2013 and earlier-Honda Odyssey Lease Questions

gsvipul

Thanks for sharing your Lease info and I would like to know where you got this deal if possible dealer and sales person name. I am wondering if you paid any TTL or first month payment at all when you say 0 down. Would appreciate if you could kindly post this info.

Scroodge

I am in Chicago NW burbs... The dealer I am working with is Scott Duff at Pauly Honda in Libertyville. Highly recommended. Just go in with all the information and know what you want. The original internet quote came from Mike Lis at O'Hare Honda. Don't know much about him other than he's got that price too.

My $0 down means... First month payment and fees upfront ($600 and change), taxes capitalized (i.e. part of monthly payment).

bigdadi118

Boch Honda in MA has "TWO" special (just check still in stock #62129, 63283) this week
based on 12,000 miles/year, .20/mile excess;
Zero cash or trade down plus tax & fees. Security deposit wavied.
$178 x 39mo,
52% res.Price excludes taxes, title, and registration fees;
prices include all customer rebates, promotions, and incentives to dealer.
exterior color = mocha, ivory, MSRP: 26,925
* Zero cash or trade down MEANS NO TRADE-IN

spotwiz61

"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? "

Great deal since I looking around during the President's Day sale & I got the usual high price first then the middle price as I was about to walk out the door and a lower final price at the end.

Starter price was $589 for a EX-L w/ RES! This was at Huntington Honda too! NO TRADE IN EITHER.

If you got $541 w/ Nav & RES then it's a good deal w/o tax. I still feel I can get the EX-L w/ RES closer to $500 after President's Day deal reveal lower than expected sales.

Bottomline is that the economy suxs and walking away results in the dealer calling you back the next day.

GL

lgbeef

I just saw the Boch Honda adv for the LX at $198 per month for 39 months with no trade in. What am I missing? I looked at buying the new Town and Country because of the incentives and "deals." I felt more comforable buying and not leasing, but this sounds like a good deal. What is negotiable and what do I need to look out for? Boch is the biggest dealer in the Boston area, but that is not always the whole story.

robertinohio

I received quote for EXL with RES for 39 mo $650 down, $459/mo plus tax. Just trying to decide on Odyssey vs Sienna. We already have an Odyssey and like it. But not sure I want the same for another 4 years. Also weighing option about DVD player. I can save about $35 mo if I just get EXL. NE Ohio

redly_one

look for the asterisk. Anytime there's a payment that low, it usually involved 25% down

bigdadi118

Now LX was changed to 258/mo. The great lease deal lasted only 3 days 2/14 to 2/16.

raechris1

I enjoy these threads so I figure I should contribute as well. I just negotiated for an 09 EX-L w/RES, fresh from the factory (still in transit), a price of edmunds invoice (incl. dest.) minus the 2250 incentive, minus 700 holdback = 29,200. I did the lease with a 36 mo. term with 49% residual and .0025 (6%) money factor. I had a trade of 5k that brought my payment to $327. I am happy with this purchase and shopped all the local dealers. Ended up at Weymouth Honda, MA and the sales manager (rules say no salesperson names) was great. Very straight forward and a pleasure to deal with. Now just waiting for the vehicle to arrive.

Scroodge

Looks like the deals are getting better for everyone... Good times . Just picked mine up -- the wifey loves it .

BTW, my $541 include illinois lake county taxes (i.e. 7% of full cap cost).

To someone who is trying to decide whether to get RES... If you have kids (which you probably do if you are getting an Odyssey), get it. It's been less than one week, and that's the feature my wife loves the most -- the screaming, fighting, and "are we there yet" have almost stopped. It's magic!

To me RES was more important than Nav. I have to say I am not overly impressed with Honda's Nav system, but it's nice that it's there.

bigdadi118

It is called SIRIUS BACKSEAT TV ...

I saw in crutchfield catalog lately that one can add-on Sirius TV that will pull in TV channels of NICKLODEAN, DISNEY, CARTOON NETWORK, etc for $6.99/MO for backseat while front seat can listen to Sirius radio.



http://www.carspace.com/bigdadi118/Albums/bigdadi118%27s%20Album/Backseat_TV.jpg- /page/photo.html#pic

spotwiz61

Today's newspaper ad has a deal for EX-L w/ RES for $425 w/$0 DN FOR 39mos, due at signing is the bank fee $595, Dest charge $670, tax & tags.

I estimate rolling the bank fee/Dest/Taxes into pmt would make this deal at $505

Normal 36mo lease one would add $33 per thousand as a rule of thumb.

looking4one

my current lease expires in 2 months, i'm considering jumping on the exl w/res and navi now...

Scroodge

It's near impossible to tell. I've tried to get this kind of info in the past, and never succeeded -- and not for lack of trying. The dealers get this info on the first of the month (sometimes third or fourth or thereabouts). A day or two later it gets published. As I understand, incentives are decided month-to-month based on monthly forecasts, which are a factor of economic conditions, demand, competition, etc. So the quick answer is.... don't think you'll find out until March.

That said... given the economic conditions, I doubt Honda will remove cash incentives or even scale them back. The financial terms are another story... they are crap now, and I have absolutely no idea where they are likely move from here.

CarMan@Edmunds

You're very welcome, salesdoll. Yes, that's exactly what I meant. Honda pays for the dealer cash so from the perspective of purely looking at this van's dealer discount your deal is equivalent to slightly over invoice. You can ask for what ever you want to, but I doubt that you are going to be able to do much better than slightly over invoice minus the available dealer cash. The dealer is making very little money on this deal at that level.

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CarMan@Edmunds

I'm glad that you enjoy the leasing discussions so much, raechris1. Thanks for taking the time to give back and share the details of your new lease with everyone. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Congratulations on getting your new van and enjoy!

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CarMan@Edmunds

Hi looking4one. Honda's current lease program for the Odyssey is scheduled to run through March 2nd. It is difficult to say what its new March program will look like. If I had to make an educated guess at this point, I would say that it will be very similar to its current program...but it is difficult to say for certain. If you decide to wait, please feel free to check back with me on March 3rd or so and I will be happy to fill you in on the details of the new program.

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hbq

Carman - do you know the current lease terms on a base EX-L (no res/nav), 36month, 15k/yr?

Thanks for all the information you've posted - extremely helpful

looking4one

now that the feb incentive has expired, do you know what the current incentive is?

sueesponte

I'm looking for a lease rate on an EX-L preferrably with RES but if the pricing works out much better without it, then without is fine, too.

My '06 Pilot EX-L is coming off of lease soon and I think we got a great rate on it for 42 mos ($369/mo incl 6% tax, absolutely nothing down/paid at time of acquisition and 1st mo free).

I know I'm probably not going to get near that today on an '09 Odyssey but what should I expect to pay on a 36, 39 or 42mo lease with 12K mi/yr?

Thanks!

looking4one

Carman, what are the current incentives. are they better than feb's incentives?

vinehill

Here's are two decent links showing monthly Dealer rebates/incentives & Customer rebates/incentives.
It has the new data for March 2009, released on the 3rd so it appears they update in a timely fashion. May be worth a bookmark if your looking to buy in the next few months.
Dealer Rebates/Incentives
Customer Rebates/Incentives

vinehill

Reviews of Boch dealerships are extremely negative.
I would strongly advise anyone considering purchasing or leasing any car do a search for dealer reviews.

Edmunds has reviews of dealers located here: Edmunds Dealer Ratings & Reviews

The Better Business Bureau can be a resource. Look at the type and number of complaints. If a dealer/business is listed but doesn't have any complaints this is an indicator of better quality. I would avoid any dealer who has a repeating number of complaints (ignore the grade rating, the worst dealers can still receive an "A".)

A search at the Better Business Bureau reveals multiple complaints at Boch:
Boch - BBB Customer Complaint History
- Sales presentation misrepresented the product
- Sales presentation not consistent with the written agreement
- Sales presentation used dishonest sales practices
- Sales presentation used high pressure methods
- Failure to correct billing errors
- Unauthorized credit card charges
- Failure to honor a contract or agreement
- Invalid or false contract
- Failure to honor refund, exchange or credit policies

elephant22

Does anyone have the money factor and residuals for the Mar incentives?

Thanks

newhondain2009

Does anyone know what the current lease rates are on the Odyssey. Also, how much can the individual dealer tweak w/ the terms of the lease or is it all up to Honda corporate?

CarMan@Edmunds

You're very welcome, hbq. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Odyssey EX-L without navigation or the entertainment system with 15,000 miles per year are .00250 and 47%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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CarMan@Edmunds

Hi ooking4one. Honda is currently providing a $2,500 dealer cash incentive on the 2009 Odyssey. this cash is compatible with its special lease program. Make sure to take it into account when negotiating the selling price of the vehicle that you want.

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CarMan@Edmunds

Hi sueesponte. This van's monthly payment will vary depending upon what sort of selling price you are able to negotiate. For the purpose of working up a sample lease payment for you, I will assume that you are able to negotiate a selling price of $500 over dealer invoice minus the $2,500 dealer cash that is currently available on this model.

According to my calculations, if you were to lease a 2009 Honda Odyssey EX-L with the entertainment system that has an MSRP of $35,425 and a selling price of $30,151 through Honda Finance right now for 36 months (this is the longest term that its special program is available for) with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $475.

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CarMan@Edmunds

Hey looking4one. Honda raised its dealer cash on the '09 Odyssey from $2,250 in February to $2,500 in March. It's lease program is about the same.

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CarMan@Edmunds

Greetings elephant22. Honda's lease program for the Odyssey varies by trim level. You never mentioned which one you mentioned, so for now I will provide you with information on the program for the base model. This can's program varies by term and mileage allowance too, so I'll have to make some assumptions there as well.'

Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2009 Honda Odyssey EX with 15,000 miles per year are .00250 and 50%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

When negotiating your lease on this car, make sure to take advantage of the $2,500 dealer cash that is currently available on it.

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CarMan@Edmunds

Hi newhondain2009. Honda Finance's current special buy rate lease money factor for the 2009 Odyssey is .00250 for up to 36 months for consumers who qualify for its top aka "Super Preferred" credit tier. This factor is set by Honda and individual dealers do not have the authority to lower it. Dealers are often allowed however to mark up vehicles' base money factors to add additional hidden, back-end profit to deals. That's why it is always a good idea to know what the buy rate is for the model you want prior to visiting any dealers.

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mrscute

Hi Carman,

I am lookin to lease Odysse 2009

my payment max around 350

Zero down if possible

Can you pls advise me what should I do

One dealer offer me EX 24,300+plus fee

jafrances

Can anyone tell me if the following is a good deal on Long Island, NY:

EX-L, 18k/yr, $2,500 down + DMV($67), $465/mo

elephant22

Thanks Car_man,
I'm look for a base EX-L, 12K miles/year. Looks like the MF didn't change and in my opinion is high.

Regards

mrscute

Hi carman,

Honda Odyssey EX wOTD 26500

how much is it the lease payment for no DP and 36 month?

newsuvbuyer

Anyone lease a Touring without PAX recently? Looking for current MF and residual for 36 month lease. I assume the $2,500 incentive still applies. Need to convince my dealer to take back my 2007 Odyssey Touring 8 months early instead of paying $1,500 to have my PAX tires replaced for only 8 months of driving...

daknits

Hi Car man,

I am about to sign a lease tomorrow morning, and want to make sure I'm getting the best deal ...

I live in Miami, Florida and went to Holman Honda. I am getting an EX-L with navi and DVD for $520/month plus tax (so a total of $555/month) for 36 months and $1200 down (inceptions) and 12,000 miles per year. I really wanted a Touring, but the best deal I was quoted was $640/month (including tax) with $1200 down payment (inceptions) for 36 months and 12,000 miles per year. I negotiated using Edmonds website "True Price" and the $2500 manufacturer to dealer incentive, but can't get a better deal. Our credit is over 700.

Am I getting a good deal?

THANKS -- I have to pull the trigger tomorrow because I am turning in my current car.

daknits

Just wanted to update that I leased the EX-L with Navi and RES today -- I ended up adding the wheel and rim protection for $10 more a month for a total of $565 a month including tax, for 36 months, 12,000 miles/year, and $1200 down -- and they threw in wheel locks. My husband insisted on the wheel/rim protection, a total cost of $300 spread over the 36 months... not sure if this was necessary but he thought it was, so we got it. This is my first minivan, and as minivans go, I like it.

Was this a good deal?

mrthnman

what state are you in ? how much more did they want for the touring ?

ale

Hello. Went looking at Odyssey's this weekend in NH and went to AutoFair Honda in Manchester, NH and they had an LX for lease for $265 for 36 mths with 2000 down. While looking at the Sunday paper I noticed Boch Honda in MA was offering the Odyssey LX for 218. Is this good? Thanks.

daphne1

I live in the Chicago area and just leased an EX-L with these terms....

36 months
12,000 miles per year
All taxes, title and fees rolled in (included)
Only 1st payment and plates down ($633.00)
$465.00 per month

Most of the dealerships said I was crazy and would never get that deal, but, I did! FYI, the dealership used a tax credit to make the deal work for me. All of this was negotiated over e-mail.

daknits

WOW, that's some deal!!! Was it a base EX-L or did you also get navigation and rear entertainment system?

daknits

I'm in Miami, Florida. They wanted about $100 more a month for the Touring.

hbq

The best lease quote I've received for an EX-L, no extras, 36mo, 12k/yr lease was for $600 up front and $425 + taxes/month, in the SF Bay Area.

tradermom

Hi Car Man:
In desperate need of help, having a difficult time getting a good price on leasing a Honda Odyssey EX-L. So far, the best price I have been given from the Florida Honda dealers is $1,274 down $405 monthly payment (includes tax) for an EX!! Would prefer to get an EX-L with DVD. Is this possible? Credit score is very good
Any input would be greatly appreciated.

dewnay67

I am getting a price of $468 for EXL+RES, 36month, 12K, $2500down. Tax/DMV separate. Trying to lower the down payment and not let it roll into the monthly...wish me luck. This is the NYC area.

daphne1

It was the base, with a few extras, no DVD or Navi though.

dewnay67

This was a big decision...but i hope i got a good deal carman. $480 x 36, 12K, $2100 down. No destination fee, $207 for DMV. This was for a EXL with RES. They also threw in the visor for the roof. NYC area. What do you think? Thanks!~

yingyang2

Looking to lease EX-L w/ RES over next week or so in Ocean Co, NJ. Anyone else in NJ who want to share their deals or experiences with me? I am looking for 0$ down.

Also, I am returning 2006 leased Odyssey w/ over mileage - am paying final payment on Wed...should I try to negotiate the final payment and overmileage in the deal or does this just create more "messy" numbers for me to get best deal?? Any thoughts?? Thanks!

new_bee

Hi Carman.....
I need advise...

I live in CA and like to lease new Odyssey EX
I don't really need it now (but I tried to avoid DMV license fee increasing in CA)
When is the best time to lease it?
Should I wait until year end clearance? or end of year?

Pls advise me...