1st-Time Leasing a MiniVan

MyPhamilyValues

I'm in the market for a new minivan. Have always purchased (1st was Odyssey, 2nd was Sienna). To lower monthly and be able to upgrade every 3 years, will consider leasing but have zero experience to make a good decision.

Points of consideration:
1) Given lease, long-term reliability is not a factor so not stuck on Honda or Toyota.
2) Other makers are ok, but heard that residual value of others such as Chrysler or Kia may be too low, resulting in higher depreciation = higher monthly payments.
3) Not familiar with current factors such as money factor, residual value, and lease incentives for any of the manufacturers sod need a little advice here
4) Have not considered buying a 1-2 year old model, but would love to hear arguments for doing so.

Any help will be much appreciated
Thanks
JP

Michaell

MyPhamilyValues said:

I'm in the market for a new minivan. Have always purchased (1st was Odyssey, 2nd was Sienna). To lower monthly and be able to upgrade every 3 years, will consider leasing but have zero experience to make a good decision.

Points of consideration:
1) Given lease, long-term reliability is not a factor so not stuck on Honda or Toyota.
2) Other makers are ok, but heard that residual value of others such as Chrysler or Kia may be too low, resulting in higher depreciation = higher monthly payments.
3) Not familiar with current factors such as money factor, residual value, and lease incentives for any of the manufacturers sod need a little advice here
4) Have not considered buying a 1-2 year old model, but would love to hear arguments for doing so.

Any help will be much appreciated
Thanks
JP

1. Agreed, but there just aren't a lot of choices available
2. See #1
3. I see you've requested numbers for the Odyssey, which I've given you. Find and post in the other makes and models lease threads
4. If you can find a good deal, nothing wrong with a "pre loved" car. But, transaction prices on used cars are getting pretty expensive, so going new (with new car rates and a new car warranty) may be the right approach.

MyPhamilyValues

Good stuff, Michaell. Thank you