Thank you Car Man and fellow posters. Was about to finance a purchase of a 2007 EX-L w/ Navigation. The sale price was $32,295 plus tax etc. at Honda's current 3.9% (3 year). In all it would be about $590/mo to purchase. I inquired, at the last minute, about leasing. The dealer (Bay Ridge Honda, Brooklyn NY) said it would be $519/mo plus $2,900 down (3 yr lease). He said the money factor was 00285. From what I have been reading, this sounded high. Comments, suggestions are kindly requested.
Hey descarga, the money factor is correct: 0.00285 is current money factor given by Honda Financial for 36 mo. lease, but your sale price could have been better. I was quoted 30807 (with destination, without tax)for 4WD EX-L with Navigation at DCH Paramus Honda. Right now is a good time to buy, rather then lease. I'm waiting for February 6 to see what deals will be available.
Thanks for the info c2h5oh. Can you confirm if the Paramus price included the special financing? My local dealer is saying that the nearly $1,500 difference is in lieu of the better finance rate, but they couldn't offer both... In other words, he'd reduce the sale price by $1,500 if I provided my own financing. - Descarga
Descarga, there was no talk about special financing, they provided me internet quote, which I confirmed by phone. As far as buyers like you and me concerned there is no $1500 financing - this is what Honda gives to the Dealership, which in turn allows dealer to ask price below invoice of $32,507. We must not forget that Honda also allows dealer's holdback, which is for 4WD EX-L+Nav. around 1064. So the bottom price for the model is equals $32,507 - ($1064 + $1500) = 29943. That is the number you base your negotiations on. As for low % financing, it is not connected to Honda-to-Dealer $1500 amount.
Thanks for the reply. I'm told that the dealer gets the $1,500 only if the buyer does not make use of the special apr financing. Contacted Paramus yesterday and they confirmed that if I used the 3.9 rate to finance then they could not honor the $30,800 price. If I opt for the good rate then the price was virtually the same as my prior quote. That's why the difference between our two prices was $1,488. Bay Ridge Honda's higher quote allowed for the special financing. Wish I was wrong...
Does anyone know what the knew Honda Pilot incentives are? Is the dealer cash gone? New lease factors for 36 month term? Web site only has Odyssey lease program listed. Someone please respond.
Hi hockeyfan22. Are you saying that this truck's selling price is dealer invoice? Even if it is, I believe that you can do better than that on a 2007 Pilot right now. Honda is currently providing $1,500 dealer cash on it. As a result, you should not have much trouble getting one for $500 to $1,000 under invoice. Make sure that you find out this truck's exact selling price and that it is below invoice before you agree to lease.
Greetings oreng. 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.
Unfortunately, pitt7, what the dealer that you spoke with told you is correct. The 0.9% to 3.9% special financing rates that Honda is currently offering on the 2007 Pilot are not available with the $1,500 dealer cash.
Hi missy7222. Unfortunately, Honda extended its January lease program on the 2007 Pilot unchanged through the end of February. It is currently scheduled to run through February 28th. It is difficult to say what Honda's March lease program for the Pilot will be like, but if its sales lag because its February program is not attractive enough it may reintroduce money factor support on it.
Welcome mrblonde49. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
For someone who has never leased before, you have done a great job at gathering a lot of the important information to evaluate when leasing. The two most important numbers to focus on are your vehicle's selling price and the money factor that is being used to calculate your monthly payment. Honda is currently providing $1,500 dealer cash on the 2007 Pilot. As a result, you should be able to negotiate a selling price that is $500 to $1,000 under invoice. You can look up the dealer invoice price of the exact truck that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing.
The other important number is your vehicle's money factor. Honda is not currently providing any money factor support on the 2007 Pilot. As a result, if you were to lease one through Honda Finance you will have to use its standard lease program. Honda Finance's current buy rate standard lease money factor for 42 month leases is .00260 for consumers who qualify for its "Super Preferred" credit tier with the payment of a security deposit at lease signing and .00270 with the deposit waived.
I see that you are considering making a large down payment on your lease. I always advise consumers against making down payments when leasing. Those who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
So those are the basics about leasing. Let me know if you have any other questions.
Hey lawnmower. No the $1,500 dealer cash that Honda was providing on the 2007 Pilot in January did not expire on February 5th. It was extended through the end of February. There's nothing wrong with using a HELOC to purchase your vehicle, other than the fact that you are only supposed to use the funds for your home . The fact that the interest on HELOCs is tax deductible is a nice perk. Of course, a HELOC leaves you vulnerable increases in interest rates.
Hello descarga. Honda is not currently providing any lease money factor support on the 2007 Pilot. As a result, if you were to lease one through Honda Finance, you would have to use its standard lease program. Honda Finance's current buy rate standard lease money factor for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing is .00275. This increases to .00285 if you want your vehicle's security deposit waived. So even though the money factor that the dealer you are working with quoted you is high, it is correct.
If you decide that you want to finance this truck, keep in mind that Honda Finance's latest special finance rate on it is 0.9% for up to 3 years and 3.9% for 4 to 5 years.
Hey lawnmower. Honda is still providing $1,500 dealer cash on the 2007 Pilot in February. It also is still not providing any lease money factor support on the '07 Pilot. As a result, if you were to lease one through Honda Finance right now you would have to use its standard lease program. Its current 36 month buy rate standard lease money factor is .00275 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Is it generally true that it is better to lease the highest trim level of a vehicle because of the higher residual value %, as this will mostly off-set the higher purchase price of the vehicle? Is it best to lease a vehicle at the beginning of a model year, because the residual value will decline as the year progresses?
Also, is there a site or program with up-to-date information regarding money factor and residual value available to the general public on various makes and models? This would help in determining the feasibility of leasing a given make/model and not squandering my time?
On a EX-L, MSRP of $33,840 and a negotiated price of $29,500, what would be a good lease on this Pilot for 36 months w/12 miles a year? Tax for NJ is 7%
Hi c2h5oh. Honda's current incentives are scheduled to run through February 28th. It is possible that Honda might introduce an enhancement to its current incentive program for President's Day. It has in the past, however usually all it does is run some sort of President's Day special financing program on most of its models and it already has 0.9% to 3.9% financing on the Pilot. If I had to make an educated guess, I'd say that Honda will not enhance the Pilot's lease program for President's Day weekend, but it is impossible to say exactly what Honda will do.
Hi Itchy4. I really haven't found the theory that you mentioned to be true. Vehicles' residual values vary from manufacturer to manufacturer. In fact, in a lot of instances, expensive options like navigation systems and rear entertainment systems actually hurt vehicles' residual values. Leasing a 2007 Pilot with navigation actually hurts its residual value, so not only will you have to pay for the cost of the option but the vehicle's residual value actually decreases.
Vehicles' residual values are the highest at the beginning of the model year. If you want to lease a model that has no lease support available on it then that is absolutely the best time to do so. On models that have support, manufacturers generally increase their level of support as the model year progresses. The end of the model year usually has the most support, but by that time vehicles' residual values are so bad that in many instances leasing is no longer attractive. As a result, somewhere in the early to middle of the model year cycle is usually the sweet spot for leases of most models. Unfortunately, I am not aware of any resource that provides accurate data on manufacturers' current lease programs to the general public.
Hi scottym. The dealer invoice price of a 2007 Honda Pilot EX-L 4WD without navigation or the entertainment system is $30,500. When the $1,500 dealer cash that is available on it right now is subtracted from that, we arrive at $29,000. That means that the price that you were quoted is around $500 over invoice, which is pretty good. Using the prices that you mentioned in your post and Honda Finance's current 36 month, 12,000 mile per year lease program, I estimate that this truck's zero down, pre-tax monthly payment should be around $443.22 if you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Car_man, my information that current AHFC residuals for Pilot 4WD EX-L with Navigation are %50 for 42 months and 53% for 36 months. Do you have the Residuals data for same car without Navigation system? As much as I like Rear View Camera which comes with Navigation System, I want to make sure it's not costing me too much during 42 months of lease.
Please tell me if this is an acceptable deal for an EX-L Leather/Navigation: $1500 down/36 months/12000 miles...466.37+tax. Our 2003 Pilot lease is up in a few minutes, and we went to pick up the internet- promised Pilot today, but of course they did not have it in stock, and the quote increased to this from $439 (at 42 months). Hard to figure out the deal with their number sheet- 36,040 MSRP/-$1800 "mark down"/adjusted residual $19,101/.00285 rate...is this the preferred rate, by the way? Appreciate any comments...thanks!
More info from Pontius: I did not include the selling price, now quoted at 30,707. The prior deal (1/31) was based on a selling price of $29,593. Upon our arrival today, we were told the price increased because as of 2/1 the Honda leasing deal had changed...I see from the other posts that this may not be the case.
I would like to know what I should be expecting in terms of a lease payment for a 2007 Pilot EX-L 2WD with NAVI. The dealer sent me an internet special of 29784.00 plus 3% tax, 398.00 document fee, and 74.00 registration fee. (It said that I could not combine it with the special finance offer from Honda). The MSRP is $34,145 with a dealer invoice of $30,744. Also, is this a good deal and is there room to lower the selling price? Many thanks for your help. This is a great resouce.
Hi c2h5oh. Even though I personally love having navigation in my vehicle, the added cost of the navigation system plus the impact that it has upon the Pilot's residual values make it a fairly expensive option to get. Honda Finance's current buy rate lease money factor and residual value for a 2007 Pilot EX-L without navigation with 15,000 miles per year are .00275 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical 42 month lease of this truck should be .00260 and 49%. Honda Finance's residual values for leases with only 12,000 miles per year are 2% higher.
Hi pontius. A change in Honda Finance's lease program should not have any impact upon your truck's selling price. It sounds like the dealer was just using the old bait-and-switch on you, quoting you one price to get you into the dealership and another higher price once you got there. If you are in an area that has a decent level of competition, you shouldn't have much trouble getting a 2007 Pilot for a couple hundred dollars over dealer invoice and then having the dealer subtract the $1,500 dealer cash that is currently available on it from that.
The money factor that you mentioned in your earlier post is right in line with Honda Finance's current buy rate for a lease of this truck with a waived security deposit.
Hi victornc. The selling price that you were quoted for this this truck looks very good to me. The dealer invoice price for a 2007 Pilot EX-L 2WD with navigation is $31,339. when one subtracts the $1,500 dealer cash that is available on the '07 Pilot right now from that, we cone up with $29,839...which is pretty close to the price that you were given. Let's work up a lease payment on this truck and see what we come up with. According to my calculations, if you were to lease a 2007 Honda Pilot EX-L 2WD with navigation that has an MSRP of $34,740 and a selling price of $29,784 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $484 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Thanks, Car_man. We are in NJ, with several dealers competing. No one else's monthly lease price seems to be as low as this dealer, but the sales price seems higher than what we are seeing here from other buyers. Here is what the dealer said when we referenced the Edmunds info, indicating that Edmunds TMV info not up to date:
The 42 month program did prove to be a slight bit better coming in at a payment of $443.00 plus tax. There is one other item that I also wanted to bring up as well. As of the first week of January, dealer holdback had changed as well as all invoice prices. Holdback as of Jan 3rd had been reduced to 2% of base MSRP on all vehicles. On top of that, there were also small changes to the invoice price as well. Invoice on the Pilot EX-L w/ Nav is currently $32,089.31(excluding destination).
Is the the right ballpark, or is it more "bait/switch"...the price quotes they give us change daily! Thanks again...
I heard from a Honda dealer that there are going to be better lease rates out next week on the Honda Pilot as part of the President's day celebration. GM and the liks are already starting to advertise their specials. Will wait and watch.
How did you come up with $484/month for this Pilot? I entered in the numbers on Honda's website, and it returned a lease rate of 560.62 per month.
Also, I was offered a sales price of $28030 for an EX-L ($29400 out the door if I finance). What kind of lease payment can I expect for 36/12,000 and 36/45,000 with Tier 2 (700 credit score) credit?
Just got a quote for 2007 Ex for 26,467 not including doc fee of 129.00 MV fees and 7% sales tax (1,553.00) OTD price would be 28,200. Does anyone have thoughts on this.Dealer is Paramus Honda in New Jersey. Thanks
I am looking to lease an EX-L for 36 months, 15k miles/year and no down payment (inception fees only). Does anyone know what the inception fees are and what the monthly should be? Thanks.
Closed the deal this evening on an EX-L w/running boards
Payment: $450.00. Vehicle price $29,272.23 Cap Cost Reduction: $788.88 Money Factor: .00230 36 Months, 36,000 total miles Security Deposit: $0.
I think it is a good deal. I had to close on it today since I did not have any other option. I would have preffered to wait and see if Honda would have any deals in March.
Kinda late. Found this site after I worked deal on my new Pilot. here are the details...
2007 Honda Pilot EX-L. No nav or entertainment system. Had running boards, chrome corner trims, enhanced luggage rack and all weather mats. Total price on car sticker+ the extras was $34,700.
I negotiated total price first...then work in my trade for a new price....then told them i wanted to lease. Well here is the details.
Unfortunately I had about $1200 negative equity on trade - they cover that.
I put down a total of $500.00 (total out the door). Got a 36 month lease 12,000 mile a year and
Total payments (with tax) are $468.55/mont I was at the dealership for 4+ hours working the deal. Left and went home a week before we they woudnt deal. Really in the end not sure what the final price I paid for the car - or if the bumped what I got for my trade.
Well what was the price and money factor you negotiated? The problem when you start adding on accessories, the price starts to get fuzzy in my opinion. I got the running boards for free. So all I had to deal was on the EX-L with no options. Even though the dealer kept saying it was a ridiculous deal, and since it was the last day of the month, he was ready to deal. Who knows how much of that is true. If you are satisfied with the deal, than it is a good deal. That is how I look at it.
Is there a special lease incentive on the 2007 AWD or FWD Pilot this month. Honda hasn't had a good lease since Dec. 2006. If anybody knows the current residual and $ factor for a 3 yr,12,000 mile,$0 out of pocket that would be great.
No problem, pontius. Ahhh, so the dealer was saying that this truck's pricing changed. Edmunds.com usually has pretty up to date pricing data. If I was in the market for a 2007 Pilot right now, I personally would look up its dealer invoice price in the New Vehicle Pricing section of this site and offer $500 or so over that price. You're in luck if you haven't leased this truck yet because Honda introduced a special lease program on it in your state, New Jersey, for the month of March. Negotiate as low a selling price as you can and then have the dealer that you are working with use Honda Finance's incredible regional buy rate lease money factor of .00004 to calculate your truck's monthly payment.
Hi Cecil. Interestingly for whatever reason, the lease calculators that are available on manufacturers' web sites usually tend to come up with lease payments that are too high.
Honda introduced a special regional lease program on the 2007 Pilot for the month of March. I believe that you mentioned that you are in North Carolina in a previous post. Unfortunately, this lease program is not currently available in that state. Instead Honda is offering $2,000 dealer cash or 0.9% financing for up to 3 years and 3.9% for 4 to 5 years on the '07 Pilot in your area.
If you want to lease this truck, you will have to use Honda's standard lease program. According to my calculations, if you were to lease a 2007 Honda Pilot EX-L 2WD with navigation that has an MSRP of $34,740 and a selling price of $28,030 through Honda Finance in your area right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $415 assuming that you qualify for Honda Finance's "Super Preferred" credit tier. If you qualify for the next credit tier down from that, your monthly payment will probably be $6 to $7 per month higher than that.
Hello lawnmower. How is the Pilot EX that you are interested in equipped? Does it have 2WD or 4WD? Does it have a cloth or a leather interior? If you give me a detailed description of the truck that you are interested in I would be happy to give you my opinion of the price that you were quoted on it. For now I can tell you to make sure that the dealer that you are working with uses Honda Finance's current special regional buy rate lease money factor of .00004 to calculate your truck's monthly payment.
Hi amenon. If you haven't leased yet, you may be able to do better than this. Honda introduced a special regional lease program on the 2007 Pilot for the month of March. I would be happy to let you know if this program is available in your area right now if you tell me what state you are in.
Greetings Mike. You never mentioned the selling price or MSRP of the car 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 car'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 do, also make sure to mention what state you are in. This is important because it will tell me if you are in an area that Honda's new regional special lease program for the 2007 Pilot is available in.
Hi mkbd. At lease signing consumers typically have to pay their vehicle's first month's payment, a security deposit that's equivalent to that payment rounded up to the nearest $25 or $50 increment, the acquisition fee that is being charged by the bank that you are leasing through (Honda Finance charges $595), and any required state taxes or fees.
I would be happy to estimate what your monthly payment for the exact truck that you are interested in should be, but in order for me to do so I need some additional information from you first. This info includes its full MSRP, its selling price, and what state you are in. Let me know and I'll crunch some numbers for you.
Hi lawnmower. Honda introduced a very attractive lease program on the 2007 Pilot for the month of March. Unfortunately, it is only available in certain states. If you let me know what state you are in I would be happy to tell you if this program is available in your area. Through the special regional lease program Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Pilot EX 4WD with 12,000 miles per year are .00004 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier. The money factor for an otherwise identical lease of a Pilot EX 2WD would be the same, but its residual value is only 53%.
Thanks for that info Car_Man, Can you tell me if this MF is available in Indiana, Michigan (Lower), and Illinois (Chicago)? I was recently quoted that MF (.00004) in IN, but their purchase price was $2300 over invoice! That's insane. Has anybody out there got any quotes with this MF and a purchase price closer to invoice? Seems like the payment should be around $328 with zero down on the EX 4WD (3yr/36mo).
I live in NJ. I got a purchase price on this vehicle of 26,903 at the end of Feb.Would the lease price include the current dealer incentive? Also the current lease incentive only has 10,000 miles per year. Does the residual change with the different mileage (10,000-12,000). So with all this said what would be the approx. monthly payment be for a 36 month $0 out of pocket and 7% tax included. Please provide prices for both the 10,000 and 12,000 miles.When does this program expire. Thanks.
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Was about to finance a purchase of a 2007 EX-L w/ Navigation. The sale price was $32,295 plus tax etc. at Honda's current 3.9% (3 year). In all it would be about $590/mo to purchase.
I inquired, at the last minute, about leasing. The dealer (Bay Ridge Honda, Brooklyn NY) said it would be $519/mo plus $2,900 down (3 yr lease). He said the money factor was 00285. From what I have been reading, this sounded high.
Comments, suggestions are kindly requested.
Can you confirm if the Paramus price included the special financing?
My local dealer is saying that the nearly $1,500 difference is in lieu of the better finance rate, but they couldn't offer both...
In other words, he'd reduce the sale price by $1,500 if I provided my own financing.
- Descarga
That's why the difference between our two prices was $1,488. Bay Ridge Honda's higher quote allowed for the special financing. Wish I was wrong...
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For someone who has never leased before, you have done a great job at gathering a lot of the important information to evaluate when leasing. The two most important numbers to focus on are your vehicle's selling price and the money factor that is being used to calculate your monthly payment. Honda is currently providing $1,500 dealer cash on the 2007 Pilot. As a result, you should be able to negotiate a selling price that is $500 to $1,000 under invoice. You can look up the dealer invoice price of the exact truck that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing.
The other important number is your vehicle's money factor. Honda is not currently providing any money factor support on the 2007 Pilot. As a result, if you were to lease one through Honda Finance you will have to use its standard lease program. Honda Finance's current buy rate standard lease money factor for 42 month leases is .00260 for consumers who qualify for its "Super Preferred" credit tier with the payment of a security deposit at lease signing and .00270 with the deposit waived.
I see that you are considering making a large down payment on your lease. I always advise consumers against making down payments when leasing. Those who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
So those are the basics about leasing. Let me know if you have any other questions.
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If you decide that you want to finance this truck, keep in mind that Honda Finance's latest special finance rate on it is 0.9% for up to 3 years and 3.9% for 4 to 5 years.
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Is it generally true that it is better to lease the highest trim level of a vehicle because of the higher residual value %, as this will mostly off-set the higher purchase price of the vehicle? Is it best to lease a vehicle at the beginning of a model year, because the residual value will decline as the year progresses?
Also, is there a site or program with up-to-date information regarding money factor and residual value available to the general public on various makes and models? This would help in determining the feasibility of leasing a given make/model and not squandering my time?
Much appreciated,
Itchy4
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Vehicles' residual values are the highest at the beginning of the model year. If you want to lease a model that has no lease support available on it then that is absolutely the best time to do so. On models that have support, manufacturers generally increase their level of support as the model year progresses. The end of the model year usually has the most support, but by that time vehicles' residual values are so bad that in many instances leasing is no longer attractive. As a result, somewhere in the early to middle of the model year cycle is usually the sweet spot for leases of most models. Unfortunately, I am not aware of any resource that provides accurate data on manufacturers' current lease programs to the general public.
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Our 2003 Pilot lease is up in a few minutes, and we went to pick up the internet- promised Pilot today, but of course they did not have it in stock, and the quote increased to this from $439 (at 42 months). Hard to figure out the deal with their number sheet- 36,040 MSRP/-$1800 "mark down"/adjusted residual $19,101/.00285 rate...is this the preferred rate, by the way? Appreciate any comments...thanks!
The prior deal (1/31) was based on a selling price of $29,593. Upon our arrival today, we were told the price increased because as of 2/1 the Honda leasing deal had changed...I see from the other posts that this may not be the case.
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The money factor that you mentioned in your earlier post is right in line with Honda Finance's current buy rate for a lease of this truck with a waived security deposit.
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The 42 month program did prove to be a slight bit better coming in at a payment of $443.00 plus tax. There is one other item that I also wanted to bring up as well. As of the first week of January, dealer holdback had changed as well as all invoice prices. Holdback as of Jan 3rd had been reduced to 2% of base MSRP on all vehicles. On top of that, there were also small changes to the invoice price as well. Invoice on the Pilot EX-L w/ Nav is currently $32,089.31(excluding destination).
Is the the right ballpark, or is it more "bait/switch"...the price quotes they give us change daily! Thanks again...
How did you come up with $484/month for this Pilot? I entered in the numbers on Honda's website, and it returned a lease rate of 560.62 per month.
Also, I was offered a sales price of $28030 for an EX-L ($29400 out the door if I finance). What kind of lease payment can I expect for 36/12,000 and 36/45,000 with Tier 2 (700 credit score) credit?
Thanks for your reply!
Cecil
Acquisition fee: 250
Money factor: .00248
Vehicle Selling Price: 29,621.31
Residual:$17,258.20
Documentation Fee: 180
Title/Plate: 23
Running boards 724 installed
Is this a good deal or can I do better?
Residual:$17,720.20
42 months
$383 per month
taxes & fees upfront
2,500 downpayment (total upfront 5K)
Please let me know what you think..
Mike
Payment: $450.00.
Vehicle price $29,272.23
Cap Cost Reduction: $788.88
Money Factor: .00230
36 Months, 36,000 total miles
Security Deposit: $0.
I think it is a good deal. I had to close on it today since I did not have any other option. I would have preffered to wait and see if Honda would have any deals in March.
2007 Honda Pilot EX-L. No nav or entertainment system. Had running boards, chrome corner trims, enhanced luggage rack and all weather mats. Total price on car sticker+ the extras was $34,700.
I negotiated total price first...then work in my trade for a new price....then told them i wanted to lease. Well here is the details.
Unfortunately I had about $1200 negative equity on trade - they cover that.
I put down a total of $500.00 (total out the door). Got a
36 month lease
12,000 mile a year and
Total payments (with tax) are $468.55/mont I was at the dealership for 4+ hours working the deal. Left and went home a week before we they woudnt deal. Really in the end not sure what the final price I paid for the car - or if the bumped what I got for my trade.
Overal happy with the payment and terms of lease.
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Honda introduced a special regional lease program on the 2007 Pilot for the month of March. I believe that you mentioned that you are in North Carolina in a previous post. Unfortunately, this lease program is not currently available in that state. Instead Honda is offering $2,000 dealer cash or 0.9% financing for up to 3 years and 3.9% for 4 to 5 years on the '07 Pilot in your area.
If you want to lease this truck, you will have to use Honda's standard lease program. According to my calculations, if you were to lease a 2007 Honda Pilot EX-L 2WD with navigation that has an MSRP of $34,740 and a selling price of $28,030 through Honda Finance in your area right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $415 assuming that you qualify for Honda Finance's "Super Preferred" credit tier. If you qualify for the next credit tier down from that, your monthly payment will probably be $6 to $7 per month higher than that.
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I would be happy to estimate what your monthly payment for the exact truck that you are interested in should be, but in order for me to do so I need some additional information from you first. This info includes its full MSRP, its selling price, and what state you are in. Let me know and I'll crunch some numbers for you.
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Lucky for me I am in a state with the regional deal. The quote I have gotten for a EX-L AWD w/nav (list $36,040?) is:
$470/month (including taxes Indiana 6% paid each month)
36 months
15,000 miles/year
zero down
I am coming out of a 2003 Pilot lease so there is no security deposit. Does this sound like a good deal?
Thanks
HoosierJerry
Can you tell me if this MF is available in Indiana, Michigan (Lower), and Illinois (Chicago)? I was recently quoted that MF (.00004) in IN, but their purchase price was $2300 over invoice! That's insane. Has anybody out there got any quotes with this MF and a purchase price closer to invoice? Seems like the payment should be around $328 with zero down on the EX 4WD (3yr/36mo).