2016 Honda Pilot Lease Questions

kyfdx

jhern201 said:

Does the money factor and residual changes from month to month? My lease is due in July, I'm from New Jersey. What's the MF and residual for a 2016 Honda Pilot Touring AWD 36months/12Kyears? Thanks.

.00165 MF and 59% residual.

The current program runs through July 5th. The next program will probably have different numbers, but couldn't tell you what they might be.

yortiz

What is the residual for an EX-L with AWD and RES?

Michaell

yortiz said:

What is the residual for an EX-L with AWD and RES?

59% for 36 months, 15,000 miles per year

yortiz

Thanks.  Do I add 2% for 12,000 miles/year?

Michaell

yortiz said:

Thanks.  Do I add 2% for 12,000 miles/year?

Yes.

yortiz

Just wanted to share some information. I purchased a pilot yesterday and learned that the lease money factor for top tier credit is in fact .0018. Then if you waive the security deposit you add .0001 which makes it .0019 as someone mentioned this number in an earlier post. I told the sales manager that it should be .00165 and he disagreed. He showed me the document from Honda Financial Services that verified the money factors and was effective June 3, 2016.

Another item worth mentioning is that if you are a current owner or lessee of a 2006 Honda Odyssey or newer, there is $1,000 loyalty cash available to use toward a purchase or lease if you use HFS. I believe this only applies to the Pilot. So Odyssey to Pilot. You are not required to trade in your Odyssey. This incentive does not apply to zero down leases. This incentive is good through July 5th.

I will post my final deal shortly.

yortiz

I finally bought a Pilot EX-L AWD w/RES and here are the details:

MSRP $40,355
Adjusted Cap cost $37,829
MF .0019 (no security deposit)
Residual 61%
Monthly payment $486 + sales tax

$2,071.84 amount due at lease signing = $1,000 out of pocket + $1,000 (odyssey incentive cash) + $71.84 net trade. This covered first payment (including 8% tax) $524 + registration/doc fee/vehicle trf/tire fees $473 + cap cost reduction $995 + sales tax on cap cost reduction $80.

I traded my 2014 odyssey EX-L with 33,600 miles on it and 13 months remaining on my lease. I was way over on miles and it needed new tires! My payoff was $25,428 and they gave me 25,500 for it.

Overall I feel pretty good about the deal but I can't believe the Honda MF and what that translates into as far as rent charge. I most likely won't keep it for more than two years anyway.

It wasn't easy and I walked in on the last day of the month at 4:30 p.m. which may have helped in some way. I didn't have to buy new tires ($650), didn't have to pay for mileage overage and I'll be getting a refund ($414) on the payment I just made not reflected in the payoff.

Michaell

yortiz said:

I finally bought a Pilot EX-L AWD w/RES and here are the details:

MSRP $40,355
Adjusted Cap cost $37,829
MF .0019 (no security deposit)
Residual 61%
Monthly payment $486 + sales tax

$2,071.84 amount due at lease signing = $1,000 out of pocket + $1,000 (odyssey incentive cash) + $71.84 net trade. This covered first payment (including 8% tax) $524 + registration/doc fee/vehicle trf/tire fees $473 + cap cost reduction $995 + sales tax on cap cost reduction $80.

I traded my 2014 odyssey EX-L with 33,600 miles on it and 13 months remaining on my lease. I was way over on miles and it needed new tires! My payoff was $25,428 and they gave me 25,500 for it.

Overall I feel pretty good about the deal but I can't believe the Honda MF and what that translates into as far as rent charge. I most likely won't keep it for more than two years anyway.

It wasn't easy and I walked in on the last day of the month at 4:30 p.m. which may have helped in some way. I didn't have to buy new tires ($650), didn't have to pay for mileage overage and I'll be getting a refund ($414) on the payment I just made not reflected in the payoff.

Thanks for the information, and for sharing your deal details with us.

We've always assumed the standard MF for Honda was .00165, but we don't have any numbers in the documents we have.

zootsuit1

Any word on new numbers for post July 6th?

Interested in an AWD LX 36/12k. Thanks!

kyfdx

zootsuit1 said:

Any word on new numbers for post July 6th?

Interested in an AWD LX 36/12k. Thanks!

.00165 MF and 62% residual

bdudish23

Do you have July numbers for EX-L AWD and Touring AWD for WNY? 36/12 and 36/15 unless there is a better term. Thanks in advance.

Michaell

bdudish23 said:

Do you have July numbers for EX-L AWD and Touring AWD for WNY? 36/12 and 36/15 unless there is a better term. Thanks in advance.

36/15–.00165 and 60% or 57%. Add 2% for 12,000 miles

maudlin2001

Hi,
Can you please share residual value, money factor and any rebates for EX-L 2WD for FLorida.
36 months, 12K/yr

kyfdx

maudlin2001 said:

Hi,
Can you please share residual value, money factor and any rebates for EX-L 2WD for FLorida.
36 months, 12K/yr

.00175 MF and 63% residual

bergagio

Hello! Looking at a 2016 Touring in California. Do you have the MF/Residual for a 10k/year lease for 36mo? Thanks!

Michaell

bergagio said:

Hello! Looking at a 2016 Touring in California. Do you have the MF/Residual for a 10k/year lease for 36mo? Thanks!

I'll assume FWD.

Honda does not offer 10K leases; 12K is the minimum mileage.

36/12 for the Pilot Touring FWD is 60% and .00175

jhern201

Looking for updated numbers for the month of July.

I need residual and MF for a Pilot Touring AWD 36/12 and Pilot EXL AWD 36/12 out of New Jersey.

Thanks.

kyfdx

jhern201 said:

Looking for updated numbers for the month of July.

I need residual and MF for a Pilot Touring AWD 36/12 and Pilot EXL AWD 36/12 out of New Jersey.

Thanks.

.00175 MF and 59%/62% residual for Touring/EXL

hbacura

What are the current numbers for a pilot elite 15k/36 month

Michaell

hbacura said:

What are the current numbers for a pilot elite 15k/36 month

.00175 and 56%

zootsuit1

Dealership I was just at showed me on his screen the money factor quoted from their Honda internal site and it showed .0018 - BS or real deal? They said it was the MF for any car, not unique to the Pilot. Also they added on an additional .0001 for a no money down clause instead of a security deposit. Also real?

Last they quoted a 595 lease acquisition few- honestly these all seemed a little off to me- what do you guys think?

kyfdx

zootsuit1 said:

Dealership I was just at showed me on his screen the money factor quoted from their Honda internal site and it showed .0018 - BS or real deal? They said it was the MF for any car, not unique to the Pilot. Also they added on an additional .0001 for a no money down clause instead of a security deposit. Also real?

Last they quoted a 595 lease acquisition few- honestly these all seemed a little off to me- what do you guys think?

Every make has a "Standard" money factor. On the Pilot, it might not be far off. Of course, he could have shown you the same number for the Accord, and that would be way off, as the Accord MF is .00038

Adding .0001 is correct for waiving the security deposit. I'd make the deposit and get the .0001 back.

Might also try another dealer and see if you get a better response.

All Honda leases have the $595 acq.fee

eddieb21

Do you have July numbers for EX-L AWD for Pittsburgh, PA? 36/12 and 48/12. I'm looking at a price of $38,500 for my vehicle. What would be my monthly cost? Thanks!

Michaell

eddieb21 said:

Do you have July numbers for EX-L AWD for Pittsburgh, PA? 36/12 and 48/12. I'm looking at a price of $38,500 for my vehicle. What would be my monthly cost? Thanks!

.00175 and 62% / 53%

What is the MSRP?

eddieb21

MSRP is $40,355. Got price to $37,987. They told me they can only go to .0019 without a security deposit. Then, .0018, but would need a security deposit.
Does this sound correct?

kyfdx

eddieb21 said:

MSRP is $40,355. Got price to $37,987. They told me they can only go to .0019 without a security deposit. Then, .0018, but would need a security deposit.
Does this sound correct?

It's very close to what we have heard. We've never heard of a Honda dealer marking up the money factor, so I would tend to believe them. Plus, the difference is minimal.

zootsuit1

kyfdx said:

eddieb21 said:

MSRP is $40,355. Got price to $37,987. They told me they can only go to .0019 without a security deposit. Then, .0018, but would need a security deposit.
Does this sound correct?

It's very close to what we have heard. We've never heard of a Honda dealer marking up the money factor, so I would tend to believe them. Plus, the difference is minimal.

Went to one last night who quoted me .0023 - not unheard of. Dealers can be sleazy however they want to be

eddieb21

Update on my transaction. The salesman told me the monthly cost after changing the money factor to .0019. I agreed. Then, I signed the lease agreement, but didn't look at the selling price since we already had agreed on the price to be $37,987. I looked at everything else. I noticed the next day while looking over the agreement again that the finance manager changed the purchase price to $38,285 without ever telling me. I was outraged. I called and spoke to the finance manager and had a discussion and he said that anything the salesman says to me verbally doesn't matter and that he changed the price since I was fine with the new monthly amount. I told him that I was fine with it based on the agreed upon amount in the email they sent to me. Told the salesman he was sleazy and asked how he can look at himself in the mirror?
I then spoke with the general manager and explained to him the entire story. He said basically the same thing that the salesman said. That was no surprise. I asked him if it is a common practice for their dealership to change the purchase price without telling their customers and he said he would not answer that question. I told him that he did just answer that question by telling me he would not answer it and it's people like him and the salesman who give car dealers a bad reputation. I will be contacting Honda consumer affairs and also telling my story in many different places on the internet.
The dealership is named Valley Honda and it's located in Monroeville, PA.

Michaell

eddieb21 said:

Update on my transaction. The salesman told me the monthly cost after changing the money factor to .0019. I agreed. Then, I signed the lease agreement, but didn't look at the selling price since we already had agreed on the price to be $37,987. I looked at everything else. I noticed the next day while looking over the agreement again that the finance manager changed the purchase price to $38,285 without ever telling me. I was outraged. I called and spoke to the finance manager and had a discussion and he said that anything the salesman says to me verbally doesn't matter and that he changed the price since I was fine with the new monthly amount. I told him that I was fine with it based on the agreed upon amount in the email they sent to me. Told the salesman he was sleazy and asked how he can look at himself in the mirror?
I then spoke with the general manager and explained to him the entire story. He said basically the same thing that the salesman said. That was no surprise. I asked him if it is a common practice for their dealership to change the purchase price without telling their customers and he said he would not answer that question. I told him that he did just answer that question by telling me he would not answer it and it's people like him and the salesman who give car dealers a bad reputation. I will be contacting Honda consumer affairs and also telling my story in many different places on the internet.
The dealership is named Valley Honda and it's located in Monroeville, PA.

I'm sorry to hear about your experience. Don't forget to write up a dealer review here at Edmunds ... link is in my signature block.

bigdee444

I was given a quote on a Honda pilot touring for $688 a month. I think that's pretty high based off these numbers, what do you think?

MSRP $42,070

Sale price $39,402

Residual 60%

Money factor .00190

36 months 12,000 miles a year

kyfdx

bigdee444 said:

I was given a quote on a Honda pilot touring for $688 a month. I think that's pretty high based off these numbers, what do you think?

MSRP $42,070

Sale price $39,402

Residual 60%

Money factor .00190

36 months 12,000 miles a year

That yields $457/mo.+tax.

Missing a lot of details, though.
How much due at signing?
State and tax rate?
Any extras?

bigdee444

 This is with zero down, and this is in Nevada with a 8.1% sales tax. I was told my rent charge came out to be $6938, and that my total amount to pay was $24589.

kyfdx

bigdee444 said:

 This is with zero down, and this is in Nevada with a 8.1% sales tax. I was told my rent charge came out to be $6938, and that my total amount to pay was $24589.

Something is really wrong with those numbers. None of that adds up.

jinjoo911

Hi what is the MF and residual for a 2016 Pilot EX-L with RES? I live in NJ. The price I was quoted was $38,462 with a monthly lease payment of $516. That number doesn't add up to me? What would be a good monthly payment based on the quoted price? Looking for 36mo/12K.

Michaell

jinjoo911 said:

Hi what is the MF and residual for a 2016 Pilot EX-L with RES? I live in NJ. The price I was quoted was $38,462 with a monthly lease payment of $516. That number doesn't add up to me? What would be a good monthly payment based on the quoted price? Looking for 36mo/12K.

61% and .00175.

Would need to know the MSRP to figure the payment.

jinjoo911

Michaell said:

jinjoo911 said:

Hi what is the MF and residual for a 2016 Pilot EX-L with RES? I live in NJ. The price I was quoted was $38,462 with a monthly lease payment of $516. That number doesn't add up to me? What would be a good monthly payment based on the quoted price? Looking for 36mo/12K.

61% and .00175.

Would need to know the MSRP to figure the payment.

MSRP is $40,355. Thanks!

Michaell

jinjoo911 said:

Michaell said:

jinjoo911 said:

Hi what is the MF and residual for a 2016 Pilot EX-L with RES? I live in NJ. The price I was quoted was $38,462 with a monthly lease payment of $516. That number doesn't add up to me? What would be a good monthly payment based on the quoted price? Looking for 36mo/12K.

61% and .00175.

Would need to know the MSRP to figure the payment.

MSRP is $40,355. Thanks!

I get $495/mo with those numbers.

Does that price quote include the taxes and fees, or are you planning to pay those up front?

jinjoo911

Michaell said:

jinjoo911 said:

Michaell said:

jinjoo911 said:

Hi what is the MF and residual for a 2016 Pilot EX-L with RES? I live in NJ. The price I was quoted was $38,462 with a monthly lease payment of $516. That number doesn't add up to me? What would be a good monthly payment based on the quoted price? Looking for 36mo/12K.

61% and .00175.

Would need to know the MSRP to figure the payment.

MSRP is $40,355. Thanks!

I get $495/mo with those numbers.

Does that price quote include the taxes and fees, or are you planning to pay those up front?

It doesn't include taxes and fees.

Michaell

jinjoo911 said:

Michaell said:

jinjoo911 said:

Michaell said:

jinjoo911 said:

Hi what is the MF and residual for a 2016 Pilot EX-L with RES? I live in NJ. The price I was quoted was $38,462 with a monthly lease payment of $516. That number doesn't add up to me? What would be a good monthly payment based on the quoted price? Looking for 36mo/12K.

61% and .00175.

Would need to know the MSRP to figure the payment.

MSRP is $40,355. Thanks!

I get $495/mo with those numbers.

Does that price quote include the taxes and fees, or are you planning to pay those up front?

It doesn't include taxes and fees.

So, roughly $20/mo, or just over $700 for the lease.

Acquisition fee?

70sschevelle

Looking for current MF and residual for a 2016 Awd pilot ex-l for a 3 year lease with 12,000 miles.  I live in Illinois, just outside Chicago.  Thank you! 

kyfdx

70sschevelle said:

Looking for current MF and residual for a 2016 Awd pilot ex-l for a 3 year lease with 12,000 miles.  I live in Illinois, just outside Chicago.  Thank you! 

.00175 MF and 62% residual

scottc3

Here's a real uneducated question so forgive me: is it ever more financially beneficial to lease over buy? The two times (in the last 30 years) I looked into leasing, when I do the math, it's always been to my advantage to pay cash for a car. I recently had a Kia dealer show me the math, I was ahead $1600 I'd I paid cash - and I tend to keep cars for 10+ years. His example was to lease, but pay 1/2 the lease up front ($21k) and then in 18 months pay the balance off. His thinking was that if I could invest the balance for 18 months and make over $1600 I'd be ahead of the game. Sure, but where do I invest 21k for 18 months and get $1600+ back in profit - and that's just to break even. I'd need $2k+ to make it worth my while and then there is the risk that my investment does not grow and I lose money, costing me even more in the long term for the car.

I see, above, MF - what does this mean? .0000X? Something bout the interest on lease money? I have no,idea.

Thanks

Michaell

scottc3 said:

Here's a real uneducated question so forgive me: is it ever more financially beneficial to lease over buy? The two times (in the last 30 years) I looked into leasing, when I do the math, it's always been to my advantage to pay cash for a car. I recently had a Kia dealer show me the math, I was ahead $1600 I'd I paid cash - and I tend to keep cars for 10+ years. His example was to lease, but pay 1/2 the lease up front ($21k) and then in 18 months pay the balance off. His thinking was that if I could invest the balance for 18 months and make over $1600 I'd be ahead of the game. Sure, but where do I invest 21k for 18 months and get $1600+ back in profit - and that's just to break even. I'd need $2k+ to make it worth my while and then there is the risk that my investment does not grow and I lose money, costing me even more in the long term for the car.

I see, above, MF - what does this mean? .0000X? Something bout the interest on lease money? I have no,idea.

Thanks

If you keep your cars for 10+ years, continue to buy. Leasing only makes sense if you need / want a new car every three years.

I have a bit of car ADD, so leasing works for me. Keeps my budget simple, and my car is always under warranty.

My wife is more like you - so, she's got a Subaru that, if all goes well, we'll drive into the ground.

fd3s1994

Hi - can I get the latest money factor and residual value for an Elite on a 36 months/12K miles lease? I'm in Phoenix, AZ.

Thanks.

kyfdx

fd3s1994 said:

Hi - can I get the latest money factor and residual value for an Elite on a 36 months/12K miles lease? I'm in Phoenix, AZ.

Thanks.

.00175 MF and 58% residual

kmstivers

Hello. Looking for the latest MF and Residual on the following:
2016 Accord Sport SE
2016 Accord EX-L CVT
2016 Accord Touring

12K or 15K mi lease and 24 or 36 months

kyfdx

kmstivers said:

Hello. Looking for the latest MF and Residual on the following:
2016 Accord Sport SE
2016 Accord EX-L CVT
2016 Accord Touring

12K or 15K mi lease and 24 or 36 months

This is the Pilot discussion.

Accord discussion is here:
http://forums.edmunds.com/discussion/36784/honda/accord/2016-honda-accord-lease-questions#latest

searchinginsd

Residual value and MF of 2016 EX-L AWD in 57350? 

36/10
36/12

Incentives?

Thanks for any help!

searchinginsd

Also EX-L w/sensing if different?

yanks00249

What are the residual and MF for 2016 pilot awd exl with 10,000 miles per year and 36 or 39 months whichever is a better program on long island, NY?