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Honda Pilot Lease Questions

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  • bigdadi118bigdadi118 Posts: 1,207
    docscott1 - you can zoom in 150% after you downloaded the pdf file by clicking the link at bottom of ad. ... For details, download the PDF.

    If the ad says $0 down or trade, that means the special is good only by taking NO TRADE, very tricky. I don't understand it as they can make more money with taking the trade-in, but that's what they told me before, no trade in order to take this special deal.
  • ways to reduce monthly payments:

    1. more money down (not advised)
    2. larger dealer discount
    3. less annual mileage (although honda doesn't publish 10k annual mile leases)

    in your case, i'd wanna' see if the dealer(s) you're shopping will increase your discount, so you can put down less money. $2000 drive offs is kinda' high for a pilot. drives should be somewhere between $750-$1500 depending on dmv fees and whether or not you pay the lease acquisition fee upfront ($595), and/or if you're in one of those wacky states where you're forced to pay sales tax upfront.

    use that $1500 dealer cash to it's full advantage; meaning, try to get it all! god rule of thumb on 36 mo leases - for every $100 you get the dealer to knock off, assume ~$3/mo in savings on your payments.

    the key to an attractive lease would involve a high residual value (set by the bank), a low money factor (bank has a base rate, but dealer can mark up), and an aggressive selling price/capcost. in your case, the residual and money factor are as good as they can be. the selling price is very good, but definitely a little more money on the table tow work with. sometimes, 2 outta' 3 ain't bad.
  • first quote is at 515.00 a mnth. When I told the dealer thats not a good price that I am looking for 470.00 a mnth or less. and restated - NO MONEY DOWN. I will not pay cap cost reduction etc. I re-stated i will pay only taxes and dmv fees only upfront. So then dealer comes back with 468.00 a month - with 2500 upfront. Completley ignoring my STATEMENT of no up front money. Its amazing never can they just shoot straight and not play games. Its very frustrating when you tell someone exact plan for what you will pay. and then they twist it up.
    Based on all my work - i would think I can get 470.. a mnth - its quite aggressive but i think doable.
  • stoopystoopy Posts: 105
    Again, why lease if you can buy for about the same money. Plus the IRS will let you claim the sales tax on your 2009 Tax Return. I don't get it. Is Honda putting something in the water supply? Hmmm...pay X amount to lease or the same (less after tax break) amount to BUY. It's a no brainer. You can lease a loaded Subaru Tribeca for $400 max. Some are saying as low as $360 with zero down. That makes more sense. There's no way I'm dropping $500 a month to borrow a car for 3 years. Especially when Hondas are SUPPOSED to have this amazing resale value. If your payments add up to 50% of the original value of the car I guess it ain't such a great resale value after all. If you can't save at least $100 leasing vs buying DON'T LEASE.

    Also, the guy a few posts up said "Ways to lower your payment" and listed LARGER DEALER DISCOUNT as a tip. Good luck. These Honda dealers think their vehicles are made out of solid gold. Not much negotiating room at all. Best way to lower your payment is to shop a different brand OR BUY like I've been saying all along. Honda and leasing should not even be allowed in the same sentence.
  • ck90211ck90211 Posts: 129
    My 06 EX-L is due to return end of the month. Still runs/looks perfect, and economical too ($289/month nothing upfront). Was thinking about extending the lease but since no more warranty, I wanted to look around to see what else. Best 09 Pilot EX-L 2WD deal I seen so far is Boch in MA for $388 nothing down. Is that the case or has someone managed to find something cheaper?
  • i went to two dealers so far. One out of the gate said 515.00mnth - when i pushed they were willing to do 468.00. Second dealer said 535.00 out of the gate - when pushed for better price they said they would do 450.00. I plan to wrap it up friday/saturday at a price of 430.00mnth if possible.
  • freshyfreshy Posts: 4
    I've never leased a car before. Know nothing about it. Scared.:confuse:

    After searching all day for a certified pre-owned Pilot, we decided that leasing an 09 might be the way to go to keep the monthly in our budget. Our last stop of the day, we discussed with the sales manager $3000 down and $320/month with 15k miles annually. Sounds like a good deal to me....too good (they had $399 offer on the windshield).

    I'm hoping to finish this off tomorrow, but have no idea what to look for in the lease agreement. What should I look for in the contract...are there catches or concerns, or will it be pretty straight forward? I expect him to come back at $350/month. I've researched a bit tonight, but the money factor is new and confusing to me. Any help and/or solid advise would be greatly appreciated.

    Thanks,
    CP
  • ck90211ck90211 Posts: 129
    Since I am about to return my Pilot back to Honda, I would suggest looking carefully at:

    1. The obvious, such as cost of the car, money factor, residual, etc.. You can cruise the rest of the forum to understand what these are.

    2. Taxes. Are you getting taxed for the whole amount of the car? or just the monthly payment? Plus are the state/dealers fees clear and legit?

    3. Allowances (mileage, damage, penalties).

    I just had Honda's inspector (they outsource to SGS) inspect my soon-to-return 06 Pilot. It still looks great (no dents or bodily damages), and even the inspector said so, but they are very severe with every nick/scratch. Just some chips/scratches on hood and near door handles came out to $1320!!!! A body/detailing shop could have easily fix this for $ 200 or less. Luckily it is still within the $1500 allowance from Honda.

    I can't help but think the high estimate is Honda's way of trying to extract more money from expiring leases, or a way of getting me to buy/continue leasing this, or another Honda vehicle (since they will often overlook penalties if I buy/lease another Honda).

    Anyhow good luck on your new lease.
  • bigdadi118bigdadi118 Posts: 1,207
    freshy
    09 EX L FWD
    $389 with zero down, 12k mi/yr, 3 yr lease
    $399 with zero down, 15k mi/yr, 3 yr lease

    if you put 3k down and you lose them all if your car is totaled, so no money or low down are better.
  • jayriderjayrider Posts: 3,406
    Sale price = 31000. Tax at 7% = 33170. You have to put down 3317 to get to 30000 loan. Leasing lumps everything into the payment. Zero down means you get the new car for the first payment and walk away after three years. No having to sell or trade in -- just find another car. That is the mindset. It appeals to some -- doesn't appeal to others. Leasing costs more than buying in almost all instances. Check out ride with g dot com and see why he leases. It's just another option to get a car. The deals are not very attractive at this time so buying does make a bit more sense. Leasing used to be much more attractive. where people made out was when the depreciation factor on your lease was 60% and when it came time to turn it in the reality loss was 40%. Mercedes Benz was a good example. People leased 55k cars and only payed for 22k in depreciation when actually the car lost 33k.
  • stoopystoopy Posts: 105
    Jayrider-

    He said in his first post selling price was $31,000 so yes adding 7% tax your loan would be $33,170 HOWEVER he also said $875 due at signing which I deducted off the total. Thus, the loan becomes $32,295, at 5.49% (CREDIT UNION RATE) for 72 months your payment would be $527. My point wasn't why people would lease rather that it was financially ignorant to lease a $35,000 Pilot for $500 when you could buy it for $20+ more.

    Also, later posts said $500 with $3,000 down. Again, add the $3,000 to sales tax and you are back at below $31,000 loan amount. It would therefore be $520-ish.
  • jayriderjayrider Posts: 3,406
    Stoopy -- The question as to why people do what they do in any endeavor defies logic in many cases. Some people see things in absolute terms -- right or wrong. Some look only for a bit of an edge one way or the other to make a decision. They stay flexible in what they feel is to their benefit. By leasing, people avoid any long term connection to the car. Trading it or selling it is a source of great anxiety. As you said, they pay for that transaction. On paper it doesn't make good financial sense most of the time and a honda pilot is probably low on the best lease list.
    Why do people live like paupers, house is a dump, old clothes, junker car and then when they die the kids split up 500k in the bank and in the closet? Happens all the time. They drive corvettes to the funeral. What a world.
  • glennjrglennjr Posts: 21
    Buy things that appreciate rent/lease things that depreciate has always been my theory. I will admit however that the SUV lease market is not great right now. In 06 i leased a 34K 4runner for 323 a month with true zero down. Just 36 payments of the 323. That was a 61 percent residual and a ridiculously low MF. Now i am looking at the pilot with only a 49 percent residual and a somewhat high MF. The best option right now on the Pilot is to buy it pre owned.
  • I am about to lease a Honda Pilot 2009 - but was just told by a local dealer that the 2010's will be out next month ??? has anyone heard this ? can anyone confirm this ?
  • I've been watching this board for about five months, and while it's helpful, I'm finding that I'm not getting the value some have mentioned. After much back and forth, this is what I'm down to:

    $28,599 price
    $2,699 down
    $399 / month (that's after tax)
    12,000 miles a year
    0.00151 money factor
    52% residual

    Any thoughts? I might pull the trigger on it if not. I'm in the state of Washington.
  • freshyfreshy Posts: 4
    Thanks for the advice. I've decided to hold off...would rather buy a used 08...but good luck finding one within our budget!
  • stoopystoopy Posts: 105
    What's MSRP?

    Is the $28,599 the Net Cap Cost? (Sale Price plus fees minus down payment)
  • $28,599 (or $28,589 - whatevs, it's that close) is the price the dealership is giving me. The MSRP is quite a bit higher, but I don't know it off the top of my head. I'll try to get that.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, imy2. Honda Finance's residual values for leases with only 12,000 miles per year are 2% higher than its 15,000 mile per year residual values for most terms.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Dan. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Pilot EX AWD with 12,000 miles per year are .00151 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    When negotiating your lease on this truck, make sure to take the $1,500 dealer cash that is currently available on it into account.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • jasonscottjasonscott Posts: 14
    Was about to pull the trigger this weekend on an Accord EX-L Auto 4Cyl w/ Navi AND a Pilot Touring 2WD.

    Had my numbers all worked out with the dealer, but spoke to them today and they now say that there is no more incentive on the Accord and the Pilot incentive dropped!

    Oh Boy this may be a deal breaker!

    Can someone give me the current incentives on the Pilot Touring and the MF and resid for 36 months?

    Any help would be appreciated.
  • I am in the same boat as one of the last posts. I have been watching the Pilot lease deals for the last few months while waiting for my current lease (06 Nissan Pathfinder) to expire on June 20. I see that the old lease specials have expired and there does not seem to be much to work with at this time. CarMan, can you tell me in your experience how the summer specials usually are for the Pilot's. Do you think that I will get a good deal between now and the middle of June. I live in the South Florida area. Can anyone post any recent deals.

    Thank You,

    RL
  • frankbuck1frankbuck1 Posts: 1
    I was looking to lease a 09 Honda Pilot today and one dealership gave me an option for $525 a month for 36 months, 15K miles a year. $1100 out of pocket initially, includes 1st payment etc.
    This seems like a good deal but does anyone pay less for this model? It is one step below the Touring edition.

    Your help would be greatly appreciated. Looking to get one soon. Tnx
  • JM123JM123 Posts: 5
    Carman, the lease deals on Pilot I am finding are worse than they were 3 months ago. Do we have any hope of better deals coming up soon? Thanks.
  • umjer026umjer026 Posts: 1
    I just leased a 2009 Pilot EX 2WD.

    I paid $2000 at signing (including first month), and I'm paying $385/month (including tax).

    Im in Miami, Florida.
  • I have a couple months before I turn in the 07 Pilot 4WD EXL no/navi. The payment is $384 month..How can I tell if this was a good deal. I did a 3yr lease w/15K miles and 1K out of pocket at signing in 2007. My question is about the buy price. I am thinking of buying it at the end of lease. The purchase price is $21300. This looks pretty close the price on the open market so is this a good deal? I want to do it because the 09 lease rates are not close to the 384 payment I have now.

    Any tips or suggestions?
  • My lease comes up soon and I dented the front and rear bumpers pretty bad to the point the plastic cracked in a few spots. Honda says I need to use a authorized Honda repair place....I know this is technically their car but has anyone else repaired their lease vehicle using a non-honda repair facility? The 1500.00 damage credit is for 500 per incident and I am sure a new bumper and paint is over 500.00 each. Is that how they define a incident?
  • alycalyc Posts: 3
    in ny looking to lease 2009 pilot EX-L - 12,000 mi, 36 months, no out of pocket, what is the price i should be looking for? Looking to keep costs down - thoughts on 2WD vs. 4WD? EX vs. EX-L
  • We have a 4WD because of our deep snow in the winter but for city driving 2WD is fine. I would think in the Northern/Midwest you would want 4WD for snow and resale value. In the west and south you wuold want 2WD.

    Carman can give you the lease rates but personally I don't think you should spend anymore than 350-400 per month on any $30+ vehicle. Just my opinion based on my credit and personal financial situation. The resale value is to good on Hondas.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jasonscott. What the dealer told you is incorrect. That's a pretty dumb thing for a dealer to say anyhow. Don't they want to make a deal? The lease program and dealer cash on the 2009 Pilot are exactly the same in May as they were in April.

    The 2009 Accord's lease program and dealer cash are the same in May as they were in April as well. The only difference is that there was a volume-based dealer stairstep program on the Accord in April that is no longer available, but chances are most consumers were not aware of that program anyhow.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Pilot Touring 2WD without RES with 15,000 miles per year are .00151 and an ugly 44%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda is currently providing $1,500 dealer cash on this truck.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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