Did I get a good deal on my Honda Pilot lease?

anninohio2

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?

Michaell

anninohio2 said:

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?

The MF ought to be .00175; not sure how it got knocked down.

What state is this? What is the tax rate?

How did the $3000 trade equity and $2500 cash at signing get applied to the deal?

The fees you mention are legit and part of any lease deal.