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39 months
15,000 miles per annum
$2500 up-front cash (includes fees, first month's payment and $1000 cap cost reduction)
Dealer will include wood trim (supposedly a $495 upgrade) and will extend the warranty to 39 months/ 45k miles
Total lease price $515 per month (including tax)
Thanks in advance.
http://www.boch.com/bochhtml/bochhonda/pages/promotions.aspx
09 Pilot EX-L with rear dvd Grey with black leather
money factor .00151 and 39 months
32900 cost
2000 down including all fees
they thru in aftermarket bluetooth, and remote starter
465/month including taxes.
what do you guys think..
Your deal looks better than mine does. Where is your dealer?
The dealer is in milford ct, really nice people. I probably could have gotten the cap cost total down to 31500 but i okay with it.
rdoc
I would like assistance / advice on negotiating the following lease deal in PA:
MSRP: $35,865
Sales Price: $31,400
12,000 miles
$498 / month
Residual Value .49
Money Factor: .00151
No Money Down (just 1st mth's payment/tags)
These #s do not seem to compare with previous listings, but I am not adept enough with the formula to figure out what is off. Any feedback would be greatly appreciated on how to move forward.
P.S. Sorry for double post - not sure best place for this question...
http://automobiles.honda.com/current-offers.aspx
Can anyone post current (March) residuals and money factor for Pilot 4WD EX-L and Pilot 4WD Touring? Both for 12,000 miles.
Thanks.
Do they subtract the residual value from the sales price and then calculate the appropriate sales tax percentage and add it onto the sale price?
(i.e - 31000-18000= 13000 , and , 13000 x 6%=780 so the sale price is now 31780 for lease calculation)
OR
Do they calculate the lease as normal and then calculate your sales tax based on the monthly payment
(i.e- 475.00 monthly lease payment becomes 503.50 with 6% sales tax added on monthly? )
Any help with understanding this is appreciated
In other states, such as IL . The sales tax is calculated on the full purchase price and essentially become part of the gross capitalized cost.
Let me know what State you live in.
Also, is the residual value negotiable or does the finance compnay set it?
Thanks for the help, I am closing in on my truck. Just want to make sure I have it all squared away.
I currently have an offer from Academy Honda in Old Bridge, NJ for a
2009 4WD EXL w/ RES for $509+ a month, including tax. 12k mi/36 months
Sale Price: 32,694
Residual .49
MF .00151
0 down payment (cap cost reduction)
$1,531 due at signing includes:
1st month payment $509
Bank fee $595
Document fee $199
DMV $228
Feed back is appreciated.
Thanks alot for your feed back. Can you let me know if you were happy with the dealership?
Car_man
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Once you are comfortable with your new lease then decide whether you want to roll the charges from your current one into your new deal or just pay them out of your pocket and be done with it.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
When negotiating your lease on either of these trucks, make sure to take advantage of the $1,500 dealer cash that is currently available on them.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
$36,500 (includes 670 destination plus the pkgs on the car)
+ 1,500 (dealer cash that you have to be taxed on)
+ 176 (doc fee)
= 38176 (total amount taxed)
* Lake County, IL tax rate ($2767)
+ 158 (for NEW plates from the state of Illinois)
- 1500 (dealer cash from above)
= $39602 OTD (this is adjusted to include the packages as stated)
Questions:
1.) is this a good deal? the cars seem to be in high demand/ low supply
2.) is the dealer handling the 'cash back' correctly?
3.) would the "out the door" price be different if I lease the truck?
4.) is the destination fee valid? is it negotiable?
Thanks to all !!!!!!
I tried to get better clarification from dealer salesperson but am still getting vague numbers that actually changed a bit..
the msrp is 35,865 36 mth lease, 12,000 miles
the sale price is 31,400
the monthly price is 519-520 including tax
the first payment and plates are due at signing
the money factor is .00151
the residual value is .50 (in my original post, I thought it was .49)
What fees might they have added in? So besides telling them that their monthly payment doesn't match up with the sales price, what else can I say? I guess I am looking for "ammunition" to prove my case.
Thanks again for the help -
MSRP ......... .............. $35,865.36
MONEY FACTOR 0.00151 (X 2400) = 3.624 %
LEASE TERM
RESIDUAL VALUE 50% ......... $17,932.68 (50% of MSRP)
USING VALUE ......... ............ $13,467.32 (Selling - Residual)
EA MONTH VALUE ......... .......... $374.09 (Using Value / 36 mo)
EA MONTH INTEREST ......... ....... $74.49
MONTHLY LEASE PAYMENT ..... $448.58 for 3 yrs lease
* NOT INCL TAX & OTHER FEES, DOWNS, REBATE, INCENTIVE *
$448.58 is bare bone with $0 down that doesn't include tax (different state calculates differently) and Acquisition fee, usually $595.00. Ask dealer to break down the extra per month
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
does honda offer a "low mile" lease? If so what is the residual value and MF for a 2009 EX-l 2wd for 3 years and 10,500 miles per year.
thanks
Your info is very helpful to me. One final question - when I get the details on the fees... are any of the fees negotiable or am I better off just trying to negotiate a lower sales price for the truck?
Negotiable : Dealer Admin. fee
Better off to negotiate the sale price further down.
09 Pilot EX-L RES - $1495 down + Tax + Bank Fee + Tags = $3900
$398. a month for 36 months. Does this sound good to you?
I don't know about the other questions, but the dealer is not giving you the cash back. Not only are you not getting the cash back, but you are being taxed for it. :surprise: THAT'S LOW, BUT WE'RE TALKING ABOUT A CAR DEALER AFTERALL!
They are doing a little math trick to look like they are giving you the rebate but they stuck in to the price "for tax purposes" earlier in the equation.
I'll show you a different way. I'll still add the tax on the 1500 but won't add it the price:
36,500
+176
=36676 (amount to be taxed)
+2659 (tax @ 7.25%)
+109 (tax on 1,500 rebate)
+158 (plates)
-1,500 (rebate)
$38,102 OTD price with rebate. Isn't that exactly $1500 less than the quoted price. Surprise, surprise.
Again, nice job pointing out what a bunch of clowns those dealers were/are! Hard to believe shennanigans like this still exists, but wow!
Illinois sales tax law provides that any incentive or rebate in which the dealer will ultimately be reimbursed by the manufacturer is subject to tax.
So, in essence when the dealer gives you the $1,500 they are getting from the manufacturer, it is treated the same as a "down payment" or a reduction in the amount due and not as a reduction of the sales price that is subject to tax.
This the same state in which we are "lucky" to have to:
A) Pay sales tax on the full price of the leased vehicle and not just the rent payment.
and if we decide to buy the vehicle at the END of the lease, we pay full sales tax rate on the purchase price again!!
They think that if you come in, you have already "invested" time with them, so you may be more willing to buy from them. But are there any other reasons?
in order to get quotes/numbers etc., that would require them to run down to the desk and have a manager run them, so they figure it's just easier to see if the customer would rather come down. now, if you get a true fleet guy or girl on the phone, they can rattle off numbers within seconds as they have the software in front of them to do that. a good dealer will always give you a quote over the phone or e-mail - he has nothing to lose!
when i worked on the inside, before i was in a position to write my own deals, i was always amazed when i told my bosses that i had a prospective client who wants a car we actually have in stock, so let's just make him a great offer over the phone and let him know that we're professional and honest. always got some type of smug excuse like, "tell him we don't do numbers to go." didn't take me long being in the biz to realize that many did not have any sort of business sense and lacked customer service skills. this is why i enjoy consulting so much, because i can truly help the customer and since i don't work for the dealer, i don't need to worry about profit margins, csi's, and all that other bs.
bottom line: if a dealer doesn't want to be helpful over the phone or net in this digital age, find a new dealer, unless of course, you live in a small town with no competition, then you really have no choice, unless you're willing to travel for a deal. also, be leary of the lowball quotes and confirm that the dealer actually has the vehicle in stock, or can easily arrange a trade with a sister location or with another dealer that they do indeed trade with on a regular basis. always reqest a vin or at a minimum, a stock number with your quote. dealers quote low, get you in house, then "flip" all the time. however, their websites want to make you feel all warm and cozy by promising you a "no hassle" experience. just about every dealer promises that, yet so few actually know how to get and retain biz. aahh, the auto industry - so sad sometimes.
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Pilot EX-L 2WD without the entertainment system with 12,000 miles per year are .00151 and 47%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
When negotiating your lease on this truck, make sure to take advantage of the $1,500 dealer cash that is currently available on it.
Car_man
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Anyone knows the reason? Is it possible dealers get more money from Honda on EXL?
36 months @ 15,000 miles/yr
MSRP $37,565
Sale Price $31,322 (presumably got full credit for the $1500 cash incentive and then some)
Financed fees $1,080 (acq fee, doc fee, reg)
Residual 47%
Money Factor .00151
Monthly Payment $514.32 (including 6% tax)
Out-of pocket only the first payment of $514.32
I've leased for 39 months in the past in order to effectively reduce the monthly payment, but the dealers that I have spoken to this time around said that the current money factor and residual for 39 months do not provide any benefits. Can anyone confirm this?
Thanks for any insight!
Last I checked in Feb/Mar you loose 1% (or 2%) on the residual. The money factor on a 36 or 39 month lease was the same.
The 3 extra payments will cost you more than than the savings on the 36 payments with the higher residual.
Plus, EVERY time I have leased a honda, they have always allowed you to extend for a brief time under the original terms at the end of the lease. So if it is a longer time you need, go this route.
$514*39 is over $20k in payments - I am pretty confident the buyout price is way about $12,000
Also, I was able to extend my honda through honda leasing for over 2 years once the lease was up (and it was only a 24 month lease to start with)
I am in the market for leasing a new pilot as my current one is expiring this month. I am wondering if this is the good time to lease one or should I wait till end of summer or so on to get a better deal. What numbers should I expect for 2009 Pilot EX FWD lease in central OH? Any incentives other than $1500 that are available?
Thank you all for your contribution to this forum, it is very useful tool.
Deal looks really good at first glance - I'd just like to know how much their doc fee is? Regardless, looks like a very aggressive deal. My gut says jump on it.
Acq Fee $595
Doc Fee $299
Reg, etc $188
I've gotten a cheaper doc fee from another dealer and since this is "dealer profit" anyway, I'm trying to squeeze a few more dollars out of here too.
In addition, I'm trying to leverage the potential profit in the 2006 Pilot that I am turning in off lease. If the dealer buys this vehicle out and sells it on there lot, they can make a bit of profit. I'm trying to get a bit of that profit applied to the 2009 lease.
Is the residual value on your '06 less than what they're willing to give you in trade? It's not uncommon for a Honda or a Toyota to have a little equity at lease-end, but if the residual is more, just give back the keys and be done with it. The dealer will treat your leased vehicle just like a trade-in.