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Honda Pilot Lease Questions

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  • We are looking to lease a 2010 Pilot, EXL, 4WD with RES. I have been quoted prices ranging from $33,260 to $33,550. Just wondering if those prices are good?

    I am also looking for any insight on leasing. We were quoted a monthly lease of $642 by one dealer, which seems high to me. They did not disclose the other lease terms that we used to calculate that price.

    Any insight would be greatly appreciated. Thanks!
  • Hi Car man,

    I see that Honda is running a special on the 2010 LX 2wd
    $349.00 per month for 36 months. $2,699.00 total due at signing.
    The special runs from 1/5/2010 - 3/1/2010.

    I'm interested in an EX 4WD.

    Since the lease special on the LX 2WD runs from 1/5/2010 - 3/1/2010, is it correct for me to assume that the money factor/residual value on the LX 2WD, and possibly the rest of the Pilot line will not change until the first tuesday of the month in March? Meaning that the February residual/money factor will be the same as January?

    I searched back in the forums and read posts from January and February 2009 and it appears that the figures were the same for both months. I'm wondering if history will repeat itself.

    I'm torn between the Highlander, Pilot and Forester. Had a few pilots before and I'm a fan, I'd just like to avoid overpaying. Or, I'd hate to get another vehicle only to see the Pilot numbers drop in the upcoming months.

    Thanks!
  • Just got my 2010 Pilot EXL, 4WD today in the Midwest. $1600 down (my choice) and $449 mo. payments with a 3 year lease at 15,000 miles per year.
  • Looks very good! Was it 1600 due at signing or 1600 down? Also, if you don't mind, what was the negotiated price?

    Thank you!
  • What was your OTD cost? MSRP? Negotiated sales price?
  • Does this sound reasonable?

    2010 Honda Pilot EXL
    36 month Lease, 15k miles per year
    $31,500.00 final selling price
    $0 down
    Sign and drive with 1st months payment
    $425.00 per month including tax
  • Looks pretty good. What is your residual? What state?
  • Sounds like a 2wd EX-L based on the selling price.

    Excellent deal - I agree. Could you provide the dealership? Thanks!
  • albert72albert72 Posts: 141
    Based on what I am seeing, thats a very good price. Is the dealer ordering it for you? I was told it is very rare to find a 2WD Pilot on the lot and special ordering them is common.

    Went out looking today and had a dealer quote me on a '10 Pilot EXL 4WD (No RES) 3 yr 36k at $599 including tax as a sign & drive deal with no other out of pocket. Way too expensive.

    Hondaman, are you able to say what dealership offered you this?
  • Hey Carman, love your posts, and hoping for some assistance.

    I'm a well informed consumer who felt very comfortable negotiating a lease. Managed to work lease below invoice with no hidden dealer fees etc.

    All of this was done with the assumption that they would go to a nearby dealer and have to get the color of car that I wanted. They identified the dealer and confirmed the car was available.
    In closing, the dealer filled out a "purchase agreement" -a standard dealership carbon copied form and insisted that this would need to be signed in order for them to go and get the vehicle. The sale price was our agreed upon value, but the specifics on the car were missing. Simply the make and model of the car they were looking to locate, but no vin number.
    I explained I was not willing to sign a "purchase agreement" and requested that a "lease agreement" be filled out.

    Their response was that they could not fill out a lease agreement because they did not have a vin number , and the "purchase agreement" was only a promise that once they obtained the vehicle I would come back and complete the lease transaction. (***side note that the 'purchase agreement' originally had a sale price of 2k higher than the agreed upon sale price, but they corrected it when I pointed it out.)((***they also crossed out 'purchase agreement" and wrote in "lease agreement"
    I suggested they contact the dealership that they mentioned to me earlier (the one that had the vehicle on their lot) and confirm the swap, get the vin. Dealer responded that they did not do swaps on Saturday and they were a half hour from closing.
    Carman, I was at the dealer for about 4 hours. I negotiated a brass tacks lease agreement with the purchase price well below invoice and no dealer addins or hidden fees (minus the aquisition fee). I sat there and calculated long hand my lease payments and waited for them to "figure out" why their computer was coming up with a higher number. All of this based on the premise that they would obtain x vehicle from x dealer. They disclosed to me the dealer name, etc. There was no question of what vehicle we were negotiating on.

    Questions:
    -Does signing a "purchase agreement" make sense in this scenario? Is this typical or do you think they were trying to trick me into purchasing for a higher price because they were upset with the way the lease negotiation went? (My purchase price was a couple hundred below invoice, and I worked them out of all dealer add ins) There was NO profit, no addins. just used a basic lease calc.
    -Would a dealer not perform car swaps on a Saturday? I asked them why a Saturday was different than any other day. They said because it was their busiest day. I said "so all the more reason to perform swaps and close the deals"

    The transaction ended with me explaining that I did not feel comfortable signing a purchase agreement when I was leasing , let alone a purchase agreement lacking a vin number.

    I left and advised them to call me on Monday when they had the vin and I would come back in and sign the lease papers on the same numbers we agreed upon.

    Your thoughts?
  • Hello Carman,

    I am ready to purchase my 2007 Pilot EXL (standard, no RES or Navi) at Lease end in April. It is in great condition with 45k miles on it. I can purchase it at my residual of $15,900. Is this a good price considering the milage on 2007 model? Also, Im being told that I need to pay a dealer fee to execute the purhcase of the vehicle at Lease end. I know I need to pay taxes and title/registration. Are there any other fee's they won't tell me that I need to be aware of? I really enjoy the vehicle and would like to finance the rest for 48 or 60 months. Your input is welcome....just trying to be prepared....

    Thank you in advance...
  • Wanted to find out if this is a fair deal...We are in Long Island (Suffolk Cty) NY. 2010 Pilot EX-L (no Nav). 36 month lease/12K mi yr. No money down, taxes rolled into payments (we would pay 1st mth payment & dmv reg fees up front) $550 per month.
  • td_inctd_inc Posts: 30
    Reasonable?? I've been dying for an offer like that. We looked around for awhile and it was crazy prices.
    My infiniti m35 is about 10-15k more expensive and they want more 50-100 more a month then i pay for that. what is honda smoking?

    if i could pick up the pilot for 425 i'd sign tomorrow.
  • Hey cpaman. The residual value looks good, but money factor that you were quoted is too high. According to the latest information that I have seen, Honda Finance's current buy rate lease money factor for a 36 month lease of a 2010 Pilot LX 4WD is .00175 for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi porsche911c4s. Your assumption is correct. Unless it makes an unscheduled change, Honda's January lease program for all Pilot trim levels will run through March 1st.

    Of the three vehicles that you mentioned, to me the Forester is far and away the best value. Having said that, it's not nearly as large as say the Pilot. It all depends upon what you need. I would have said that the Highlander is a nice middle ground between the Forester and the Pilot, but obviously Toyota can't even sell them right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks needtoknow4 :blush: . There's nothing wrong with signing a purchase agreement. The vehicle technically isn't yours until you physically drive off the lot in it, and the dealer cannot force you to take delivery if you don't want to. The dealer is just trying to make you feel committed to the deal and rightfully so if they are going out of their way to swap for a specific unit for you.

    I wouldn't be surprised if the dealer was indeed trying to trick you into paying more for your vehicle, but you caught them so don't worry about it. Just make sure to check all of the paperwork carefully before you take delivery.

    I can see a dealer not wanting to spend time swapping for vehicles on Saturday when it probably can close a ton of non-swap deals then.

    It's now a couple of days later. Do you have an update for us?

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello hondaman15. In order to determine whether you should purchase your Pilot at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your truck's purchase option price on your lease contract, you should place a call to Honda Finance just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.

    As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    If your vehicle's purchase price is less than or similar to its current value on the open market then you may want to consider buying it. If not, walk away.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man
    I am looking to Lease a PILOT LX 2WD .MSRP 28,605.
    Earlier dealer was offering that for 25k for sale.
    Can you please tell me how much would it be Lease (36 mths with 0 down )per month with same pricing.

    Appreciate your help
    Capri :)
  • Hello. I will be finishing my 3 year lease on a Honda Pilot next month. I would owe about $15,000 if I wanted to buy this vehicle. I have an estimated value of about $18,000 on it currently. If I just turn my Pilot in at the end of the lease and the value is higher than what is owed to purchase, am I correct that I will basically lose that value. Any recommendations on what I should do. I plan to lease another 3rd row SUV. A pilot is possible if I can get the rate that I am looking for. My current lease was $282/month with about $3000 down. I believe this was a great rate. Thanks for any help or suggestions.

    Upton0077
  • Hi caprice2. Let's work up a lease payment on this truck for you and see what we come up with. According to my calculations, if you were to lease a 2010 Honda Pilot LX 2WD that has an MSRP of $28,605 and a selling price of $25,000 though Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $352.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • nckitnckit Posts: 1
    Hi Carman, I want a 36/15,000 lease on a 2010 Pilot EX-L 2WD (NO Nav or Ent.) - have a $7,000 Toyota 20002 Limited Highlander 2WD trade and 780 credit. Why can’t I get a payment under $400? Was told by the local Honda dealer that “Special Leasing” ended Jan. 31. BTW the fact that a SUV at this level requires running boards and crossbars as add-ons is making me steamed. Honda is acting like it’s raining Toyota customers, and I would still much prefer getting a 4Runner if I could find one with a 3 Row. Nissan is giving crazy good incentives offering 2WD LE Pathfinders for $369. What’s up with incentives and Honda leaseing?
  • Hi nckit. What you were told is incorrect. Honda's February lease program for the 2010 Pilot is exactly the same as its January program was.

    Let's crunch some numbers and see what sort of payment the truck that you are interested in should have right now. According to my calculations, if you were to lease a 2010 Honda Pilot EX-L 2WD that has an MSRP of $34,555 and a selling price of $31,868 ($500 over dealer invoice) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $492.

    I worked up a zero down lease for you because it is not a good idea to make a large down payment when leasing. Consumers who make one risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. There's nothing wrong with trading in your Highlander when leasing a new Pilot, just have the dealer cut you a check for any equity that you have in it rather than using the proceeds as a capitalized cost reduction for your lease.

    If you really want to put the $7,000 grand down, it would drop the Pilot's payment to around $285.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • msianamsiana Posts: 1
    edited February 2010
    Hi Car_man,

    Returning our 2007 Odyssey looking to get a 2010 EX or EXL Pilot 4WD.

    Hoping for 3 years and 12,000 per. Can you please tell me what is a reasonable deal? (no money down, or a small amount)

    Our lease is up Feb 24. Please help!

    Thanks,
    Michael
  • maxlevmaxlev Posts: 22
    Hello Forum,

    I am researching an EX-L 2W (No NAV) and plan to lease for 36 months with 12000 miles per year. I think that the MSRP is just south of $34,000. I got one quote from a dealer (based on just first payment and tags down) at around $600/month. I didn't press because I was not ready to make a deal. I know this was their first offer and that the first offer is always their "homerun" but, I'm thinking that this is a bit ridiculous knowing that I can get a Lexus RX350 which carries an MSRP of $41,000 for a payment of little over $500 per month. Anyone have a clue as to how low I can get this model down to? Is there any chance of getting a payment in the low $400's?

    All insight appreciated. Thanks!
  • greencardwpbgreencardwpb Posts: 14
    edited February 2010
    Hi Car man,

    I appreciate your posts and have found them very informative.

    I am looking at 2010 Pilot 2WD Touring with Navi & RES. The dealer threw a bunch of crazy numbers at me which I know aren't realistic, but before I go and start to work a deal, I was wondering if you (or anyone else) knows what the residual value of this vehicle would be at 36, 39 and 48 months, and what the associated money factor would be. Also, what do you think a good selling price for this vehicle would be?

    Thanks.!
  • Car man,
    I'm going to piggy back on Greencard's post here. I have those same questions. When I was at the dealer they had 2 different "prices' for lease vs finance. I know you always recommend getting price first and then leasing. With that said, I'll await you response to greencard's post. But I also want to ask if I put on additional extras/accessories (ie running boards, 18in wheels, etc) should I expect the residual value/price to go up as well and if so, what percentage of the cost of the accessories should I be looking to maintain. I would hate to add extra's and get nothing in return on the back end. I don't know if I would buy at the end of the lease or not. Thanks.
  • albert72albert72 Posts: 141
    edited February 2010
    I got a quote (4WD) on an EXL (no nav or RES) on a 3 yr 36K lease for $599. This was a sign and drive so all fees rolled into the price. $599 included tax of 9%.

    Price was unreasonable so I walked. It is my belief they are driving up the price due to supply / demand. This may change in March when Toyota offers some aggressive incentives which should push Honda and the other mfgs a bit.

    Heard the 2011 Pilot will be out in April / May.
  • We were quoted $593 per mth for 4WD EX-L on a 3yr 36k lease, sign and drive taxes were rolled into the payments. I was able to negotiate down to $550 per month for the same vehicle.
  • Car_Man -

    We didn't pull the trigger when I wrote last (Sept '09) but we are considering it again. We are still considering the 2010 Honda Pilot Touring w/Nav (no RES) and are in the Chicago area (in the event geography matters). Our parameters:

    36 month/12K miles per year or
    36 month/10K miles per year.

    Can you provide the corresponding MF rate and residual being offered by Honda Finance? It seems like from my reading on the forum that the Pilot can be bought for about $500 over invoice which is encouraging, though Honda's lease support in Sept. '09 wasn't attractive. Thanks for your help.
  • albert72albert72 Posts: 141
    Can you say what state you are in and the dealer? Do you think you could have gottent the price much lower on a sign & drive or was the dealer at or close to their floor. $550 is a much better price than I was quoted but it is still beyond my budget.

    Thanks,
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