The 2017 Honda Odyssey will be undergone a complete redesign and will be on sale later this year, therefore currently Honda dealership are offering huge discount on in-stock 2016 Odyssey to clean up the old inventory.
Among the 2016 Odyssey’s 8 trims, the EX-L trim has the best value from my point of view. The major reason is the leather-trimmed seats, which is only available starting from the EX-L trim, is extremely useful if you have kids (kids = messy and dirty seats). In addition, the EX-L is also packed with enough features that are necessary for most families.
For 10,000 miles/yr, the current lease term for the 2016 Odyssey EX-L is:
Residual Value = 57%; Money Factor = 0.00041
2016 Odyssey EX-L’s MSRP is $36,950, some dealerships are willing to settle the sales price at around $31,000 now.
Use our Lease Calculator, input the following parameters (click the below image to launch the Lease Calculator):
MSRP: 36,950
Negotiated Price: 31,000
Taxable Incentive: 5400
Acquisition Fee: 595
Residual Value: 57
Term: 36
Money Factor: 0.00041
Dealer Misc Fee: 80
Government Fee: 300
Tax Rate: 8
Then click “Submit”, the following is the calculation result:
Our lease deal standard is:
- Monthly payment > 1% of MSRP: only take this deal when you really like that car;
- Monthly payment ~ 1% of MSRP: a deal which is lukewarm;
- Monthly payment ~0.9% of MSRP: a good deal worth your money;
- Monthly payment ~0.8% of MSRP: I will take the deal in a heartbeat;
- Monthly payment ≤ 0.7x% of MSRP: go to sign the contract now!
The Odyssey has one unique feature that worth mentioning: you can install 3 convertible child seat side by side in its 2nd-row seat, or comfortably seat an adult and fit another 2 convertible seats there, therefore saving the 3rd-row seat for cargo space. Therefore, if Odyssey is the minivan that fits your needs, now leasing the EX-L trim with $37k MSRP for around $320/month is absolutely a steal.
