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Honda Pilot Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ppierce2. Let's crunch some numbers and see what we come up with. According to my calculations, if you were to lease a 2010 Honda Pilot EX-L 4WD that has an MSRP of $36,155 and a selling price of $30,854 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $412. Sales tax is going to make your payment higher than that, particularly in Illinois which is known for particularly egregious taxes on leases.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, tex18. According to my calculations, if you were to lease a 2010 Honda Pilot EX-L 2WD that has an MSRP of $31,500 and a selling price of $27,500 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $402 assuming that you qualify for its top credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gman1957. Interesting. I wouldn't be surprised if dealers were winding down their inventory of 2010 Pilots. Still, I wouldn't let them hold my feet to the fire and overpay for one. If I really wanted to get a Pilot, I personally wouldn't be willing to pay more than $500...maybe $1,000 over invoice. If dealers weren't willing to do that right now, I'd either wait until the 2011s are plentiful or go with a different vehicle.

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  • Hi - I've been trying to lease a 2010 Pilot 4WD Touring w/Nav & RES and was quoted $549 per mo., inc. taxes, 12,000 miles, 36 mos. Sale price is $35,512, Residual $21,296, money factor .00183. I also have a 2007 leased pilot that they said they would buy back from me. My buy out is $18,100. They told me it was worth $21,000-$21,500, I would have $2,400 as cash down. So when I plug the numbers into your calculator the payment is under $500. So 10 minutes later I called the dealership back and questioned them. They then told me that the sale price is acutally $36,012 and they were only giving me $1,500 for my 2007 pilot. What's going on, how can they change the numbers in 10 minutes? Is $549 a good deal? Should I walk away, try to negotiate? FRUSTRATED!
  • lyla79lyla79 Posts: 1
    My lease on my 06 Pilot ends in May. I had negotiated a pretty good residual (its basically TMV, plus I have leather and side steps which aren't calculated in TMV). I have a few issues with the car (probably need to put new tires on, its almost 48k miles), someone hit the front with a hitch I think, I need to get the damage replaced. So really I think its a better deal if I buy it out.

    My credit has gone down (570 - got divorced which is always a problem) and I can try to get it up as much as I can. I'm a single mom now and work for myself.

    Does anyone have a good idea for me? I talked to Honda and they said its an extra 1k if I do the financing through them - they have not run paperwork, thats just in general (plus taxes). If I get it ready to give back I'll need to pay my insurance deductible to get that front of the car fixed.... but then I'm not sure I'll be able to get another car and I have to be able to get to work.

    Can anyone give me some ideas or experiences? I'm not sure if extending the lease is a good idea or if it makes any difference on the residual in a year or what that does. I really need help. Thank you in advance
  • gman1957gman1957 Posts: 35
    Can you kindly forward your spreadsheet. I am curious how they come up with different quotes.Paste the link on the reply.Thanks and good luck with your new Pilot
  • mngator1mngator1 Posts: 1
    I have been offered the following deal on a 2010 EX-L 4WD: $482/mo. for 36 mos./12K per year with $600 total cash out of pocket at lease inception. Included as part of the deal are a payoff of my "upside down" trade -- payoff is $25K, dealership is giving me $23.5K for it. In other words, there is $1500 in "negative equity" getting worked into the deal.

    I suppose I could look at it this way: I am $1500 upside down but I am coming up with $600 at inception, so the dealership is only factoring $900 into the deal. $900 over a 36 month lease is approx. $25/mo. (I know the math is rough, but it's a ballpark.) So another way to look at the deal is that I am getting the vehicle at approx. $457/mo. with $0 out of pocket, before taking my trade into consideration.

    Thoughts? It's based on a cap cost of approx. $32,500, MSRP is $36,155.
  • willk52willk52 Posts: 1
    Honda is showing 2295 down and $309/mo for a AWD LX. Should I be able to negotiate a better deal than this? What would be a good lease for a AWD EX model with 0 down and what kind of residual would I expect at the end of 36 months? Thanks,
  • jrock30jrock30 Posts: 4
    i think its 1990 down plus 1st month 309. plus , dont forget sales tax and prob a bank fee, and dmv fee. sales tax is prob 900-1000. compared to what it was its a decent deal. good luck. let me know what u get
  • mybuymybuy Posts: 42
    Hi, I'm in the process of turning over my 2007 Ody lease and am looking at both the 4WD Pilots and CR-Vs. I'm starting to shop/research the details so any info would be helpful. I would like a 15K/year mileage lease for a 4WD, EX-L with NAV as a minimum with possibly adding a towing package + hitch and black running boards.
    Since I'm turning in an Ody, any info on leasing another Honda would also be helpful. My lease is up in early Aug, and I'm currently 6K over my 45K lease, so it's sitting in the garage while I use my son's car. When I turned over my 2005 Ody, it was 3 mos early and about 4K over in mileage with no additional charge for the overmileage out of pocket. Thanks for any info and advice - I'm in the Cincinnati-Dayton area.
  • gman1957gman1957 Posts: 35
    Are the tires considered under the 1500.00 allowance?
  • We're looking at leasing a 2010 EX-L no RES/NAV. WE have a 1995 Lexus LS400 we want to trade in. We are located in South Jersey, 20 minutes from philly. Have any of you gotten good deals in Philly area Hondas? How much do you think our monthly payments will be?

    Thanks!
  • mybuymybuy Posts: 42
    Hi. Started my shopping for a Pilot. I was looking for an 4WD with NAV for 3 yrs and 15K/yr. It looks like my 2 options would be a 2010 Touring or a 2011 EX-L. The deal seemed to be better for the 2010 Touring. So far my first quote for the Touring was $35,743SP with adding tax, title, registration that brought it up to $38,368. With 0 down, the monthly lease would be $618.80. Does this look like a good deal?
    I also wanted to add the black side steps and they quoted me $1400 which included labor. That seemed high compared to the Honda builder price. How should this be worked into the lease terms? I'm in the Cincinnati-Dayton area. Thanks for any help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gman1957. I believe that tread wear on tires would be covered under Honda Finance's $1,500 lease-end excess wear and tear waiver.

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  • gman1957gman1957 Posts: 35
    Thank you Car Man..........
  • gman1957gman1957 Posts: 35
    Does anybody know if they extended the $ 1500.00 dealers cash back for the month of April ?This program was to expire as of 03/31/2010
  • autoboy19autoboy19 Posts: 90
    Car_man,

    Do you have the lease rates for the 2011 Honda Pilot Touring 4WD for 36 months and 12k miles per year? Also, do the lease rates for the 2010 Pilots carryover from the month of March into April?

    Thanks
  • Hi,

    I am trying to lease a 2010 Pilot in the Chicagoland area. I'm looking at a Touring w/RES. The price I've been quoted is 35,754. I was told residual value is 49%. I have no clue what the money factor is. Can someone please help and tell me if the residual is correct and give me the money factor number?

    Any help would be appreciated. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem gman1957.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Honda did indeed extend the $1,500 dealer cash that it is providing on the 2010 Pilot through 5/3/10.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly do, autoboy19. 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 2011 Pilot Touring 4WD without the entertainment system with 12,000 miles per year are .00183 and 56%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Honda extended its March lease program on the 2010 Pilot through 5/3/10.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, chitowntwins. Honda Finance's April buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot Touring 4WD with the entertainment system and 15,000 miles per year are .00173 and 50%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

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  • Thank you! I appreciate your time and help. :)
  • edriveedrive Posts: 3
    Getting ready to lease a EX-L with RES 15k per yr for 3 years
    $2000.00 down my monthly payment is $473.

    Is this a good deal I'm getting or can I do better?
  • I am currently looking to lease a Honda Pilot 2011 or 2010 EX-L RES. MSRP including destination fee was around 38,000 dollars. I am willing to put down around 3,000 dollars. I have no idea about leasing cars. So....what would a good deal look like. What is the money factor and the residual for 12,000 miles per year? What would a good negotiated price be for this Pilot. Any help or advice on how to recognize a good price would be appreciated.

    Many Thanks

    Bricklacey
  • skizzaskizza Posts: 3
    Hello carman! You have put some great information here and it super helpful. I am looking into either a 2wd EX-L or 2wd Touring lease with 15k miles per year. Can you provide the residual and money factor for 2011 as of April?

    thank you very much!
  • skizzaskizza Posts: 3
    Carman, regarding my post above, to be specific i am looking at the EX-L with Nav. Not sure if that changes the numbers at all.

    thanks again!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, chitowntwins.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi edrive. To me, the easiest way to tell how good a deal the lease that you were quoted is is to look at the selling price that it is based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is difficult to tell how large a dealer discount you are being given. I personally would never lease anything without knowing how much I was being charged for it.

    Let us know what the selling price is and I'm sure that either myself or another knowledgeable community member will tell you what they think

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Bricklacey. Negotiating a good deal on a lease really isn't all that different than negotiating a good deal on a vehicle that you want to finance or pay cash for. You still need to negotiate the selling price of the vehicle that you want. If I was in the market for a new Pilot right now, I personally would shoot for a selling price of around $500 over dealer invoice minus the $1,500 dealer cash that is currently available on this model. You can look up the invoice price of the exact truck that you want over in the New Vehicle Pricing section of Edmunds.com.

    Once you have arrived at a selling price that you are comfortable with, have the dealer calculate your truck's payment using its buy rate lease money factor.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot EX-L 4WD with RES and 12,000 miles per year are .00173 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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