Hi all,
Possibly leasing a 2020 Honda Odyssey EX-L. I have attached both the purchase option and lease option although I am having a hard time with the lease. Are they trying to charge me MSRP?
MSRP: $39055
Total Discounts:
MF: .00192
Mileage: 12K/year 36 months
RV: 59%
DAS: $3,000
Monthy Payment: $370 tax included
Do you think this is a good lease deal? What other information can I provide?
Thank you,
You need to do the math comparing the cost of leasing vs. financing.
You don’t have selling price but it presumably should be the same as the ‘purchase option’ selling price. Verify that. The discount seems pretty strong. I don’t know where you are located but a $799 doc fee is absurd. The $299 tint is pretty dumb considering that all of the windows except for 2 are already tinted 
Have you looked for leftover 2019’s? I’d suspect you could get a much stronger discount on one if so inclined.
Thanks chrishs2000. I am in Florida and agree about doc and tint fee. I have seen a couple LX and EX models but not many 2019 EX-Ls. This is for the wife and will only need for a few years which is why we are considering leasing. In all our years we have only purchased, never leased.
@mani_is_kool is the dude for Honda in Florida.
Cast a wide net. You’ll save a ton on doc fees just by getting out of FL.
The discount is great. The money factor stinks, but you are essentially at $460/sign and drive with tax included which for an Ody EX-L is pretty good since they never have rebates.
There’s $1000 dealer cash on all trims of the 2020 odyssey which. Overall an OK deal but might be better. Im still working on finalizing deals for this month, which should hopefully be done by Saturday. Hopefully can give you a better idea.
You think the discount could improve? Seems like they are deep on this one and used the $1k. If the MF didn’t suck so bad this could be a solid van hack.
If they’re using the purchase discount you should be at 351 a month with 7% tax included.
Still a good discount. Just ask them what selling price they’re using.
Thank you. Emailed them last night and waiting on their response. Is it typical for dealers to play games by using two different selling prices when leasing vs purchasing?
Let me know how this shakes out, trying to use it as leverage for a deal here in AZ.
Some vehicles have a different amount of lease cash and finance cash.
Hi all,
Received voicemail from the manager confirming:
MF: .00192
Residual: $23,042.45
Cap Cost: $31,706.63
Can someone with experience using the lease calculator confirm the monthly payment of $370 with $3,000 due at signing is correct?
Also, what add on’s, if any, will they attempt to sell me in the finance office should I consider choosing? When purchasing outright in the past I have always told them to pound sand but since I will not be owning this and it will be family hauler for the next few years (kids soccer, lacrosse, etc.) are there any that make sense?
Thanks,
@matt1028 Heh, I’m still trying to figure out if this is a decent deal! I mean, I understand everyone has to eat but…
Your % off MSRP is ridic. I can’t get a dealer to touch it!
It’s correct. They are giving you 18.4% off MSRP, adding back $299 for tint and you are using the $3k for driveoffs and the tint essentially. If you roll it all into the lease, you can drive off at $0 out of pocket for $455-$460 a month all in.
Sign the deal. It’s a crazy good discount - I bet you can’t find a 2019 EX-L on autotrader listed for less. Here’s a fun game: type the VIN into Carvana with 500 miles and tell us if it has positive equity from Day One. Don’t worry about the lease calculator, worry about the lease contract and make sure no extra dealer adds or fees are thrown in.
Say no to everything in F&I.
+1 for say no to everything in finance.
Company had 4 Odyssey for the past 4 years, I have to tell you that the build quality sux. Things get broken easily and right after 3yrs you will see some mechanical problems. Not like the old Japanese cars that people saying you can drive it for 10 plus years.
It is wise to lease it…imo
Got the lease deal done over the weekend. Info the same as above, except instead of paying the $3k DAS, I traded in an old vehicle for $3500. Added all weather floor mats for $175 (as they wouldn’t throw them in as they claimed they were already losing $2700+ on the whole deal, (yeah right)) and monthly payment ends up being $356 for 36 months.
Appreciate all the help everyone.
This was for sure a loser deal for them. Congrats on the Ody! It is a great family vehicle.
