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2013 and earlier-Honda Odyssey Lease Questions
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2008 Odyssey Special AHFC A.P.R. Financing
0.9% APR for 24 - 36 months or 2.9% APR for 37 - 60 months
For well-qualified buyers.
Special AHFC A.P.R. financing available on all new 2008 Odyssey models. 0.9% APR financing for 24-36 months or 2.9% APR financing for 37-60 months available to customers who qualify for the AHFC Super Preferred credit tier. Example for 2008 Odyssey: 0.9% for 36 months financing at $28.16 a month for every $1,000.00 financed. Dealers set actual vehicle sales prices. See participating dealers for details. For well qualified buyers. Not all buyers may qualify. Higher rates apply for buyers with lower credit ratings.
I'm looking for a 36m lease, 12000 miles, with $2000 down approx.
Thanks!
Once I get the Toyota numbers, than I will compare against a few other regional dealers, and see where I come out ahead. I heard on the radio that Toyota's sales are down 10% this year, Honda down 4%, worse (of course) for the Big 3. Should be a very good time to buy or lease. You're right, we (consumer) should be in the driver's seat.
I'll inquire about a low mileage lease. I also have a separate set of rims and snow tires for the Sienna that would be nice to use on the new van. Not sure whether they would fit on an Odyssey or not. Not the deciding factor though. I read quite a few complaints about MPG on the Odyssey on this site, in the owners comments. Consumer Reports listed the Sienna and Odyssey as the same, with a real world combined of 19 mpg. We've found our Sienna has been 19.1 so they're right on track. I really wish the mpg was a bit better.
The Sienna is a bit more powerful than the Odyssey now, not that it matters at all. The reliabilty of the Sienaa is better, just read CR today. Ody gets an average rating, surprising kind of. Sienna gets the #1 pick now. I've heard the Ody is a bit more sporting, but it is still a minivan, and I don't drive it 90% of the time anyway. I want safety, reliabilty, decent mileage, good storage for kids and crap. These 2 vans mostly deliver on that front. I should probably look at the new Grand Caravan SXT, but I haven't and probably won't. I think Chrysler is in real trouble. I almost wonder if they'll be around 5 years from now.
I looked at a couple of the crossovers, the GM triplets (Outlook, Acadia, ) look appealing, even CR likes them. But I have no local dealer, which is strange (small college town). Only Chevy is here, and they don't offer one of these CUVs yet.
Actually finding and leasing an affordable and fun family vehicle has been really challenging. I don't really love any of my choices. Minivans, are well, vans. I need 3 rows of seats to keep the harmony, so that rules out a lot. I don't need a big SUV, nothing truck like at least. So only the GM crossovers are appealing, and they aren't really inexpensive, at least for my wallet. Ford has nothing. Nissan still has the 1 piece bench seat in their van, pass. VW has nothing for me, and their reliabilty stinks. I did love my old little Jetta GLX. That was a fast, fun little car.
What's left? (no dealers within 50 miles for Mazda, Saturn, Mitsu, can't afford anything high end)...
12K miles/year
$14000.00 one pay lease upfornt
Averages out to $388.88 / month
$14K broke down like this:
Traded - 04 Accord LX (34K miles with no balance owed) Dealer Gave me $10,500
Wrote check for $3500.00
See em in 3 years!
What happens if my vehicle is stolen or "totaled" in an accident?
In these cases, your lease may be terminated early. Please contact Customer Service as soon as possible to notify us and discuss the next steps. But rest assured - our leases include gap coverage (Total Loss Protection) to protect you against unnecessary expense.
Gap assurance (Total Loss Protection)
Although you may intend to keep a vehicle for the full term of a lease, an accident or theft could cause early termination. Most auto insurance policies pay the average market value of the car, which may be considerably less than the remaining lease obligation. Leases from Honda Financial Services include "gap" protection to cover this difference in the event of such a loss. This is a very desirable feature to look for in your lease.
However, when a vehicle is totaled or stolen the leasor is not obligated to make any more payments and the contract ends on the occurance date, therefore, in a prepaid scenario (at least where honda or accura is concerned) the pro-rated amount is returned to you.
For example if the vehicle was lost after month 6, they would refund 30 payments (assuming a 36 month lease).
The only downside I know of (besides using up your possible capital) is that nothing would be refunded to you if you droped off the vehicle early and walked away. (early termination).
In regards to keeping the capital and trying to invest it, I think I saved a good $1500.00 or more in the deal, (The paperwork actually showed the dealer paying $2400.00 on one of the lines) I wanted to be rid of auto payments, and don't really know of a risk free investment that would return the $1500.00. It's not like one can invest the capital long-term because it would need to be drawn from it each month to make payments. Heck, by month 6 $2550.00 or so (assuming $425.00 / month with $0 down) would have been spent on lease payments anyway, constantly detracting from the capital.
Going prepaid also skipped virtually all the negotiation process in that I basically stated "I think it's fair that I pay you 14K up front to drive the vehicle for 3 years". "I don't care how you write up as long as I only have to give you 14K and the residual is correct." I actually felt like I shorted myself because that's exactly what I said and they took it (maybe my accord was worth more?). Chrysler wanted $13,900 for the scenarion for the T & C signature series but I went with the more reliable Odessey EXL RES + NAV.
Anyway, it seems the best I've been able to get is $475/month with $0 down for an EX-L with RES and NAV. Does this sound right? It seems everyone else can get down into the threes with their payments. Can someone tell me what a fair payment on this van should be? Is $475 a fair deal? How much better can I do?
Thanks so much for the help.
Odyssey Ex-L-Res,
4000 down, 325 month includes NYS tax (8%) 36 months all fees
same deal no $ down
436.11 a month
Is it good
Will cost $15,700 to drive no matter what I do. Told this is based of a price of 31,400ish, Did/will I get taken?
So I leased an EX this weekend. Nothing down, other than first month and plate transfer/dmv fees. $350/month plus I got them to pay off my last month lease on my Sienna (did not roll it into the new lease). And they're taking of my snow tires/wheels on my Sienna for free, and delivering them with the new Ody today, dealer is about an hour away. So overall, I'm pretty happy with the deal I got. I'm sure I might have gotten a little more off if I had walked out, but I felt the deal was fair overall. My Sienna although low miles, did have a little damage to the bumper, so they'll have to fix that, not a b ig deal though.
I definitely like the driving feel of the Ody better than the Sienna.
Considering my payments are almost exactly the same as my '05, I have to say that inflation has not kept pace when it comes to leasing, at least that's what it feels like to me. Plus, I got a better/safer van then I had before (the '05 Sienna had only front airbags, no traction control) and it looks better too (subjective). The only thing I lost was a power tailgate, but not a big deal. The EX can also seat 8, whereas my Sienna was a 7 seater.
It seems like the Ody is a better lease right now. I even looked at Fitzmall where I leased before, and they were quoting me about $350, but I needed to have taxes included up front. And a local dealer quoted me $393/mo on a LE. Go Honda!
$430 per month + tax with 0 Down for a touring 3yr/36k miles does this look any good or should i continue looking?
I just picked up a Touring in Atlanta at Gwinnett Place Honda and here were my final numbers on a 15K/yr lease (53% residual):
Sales price w/ dest.: $36,189 (includes splash guards, moonroof visor, supposedly "Protection Package" although no rubber mats)
Doc fee: $399 (seemed about average for SE dealers I dealt with)
AHFC lease acquisition fee: $595 (I don't think you can get out of this)
Monthly charge: $490 + tax
If you can get your deal and they have the color you want then I'd do it; I don't think you're going to see anything cheaper than that! Good luck!
If the dealer told me he would lease this car at invoice ($31,242) what should I expect to pay monthly? His monthly payment was $448 which I know is much too high. According to my calculations it should be somewhere around $410 including tax(6%) Dealer said I was calculating it wrong.
This is based on 36 months first payment and DMV fees upfront.
12000 mile/year for 3 year. Pay 595 acquisition and state license/title fee up front. 289 (including 6% tax) monthly.
12k for 36 months.
$303/month OTD (Inclusive of taxes, ie. tax 8.75% in bay area)
Honda Odyssey EX 2008
No down, No fees, No sec dep
Only first month lease and DMV fees.
Do you think this is a good price or Shall i work on it more.
Thanks!
2008 Honda Odyssey EX with hitch installed
36 m / 12 k
$2500 due at signing ($1200 for hitch, $750 doc fees etc., $550 cash)
$309 p/m which incl 3% tax
2008 Honda Odyssey EX-L with hitch installed
36 m / 12 k
$3000 due at signing ($1200 for hitch, $750 doc fees etc., $1050 cash)
$349 p/m w incl 3% tax
or
$2500 due at signing ($1200 for hitch, $750 doc fees etc., $550 cash)
$364 p/m incl 3% tax
Residual is around 58%, but we dont plan on buying it. We are terminating the lease (extended month to month lease, so no pentalty) on a 2003 LX Oddysey to lease above, so either model would be a nice upgrade.
Good/bad/okay?! We need to decide within the next few days.
TIA!
experienced as to how good this deal is.
$2000 due at signing which includes first month, doc,and plate transfer. Payment of $359.59 , 36 month lease, 12000 miles a year.
* Any advice or things I should be looking for or questioning?? Thanks in advance.
Newbie here!
How does the following number look for (it is given as an internet special by a local dealer). How much can I negotiate?
list price : $ 26,495
payment: $ 189
$4000 cap cost reduction/cash down or trade.
12K miles per year. Plus 15 cents/mi. over.
$15,361 residual.
$6804 TOP.
.00095 money factor.
Thanks.
2008 EX Odyssey for $348 a month, 15k miles per year. NO MONEY DOWN.
i talked them down from $410 a month. i am trying to get lower but my advice would be to keep your money in your pocket with no money down.
why are so many people talking about putting money down? you can still get good lease rates without it.
I have been reading this thread and can't seem to understand RES. What is EX-L with RES. What does RES mean. It this some kind of feature in the VAN.
Also, I have been negotiating 2008 ODYSSEY EX-L here in fremont, CA, The numbers they came up with is the foll.
$2000 Down (Includes first month, DMV and down payment)
$335 OTD including tax (8.75%)'Do you guys think this is a good price.
Your experiences are highly appreciated.
Thanks.
For 36 months, 12,000 miles per year, MF was .00095 and residual was 55% - no cap reduction (down payment).
Paying $982.00 at lease inception when taking delivery (hopefully early next week), which includes first month lease payment.
Monthly payment of $511.00 for 35 more months, including 7% NJ sales tax.
This was within range of my estimates based on research on this and other forums => equivalent sale price of ~$36,900 including the $635 destination charge.
LEASE $60.00/MO
LEASE PURCHASE OPTION OF $12,134
MSRP $26,495
$60X24, 67% RES
ALL LEASE REQUIRES 20% CASH/TRADE DOWN
TAX,TITLE,REGISTRATION, ACQUISITION FEE, DOCUMENTAION FEE
AND FIRST MONTH ADDITIONAL
Could you please post the numbers from the offer? I'm also looking to lease EX in bay area.
P.S. RES= rear entertainment system (DVD)
08 Odyssey EXL
$29152, $385.61 per month, $643.73 (first month and license plates at signing), 36 months @ 12K miles with MF of .00095 and residual of 57%. To get 15K miles, add $18 per month or $648 for 36 months. Total out of pocket, $14,140 for 3 years.
EXL with Nav and DVD
$32405, $459.7 per month, $722.28 (first month and license plates at signing), 36 months @ 12K miles with MF of .00095 and residual of 54%. To get 15K miles, add $18 per month or $648 for 36 months. Total out of pocket, $16,811 for 3 years
Touring w/o PAX
$36,200, $500.50 per month, $763.04 (first month and license plates at signing), 36 months @ 12K miles with MF of .00095 and residual of 55%. To get 15K miles, add $18 per month or $648 for 36 months. Total out of pocket, $18,281 for 3 years.
Any thoughts?
With PAX would be another $500 on cap cost.
Do you have the residual and money factor for the Odyssey LX, for 36mo, 36k miles? Also, are there any incentives compatible with the promotional lease? I'm in Southern California.
Thanks in advance.