2013 and earlier-Honda Odyssey Lease Questions

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  • ajcohenajcohen Member Posts: 18
    Hey Everyone,
    I was offered a mf of 1.0039 with a residual of .53 (another dealer said .54) on a 2010 EX-L
    I was wondering if those were correct and also what would mf and residual be on a 2010 EX-L with NAV.
    I am here in San Francisco, Ca.
    Thanks so much,
    AJ
  • groundslothgroundsloth Member Posts: 9
    Is it 55%? If anyone knows please confirm.

    Thanks!
  • socal_bbfansocal_bbfan Member Posts: 2
    We leased a 2010 EX-L RES, No NAV, 12k 36m was 52%...I believe with Nav was the same
  • robbygrobbyg Member Posts: 61
    Hi Car_man, can you post the December lease rates for a 2010 Odyssey EX for 36 months and 12k miles? I'm in the Los Angeles area. Also, do you know if Honda provides any special incentives for returning lease customers?

    Thanks
  • skironmanskironman Member Posts: 2
    2010 Ex L , Orange County
    $31,574
    MF .00139
    Res 53% (18,080)
    36 mo, 12k

    Seems like a solid deal - anyone disagree????
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi robbyg. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2010 Odyssey EX with 12,000 miles per year are .00139 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    This lease program is scheduled to run through January 4th.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello robbyg. Here's the info that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a base 2010 Odyssey EX with 12,000 miles per year are .00139 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Unfortunately, I don't believe that Honda is currently running any loyalty incentives on this model. In general, Honda is not big on loyalty cash.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi skironman. The money factor that you were quoted is right in line with Honda Finance's current buy rate for this model. That is a good thing.

    Let's take a look at the other important variable here, the van's selling price. A base 2010 Honda Odyssey EX-L has a dealer invoice price of $30,970. The selling price that you were quoted, $31,574, is around $600 over invoice...which is a pretty good deal.

    If you like this vehicle, I personally don't see any reason not to go for it.

    Car_man
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  • groundslothgroundsloth Member Posts: 9
    Still .00139 and 52%?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey groundsloth. .00139 and 51%.

    Car_man
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  • buckeyedavebuckeyedave Member Posts: 7
    Hi Everybody, we're in the market for a new van and realy like the EX-L RES. Our current vehicle lease runs out in mid-January. What are you thoughts on whether Honda will offer any incentives between now and mid-January?

    The current pricing is okay but not great. They want $520/mo and $700 for first month and fees at signing, which is 52% residual and 0.00139 money factor. Just feel I need something a little more to pull the trigger...

    This would be our first Honda. Has Honda historically done anything to close out the year strong around New Year's or for January? Do you feel they may do something this year or hold tight?

    thanks!
  • jayriderjayrider Member Posts: 3,602
    If you go into the dealer on new years eve and can't get the best price available, I'd be surprised. The money will come from the capcost. The mf and residual are set. Of course this assumes you have top tier credit ratings.
  • buckeyedavebuckeyedave Member Posts: 7
    Thanks Jayrider... speaking of top tier credit, do you know what credit score you typically need to qualify for Honda top tier credit? Just ran an Experian report and came back with 732.
  • jayriderjayrider Member Posts: 3,602
    Don't know what the top tier numbers are but 732 is pretty good. You might want to try Xmas eve first. Yahoo autos confirms these two days yield the best deals.
  • gerry10gerry10 Member Posts: 6
    Carman,

    Would you please post the residuals for the EX-L w/RES-NAV and the Touring for a 36 month 15Kmi/year lease?

    Thanks for the help!
  • b5150b5150 Member Posts: 7
    Car Man - Curious for your opinion on something.

    Just got the following deal from a Honda Dealership in New Jersey on a 2010 Odyssey EXL with RES.

    Details:

    MSRP: $35,715
    Selling Price: $32,277.09 ($34069 w/NJ Tax)
    Residual : 52% ($18571)

    Total Due at signing was $1592: $488 Monthly Payment, $310 NJ Registration, $249 Doc Fee, $7.50 tire fee and a "Bank Fee" of $537. 36 month 12k miles.

    My question for you is this.. How real is the "Bank Fee"? I have heard numerous times that it goes directly to Honda, and is normally $595. However, in order to match a price from another dealership, this dealer lowered the "bank fee" to $537. And, when I signed my lease, this amount showed up as a CAP Cost reduction, not a Bank Fee.

    Overall, I think I got a good deal but am wondering if I got scammed on the bank fee.

    Thank you. Appreciate all the advice you give on these forums as they have been very helpful to me over the years.
  • buckeyedavebuckeyedave Member Posts: 7
    Looking to lease a 2010 Odyssey EX-L. They are selling them around invoice and leasing with 51% residual and .00139 money factor I believe but no incentives are currently available through Honda. Inventory seems to be pretty low...

    Need some expert advice....should I wait until January 5th to see if they will offer some incentives or could the residual, MF, potentially get worse with the calendar year changing over? Nobody has a crystal ball, but what would you do if you were in my shoes?

    If I end up pulling the trigger now and they roll out some rebates or 0% financing I will not be a happy camper!

    Thanks in advance!
  • thunderstrikethunderstrike Member Posts: 2
    I am looking to lease an Odyssey EX, and have been using the MSRP and Invoice figures from this site:
    MSRP $29,095
    Invoice $27,098

    I am being told by the dealer that Edmunds is wrong, and that these are the numbers:

    MSRP $30,650
    Invoice $27,809

    Any guidance at all would be appreciated.

    Thanks
  • robbygrobbyg Member Posts: 61
    You're not factoring in the $710 Destination charge. The correct amts are:

    MSRP 30,650
    Invoice 28,107
  • thunderstrikethunderstrike Member Posts: 2
    Carman,

    What are the new money factor/residual figures for an EX and EX-L for January?

    Is Honda kicking in any additional support?

    Thanks
  • gt0279agt0279a Member Posts: 14
    Looking for mf / res for EX-L RES NAV lease 12k/36mo

    Lease special on Honda's site looks like the mf dropped to .00102 but not sure if my math is correct. Also, are the money factors posted here lower if you are a current honda lessee? I know they waive the security deposit but do the offer any lease 'loyalty'?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello gerry10. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Odyssey EX-L with RES, Navigation, and 15,000 miles per year are .00102 and 49%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey b5150. Honda Finance charges a bank or "acquisition" fee of $595 on every vehicle that it leases. Dealers are not allowed to waive this charge. You can either pay it at lease signing or roll it into your car's capitalized cost to make it part of your monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi thunderstrike. Here's the latest info. Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2010 Odyssey EX with 15,000 miles per year are .00102 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2010 EX-L without Navigation or RES are .00102 and 51%.

    You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    Honda is not currently providing any cash incentives on the 2010 Odyssey.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gt0279a. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Odyssey EX-L with RES, Navigation, and 12,000 miles per year are .00102 and 51%, respectively.

    Honda is not currently providing any sort of loyalty incentives on this model for returning lessees.

    Car_man
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  • number1leasingnumber1leasing Member Posts: 18
    Best advice i can give you guys is the deals ive done and you should shoot for these numbers at your local dealers for the 2010 Honda Odyssey, based on super preferred top tier credit for 36 months and 12k miles per year. These deals are all $0 but plus local tax, tags and inception fees. Programs are national so it doesnt matter where you are located in the 48 states, the only thing that matters is the supply and demand for that vehicle in your area.

    LX $312
    EX $346
    EX-L $397
  • katkatkatkat Member Posts: 10
    And how much would the EX-L with Res and Navi be for a top tear credit?

    Is there a good calculator where I can plug the down payment, MSRP, residual, money facor, tax rate and fees and get the payment? I have been playing with some sites but the numbers were way off.

    Thanks!
  • katkatkatkat Member Posts: 10
    Just got a quote:

    0 down (but tax and first payment due at signing)
    12K miles
    $493 / month

    Tax, tags additional.

    Good? Can it get any better? (I think it is based on $34.5K purchase price).
    Many thanks!
  • jrw118jrw118 Member Posts: 17
    I just got a quote for a 2010 ex lease with $0 down tax, title, 1st payment due at signing. 15k mile per year for $359 mth, $376 for ex w/res Is this ok?
  • jmailjmail Member Posts: 20
    Car_man:

    I see your number above for the EX-L without nav/res. Would the residual change for a 12k 36-month lease instead of 15k? Does Honda allow for a 10k lease? If so what are the number for that?

    Does anyone know what the additional costs are for NY state? Other than 710 destination chareg and 595 bank fee, what else is there?

    Thanks!!!!
  • marltashmarltash Member Posts: 9
    I am interested in leasing the Odyssey EX-L w Nav and RES. I have shopped a bit through email and found my two best offers so far to be...

    475.30 / month
    2048.61 to pay at pickup

    and

    466 / month
    2094.12 to pay at pickup

    Do these sound competitive? Some other dealers were way over these numbers.

    The selection seems limited. Should we accept on one of these or keep pushing. I'd love to get lower or the same price with running boards and/or all weather mats.

    Which do people find sharper looking -- white/ivory or polished metal/gray???

    Thanks.
  • marltashmarltash Member Posts: 9
    I am interested in leasing the Odyssey EX-L w Nav and RES. I have shopped a bit through email and found my two best offers so far to be...

    475.30 / month
    2048.61 to pay at pickup

    and

    466 / month
    2094.12 to pay at pickup

    Do these sound competitive? Some other dealers were way over these numbers.

    The selection seems limited. Should we accept on one of these or keep pushing. I'd love to get lower or the same price with running boards and/or all weather mats.

    Which do people find sharper looking -- white/ivory or polished metal/gray???

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi katkat. Edmunds.com has a lease calculator: Auto Lease Calculator.

    I personally use an Excel spreadsheet to calculate payments. You can make one yourself using the formula that is outlined in the following article: Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jmail. For 36 month terms, Honda Finance's 12,000 mile per year residual values are 2% higher than its 15,000 mile per year residuals.

    I know that Honda Finance offers 10,000 mile per yer leases for Acura vehicles, but I'm not sure about Honda vehicles. If it does offer 10k leases on the Odyssey, the residuals for them would likely be 3% higher than its 15k resids.

    Car_man
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  • benji123benji123 Member Posts: 104
    Hi Car_man,

    Are there new numbers in February for these?

    Odyssey EX, 36 Months, 12K
    Odyssey EX-L, 36 Months, 12K
    Odyssey EX-L w/RES & NAV, 36 Months, 12K

    Any lease incentives with new Sienna, Odyssey models coming out soon? Any thoughts on which of the two minivans (Honda vs. Toyota) has the better deals right now?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi benji123. Honda's February lease program for the Odyssey is exactly the same as its January program was.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Odyssey EX with 12,000 miles per year are .00102 and 46%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2010 Odyssey EX-L are .00102 and 53%. The numbers for a '10 Odyssey EX-L with RES & NAV are .00102 and 51%.

    I don't believe that Honda is currently providing any cash incentives on leases of this model.

    Of the two vans that you mentioned, I personally prefer the Odyssey. Not only is it the better van, but generally speaking its lease program is more attractive than the Sienna's right now as well.

    Car_man
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  • benji123benji123 Member Posts: 104
    Offered the following numbers today on a 2010 EX-L w/ NAV + RES in Los Angeles:

    OTD Price: $35,437
    36 Months, 12K per year, $503.10+$49.05 tax (9.75%) = $552.15/month
    $0 Cap Cost Reduction
    $1097.54 due at signing (includes first payment, fees)

    Good deal? The numbers seem sound (I put them into my lease calculator with an MSRP of $37,915, LMF of 0.00102 and Residual of 51% and I get the same number) but I thought they could go a little lower ...
  • benji123benji123 Member Posts: 104
    Just got this in writing from dealer in SoCal area. 2010 EX-L with RES + NAV. Any opinions? Seems like a pretty good deal, right?

    MSRP $37,915
    INVOICE $34,741
    PRICE $34,376 (incl. acq fee)
    RESIDUAL $19,336
    MF 0.00102
    36 Months, 12,000 miles

    Option #1: $1080 drive off, $472+tax
    Option #2: $500 drive off, $489 + tax
    Option #3: $0 drive off, $504 + tax
  • iminincimininc Member Posts: 14
    May I know which dealer gave you this quote. tHANKS.
  • stillystilly Member Posts: 7
    Just leased a 2010 EX-L
    $34,115 MSRP
    $29,720 (Invoice minus $1250 Dealer Cash)
    .00102 MF
    36 Month 15,000 yr
    Rolled first months payment into deal.
    $596 Aquisition Fee
    $698 Dealer Fee
    Free set of All Weather Mats
    $0 out of pocket
    $455 per month remaining 35 months.

    I turned in a 2007 Honda Pilot Lease (old .0004 deal :) )
    Had $1,000 equity in it and opted for a check from the dealer.

    My only question is should they have included all the Protection Package junk in the MSRP to calculate the deal. The sticker had $2,000 in garbage I immediately tossed out of the deal, however they never added it back into MSRP to figure monthly payment?????">
  • ea7576ea7576 Member Posts: 10
    Car Man-

    Just a few questions as I prepare to deal for my new Odyssey lease (current Ody lease up soon)

    Target sale Price in Chicago area for EX-L (base)
    Feb residual for 36mo/12k
    current money factor top tier

    I believe Honda waives the security deposit for returning lease customers. I still have to pay the acquisition fee right? $595?

    Thanks-
  • ea7576ea7576 Member Posts: 10
    Current 2007 Odyssey EX will have about 28K at lease term (wife stays home with the kids and goes nowhere).

    Dealer says I have equity that can be used to lower new payment. We have not discussed how much equity. My lease end purchase option is $16,800. KBB good trade value is $20K+.

    I am thinking I negotiate the purchase price of the new van and try to keep the trade value of the old Ody separate.

    Anyone else had experience here? Thoughts or advice?

    Thanks
  • bigman32hockeybigman32hockey Member Posts: 2
    I got a faxed Lease Agreement from a dealer in Boston today saying we could lease a 2010 EXL-RES with 15K miles per year and $800 total due at signing (includes first month payment, acquistion and documentation fees) for $452/month (including taxes). Is this a good deal, or should I continue to shop around?
  • bigman32hockeybigman32hockey Member Posts: 2
    Got the deal down to $800 down and $440/month. Do people think this is a good deal or not?
  • capplacappla Member Posts: 29
    Hi Car_man,

    What are the lease numbers in February for these? I am in the Tampa, Florida area.

    Odyssey LX, 36 & 48 Months, 12K
    Odyssey EX, 36 & 48 Months, 15K

    My assumption is we could potentially do better than the 2010 Odyssey LX Featured Special Lease that is advertised on the Honda website. What should we aim for?

    Thanks in advance!
  • pjtncpjtnc Member Posts: 2
    Picked up our new Odyssey EX w/ RES today from Leith Honda in Raleigh, NC. Zero down, 12K miles/year, 3 years for $339/month. Two dealerships (Flow Honda in Winston-Salem and Vann York Honda in High Point) got to $349/month.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stilly. Banks like Honda Finance generally only allow factory-installed options to be residualized. The dealer was correct in not adding the $2,000 in protection package junk to your van's MSRP when calculating your payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ea7576. 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 base 2010 Odyssey EX-L with 12,000 miles per year are .00102 and 53%, respectively.

    You are correct, you will have to pay the acquisition fee even if you are a returning customer.

    If I was in the market for this van right now, I personally would shoot for a selling price of a couple hundred dollars over invoice minus the $1,250 dealer cash.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, cappla. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Odyssey LX with 15,000 miles per year are .00102 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2010 Odyssey EX are exactly the same.

    If you were to lease either of these vans with only 12,000 miles per year, their residual values would be 2% higher.

    You definitely don't want to lease them for 48 months. Honda's special lease program is only available for a maximum of 36 months. If you go with a four year lease, your money factor will more than double.

    Car_man
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  • linhtwulinhtwu Member Posts: 15
    Car man,
    Can I get lease info for EX w/RES, 36 month 15K/yr. Thanks.
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