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2013 and earlier-Honda Odyssey Lease Questions

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  • mrobie64mrobie64 Member Posts: 4
    I've been shopping for an EX and received the following quote from a local dealer in the San Fernando Valley:

    36 month lease
    12k mile per year
    0 down
    $327 per month (includes taxes)
    $729 drive off (registration, acquisition, 1st month payment)
    $27,700 sale price (this includes the $1500 manufacturer to dealer cash incentive)
    residual value is $18,286.80

    Having never shopped for a lease before I really don't know how good this deal is. Thoughts?
  • yoyo77yoyo77 Member Posts: 2
    mrobie64, what dealer did you get this deal at?

    Thanks.
  • mrobie64mrobie64 Member Posts: 4
    Galpin Honda. I got the car and actually negotiated the selling price down to $26,900. Other dealers wouldn't match it so I'm confident that I got a good price.
  • mrobie64mrobie64 Member Posts: 4
    With the lower sale price I went for 15k miles per year. My monthly payment is $326 and that includes tax.
  • jmailjmail Member Posts: 20
    Carman,

    Do you have the May lease figures for the 2013 Odyssey Ex-l (no res, no nav) 36 month 12k miles? Thanks!!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I sure do jmail. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with 12,000 miles per year are .00048 and 55% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is providing $2,000 dealer cash on the '13 Odyssey EX-L right now. Make sure to take it into account during your negotiations.

    Car_man
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  • mrthnmanmrthnman Member Posts: 24
    Hey Car_man , do you have the numbers for the 2013 Odyssey Touring ?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Sure mrthnman. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey Touring with 12,000 miles per year are .00048 and 50% for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is providing $2,000 dealer cash on the '13 Odyssey EX-L right now. Make sure to take it into account during your negotiations.

    Car_man
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  • jmailjmail Member Posts: 20
    Carman,

    The edmunds website is showing 2500 in incentives available for a lease. Is that right or am I misreading the incentives information? There appear to be 3 programs but one is not combine-able. The other two are for 2500. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jmail. Interesting. I had heard that there was $2,000 dealer cash on the 2013 Odyssey. It certainly does look like Edmunds states $2,500. Even better.

    Car_man
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  • jmailjmail Member Posts: 20
    Agreed! More is better! Just wanted to make sure I'm getting the best deal out there. Thanks so much for the help!
  • katieadkatiead Member Posts: 2
    I've got an offer for lease 2013 Odyssey EX-L
    sales price $30,534 minus $750 cash incentive covering the upfront fee, 1st payment and $139 toward cap cost reduction.
    the residual is $19,056.15, fees total $210.00 and the excess mileage charge is .20.

    0$ out of pocket, 35 payments
    Payment before tax $355.49 after tax $387.48
    Is this good? How do I get them to lower the sales price? They say this is with the $2500 incentive included. I have been doing all research by email. Do I just offer a lower price? How low is reasonable? Could I ask them to throw on roof rack? I forgot to get one in the quote. They say they have 3 of the color i want in stock as well (black). Thanks for any advice!!!
  • njhonda1978njhonda1978 Member Posts: 1
    Hi Car Man,

    Could you provide the numbers for an EX-L with DVD-RES for 15k miles per year?

    Also, in regards to the 2000 dealer cash - Edmunds says that a fair purchase price is $33618 for this car - would you try to get the 2000 dealer cash off this figure?

    Thanks
  • jessewkjessewk Member Posts: 2
    I leased a 2013 Odyssey EXL with res on 5/15 Smoky Topaz with truffle leather.
    Central Florida Market and with very good credit.

    Purchase price was 32044 - 750 Honda down payment assistance = $31294
    12k mile 36 month Lease
    Payment 375 plus 24 in taxes =$399 payment with a $1000 of my own cash down.

    Residual is $19581 Money factor was the .48 number in previous post's

    This dealer installs door edge gaurds, pinstripes, splash gaurds, trunk tray, wheel locks, nitrogen in the tires, and window tint on every odyssey in stock which adds $2100 to sticker. I argued that was a little rediculous and sales manager thru them in for free but I feel I could have got a better purchase price if the vehicle was stock. That being said I do like the additions.

    I stress this is probably a "good deal" and not great as I do not have the negotiating patience as my father but we had a number in our head we wanted and when we got there we took it.
  • res332res332 Member Posts: 18
    edited May 2013
    Carman,

    I have a deal to lease an Odyssey EX, 36 months @ 12K miles per year for $425 down and a monthly payment of $309 which includes PA taxes (about 9%). To increase milage from 12K to 15K per year dealer said monthly payment would increase to $330 a month. Does this sound about right?

    Thanks
  • wesoweso Member Posts: 13
    Carman, can you give me the money factors and residual values for a 36 month lease of a Odyssey Touring Elite with 10k and 12k miles per year? I've gotten a quote of $550 per month on a 36 month, 12k miles per year Touring Elite which seems high and wanted to run my own numbers and show them.

    Scoured the site and didn't see any numbers for the Touring Elite, apologies if I missed them.

    Many thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome jmail.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited May 2013
    Here you go njhonda1978. Honda Finance's May buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with 15,000 miles per year are .00048 and 51% for consumers who qualify for its top credit tier.

    If I was in the market for this van right now in an area that has a decent level of competition, I would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $2,000 dealer cash.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, the payment increase that you were quoted for a switch from 12,000 to 15,000 miles per year does look about right.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Certainly weso. Honda Finance's buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey Touring Elite with 12,000 miles per year are .00048 and 50% for consumers who qualify for its top credit tier.

    The residual value for a lease with 10,000 miles per year would be 1% higher.

    There's $2,000 dealer cash on this van right now.

    Car_man
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  • tcurtintcurtin Member Posts: 5
    Hi Car Man.
    I am looking to do a 36 mo/36k lease on a 2013 EX-L-RES with $0 down, taxes (8.625%), tags,title,etc inclusive "sign 'n drive" deal for $400 or less/month. A true sign 'n drive w/ absolutely no money exchanged whatsoever! I have excellent credit.
    Is this reasonable and if so, what sale price would have to be negotiated in order for these numbers to be achieved?
    Any help in this matter would be greatly appreciated!
  • gottobekiddinggottobekidding Member Posts: 1
    Just leased an Odyssey LX. 0 down .289.00 month including all taxes. 36months 36000.Seemed like a real good deal. What do you think.
  • fatygifatygi Member Posts: 2
    I leased an EX-L (No Res/No Nav) for $362 per month (including tax). 0 down, 36 months lease, 12K per year and first's months payment made by the dealer. Excellent credit, money factor was 0.00048 and 53% residual.

    What do you guys think, comments?
  • d_nyholmd_nyholm Member Posts: 80
    That seems like a pretty good deal for a Honda lease. Though better deals are to be had with other leasing companies.
  • ebd4662ebd4662 Member Posts: 35
    Carman, could you please provide AHFC's May money factor and residual value percentage for 2013 Honda Odyssey EX-L with RES. on a 12k per yr. / 36 month lease. Thanks soooo much.
  • kohyutakohyuta Member Posts: 16
    This is the deal we signed over the weekend for our EX-L w/RES...

    $347/month for 36 months, 36k miles, $3200 due at signing.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tcurtin. According to my calculations, $500 over invoice minus incentives gets you to a zero down, pre-tax monthly payment of around $398. That's not even including any fees like acquisition in the cap cost. So in order to get this van for under $400 including tax you're going to have to get the dealer to lease you this van for well under invoice. They probably would have to use some of the Flex Cash certificates in order to do so. So, it might be possible but it would be one heck of a deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ebd4662. Honda Finance's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX-L with RES and 12,000 miles per year are .00048 and 52% for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal, make sure to take advantage of the $2,000 dealer cash that is currently available on this model.

    Car_man
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  • ebd4662ebd4662 Member Posts: 35
    edited June 2013
    Car_Man, as always thanks for the help!.

    Just negotiated this deal in Brooklyn, NY , let me know what you think.

    2013 Odyssey EX-L RES 3yr/ 36k miles.

    $419 per mo. tax included. No money down (cap cost reduction)
    1st month payment of $419and $595 bank fee= $1,014due at signing.

    MSRP $37,655
    Sale price $32543
    Residual $19581 (52%)
    MF .00048

    All advice welcome. thanks
  • mrthnmanmrthnman Member Posts: 24
    thats pretty good , what dealer did you get that from ?
  • tcurtintcurtin Member Posts: 5
    Hi Car man. Thanks for your response.
    One more for you:
    What would the target sale price of the vehicle be in order for resultant monthly payment be $400(all fees inclusive)?
    For example, you state that it would have to be sold below invoice.
    What would that invoice price be and /or what would the cost be with flex cash applied?
    My current lease expires at the end of June and I have already received two offers from dealers who claim to hit my number ($400,$0 down,taxes,TTL inclusive).
    I just want to make sure this is possible before I set aside a day to close this deal and get served a "bait and switch sandwich" at the dealership.
    Thank you sir for your help in this matter.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, ebd4662. the money factor and selling price look great to me. If you like the van, this is a good deal for it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tcurtin. The previous poster that I replied to got this van for right around invoice minus the $2,000 dealer cash and they were at $419, so you'd have to beat that price. You can look up the exact invoice price of the Odyssey that you want in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • pinkandbluepinkandblue Member Posts: 1
    Hi Car Man!
    Can you please give me the money factor and residual value on a 2013 Odyssey EX with 12,000 miles a year for 36 months for June?
    Thanks so much!
  • lazy_melazy_me Member Posts: 15
    Just leased 2013 Odyssey LX for $1500 down, 230/month, 36 months, 15k/year. Wanted to go simple since my kids are old enough already to open those doors.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pinkandblue. Honda Finance's June buy rate lease money factor and residual value for a 36-month lease of a 2013 Odyssey EX with 12,000 miles per year are .00048 and 56% for consumers who qualify for its top aka "Super Preferred" credit tier.

    When negotiating your deal on this van, make sure to take advantage of the $1,500 csh incentive that is currently available on leases of it.

    Car_man
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  • rjoh1969rjoh1969 Member Posts: 9
    I received this offer today on a 2013 Touring:

    $485/month (7.75% tax included) for 36 months and 15K miles per year with a total of $1,375 out of pocked. This includes roof rails and body side molding added on. I think I can do a little better as I was looking to only put down first payment and fees for a total of about $800 out of pocket.

    Thoughts?
  • drivingmamadrivingmama Member Posts: 15
    What's a fair price (cap cost) for a 2013 Touring Elite?
  • blackexv6blackexv6 Member Posts: 503
    Hi Carman,

    Whats the money factor and residual for Touring models? Can you give me both 12,000 and 15,000 miles?

    I have an offer to buy a '13 Touring for $36,300 so I'm assuming the pricing will carry over to the lease.
  • bigroc34bigroc34 Member Posts: 7
    Hi Carman,

    Can you give me the Lease Money Factor and Residual Rate on the TE Model for June. Both with 12,000 and 15,000 miles for 36 months.

    I have also been quoted $37,500 on buying a 2013 Touring Model so want to weigh leasing and purchasing after the lease term or buying it outright.

    Thanks!
  • donny93donny93 Member Posts: 2
    I just negotiated EX-L for $349 including taxes, 36 months, 12,000/year miles, $0 down. All i have to pay is first month $349 + $595 bank fee. I wonder if there is going to be a better deal for father's day?
  • sc_carfolks44sc_carfolks44 Member Posts: 2
    edited June 2013
    I just negotiated EX-L (no res/no nav) lease for $295 not including taxes ($320 total), 36 months, 12,000/year miles, $0 down. All I have to pay is first month, Doc and DMV. Total out of pocket was $766. Tax rate here is 8.75
  • adrian1973adrian1973 Member Posts: 1
    Hi Carman -

    thanks for all the great info you post on the forum. Do you happen to have the money factor and residual for Touring and TE models, 12k miles, 36 months? Also - the Edmunds website is showing 2 incentives, one is a $1500 dealer cash incentive for financed deals and the other is $1000 "dealer bonus cash 1" which says it can be combined with other incentives and financing. Am I interpreting correctly that there is $2500 is total dealer incentives available for a Honda Lease deal?

    Many thanks
  • donny93donny93 Member Posts: 2
    that's a great deal. What state?
  • sc_carfolks44sc_carfolks44 Member Posts: 2
    California.
  • nataliev4nataliev4 Member Posts: 3
    Hi can you please tell me where did you get this offe
    R
    I want to get this car too they gave me estimate 350 before tax monthly and 1000 down

    Thanks !
  • ezbcpaezbcpa Member Posts: 5
    Here in North Miami Beach Florida the rate for my lease of 36M 12K miles TE is .00048 and RV 50%. $2,500 incentive. Cap cost $40,000 no money down.
  • richard1111richard1111 Member Posts: 17
    Would you mind sharing which dealership you got this great deal from? Want to lease the same Odyssey. thank you!
  • nataliev4nataliev4 Member Posts: 3
    Dear sc_carfolks44
    Can you please tell help me with advise to get the same price, where should I go ?
    The best price I got is 335 before tax
    I will approtiate your kindly answer a lot!!!
    Thank you so much :)
    Natalie.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello drivingmama. If I was in the market for a 2013 Odyssey Touring Elite right now, I personally would shoot for a selling price of around $500 or so over invoice minus the available $2,000 dealer cash.

    You can look up this van's invoice price over in the New Vehicle Pricing section of this site.

    Car_man
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