2013 and earlier-Honda Odyssey Lease Questions

dodgehappy

That sounds like a much better price then I recieved a couple of weeks back for our 2011 EX. Which dealer provided this quote if you dont mind me asking?

2011 EX
Sale price: 27,459
327/mo (includes 7% tax), 36/12K, 1st month + 240 due at signing>

Should I go for it?

imgdoc

I made the deal with Waymouth Honda, MA. They seem to be able to offer the best deal in the region (if not in the country). Very easy going, not pushy at all. They had only two EX on the lot and we liked one of them. We test drove it. The ride is very smooth and quiet. So we decided to pay the deposit to reserve it. We'll also get a remote starter installed for $399, which I think is a very good price. I have a friend who payed $500 for it at another MA dealer. I can't wait to pick it up.

CarMan@Edmunds

Hi kvl1027. The money factor and residual value that you were quoted for this van are right on the money. Honda is not currently providing any cash incentives on leases of this vehicle.

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exline

Thanks John...

I returned to the dealer and got the worksheet. It explains a few of the calculations better than the leases agreement. I appreciate your help and explanation!

exline

Was just quoted the following for a 2011 Odyssey EX-L with RES, 12,000mi/yr lease:

Zero due at lease signing.

$479/month x 35 months (including 6.75% tax)

Running my numbers, this seems like a good deal. Can anybody verify this?

imgdoc

You should try to get as close to this as you can:
MSRP $36,830.00
Sale Price $32,699.29
Residual $23,202.90 (63% of MSRP*)
Financed at*** 36 months 0.00180 money factor
Down $0.00
Monthly Payment $404.00 ($431.27 with 6.75% tax) or $444 for 35 months
Due at Signing $0

dutch75

Hi Folks . . appreciate any feedback on the following lease quote I received today for a 2011 EX-L (the quote was given at the Dealership, not online):

Lease Price: $455/Month
Mileage Allowance: 15,000/Year (3 Yr Lease/45,000 Total)
Due at Signing: $2,500

The breakdown on the $2,500 due at signing is $1,617.70 Cap-Cost Reduction, $455 1st Month's Payment, Initial Registration Fee of $262.50, Document Fee of $149, NJ Tire Fee of $7.50 and On-Line Processing Fee of $8.30.

I am located in New Jersey and require 15,000/Miles per year.

Would greatly appreciate any thoughts and feedback . . . or, if this quote looks too far out of line, suggestions for possibly obtaining additional quotes via email.

Thanks

Dutch
New Jersey

steve337

Hi Dutch,

Please see my lease deal I received on 2011 EX-L. I looked back and found it- post #2263. I assume you are looking at EX-L only (no NAV or RES). If only EX-L- the dealer is not coming down enough. My base payment on EX-L is $358.01 with zero out of pocket. All the details are on my post. I think you can do better. Since you are in NJ- may want to contact the dealer I used since they do ship vehicles. You can probably get a better deal, including shipping cost to NJ.

dutch75

Hi Steve,

Went back and read your post (#2263) . . excellent detail! Can't thank you enough. That is exactly the vehicle we are shopping for (no NAV or RES); perfect.

I will contact your dealer to find out shipping cost to Jersey. I will do a follow-up post with details as soon as I have them.

Many-many thanks!

Dutch

bass_fisher

I have seen quite a few postings on the deal related the 2011 Odyssey EX-L with or without RES. The numbers posted were really good, especially for those working with Weymouth Honda of MA. However, I talked to 2 Honda Dealers in PA, and was told that these were really super deals (namely, MSRP $36,830, Sale Price $32,699, which is below invoice price for them). There is no way they are going to come close to these numbers (at least $2000 difference). The money factor and residual value are set by Honda, so the difference is really the sale price of car.

Anyone has shopped in PA or NJ and got a good deal similar to what was posted in MA?

newpilot1

I did find a deal in NE Ohio that was close to the deal Weymouth is offering. On a 2011 Odyssey EX-L with RES price including destination, roof rails and fog lights installed is $33,600 + TTL. I was quoted $306 for roof rails and $570 for fog lights (installed prices). $33,600-$876=$32,724 (NE Ohio) vs. Weymouth $32,699.

dodgehappy

newpilot1- could you please confirm which Ohio dealer offered this pricing?
Thanks

kohyuta

Here's what we signed today...

Sales Price: $33,431.00
Trade value: $22,050.00 (2008 EX-L w/RES, 20k miles)
Gross Cap Cost: $34940.70
Cap Cost Reduction: $2746.78
Adj Cap Cost: $32193.92
Residual Value: $23202.90

$0 cash down, 36 months/12k miles/year, $355/month.

Sunnyside Honda, Cleveland, OH. They were great! Emailed their Internet Sales Team, told them what we wanted, and they did it. As quick & painless as a lease ever was... highly recommend them if you're in NE Ohio!

bass_fisher

Hi Car_Man,

Can you post the December money factor and residual for the Honda Odyssey EX-L?

Thanks,
Fisher

robroth

So I spoke with Weymouth Honda about a Touring or an EX-L. The problem is they are totally sold out of Odysseys, they have a big wait list, and they'd have to order one from Honda and I'd have to wait until March for it to arrive... that's assuming that the incentives that are available now are available in March (unlikely IMO).

So I walked into the dealership I got my Pilot from with the quote from Weymouth and here's where I ended up. BTW, I can take delivery next week and they have the color and model my wife wants (Touring in Black/Grey).

I'm trading in a leased 2008 Pilot EX-L 4WD w/nav. My payoff is 19.1K, they are offering 22K which is about what Weymouth ballparked what they'd give me. They are applying that $2900 towards all fees, registration, etc and the balance is a cap cost reduction, which I usually don't like to do on a lease, but it's not that much and makes life easier.

Cost: 37,259 (includes doc, registration and title fee)
Lease acquisition fee: 595
Total: 37854

Of my $2900, 595 goes to the lease fee and 400ish to the 1st month's payment and about 2000 as cap cost reduction.

Total Cap Cost: 35,858.67
Residual: 60%
Residual value: $25,751

Payment: 397.81 + 6.25% = 422.67

bass_fisher

Just want to provide an update to others in NJ or PA shopping for an Odyssey. I have used the truecar.com website to get a sense of best price offered by different dealers. The website was very helpful in providing what others paid as well as the prices quote from dealers.

The best price was offered by "HONDA OF FREEHOLD" in NJ, and it is close to the invoice price (8% off MSRP). I had exchanged a few e-mails and phone calls with them, found them very courteous and responsive. It's worth a try if your are not too far from them.

CarMan@Edmunds

Hello Fisher. Honda Finance's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey EX-L with 15,000 miles per year are .00190 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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robroth

I pick up the Touring tomorrow. This was from Honda North in MA and they matched the deal Weymouth Honda offered.

kwarengi

Hello Car_man,

Lease on my current Odyssey ends in February, but I was going to lease another one in December. However I have a few questions.
You posted that December buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey EX-L with 15,000 miles per year are .00190 and 62%. What are money factor and residual value are for 2010 EX-L w/RES? A few of them are still remaining here and there.
Would you recommend to go for 2010 or 2011? 2010 best price is about $29,700.
Following this forum I see that best deals on 2011 are about $32,700 on East coast. The best price I see on truecar.com is $34,792 about 72 mi from my location in Los Angeles. Is it true or real quotes are lower?
Also there is no lease support for either 2010 or 2011 Ody. Does it makes sense to lease now, when model is so new or just wait till February? Would money factor and residual value be worse then in this economy?

Thank you in advance!

prahcharov

I am looking to lease a Honda Odyssey 2011 EX and here is what I have.

$0 due at signing, 1st month free and then 35 months at $416.91. Can I do better? THX!

MSRP $31,730.00

Invoice Price $29,109.00

Selling Price $30,400.00

Residual Value 67% $21,259.00

Monthly Rate for 35 month lease inclusive of tax $416.91
Dealer DOC Fee $399.98
AZ Title/License Fee $519.96
Money Factor .00190

other additional fees? $0

midnightblue

Hi Car_Man,

Can you please post captive lease rates for a 2011 Honda Odyssey Touring, 36 months, 12K miles per year.

Thanks in advance!

kjeeva

CarMan@Edmunds

Hello kwarengi. The money factor for an EX-L with RES would be exactly the same, but its residual value would be 1% lower.

The Odyssey was completely redesigned for the 2011 model year, so unlike some vehicles which there is very little difference between model years and one should just go with whatever is cheaper, there is a huge difference between the '10 and '11 Odyssey. If I was in the market for an Odyssey right now, I personally would go for an '11 model.

I personally wouldn't be in any hurry to lease an Odyssey right now if my current lease wasn't up until February. There's nothing special about Honda's current programs on this model.

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CarMan@Edmunds

Here you go midnightblue. Honda Finance's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey Touring with 12,000 miles per year are .00190 and 62%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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jacknibbs

Hi Car_Man

I am looking to lease a 2011 Odyssey EX-L without NAV/RES within the next week. Looking at 36month 12k/year lease and was wondering what I can expect to get in January. I am in NJ. I qualify for the top tier credit. Also I was wondering if Honda has such a thing as 10k/year lease.

Thanks!

CarMan@Edmunds

Hi jacknibbs. Honda is scheduled to introduce its January incentives on the 5th. It's difficult to say what its new programs will be like until they are officially announced on that date. Please feel free to check back with me later this week and I will gladly provide you with an update on what the new programs are like.

I don't believe that Honda Finance offers 10,000 mile per year leases on Honda division vehicles. You should check with a dealer to make certain that this is the case. If it does, its 10k resids would likely be 1% higher than its 12k resids.

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allnew3

Car_man,

Can you please provide the details for the EX-L, 12,000 miles in NJ? I have a 2008 EX-L that is expected to end its lease on March 1st. I stopped by the dealer today to see the 2011 up close. He mentioned that based on an appraisal they may buy it back as a trade with additional cash to apply to the new lease depending what my residual was when I signed up for that lease in 2008. Is there really a deal potential here for me to trade in early on my lease that is coming due March 1st or should I stick it out for the end of Feb.?

CarMan@Edmunds

Hello allnew3. Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey EX-L with 12,000 miles per year are .00190 and 63%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

I'd be surprised if the dealer was able to get you out of a lease that is scheduled to expire in March at this point for free, but you never know. Just make sure to compare to negotiate as attractive a selling price as possible on the van that you are interested in.

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ayolm

Car_man, does the January money factor and the residual value you provided on the '11 Odyssey EX-L also apply to to the touring, assuming the same parameters (i.e. 36months, 12K/yr miles)?

Thanks for your help. I have found this site very helpful.

robroth

I just bought a Touring in Dec. Residual was 1% lower than the EX-L. MF was the same. I would suspect it's the same here. Touring Elite was 1% lower than the Touring.

dbagdadi

Hi Car_man,

What the rates are for a 12K mi, 36 month lease for the 2011 standard EX-L in South Florida?

Can anyone in this forum that has leased the above-mentioned vehicle provide me with what they are actually paying?

Thanks!

chadl

Carman and everyone:

What is the current money factor and residual for a 2011 EX-L w/RES and a 2011 Touring (not Touring Elite) for a 3 year / 15,000 miles per year lease?

Thanks in advance!!

redman25

Hello Car_Man.

Can you tell me Honda Finance's January buy rate lease money factor and residual value for a 36 month lease for the following:
- 2011 Odyssey EX with 12,000 miles per year
- 2011 Odyssey EX with 15,000 miles per year
- 2011 Odyssey EX-L with 15,000 miles per year

Thank you in advance for all of your help

kwarengi

Hello Car_man,

I see that terms are the same till the end of February as of December 2011.
I'm going to lease a new van in February and will go for 2011 EX with 15K mi - what is residual value there, 62 or 63%? Or I don't mind to lease 2010 EX-L with RES, a few of them are still around, but mostly Touring left, I see.
Does it make financial sense to lease 2010 EX-L with RES? What is money factor and residual for it now for 15K mi?

Thank you in advance!

CarMan@Edmunds

Hello ayolm. The money factors are the same for all Odyssey trim levels, but the residual values for the Touring are 3% lower than they are for the EX-L.

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CarMan@Edmunds

Dbagdadi, Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey EX-L with 12,000 miles per year are .00190 and 63%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Car_man
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CarMan@Edmunds

Hey chadl. Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey EX-L with RES and 15,000 miles per year are 00190 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The numbers for an otherwise identical lease of a 2011 Odyssey Touring with RES are .00190 and 60% as well.

Car_man
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CarMan@Edmunds

Here you go, redman25.

Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey EX with 15,000 miles per year are .00190 and 64%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The numbers for an otherwise identical lease of an Odyssey EX-L are .00190 and 61%.

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

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CarMan@Edmunds

Hi kwarengi. The 36 month / 15k residual value for an '11 EX is 64%. I believe that my previous several posts contain all of the information that you need.

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kwarengi

Car_man,

Thank you for reply. But do you have answer for 2010 EXL-RES question?

Does it make financial sense to lease 2010 EX-L with RES? What is money factor and residual for it now for 15K mi?

Thank you.

ristaze

Signed a new lease today. 2011 EXL w/res
36 months 12,000 $458. no money out of pocket.

Dealer paid first months payment.

I'm happy with it...could I have done better?

fsudreyer

Where did you get that price from? I just got quoted $448/month but with 2K out of pocket. Your lease puts the van at or around cost. Thanks

dbagdadi

Wow! Ristaze can you please tell us what dealer (city and state) you got that deal at? Does that price include tax? If so, what's the total monthly amount?

My friend just leased an EX-L (without RES) for $458/month (including 7% tax) for 36 month, 12k miles, $800 total out of pocket including first month tag and dealer fees from Hollywood Honda (Hollywood, FL) last week.

Thanks.

kyfdx

You may include the dealership name, city and state in your post. Please do not post names of salespeople, telephone numbers, email addresses, or other contact information.

ristaze

Sorry About that...I didn't know.

kyfdx

No problem... you can re-post... just without the salesperson's name or phone number...

Thanks!

CarMan@Edmunds

Hi kwarengi. Honda Finance's January buy rate lease money factor and residual value for a 36 month lease of a 2010 Odyssey EX-L with RES and 15,000 miles per year are .00200 and 49%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The residual values on the 2011 Odyssey are much higher right now. You may find that you are better off leasing an '11 model than a '10 at this point.

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wilson417

I see a lot of posts referring to RES. Can someone tell me what that is? I thought it was the residual value, but people have posted EX-L w/res. Residual value isn't an option, so what is it?

CarMan@Edmunds

Hi wilson417. RES stands for

Rear

Entertainment

System

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swaggerwagon

I live in Nevada. Very few 2011 Honda Odyssey's even available. Trying to get a 2011 EX-L w/RES on a 36-month lease, 15K miles a year with nothing down. Best offer from dealer is $553 a month...on a selling price of $34,921. What gives? How are people getting this deal for a $100 less a month?