2016 Honda Pilot Lease Questions

Michaell

bobsparrow said:

What is the MF and Residual, incentives for the Pilot EX and EX-L-AWD in NYC. 12/36
Thanks in advance

62% and .00165 for both trims.

chwtom

Got an over the phone quote from a dealer, wondering if you could help me back-calculate it.

They said the sales price will be 1k under msrp for a lease. 39 month lease. 5% tax included.

I am trading in an odyssey that has Negative $2k in equity (we live in northern wisconsin, wife has gotten stuck in snow with kids and dogs 4 times this winter already).

If I put 0 down (so essentially -2k down) the payment would be 785 per month. If I add 3000 down (which i wouldn't) it would be 700 per month.

Can anyone please tell me if the math checks out based on current residuals and MF?

Appreciate the help!

Michaell

chwtom said:

Got an over the phone quote from a dealer, wondering if you could help me back-calculate it.

They said the sales price will be 1k under msrp for a lease. 39 month lease. 5% tax included.

I am trading in an odyssey that has Negative $2k in equity (we live in northern wisconsin, wife has gotten stuck in snow with kids and dogs 4 times this winter already).

If I put 0 down (so essentially -2k down) the payment would be 785 per month. If I add 3000 down (which i wouldn't) it would be 700 per month.

Can anyone please tell me if the math checks out based on current residuals and MF?

Appreciate the help!

Without knowing the specific MSRP and net cap cost (taking into account the negative equity), I can't give you a payment.

What trim level is this for?

That said, on the surface, ~ $800/mo is a huge amount to pay for a Pilot, even with the negative equity factored in. That's BMW X5 territory.

Not nearly enough information to go on.

chwtom

So I got a little more info. For the 12/39 lease, the residual they are using is 56% and the MF is .00215. I am seeing .00165 everywhere else--does that mean they are up-charging the interest rate?

chwtom

and sorry, didn't mention it is for an elite.

Michaell

chwtom said:

So I got a little more info. For the 12/39 lease, the residual they are using is 56% and the MF is .00215. I am seeing .00165 everywhere else--does that mean they are up-charging the interest rate?

Yes, Honda dealers can mark up the MF.

chwtom said:

and sorry, didn't mention it is for an elite.

Residual for 39/12 on the Elite AWD is in fact 56%. 36/12 residual is 58%; that might be a better payment.

chwtom

Michaell said:

So I got a little more info. For the 12/39 lease, the residual they are using is 56% and the MF is .00215. I am seeing .00165 everywhere else--does that mean they are up-charging the interest rate?

Yes, Honda dealers can mark up the MF.

and sorry, didn't mention it is for an elite.

Residual for 39/12 on the Elite AWD is in fact 56%. 36/12 residual is 58%; that might be a better payment.

Ok thank you. So if the dealer is willing to use the standard MF of .00165, we increase to a 58% residual (are you sure that's right, it doesn't seem logical that a 36 month would have a higher residual than a 39 month...), and the price remains 1k under msrp, what would that make my payment, assuming negative 2000 down and 5% tax? Basically I don't know how to use the calculator because I don't know what fees are added on...

kyfdx

chwtom said:

Michaell said:

chwtom said:

So I got a little more info. For the 12/39 lease, the residual they are using is 56% and the MF is .00215. I am seeing .00165 everywhere else--does that mean they are up-charging the interest rate?

Yes, Honda dealers can mark up the MF.

chwtom said:

and sorry, didn't mention it is for an elite.

Residual for 39/12 on the Elite AWD is in fact 56%. 36/12 residual is 58%; that might be a better payment.

Ok thank you. So if the dealer is willing to use the standard MF of .00165, we increase to a 58% residual (are you sure that's right, it doesn't seem logical that a 36 month would have a higher residual than a 39 month...), and the price remains 1k under msrp, what would that make my payment, assuming negative 2000 down and 5% tax? Basically I don't know how to use the calculator because I don't know what fees are added on...



Shorter term always has higher residual. Car is newer with less miles at lease end, so worth more.

You can't calculate a payment without the specific numbers.

era123

Can anyone provide numbers for FWD EX-L with Sensing in South Florida?

jrt123

I'm working on a deal for an FWD EXL and I'm being charged the following inception fees:

$595 - Bank Acquisition Fee
$795 - Dealer Fee
$239 - Electronic Fee
$60 - Rental Surcharge
$5 - Tire Disposal Fee
$1.5 - Battery Disposal Fee
$18.50 - Title Agency Fee
$200 - Tag Estimate

Total - $1,914.50

Do these fees seem accurate? They look extremely high to me.
I'm also putting down $2,000 to bring the cap cost down to $34,965 to bring down the monthly payment to $406.05 (with taxes).

Thanks

Michaell

era123 said:

Can anyone provide numbers for FWD EX-L with Sensing in South Florida?

What lease term and how many miles per year?

Michaell

jrt123 said:

I'm working on a deal for an FWD EXL and I'm being charged the following inception fees:

$595 - Bank Acquisition Fee
$795 - Dealer Fee
$239 - Electronic Fee
$60 - Rental Surcharge
$5 - Tire Disposal Fee
$1.5 - Battery Disposal Fee
$18.50 - Title Agency Fee
$200 - Tag Estimate

Total - $1,914.50

Do these fees seem accurate? They look extremely high to me.
I'm also putting down $2,000 to bring the cap cost down to $34,965 to bring down the monthly payment to $406.05 (with taxes).

Thanks

The only thing that is out of line is the dealer fee - is this in Florida, by chance?

Everything else seems OK.

We do not recommend making a down payment on a lease - if the car is stolen or totaled, you lose that money.

jrt123

Yes, is Florida unfortunately. I'm putting 2k down to bring down the monthly payment to approximately 400/month

Michaell

jrt123 said:

Yes, is Florida unfortunately. I'm putting 2k down to bring down the monthly payment to approximately 400/month

Just so you understand the risk of doing that ...

era123

Michaell said:

era123 said:

Can anyone provide numbers for FWD EX-L with Sensing in South Florida?

What lease term and how many miles per year?

12k miles, 36 or 39 months

Michaell

era123 said:

Can anyone provide numbers for FWD EX-L with Sensing in South Florida?

What lease term and how many miles per year?

12k miles, 36 or 39 months

.00165 and 62% for 36/12. Subtract 2% for  39/12. 

era123

The quotes I'm getting from dealers are outrageous. $37995 car, $2k off MSRP and $590/month with nothing out of pocket.

Michaell

era123 said:

The quotes I'm getting from dealers are outrageous. $37995 car, $2k off MSRP and $590/month with nothing out of pocket.

Check out the Infiniti QX60 - some pretty good deals to be had on leasing those.

jrt123

Thanks for your advice

era123

Michaell said:

era123 said:

The quotes I'm getting from dealers are outrageous. $37995 car, $2k off MSRP and $590/month with nothing out of pocket.

Check out the Infiniti QX60 - some pretty good deals to be had on leasing those.

Hah I've been posting in that thread too. I still can't get very far on those either.

atos2012

Please can i get the numbers for 2016 Pilot EX AWD 36/39 10k zip code 94568.

Michaell

atos2012 said:

Please can i get the numbers for 2016 Pilot EX AWD 36/39 10k zip code 94568.

62% and .00165 for 36/12 - no 10k leases from Honda. Subtract 2% for 39 months.

drdrakeramore

Hi Michaell, same numbers in Colorado? Actually, the specific question is: what are the rates for a Honda Pilot EX-L AWD in Colorado, for 12k/36 months. Thanks for all the help! 

Michaell

drdrakeramore said:

Hi Michaell, same numbers in Colorado? Actually, the specific question is: what are the rates for a Honda Pilot EX-L AWD in Colorado, for 12k/36 months. Thanks for all the help! 

.00165 and 62% for 36/12 on EX-L AWD

era123

So what is it that makes the Pilot so weak on leases? Is it the MF? $550/month for a $37k car is insane.

Michaell

era123 said:

So what is it that makes the Pilot so weak on leases? Is it the MF? $550/month for a $37k car is insane.

 A very high money factor relative to its competitors makes the pilot an unattractive vehicle to lease  To lease

era123

Can you lease the Pilot through anyone other than Honda Financial? How much does the MF impact the payment? Is it $10/month, $50/month or $100/month (roughly)?

Michaell

era123 said:

Can you lease the Pilot through anyone other than Honda Financial? How much does the MF impact the payment? Is it $10/month, $50/month or $100/month (roughly)?

Dealers are free to choose which bank they use to finance leases, though most choose Honda Finance.

The impact of the MF depends on the MSRP and selling price. Other banks will also use different residual percentages to balance out the deal.

But, let's use an example using totally fictional numbers.

MSRP = $40,000
Net Cap Cost = $37,000

MF of .00165 and residual of 55% for 36/12 gives a pre-tax payment of $514/mo

MF of .00120 and residual of 51% for 36/12 gives a pre-tax payment of $530/mo

So, you'd have to obtain all the numbers and compare them to see which gives you the best deal.

Generally, 3rd party banks are tougher on damage at lease end; Honda Finance may be more lenient as they want you to lease or purchase another Honda through them.

era123

Michaell said:

era123 said:

Can you lease the Pilot through anyone other than Honda Financial? How much does the MF impact the payment? Is it $10/month, $50/month or $100/month (roughly)?

Dealers are free to choose which bank they use to finance leases, though most choose Honda Finance.

The impact of the MF depends on the MSRP and selling price. Other banks will also use different residual percentages to balance out the deal.

But, let's use an example using totally fictional numbers.

MSRP = $40,000
Net Cap Cost = $37,000

MF of .00165 and residual of 55% for 36/12 gives a pre-tax payment of $514/mo

MF of .00120 and residual of 51% for 36/12 gives a pre-tax payment of $530/mo

So, you'd have to obtain all the numbers and compare them to see which gives you the best deal.

Generally, 3rd party banks are tougher on damage at lease end; Honda Finance may be more lenient as they want you to lease or purchase another Honda through them.

In your example, why did the residual change? What about those super low MFs such as .0001. How much does that change it in your example? I literally got a quote on a EXL w/ Sensing (37k car) for $580/month. That is outrageous. How many dealers go through third party companies? Is it common? Are the MFs usually lower? Totally understand what you are saying about the damage though.

Michaell

era123 said:

Michaell said:

era123 said:

Can you lease the Pilot through anyone other than Honda Financial? How much does the MF impact the payment? Is it $10/month, $50/month or $100/month (roughly)?

Dealers are free to choose which bank they use to finance leases, though most choose Honda Finance.

The impact of the MF depends on the MSRP and selling price. Other banks will also use different residual percentages to balance out the deal.

But, let's use an example using totally fictional numbers.

MSRP = $40,000
Net Cap Cost = $37,000

MF of .00165 and residual of 55% for 36/12 gives a pre-tax payment of $514/mo

MF of .00120 and residual of 51% for 36/12 gives a pre-tax payment of $530/mo

So, you'd have to obtain all the numbers and compare them to see which gives you the best deal.

Generally, 3rd party banks are tougher on damage at lease end; Honda Finance may be more lenient as they want you to lease or purchase another Honda through them.

In your example, why did the residual change? What about those super low MFs such as .0001. How much does that change it in your example? I literally got a quote on a EXL w/ Sensing (37k car) for $580/month. That is outrageous. How many dealers go through third party companies? Is it common? Are the MFs usually lower? Totally understand what you are saying about the damage though.

Each bank sets its own residual and MF - often they go hand in hand - lower residual, lower MF.

If I change the MF to .00010 and leave the residual at 51%, the payment becomes $467/mo.

At the moment, the Pilot has a high MF (.00165) and reasonably low residuals, to approximate the true value of the vehicle at the end of the lease. Other brands will have artificially high residuals to maintain a lower lease payment.

Most dealers use the captive (manufacturer) bank. The only one that doesn't are Chrysler / Dodge / Jeep dealers, but they offer large cash incentives to use 3rd party banks, to help offset the higher MF and lower residual these 3rd party banks use.

era123

Michaell said:

era123 said:

Michaell said:

era123 said:

Can you lease the Pilot through anyone other than Honda Financial? How much does the MF impact the payment? Is it $10/month, $50/month or $100/month (roughly)?

Dealers are free to choose which bank they use to finance leases, though most choose Honda Finance.

The impact of the MF depends on the MSRP and selling price. Other banks will also use different residual percentages to balance out the deal.

But, let's use an example using totally fictional numbers.

MSRP = $40,000
Net Cap Cost = $37,000

MF of .00165 and residual of 55% for 36/12 gives a pre-tax payment of $514/mo

MF of .00120 and residual of 51% for 36/12 gives a pre-tax payment of $530/mo

So, you'd have to obtain all the numbers and compare them to see which gives you the best deal.

Generally, 3rd party banks are tougher on damage at lease end; Honda Finance may be more lenient as they want you to lease or purchase another Honda through them.

In your example, why did the residual change? What about those super low MFs such as .0001. How much does that change it in your example? I literally got a quote on a EXL w/ Sensing (37k car) for $580/month. That is outrageous. How many dealers go through third party companies? Is it common? Are the MFs usually lower? Totally understand what you are saying about the damage though.

Each bank sets its own residual and MF - often they go hand in hand - lower residual, lower MF.

If I change the MF to .00010 and leave the residual at 51%, the payment becomes $467/mo.

At the moment, the Pilot has a high MF (.00165) and reasonably low residuals, to approximate the true value of the vehicle at the end of the lease. Other brands will have artificially high residuals to maintain a lower lease payment.

Most dealers use the captive (manufacturer) bank. The only one that doesn't are Chrysler / Dodge / Jeep dealers, but they offer large cash incentives to use 3rd party banks, to help offset the higher MF and lower residual these 3rd party banks use.

Reasonably low residuals or high residuals?

This is such a bummer! The car is affordable, well put together and the packages make a lot of sense. It is so dumb it is more expensive to lease than an MDX.

Michaell

era123 said:

Michaell said:

era123 said:

Michaell said:

era123 said:

Can you lease the Pilot through anyone other than Honda Financial? How much does the MF impact the payment? Is it $10/month, $50/month or $100/month (roughly)?

Dealers are free to choose which bank they use to finance leases, though most choose Honda Finance.

The impact of the MF depends on the MSRP and selling price. Other banks will also use different residual percentages to balance out the deal.

But, let's use an example using totally fictional numbers.

MSRP = $40,000
Net Cap Cost = $37,000

MF of .00165 and residual of 55% for 36/12 gives a pre-tax payment of $514/mo

MF of .00120 and residual of 51% for 36/12 gives a pre-tax payment of $530/mo

So, you'd have to obtain all the numbers and compare them to see which gives you the best deal.

Generally, 3rd party banks are tougher on damage at lease end; Honda Finance may be more lenient as they want you to lease or purchase another Honda through them.

In your example, why did the residual change? What about those super low MFs such as .0001. How much does that change it in your example? I literally got a quote on a EXL w/ Sensing (37k car) for $580/month. That is outrageous. How many dealers go through third party companies? Is it common? Are the MFs usually lower? Totally understand what you are saying about the damage though.

Each bank sets its own residual and MF - often they go hand in hand - lower residual, lower MF.

If I change the MF to .00010 and leave the residual at 51%, the payment becomes $467/mo.

At the moment, the Pilot has a high MF (.00165) and reasonably low residuals, to approximate the true value of the vehicle at the end of the lease. Other brands will have artificially high residuals to maintain a lower lease payment.

Most dealers use the captive (manufacturer) bank. The only one that doesn't are Chrysler / Dodge / Jeep dealers, but they offer large cash incentives to use 3rd party banks, to help offset the higher MF and lower residual these 3rd party banks use.

Reasonably low residuals or high residuals?

This is such a bummer! The car is affordable, well put together and the packages make a lot of sense. It is so dumb it is more expensive to lease than an MDX.

Honda is having no problem selling or leasing every Pilot they build, so there is no reason for them to provide a lower MF as an incentive.

era123

Michaell said:

Honda is having no problem selling or leasing every Pilot they build, so there is no reason for them to provide a lower MF as an incentive.

Why are people getting Pilots over MDX?

Michaell

era123 said:

Michaell said:

Honda is having no problem selling or leasing every Pilot they build, so there is no reason for them to provide a lower MF as an incentive.

Why are people getting Pilots over MDX?

You'd have to ask them....

era123

Have there been any changes in Feb?

Michaell

era123 said:

Have there been any changes in Feb?

Nope.

samny1

Hi,

Could you please provide the Feb MF and RV for the AWD EX and EX-L both with sensing for 36 months 12K and 15K in NY?

Thank you,

SM

kyfdx

samny1 said:

Hi,

Could you please provide the Feb MF and RV for the AWD EX and EX-L both with sensing for 36 months 12K and 15K in NY?

Thank you,

SM

.00165 MF and 61%/59% residual for either model.

era123

kyfdx said:

samny1 said:

Hi,

Could you please provide the Feb MF and RV for the AWD EX and EX-L both with sensing for 36 months 12K and 15K in NY?

Thank you,

SM

.00165 MF and 61%/59% residual for either model.

So using these numbers on here http://www.edmunds.com/calculators/car-lease.html, selling the car for $34,000 with $0 down, I get $439/month. Why is everyone coming back in the high 500s.

kyfdx

era123 said:

kyfdx said:

samny1 said:

Hi,

Could you please provide the Feb MF and RV for the AWD EX and EX-L both with sensing for 36 months 12K and 15K in NY?

Thank you,

SM

.00165 MF and 61%/59% residual for either model.

So using these numbers on here http://www.edmunds.com/calculators/car-lease.html, selling the car for $34,000 with $0 down, I get $439/month. Why is everyone coming back in the high 500s.

I don't use the lease calculator..

What is the MSRP and selling price?

era123

37995 and I was just using 34,000 as selling.

samny1

kyfdx said:

samny1 said:

Hi,

Could you please provide the Feb MF and RV for the AWD EX and EX-L both with sensing for 36 months 12K and 15K in NY?

Thank you,

SM

.00165 MF and 61%/59% residual for either model.

Thank you

kyfdx

era123 said:

37995 and I was just using 34,000 as selling.

.00165 MF and 61% residual for 36/12

That's $395/mo.+tax.

But, you are assuming a $4K discount on a Pilot. Seems very optimistic.

Plus, you have to account for the $595 acquisition fee. If your assumption is a $2K discount, then add in the $595 fee, then you are at $471/mo.+tax..

alcap

I am looking to lease a 2016 Honda Pilot AWD Elite 36/12 or 36/10 looking for the money factor and residual value? I live in NJ also, would anyone know if this particular model is in low supply when I went to the dealer to see one and test drive they had none in stock and would not budge much off MSRP and this is one of the larger dealers in the state?
Alex

kyfdx

alcap said:

I am looking to lease a 2016 Honda Pilot AWD Elite 36/12 or 36/10 looking for the money factor and residual value? I live in NJ also, would anyone know if this particular model is in low supply when I went to the dealer to see one and test drive they had none in stock and would not budge much off MSRP and this is one of the larger dealers in the state?
Alex

.00165 MF and 58% residual for 36/12.

Pilots are popular and sell fast.

ebd4662

Can you please post the MF and RV % rates for a lease on the 2016 Pilot AWD EXL w/ RES for 36yr/12k miles in New York City area. Thank You

bananaero

Can you please post the MF and RV % rates for a lease on the 2016 Pilot AWD Touring for 36yr/15k miles in New York City area. Thank You

kyfdx

ebd4662 said:

Can you please post the MF and RV % rates for a lease on the 2016 Pilot AWD EXL w/ RES for 36yr/12k miles in New York City area. Thank You

.00165 MF and 61% residual

kyfdx

bananaero said:

Can you please post the MF and RV % rates for a lease on the 2016 Pilot AWD Touring for 36yr/15k miles in New York City area. Thank You

.00165 MF and 57% residual.

era123

Is there an MSD program on the Pilot?