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Honda Pilot Lease Questions

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  • Here you go, arob1. Honda Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX 2WD with 12,000 miles per year are .00139 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi jessekac. Honda is providing lease support on the 2011 Pilot, but not on the 2010 model any longer. If you really want to lease one at this point, you probably would be better off going with a '11.

    You can scroll back through the past several posts to see what the current program is like on this truck.

    Good luck and let us know if you have any other questions.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • My lease is up in Feb on my wife's 2008 Pilot EX-L w/nav. The residual on it is $18,700. According to edmunds, the trade-in value on it is 24,000. I recently received a voicemail from my dealer saying they'd love to take it back and get me into a new vehicle. I called back and left them a message saying I'm not interested in a new vehicle, but would they be interested in buying it for $24K and have not heard back. If a dealership is interested in doing this, am I going to have to go through the headaches of getting a loan, buying the vehicle at the end of the lease, then selling it to the dealership (who may back out), or will the dealership if interested have some way of making this process easy?
  • arob1arob1 Posts: 32
    edited November 2010
    Thank you car_man. I leased the same car for $425/month with $0 down. Sign and drive. It also came with Cargo tray, Tinted Front Windows,Door edge guards,Wheel locks,Fender wheel trim,Hand painted pin stripes,Nitogen upgrade in tires, all included in that price. How did I do ?
  • Hi Car_Man, and thanks. Sorry to be a pest, but have these numbers changed at all for November? (looking for 2011 EX 4WD/12K) Have there been any rumors of a really fantastic leasing inventive coming soon, say by year end, or in January? (because I don't have to re-lease right now... happy to wait!)

    Last question: how likely do you think it is that the dealer will actually let me use the equity in my '08 VP towards the '11? (roughly $4K)

    Meeting with the salesman this weekend...would like to have my plan in hand...

    Thanks for your time and advice! ;)
  • Just got back from the dealer and was quoted the following for a 2011 Honda Pilot EX-L. For some reason I feel like something is matching up based on what I've read here:

    Market Value: 34,775
    Sale Price: 31,032
    Term: 36 months
    Money Factor: .001390
    Res Value: 56%
    Taxes: 6.5%
    Dealer Fees: $902
    Down payment: $0
    Monthly payment: $483

    According to other posts it seems like the residual from Honda finance should be 57%. I could be entering something wrong, but I feel like the monthly payment is just a tad high. I'm in FL if that makes a difference. Thoughts?
  • "It also came with Cargo tray, Tinted Front Windows,Door edge guards,Wheel locks,Fender wheel trim,Hand painted pin stripes,Nitogen upgrade in tires, all included in that price. How did I do ? "

    Nitrogen upgrade??? for real???
  • arob1arob1 Posts: 32
    yes, I was told they use Nitrogen so tire pressure does not fluctuate with temperature change
  • Not a problem, ayalakay. Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX 4WD with 12,000 miles per year are .00139 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    This program is supposedly going to run through the end of the year. I doubt that Honda's January program will be any better than its current one, but it's difficult to say for certain what will happen.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • stevz13stevz13 Posts: 1
    edited November 2010
    I am very close to leasing a 2011 EX-L with Navigation. Unfortunately we had a fallout with the salesman becasue of his reluctance to answer my questions honestly. To make a long story short the sales manager intervened and has offered me $475 mos for 36 months, 2k down for 12k miles. Just wondering what the residual and money factor are on this model.
    Thanks
  • I was quoted 482.22 for 36 months and 470.34 for 42 months w 595 bank fee and 1st month at closing.
  • Hi stevz13. I certainly can understand your frustration with not being given straight answers to your questions. Dealing with the wrong type of salesperson can be frustrating.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L with Navigation and 12,000 miles per year are .00139 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jpnutjpnut Posts: 2
    Hi guys, new to the forum. Got quoted $446 +tax for 4WD EX. 36 months. 12k miles/yr. 280 due at signing. 35 monthly payments. Seems like your offers are way better. Here in Cincy.
  • jpnutjpnut Posts: 2
    Hi Jesse, thanks for the post! I was considering doing my business in NJ. This was very helpful. I wonder in two months if much has changed at all concerning the pricing you got?!
  • mariasmarias Posts: 9
    edited November 2010
    I have a 2008 Honda Pilot exl-res with less than 29,000 miles. The lease is up on 12/27, last payment is on 11/27 and buyout is $17,290. I am looking to trade it in for a 2011 Touring, with nav and dvd. List is about $40,000.00. What should I be looking to pay for a 36 month lease 12k per year. I just received a notice from one of the local dealers that they will pay "up to 70%" of the original MSRP, but have not checked it out yet.
  • Hi again,

    I had a brief conversation with my dealer about the next Pilot and mentioned the equity I have in my current model. He pretty much scoffed at me and said they have to 'recondition' my car before they can sell it for 'trade in value'. I have checked various places and it looks like I should have anywhere from $2-6K in equity! But he made it sound like I'll get nothing, and should be glad they'll even take it off my hands.

    (I love the car and it only has 25K miles on it... if I didn't hate the color I might even buy it and be done with leasing - I really detest this whole process.)

    Anyway, the question is, what happens to that roughly $1,500 in 'forgiveness' for wear and tear that is covered by Honda under my lease? If my dealer spends, say, $1,000 to clean the one back seat that has a water spot, touch up a tiny ding, and put on a set of tires, do they bill Honda for it? Or do they just get a check from Honda for the entire $1,500? If that's the case, shouldn't I then be able to force the equity issue since the cost of their 'reconditioning' is already covered?

    any insights would be appreciated...
  • The car doesn't belong to the dealer, it belongs to Honda Finance...

    Honda doesn't give anyone $1500 or a portion to recondition the car... The cars generally go to auction, as is... If your dealer happens to buy the car from Honda, then he'll pay wholesale (which would be adjusted for any major items, like those covered by the $1500).

    There really is no "$1500" in actual cash... It's a phantom amount that Honda Finance would forgive, if you actually ran up those charges...

    The dealer's argument is that even if they get the car for way less than you think it's worth, there isn't that much profit in it, once they recondition it, etc... They may be right, or they may not want to share that profit with you.. The only way you'll know is to shop your deal around, letting the other Honda dealers know that you want to unlock some of that supposed equity to save money on your next deal...

    Moderator - Prices Paid, Lease Questions, SUVs

  • Ah, I get it... thanks for clearing that up for me! (the battle begins... )
    ;)
  • I just returned from Braman Honda in Miami. I had one payment left on my 2008 Honda Pilot exl-RES, 28,925 miles, with tow package, front bumper lower garnish, tubular running boards and cross rails. I was able to trade it in, using the equity (buyout was $17,728) to get a fully loaded Touring (without the running boards or cross bars) in a 36 month leasing deal of $1,000 down (which included the first months payment) and $463 per month ($499 per month with taxes) They said that they would give me $21,000 for the old car, using a portion of that to buyout the car from AHF, using the excess equity to pay down the new car. Money
    Factor was .00139 and residual value was 52%.
  • dk101dk101 Posts: 3
    Hi Car man,

    Could you please give me the current money factor and residual value for a 2011 Honda Pilot, 2WD, EX-L, with 12k miles, and 36 months? And, how does this change with 15k miles?

    Also, what is your sense about which models have the higher residual percents? is it the entry-level models, or the top of the line models with all the bells and whistles? Does this roughly track real-world value at lease end?

    Thanks in advance for your advice! I'm so glad I found this forum -- it really makes this whole process a lot more transparent.

    DK
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