Did I get a good deal on my Honda Pilot lease?
Walked into a dealership for the very first time this week and leased a 2016 Honda Pilot EX-L for 36 months. Am second guessing my negotiating skills, and would love to know if I got a good deal. MSRP $38,605, I talked them down to $36,107, residual value $24,308, 8%tax. My trade-in value was $3000, I gave a down payment of $2,500, my monthly payment is $369.45, gap insurance is included. They said my $ factor was .00125, which I told them seemed more than double the average, but they said it was a non-negotiable number. When I said that my research told me it was negotiable based on my great credit, they said they wouldn't even know my credit score till after the offer was agreed upon and we were signing papers. I'm confused. There were lots of other fees which I am unclear about, as far as how they tie into any formula: doc fee $250, titling fee $38.50, lease acquisition fee $595, freight and destination $820. Several behind-the-scenes people came up to me throughout the grueling, all-day negotiation, and seemed pretty ticked-off. Maybe this means I did well?