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Discussion Starter #1
hey, just curious. with all this demand for our new van and the stratospheric prices on the elite did anybody here attempt to negotiate on leasing?

I know there is a thread for pricing BUT, its a whole lot different when you lease a vehicle.

Thanks!
 

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Discussion Starter #4

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Bought - couldn't pass up the 0.9% and I've never seen a financial advisor advise someone to lease. ;)

yup. 0.9% is a very good deal. other than the APR did you consider
leasing?

I myself bought just the EX.. could NOT see myself leasing a minivan, but to each his/her own
 

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No question was a buy for us... wife puts on 30K miles per year. Would be a pretty short (and expensive lease).

JD
 

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I will be wounded and disappointed if my children lease unless it's muscle car or sport car. Yay for them. I will tell my children No Lease unless they are keeping it for short time depending on their situation.
 

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ahem.. I think I'm losing mojo. Anyway, just for some sarcasm-- did read the header?:cool::rollingeyes::redface:

DID YOU BUY OR LEASE UR ODY? HEHEHEHE
yup. 0.9% is a very good deal. other than the APR did you consider
leasing?

I myself bought just the EX.. could NOT see myself leasing a minivan, but to each his/her own
:confused:

So, you definitely believe in purchasing the cars but yet we have this thread. The idea of this thread is ........ ? I am afraid I don't understand why you'd post this if you already say you can't see yourself leasing.

:confused:
 

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Discussion Starter #9
:confused:

So, you definitely believe in purchasing the cars but yet we have this thread. The idea of this thread is ........ ? I am afraid I don't understand why you'd post this if you already say you can't see yourself leasing.

:confused:


The idea of this thread is ........ to know what OTHER(s) stand/take on buying or leasing. or did they bought it or lease it? why?

I am afraid I don't understand why you'd post this if you already say you can't see yourself leasing.

HA?:huh: what are saying? I think we're on different page

..jeezzz,,, no wonder this place is...:frown:
 

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I leased our first 2011 Touring but then got someone to buy me out of it and financed out Touring Elite with the .9% financing. Pricing was not fantastic on the van itself but we financed for 5 years and I didn't know how much better I'd be able to do on the pricing in the near future... which so far would be even worse since inventory hasn't improved yet. I figured out what the savings might be if I could get another 1-2K off the car but it wasn't that big a difference in the price. We are driving about 23k a year right now so it probably makes more sense for us to finance. Hopefully we will trade it in for a new van as soon as we make the last payment.

We had a decent money factor and I did better on the pricing on the Touring back in November... quite well considering the car had just come out... but I realllly wanted the TE.
 

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Discussion Starter #12 (Edited)
just a quick note--- I'm NOT against leasing. I did lease once..


I leased our first 2011 Touring but then got someone to buy me out of it and financed out Touring Elite with the .9% financing. Pricing was not fantastic on the van itself but we financed for 5 years and I didn't know how much better I'd be able to do on the pricing in the near future... which so far would be even worse since inventory hasn't improved yet. I figured out what the savings might be if I could get another 1-2K off the car but it wasn't that big a difference in the price. We are driving about 23k a year right now so it probably makes more sense for us to finance. Hopefully we will trade it in for a new van as soon as we make the last payment.

We had a decent money factor and I did better on the pricing on the Touring back in November... quite well considering the car had just come out... but I realllly wanted the TE.

1K off is like $20-25.. was it difficult to get out of a lease? (never heard a new lease that was taken over/ buy-out)

thanks

PS. did the van depreciate that much? I'm actually worried on the van being a FWD that this might be really bad on snow/winter . so, we might go back to 4WD/AWD.. probably mazda CX-9
 

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just a quick note--- I'm NOT against leasing. I did lease once..





1K off is like $20-25.. was it difficult to get out of a lease? (never heard a new lease that was taken over/ buy-out)

thanks

PS. did the van depreciate that much? I'm actually worried on the van being a FWD that this might be really bad on snow/winter . so, we might go back to 4WD/AWD.. probably mazda CX-9
I think for $2000 off the price of the vehicle we would have saved about $40 a month. If the .9% wasn't available for 60 months at the time we could finally get the van at the better price, then the savings was going to be negligible. Plus, inventory in my area is so scarce and I called at least 40 dealers in working the deal. Believe me.. no one was dealing on price and so I can't imagine pricing being much better for at least a year.

Why do you think the van depreciated a lot? Our first held its value well which is why I was able to get someone to buy me out of my lease so early.
 

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Discussion Starter #14 (Edited)
I think for $2000 off the price of the vehicle we would have saved about $40 a month. If the .9% wasn't available for 60 months at the time we could finally get the van at the better price, then the savings was going to be negligible. Plus, inventory in my area is so scarce and I called at least 40 dealers in working the deal. Believe me.. no one was dealing on price and so I can't imagine pricing being much better for at least a year.

Why do you think the van depreciated a lot? Our first held its value well which is why I was able to get someone to buy me out of my lease so early.

well, I think that would be good for me IF we do decide to trade the van.. :D

opppss, I just came to my senses. hmm, it was actually a question IF the van depreciated a lot.. BUT since you we're leasing back then; it was a wrong question.
 

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We bought the Ody, .9 financing is almost free money. I have leased a few vehicles and owned a few vehicles and I honestly don't know which is better. Most of my recent vehicles I have only kept for 3 - 4 years and I probably would have been better off leasing. We plan on keeping the Ody for as long as possible and my target is ten years, so of course financing is a no brainer.
 

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I've never personally leased a car, but I sold cars one summer when I was in college so I've seen the deals from the other side. We used leases to shoehorn people into cars they couldn't afford, and when the cars were being turned in, I never personally observed one that didn't have a mileage overage. This is due, I assume, to being in Texas, which is a fairly high-mileage state, overall. Only being there 3 months, I never recieved any of my own lease deals back on trade, but I recieved many from 2-3 years earlier from ours and other dealers, and they all looked similar. 10K-12K mile leases written with payment as the primary factor, in a state where the average distance driven per year is 18K, with a $.10-$.25 charge PER MILE over the lease.

On the other hand, I have a friend that leases cars for his wife, and probably comes out ahead because of it. He wants her to have a new car often, so he does 24 month leases with a 12 month buyout, meaning that as long as he is entering another lease, he can trade at 12 months with no penalty. So, she gets a new car every 12 months, and because she is a stay at home mom, the car has low mileage.

If it matters to anyone, I sold Hondas, which tend to lease very well due to the high residual.
 

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Company lease. We write off 100% of the lease cost plus the difference in the interest rate between lease and purchase. The end value is fixed so we know what the van costs us over 3 years and when the 3 year lease is up, if we beat the residual we can buy it out and sell it (reducing the cost of "ownership"). If the residual is higher, we can walk from the van and get a new one.

I think leasing is best for people who: (1) Like to change vehicles frequently, (2) drive moderate annual mileage (3) have a tax advantage to lease payment deductions, (4) want to drive a car that they otherwise wouldn't be able to afford (lease payment is on the value the vehicle will depreciate with interest on the total value vs payments based on the full value of the vehicle plus interest on the total amount financed, or (5) don't want to tie up capital that could otherwise be used to create profit (business or investment).

Some of our company vans have been purchased in the case where we knew the mileage would be high and the purchase interest rate was very low. For several years we bought Dodge Ram vans and Caravans with 0% purchase financing from the factory. In other cases, we leased Dodge Ram 3500 vans at 0% lease rate (Factory offer) and had the dealer set the mileage allowance at 36,000 miles a year. This drove out a residual of a few thousand dollars after 3 years and we bout the vans at lease end. It was the best of both worlds: zero interest costs, 100% write off in 3 years and a van we kept on the road for 6 years.

For personal use, leasing may be more expensive and I agree that a financial consultant wouldn't recommend it. For business use, I think leasing makes sense in many scenarios.

I like to change vehicles every few years so I lease. It removes the headache of looking for a buyer and depending on the time of year you try to sell, you might run into factory promotions which you can't compete against with your used vehicle and the value drops. For example, try selling a GMC pick up during the annual "Employee Pricing Event" that combines with low interest rates. The same guy going to the bank to finance your 3 year old vehicle might be paying 75% of the cost of buying a new one.
 
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