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Honda Pilot Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Rainee. Enjoy your new ride, and don't forget to hop on over to the Dealer Ratings & Reviews section of Edmunds.com so that you can share your thoughts on your recent dealer experience with others.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Golic. You're not being a pest at all. The more posts, the merrier ;). The 2009 Pilot's "Super Preferred" tier buy rate lease money factor is definitely .00151. I thought that its 36 month, 15k residual value is 48%, but if the dealer is using 49% all the better. The higher your truck's residual value is, the lower its payment will be.

    The $1,500 dealer cash is scheduled to run through March 2nd.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome Poehler. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to get a good deal on a lease is to negotiate as low a selling price as possible on the vehicle that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor.

    Anyhow, check out those articles and let us know if you have any other questions.

    Car_man
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  • dcfakdcfak Member Posts: 22
    Is $24,370 a good sale for an 09 ex 2wd? MSrp was 28,265. Could I do better?
  • vrynicevrynice Member Posts: 22
    I think that's a pretty good price on a EX-L. Is tax included in your monthly payment? Where are you like located? Thanks.
  • dcfakdcfak Member Posts: 22
    South eastern NC. The tax isn't inluded in the paymenty it's due at the end of every year.
  • golicgolic Member Posts: 714
    Honda Extended Lease option-

    I just thought of something on the option of extending the lease. Does that also extend the mileage allowance? I had a 36m/15K lease. If I extend 6 months or 12 months, do I get another 15K miles or a prorated amount?
  • dcfakdcfak Member Posts: 22
    When I spoke to Honda about extending my Pilot lease they said I would get 1050 extra per month. My original lease was based on 12k.
  • dcfakdcfak Member Posts: 22
    Sorry for the lack of knowledge but it seems like I hear I should worry about the sales price vs the monthly lease payment amount. The monthly payment of a lease seems to be the only thing that affect me as long as I put no $ down. I don't understand why I can't just negotiate a lower monthly payment since this is the bottom line for me. What am I missing?
  • ck90211ck90211 Member Posts: 159
    My 06 Pilot EXL lease is about to end in 3 months. No money down and $313/month (including CA tax). It was a screaming deal. Absolute no problem since day 1 and probably good for another few years too.

    Reading mags and online, seems the best replacement for the old Pilot (need the 3rd row) is the new Pilot (room, mileage, amenities, reliability). But with the current lease rate, a new EXL (assuming the selling price is $ 30000) lease with no down is nearing $500/month.

    I don't think the new Pilot is worth the $200/month extra over the old Pilot. So looking to possibly extend the lease (with American Honda Financial) for 6-12 months, and wait for the next screaming Pilot deal (economy doesn't look like it will recover anytime soon).

    Just wondering for those who extended with American Honda Financial. Questions:

    1. Are there any additional fees for CA?
    2. Does it affect the damage allowance when I eventually return it?
    3. Is it month-to-month or every 3 or 6 month extension?
    4. Can I return the car at any Honda dealerships nationwide?
    5. Does extending reduce the appraisal value (thus making the car harder to return without penalties)?

    This was my first lease, thus I have no experience with returns or extensions. So appreciate any feedbacks from folks who leased (especially from Honda) before.

    Oh yeah, if anyone seen new Pilot EXL with no down for $ 300-350, let me know.
  • PTJ23PTJ23 Member Posts: 1
    I just spoke to a dealer that told me the residual for a 2wd Touring w/ no RES is 46% for 12K miles. Does anyone know if this is true or what the actual residual is?
  • bigdadi118bigdadi118 Member Posts: 1,207
    ck

    It is getting close for your search re EXL (FWD or AWD?) between 300-350/mo.
    This week I saw one special lease no money down with $338/mo (b4 tax), 39 mo., for 09 EX FWD (only ONE available) ... keep on checking

    http://www.boch.com/bochhtml/bochhonda/pages/promotions.aspx

    no money down, $398/mo. for 09 EXL - check its monthly promotion

    http://www.boch.com/bochhtml/bochhonda/pages/HondaSpecials.aspx
  • ck90211ck90211 Member Posts: 159
    Wow thanks for the headsup. If I can find a EXL 2WD (without RES or NAV, and no down) for $ 350/month I'll do it. I know my 06 EXL 2WD lease was a good a deal, that is why I am thinking about extending until something cheap comes along (or if it needs some costly services).

    I typically don't like leather seats but the 06 leather was a rare exception, that is why I would prefer EXL over EX.

    Just wish Honda would put hybrid in these for 30 mpg city. Then I would buy one (not lease) today. My other car is a Prius, so it's hard to deal with 17 mpg city (thank you cheap gas, for the time being).
  • dcfakdcfak Member Posts: 22
    How does $335 per month for 39mo., no money down ,12k/year sound for an 09 pilot LX AWD
  • jrm005jrm005 Member Posts: 5
    I am looking for information on the following models:

    EX (2WD) 12K miles - Money Factor? Residual? Term?

    EX-L (2WD) 12K miles - Money Factor? Residual? Term?

    Thanks in advance!!
  • sjtashsjtash Member Posts: 27
    If a lease is for 39 months at 12k miles per year, does that mean the mileage allowance for the additinal three months is 3,000 miles and the total allowable miles is 39k miles?
  • kyfdxkyfdx Moderator Posts: 236,527
    Generally, yes....

    Although, in the past, I have seen some companies do a 39mo/36K lease.. but, it's an unusual occurrence...

    Edmunds Price Checker
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  • dcfakdcfak Member Posts: 22
    Has anyone seen the bali blue in person? Does it look navy blue?
  • chauchau Member Posts: 2
    I just spoke got off the phone with AHFC and extended my lease. Thank you to the folks who posted on this option.

    I extended lease option on my 2006 Pilot EX-L by 24months with the option of canceling it any month (month-to-month lease). I have the same monthly payment AND I could opt out at anytime. I would get 1050 extra miles per month for next 24 months. There are no penalties.
  • golicgolic Member Posts: 714
    Just out of curiosity did you try and negotiate down the lease payment? I was thinking of calling to see if I could get it reduced and I would keep the car. *shrugs*
  • dcfakdcfak Member Posts: 22
    Can I do better?
    09 LX AWD Pilot lease $335/ month for 39 mo. 39K total mileage. No $ down.
  • cmp3cmp3 Member Posts: 1
    Hello all,

    If there's anybody who leased Honda Pilot on Socal recently, please post the information. My lease will be expired very soon and would like to lease Honda Pilot, again.

    Thank a lot in advance.
  • sjtashsjtash Member Posts: 27
    39 month lease, 12k miles per year, $0 down (except bank fee, dmv). $428.05 per month, including taxes.

    Completed deal today. Huntington Honda, Huntington, NY - very pleasurable to deal with. Took time to deal with me and virtually guaranteed to beat any other dealer, which they did.

    Thanks to all who have posted and provided me with the information I needed to make an informed decision and ask the right questions.
  • golicgolic Member Posts: 714
    What was the purchase price of the vehicle??? And is this a 2WD or AWD?
  • karate19karate19 Member Posts: 21
    Could you also please let me know the money factor, residual and purchase price. I am also going to lease from Huntington Honda so this information is very helpful and appreciated.
    Thanks
  • lola29lola29 Member Posts: 1
    My husband and I are totally new to leases and so we are very wary about the prices they are quoting us. The salesman quoted us.
    For a 2009 EXL 4wd 3 year lease
    15,000 miles per year
    4,000 down, which includes tax and fees.
    400.00 per month.
    We are in Utah

    I think that is everything. Is there anything else I need to be aware of? Any help would be very much appreciated. Thank you!
  • kcv724kcv724 Member Posts: 5
    Anyone that has leased w/ a great deal please provide me w/ info. Looking for 36 or 39 month 2009 Pilot EX-L. I've been quoted 425 w/ 2500 out of pocket. Seems high after reading this forum.
  • zabarskizabarski Member Posts: 2
    Just got a quote for an 09 2WD EX-L, 39 month, 12k per year. Everything seems in line except the Residual. Dealer claims its 47% for "Super Prefered Credit". Does that seem right? I was expecting a bit higger. MF in line at .00151. Below is their first attempt at quote, going back this week to renegotiate.

    Sales Price $30,265
    Residual $16,104
    MF .00151
    $450 per month (tax not included)
    $0 down except first months paymet and doc fees
  • w_zmanw_zman Member Posts: 4
    Hello,

    I have drove home with an EXL-AWD $2000 out of pocket 39 month 12000.

    $410.

    Regards
    Wm
  • AXM23AXM23 Member Posts: 64
    That sounds like a good deal on that Pilot EXL AWD. Did you have any options? Which dealer in the NY area? I see that you also have a 39 month term. Is your lease with American Honda?

    I am looking for a deal on the same Pilot or maybe a Highlander Limited.
  • sushiman58sushiman58 Member Posts: 3
    I just got a Pilot 4wd-ex for 389 a month 39 months with 15K miles per year with remote starter and passive alarm

    We got it from Huntington Honda. I put down 2K but had my 2005 Nissan Xterra lease paid off 4 months to go
  • love2driveinctlove2driveinct Member Posts: 80
    Do I remember correctly that there is a dealer incentive going on right now that's due to expire in March? If anyone knows anything about that, please remind me...

    We are ready to lease a Pilot, but we would like to take our chances on waiting until late February since we still have one more payment to go on our current lease and don't want to have two ~$600 payments in one month if we can help it.
  • love2driveinctlove2driveinct Member Posts: 80
    The $1,500 dealer cash is scheduled to run through March 2nd.

    Oh wait... I found it. Car_man posted the above in message #2197 on Jan 16.

    Is that still accurate as far as you know, Car man?
  • bigdadi118bigdadi118 Member Posts: 1,207
    You can check incentives on 08, 09 Pilot at edmunds new car section
    Pick the car you want and then look for incentives link
    image
  • golicgolic Member Posts: 714
    According to Edmunds new car site - it shows the $1,500 dealer cash only available through February 2nd, 2009?

    Car_man???
  • ebd4662ebd4662 Member Posts: 35
    I just was quoted this price in NYC Area for a 09 Pilot EX
    39 month lease @ 399.00 per month
    No money down
    Tax, Bank Fee and DMV up front
    PLUS they are taking my current Honda lease back 2 months early

    I did not ask for the breakdown of Sale price, MF and residual.

    From what I have been reading this deal doesn't seem bad at all.

    Please let me know what you think ....Thanks
  • bigdadi118bigdadi118 Member Posts: 1,207
    In MA Boch Honda this month PilotEX lease special I saw is $348/mo with your above considitions. Limited stocks so color choice and availability is narrow, but you can use it as reference for negotiate further down.
  • kcv724kcv724 Member Posts: 5
    WM,
    Thanks for the info. Was that including DMV fees and taxes? Is that 410 including tax? Can you provide me w/ the dealer and salesman? Better than any deal I've haggled so far.

    Thanks,
    Keefe
  • golicgolic Member Posts: 714
    I am trying to decide if I should pull the trigger on a lease now or wait to see what comes after Feb. 2nd.

    The big gamble of course is the potential loss of the $1,500 in dealer cash.

    My question is though, even if the dealer cash gets extended, doing I also run the risk that the residuals can begin to fall on the 2009 Models?

    The current quotes I am getting on the 2009 Pilot EXL (AWD) for 36/15m are 48% with the .1151 money factor. (I was also shown that the 39 month lease uses a 47% residual).

    Car_man, do you have any insight or trend in residuals and money factors? I know the D3 lease market is non-existent. But man, I feel I am in murphy's law territory - that I will be damned either way!!!
  • w_zmanw_zman Member Posts: 4
    The dealer cash back will end on 02/02/2009
  • kcv724kcv724 Member Posts: 5
    I'm in the same situation as you. What is the best price so far and what dealer?
    Thanks.
  • golicgolic Member Posts: 714
    So far the two best prices I have on the unit is $30,830. And that is after reducing for the $1,500 dealer cash. I have no trade-in, so this is a hard number.

    Kcy I am in the Chicago area, so not sure if the dealer info would help you.

    The real kicker is that in IL - we have to pay sales tax on the $1,500.
  • w_zmanw_zman Member Posts: 4
    Here is the best deal you can get on 2009 pilot EXL-AW

    selling $30250 + bank fee

    39 month resdiual 49%
    money factor .00151

    adding reg and doc + tax , you can be around $412 a month.

    Do you think you can ever do better going forward.
  • w_zmanw_zman Member Posts: 4
    Sorry forgot to mention $2000 down
  • golicgolic Member Posts: 714
    So are you going to enlighten us on where to get this deal?
  • golicgolic Member Posts: 714
    I did the deal last night at MotorWerks in Barrington.

    $30,900 for the car - lease payment was $544 (36m/15K). I rolled the tax and acquisition fee into the lease, only paid for first month and tags, title. They gave me free the all season floor mats.

    I am sure there is more wiggle room in the price, but they were the most upfront. After the 1st email and 1 phone call he emailed me a detailed sheet. It had the correct money factor, residual and miles. He even went over the 39 month options if I was interested.

    We agreed over the phone, I faxed them the completed credit app, and when I got there they were ready for me. Reviewed the numbers, showed me the car (already prepped) and walked me right into F&I. I was there at most 35 minutes.

    I dealt mostly with the sales manager and another salesman. I think the salesman was new and the SM was helping him walk through the deal. If you want their names, shoot me an email.
  • powertrainpowertrain Member Posts: 12
    Just got back from the dealer with the following offer:

    Invoice (according to edmund's) less $1,500 plus 599 (dealer fee)
    36 Mo / 15K
    Residual 43%
    factor .00151

    Acquisition fee ($595) rolled into the lease.

    Is the residual value accurate?
    Residual for 39 Mo. is 42%
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    PTJ23, the residual value that the dealer quoted you for this vehicle, term, and mileage allowance is correct.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello jrm005. 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 2WD with 12,000 miles per year are .00151 and 49%, respectively for consumers who qualify for its "Super Preferred" credit tier. The numbers for an otherwise identical lease of an '09 Pilot EX-L 2WD are .00151 and 48%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey love2driveinct. Honda is providing $1,500 dealer cash on the 2009 Pilot through March 2nd. It is difficult to say what its program will look like after that. I personally would expect its incentives on this model to stay the same or get better, they traditionally do as the model year progresses. However, at some point all of these massive production cuts that automakers have made are going to whittle down inventory to a reasonable level. At that time manufacturers may not feel the need to get any more generous with their offers. As the ancient Chinese curse goes, "May you live in interesting times." We certainly are right now.

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