Hi all: Long time reader, first time poster.
My wife and I are considering upgrading her 2016 Honda Odyssey with the current incentives available, while being mindful of the current situation and not taking advantage of it. While we think our current 65,000 van has some life left, we wonder when the positive equity may turn negative with miles.
Here’s one of the lease quotes I am currently considering and would welcome professionals feedback.
2020 Honda Odyssey Touring
Total price with dealer adds: $49,499
Selling Price: $42,938.06
Residual: 59% ($27,172)
It does involve a trade in which I have just a couple hundred dollars of positive equity.
The taxed difference is $21,938.
36 / 12k
Payment with just first payment DAS: $543.
I still feel like there’s room in either the trade or the discount especially with all the dealer adds.
Based on my research, I feel like the residual and MF are decent.
Welcome your feedback.