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2018 Honda Odyssey Lease Deals and Prices

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Comments

  • kyfdxkyfdx Everywhere, USAPosts: 122,742
    jlinatl said:

    Does Honda require a $1999 cap cost reduction on all leases? I had all other terms agreed to and when they turned it into a lease payment, it was way higher than what I got on leasehackr and that's when he showed me the fee and said it was because I wasn't putting any down. Even if I add trade-in, they hit me for an extra 1999 and deducted that from the value of trade.

    thanks in advance!

    No, a CAP reduction is not required. It's not a fee, though.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Everywhere, USAPosts: 122,742

    you wrote:
    "I get $528/mo.+tax, if the agreed price is the adjusted CAP cost. That's a little short of your quote, but I'll guess the $595 acquisition fee is the difference."

    Hello, again ... I delayed the decision because I am truly confused about all the terms, so have uploaded PDF of the dealer's worksheet if you have time to review it. Thanks so much.

    .00210 MF and 58% residual gives me the exact numbers that the dealer has.
    According to the sheet, equity in your trade is covering all of the upfront money?
    The $795 added to the agreed on value? What is that charge for?

    I don't see any red flags, but the vehicle doesn't have a very good lease program, and is expensive to lease.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Yes, I am putting no cash out (equity is 2015 Odyssey @ end of our 36 mo lease, following a 36 mo lease on a 2012)

    Here's the dealer's answer about that $795
    " ... the acquisition fee of $595 charged by Honda Finance and $200 license fee."

    I was told that the 2015 has a recall (on the 2nd row seats?) but Honda has not provided the parts, meaning dealership has to "park" it. Not sure if that contributed to the way this pencilled out.

    Thank you very much for your help, Moderator (whose name I don't know)
  • Thanks. I'm new to leasing and they were just scribbling numbers so I'm trying to make sure I understand it all.

    2018 Odyssey Elite
    MSRP: 47465
    Price: 42000 plus fees and taxes
    MF: .00210 (they said that was Honda rate, not .00200)
    Residual: 58% (again, said no markup or change from Honda set residual)
    39 / 12k
    Trade: 3500

    I'm in GA so I excluded tax from the equation for now as the law changes Jan 1.

    I get payment of $430.

    They said Honda adds 1999 to all leases across the board and knocked my trade down to 1500 so payment was much higher.

    Does it seem reasonable I could get them to the $430 before taxes?

    thank you!
  • kyfdxkyfdx Everywhere, USAPosts: 122,742

    Yes, I am putting no cash out (equity is 2015 Odyssey @ end of our 36 mo lease, following a 36 mo lease on a 2012)

    Here's the dealer's answer about that $795
    " ... the acquisition fee of $595 charged by Honda Finance and $200 license fee."

    I was told that the 2015 has a recall (on the 2nd row seats?) but Honda has not provided the parts, meaning dealership has to "park" it. Not sure if that contributed to the way this pencilled out.

    Thank you very much for your help, Moderator (whose name I don't know)

    Well, the numbers all add up. At that price, my loyalty to Honda would start to wane. (and, I've had six of them).

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Everywhere, USAPosts: 122,742
    jlinatl said:

    Thanks. I'm new to leasing and they were just scribbling numbers so I'm trying to make sure I understand it all.

    2018 Odyssey Elite
    MSRP: 47465
    Price: 42000 plus fees and taxes
    MF: .00210 (they said that was Honda rate, not .00200)
    Residual: 58% (again, said no markup or change from Honda set residual)
    39 / 12k
    Trade: 3500

    I'm in GA so I excluded tax from the equation for now as the law changes Jan 1.

    I get payment of $430.

    They said Honda adds 1999 to all leases across the board and knocked my trade down to 1500 so payment was much higher.

    Does it seem reasonable I could get them to the $430 before taxes?

    thank you!

    Honda doesn't add $1999 to all leases. They do have a $595 acquisition fee, and GA is famous for very high dealer/doc fees.

    What you should take away from this: They aren't really giving you $5465 off MSRP. That's just playing with numbers, if they are going to add an extra $1400 in bogus fees and lowball your trade.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thanks. And can you please confirm mf and residual for Elite at 36/12 and 39/12?
  • Moderator wrote: Well, the numbers all add up. At that price, my loyalty to Honda would start to wane. (and, I've had six of them).

    Point taken. Kind of a security blanket for me at this stage of life but I'll have 3 years to poke around other brands, esp. since a big ol' van is tots unnecessary at this stage of life.

    Thank you again for your help, Moderator. BTW, I used Leasehackr for the first time, thanks to someone's post the last few days. I sent the link Calculator showing the payment @ ~$540 to the dealer and asked for explanation of their $593/mo. Sharing this to help anyone else trying to make sense of all these terms.

    We're now working on a deal for $37,500 selling price. Wish me luck.
  • kyfdxkyfdx Everywhere, USAPosts: 122,742
    jlinatl said:

    Thanks. And can you please confirm mf and residual for Elite at 36/12 and 39/12?

    58%/56% residual for 36/39 months.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Everywhere, USAPosts: 122,742

    Moderator wrote: Well, the numbers all add up. At that price, my loyalty to Honda would start to wane. (and, I've had six of them).

    Point taken. Kind of a security blanket for me at this stage of life but I'll have 3 years to poke around other brands, esp. since a big ol' van is tots unnecessary at this stage of life.

    Thank you again for your help, Moderator. BTW, I used Leasehackr for the first time, thanks to someone's post the last few days. I sent the link Calculator showing the payment @ ~$540 to the dealer and asked for explanation of their $593/mo. Sharing this to help anyone else trying to make sense of all these terms.

    We're now working on a deal for $37,500 selling price. Wish me luck.

    $700 lower on price will knock $20/mo. off the payment

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • doovdoov Posts: 6
    kyfdx said:

    doov said:

    doov said:

    kyfdx said:

    doov said:

    Looking for numbers and feedback on 2018 Honda Odyssey EX-L with RES/NAV for 39 month/15K miles (SE Michigan/48103)
    We are getting quoted:
    The residual Value is 56% ($22,568)
    The cap cost is $36,557.78
    The Money Factor is .00162

    $515 per month, it is a 39mos lease with 15k miles per year and a total of $786.04 due at signing.

    Please let me know if those numbers sounds appropriate and if asking for 36 month would make any meaningful difference?

    56% residual is correct.
    We show a money factor of .00200, but there may be an updated incentive program that we don't know about.

    Using your numbers, I get $455/mo.+tax
    If I use .00200 for the money factor (which is more likely), then $477/mo.+tax, which is closer to your payment.
    But still $10/mo. less, assuming 6% tax.

    36 month residual is 2% higher. All else being equal, going to 36 months will add about $10/mo. to the payment. That might be worth it to you, or not, to reduce the lease by 3 months.

    ----------------------------------------


    Thank you, that is very helpful. I will push a bit to see where the difference is or if they are using different calculations like the 0.0200 money factor, etc and how their total due at signing is broken down and if it includes first months payment or not.

    They are sticking by a money factor of 0.00162 and couldn't explain the difference except to say maybe they didn't tell me about the bank acquisition fee of $795 which is added in, which would work out to the additional $20/month

    We actually asked about a one pay lease also to save on interest and their quoted total payment was $17, 648.24 for a 36 month/15K lease, which works out to $490.22/month. Can I ask for your opinion about that total? (and Thank you!).
    With an acquisition fee of $795 and a money factor of .00162, I'd guess that it's not a Honda Finance lease. Probably US Bank, but it could be another independent. Honda Finance acquisition fee is $595.

    Not sure I'd do a single pay lease to save $25/mo, but if you have the cash, that's certainly an option.
    Thank you again for your expertise. Yes, it was a local credit union they work with. When I add in the $786 due at signing to the traditional lease rate of $515 per month that averages out to ~$535/month, and so the one pay saves about $45 per month. That's not insignificant...worth it to me to save a bit.
  • One more question... any idea when the year ends for Honda? Most incentives seem to go through Jan 2. And one dealer told me cars sold on Jan 2 count towards 2017 numbers while another said they have to be sold by Dec 31 to count. Thanks!
  • MichaellMichaell ColoradoPosts: 113,800
    jlinatl said:

    One more question... any idea when the year ends for Honda? Most incentives seem to go through Jan 2. And one dealer told me cars sold on Jan 2 count towards 2017 numbers while another said they have to be sold by Dec 31 to count. Thanks!

    The programs for Honda expire on 1/2/18

    So far as sales figures are concerned, it could be 12/31/17, or 1/2/18. Don't have that information

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • stecinostecino Posts: 10
    Hello,

    Could I have MF and Residual for XLE model in Los Angeles area please?
    Also, does Honda allow for different mileage limits? If so, with 10K miles, if not 12K

    Thanks,
  • kyfdxkyfdx Everywhere, USAPosts: 122,742
    stecino said:

    Hello,

    Could I have MF and Residual for XLE model in Los Angeles area please?
    Also, does Honda allow for different mileage limits? If so, with 10K miles, if not 12K

    Thanks,

    EX-L? No XLE model from Honda.

    .00200 MF and 60% residual for 36/12
    Honda does not offer 10K/yr

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • dsoroudidsoroudi Posts: 20
    edited January 2018
    Do we know yet what the MF and Residuals are in January?

    Looking at 36/39 month options, 12k/miles/year, Touring and Elite models, 2018 year of course

    I'm in Los Angeles, so I can play off a bunch a dealers... is that my best bet to negotiate down the cost?
  • deegedeege 12302Posts: 7
    Can you provide the Residual, MF and any lease cash/promotions on a 2018 Odyssey EX in upstate NY?

    36/12k
    36/15k

    Thanks
  • MichaellMichaell ColoradoPosts: 113,800
    dsoroudi said:

    Do we know yet what the MF and Residuals are in January?

    Looking at 36/39 month options, 12k/miles/year, Touring and Elite models, 2018 year of course

    I'm in Los Angeles, so I can play off a bunch a dealers... is that my best bet to negotiate down the cost?

    .00200 and 58% for 36/12 on Touring
    Subtract 1% for Elite
    Subtract 2% for 39/12

    Yes, involve as many dealers as you are willing to travel to

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • MichaellMichaell ColoradoPosts: 113,800
    deege said:

    Can you provide the Residual, MF and any lease cash/promotions on a 2018 Odyssey EX in upstate NY?

    36/12k
    36/15k

    Thanks

    .00200 and 58% / 56%

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • stecinostecino Posts: 10
    XLE w/Navigator and Rear Entertainment 40335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 515$ monthly payment includes taxes and fees

    XLE w/o Navigator and Rear Entertainment 38335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 532$ monthly payment includes taxes and fees

    For Los Angeles. Is this a good deal?
  • kyfdxkyfdx Everywhere, USAPosts: 122,742
    stecino said:

    XLE w/Navigator and Rear Entertainment 40335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 515$ monthly payment includes taxes and fees

    XLE w/o Navigator and Rear Entertainment 38335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 532$ monthly payment includes taxes and fees

    For Los Angeles. Is this a good deal?

    The XLE is a Toyota trim.

    Did you mean EX-L with NAV and RES?

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • MichaellMichaell ColoradoPosts: 113,800
    stecino said:

    XLE w/Navigator and Rear Entertainment 40335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 515$ monthly payment includes taxes and fees

    XLE w/o Navigator and Rear Entertainment 38335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 532$ monthly payment includes taxes and fees

    For Los Angeles. Is this a good deal?

    There is no XLE trim for the Odyssey; is this perhaps for the Toyota Sienna?

    The 2018 Sienna lease thread can be found here:

    https://forums.edmunds.com/discussion/46681/toyota/sienna/2018-toyota-sienna-lease-deals-and-prices#latest

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • stecinostecino Posts: 10
    kyfdx said:

    stecino said:

    XLE w/Navigator and Rear Entertainment 40335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 515$ monthly payment includes taxes and fees

    XLE w/o Navigator and Rear Entertainment 38335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 532$ monthly payment includes taxes and fees

    For Los Angeles. Is this a good deal?

    The XLE is a Toyota trim.

    Did you mean EX-L with NAV and RES?
    Sorry, yes I meant EX-L :) and yes NAV and RES
  • MichaellMichaell ColoradoPosts: 113,800
    stecino said:

    kyfdx said:

    stecino said:

    XLE w/Navigator and Rear Entertainment 40335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 515$ monthly payment includes taxes and fees

    XLE w/o Navigator and Rear Entertainment 38335$ price tag, 0 down with nothing else to pay, 39month/12k mile lease, 532$ monthly payment includes taxes and fees

    For Los Angeles. Is this a good deal?

    The XLE is a Toyota trim.

    Did you mean EX-L with NAV and RES?
    Sorry, yes I meant EX-L :) and yes NAV and RES
    .00200 and 57% for 39/12

    Need to know the selling price / adjusted cap cost in order to tell you if the deals are good or not.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • May I have residual and MF on a 2018 Odyssey Elite in South Florida?
  • MichaellMichaell ColoradoPosts: 113,800
    jarredk said:

    May I have residual and MF on a 2018 Odyssey Elite in South Florida?

    .00200 and 55% for 36/15

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thank you
  • Could I get the current MF and Res for an EX-L in central Virginia?

    Are there any dealer incentives, loyalty discounts, etc? I didn't see any mentioned on websites or in the forum.

    Thanks
  • kyfdxkyfdx Everywhere, USAPosts: 122,742

    Could I get the current MF and Res for an EX-L in central Virginia?

    Are there any dealer incentives, loyalty discounts, etc? I didn't see any mentioned on websites or in the forum.

    Thanks

    .00200 MF and 58% residual for 36/15.

    We don't see any incentives for the Odyssey.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdx said:

    Could I get the current MF and Res for an EX-L in central Virginia?

    Are there any dealer incentives, loyalty discounts, etc? I didn't see any mentioned on websites or in the forum.

    Thanks

    .00200 MF and 58% residual for 36/15.

    We don't see any incentives for the Odyssey.
    Sorry, I guess I should have mentioned 36/12. Dos the residual go to 60% in that case?

    Thanks a lot.
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