36mths. Btw, does honda have 10k miles/yr leases?

It sounds like there is a higher residual for plain EX-L's than EX-L's with RES & NAV. You would think it would be the opposite...

Thanks!

edody

aviviv007

Do you mind sharing which dealer you got that price from? Thanks!

sesarj

Which dealer? I may be will to go get the car in NorCal. The dealers I've talked to in SoCal don't seem to know about the dealer cash on the lease.

daninoah

We just signed a lease through AHFC. The money factor was .00163, with a cap cost of about 31,000 (I say about because I had wheel locks, mud guards, and aftermarket integrated blue tooth as part of the deal)

484 per month (including tax)
drive off of first payment + DMV docs (850 total)
3 years @ 12,000 miles per year
color: ocean mist

This is a better deal than I got on my trade in, which was a 2006 EX-L (RES only). On that lease, I put 2200 down, and paid 460/month. Not bad when you can get a better vehicle for less money. I guess there is some upside to a crappy economy.
BTW, I got the van at Scott Robinson Honda in Torrance, CA. Let me know if you need a hookup, I know the sales manager and my salesman was no nonsense and we did the deal in about 1 hour. They did not have the color we wanted, so they went all the way to Riverside to get it. :shades:

sesarj

How can I educate the dealership that the 2500 dealer cash applies to the lease with the MF .00163? He doesn't think it applies. I'm looking to lease a Odyssey Touring no pax. I want 3 years and 12,000 miles.