2018 Honda Odyssey EX-L Deal or no Deal?

Ask the Hackrs
1

Hey Hackers!

Getting $400 monthly for 48mths/30K miles.

Drive off:

$1215 including (1st month $400 + Doc. Fee $445 + Registration: $370)

Deal or No Deal?

2

MSRP? Residual? MF? Sales price? You’re giving nearly no details so it’s hard to evaluate.

3

The 7.5k per year is terrible too. I’d make sure you’re not going over mileage on a 48 month lease. Gonna get awfully pricey.

4

MSRP: 38500;
S.P: $33700

Residual: 56% ($21504)
MF: 0.0020

5

Aren’t you going to better just to buy with 84 months financings with rates close to 0?
But the end of the 48 months you will have much more equity left in this car driving only 30k of that time frame while paying lower interest rate?

6

I am interested in leasing initially and 30K miles isn’t too bad given my usage

7

YUK! 48 Months (12 months with No Warranty), 7.5k miles (625 miles a month/thats only a tank and half of gas worth of driving), paying $20,000 over the full lease term, for so few miles. No Deal. I would just buy the thing.

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8

Thank you for all the feedback. Called off the deal unless something changes on the MF, gives me 10k miles and the dealer takes the drive off and makes it 0 down then it might be worth considering

Thanks again!

9

Payment wise there is no drastic difference between your lease at $400 and financing for 84 months at that sale price.
What’s the point of leasing then?
Usually you lease when payment is significantly or materially lower.

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10

I’ve looked closely at the Odyssey before, it just makes no sense to lease these vehicles. RV is generally bad, dealers usually don’t go that low on selling price either. Finance is the best bet.

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11

That is a great discount so just buy it and drive it pretty much forever at only 7,500 miles per year.

12

I don’t get why people keep saying this. If you don’t need the miles, why get it? You are paying for it. It’s not like the dealer can just magically give out free miles (RV change).

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13

OP, I leased a 2015 Odyssey EXL in April 2015 for $375/mth (before I found this site). It was a 36/12. The one benefit was the 3k equity I had earlier this year when I traded it in. These vehicles don’t lease well, but do hold their value, so they make a good purchase opportunity.

14

I agree with you and my past usage has been around 7500 which is why I’d worked some numbers with the dealer on that but having 10k is just a bit peace of mind should something change in the next 3 years of my driving need.

Irrespective of the mileage, the monthly numbers didn’t work well and the dealer went back after initial offer

15

Sounds like a good deal which I’d have been willing to sign in for 2018 … you put anything down?

I got $400 but with 1215 drive off so I called it off

16

It was first month down, but the dealer contributed something to make the deal happen. Also, the body style was 5 years old by then, whereas the new body style probably has less discounting or higher MF.

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17

I was offered zero down $399 for an EXL, last day of the month. My current deal is $370 12k a month miles. I have 3 more months on my lease. They also offered to buy my car for 2000$ and I walk away from the lease. I am well under my miles. I have a 2015 EXL. I thought I would check the web to see what others were offered…not impressed by anyone’s deal.

18

Try carmax or a KBB instant offer on your 2015. You might have more equity than that in it. Have you check Pacifica or Sedona or Qx60?

19

If you drive so little, why not just buy the car, then sell it when you want to change. For Honda, it usually work out better. Getting a higher mileage lease is NOT your answer since you don’t need the miles anyway.

20

15’ EXL for $2000 ? wth ?? lol

$370 12k 0 down, basic drive off is a very good deal for 18 EXL