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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
$540 with Nav and DVD, and
$475 with no Nav and DVD.
This is a sign and drive (that is, no money down except first month and DMV charges), the taxes and other fees are built into the lease payments, the lease is for 36 months with 12K miles. No disposition fee or other junk fees at termination. Lease is through Honda Financing not some unknown bank. The dealer informs me that they are losing $500 after the holdback. Apparently, they "don't want to lose me as a customer," so they are willing to lose the $500. Based on your knowledge, are they telling me the truth or is there additional opportunity for a lower lease payment? Thanks for your help.
I have a rapidly maturing Ody lease (mid Jan) and have several questions about that part of it. I'll be getting a new one so once I get closer I'll post again asking RV and MF for whatever year and version of an Ody we decide on...
Inspection pre turn-in - should I detail the car before the inspection or should I show it to the inspector in "worst case" condition? If they see it looking bad and tell me what to fix, would they then look harder at it?
Is there any loyalty program at AHFC?
Thanks a ton,
Squirrel
Also, make sure that the dealer is using Honda Finance's current .00161 (top credit tier) buy rate lease money factor to calculate your van's monthly payment.
Car_man
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Honda Finance is not currently providing any special cash incentives on leases to loyal customers.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I need your feedback on the recent quote I got. Didn't get all the details though.
(This offer is from a dealer in MD state).
2009 EX-L with DVD and Navigation, 36 months Lease.
MSRP: $37525
Negotiated Price: Didn't ask. (maybe around 33.5+tax+accessories)
Total Initial Payment Check(All inclusive, no details): $3000
Monthly Payment: $463.84
Money Factor: Not provided. (The new lower one, provided by Honda)
Residual: 49%
End of Lease Buy Option:$18387.25
Miles: Not provided (I am assuming 12K).
Pls advise if it's a reasonable offer. I am not really looking for the 'lowest'.
All responses appreciated.
Thanks in advance.
Just make sure that the dealer that you are working with uses Honda Finance's current buy rate lease money factor of .00101 (for customers who qualify for its top credit tier) to calculate your monthly payment and you're in business.
Car_man
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I got the 2009 lease for 36 months for EXL at $365/month plus tax with $3,000 down for drive off which includes first month and tax and license. The MSRP is $34,000. Is this a good price? Please help.
Every New 09 Odyssey EXL
Lease $368/Month
With MSRP of $33,725. based on 12,000 miles/year, .20/mile excess; based on ZERO cash or trade down. Security deposit waived. $368x36, 51% res. Price excludes taxes, documentation, title, and registration fees; prices include all customer rebates, promotions and incentives to dealer. Lease #152937
Holiday greetings! When you see this, would you mind posting several permutations of current lease terms for the Odyssey? I'm going to get one in the next week but given tight inventory of 08s, I'm not sure what I'll end up with, so rather than come back each time, if you are willing to post various options, I can cook the numbers from there...
Anyway, would greatly appreciate MF and RVs for both 2008 and 2009 Ody EXL three ways: (1)plain, (2)with RES only and (3)with RES and Nav.
I'm planning on 36 month w/ 15K per, but if you don't mind posting the numbers for other terms and mileages, that would be helpful.
Last but no way least, is the $3500 cash still avail till Jan 2 on 08 Ody's?
Thanks, and Happy New Year,
Squirrel
It seems like a pretty good deal.
Edited: never mind - found it on the web - Boch Honda. Not too far from me either.
We just leased a 2009 Odyssey EXL with DVD player.
12k mileage lease for 36 months. Paid No money down except for $700 to cover tax tags and first month payment.
The payment comes to $527 per month.
Is this a good deal for the lease?
selling price $26950, residual $16510, monthly payment $365 + $595 bank fee, $250 doc and $300 registration. Do you guys think this is fair?
My current lease expires in mid Feb. Any comment to skip the year end deal and wait for the new promotions?
Does anyone know any details for the new incentives? Or are they giving up their dealer holdbacks to sell? I don't see them moving a lot of cars and even Honda is going to have to give bigger incentives than they historically have been.
For example, using the residual and money factor in the advertised lease, cooking the acq. fee into the lease and using as the selling price of the van invoice minus the $1250 incentive from this past weekend (so zero dealer profit on the sale, excluding floorplan/holdback money), the monthly payment is still just over $400 NET of taxes and for me, would be $436 with tax. And that's with paying a security deposit up front. If you want a true no-money-down deal and not pay a sec. dep., the dealer will probably bump the money factor to .00111, raising the net payment to about $410 without tax.
As to the dealers not moving cars: yes, yesterday's news on national car sales was atrocious, even for Honda (down ~35% over the previous Dec.). However, there are some other things at play. Dec. Honda sales were up about 10,000 vehicles sold over November, a trend that seems to hold true across other mfgs also. As well, I just bought a new Ody last night and my store was humming - my guy had sold 11 cars personally in January already, and it was only the 5th. They are one of the top 50 Honda stores nationally in volume, but still, some cars are selling.
If you can lease the EXL in Mass then check out Boch Honda > Promotion > Month ...
Sign & Drive with ZERO out of pocket, 368/mo before tax.
Every New 2009 Honda Odyssey EXL MSRP $33,725
Lease for only $368/Month
Lease requires approved credit; based on 12,000 miles/year, .20/mile excess; Lease based on ZERO cash or trade down.
Security deposit waived. $368x36, 51% res. Price excludes taxes, documentation, title, and registration fees; prices include all customer rebates, promotions and incentives to dealer. Lease #152937
Appreciate the feedback. You answered my question about the $1250 incentive over the weekend. I guess I missed the train on it. Do you think they'll still honor the deal? I also see they did not replace the just expired incentives with new ones. Or there's more coming?
I'm reluctant to make a deal now and find out in a month or so there's a better deal out there.
Regards
Its useful to know these incentives up front before we go into the dealer as they'll never willingly give them up. Amazing as they're sitting on a lot of inventory and you'd think they'd want to make a deal.
Appreciate all your feedback on this forum.
Regards
Honda Finance's new January buy rate lease money factor and residual value for a 36 month lease of a base 2009 Odyssey EX-L with 15,000 miles per year are .00250 and 48%, respectively. The money factor for an EX-L with RES drops is the same, but the resid drops by one point to 47%. The resid for an EX-L with RES and Nav is two points lower at 46%.
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Odyssey EX-L with 15,000 miles per year are a much less attractive .00310 and 43%. Again the resid drops by one point for RES and two points for RES and Nav.
Honda is currently providing $1,250 dealer cash on the '09 Odyssey and $3,500 on the '08 Odyssey. Make sure to take this cash into account when negotiating the capitalized cost for your lease.
Car_man
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Car_man
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MSRP: $40,680 Invoice: $36,884 TMV:$31,743
Is this reasonable? Does it include the $3500 Dealer cash for '08s
Mir
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
EX 12K miles - Money Factor? Residual? Term?
EX-L 12K miles - Money Factor? Residual? Term?
Thanks in advance!!
I am looking to lease a 2009 Odyssey EX-L with NAV & RES in Los Angeles area. Just got a quote from a dealer - $37,675 MSRP, $32,702 INTERNET PRICE. I haven't told the salesman that I want to lease the car yet.
Is this a good starting price to start negotiating with? Anyone has the money factor and residual out there? I am looking for 36months, 12K/year.
Thanks for the help.
Michael
Higher money factor, lower residuals
Went to 2 dealers today. Of course, when they hear that you are leasing the car, they just want to focus on how much you want to pay per month. Anyway, the first dealer (in Monrovia) quoted me $560 on 38mo/12K with $970 drive off (includes first month and doc fees). The money factor was 0.0025 and residual 48%. I back calculated the cap cost to be somewhere around $32850. I didn't think it was good enough so I told him I would think about it. The guy was pretty professional and said if I changed my mind to give him a call.
The second dealer (in El Monte) sucked. I asked for the guy whom I have been communicating through email. He came out to greet me and seemed friendly. Then we started talking a bit about the van and I told him what I want to pay monthly. He wrote down the numbers and then left. Five minutes later he came back with some guy who says he can take me to their lot to find the color I want, and he will take over after that. I said ok. So off we went, saw the van, decided on a color and then came back to the dealership. He wrote down some info for credit check and then five minutes later he came back with another guy to handle the negotiation. I was not happy being handed off like that. Anyway, this guy came in with some ridiculous numbers, like $600/mo with $6500 for my trade-in (I left out the trade-in at first dealer because their quote was too low). I calculated the cap cost to be more than the MSRP! I was like, "yo, you've gotta be kidding." I felt really insulted. Anyway, we went back and forth a few times, his best price was $589 for 39 mo/12K with $1000 drive off. I was pretty disgusted with how I was treated so I walked out.
Well, I hope tomorrow is a better day. Got a couple more dealers to hit...
Michael
If you want to lower your payment slightly, you can stretch your lease out to 39 months. Honda Finance's money factors for 39 month leases of this van are exactly the same, but its residual values are 1% lower.
When negotiating the capitalized cost for your lease, make sure to take the $1,250 dealer cash that is currently available on this model into account.
Car_man
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I was talking about this with someone the other day. There are still some decent leases around out there, but one has to look harder for them than they used to. The days of completely unrealistically high residual values and absurdly low money factors seem to have come to an end.
Car_man
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As far as this model's current lease program goes, Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2009 Odyssey EX-L with Navigation and the entertainment system with 12,000 miles per year are .00250 and 48%, respectively.
Car_man
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At this point I'm considering the Chrysler Town & Country as an alternative because of the incentive packages. Anybody have any insight into what March will bring from a money factor perspective for the Oydessy 09.
2,9999.00 Down
299.00 monthly
39 month lease
2,105 capitalized cost reduction
12,000 miles per year
I am wondering if, or how, I can do better. Ideally, I would like to get into an EX-L for the same terms. I live in Oregon and have identified about 10 honda dealers that I can negotiate with but have not contacted them yet. Is this possible, or am I dreaming?
Drove a Chrysler T&C today and they are offering TONS of rebates (Chrysler no longer leases); employee pricing, etc... but vehicle is not as nice as the Honda for sure. They offer a really nice 36,000 mi bumper to bumper warranty with free towing and a lifetime powertrain warranty.
Now, I'm also curious about the federal economic stimulus package that may contain a tax break for new car buyers and am now thinking of buying vs. leasing! Too much to think about.....please help!
http://news.yahoo.com/s/ap/20090204/ap_on_go_co/congress_stimulus_66
Car_man
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If Honda offered the same money factor for the Odyssey as they do for Pilot, the payments would be about $40 less.
financing amount $40,000 x difference in money factor 0.001 = $40 /month
Pilot MF : 0.0015
Ody MF: 0.0025
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Monthly payment (with $0 down) on a 39 month lease is $541 (47% residual, 0.0025 money factor, 12K miles/year). Does this sound like a good deal?
Also... I am trying to decide on 36 vs 39 vs 48 month lease. 36 has a 48% residual, 39 is at 47%. Money factor is 0.0025 on both. Anyone know what the residual and MF are on a 48 month?