I’ve been following the forums for a long time and I’m a huge fan of the community. I have two upcoming leases that are expiring. One for my dads 2016 Honda Odyssey SE, and my 2017 Honda Accord Sport Limited Edition.
I went to the dealer over the weekend to discuss terms for a new 2019 Honda Odyssey EX-L. Based on the forum, I know you guys said Honda Odyssey’s don’t lease well and to be honest, we’ve never used the leasehackr method before (asking about money factor, residual value, and etc.) We’ve always just wanted to 0DAS sign and drive and push to get monthly payment as low as possible. We’re long time Honda customers so we’ve always used that as our leverage. So enough talking! What’s the deal like? Here’s what I got from my dealer:
Residual Value 60%, Buy Out 24,423
Money Factor: 0.0017
39 Months LEase
I’m assuming the MSRP would be 24,423*1.6 = 39,076.80
I asked about incentives such as lease cash or loyalty. They said they’re going to buy out the rest of the Odyssey payments for the next two months and my MF I got because I was a returning customer.
This is with everything included into the payment, 0DAS. He said if I put 1k down payment, my payments would reduce by 20 dollars a month. I asked about MSD’s he said the dealer hasn’t done MSD’s in the past 5 years.
Sorry if I did anything wrong! I’m willing to learn the right methods and I haven’t contacted any other dealers yet. Do you guys think this is a good deal?
I personally am trying to convince my family to go for 3rd Row SUV’s looking at the current deals for CX-9, GX60’s and etc. I think 485 is on the high.
Check my recent post. I got the same van but at 10K miles $459 with 0 DAS. As you know Honda Odyssey will not have a lease that we are typically used on LH but there were a few dealerships that won’t even meet (forget beating) the 459 figure.
so yours $485 at 15K mile seems about right to me. If you want to know if they are indeed giving you a fair deal or not, ask for their offer at 10K miles then you can compare to my deal.
I think when they first came back with an offer they gave me a price with 12/year. When I asked for 15k, he just said ad X amount of dollars to the monthly payment, and the taxes & fees and he got the 485.
You’re right the money factor for this may be the 12k now that I think about it. Sorry for the confusion. Even with the 15k/yr MF do you think the monthly payment is a good deal?
forgot to mention, your 2019 EX-L has either MSRP 38605, or 2019 EX-L w/ Res/Nav $40605 … (only difference in the two is inbuilt navigation and rear entertainment - I find both of them not worth $2k differential at all - you can mirror your android/apple for navigation plus add a couple of tablets for kids - still won’t cost you more than a few hundred $$s).
Having said that, @tqpolo is closer to the MSRP on these vehicles I wrote above … and @nyclife is probably right too - Quentin knows his things well - feel free to take him up, good to work with. Not sure of your region and if he does outside tri-state
Did you confirm if this $485 (if indeed for a MSRP 40605) is including tax, tags, registration, dealer doc etc. is all rolled in? If so, based on my last week’s experience, I believe it is a very solid offer! You may be qualifying for Honda loyalty also which I did not.
One final way of knowing worth of your deal is, go and present your number to a few dealers in your region, and be ready to sign if they can better the deal. If they cannot beat by $5-$15 or more, you know you have made it best with what you have as no dealer would want to leave a deal for that amount if they can. And if they cannot, that means they really cannot and are indifferent to loosing your business to the other deal you have made good with.
Thank you for your feedback! I know I didn’t do everything perfectly right out the gate, but when I go back this weekend I’ll make sure I get all the right information.
I think when my car lease ends for sure (Accord Sport), I’ll need Quentin’s help because I’m going to try and get a luxury car which is gonna be a bit more difficult. I’m from NJ so we’re good there.
I did confirm the 485 is including everything because we always do 0DAS sign and drives, but I didn’t confirm if they take the first months payment. I’m going to present this deal with a few other dealers in the area before I go in next week. Hopefully I have some good updates for you guys in a few days.
The extra 2k on the 36m is about 60/mo so there’s no advantage to 36m, plus you’ll have to keep the car an extra year and likely replace tires before lease return
Guys,
I am looking to lease at 2019 Oddysey Ex-L:
12k, 3/36
60062 Zip Code
Zero down but first payment and taxes
Not a previous Honda Owner either (Pathfinder coming off lease)
I am being told by the dealer that Honda Finance is 58% residual and .00121 mf.
Payment estimation is $484 by the dealer. Can you guys confirm the residual and mf bc they are diff’t than above. I saw that someone scored a great lease for $453 which is a $1k off.
You guys rule and do great things for people like us. I thank you from all of us!
You can confirm the residual and MF by searching “2019 Honda Odyssey MF” and posting your specific lease terms & zip code over on the specific Edmunds forum.
Looking for help… 2019 Odyssey Elite, $43,500, great credit, 36 for 10,000 miles we were quoted at $522 a month which seems way too high to me. I do not get how to calculate all this… can someone tell me what would be a good monthly payment and how to present to dealer to get what I want? Oh and this was with $4,000 down!
That quote is a joke, especially with the DAS number, but these generally aren’t leasing well at all. They don’t usually offer any incentives for leasing on the Odyssey. At that point you are better off just buying it if that is what you really want.
Brand new to the site and so happy to find this and get more insight with lease vehicles.
2019 EX-L Nav & DVD - 12k per year / 36 month lease
MSRP: $40,755
Sale Price: $36,702.48
Discount: ($4,052.52)
Est Fees: $615.41 (CU Membership fee, doc fee, license fee, permit fee, registration fee, state Im fee, tire recycle fee)
Est Taxes: $2,756.60
Est Total Price: $40,074.49
MoneyFactor: .00069
Residual: $18,205.45
Options:
Down: $2,000 = Monthly: $451
or
Down: $3,000 = Monthly: $421
or
Down: $5,000 = Monthly: $362
We will be stopping by another dealership in our area 84111 this weekend and decide between the two. Hopefully this is some good numbers. We asked for the 10k per year but the MF goes up as with a 39 month lease too. Stated Honda had an incentive using the 12k per year at 36 month lease.
