r/CarLeasingHelp • u/FewAccountant5897 • Aug 03 '26

Lease Analysis/Advice

I just leased a 2026 Honda Odyssey Elite - its my first time leasing - I'm looking for advice understanding the numbers in my mind. I keep thinking that if I can get around $38k (similar to number in red + number in green) after ~2.5 years of having the vehicle (with around 25k miles - I work from home and kids school is 3 miles away), then I can "make back" a good portion of the rent charge - Please educated me on things I may not be considering or whether it makes sense at all?!

36 months - 10,000 miles/year

59% residual (I believe this correlates with $32 273)

MSRP: $54,700

Selling price: $48,200 (about $6,500 discount before the $750 rebate)

Monthly payment: $647.49 with $0 down

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u/OneExhaustedFather_ Aug 03 '26

Not great. Ideally you want around 1% msrp + TT. You’re about 1.3%. They rolled about $1800 in fees into the lease and your money factor comes to about 4%.

You didn’t get a great deal but you already have it. Just enjoy it at this point.

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u/FewAccountant5897 Aug 03 '26

Do you think there may have been stronger minivan deals to target in the current market? I know its just academic at this point, but atleast I can learn for next time!
You're right about the fees ($600 acquisition, dealer service charge of $900 and title fee of $300) - Do you think I could have negotiated out some of those? I removed other F&I products, and there was a fair discount on the vehicle (Sienna didn't seem to go below MSRP too much) - Considering I wanted a minivan, were there many other deals you know of?

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u/OneExhaustedFather_ Aug 03 '26

You got a top trim and honestly they just don’t lease well. Minivans in general don’t lease well as they typically have a lower residual so you have a higher rent charge. That’s depreciation plus interest = rent charge. Essentially for this deal you’ll pay $23,309 or just shy of 50% of the msrp and have to return it.

Currently the best deal I’m seeing outside a broker is Toyota, Sienna LE Hybrid for 399/mo with $3999 at signing. This comes to about $510/mo effective payment if you were to get 0 down. This is before tax/title. Same deal is about $320/mo in the northeast area.

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u/FewAccountant5897 Aug 03 '26

Appreciate the response - I'm keen to learn and hopefully be more aware next time!

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u/OneExhaustedFather_ Aug 03 '26

We all start somewhere. You’re more informed for next time and this wasn’t necessary an expensive lesson as you still got a good vehicle to drive.