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I realize that the majority of Odyssey drivers on this site own their van but does anyone have any leasing experience on a new 2002 EX-L w/ DVD?

Due to the fact that he residual is pretty high on this vehicle I would think that the leasing rates are pretty good. Anyone?
 

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Another member turned me on to www.leasecompare.com

You will find that the residual after 3 years is calculated at about 55% - a joke but as I've said before, bankers gotta eat. I've noticed that the depreciation rate increases substantially in year 4 which is conincidentally when the warantee period is up.

Hope it helps.

Dave

If you belong to a Credit Union call them to check out MAPS financing - a hybrid of a lease and a balloon loan.
 

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I have a lease on 02 Ody EX-L
Can't definately say about the residual on the Navi or DVD models (probably 60%), but the EX-L has 62%. The interest on Honda leases is 6.24%. I'm paying here in NY 438/month including taxses.
 

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Hi, would you tell me which dealership did you get your lease? I will be leasing mine from Hillside Honda.

<font face="Verdana, Arial" size="2">Originally posted by ayaros01:
I have a lease on 02 Ody EX-L
Can't definately say about the residual on the Navi or DVD models (probably 60%), but the EX-L has 62%. The interest on Honda leases is 6.24%. I'm paying here in NY 438/month including taxses.
</font>


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By the way, what options did you get and what is the final price of your Odyssey?


<font face="Verdana, Arial" size="2">Originally posted by ayaros01:
I have a lease on 02 Ody EX-L
Can't definately say about the residual on the Navi or DVD models (probably 60%), but the EX-L has 62%. The interest on Honda leases is 6.24%. I'm paying here in NY 438/month including taxses.
</font>


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If any of you have never leased before just like me, you can check into edmunds.com. First of all, learn how to figure the lease payment yourself in the 'advise' section, then go to the 'townhall' section, click the 'finance,warranty & insurance', then click 'lease question-ask here'. In there you can ask and read all the questions, the host is very good and fast at responding questions. I learned and asked everything over there about leasing and finally, armed with all the info, I went to the dealer and negotiate with confidence.
As far as for the Ody's, check Msg #1936 over there or here is the link:http://townhall-talk2.edmunds.com/[email protected]^[email protected]/1985
Hope this helps.
 

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Another good thing about that site is: the host works in the auto leasing industry, he always has the latest residual value and money factor for almost all brands and models of vehicles. All you have to do is to ask.
 

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Is that just MSRP plus destination charge? Did you shop around for the best price?

<font face="Verdana, Arial" size="2">Originally posted by ayaros01:
Staten Island Honda. The negotiated price was $28558 witn no extras. Just EX-Leather.</font>


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Is this a 36 months/36000 miles lease or 48 months/48000 miles lease?


<font face="Verdana, Arial" size="2">Originally posted by ayaros01:
Staten Island Honda. The negotiated price was $28558 witn no extras. Just EX-Leather.</font>


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Congrats at 62%! That's really good though I guess the -L part of EX-L may be a real factor. I couldn't put that in my calcs. My local dealer (whom I'm not using) said his "never fails" computer came up w/55% as the best available rate among 12 sources. www.leasecompare was the same.

Glad I was wrong!
 

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This lease is 12000 miles / 36 months
You really shouldn't take any lease for more than the warranty covers. The price is the Cap Cost - the price of the car ( if you were to buy it ), i believe it also includes 440 destinantion charge. I ended up paying out of pocket around $2000 at lease signing which includes ( $438 - first payment, ~$500 - security deposit, $500 bank fee, DMV fees, and about $400 for cap cost reduction)
There are many programs/sites that will accurately calculate lease payments. If you have Palm Pilot or WinCE handheld you should download the program from http://www.download.com that toes lease calculations. I'm using one that's called "Lease-It!" for Palm. Otherwise just use this formula :

RESIDUAL VALUE = RESIDUAL FACTOR x MSRP

MONTHLY DEPRECIATION FEE = (CAPITALIZED COST - CAPITALIZED COST REDUCTION - RESIDUAL VALUE) / LEASE TERM

MONTHLY LEASE FEE = (CAPITALIZED COST - CAPITALIZED COST REDUCTION + RESIDUAL VALUE) x INTEREST RATE / 2400

TOTAL MONTHLY LEASE PAYMENT = MONTHLY DEPRECIATION FEE + MONTHLY LEASE FEE
 

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If you go to www.honda.com, you can see that total due at signing should only include a refundable security deposit of around $450 and the first month payment. It doesn't say anything about bank fee, DMV fee. It also says the CAP Cost Reduction should be 0. Did you tell the salemen about this?


<font face="Verdana, Arial" size="2">Originally posted by ayaros01:
This lease is 12000 miles / 36 months
You really shouldn't take any lease for more than the warranty covers. The price is the Cap Cost - the price of the car ( if you were to buy it ), i believe it also includes 440 destinantion charge. I ended up paying out of pocket around $2000 at lease signing which includes ( $438 - first payment, ~$500 - security deposit, $500 bank fee, DMV fees, and about $400 for cap cost reduction)
There are many programs/sites that will accurately calculate lease payments. If you have Palm Pilot or WinCE handheld you should download the program from http://www.download.com that toes lease calculations. I'm using one that's called "Lease-It!" for Palm. Otherwise just use this formula :

RESIDUAL VALUE = RESIDUAL FACTOR x MSRP

MONTHLY DEPRECIATION FEE = (CAPITALIZED COST - CAPITALIZED COST REDUCTION - RESIDUAL VALUE) / LEASE TERM

MONTHLY LEASE FEE = (CAPITALIZED COST - CAPITALIZED COST REDUCTION + RESIDUAL VALUE) x INTEREST RATE / 2400

TOTAL MONTHLY LEASE PAYMENT = MONTHLY DEPRECIATION FEE + MONTHLY LEASE FEE
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Yes and No. I know that the bank fee is probably just another way to make more money on you, but while I was looking for the car I've visited and called quite a few dealerships in the Tri-state area, every dealer I talked to said that the bank fee is a must when you lease fom Honda ( sort of like the closing costs for your mortgage ).
Any way the price I got was the lowest around at the time, and ok for me. The car is great. I wish you luck in your negotiations. It would be interesting to know your final numbers. Please post them here.
 

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I haven't really talk price with my saleman yet but he said it is $28,250 plus whatever options I want for EX-L which is MSRP. I didn't ask him the detail of the final cost. I hope he knows about this site and is smart enough not to screw me. I will let you know of my experience with them. By the way, did you also call Hillside Honda before you went with Staten Island Honda?


<font face="Verdana, Arial" size="2">Originally posted by ayaros01:
Yes and No. I know that the bank fee is probably just another way to make more money on you, but while I was looking for the car I've visited and called quite a few dealerships in the Tri-state area, every dealer I talked to said that the bank fee is a must when you lease fom Honda ( sort of like the closing costs for your mortgage ).
Any way the price I got was the lowest around at the time, and ok for me. The car is great. I wish you luck in your negotiations. It would be interesting to know your final numbers. Please post them here.
</font>


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How long did it take you from the day you ordered your Odyssey to the day you picked it up? I ordered mine at mid August. My salesman said it should be here by mid November. He said it takes longer for Red Rock Pearl.

<font face="Verdana, Arial" size="2">Originally posted by ayaros01:
No I did not.</font>


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Paying $ 367/mo on 02LX ; put $ 2,500 down ; three years / 12,000 mi. No security deposit. Going thru Honda Lease not bank.
 
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