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2013 and earlier-Honda Odyssey Lease Questions
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MRSP: 37455, BASE CAPT COST: 32943, COST: 1927, CAP COST REDUCTION: 4677 (2750 for a 2001 ODYSSEY-EX VAN + down payment of the difference), ADJUSTED CAP COST: 29538, RESIDUAL: 20880, MONEY FACTOR: 0.00115, TERM 36 MO/12K, TAX: 8.75% (too bad)
Monthly lease: 298.5 + TAX
What do you think ? I believe I made a good deal for the EX-L with RES and just got it home
Thanks everyone!
Thanks
Just posting the deal I think I'm going to take tomorrow...
2012 Honda Odyssey EX-L w/ RES
MSRP $37455
My Price $33409 (sale sticker, TMV is 34712, USNews Avg price for my area is 34526)
Fees $1303 (bank, processing, tax, title, license)
Down payment $5000 (first payment taken out of this)
Net cap cost $30016
MF .00102 (was .00092, but got bumped when I had dealer pull out a $890 fee. Is that common?)
Term 36mo/36k miles
$333/mo $0 due at signing
Also, selling a 2005 Prius with 121,300 miles and in fair condition (front bumper cracked, some dings and dents, everything else in top shape for a 2005) for $5775 cash in a private sale. Carmax offered $5500.
Thoughts?
You can look up the exact invoice price of the van that you want over in the New Vehicle Pricing section of Edmunds.com. The invoice price of a 2012 Honda Odyssey LX is currently $26,786. So shoot for a selling price of around that or slightly less.
Using Honda's current lease program, I estimate that a 2012 Odyssey LX that has an MSRP of $29,205 and a selling price of $26,700 would have a zero down, pre-tax monthly payment of around $308...assuming that you qualify for its top credit tier.
You should treat your new vehicle and your trade-in as separate transactions. This just makes everything simpler and keeps the dealer from clouding up the deal. In fact, it would be in your best interest to have the dealer cut you a check for any equity that you have in your CR-V rather than using the proceeds from it as a down payment for your new lease. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.
I hope that this helps you out. I know from first-hand experience that car shopping with kids in tow is not an easy thing to do . Good luck and please let us know if you have any other questions.
Car_man
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I would really appreciate your help. :confuse:
I am just starting to work with dealers in the Ohio now on an EX-L lease. I have received quotes so far with 6.75% tax included and 0.00 out of pocket of:
432.00
447.00
485.00
Hopefully this will give you an idea of what is out there, though I’m not sure how FL deals may differ from Ohio deals but $475 plus tax sounds on the high end.
2012 EX-L w/RES 36/12 $5K out of pocket was $299+tax, so it would have been $317 a month.
I could have gotten that a little lower, maybe, but it was good. The 5K down was my car I sold in order to keep payments low.
Can someone please share or point me where to find the current Residual Value and MF?
Also, Are taxes paid on monthly leasing payments in TX if your lease agreement is signed in TX?
A few years ago I leased a car in other state then moved to TX and soon as I changed my address with the leasing Co. the tax in my monthly payment was removed.
Will we see better deals around July/Aug when 2013 models start selling?
Thanks
Traded in: 2008 Mercedes ML350 (44k miles valued at $23500 by every dealer in the area including this one - we owed $2500 less)
Purchased: Honda Odyssey EX (no Nav / RES)
Came with: XM satellite radio (free for 3 months) & rear camera
Out the door check: $3005 included TTL
Monthly payment: $325
Residual: $19k
Feedback??
The numbers for an otherwise identical lease of an Odyssey EX-L are .00102 and 54%.
When negotiating your deal on this van, make sure to take advantage of the $750 cash incentive that is currently available on it.
This program is scheduled to run through July 9th. It is difficult to say what Honda will do after that date. I don't expect the deals on the 2013 Odyssey to be any better than this when it is first introduced, but no one knows for certain what automakers will do with their future programs.
Car_man
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Should I negotiate on it in addition to negotiated cap reduction cost or is it in form of first monthly payment?
Thanks
I haven't seen any MF and residuals on Odyssey Touring and Touring Elites. I'm hoping to get into one of these if I can swing it. 36 mo/12k per year. Also, any others in the forum want to weigh in on whether or not the Touring with the 6 Speed auto is worth the step up? Thanks.
I was quoted $26,875 for 24 month and $21,750 for 36 month residual values on the Touring. This was from an ALG rep two days ago.
I am also trying to get a Touring in California and got a $38,429 cost cap with .00102 mf quote from the dealer but a 59% residual and 708 a month payment. But I think he used the 36 not 24 month numbers so I am going back to him with the ALG quotes to negotiate down to around a 560 monthly payment.
Cheers
John
Can you tell me if there money down on this lease for $394 with tax.
Also, any recommendations, cautions for dealers in NJ?
Thx a bunch.
I leased a EXL without res or navi for $3000 drive off and monthly payment of $321, lease paperwork showed they are at price below invoice of $1753 and residual value at 20078.80, this was at DCH HONDA of temecula, ca 92591 FYI
Car_man
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The numbers are exactly the same for the Touring Elite.
Car_man
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Car_man
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There is $750 dealer cash on this van that you need to make sure to take into account during your negotiations.
Car_man
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Can you please tell me the buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EXL-RES with 15,000 miles per year?
Also, is there any dealer cash still available?
Thank you!!
Tim
Does the June lease promo expire on July 9 and when do you think the new promo info will be available? Should I do my deal now?
There is $750 dealer cash on this van right now.
Car_man
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Car_man
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There is $1,250 dealer cash on the 2012 Odyssey this month, versus only $750 last month.
Car_man
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Car_man
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I see Honda increased the dealer cash this month to $1,250.
Can you please tell me the buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EXL-RES with 15,000 miles per year?
Thank you!!
I like the car very much, but am wondering how I faired. I've never done the lease thing before. Can you let me know?
Is anyone getting better? Because with tax, its almost $450.
Does anyone have experience doing the Costco thing?
Honda oddy ex-l with res. Everything 36 k/36 mo, taxes, random dealer fees for $15,000- at some point during the negotiations I lost track of many of the specifics (horrible I know) ... We got max value for our trade 28,000, we owed 8,000 and they wrote us a check for $5,000. We decided to do a one pay lease.
EX-L w/RES 0/0/0 Silver
15K/yr 3 YR
MSRP $38,058
SP $34,014
$498/Month
You're absolutely right about the dealer cash.
Honda Finance's July buy rate lease money factor and residual value for a 36-month lease of a 2012 Odyssey EXL-RES with 15,000 miles per year are .00063 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier.
Car_man
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