Hi! We are looking into leasing a Honda Odyssey. This would be our first time leasing. Ideally, we did not want to put any money down but it doesnt appear like that will be possible. Would this be a good deal? Was looking to negotiate 36 months if possible. Pricing below is for 2 yr lease.
$315/month for 24 month (10k miles/yr)
$4,275 due at signing (includes 1st Month payment, $2K down, $595 acquisition, $1,395 destination & handling)
PLUS Tax, Tags & Reg. Fees
With 4 small kids we need the minivan. Not sure there is an SUV that would have the space we need.
Thank you so much, appreciate any insight! Is this a good deal? This is all very overwhelming.
Thank you for replying. I would ideally prefer to to purchase an SUV in the future. Was looking for the ease of a minivan and multiple carseats for a couple years.
Welcome to the Leasehackr Forum! So the basic strategy is: Find out the RV, MF and rebates for your region (or sign up to get the info from this site through Rate Finder). Figure out (on this forum and other places like ChatGPT) what MSRP discount is achievable. Then use the LH calculator. See if you’re comfortable with an achievable deal. Then start calling every Honda dealer within a range you’re comfortable picking up your new car from to see if they’re willing to get you said deal. Good Luck!!
I buy and trade in Odyssey Elite’s every 3-4 years whenever it gets refreshed/redesigned.
Typically I’m able to get something around 8% discount and decent trade in values, so it costs me around $12-15k to upgrade to a new one. This gives me the freedom to keep a car longer if needed, such as when they stretched the 2nd redesign from 2024 to 2025.
I’d wager if you financed the car and traded it in 2-3 years, you’d still come out ahead effectively monthly wise than leasing it.
I agree with @max_g and @JMMZKDTH. Hondas hold their value so well that I suggest buying and having the flexibility to keep/sell in a few years with low financial risk. FWIW, I owned Odyssey when my boys were young. Sold it @ 5 years and bought a Pilot. Pilot has been good but still prefer the Odyssey. Power sliding doors awesome for loading/unloading kids, large and low load height storage behind seats, great space for the kids.
Agreed. Kids don’t need adult help to buckle up just when they’re in harnessed car seats. By the time you’ve gone from FF car seats to booster (4-5 years of age) they still need help with seat belts. By the time the youngest doesn’t need your help the oldest needs more space to stretch out.
At least in SoCal there is 3500 in lease cash but mf is 6.6%. Op needs to compare incentives in purchase vs lease. Doing 36 months and capturing any equity at the end of the lease may not be that far off from buying. Also depends how OP’s state charges sales tax.
HFS doesn’t allow third party dealer to buy out the lease so with limited options to capture any potencial equity the lease is not the best choice IMO.
I’m going to echo what others have said here, that an Odyssey is a better buy thank lease and will hold its value. You have 4 kids, you need a Minivan. I have 3 kids and kick myself for not buying a Sienna or an Odyssey way back when. The only SUV that has the space you need or will need is a Suburban. Those are $60K plus.
