Is this a good deal on a Honda Odyssey lease?

[mikieguns]

Point taken about if the car gets totaled. I'll def consider that and look more into it. But I felt I had to address all the unwarranted claims about money not being saved here with this lease offer. Thanks.

[Henry10]

Originally Posted by mikieguns

Consider these facts: If I did a no money down, no trade in lease with this car, I would spend over $9,000 more dollars on monthly lease payments over the next 3 years! Those of you that are suggesting to go down this route are simply not doing the math. If you add in the $2K worth of work the Nissan immediately needs, now we're talking $11K out of my pocket, not to mention all the other future expenses that come along with having an additional owned car, let's go with $1,000 a year as a conservative estimate for gas and what not. So trading in the car for $5500 (only $500 less than KBB) saves me $14,000 over the next 3 years - YES PLEASE.

No one is saying keep the Versa. Quite the opposite, sell it now yourself. KBB based on Private Party, Fair condition (worst condition), the least optioned car, 4-door is $ 7,020.

List on Craigslist and/or Autotrader for $ 8,500, and see who bites / what you get.

You might be in a different state-of-mind and might be inflating the amount needed for the repairs. Put it out there and see what happens.

Use this $ 7,000-8,000 as downpayment for a 2011 Odyssey, about $ 20,000 total purchase price. And finance the $ 13,000 for about $ 200 a month.

At end of 3 years, you will have a $ 10,000 asset, while still paying $ 200 month.

With the lease, at end of 3 years, you will have a $ zero asset, and then you'll face a $ 400 - 500 payment, 'cause you will have no downpayment. Or you'll take that $ 10,000 from your Kids education or your Vacation fund, and put it towards another car, so you could pay $ 200/month.

[mikieguns]

KBB says 6K for the hatchback model I have but mine is not in good condition. I see your point though.

[Marc Paolella]

Originally Posted by mikieguns

Point taken about if the car gets totaled. I'll def consider that and look more into it. But I felt I had to address all the unwarranted claims about money not being saved here with this lease offer. Thanks.

Finally the wheels are starting to turn? The penetrant of logic has finally loosened the brainrust? Better late than never. Leasing is a sucker play, and leasing with a down payment is such a bad move that to entertain it is to damn oneself to the realm of the rain men.

[mikieguns]

Lol ok Marc. As long as your wheels are starting to turn too by acknowledging the thousands of dollars of savings with this lease deal , assuming the car doesn't get totaled. : )