Lease or buy 2023 Honda Odyssey

Hi Hackers- got a 2023 Odyssey Ex-L vehicle price of 41400 (before ttl and dealer fee)

Out the door price 45703 including all fees.

On a finance at 72 months at 5.9% it’s a monthly of about $740 a month with 0 down payment.

Lease price is about $735 on a 10k/36 month with just first DAS.

Does it make more sense to finance or lease this vehicle in your opinions? Thanks!

So $41400 out the door, excluding TTL and dealer fees, but including all fees? Got it.

8 Likes

Thank you, Mr. Grammar, your input really helped the conversation. Fixed.

Finance it.

3 Likes

Thank you for your input. I think this is the best way to go. Forgot to mention, I have recent college grad, so that knocks off another $500.

Got updated numbers after some back and forth. Any feedback before signing tomorrow?

I’d also check online to see what Honda can be had for, consider adding that and driving it until the wheels falls off.

A little blurry but what is emh app pack for $4k?

2 Likes

What’s MSRP? (Not market value selling price).

Msrp is 40,560 but that doesn’t include the destination fee of $1,345. So the 41905 is right on actually.

The Honda care warranty? Of course, living in Florida, the usual suspects don’t have Florida listed as an option to buy it from them (Hyannis Honda, curry Honda etc.)
Does anyone know of a dealer that sells it as a discount?

It’s Ed Morse Honda app pack- (their seemingly bs added accessories)but I got them to wave that fee. It still includes the splash guards, wheel locks, etc, but not that I want or need that but at least it looks like there isn’t an additional charge for it. It’s pretty much the Honda Pro Pack but without the all weather floor mats.

Also Ed Morse Honda includes a life time power train warranty but I’m sure there are hoops to jump through to use it. (Lifetime Warranty)

This deal looks to be $1300 under msrp which seems to be a good deal?

Any particular reason you want a new one?

The EX-L trim doesn’t hold its value well compared to trims like the Touring & Elite.

A Certified 2019 EX-L with ~25k can be had for ~$32k. It is essentially the same exact vehicle as a 2023.

Ps,
I miss the 2021 Elite I had.

On a % basis the EXL will hold its value just as well, if not better.

2 Likes

Mr. Grammar back to avenge your attack on @Jon’s honor.

“Waive.” Unless, of course, they were merely moving one’s hand to and fro in greeting or as a signal!

I always pick up two Ed Morse Honda app packs, in case one goes down.

3 Likes

Well, gee, thanks. Didn’t realize this website was a doctoral dissertation where spelling or grammar counted. Way to stay on topic and provide relevant discourse.

I priced out a used one and it’s only a few thousand dollars difference for a 4 year old car after you factor in the good old Florida dealer fees. Thank you for the suggestion. And the financing isn’t as good as well. I’m my experience, the EXL is the sweet spot for value retention.

Edit- just had a dealer offer me their “best and most aggressive offer” on a 2019 exl certified. It was a hair under 36500 with 29k miles. So for a 4-5 year old car, a savings of about 10k compared to new. Crazy that the dealer fee is $995 for a new car at 65k or a beater at 10k.

I appreciate the suggestion though!

1 Like

Yes, my experience as well.

Have you looked for the Sport Trim?

Depends on availability.

Plus the TCO difference is probably trivial. Elite will probably have noticeably higher TCO.