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Honda Pilot Lease Questions



  • Actually I think i made a mistake: If residual goes down the monthly payment will increase. Sorry. if you have a chance please respond to my other questions.

    thanks again
  • Dont mind me again. I looked it up: Title and registration would run about the same amount they've quoted me.
  • milzomilzo Posts: 8
    Very thankful I found this forum. With all of your input/ feedback I hope not to leave any money on the table. That said here is where I am at.

    2009 Pilot EX-L (no res), Cleveland Ohio, 7.75% sales tax.
    MSRP = $35800
    Invoice = $32500
    Sell = $32500 - $1250 (rebate) - $250 (extra discount) = $31,000
    Down pmt = $550 (includes all fees)
    Pmt = $481 per mo including tax for a 36 mo lease.

    The salesman is a friend of the family and stated this is the lowest he can possibly go. After reading other posts I am thinking its still $30-$40 a month high.

  • I'm going to lease a 2009 Honda Pilot EX-L 4WD with RES + the running boards with lights. When I ask for all of the details such as the cap cost, money factor, dealer cash, residual value, etc. how do I know what the invoice price is? Is there a way to find out the invoice price so I know I'm getting a good deal? I live in the Princeton, NJ area. Are leases going for invoice, above invoice? Thanks, Scott
  • bigdadi118bigdadi118 Posts: 1,207
    2009 Pilot 4x4 EXL with RES, before Dest Charge $670.00

    MSRP: $36,795.00
    INV...: $33,324.00

    Running Board (different kinds) is option, 50% of list price is the invoice roughly.
  • Hi Milzo,

    i think your family friend can do better :-) here is a breakdown from my spreadsheet based on your numbers:

    Step 1: Calculate the Capitalized Cost
    Vehicle Selling Price: $31,000
    Down-payment $0
    Total: $31,000

    Step 2: Calculate Vehicle's Residual Value
    MSRP: $35,800
    Residual: 51%
    Total: $18,258

    Step 3: Determine Vehicle's Total Depreciation
    Residual - Cap Cost: $12,742

    Step 4: Determine Vehicle's Monthly Depreciation
    Lease Term in Months: 36
    Total: $354

    Step 5: Determine Interest Charges
    Money Factor: 0.00110
    Total: 54

    Step 6: Calculate Monthly Payment
    Total Pre-tax Monthly Payments $408
    Sales Tax Rate: 7.75%
    Taxes per month: $32
    Monthly Payments+Tax: $440

    Hope that helps
  • Thank you for this, I think by using your calculation I figured my Car Dealer includes my Liceses and Doc Fees into my lease, but also says it's due at signing.

    Also, Are fees like (Doc, License, CVR) these figured into the whole Capital Cost of the car?? Or should they be added at the end???

    Maybe I should just pay those up front, and be sure not to get double charged.

    Anyone know what a CVR Filing fee is??

    Thank you!
  • milzomilzo Posts: 8
    Thank you very much for taking the time to spell it out. I knew that was about where it should be but didn't know how to do the calculations. Thanks!
  • Here is what Mike Piazza Honda in PA just offered me and it's better than several other places. Is this a good deal or can I get better, and by how much?

    3 yr/36,000 miles
    $1,000 out the door
    $488 per month lease

    Base invoice = $33,979
    Vehic price = $32,529
    ACQ Fee = $595
    Cash Reduc = $289
    Net Cap Cost = $32,834
    Resid % (book) = 48%
    Resid % (net) = 50%
    Resid $ (net) = $18,732
    Frt-End Profit = -$1,750 (it appears to be a negative)
    Reserve Profit = $200
    Total Profit = -$1,550 (it appears to be a negative)
    DMV Fees = $186.45
    Initial Payment = $1,000

    Can I do much better than this? An extra $5 here and there aren't going to make a huge difference and not worth the extra time. Thanks
  • Does anyone have any feedback on a lease for a new Honda Pilot EXL-RES-AWD.
    Below are the most recent terms from the dealer. They still seam high so I'm curious whether anyone has any insight.

    $37,465.00 - MSRP
    $32,812.00 - Selling Price
    $900.00 - Down Payment
    $17,983.20 - Residual 48%
    15,000 - miles per year

    $482.17 + 7.75% tax = $519.54 per month for 36 months
  • I have a 2006 Pilot EX coming up for return in Feb 09. I called a LI dealer who advertised a 2009 EX Pilot $299 a month for 36 months, $0 down Tax, Title, First month payment , Bank fee $295,Destination fee $695. I called and this is the vechicle I am interested in . I see from some posting that the destination fee seem to be a duplication and maybe the dealer uses this for margin dollars?. The dealer says that he has cars for this, should I waste my time and go there , and since I have 3 months left on my lease will they buy that remaining lease to lease the new one . How despirate are dealers today ? or do I wait till January / Febuary? I am expecting that this deal woul have about a total of $2,500 down
    Thank you for the input.
  • bigdadi118bigdadi118 Posts: 1,207

    2009 Pilot 4WD EX-L w/RES
    36 Months Term
    15,000 Annual Mileage

    $471.60 before tax
    *Lease Summary: Required Refundable Security Deposit $475.00, 1st Monthly Payment $471.60, Esimated Selling Price $32,812.00 Capitalized Cost Reduction (down payment) $900.00 to equal an estimate total of $1,846.60 due at lease signing.
  • citivascitivas Posts: 144
    Scottband, I live near Princeton and got an '09 Touring 4WD w. RES in late August. I ended up using this site and several others to get internet quotes and that helped the dealers get way more competitive that they were being in-person. I ended up buying from Academy Honda in Old Bridge about a 30 minute drive) because they were much more copetitive. Though ironically after the purchase the Princeton dealership emailed me with a competitive counter quote but they were way too late and they should have just been competitive up-front when I was in for a test drive or when I first got their online quote...

    Good luck.
  • citivascitivas Posts: 144
    Car_man, what is the current Honda money factor and residual value for a 36 month, 12K/year lease with for a 2009 Pilot Touring 2WD withOUT RES?

    I am helping my friend close a deal and this is what they are looking for. BTW, I got mine (4WD Touring w/ RES) in late August and the residual was 52% at the time. Below 50% early in the model year seems low. Are all the SUV brands residuals going down like this are are their any still offering a strong residual right now?

  • How did you compute 54 in Step 5?
  • golicgolic Posts: 714
    I don't know if this has been discussed recently. But my philosophy has always been to put zero down on a lease. Other than of course, your standard fees, etc.

    In essence, two things are occurring with a down payment. First, you are making a large prepayment that is not necessary. Why put $2,500 down today, when you can spread that $2500 out over 36 months?

    Second. Extreme example - but this best illustrates my concern. You take your shiny new leased vehicle, drive off the lot and two weeks later you total the car. The good news is - the lease company is taken car of, since GAP is usually built into either the lease or the insurance, the car dealer is happy, since now they not only have one sale, but possibly two. And you, well - guess what your $2,500 down payment is gone - no insurance recoupment, nothing, zilch.

    something to consider....anyway, I am back at reading the board, my 05 Pilot is coming off lease and I was disappointed to read consumer reports discussion on it in the November issue. So looking forward for you all to educate me on the 09 Pilot pricing...
  • Its the Cap Cost ($31,000) plus the Residual ($18,258) times the money factor (0.0011).
  • Hi, I have been reading through these forums and they are very helpful.

    I was hoping that someone can take a look at a quote I got for a 2009 Honda Pilot EX-L w/RES.
    MSRP $37,465 Risidual 48%
    Invoice $33,980 Money Factor .00110 or 2.64%
    Promotion -$1,250 15,000 Miles
    Hold Back -$600 36 month lease
    sale price $32,130

    With a down payment of $1,026, my monthly payments will be $499.54 per month

    Do you think this is a competitive quote? Can I get a better deal? What can I negotiate if anything?

    Thanks for the time to read this. Any help or comments are apprecaited and welcomed.

    PS - not sure if this makes a difference but I live in Northern NJ....
  • golicgolic Posts: 714
    Car man:

    Would you be so kind as to provide the current residual % and money factor for a 36 month lease on a 2009 Pilot EX-L AWD, with 15K miles (is it still a 2% change for 12K on the residual?) I am located in the chicago market.

    I am coming off a lease of a 2005 Pilot - is there any Honda Loyalty promotion? Do you think there will be any significant changes to January numbers versus December?

    Thanks in advance...
  • There is a leasing company that has a deal with my job that gave me a quote for a 36 month lease on a 2009 Honda Pilot EX-L AWD, 12,000 miles per year. Unfortunately, I didn't get the residual, money factor, etc... for the car, but here is what I did get:

    $399 a month for 36 months. Due at signing would be:
    - $1251 sales tax
    - $595 bank fee
    - $399 first month
    - DMV fees

    This seems like a pretty good deal. The salesman said that he might be able to get the monthly payment down an additional $5-$10 depending on how the dealership is moving cars. If it's the end of the month and they are looking to make their number, I should get a better deal.

    I'm thinking about taking the deal but I'm not sure if I should maybe wait until January to see if the deals get better. Any thoughts?

    Thanks in advance,

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