2013 and earlier-Honda Odyssey Lease Questions

dwynne

We sold my wife's 08 Pilot to Carmax for about $2k over lease buy out. The kicker was we still had 8 months are so for the lease to run. I have only turned in a couple of lease cars out of all the ones I have leased - I usually have been able to trade or sell them instead. Some times I "make" a couple hundred bucks, some times I make more. Exceptions were due to terrible resale value VS residual - not my fault :-)

brickyarddog

dwynne,

When you went through this process - Did Carmax purchase it directly from AHFC, or do you literally have to buy it from AHFC and sell it to Carmax? Seems there ought to be a way to avoid paying sales tax to the state when I really won't own it for any length of time...

dwynne

Correct, in every case a licensed dealer (Carmax or other) purchased the car from the lease bank for the current buy out price. in my state I could not get title to the car without paying sales tax, so no way to make any money buying and reselling where tax is due.

brickyarddog

Car_man,

My apologies if this has already been stated and I missed it, but could I get the April residual percentages for an Odyssey Touring - both for 12K and 15K miles?

Thanks!

pashi

Picking mine up Monday in Spartanburg, SC. Alabaster Silver touring, 3 headsets, wheel locks, splash guards, $3,000 total down (sales tax in SC is capped at $300), lease is $465/month for 35 months, 12,000 miles. MSRP, $41,535, sales price is $38,059. MF of .00187 and residual of $24,090 (56%). Tried 9 dealers in NC and SC and nobody else could touch it.

CarMan@Edmunds

Here you go brickyarddog. Honda Finance's April buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey Touring with 15,000 miles per year are .00187 and 56%, respectively for consumers who qualify for its top credit tier.

The residual value for a lease with only 12,000 miles per year is 2% higher.

Car_man
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jeff47

I have been quoted a money factor of 0.0017 for EXL with RES.
I have an offer for 0 due at signing and 517 per month, 36 mo, 12K/year.
I think I will take it. Anything better out there?

jtbaer

Car_man -

Can you tell me the new numbers (residual and MF) for May for a 2011 Honda Odyssey EX-L with 12k miles for 36 months? Also I have leased with Honda for 6 years now is there some super preferred MF rate?

Thanks

brickyarddog

I will defer to car_man and ask for his confirmation, but we're getting ready to pull the trigger on a deal, and I wanted to share these new numbers for May provided by my salesman.

On a 2011 Ody EX-L RES - Residuals are 57% and 59% for 15K and 12K miles, respectively. The money factor has dropped to 0.00151

CarMan@Edmunds

Here's the information that you're looking for jtbaer.

Honda Finance's current 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 .00161 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

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carnut12

Car_man,

Please post the 2011 Honda Odyssey Tour Elite numbers?

Thanks

azulu

Car Man:

Need the 2011 Odyssey LX/EX MF an dresiduals for a 12K and 15 K lease. 36 months.

Thanks,

Az

squirreljam

Car_Man - any knowledge of dealer incentives on the Ody for May? Thanks either way!

-Squirrel

jmill3r9

Car_Man - can you please supply rates for May on the Touring at 12K miles? I'm getting a MF quote of .00161 and 55% residual. I'm surprised that the residual is this low.

Thanks in advance.

KMS_Cleveland

Was just quoted for a Touring Elite in Cleveland, Ohio for a 36 month lease (15k/year), 35 payments of $589, and $2500 due at signing. I am trying to get the details of the quote but curious what others have seen for a touring elite.

psward

I have never leased before, but considering it this time around.

Is the current (May) lease money factor and residual values a good deal.

Do you predict this will improve for '11 models in the fall?

Can money factor and residual value differ among dealerships?

I was quoted $457/mo for EX-L lease. Is this a decent quote to work with??

Sorry, so many questions.

realhawker

the money factor is slightly less the last month - and that quote is decent for a EX-L. assuming first mo. only out the door.

carnut12

Hello,

Does anyone know touring elite residual and mf numbers for 12k 36 months?

Thanks

nydr1ver

I am looking to lease a 2011 EX-L (no RES), 36 mo and 12k miles, and this forum has been really helpful. I see that the May money factor is .00161 and residual is 60%. So from there I put together my proposal of 32,200 for the car + 780 dest charge, for a cap cost of 32,980. I calculated this to have a monthly payment of $451, excluding sales tax. I presented this to the dealer who eventually agreed to these terms but then said he has the following out of pocket expenses:

Bank fee $585
DMV fees $300
Misc other $100 (documentation, tire surcharge, etc)
Sales tax $1,442 (assuming 8.875%)
1st mo payment $451
Total down $2,778

The dealer accepted this ($2,778 down, including the first months payment, plus 35 more monthly payments of $451). Is that a good deal or did he load in a bunch of phoney costs in the various fees?

Thanks!

CarMan@Edmunds

Hi carnut12. Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey Touring Elite with 15,000 miles per year are .00161 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Car_man
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CarMan@Edmunds

Hey Az. Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey LX with 15,000 miles per year are .00161 and 61%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical lease of a 2011 Odyssey EX are exactly the same.

If you were to lease with only 12,000 miles per year, your residual values would be 2% higher.

Car_man
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CarMan@Edmunds

Unfortunately, squirreljam, Honda is not providing any cash incentives on leases of the 2011 Odyssey in May.

Car_man
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CarMan@Edmunds

Hi jmill3r9. The numbers that you were provided with are right on the money. Honda Finance's residual values for leases with 12,000 miles per year are 2% higher.

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CarMan@Edmunds

Hi psward. Honda's current lease program for the Odyssey is not really a great deal.

This is a national program that does not vary by dealer.

It's difficult to say what Honda lease program for this van will belike later this year, but if I had to make an educated guess I'd say that it is very likely that it will be better than it is today.

Car_man
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CarMan@Edmunds

Hi carnut12. I just replied to your previous message. Please scroll up for my answer to your question.

Car_man
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psward

Thanks for your response. Ended up purchasing a 2012 Civic EXL Sedan. What a jump, but with gas prices it seemed to be a better decision:)

carnut12

thank you very much.

jtbaer

Car_man -

I am confused. you posted earlier the following:

"Honda Finance's current 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 .00161 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Car_man
Host "

but this latest post implies that the residual on the 2011 EX-L with 12k miles would be 63%? Maybe I am misreading something.

Thanks for clarifying.

jtbaer

Oh maybe its the difference between the residual on the EX and EX-L? Sorry if I am confusing people. Thanks

pete1977

After several quotes and negotiating on the phone back and forth I found the folllowing deal on an EX zero down 36 month 12k mile lease.

$351 per month plus 6% Michigan sales tax.
$239 total due at signing.
Total monthly payment including tax: $372

This was based off a sales price of just over 29,100 destination included and money factor of .00161. Residual is 63%.
Another dealer offered .00151 money factor but sales price was about $500 higher so monthly payment would be $10 higher. I was told the lower money factor was for zero down leases only.

Is the above lease a good deal? Or does anyone think I could get the .00151 money factor with a 29,100 purchase price and knock down the payment even more?

dodgehappy

Not sure how that deal is for todays standards, but when we leased our 2011 EX about two weeks after they hit the market we had 0 down and a payment of about $420 a month with 6.75% tax. That included adding the roof bars, side molding and mud flaps in the price.

nydr1ver

Hi - I'm tying to finalize my lease this week and posted #2466 with some Qs about whether the fees quoted by dealer on an EX-L were reasonable ..... if anyone can help that would be great!

gene00

Bank fee = Honda Finance lease acquisition fee. They won't waive it.

DMV Fees - you can maybe save some of this by registering the car yourself, but you may need to contact the dmv to see what the full cost to register the car is. Don't know if they're marking this up or not, $300 sounds pretty cheap to me sitting here in CA.

Doc fee is an add-on. I've only heard of people getting the price reduced by the same amount to avoid this one, although it's as valid as charging you for breathing their air.

Tire surcharge is charged to all tire sellers, so if your Odyssey has tires, it's legit.

drmattp

36 month lease, 12k per year lease from a local dealer in Philly. Zero down money factor is .00151 and residual 59%. MSRP $36830. Negotiated price $34160. No money out of pocket at signing. I included the tax/tags $536 into the capitalized cost. $513.32/month for 35 months. Honda pays the first month. Absolutely no other fees.

Few things, you can't find this car anywhere, so its tough to really negotiate a low sales price, they just don't need to since they are in such demand. This dealer found me the car at one of the sister dealerships in the color we had as our first, Alabaster silver with Truffle (really just dark gray) interior. Also, there is no special program for the car, so no publicized dealer or customer incentives.

FYI: I talked to a dealer in SJ that had a touring. They gave me a low sales price on the internet then tried to jack up the monthly payment by inflating the money factor (apparently with some banks its legal) and with extra dealer fees. Unreal. Its a shame I know how to add and subtract or they might have gotten away with it....LOL. By the way, the saleswoman nor the sales mgr could tell me what the capitalized cost was (neither had access to the paperwork. Come on, how pathetic. How do you quote a monthly payment and not know what you are selling me the car for. Losers!

By the way, the Odyssey is awesome. Its my wife's car but I wouldn't mind driving and I have an Acura.

dbagdadi

Hi Car_man,

What are the June rates for an EX-L no RES with 12k miles please?

carnut12

Can you post the touring elite lease numbers? 12k 36 months

thanks

CarMan@Edmunds

You're very welcome, psward. You're not alone. A lot of people are going with fuel efficient vehicles right now. Enjoy your new Civic!

Car_man
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CarMan@Edmunds

You're very welcome carnut12.

Car_man
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CarMan@Edmunds

Hi Jtbaer. The difference between the two vehicles is the one that you quoted me about from earlier has leather and the one that I was talking about in post #2468 does not. The addition of leather to an Odyssey EX drops its residual values by 3%.

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CarMan@Edmunds

Here's the information that you're looking for dbagdadi. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 EX-L without RES with 12,000 miles per year are .00161 and 60%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

Car_man
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CarMan@Edmunds

Yes I can, carnut12. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Odyssey Touring Elite with 12,000 miles per year are .00161 and 57%, respectively for consumers who qualify for its top credit tier.

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wendini

Thanks for sharing. Now I feel better about the deal I got today. Just leased the same exact car (color and all) in Fairfield County, CT and am paying $1,100 down (includes first month's payment) and $525/month for 35 months.

vtm

Does anyone happen to know the June EXL-RES and Touring numbers? (36mos/12K miles)

Thanks!

realhawker

pretty sure they are .000161 and 59% - I am looking for the same vehicle.

This is a pretty bad time to lease a Odyssey - the lease rate isnt that great, and dealers are leaning hard on the Tsunami/inventory issues to jack up sale price. (well at least from 10 dealers i contacted in NY/NJ area)

I am gonna hold out until July -

coupedncal

>> pretty sure they are .000161 and 59% - I am looking for the same vehicle.

Are you sure this MF is correct? This rate equates to 0.38% and seems very attractive.

buynewbimmer

I'm sure realhawker means .00161, not .000161 for the MF.

ahashmi

Yea, its .00161, I wish it was .000161

stever

I don't know squat about leasing but just heard elsewhere on the site that the MF is .00151 if you go for the $0 due at signing deal. Whatever that is. :-)

Steve, visiting host

realhawker

Can someone please provide the MF/residual on a EX-L /RES for July?

thanks!
Ian

docmri

Hi Car Man,
You have helpedme get great leases many times in past and I was hoping you could do it again....
Looking for Odyssey EX with 36/12k miles RV's MF's etc

Have a great 4th!

Dan