[Gary]

Hi gang,
I don't know if anyone had an opinion of buy vs. lease with the 2002 ody - I didn't even realize leasing was an option until I went and put a second down payment with a second dealership (as I say to them, I have no loyalty with car dealers!!!!) - I felt I MIGHT put excessive mileage on the van (versus the family sedan) but after thinking about it, leasing sounds good - I get the 2002 nav now, and in a few years can INSTEAD get the RES (I know, I could add ives to the nav) - anyway, anyone have any idea about the ody's residual after about 3 years? thanks a bunch!
Gary

 

[MMCD]

I had just leased a Chevy Suburban. I asked what the risidual was for an Odyssey. It was 51% but I can't remember if it was for 3 or 4 years.

My Leaser advised me not to lease an Odyssey because you buy it at MSRP. I think he was telling me that leasing the Odyssey was a wash. It does hold its value though.

MMCD

 

[Homer]

>>>>It does hold its value though.

Boy Howdy! I've seen '97 LXs with upwards of 60k miles going for around $15k and a '97 EX for almost $18k. Geez, what was the MSRP for those models?

 

[AA]

<font face="Verdana, Arial" size="2">Originally posted by Gary:
Hi gang,
I don't know if anyone had an opinion of buy vs. lease with the 2002 ody - I didn't even realize leasing was an option until I went and put a second down payment with a second dealership (as I say to them, I have no loyalty with car dealers!!!!) - I felt I MIGHT put excessive mileage on the van (versus the family sedan) but after thinking about it, leasing sounds good - I get the 2002 nav now, and in a few years can INSTEAD get the RES (I know, I could add ives to the nav) - anyway, anyone have any idea about the ody's residual after about 3 years? thanks a bunch!
Gary</font>

I leased my 2002 GG EX, residual value is about 63%. So for a $28k vechicle residual value is about $17k after 3 years. Which is not bad since the 1999 odys are worth more than that, (but things can change once AL plant comes online). Anyway with a lease your payments are smaller compared to the same time frame of a 36 month finance. But the kicker is that you have to come up with $17k at the end of 3 years if you want to purchase the vehicle. All the taxes and fees are paid up front, so you don't pay again at the end of the lease should you decide to keep it. Or your other option is sell it on your own and pay off lease maybe make a profit??, or you could hand in the keys and walk away (good if you get a lemon or just have to have the new 2004 model). My payments are $400./month.

Either case learn about leasing and decide which works best for you.

AA 2002 EX-GG

 

[2002 LX]

I just leased an 02 LX in a deal that included keyless entry, alarm system, pin stripes, and splash guards ( all options on the LX). The negotiated buy price was $ 24,750 plus tax. The lease is for $ 367/mo. with $ 2,500 down. The lease is at 6% ( multiply money factor in lease by 2400 to determine APR ). Residual is 63%.

 

[bobf58]

Hey Jim,

Don't you want to get into this leasing discussion?