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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
price of vehicle $27,964
0 down $492.84
1000 down includes first payment $459.63
Car_man
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You are correct, the $2,500 dealer cash is still available on this model.
Unfortunately, I doubt that you are going to have much luck getting the dealer to take your current Odyssey back eight months before your lease's scheduled end date. It will likely be very expensive for you to get out of your lease this early.
Car_man
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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 calculate your monthly payment using its buy rate lease money factor. Let's see what a cheap lease payment would be on the van that you are interested in. According to my calculations, if you were to lease a 2009 Odyssey LX that has an MSRP of $27,025 and a selling price of $22,060 ($500 over dealer invoice minus the $2,500 dealer cash) through Honda Finance right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment would be around $313.
Car_man
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Car_man
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If I had to make an educated guess, I would say that Honda's May lease program will be at least as attractive as its current one, if not better. Again though it is impossible to say what will happen for certain in today's environment.
Car_man
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I am in Miami, Florida. I leased the EX-L with Navi and RES with wheel and rim protection and wheel locks for a total of $565 a month including tax, for 36 months, 12,000 miles/year, and $1200 down.
What do you think?
I am hopeful this will lead to better deals on the Odyssey (lower money factors and increased cash) in April. However, from February to March there was little or no change in the money factor and a slight increase in cash.
This is just my thoughts; and should not be misconstrued as advice on an automobile purchase.
I am getting EX-L with no RES, no NAV for $27,500 before tax. No downpayment and $460 per month AFTER tax. Is this decent? I am not even expecting to get the best in town deal, but just don't want to be paying too much. I am in CA. Thanks
Car_man
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Car_man
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(I leased the EX-L with Navi and RES with wheel and rim protection and wheel locks for a total of $565 a month including tax, for 36 months, 12,000 miles/year, and $1200 down. I live in Miami, FL, and we have a 7% tax).
I am trading in (before my lease term expires) a 2007 Odyssey EX-L RES with 38,000 miles. I'd like to lease a new 2009 Odyssey EX-L RES for 36 months - 15,000 miles per year. What should I expect my new lease payment to be and what purchase price should I negotiate for? The payoff on the current lease is $21,103. I am looking for an OTD monthly payment with no money due at signing (except for the first months payment). The sales tax is 3% in Virginia.
Any help/suggestions would be greatly appreciated... thanks!
I have decided to lease the Odyssey EX 2009
any one with currently lease this vehicle
Pls give me monthly payment with tax included already
I am looking little or no DP
tks so much....
New.............Beeeeeeeeeeeeeeeeeeeeeeeeeeeeeee :shades:
The "agreed upon value of the vehicle" was $31,590.96. The aquisition fee and other fees totalled $944 for a total gross capitalized cost of $32,534.96. Does this help? Thanks, Car_Man!!!!!
(I leased the EX-L with Navi and RES with wheel and rim protection and wheel locks for a total of $565 a month including tax, for 36 months, 12,000 miles/year, and $1200 down. I live in Miami, FL, and we have a 7% tax).
27mth lease, 15k miles, $1500 out of pocket, for $755.00/mth
or
36mth lease, 15k miles, $1500 out of pocket, for $658.00/mth
Note, three accessories are also included in the above: all season matts, cargo board (to cover trunk well) and 3rd row sunshades... as our two older kids will be back there after the twins arrive this month!
The selling price is noted to be around $35000 - but last rounds of negotiation between dealers focused on simply cutting the monthly rate so I am not certain of current price it is based on.
Appreciate a quick reply as we are looking to make a deal this Saturday -- assuming there is a deal here (!?)
On a related note, we are about to turn in an EXL so I know that the leather is another option. Bottom line, we don't need the leather and are hopefully looking to save a few bucks by just going with the EX. THANK YOU!!
Using these prices, I estimate that this van's 36 month, 15,000 mile per year, zero down, pre-tax monthly payment would be around $492.
Car_man
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Using these prices, I estimate that this van's 36 month, 15,000 mile per year, zero down, pre-tax monthly payment would be around $388.
Car_man
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The selling price that you were quoted appears to be right around dealer invoice minus the available incentives. That is a very good deal. Just make sure that the dealer is using Honda Finance's current buy rate lease money factor of .00250 (assuming that you qualify for its top credit tier) to calculate your monthly payment and you're in business.
Car_man
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This is the best I could do with no money down and paying all taxes/fees upfront:
36mnth - 12K m/yr
EXL - $419/month
EXL-RES $455
I am really disapointed on the EXL-RES price. On my current '06 EXL-RES I am paying $428 and if memory serves me correctly I could have leased the '06 EXL for $390 a month. But then again I think the residual was actually 60! Now it is 49!
According to my calculations, the 36 month, 12,000 mile per year, zero down, pre-tax monthly payment for the vehicle described above would be around $475 for consumers who qualify for Honda Finance's top aka "Super Preferred" credit tier.
I based these calculations on the EX-L because the RES is not available on the base EX model. If you are able to find an EX with an entertainment system it was dealer installed. I am not sure if Honda Finance will allow the residualization of such a dealer installed option. There is a good chance that it won't. If that is the case then you would have to pay for its entire cost over the duration of your lease.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Offer from sales person was:
09 Odyssey EXL w/RES no nav
MSRP - 35,425
Sale Price - 29,750
Trade - 5500 (2001 Odyssey with 108K miles)
Using the trade down which covers first payment, tax, and license payment on the 36 months 36k lease is 359.89. With the 36 month and 45k it is 379.76.
Residual on the 36k lease is 17,358.25 and on the 45k is 16,649.75.
Looks like Blue Book invoice price is $32K.
Thanks!!
09 Honda Odyssey EXL AT (IN STOCK ONLY) $30,705.00
36 months
15K mi per year
$0 down
First Payment at signing
$559.00 per month
_____________________________________________________
Thank you and if possible can I get help getting the monthly payment estimate of a
09 Odyssey EX-L/ with and without RES
36 Months
15K Miles
No Down Payment
Thank you so much for your time and help.
I'm not the brightest bulb when it comes to understanding all the financials involved with leasing. But in your opinion, is it necessarily a bad thing to have the RES (or any other option) added as dealer installed if Honda Finance won't residualize the option? How should I weigh the pros and cons of something like this? Thanks for your advise!
This is our scenario, too. Leasing EXL-dvd. Our best offer is $1,500 down and $492/36mo 12K. Looks like we can do better compared to your calculations.(??) The only difference I see is that you quote a pre-tax monthly payment. I believe ours is OTD including tax. Is our deal atttractive?
Also, do you believe the dealer cash back ending Thrusday will be replaced by something better? Or should we heed to the pressure to get this finished up this week with current incentives?
Thanks so much. You are the greatest for answering all our questions.
Have the incentives, MF, residuals, etc. for an Odyssey EX-L w/ RES changed for May?
Thanks for all your help!
Thanks!
The dealer gave me monthly payment quotes of $415 for the EX and $534 for the EXL RES. Both situations have $0 down, 12K miles, 36 mo, and assume a .00250 money factor.
I asked if they could quote me on a 48 month lease for the EXL RES in an effort to get my payment down in the low $400's, but they came back saying that a 4yr lease on the EXL RES would increase the money factor and my payment substantially. They neglected to let me know what that would be. So they simply quoted me on the 36 mo.
So 3 questions....
1) On the EX scenario, is that a good deal? You had previously worked up some estimated payments for other people and your figures were in the $380 range. What am I missing.
2) On the EXL RES scenario, also curious if that's a good deal. Your estimates have an estimated lease payment of about $475 per month.
3) Also on the EXL RES scenario, what money factor should I assume for a 48 month lease at 12K miles. I will qualify for Honda's super tier credit, but according to my dealer, .00250 isn't an option for 48 months. Can you help work up a payment here?
I live in MN where the tax rate is 6.5%. Thanks for your help!
For some reason I'm having trouble making sense of the numbers you quoted (not your fault).
An EX-L + RES has an MSRP of $35,425. Assuming you're going through Honda Finance, a sales price of $29,750 would give you a monthly fee of $470.94 (or $501.55 with 6.5% tax) on a 36mo, 12K mi/yr lease with $0 down and a .0025 money factor. That's A LOT less than what your dealer is quoting you.
How much are they telling you is due at signing? All I'm paying is first month, bank fee and DMC. Your dealer has to be building a lot more into their pricing than they're telling you. Maybe the bank fee and some advertising fees, too?
As far as I can tell, something just doesn't make sense in what they're telling you.
"For money down I used the standard 1st payment and plate fee.
EX Odyssey: Payment: $414.74/month with $886.74 due at signing. Total Tax $919.99, plates $371.00.
EXL-RES Odyssey: Payment: $534.25/month with $1,072.25 due at signing. Total Tax $1,196.07, plates $437.00."
Thanks for your help!!
Internet price $26,984
MSRP33,155
Docs 199
I would pay inception fees and tax (8.35)
The payment would be 427 a month.
I am coming out from a honda lease now so I should be in the tier 1.
Is this a good deal can I do better on the price.
I also quoted for EX the lowest I got was 23,161
Thanks
$430/mo (which includes 6% tax)
$1130 due at signing (which includes 1st month, bank fee and DMV)
36 months
12K mi/yr
.00250 money factor
Good luck!! Try sending an email to a few other dealers to shop your quote around. It never hurts to create a little competition.
I was just quoted for the 2009 EX the below monthly payment. Is this considered a good deal? My intention is to buy the car at the end of the lease, is this the best route and how do I negotiate this lower (if possible)?
The Odyssey EX is $25,775.00 thats the selling price with $3,000 out of pocket your payments will be $357.61 a month at 6%. Thats not including motor vehicles fee. with $5,000 your payment would be $287.93
The motor vehicle fee is $299.50 and the lease price for you to buy would be $15,665.00
Thanks in advance
I'm looking for the residuals and money factors on the LX and EX for 36 months, 12k miles.
Thanks!
Car_man
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The dealer cash that is currently available on the 2009 Odyssey is exactly the same as it was in April, $2,500.
Car_man
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When negotiating your lease, make sure to take advantage of the $2,500 dealer cash that is currently available on this model.
Car_man
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Car_man
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