Is It Dumb?

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Is It Dumb?

Postby jennelled » Tue Dec 26, 2017 10:25 am

I am 95% sure I'm upgrading my van in the next couple of days - the prices they're offering to get inventory off the lot are stupid low, and I'm pretty pumped about the features on the 2018 Odyssey. I have a 2016, so I feel like such an entitled princess for this completely frivolous purchase...but I lease, so I have to do something by the beginning of November anyway. And the price is seriously so good!

Anyway. They came out with a new color called Pacific Pewter that only comes with a Mocha interior. I haven't seen it in person, but it looks nice online. But I missed my chance to buy one of those at the good price, so my other option (which was originally my first choice!) is the Deep Scarlet Pearl with Beige interior. Y'all know I'm obsessed with maroon so this color really IS right up my alley...but it's also the color combo on my current van. I feel kind of ridiculous buying the exact same car again. But I love the car!! And the color!! :dontknow:
Jennelle: wife to Matt 06.07.08, mom to Audrey Grace 02.05.12, Clara Rose 08.06.14, and Corinne Elise 09.24.17
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Re: Is It Dumb?

Postby Leann » Wed Dec 27, 2017 3:43 am

I don't think it's dumb - you know what you like!
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Re: Is It Dumb?

Postby Mary K » Wed Dec 27, 2017 11:01 am

If you're in a position to do it, then do it. Life's short--do what makes you happy! :good:
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Re: Is It Dumb?

Postby LizAnn » Thu Dec 28, 2017 9:11 am

I don't think it is dumb at all. I am on my 3rd Equinox... They haven't all been the same color, but close... And they would have all been the same color had that color been available!

Are you leasing the new one? I am seriously considering a lease for our next car.
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Re: Is It Dumb?

Postby jennelled » Thu Dec 28, 2017 9:47 am

LizAnn wrote:I don't think it is dumb at all. I am on my 3rd Equinox... They haven't all been the same color, but close... And they would have all been the same color had that color been available!

Are you leasing the new one? I am seriously considering a lease for our next car.

Well, I did it! I love it, although it will take a bit to get used to some of the differences. I thought Matt was going to kill me, though - as we were loading up the girls to leave, I noticed that the second row vents are not in the ceiling. Y'all. If you recall the Great SUV Search of 2017, that was one of our top requirements (air flow for RFing kids!!), and here we were, already purchased a van with no ceiling vents. :laughing: It's not ideal, but I wasn't open to any other van anyway so it is what it is. And Matt's already eyeing a Yukon XL or Suburban. :roll: Men!

Yes, we lease my van (but we own Matt's Acadia). We looked at it a thousand different ways, and for what we wanted leasing makes more sense than buying. Honda Odysseys hold their value incredibly well, which helps the lease come out in favor - but one of the biggest factors is how long you reasonably expect to drive the car. Everyone says that they're going to buy it, pay it off, and drive it for several additional years, but realistically that is not what most people end up doing. They decide they need something bigger, or with better gas mileage, or whatever, and they end up trading it in before the term of the financing is up or right after. And sometimes (this happened to me!), you pay it off, intend to drive it several more years...and then it gets totaled. Womp womp.

With a lease, your payments are lower because you're only paying for the portion of the car's useful life that you're using. And you know all the details up front - at the end of my 36 month lease, my Odyssey will still have 61% of it's original value, and I can buy it outright for that price if I want (or drop it off and walk away, or drop it off and get a lease on a new one). So my payments are the negotiated price of the car x (1 - 0.61) / 36 payments and I'm only paying for the depreciation of the car while I have it (plus some financing charges, of course). Also, you shouldn't put money down on a lease. If it's totaled then you're just out that money. It makes more sense to pay the full monthly payment.

The main drawback of the lease is that miles are limited, typically to 12K/year. I was going to be over and would have had to pay the mileage charge of 20 cents/mile, but avoided that by trading in early. The dealership said most people trade in between 26 and 30 months.
Jennelle: wife to Matt 06.07.08, mom to Audrey Grace 02.05.12, Clara Rose 08.06.14, and Corinne Elise 09.24.17
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Re: Is It Dumb?

Postby k.linn » Thu Dec 28, 2017 7:11 pm

I really love the look of the new odysseys! I have a 2012 that I’ll be driving forever (audrey thinks I’m joking that I’ll save it for her—it’s a definite possibility :laughing: ). We are researching new cars now. P has a GMC Sierra, which he loves, and his work upgraded him to when we had H and couldn’t fit 3 car seats in his Jeep, and it’s SO spacious (but can’t seat 4 kids). He works in the construction field, so that’s proven most difficult (as he wants something still decidedly manly with plenty of room for hauling if need be). A Yukon XL is our front runner. They just seem so big! Technically they’re shorter than his current truck, so he assures me it’ll be an easy adjustment. We’ll see!
Kim: wife to Phil (07.01.06) and Mama to Audrey, Micah, Hadley, and Malachi.
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Re: Is It Dumb?

Postby LizAnn » Fri Dec 29, 2017 11:33 am

k.linn wrote:I really love the look of the new odysseys! I have a 2012 that I’ll be driving forever (audrey thinks I’m joking that I’ll save it for her—it’s a definite possibility :laughing: ). We are researching new cars now. P has a GMC Sierra, which he loves, and his work upgraded him to when we had H and couldn’t fit 3 car seats in his Jeep, and it’s SO spacious (but can’t seat 4 kids). He works in the construction field, so that’s proven most difficult (as he wants something still decidedly manly with plenty of room for hauling if need be). A Yukon XL is our front runner. They just seem so big! Technically they’re shorter than his current truck, so he assures me it’ll be an easy adjustment. We’ll see!


We have a Yukon XL and LOVE it! It can fit full sheets of drywall in the back if you take the third row out (and I think flip the front ones forward. But it was really nice to not have to borrow a truck! Also, would definitely fit 4 kids! Ours was actually a company vehicle that they sold off once they upgraded everyone to new ones. It is so nice to be able to fit lots of people AND stuff in it! We often have my MIL, two cousins, our kids, us, a stroller and hockey equipment, and still have room for one more person and more stuff! Honestly, I don't know how we shopped at Costco before we had it! :laughing:
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Re: Is It Dumb?

Postby LizAnn » Fri Dec 29, 2017 11:36 am

jennelled wrote:Well, I did it! I love it, although it will take a bit to get used to some of the differences. I thought Matt was going to kill me, though - as we were loading up the girls to leave, I noticed that the second row vents are not in the ceiling. Y'all. If you recall the Great SUV Search of 2017, that was one of our top requirements (air flow for RFing kids!!), and here we were, already purchased a van with no ceiling vents. :laughing: It's not ideal, but I wasn't open to any other van anyway so it is what it is. And Matt's already eyeing a Yukon XL or Suburban. :roll: Men!

Yes, we lease my van (but we own Matt's Acadia). We looked at it a thousand different ways, and for what we wanted leasing makes more sense than buying. Honda Odysseys hold their value incredibly well, which helps the lease come out in favor - but one of the biggest factors is how long you reasonably expect to drive the car. Everyone says that they're going to buy it, pay it off, and drive it for several additional years, but realistically that is not what most people end up doing. They decide they need something bigger, or with better gas mileage, or whatever, and they end up trading it in before the term of the financing is up or right after. And sometimes (this happened to me!), you pay it off, intend to drive it several more years...and then it gets totaled. Womp womp.

With a lease, your payments are lower because you're only paying for the portion of the car's useful life that you're using. And you know all the details up front - at the end of my 36 month lease, my Odyssey will still have 61% of it's original value, and I can buy it outright for that price if I want (or drop it off and walk away, or drop it off and get a lease on a new one). So my payments are the negotiated price of the car x (1 - 0.61) / 36 payments and I'm only paying for the depreciation of the car while I have it (plus some financing charges, of course). Also, you shouldn't put money down on a lease. If it's totaled then you're just out that money. It makes more sense to pay the full monthly payment.

The main drawback of the lease is that miles are limited, typically to 12K/year. I was going to be over and would have had to pay the mileage charge of 20 cents/mile, but avoided that by trading in early. The dealership said most people trade in between 26 and 30 months.


Thank you for the info! I am definitely going to look into leasing next time around. We always think we are going to pay something off and drive it forever, but we haven't had good luck recently. Two cars have been totaled in the last 5 years!
We will see how long these last!
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