Honda Pilot Lease Questions

justaveragejoe

Most of the offers that I received had a note that stated the prices did not apply to leases. But you can always try to work that angle into the deal. I would at least tell then that are are also considering a lease so they will be ready to deal with you either way. All aspects of the lease should be negotiable, to a point.

ohcanada

I'm looking at a 36-month lease on a 2007 EX-L, AWD with the Rear Entertainment System. The MSRP is $35,440 and the invoice price is $31,968. I've been thinking about putting $1,000 down. Any responses would be much appreciated.

albertaa

I started shopping this week for a Honda Pilot LX lease. The best deal I've come across is $279/mo, 10K miles, 36 mo with no money down. Has anyone found a better deal?

albertaa

I just wanted to update the message above (#821). The annual mileage is 12K and is financed through Honda America Finance.

kyfdx

Hi.. took your post down.. That link goes nowhere..

Thanks,
kyfdx

justaveragejoe

I just tried the link in the Lease vs. Purchase (#315) and it worked fine for me. It launched the Excel worksheet. It gives a blank webpage but the application works.

That page was:

redline65, "Leasing vs. Purchasing" #315, 27 Apr 2006 1:57 pm

The spreadsheet is at:

http://h1.ripway.com/RedlineJunkie/Public/LeaseCalculator.xls

I am new to posting hyperlinks so let me know if they work. Here is another one:

http://www.carspace.com/justaveragejoe

kyfdx

Yeah... those work..

jpk1

I got the below internet quote in Michigan... is this a good deal (carman or anyone) -- or can I do better???

As a part of our year end blowout I can lease the 07 Pilot 4wd LX with a 3yr. 15k mi/yr lease with 1500 + plate due at signing

for just 295.82/mo. (tax included) with approved credit. This is for December only.

jpk1

String 822 (albertaa) -- did this include tax?

albertaa

No, it doesn't include tax, title or registration. Since then I've been quoted $276 with a selling price of $25,300.

smittymike19

Hey guys thanks for all of your helpful info regarding leasing a car. Car man or kyfdx could you let me know how i did... i havent signed yet, so i dont know if there will be any funny stuff at the dealer?

2007 exl (no nav or res)
Nimbus grey

msrp 33840 (incld dest of 595)
Invoice 30530 (includ dest of 595)
Purchase price 29430 (includes dest charge)
Residual value 17373
Lease terms are for 3 years 18k per year.
1500 due at signing, covers first payment, dmv fees and tax and tags etc...

Also i havent signed yet, what should i be looking for on the signing? Honda has no disposition fee, any thing else i should be aware of?

macho_p27

What is the monthly due on this lease ...looks too good to be true. Where did you get this deal?

smittymike19

i guess i forgot the most important part...
its 395 / month including the 7% sales tax.

memphis10

This is the offer they have on the Honda website for a Pilot LX 4WD.

"FEATURED SPECIAL LEASE: Closed-end lease for 2007 Pilot 4WD LX Automatic Transmission (Model YF1817EW) for $299.00 per month for 36 months with a $605.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $1,499.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee, capitalized cost reduction, security deposit. Security deposit waived in featured lease example. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

Subject to limited availability. Through 1/2/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2007 Pilot 4WD LX Automatic Transmission vehicles (Model YF1817EW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $28,990.00 (includes destination) less the suggested dealer contribution resulting in actual net capitalized cost $26,080.12. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $10,764.00. Option to purchase at lease end $16,814.20. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details."

Assuming I qualify for the tier 1 credit and a selling price of 24000 what should be my amount at signing and monthly payment. What are the things that are negotiable? What is a reasonable amount for acquisition fee and security deposit.

ekc

I have been quoted that leasing a Pilot with the promotion lease term would not qualify for a $800 factory to dealer incentive.

This means if I were to outright purchase a Pilot, then I could knock $800 off the best price as opposed to leasing one.

Has anyone hed a similar experience?

aelum

This the deal I am getting in NJ..Cap cost 32250
36 months, 12k a year. 1055 taxes, 299 dmv, 595 Bank fee, 185 Doc fee, 397 first month payment. 2531 initial payment.

Is this a decent deal? Please share your views.

pilothelp

I do not think so......see message 789 on a similar lease. I believe the Nav system and the RES system are close in price. The dealer in NJ was Joyce Honda.

aelum

Message 789 was

"Just leased a Pilot EX-L with rear DVD, MSRP $35,440.00....no money down and monthly payment of $392.00 before Tax. Dealer also paid last lease payment of $395.00 on existing lease.

paid $595.00 acquisition fee. Hope this helps. Honda Dealer was in Denville NJ."

I think both are preety close..my MSRP is $36,040..no money down and monthly payment of $394 before tax.

I will also have pay $595 acquisition fee and a $185 doc fee (this is only diff I think).

buhbump

I just got screwed by Plaza Mall Honda in Brooklyn. My fault I should have gotten everything in writing however,I believe this cast of characters would have found another way to F@#K me. The car business is a sad state of affairs when these people look for anyway they can to get over on somebody.

This is what I was quoted over the phone. The above vehicle in Nimbus Gray, 15k/yr-$399/month before taxes 36 month lease, $1199 due up front(1st month, doc fees, aq fee). Received the quote on Dec 27th, confirmed it the next day with the sales manager, submitted finance info, got the vin, insured the car, and was told that it would be availale for pickup the following day or next. Guess what, car didn't show up until Tuesday Jan 2nd and would be available for evening pickup. I have no way to get over to the dealership so the dealer offers to pay for a car service since "this has to be done today because the money factor changes tomorrow" which I still don't know if it did or not. So, I agree and take a car service over, (i pay, and the money will be deducted from my upfront payment-scam)meet the delivery guy, and the finance [non-permissible content removed]. The sales manager and the sales rep I originally spoke to are not there. I check out the car with the deliv guy and yes its what I asked for-great. I sit down with the finance tool and review the lease and thats when he tells me its for 12k a year and not 15k-I show him all my notes, he leaves to go talk to another crook, comes back with two stooges and right off they're confrontational,they both tell me no deal, they are rude and insulting. Tell me they checked with the sales liar (probably didn't even call the guy)I spoke to and he says no he quoted 12k. They refuse to show me the sales managers notes or let me talk to him. It gets heated, very heated,I should have walked but eventually agree to $414 because I just didn't want to start the whole process over again and didn't know for sure if the money factor was changing or not. I leave at almost 10pm, totally unhappy, pissed off, and disappointed in myself that I let these lowlife scumbags get the best of me.

I believe the whole thing was orchestrated from the getgo. I believe the car was there the whole time and they arranged for delivery the evening before the rates would change. The fact that I had to take a car service just reinforced their scam, not paying for it upfront so if I walk I'm out $30.

End of the day, I'm the [non-permissible content removed] for expecting people to be honorable, I'm the [non-permissible content removed] for not walking away from these crooks.

fletchedm

does anyone have an explanation for this? It doesn't seem to make sense from Honda Finance's perspective, but I have had 2 reps confirm the same information. Anyone??

kyfdx

I'm really surprised they would do it. I could understand if it were a zero cap reduction lease, and your payment was around $420 or so..

I would jump on it, if they agree..

fletchedm

Thanks, just making sure that I was thinking about it the right way. I will certainly post back when I go to do it, still have to wait a few months. I won't believe it until I have the contract in my hands!

-Fletch

faroyy

I live in NYC and I just leased a HONDA PILOT EX 07 I gave $ 800 dollars as a downpayment(aquisition fee + first month payment) and 350 a month for 36 month. MRSP is 30945.00

ekc

Could you tell us more about your deal?

Sales price? Miles/yr? Is it a 2WD?

What money factor and residual values were used?

Thx.

CarMan@Edmunds

Hi ekc. Honda Finance has its excess wear and tear guidelines listed right on its web site. The following page with give you a good idea as to what it considers to be excess wear: Honda Finance Self Inspection Reference Card. I have had leased several vehicles through Honda Finance and have found them to be very lenient when evaluating the lease-end condition of vehicles.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Hi Brules. The only way to avoid having to pay an excess mileage penalty at the end of your current lease would be to purchase your Pilot. Consumers who buy their leased vehicles don't have to pay excess mileage or excess wear and tear penalties. You may want to consider keeping your Pilot until the scheduled end of your lease and purchasing it from Honda Finance. You can finance its purchase price if you don't have the money to pay cash for it. Purchasing your Pilot at the end of your current lease and continuing to drive for a couple of years is probably your least expensive option.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Congratulations on your new truck, pgerber99. Thanks for taking the time to share the details of your deal with everyone. Enjoy!

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Hi memphis10. The selling prices of lease vehicles are negotiable, just as if you were paying cash for or financing them. You don't have to mislead the dealer that you are working with about the fact that you want to lease. Tell the dealer that you want to lease, but that you want to negotiate the selling price of your truck before you talk about its monthly payment. Honda is currently providing $1,500 dealer cash on the 2007 Pilot. this cash will help you to negotiate an attractive selling price.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Hi ohcanada. I would be happy to estimate what this truck's lease payment should be for you. Honda is currently providing $1,500 dealer cash on the 2007 Pilot. Let's say that you were able to get one for $500 over invoice. That would put its capitalized cost at $1,000 under invoice, or $30,968. Using this price and an MSRP of $35,440, I estimate that the zero down, pre-tax monthly payment for a 36 month lease of a 2007 Honda Pilot EX-L AWD with the entertainment system and 15,000 miles per year would be $493.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Hi jpk1. 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.

Car_man
Host
Prices Paid Forum

albertaa

I believe they were correct in stating that the car needed to be picked up by 1/2. I purchased my Pilot on 12/29 and told them I would only pick it up during the day. They agreed to have it ready on 12/30 by 2pm. They told me if I waited until after 1/2 the deal would expire.

I walked out of a previous dealership because of the antics. Next time don't bet mad, just walk. There are plenty of other dealers to buy from in our area. In any event, you probably got a pretty good deal. Enjoy the car.

faroyy

2007 HONDA PILOT EX 4WD 12000 MILES for year.The resiudal value is 18293.20 The GROSS Capitalized cost is 29443.66.I gave 800 down (350 first monthly payment+ aquisition fee)
I got this car december 19 2006

CarMan@Edmunds

Hi smittymike19. Unless I'm missing it (it is pretty early in the morning :surprise: ) you never mentioned this truck's lease payment. As you might suspect, it's difficult to give you an opinion on this deal without knowing what the payment is. For now I can tell you that the selling price that you were quoted for this truck is very attractive, especially given the fact that the $1,500 dealer cash that is available on it now was not around in December.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Ahhhh, the missing info. Thanks smittymike19. This looks like a very attractive payment to me. If you like the truck I hope that you pulled the trigger on this deal.

Car_man
Host
Prices Paid Forum

CarMan@Edmunds

Hi memphis10. Consumers need to pay special attention to two numbers when leasing, their vehicle's selling price and the money factor that is being used to calculate its monthly payment. These are the two main profit centers for dealers on leases. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Furthermore, most manufacturers' advertised lease payments leave a little meat on the bone so to speak in terms of vehicles' selling prices. Shop around and negotiate the lowest selling price that you can on this truck. If you are in an area that has a decent level of competition, I would not be surprised if you were able to get one right now for around $500 over dealer invoice minus the $1,500 dealer cash that Honda is providing on '07 Pilots. Once you have arrived at an attractive selling price, have the sealer that you're working with use Honda Finance's buy rate lease money factor to calculate its monthly payment. Honda Finance's current buy rate for a 36 month lease of a 2007 Pilot is .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

In answer to your question about the acquisition fee and security deposit, Honda Finance charges a $595 acquisition fee on every vehicle that it leases. You can either pay this charge at lease signing or roll it into your truck's capitalized cost. It also charges lessees a security deposit equal to their vehicle's monthly payment rounded up to the nearest $25 increment. Honda Finance will waive its security deposit requirement in exchange for an increase of .00010 in the money factor that is used to calculate your vehicle's monthly payment.

Car_man
Host
Prices Paid Forum

irish10

Hi Car_man. I new here, but have been monitoring this forum for a while. What a great tool for someone looking to buy. I have a question regarding leasing a new Pilot. I am looking to lease two new Pilot EX 4WDs and was just wondering if now would be a good time (with the $1500 dealer cash). Or should I wait until Honda runs a special lease rate? I was quoted last month (december) a purchase price of $28463 for each Pilot. This did not reflect the $1500 dealer cash. With zero down, which payment do you think would be cheaper, leasing now and taking the dealer cash, or waiting until the Honda introduces a better money factor on leases (and not getting any dealer cash)? Is there a big difference? I'm in no hurry. Thanks in advance.

CarMan@Edmunds

Welcome irish10. I'm glad that you find this discussion so helpful. It is difficult to say whether Honda's lease program will get better on the 2007 Pilot in the near future than it is right now. The $1,500 dealer cash that is currently available on it is scheduled to run through February 5th. I would not be surprised if Honda reintroduced a special lease money factor on it on 2/6, but there is no guarantee that it will. If I was in the market for this truck, I personally would be inclined to wait and see what its new February lease program looks like. Again though it is difficult to predict exactly what automakers will do with their future incentives.

Any price quotes that you got on the 2007 Pilot in December could not have taken the $1,500 dealer cash into account because it was not available then and dealers likely did not know that it was going to be introduced.

Car_man
Host
Prices Paid Forum

lawnmower

i don't see any info about a 1,500 dealer cash for the 2007 pilot. Honda is only advertising .9-3.9 financing. is this a regional promotion? i live in New Jersey. Please help.

CarMan@Edmunds

Hi lawnmower. While manufacturers advertise customer cash incentives, they do not tell consumers about dealer cash incentives. Dealer cash is given directly to dealers to use as they please. They can share all, some, or none of it with a consumer who purchases a vehicle that it is available on. The fact that you know about the dealer cash should help you in your negotiations. This promotion is available nationally, not just in select regions.

Car_man
Host
Prices Paid Forum

lawnmower

Very interesting. I was actually quoted a purchase price of 25,700 for the 2007 EX model which is way below invoice and consumer reports bottom line price. Now I know why. However the lease price was very high. December was the month to lease. Got a quote of 360.00, 3yr,12,000 with 0 out of pocket except first payment and mv fee. I would have grabbed it but I still had 3 monthes left on my Pacifica lease and they really couldn't help me. You stated to another person that you would wait and see what the programs are in February. Do you think it is worth a gamble? Do you know of Hondas history when this happens? Do you think I should purchase with the low financing Honda is offering?

chapelthrill

My wife and I went into the Crown Honda dealership in Durham, NC yesterday to look at leasing a new Honda Pilot. I'd checked the dealer website the night before and saw the lease deal of $299/mo, 36mo, $1499 due at signing. It was for an LX, but I figured we'd go check it out and try to negotiate up to an EX and see what we could get.

We told the salesman who approached us what we were looking for and asked what he could do. He then disappeared for 20min, and came back to ask us if we wanted 4x4 or 4x2 :mad: So I reiterated what I'd already told him, and he disappeared again for 10min+. When he came back, he had numbers that were more than DOUBLE the lease deal on their website.

I told him again about the lease deal and asked him to confirm the rates. He then stated that they hadn't offered any Pilot lease deals recently and that we must have been mistaken. When I told him I'd seen it on the website, he told me I was wrong, turned his computer around and said "Uh, you're wrong...I'll show you" and went to the dealer's website to prove me wrong!! Turns out, they did change the website overnight, but he has the nuts to tell me "see, I told you....we don't offer deals that sweet on a Pilot, and you must've been looking at some other car. This is the best you're going to get." At this point things started to get heated as my wife and I both were pretty hacked that he was questioning our intelligence. He continued by saying "I've been doing this for 3yrs, I think I know what I'm talking about. Maybe you should look somewhere else if this isn't what you want."

At this point we were both ready to blow a friggin' gasket, so we told him he was a clown and just walked out.

I'd expect this behavior out of some shady used-car dealership, but not from one of the largest Honda dealers in the Triangle area. I just cannot believe a Honda dealer would allow their folks to act like this. I understand dealers change their rates and we happened to have bum luck with the timing, but this guy was lying through his teeth and was an arrogant jerk on top of that!

irish10

Lawnmower, For what it's worth, I believe your quote you found in December might re-appear in the near future. I have leased a few Hondas in my day and as a result, I pay attention to when certain vehicles go on special. The famous "$299/mo lease with $1499 due at signing for a Pilot LX" is a pretty standard lease special that is run several times per year. This deal was running in December and expired on the 2nd of January, I believe. Car_man, correct me if I am wrong, but what you really see during these specials is a special money factor. It is this money factor that will allow you to lease any model Pilot for cheaper than you could today, even with the dealer cash. Yes, the ever-changing money factors can alter your payment that much, which is why your latest quote on a lease was so high and the purchase price was low. Money factors seem to be more important than purchase price. Honda changes their offers monthly. Pay attention and when you see that "$299" deal pop up again...start shopping for your lease. The question remains as to when will Honda run it again? Nobody knows. My guess is February or March. The purchase price will be higher at that time, but your lease payment should be more affordable. If anybody out there has any idea when Honda will run a special lease rate on the Pilot, PLEASE SHARE.

lawnmower

Thanks Irish10. I'm still undecided whether to buy at the low price or wait to see about leasing. I have 3-4 dealers that are giving me prices so hopefully they will go even lower.This forum has beem so helpful. Has anybody chosen the CR-V over the Pilot? That was my first choice. Getting back to the lease, Honda is advertising 289.00, but for 42 monthes on the LX. NO THANKS. Any more input would be greatly appreciated.

hockeyfan22

Hi:

I am in the market for a 2007 Pilot EX-L AWD with running boards. I want to lease for 39 months, 12K per year, and $0.00 cap cost reduction. I was quoted the following deal in the Boston area…any feedback would be appreciated:

• Based on $33,840 MSRP ($30,580 dealer invoice) plus slightly less than $800 for running boards.
• $499/month including sales tax.
• $993 at inception for 1st month, acquisition, plates (0.00 security deposit)
• They will cut me a check for $880 to make the final two payments on my existing Explorer lease.
• I don’t know the details on what they are using for cap cost, money factor, etc.
• My credit should qualify for the best rates.

This seems a bit high from what I was reading in this forum, but it is down from their first offer of $548 including tax without the running boards. Should I beat them up some more? I am not sure I am getting the benefit of the $1,500 dealer cash.

Thanks.

oreng

Hi
I leased a 2007 Honda Pilot EX-L for 36 month.
Paid 2000$ down payment, and 400$ a month.

Is this cnsidered to be a good deal?

Thanks

pitt7

Hi -

Just got back from a dealer in northern CT. He offered $1500 or .9% for a 2007 Pilot EX-L w/RES ($30,300 before tax, tag, etc.). Has anyone been able to take advantage of both?

Thanks.

missy7222

Hi, I'm also in the market to lease a 2007 Pilot EX-L with DVD. My current lease (Odyssey) is up in April. I was recently told to wait until the a new lease program on the Pilot comes out which should be around February, hopefully. At that point I should be able to get this lease for around $350 or so a month with about $1000 down. This is info from Herb Chambers in Seekonk, MA. My current lease is for a 2004 Odyssey EX-L with DVD for only $262 a month, what a sweet deal, I guess I'll never see a deal like that again!!!!

Anyone else been told about lease specials coming out in February?

mrblonde49

I have never leased a car before but I have been trying to get up to speed the last few days.

I am looking at a EX-L w. NAV that's being quoted as follows:

"sale price 31,007
acqusition fee 595
total capital cost 31,602

inception fee : 1 st month payment ....
4 year dmv tag fee 334
new jersey tire fee 7.50
doc fee 185

capital cost reduction ..... total is 2,000.

42 month term, money factor is 0.00265 ( no security deposit required )
463,68 including tax for 12,000 miles, 20 cent per mile is charged over limit. residual value is 18,020.

480.56 including tax for 15,000 miles, residual value is 17,299.20"

The sell price, money factor look good, I would think 50% residual is good for 42 months, but I'm really not sure. The payments seem high to me, from what I have seen here...and from the Edmunds calculator, they are about $15 too high a month, regardless.

For me to get around $400 a month, I'd have to put down $4000, and that just doeesn't seem right. Any thoughts?

long_isl_crv

I leased a Pilot Ex at the start of Jan for $335 per month + $1200 down. At the time of the agreement, the dealer agreed to purchase the 03 CRV I was leasing, from AHFC.

Yesterday, I got a call from the dealer saying the residual value they received from AHFC was incorrect. It was $6000 short. They now want to unwind my lease and return back the CRV.

Has someone had any experience with this kind of situation?
If any of us wanted to return a leased car after 1 month, the dealer would tell me to fly a kite...

Thanks In Advance.

lawnmower

Car Man is the $1,500.00 dealer cash definitley coming to an end on Feb 5? As I stated earlier I really want to lease but I hope the programs get better. If I decide to buy the Pilot I might use my home equity line of credit. This way I will pay the amount as if I was financing then after 3 years sell the vehicle and pay off the loan and then start over. Does this sound good or crazy. I will follow your advice.