Our 2004 Pilot lease is up and I'm looking to lease a new Pilot: 2007 Pilot 2WD EXL with RES, 36 months and 15,000 mi/yr. I'd appreciate it if you would let me know the money factor, residual and applicable incentives now available through Honda Finance?
Hi heshootshescor. Honda Finance is no longer providing lease support on the 2006 Pilot. As a result, if you were to lease one through it, you would have to use its standard lease program. While it is not great, I would not be surprised if Honda Finance's standard lease program for this model was still better than the programs that are available on it through independent banks right now. Just make sure that the dealer you are working with uses Honda Finance's current buy rate lease money factor of .00280 (for 36 months) to calculate your truck's monthly payment. You should be able to get this factor as long as you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. If this dealer won't let you use this money factor, you shouldn't have much trouble finding a dealer that will.
Hey hooops. Here's the info that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Honda Pilot EX-L 4WD with navigation with 15,000 miles per year are .00385 and 60%, respectively. The numbers for an otherwise identical 36 month lease are a much more reasonable .00280 and 53%. The Tahoe and Armada will probably cost a lot more to lease than a Pilot would right now. Let me know if you have any other questions.
Here you go, kywon. Honda still is not providing any lease support on the 2007 Pilot. I suspect that it will eventually have to introduce some, perhaps as early as later this year, but it is difficult to say exactly what manufacturers will do with their future incentives. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Pilot EX-L 2WD with navigation and 12,000 miles per year are .00280 and 51%, respectively.
Hello maplefl. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Pilot EX-L 2WD with the entertainment system and 15,000 miles per year are .00280 and 49%, respectively. This is Honda's standard lease program and it is not providing any cash support on the '07 Pilot either. This is a nice truck, but I suspect that it will be cheaper to lease later on this year or early next year. Of course, it's tough to predict exactly what automakers will do with their future incentives.
It's interesting to compare the residuals on the '07 2WD and 4WD EX-Ls with Navi:
EXL 4WD 3yr/15k = 53% EXL 2WD 3yr/12k = 51%
For some reason I was always under the impression that 4WD SUVs had lower residuals than 2WD. Seems like a no brainer to go with the 4WD. May I ask what the residual for an '07 4WD EXL-Navi 3yr, 12k miles/yr lease? I assume that the MF is going to be the same.
Today I got an email from a dealer telling me that there is now a special low money factor on Pilot leases. He said it is .00097, which he said is the equivalent of an interest rate of only 2.33%. Can you confirm this? Did Honda change the Pilot lease program mid-month? It was only a few days ago you reported a high money factor of .00280 and speculated that it wouldn't be until late this year or early next year before we see incentives.
I am actually targeting an Odyssey (roomier and better on gas), but I have been on the sidelines waiting for lease support in order to have a manageable all-inclusive monthly payment (i.e., no money down, tax and bank fee rolled in). So this guy is being practive and trying to sway me toward a Pilot, a 3-row Honda with lease support. It could be an alternative for me, which is why I have been tracking this forum.
I am no expert, but having been looking at Pilot leases, EXL's with 15K miles, I haven't been able to find any for under $500/month...where are you getting this deal? That is the kind of price I've been looking for but no one has been able to come close...
Car_man Wanting to confirm that I'm getting a good deal on my lease. Zero down 12,000 miles per year 36 mo. $400 over invoice $439 per month Any opinion or advice you have will be appreciated.
I am reporting back. It is indeed the case that Honda changed the leasing program on the Pilot mid-month in order to provide lease support in the form of low money factor of .00097 (which is equivalent to 2.3%. I put down a deposit yesterday on a 2007 Pilot EXL 4WD having a MSRP of nearly $34,000. Paying only the first month's payment + DMV fees up front, my monthly payment on a 36 month lease will be either $429 (for 12,000 miles per year) or $447 (for 15,000 miles per year). I am considering the mileage issue. I will take delivery within a week of so.
I am looking at a 07 Pilot EXL with leather, dvd, and sunroof, 4wd. I am being qouted $4500 down, $325 per month. 36, 39, or 48 month lease. I can really only afford about $2500 down. Can anyone comment on this. Am I being screwed? Am I crazy thinking that I can get it for only $2500 down at $325 per month...? Thanks.
Carman....is this a good deal....if i get it for $2500 down.
I am looking at a 07 Pilot EXL with leather, dvd, and sunroof, 4wd. I am being qouted $4500 down, $325 per month. 36, 39, or 48 month lease. I can really only afford about $2500 down. Can anyone comment on this. Am I being screwed? Am I crazy thinking that I can get it for only $2500 down at $325 per month...? Thanks.
I am reporting back again, for the last time. Took delivery yesterday of my new 2007 Pilot EXL with AWD. 36 months. 15,000 miles per year. Based on a sales price of $31,240 (representing a discount of $2,600 off of MSRP $33,840). All-inclusive monthly lease payment of $447. Sales tax (7.375%) and bank fee ($595) rolled into the monthly payment. Paid nothing up front other than first month's lease payment, DMV fees and $45 document fee. I am located in Westchester County, NY. Got internet quotes from several dealers and then got my preferred dealer to match the lowest one.
Lease deals with a low money factor of .00097 are still available to those who act quickly and take delivery by October 31. That's the equivalent of an interest rate of 2.3%. Makes a huge difference in the monthly lease payment. Anyone still on the sidelines thinking about leasing a Pilot, the time is NOW! Anyone who wants a Pilot but thinks it is too expensive based on previous quotes when there was no lease support, check back now and you will be pleasantly surprised. Prior to October 14, they were using a money factor equivalent to nearly 7% interest. Now the interest rate is only 1/3 of what it used to be. What they do with this leasing program on November 1 is anyone's guess. My guess is that this low money factor is here for only a limited time.
Got it in dark cherry with gray leather. Looks very sharp in dark cherry. It's a much deeper/darker red than the red used on the Pilot in the past.
"do you know the minimum credit score needed to quality for 2.3%? is it 700/720/740?"
I have no idea about the minimum credit score. I don't even know what my credit score is, though I think it should be perfect (whatever number that is). It never came up as an issue. Sorry.
I saw that Honda has a special promotion on a Honda Pilot for $159 a month, but that is only for the 2WD LX and need to pay 10% of MSRP. My wife is interested in the Honda Pilot 4WD EX-L with navigation. What is the best lease price for 3 years 12K miles in the Boston, MA area?
I am willing to put 4 or 5K down for lease payment.
"Anyone know if the 2.3% is still being offered post-10/31?
Yup, it is, according to my salesperson. I couldn't help but ask him today while talking to him about something else. I jumped in right away at the first sign of lease support in mid-October, but I ended up having to make 2 car payments in October - last payment on the 2004 Odyssey I returned and first payment on the 2007 Pilot I just leased. Little did I know I could have waited it out until November and got the same great lease deal. Oh well. I didn't have the guts to wait it out to my expiration date. They could have pulled the plug on the 2.3% lease support as of October 31.
I plan to start a new lease and put $0 down. What is the general thinking on the fees/deposit/added costs? Should i fold these into the monthly payment? Or pay those upfront? thanks.
My advice is to fold them all in. Pay nothing up front except your first month's payment (and DMV fees if they won't roll them in because they're unsure how much it will be). Any money you pay up front on a lease is at risk. Take the worst case example of the vehicle being stolen or totaled soon after you get it. The insurance proceeds would go to the leasing company and you'll be back at a dealership negotiating the lease of a replacement vehicle with no money in your pocket. However much money you paid up front will be gone. I look at all money on the front of a lease in the same way. Makes no difference to me the nature of the payments, be it down payment or cap cost reduction, be it sales tax, be it bank fee or acquisition fee, or be it some miscellaneous dealer fee. Of course this approach results in a monthly payment which is high as can be. But it is a safe approach, because anything you do to drive down your monthly payment can come back to bite you in the [non-permissible content removed].
Just leased today, a 2007 Pilot EX 4WD, for 36 months, 12K with trade in of my '98 CRV (77,000 miles poor to average condition, trade in values on paper was $ 5,200) no cash up front accept for plates & title. My lease payments are $ 290 / month. This seemed like a good deal, not positive...
No problem, kywon. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot EX-L 4WD with navigation 12,000 miles per year are .00097 and 55%, respectively.
Hey davidd3. What you were told is correct. I knew that it was only a matter of time before Honda introduced an attractive lease program on the 2007 Pilot, Honda just decided to do a mid-program enhancement to introduce a special money factor rather than waiting until the scheduled end of its program like I thought it might. This new special money factor was originally introduced on October 14th. There's way too much competition in that segment of the market for Honda not to have a great lease on it.
Greetings 3wayhandshake. You never mentioned the selling price or MSRP of the Pilot that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
Hi stl1. $400 over invoice is a very good price for this truck. Let's use Honda's new special lease program for this truck to estimate a payment to compare to the one that you were quoted. According to my calculations, if you were to lease a 2007 Honda Pilot EX-L 4WD without navigation or the entertainment system with an MSRP of $33,840 and a selling price of $30,930 ($400 over invoice) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $382. This assumes that you qualify for Honda Finance's Super Preferred credit tier and pay a security deposit and a $595 acquisition fee at lease signing. If you opt to have your truck's security deposit waived, it would increase this payment to around $387. If you also add the acquisition fee into its cap cost so that you don't have to pay it at signing, it increases the monthly payment to around $404. If these payments are in line with your pre-tax payment you are in business.
Hello bvig. You never mentioned the selling price or MSRP of the Pilot that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are. When you post the price data, also make sure to mention whether this is a 2WD or a 4WD model.
Hey stl1. Why did the price that you had agreed upon change. That would really rub me the wrong way. How much more than $400 over invoice is the price that this dealer is trying to charge you?
Hi pilot25. At first glance, $299 a month is an attractive payment for this truck. However, in order to do a detailed analysis of this deal we really need to know how long this lease is and how many miles per year it allows. It would be even better if you were able to provide this truck's MSRP and selling price, too. Let us know and we'll tell you what we think.
Hi romas. The best way to determine if a lease if a good deal is to look at what a vehicle's selling price is in relation to its full MSRP. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. I know that you wouldn't walk in off the street and finance a vehicle without knowing what the dealer was charging you, not knowing what the selling price of a leased vehicle is is sort of the same thing. Let me know what these prices are and I will gladly tell you what I think of this deal. Talk to you soon.
$4,500 is way too much money to put down when leasing. You can and should lease any vehicle that you want without making any sort of capitalized cost reduction. I always advise consumers not to make down payments on leased vehicles. The main reason why I do so is if your leased vehicle is totaled in an accident or stolen and never recovered your down payment essentially disappears. Find out the MSRP and selling price of the truck that you want and I will be happy to use Honda Finance's actual lease program to calculate what the monthly payment would be on a zero down lease for you.
Congratulations on your new truck, davidd3. The Pilot is a great truck for the money. Honda extended the special money factor that it introduced on the Pilot in mid-October through December 4th. It usually has a fairly attractive lease program on this truck, so I personally don't think that there is any need for anyone else who is in the market for one to hurry. This truck's lease support is probably here to stay.
Hi dizzy007. The last time that I checked, consumers needed to have a credit score of 710 or higher to qualify for Honda Finance's "Super Preferred" credit tier.
Hi dizzy007. Through December 4th, Honda Finance's buy rate lease money factor for the 2007 Pilot EX 4WD is .00097 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. For consumers who opt to have their vehicle's security deposit waived, the factor will be .00010 higher.
Hi again, wmp4. I just wanted to let you know that the aforementioned special money factor is available on all 2007 Honda Pilot models, including the EX-L.
Hi Scott. I would be happy to estimate what the monthly payment should be for the truck that you are interested in. In order for me to do so though I need you to provide me with its MSRP and approximate selling price. If you don't know what its selling price is, you can just tell me its dealer invoice price and I can assume a certain price over that. You can find the pricing data that you need by visiting the following section of this site: Edmunds.com - New Vehicle Pricing.
I just leased a Honda Pilot EX-L with navigation for 36 months 12K miles. We traded in a Honda Civic EX with 46,500 miles and they applied $6,500 to the lease and we got $1,500 cash check and they paid off $900 remaining on Honda loan. In other words, the valued the Honda Civic at $8,900. The total lease payment is $284.45, which includes tax, title, and all fees. Did I get a good deal?
When they figured out the lease they made the total price of the Honda Pilot to be $33,200 and the value at end of 3 years to be $19,288.
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Our 2004 Pilot lease is up and I'm looking to lease a new Pilot: 2007 Pilot 2WD EXL with RES, 36 months and 15,000 mi/yr. I'd appreciate it if you would let me know the money factor, residual and applicable incentives now available through Honda Finance?
Thanks.
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It's interesting to compare the residuals on the '07 2WD and 4WD EX-Ls with Navi:
EXL 4WD 3yr/15k = 53%
EXL 2WD 3yr/12k = 51%
For some reason I was always under the impression that 4WD SUVs had lower residuals than 2WD. Seems like a no brainer to go with the 4WD. May I ask what the residual for an '07 4WD EXL-Navi 3yr, 12k miles/yr lease? I assume that the MF is going to be the same.
Thanks so much.
Today I got an email from a dealer telling me that there is now a special low money factor on Pilot leases. He said it is .00097, which he said is the equivalent of an interest rate of only 2.33%. Can you confirm this? Did Honda change the Pilot lease program mid-month? It was only a few days ago you reported a high money factor of .00280 and speculated that it wouldn't be until late this year or early next year before we see incentives.
I am actually targeting an Odyssey (roomier and better on gas), but I have been on the sidelines waiting for lease support in order to have a manageable all-inclusive monthly payment (i.e., no money down, tax and bank fee rolled in). So this guy is being practive and trying to sway me toward a Pilot, a 3-row Honda with lease support. It could be an alternative for me, which is why I have been tracking this forum.
3yr lease, 45K miles, 1k out of pocket, $416.00 month including all taxes, gap insurance, ect.
This is my first lease so any insight would be helpful.
Wanting to confirm that I'm getting a good deal on my lease.
Zero down
12,000 miles per year
36 mo.
$400 over invoice
$439 per month
Any opinion or advice you have will be appreciated.
Negotiated a deal of $2000 total out of pocket, $440/month.
Is that any good?
2007 LX 4WD
299/month with no money down..
First time leaser so please let me know
329/mo
36 mos
12k/yr
1929 out of pocket (gap, NYC tax, 1st mo, license, etc)
Good deal of not? I don't know the cap cost, money factor used, residual and buyout price. Please advise. Would appreciate. Thanks!
Can anyone comment on this. Am I being screwed? Am I crazy thinking that I can get it for only $2500 down at $325 per month...? Thanks.
I am looking at a 07 Pilot EXL with leather, dvd, and sunroof, 4wd. I am being qouted $4500 down, $325 per month. 36, 39, or 48 month lease. I can really only afford about $2500 down.
Can anyone comment on this. Am I being screwed? Am I crazy thinking that I can get it for only $2500 down at $325 per month...? Thanks.
Lease deals with a low money factor of .00097 are still available to those who act quickly and take delivery by October 31. That's the equivalent of an interest rate of 2.3%. Makes a huge difference in the monthly lease payment. Anyone still on the sidelines thinking about leasing a Pilot, the time is NOW! Anyone who wants a Pilot but thinks it is too expensive based on previous quotes when there was no lease support, check back now and you will be pleasantly surprised. Prior to October 14, they were using a money factor equivalent to nearly 7% interest. Now the interest rate is only 1/3 of what it used to be. What they do with this leasing program on November 1 is anyone's guess. My guess is that this low money factor is here for only a limited time.
Got it in dark cherry with gray leather. Looks very sharp in dark cherry. It's a much deeper/darker red than the red used on the Pilot in the past.
The dealer didn't offer me the 2.3% that davidd3 got.
I have no idea about the minimum credit score. I don't even know what my credit score is, though I think it should be perfect (whatever number that is). It never came up as an issue. Sorry.
thanks.
I saw that Honda has a special promotion on a Honda Pilot for $159 a month, but that is only for the 2WD LX and need to pay 10% of MSRP. My wife is interested in the Honda Pilot 4WD EX-L with navigation. What is the best lease price for 3 years 12K miles in the Boston, MA area?
I am willing to put 4 or 5K down for lease payment.
Thanks,
Scott S.
Yup, it is, according to my salesperson. I couldn't help but ask him today while talking to him about something else. I jumped in right away at the first sign of lease support in mid-October, but I ended up having to make 2 car payments in October - last payment on the 2004 Odyssey I returned and first payment on the 2007 Pilot I just leased. Little did I know I could have waited it out until November and got the same great lease deal. Oh well. I didn't have the guts to wait it out to my expiration date. They could have pulled the plug on the 2.3% lease support as of October 31.
thanks.
Bob M
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When they figured out the lease they made the total price of the Honda Pilot to be $33,200 and the value at end of 3 years to be $19,288.
Thanks,
Scott S.