New to leasing and looking for a family minivan. In terms of MF, residual, lease, or credits (if any at this time) what should I be looking for during this weird time? Honda Odyssey EX-L 2022 36/10k and zip is 07444.
I had a few exploratory negotiations with dealers and because of the chip shortage and minimal inventory I am not getting much movement. Ideally would like to have the van for the summer for family outings but could wait a little longer if things get better with chip shortage.
I am getting familiar with Rodo but nervous after seeing recent posts about bait and switch on here.
Rodo is showing the following:
Monthly: $421
DAS: $3,673
Bank fee: $695
DMV and Dealer: $1,099
Tax: $1,458
Add-on: $199
Residual: $21,166
Disposition: $395
Over mileage: $0.25
MF 0.001000
Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option. The forums at Edmunds are where we go to get that information, as they have direct access to it from the captive banks. You’ll want to post in the model specific thread for the vehicle you’re interested in and request the most current numbers for your zip code. It is often easiest to find that thread by searching Google for “Edmunds lease” followed by the model of vehicle you’re interested in.
Here is a good resource for pricing. Most these deals are purchase not leasing, but if you compare the 2021 prices to 2022, you’ll probably realize how historically bad the deal you have is. If you can wait, I would. You might be waiting for months though. If you can’t, be prepared to pay MSRP.
