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Honda Pilot Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new Pilot, armjet. I'm glad that you found this discussion so helpful. Thanks for taking the time to give back by sharing the details of your lease with everyone. If you haven't done so already, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey hooops. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot EX-L 4WD without the RES with 15,000 miles per year are .00220 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2009 model are .00151 and 48%, plus Honda is providing $1,500 dealer cash on it.

    Car_man
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  • glh205glh205 Posts: 9
    I have been quoted $598 for a 2010 Pilot EX-L with 15k miles/month, and $666 in upfront payments (first month charge + bank fee). The price of the car is $34k. This seems very high to me. Am I missing something?
  • glh205glh205 Posts: 9
    Also been quoted $558 for a 2009 Honda Pilot EXL with DVD, 15k miles per month, $621 due at signing.
  • hooopshooops Posts: 64
    Thanks for info Car_man. I was hoping there would be better lease support for the Pilot, especially the 2010.

    Any suggestions on SUVs/XOVRs that offer at least 7 passenger seating that offer more attractive lease support?

    Ideally, I'd like to be <= $450 month (tax included). My 07 EX-L w/Nav Pilot lease is almost up and I'm paying $439 month on it, but I have no intention of purchasing it.
  • jsherm007jsherm007 Posts: 12
    My wife has a 2007 EX 4WD Pilot right now. We are looking at selling it, as it's a lease and at 26 months into the 36 month lease, the buyout is about $21,200 (KBB Fair puts value at $21800) and it only has 22,300 miles on it.

    So on a new 2010 lease, I'm being quoted $389/mo (including 6.25% OH taxes) with upfronts down, about $750, 12k/yr (more than enough for us). So am I in a good spot? Or should I keep looking?
  • jayriderjayrider Posts: 3,322
    Unless there are problems with your pilot, consider keeping it and looking for a new one at lease end. Selling a 20+k car yourself can be stressful. If you get a full trade in price that covers your payoff from the dealer -- then I guess you shouldn't be hurt too bad. Makes no practical sense to re-lease another pilot so your decision is emotional. Been there - done that- still doing that. Made more than my share of ill advised car transactions and expect to make a few more. :D
  • danf1222danf1222 Posts: 11
    I was offered the following as an initial offer on a 2010 EX-L. I was looking for a 2009 to take advantage of the $1500 cash incentive but the dealer didnt have any in stock. Am going to make some calls to other dealers to see if I can find an 09 before commiting to the 2010.

    The numbers are as follows:
    (1) Price (I did not negotiate - I let him give me his offer and told him that he was off my number and I would have to get back to him) - $33,865 (including 710 destination fee). This actually isn't a bad number as an initial offer given that it is about 1K over invoice and much lower than the posted TMV on Edmunds.com.

    The lease figures that were offered were
    (A) 514/month with 2775 down (includes bank fee, tax and first month) for 12K
    (B) 534/month with 2840 down (includes bank fee, tax and first month) for 15K

    I didn't feel like pulling out a calculator, so I don't know if the figures calculate properly with MF of .0022 and Residual, but I'm thinking I can get to my target number. I targeted paying $515 with no money down except for Bank Fee, Destination and First Month, so we are probably only about $900 off. May be able to do even better.

    Any thoughts?
  • danf1222danf1222 Posts: 11
    I was quoted a very similar price as an initial offer, 534 per month with 2840 due at signing (which would work out to 594 with 666 at signing). Im going to another dealer tommorow to get them to negotiate off one another with the ultimate goal of getting to 499 per month with around 1500 down for a 12K lease. Unfortunately, the 2010s are too new so there isnt much feedback, and the money factor isn't great but there is the threat of it getting worse once all the 2009s are gone. My understanding is that Honda does not have a great history as far as lease support for this truck, and given its popularity that is unlikely to change.
  • danf1222danf1222 Posts: 11
    Was just offered at a different dealership, offer $33,495 (they claim this is 300 over invoice, but it is actually 500 over invoice when you factor in Destination Charge) with 12K per year.

    They want 2710 down, which includes Tax, Bank Fee and First Month. This probably isn't a terrible deal and works out to about $574 a month with no money down. It's unfortunate that we haven't been able to find a 2009 EX-L anywhere. Have plans for two more dealers, in hopes of getting to $499/month with less than $2,000 down. Not sure if that is realistic, but will try.

    Has anyone been able to lease the 2010 for under invoice?
  • danf1222danf1222 Posts: 11
    Went to 4 dealers, none of them had the 2009. Was about 3 weeks late. Anyway, after playing 3 dealers against each other, got down to $490 per month with $2500 down (tax, first month and bank fee). The other two dealers were not able to beat or match this number, so I think I did alright. Thank you everyone for your input and information.
  • glh205glh205 Posts: 9
    I think that deal for a 2010 seems like a good buy. Was it a 2010 EX-L? Was there anything not standard put into that car?

    Also,any chance you got that deal in NY, CT or NJ?
  • danf1222danf1222 Posts: 11
    It was a 2010 EX-L. I didn't add anything to the truck, but will put runningboard, rain guards and possibly blue tooth aftermarket. I did get the deal in NY, at PS Honda in Manhasset, New York.
  • ny14337ny14337 Posts: 16
    I've been lucky enough to find a dealer in my area (NY Metro) with a 2009 Pilot EX-L 4X4. I'm going to trade in my vehicle which will give me $5000 down towards the Pilot. I know that's more than most people put down on a lease but I'd prefer to keep my monthly number as low as I can. What would be a realistic number that I should hope to get per month? I believe that the invoice on this car is $31,969 and there is an additional $1500 from the manufacturer for the 2009's. Any help would be greatly appreciated!
  • 4wd124wd12 Posts: 5
    Mem34 - As far as your deal goes - just as a comparison I just got into a 2010 Honda Pilot and below is the deal I got.

    2010 Honda Pilot EX 4WD
    12,000 miles
    $3700 down(including taxes, title, fees)
    36 Month Lease
    $350/Month including tax


    We went to a few other dealerships and this is by far the best deal we got.
  • andy603andy603 Posts: 54
    I was just quoted a money factor of .00305 for 36m x12k Pilot Touring with Nav, @MSRP of 41,900 in NH. Without negotiating a discount, which apparently they are not likely to do beyond maybe $500 or so, you're talking about $788/m. How's them banana's. MDX 2009 here I come.

    Any other experiences, please post!!
  • yeayea1yeayea1 Posts: 5
    What state are you in?
  • bigdadi118bigdadi118 Posts: 1,207
    andy ... here is current Acura lease special re MDX

    Leasing
    Start: 07/07/2009 End: 09/08/2009 $499 Monthly Payment
    36 Month Term
    $1805 Down Payment
    $0 Security Deposit
    10,000 Annual Mileage
    Restrictions Lease is based on the 2009 MDX V6 with Automatic Transmission (model YD2829JNW) and MSRP $41,800. $2,000 Lease Cash required for the $499 lease special.
    Comments $2899 due at signing.
  • jayriderjayrider Posts: 3,322
    Don't forget the mercedes ml 350 and audi Q-7. You could probably land a bmw X5 with free maintenance as well.
  • andy603andy603 Posts: 54
    thx but that info doesn't tell me anything about the lease being good or bad. Whats the money factor? Whats the negotiated cap cost?. :confuse:
  • andy603andy603 Posts: 54
    yeah no kidding. I'm anxious to hear other buying experiences for 2010 Touring. Speak up folks!
  • Today, we recived a quote from a dealer in MA, a 2010 Pilot Touring with Nav... no RES. MSRP was $39,800 and we had the black/basic side step added. With the min fees, first mo payement etc,. total of $1500.

    The cap cost or prucahse price was $36,000
    The 36 mo, 12,000 miles yr, payment = $598 + tax
    We felt that there was room to talk them down a bit more.. but not sure if we see the value for this car on a lease

    Another dealer for a $40,995 MSRP offered at cap cost or prucase price of $36,500 (Nav and RES) Not sure their lease payment... but it was closer to the $575 - $600 mark / mo.
  • andy603andy603 Posts: 54
    Riptide, thanks but in order to understand your deal on lease, gotta know the money factor and residual %. Can you please provide for both. Your cap cost on the Nav w/RES is not only below invoice, its below dealer cost and there are no incentives. Are you sure this price is right?? What dealer was it?

    thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, hooops. If you can believe it, Honda actually has less support on the Pilot in July than it had in June. It pulled the plug on its incentives on all trucks this month. If I was a consumer who was considering getting a Pilot in June, there is absolutely no way that I would get one now that the price is several thousand dollars higher. It may sound silly, but there's just no way that I could bring myself to pay a couple grand more for something than I would have had to pay a couple of weeks ago.

    Car_man
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  • andy603andy603 Posts: 54
    Car Man, I posted a similar question over on Odyssey, but quickly here: Are you saying that even a new 2010 Pilot, if it had the $2k incentive for example, could be bought for $2k below invoice? Do dealers give up that kind of price this early in the model year when they just got the first few on the lot or do they typically hold out for 'suckers' who are willing to pay full boat? It would seem hard to believe that they would put out an incentive like that this early in the model year.... thx
  • jayriderjayrider Posts: 3,322
    It does seem silly. :P
  • olear55tolear55t Posts: 1
    Car_man,

    Can you tell me the money factor & residual for these 2010 Pilots:

    Pilot EX-L 2WD

    Pilot EX-L 4WD

    I want to lease for 42 months with 12K miles per year. I reside in Central New Jersey.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey andy603. On relatively high volume vehicles like the Pilot I always shoot for a selling price of a couple hundred dollars over dealer invoice minus any available cash incentives. How low dealers are willing to go on a vehicle depends upon the inventory situation and demand.

    Honda is not currently providing any cash incentives on the Pilot.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, olear55t. Honda Finance's current buy rate lease money factor and residual value for a 39 month lease of a 2010 Pilot EX-L 2WD without the entertainment system with 12,000 miles per year are an unattractive .00285 and 43%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier. The numbers for an otherwise identical lease of an EX-L 4WD are .00285 and 46%.

    Car_man
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  • jayriderjayrider Posts: 3,322
    6.8% money factor -- they don't want you to lease.
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