You can take your vehicle to Carmax, and they will appraise it for you. They will buy your car from you if you want even if you don't buy a car from them. We have had cars appraised there before. It is a fairly straightforward process, and it gives you an alternative to trading it at your dealer. Hope this helps.
Found this on the Honda site. 2006 Pilot EX 2-Wheel Drive Special Featured Lease Terms Certificate $289 per month for 42 months. $1,500 total due at signing. Can I walk out with this deal as is, or is there more I should know or ask? Thanks.
Bigedfrobk; Got it from Madison Honda in NJ, for a quick good online quote go to Open Road Honda, NJ website, I think they even beat Costcos price, and use that price to shop around. I leased instead of purchase because I only plan on having the vehicle a few years, and who knows Gas could be at $5 a gallon then, and there may be better mileage 8 person vehicles then. Presently with the lease deal on 2006, you could probably get the same lease deal as you can with 2005 pilot with the manf discount/market support.
Ugh, I don't know what to do? Refer to Message #48 above with the details of my proposed lease. Please, I value your expertise. I'm new to the "lease game". :sick:
Lease residuals for 42 month on the 06 Pilot EX-L with NAV are as follows:
42 MO @ 12,000/year = 55%
42 MO @ 15,000/year = 53%
If you lease I think American Honda Finance (AHF) charges $595 as acquition fee (GAP coverage fee) + TTL. Anything else is dealers pocket. As car_man had mentioned AHF is offering a good deal.
Ask your dealer about the Leadership Purchase Program. This is a good program for someone with excellent credit. AHF super preferred rate on this program is 2.88% (0.00120). If you don't want to keep the vehicle after 42 months, you simply return the vehicle, or you continue to make the same payments to AHF. However, the Interest rate will not be 2.88% after 42 months. You can refinance, and if you go thru a Credit Union, you get good interest rates and you will probably save couple of thousand bucks. My credit union offers 4.75% for 60mo, 5.24 for 72mo and 6.24 for 84mo. This is the lowest auto loan rate I have seen so far.
A 42 month lease would probably work out for me.....but I'd hate to be leaseing a vehicle that's no longer covered under warranty. For comparison purposes do you know what the 36 month residual is for 12k miles. Thanks in advance.
After some hard fought time at the dealership today I got them to acknowledge the October lease special. It is exactly as Car Man posted. Still haven't gotten the deal I want...but I'm getting closer
Thanks, flyerfan. Had a discussion with a finance manager who insisted that the October special is only valid on the '06 EX, not the EX-L, or EX-L with RES, etc. Not sure who to contact to get accurate information at this point. Any advice anyone could provide to point these folks in the right direction would be appreciated. Thanks in advance!
I did, maybe it will work for you. I got dealerships into a bidding war on the internet than I started calling my lowest bidders for lease prices. When I got the first one, I told him he was WAY off the others and asked which money factor he used. When he told me .00186, I informed him that the other quotes were probably lower because they used the OCT. special rates. He called me back a few minutes later with a new lower quote, and told me .00105 and .00115 were available if I had good credit, and that was on an 06 EX-L with NAV.
Carman, On the current Honda lease deal. My dealer is offering $1,500 off msrp for cloth, or 1,800 off for leather. ( the leather residual is less for 36 month -thought that was interesting), this becomes the purchase price. Does that sounds fair or like a good deal?
Also, I am new to the leasing game, but I assume that there will be more leasing deals on the Honda 06 soon? Will the sales slow down in auto industry, spur more lease deals in the short term? Or, is this the time to lease a Honda Pilot?
The overall deal, on top tier credit was $338.00 on a lx for 36 months 15K per, including everything taxes, etc. Just county taxes and first month payment when car is picked up? sound good, fair?
how about a 24 month lease, 15k per, for $373.00 ? better option?
could anybody tell me what would be money factors and residual factors for PILOT-EXL if to lease in October?
I am trying to see if I can get a better deal on 2005 or 2006 model. Purchase price of 3005 expected to be lower than 2006. However, money/residual for 2006 model better than 2005.
If I could, please , get an accurate numbers and as well as general recommendation, would be very nice!
Don't be fooled by the difference in monthly payment. If you intend to keep the vehicle I believe you'll still be ahead with financing long term. If you add the residual plus tax to buy vehicle at the end of the lease compared with financing the vehicle for the same term, the finance route will come out ahead - sorry.
Welcome bigedfrombk. 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.
Honda's lease program on the 2006 Pilot is pretty attractive right now, so leasing is definitely an option that you should consider. I can give you an idea of what your monthly payment would be like if you chose to lease this truck, however in order to do so I am going to need some additional information from you. This includes your truck's full MSRP (with the destination charge added in) and how long you want to lease it for.
Hi czer. The selling price that you were quoted for the Pilot that you are interested in looks good to me. Furthermore, the money factor that you were quoted to lease it is right in line with Honda Finance's base lease program. These are both good signs. I just calculated a lease payment on the truck that you are interested in and came up with the exact same pre-tax payment that you were quoted, $415.14. I see nothing wrong with the new vehicle aspect of this deal. You may be able to get more money for your Odyssey with another dealer or by selling it on your own though.
You're right about the 2005 Pilot having high lease money factors. Honda is no longer providing lease support on '05 Pilots. It replaced its special money factors on the '05 model with dealer cash. Honda Finance's current buy rate lease money factor and residual value for a 36 month, 15,000 miles per year lease of a 2006 Honda Pilot EX-L AWD should be .00105 and 59%, respectively if you have good credit and pay a security deposit. This is for a truck without the rear entertainment and navigation systems. I would be happy to use these numbers to estimate what the lease payment should be like on the exact truck that you are considering, however in order for me to do so I need you to provide me with its full MSRP (with the destination charge added in).
Hi flyerfan. If you were to lease a 2006 Honda Pilot EX-L with navigation through Honda Finance right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00105 and 59%, respectively assuming that you qualify for its top credit tier and pay a security deposit. With a typical lease through Honda Finance, at lease signing you would have to pay your vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, a $595 acquisition fee, and any required state taxes or fees. Any sort of dealer fee or doc fee is really nothing more than a way for dealers to add additional profit to deals. Many print up contracts that have large doc fees printed on them so consumers negotiate what they believe is a good price another couple hundred dollars with of profit gets snuck in. If the dealer that you are working with charges this sort of fee, look at your deal as a whole. If you feel as though the price that you are getting your truck for, including any fees, is less than or equivalent to the total price that you would have to pay at another dealer then go for it. If the total price for your truck seems a little high, you can always try to negotiate some more or shop around.
Hey lmueller. Honda Finance is providing the same special lease money factor on ALL 2006 Pilot models. Honda Finance's current buy rate lease money factor and residual value for a 36 month, 12,000 miles per year lease of a 2006 Honda Pilot EX-L w/RES 2WD should currently be .00105 and 61%, respectively assuming that you qualify for its top credit tier and pay a security deposit. Using these numbers and the prices that you mentioned in your post, an MSRP of $33,995 and a selling price of $31,390, I estimate that this truck should have a zero down, pre-tax monthly payment of $351. As you can see, the payments that you were quoted for this truck are way too high.
Hi mimeo. The 2006 Honda Pilot lease that Honda is currently advertising on its web site is a reasonable deal. You should be able to walk into any Honda dealer and get that deal. Like with most manufacturers' advertised lease payments though, I would not be surprised if you were able to negotiate a little lower selling price than the one that this lease is based upon. If you are able to do so, your truck's lease payment will end up being a little lower, before tax, than the advertised deal.
Hi dealingbob1. 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.
A typical 2006 Honda Pilot EX has around a $3,000 spread between its full MSRP and dealer invoice price. A $1,500 discount is a reasonable deal on this truck, but if you are in an area where there is a lot of competition for your business, I would not be surprised if you were able to get an even larger discount. For more feedback on this truck's price, make sure to stop by the following discussion: KarenS, "Honda Pilot: Prices Paid & Buying Experience" #, 6 Aug 2002 1:46 pm.
Honda's current lease program on the 2006 Pilot is already fairly attractive. It is difficult to say whether it will get any better if you wait to lease. If you are in the market for a new truck, I personally don't see any reason not to lease an '06 Pilot this month.
I would be happy to give you my opinion on the lease that you were quoted, however you never mentioned the selling price or MSRP of the truck 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.
Hi leto. you never mentioned how long you want to lease this model for or how many miles per year you need to be able to drive it, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Correct me if I am wrong. If you were to lease a 2006 Honda Pilot EX-L without the entertainment or navigation systems through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00105 and 59%, respectively assuming that you qualify for its top credit tier and pay a security deposit. Honda is no longer providing lease support on the 2005 Pilot. It replaced its special money factors on it with $1,500 dealer cash. You can still lease one through Honda Finance using its standard lease program though. Honda Finance's current buy rate lease money factor and residual value for an otherwise identical lease of a 2005 model should be .00255 and 55%, respectively. If you decide to go with the 2005 model, make sure to use the dealer cash to your advantage when negotiating the selling price. If I was in the market to lease a Honda Pilot right now, I personally would probably go with the 2006 model. If I was going to finance or pay cash, I'd probably go with an '05 model though.
Thanks, Car-Man. To summarize: I am going after EXL-2006, 36 mo, 12k/year Invoice + dest = $30,275. Is this fair to expect purchase price to be +300 = $30.575(???????) Money factor = 0.00105. Residual factor = 61%. Plugging these numbers into the formula we got MONThLY PAYMENT = $342.65 (before taxes). Is this accurate ???????
My girlfriend just closed the deal on a 06 pilot EXL awd. she paid 30900 for the car, 42 months-15k a year, with 700 out of pocket, ny state tax rate of 8%, her payment is 387 a month, is this a good deal? thanks guys
Thanks Car man, Picked up the 06 Pilot EX-L With a total payment of $351 42 month 42 k miles. The first dealer did not want to give me the deal on EXL, so I went to Dobbs (Autonation) and they put it right through. I prequalified by going directly to hondafinance.com first and walking in w/ my paperwork. The numbers were just like quoted on the honda site. $30,100 (32,395 msrp) sell price(a few dealer addons like mudflaps) and .00115 $ factor. I usually fight the $295 dealer Markup (doc fees) but, let is pass because they gave me a good number on my trade of a 98 Passport that needed to go away. My wife (her car) loves the XM radio and I am very impressed with the interior compared w/ the 05. You run a good thread here. Thanks Car man. -mimeo
I looked at a 2006 Pilot today with the intention to lease if I could get a deal similar to others on the board.
I asked for the internet sales department, and told them I would probably be interested in a 42 month lease on a 2006 EX-L 2wd.
They said they could only work the October lease specials on the LX models.
They also said on the EX-L the best they could do would be about $550 per month for a 48 month lease with 12K miles per year, give or take $5-$10 assuming I had top tier credit. We did not even run a credit check as the numbers were not near the $350-$380 with less than $1000 out of pocket I was trying to get close to. There is 8% sales tax in my state.
They were "nice", but we were both way off on the numbers and we could tell we were both wasting each others time.
Is the money factor (.00115) good on all 2006 Pilots or just the LX?
What I am doing wrong, and do you think my goals are unreasonable? Any pointers would be appreciated. I live in Louisiana.
Ok I called around and got an offer for $700 out of pocket and $405-$410 per month x 42 months with 12k per year. Much better, but not like others on this forum. The money factors are what was quoted on this board but the residuals were 57%, or would be 55% with 15K.
green11, We live in Houston, and have (finally!) found a dealer that is very up front with all the pricing, lease factors, etc. With 42 months and 12K, the residual for an EX-L with or without DVD was 57%. 36 months was 61% for the DVD, 64% for no DVD (go figure!). The problem we encounter is that many states require you only to pay sales tax on the depreciation, but TX requires you to pay tax on the entire purchase price of the car, even if you are keeping it for only 36 or 42 months. I don't know about LA, but with the lease specials, and only 1st payment and tags due at signing (around $600 for us), the payments were $427 for the EX-L w/DVD, and $396 for EX-L; 42 months made it $405 for DVD, $391 for plain EX-L. The big difference seems to be when you add in the nearly $2K for sales tax. Ugh. Hope this helps you.
I may have talked to the same dealer in Houston tonight. They are very upfront.
My concerns are that when I moved from Louisiana to Texas with a leased car it almost took an act of god to get plates here. It took several trips to various agencies, tears from wife, and numerous phone calls. I was driving on expired plates it took so long and I had several weeks to work with. People buy out of state vehicles all the time here from Houston, Texas and dealers usually can handle the paperwork. I am hoping if I start the lease upfront for Louisiana it will not matter the car was leased in Texas and work as easy as a purcahse.
I know IL, and Texas require the taxes upfront. Do not feel too bad the tax rate here is double. I will still pay more than someone from Texas in taxes even though I believe I am only taxed on depreciation. When I reminded the dealer I was in Louisiana my payments went up about $15 month over Texas residents.
If this is the case, your quote of $405-410 may not be too far off. Remember a 42 month lease on an EX-L (2wd) here was $391. Tax on vehicle purchases here is 6.25%. I found a good lease calculator at leaseguide.com. You can input all the information and get a good idea of what your payment should be. I had to do the taxes as a separate amount in order for it to come out like the dealer's quote. The calculator assumes tax only on the depreciation otherwise. I would tell the Houston dealer that in LA you are only taxed on depreciation, not on the full purchase price. That should make a difference too. They are probably used to only doing tax on the full amount (but I could most certainly be wrong). Be sure to ask for a quote for the 36 month lease, too. The residual was much higher for some strange reason - even higher percentage wise than the one with DVD, and that made the payments better.
Thanks for your time and info. I have been reading a lot on leasing via the web, leaseguide.com, carbuyingtips.com, and edmunds.com, so thanks for the scoop.
I have since found a '06 EX for 27,963.00 MSRP 31,295.00, have to pay the $595.00 acq. fee, +10.00 county fee ~ 15K, 36 month, tier 1 credit, $0 down, .00105 money factor, 62% residual = $320.00 per month + tax ~ using a no fee AAA auto broker.
Also, '06 LX - for $24,593.00 MSRP 28,745.00, same fees, 15K, 36 months, money factor .00090, residual 62%, $0 down = $293.00 + tax
With the Honda lease program, how concerned should I be with the following? Disposition Fee, Purchase Option Fee, Termination Fee, are Honda lease ~ "pretty clean and reasonable" for a lease as a whole. I know they will not be "buyer" friendly, but are there any "FLAGS" or items to watch for, with Hondas Americas leasing corp?
Hope this is info you where requesting. Thanks again. dealingbob
This forum is great. Just made a deal on 2006 EX-L 2wd Pilot. $602 out of pocket including first month's lease. $389 per month with 15K miles per year x 42 months. Tax rate 8.5%. Holmes Honda in LA.
No tax is for Texas only on Pilot & Ridgeline. Honda subsidizes and you get lower money factor. It is like getting an interest rate of about 1%. Honda could stop promo at any time. I wish I lived in TX. This forum helped me and I wanted to give something back. I just goy my pilot EX-L yesterday, and love it. My payments actually came to $385. The dealer said I was easy to work with and it was quick and they did not try to pass on BS charges. The salesman was convinced I used to work for Honda.
I am no expert, and I don't know LA area, but I think you can do a lot better
$0 down, 36 months, residual value of 60% or higher. Depends on your money factor as well.
But this seems like a good deal for the dealer, and not you. Honda lease deal currently is much better. If you credit is bad, that could effect the deal.
I keep hearing about all those excessive charges and fees that everyone is paying. I feel that I got an outstanding deal....here's my story.
Here's a little background on myself. I sold Honda's back in 99-00 (northern California), Acura's in 01-02, and most recently BMW's (I'm currently selling real estate now). I guess being an Internet Manager helped also. But in order for me to get my quotes, I had to do it the old fashion way like the rest of you, by phone and email. It was a process that I hoped would be easy, but it did require more work than I thought. Well actually, most of the work was research and reading all the posts about lease deals and prices. But it really helped. Again, research is probably the single most important step to this entire process.
After I had an idea of my monthly payments and my drive offs, I began to call around to a few local dealers. It was the same run around that we all experience. I even told them that I used to work the Internet Dept, but they still hit me with really high payments. So I decided to email all the local dealers in my area (there's over 15 dealers within a 50 mile radius). Again, I wrote that I was an Internet Manager and that I wanted the lowest quote. Most of them responded with decent quotes, but I knew that I could do better. There was one dealership that took me at my word that I knew what I was doing and gave me a rock bottom quote. That dealership was Norm Reeves Honda in Cerritos (if you want the contact person's name, please email me as I do not think it is appropriate on this site to reveal it). She was very upfront and honest. She gave me a quote and didn't include all those "excessive fees" that everyone writes about. In fact, my document fee was a standard $45 in California, and the acquistion fee was $595, which Honda requires on a lease.
Anyhow, to make a long story short, I sent my email request out last week, and I just picked up my new 06 Pilot EX-L w/ Navigation this morning. The whole process was fantastic. No pressure and everything as stated.
You're all wondering....what was his deal. Here is it! I am typing it exactly as I read it off my lease contract.
2006 Pilot EX-L with Navigation (2WD) 42months/12k per year Total money out of pocket aka drive offs: $700.46 (covers first month payment, DMV registration fees, document fee ($45 as stated), and tire fee (around $12)...again, everything total out of pocket $700.46
Monthly payments of $351.04 plus tax (Los Angeles county tax): total payment of $380/mo. This deal is through American Honda Finance, not some third party bank.
Breakdown on price: MSRP $34,595.....price we agreed upon $30,743.10. I believe this is below invoice, but don't remember by how much. And Yes, they are dealing on 2006 models.
Well, as they say, that was the rest of the story.
Good luck to all. Let me know if I can help. bids101
You can exchange a lot of information here, but salesperson names is not one of them.. Please don't offer to provide or ask for those names, even by e-mail.
Good evening. I am hoping for a FAST reply, as my 06 Pilot AWD EX-L With Navi is now on the lot! We are going to lease this vehicle this Saturday, but I am questioning being able to squeeze the monthly price down a bit.
The Details for the Vehicle in question are: 2006 Pilot AWD EX-L With Navi
MSRP: 35245 Dest: 550 Total: 35795
Negotiated Price: 32375 Dest: 550 Total Negotiated: 32925
Tax: Virginia 3.0 % (How is tax calculated on a lease? Total Price?) :confuse: Tags / Title: $40.00 Doc Fee: $288.00
What should I be looking at for a $0.00 Down (except first payment) lease? Could you provide: A.) 36 month / 12000 B.) 42 month / 12000
If you purchase the vehicle in VA the tax is 3% + the business tax (approx 3.17%). If I am not mistaken the price of the vehicle will be between $34296.72 - $34891.72. In VA you pay full tax not on the portion of the lease amount. There is a calculator on leaseguide.com which will calculate the monthly payment bu plugging in the numbers. There are 2 money factors .00115 if you opt not to pay the Acquition fee and .00105 if you decide to pay the acquisition fees.
The lease end residual value the 06 EX-l with NAVI was 53% 2 weeks back on a 15k miles/year. Not sure as to what the residual will be on a 12k. I think it was either 54% or 56%.
Your Lease payment on a 42MO 12k should not be more than $401 without Taxes @.00105 MF.
Your Lease payment on a 36MO 12k should not be more than $447 without Taxes @.00115 MF.
Thanks for the info on the taxes... I went yesterday to buy the vehicle. I was suprised that I had to pay tax on the the FULL amount. Additionally I was told the .00105 was if you pay a security deposit and .00115 if you don't. The told me everybody has to pay the aquisition fee. Is that true?
Since it seems no one comes back and puts what they got after Carman does his calculations, I decided to post my deal. I did it all via email and didn't talk to the salesman until I sat down to sign the papers. I wish I could provide more numbers, but basically I told him I didn't want to spend more than $400 a month and he made it happen. My lease consists of 3yr/36K with $500 down. They also threw in the side step bars and a hand painted pin-stripe. The price was $369 before taxes and $398 after Ohio tax. Thanks for the read and please come back and post after you get your deal so others can get a ballpark feel for what the going rate is.
You're welcome leto. $300 over invoice might be a little tough to convince a dealer to go for, but I would not be surprised if you were able to get $500 over. You may want to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Honda Pilot: Prices Paid & Buying Experience". The money factor that you posted is correct. In order to calculate this truck's lease payment, you need to know its full MSRP (including the destination charge), not just its selling price. If you let me know what this number is, I can calculate a lease payment for you. Otherwise, you can do so yourself using the formula that is described in the following article: Calculate Your Own Lease Payment.
Hi mhaines. Let's calculate a lease payment on the truck that you are interested in and see what we come up with. Honda Finance's lowest possible lease money factor on a 2006 Pilot is .00105, but consumers can only get this of they pay a security deposit equivalent to their vehicle's first month's payment rounded up to the nearest $25 increment at lease signing. It sounds as though you want your security deposit waived, so we will use a money factor of .00115 for this lease. According to my calculations, if you were to lease a 2006 Honda Pilot EX-L w/RES with an MSRP of $35,195 and a selling price of $31,000 (which is a great price if you can get it) through Honda Finance right now for 42 months with 15,000 miles per year, its zero down, pre-tax monthly payment should be around $336. I though that Honda Finance's current 42 month, 15k residual value for this truck is 55%, but perhaps I was mistaken. If the residual is indeed the 53% that you mentioned I get the exact same monthly payment that you did, $351.07.
Hello green11. Honda Finance's special lease money factor, .00105 with the payment of a security deposit and .00115 without, is available on all 2006 Honda Pilot models, regardless of trim level. Of course, the more expensive the truck that you are interested in is, the higher its lease payment will be. If you are looking at a truck that is more expensive than the one that Honda based its advertised lease on, the payment will be higher. You need to focus your efforts on negotiating as attractive a selling price as possible on the Pilot that you want. Once you have shopped around and arrived at a selling price that you are comfortable with, have the dealer that quoted it to you calculate a lease payment on the truck that you want using the aforementioned lease money factor.
You're welcome dealingbob1. Honda Finance is a very pleasant bank to deal with. Myself or my wife have leased at least three vehicles through them over the years and we have never had a problem. They are very reasonable when evaluating vehicles condition at lease-end. Honda Finance does charge a $595 lease acquisition fee, but that figure is in line with the fee that other banks charge. I don't recall it charging any sort of lease disposition fee.
Both of the deals that you were quoted look good to me. The selling prices that you were quoted provide reasonable discounts and the money factors that you were quoted are right in line with Honda Finance's base factors for these trucks. As you can see by the info that you were quoted, Honda Finance's buy rate money factor is a little lower for the Pilot LX than it is for other Pilot models, .00090 versus .00105. I just double checked the payments that you were quoted though and something does not add up. With the first deal, a 2006 Pilot EX with an MSRP of $31,295 and a selling price of $27,963, I estimate that its 36 month, 15,000 miles per year, zero down, per-tax monthly payment should be around $288. As you can see, this is much lower than the $320 that you were quoted. With the seond truck, I come up with an even bigger discrepancy. For this '06 Pilot LX with an MSRP of $28,745 and a selling price of $24,593, I come up with a 36 month, 15k pre-tax payment of around $227. You need to find out why the payments that you were quoted are higher than this. Having your security deposit waived, not paying an acquisition fee, or do not qualify for Honda Finance's top credit tier would account for some of the difference.
Comments
2006 Pilot EX 2-Wheel Drive Special Featured Lease Terms Certificate
$289 per month for 42 months. $1,500 total due at signing.
Can I walk out with this deal as is, or is there more I should know or ask?
Thanks.
Got it from Madison Honda in NJ, for a quick good online quote go to Open Road Honda, NJ website, I think they even beat Costcos price, and use that price to shop around. I leased instead of purchase because I only plan on having the vehicle a few years, and who knows Gas could be at $5 a gallon then, and there may be better mileage 8 person vehicles then. Presently with the lease deal on 2006, you could probably get the same lease deal as you can with 2005 pilot with the manf discount/market support.
Lease residuals for 42 month on the 06 Pilot EX-L with NAV are as follows:
42 MO @ 12,000/year = 55%
42 MO @ 15,000/year = 53%
If you lease I think American Honda Finance (AHF) charges $595 as acquition fee (GAP coverage fee) + TTL. Anything else is dealers pocket. As car_man had mentioned AHF is offering a good deal.
Ask your dealer about the Leadership Purchase Program. This is a good program for someone with excellent credit. AHF super preferred rate on this program is 2.88% (0.00120). If you don't want to keep the vehicle after 42 months, you simply return the vehicle, or you continue to make the same payments to AHF. However, the Interest rate will not be 2.88% after 42 months. You can refinance, and if you go thru a Credit Union, you get good interest rates and you will probably save couple of thousand bucks. My credit union offers 4.75% for 60mo, 5.24 for 72mo and 6.24 for 84mo. This is the lowest auto loan rate I have seen so far.
Hope this helps.
On the current Honda lease deal. My dealer is offering $1,500 off msrp for cloth, or 1,800 off for leather. ( the leather residual is less for 36 month -thought that was interesting), this becomes the purchase price. Does that sounds fair or like a good deal?
Also, I am new to the leasing game, but I assume that there will be more leasing deals on the Honda 06 soon? Will the sales slow down in auto industry, spur more lease deals in the short term? Or, is this the time to lease a Honda Pilot?
The overall deal, on top tier credit was $338.00 on a lx for 36 months 15K per, including everything taxes, etc. Just county taxes and first month payment when car is picked up? sound good, fair?
how about a 24 month lease, 15k per, for $373.00 ? better option?
thanks for the assistance
could anybody tell me what would be money factors and residual factors
for PILOT-EXL if to lease in October?
I am trying to see if I can get a better deal on 2005 or 2006 model.
Purchase price of 3005 expected to be lower than 2006. However, money/residual for 2006 model better than 2005.
If I could, please , get an accurate numbers and as well as general recommendation, would be very nice!
I check 2 weeks ago and it was 0.00119 but have seen it cheaper on this forum.
Honda's lease program on the 2006 Pilot is pretty attractive right now, so leasing is definitely an option that you should consider. I can give you an idea of what your monthly payment would be like if you chose to lease this truck, however in order to do so I am going to need some additional information from you. This includes your truck's full MSRP (with the destination charge added in) and how long you want to lease it for.
Car_man
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A typical 2006 Honda Pilot EX has around a $3,000 spread between its full MSRP and dealer invoice price. A $1,500 discount is a reasonable deal on this truck, but if you are in an area where there is a lot of competition for your business, I would not be surprised if you were able to get an even larger discount. For more feedback on this truck's price, make sure to stop by the following discussion: KarenS, "Honda Pilot: Prices Paid & Buying Experience" #, 6 Aug 2002 1:46 pm.
Honda's current lease program on the 2006 Pilot is already fairly attractive. It is difficult to say whether it will get any better if you wait to lease. If you are in the market for a new truck, I personally don't see any reason not to lease an '06 Pilot this month.
I would be happy to give you my opinion on the lease that you were quoted, however you never mentioned the selling price or MSRP of the truck 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.
Car_man
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To summarize: I am going after EXL-2006, 36 mo, 12k/year
Invoice + dest = $30,275.
Is this fair to expect purchase price to be +300 = $30.575(???????)
Money factor = 0.00105. Residual factor = 61%.
Plugging these numbers into the formula we got MONThLY PAYMENT = $342.65 (before taxes). Is this accurate ???????
Many thanks!!
Picked up the 06 Pilot EX-L With a total payment of $351 42 month 42 k miles. The first dealer did not want to give me the deal on EXL, so I went to Dobbs (Autonation) and they put it right through. I prequalified by going directly to hondafinance.com first and walking in w/ my paperwork. The numbers were just like quoted on the honda site. $30,100 (32,395 msrp) sell price(a few dealer addons like mudflaps) and .00115 $ factor. I usually fight the $295 dealer Markup (doc fees) but, let is pass because they gave me a good number on my trade of a 98 Passport that needed to go away.
My wife (her car) loves the XM radio and I am very impressed with the interior compared w/ the 05.
You run a good thread here. Thanks Car man.
-mimeo
I have calculated the lease as following. Is this right? I am going to try to get the vehicle for $31,000.
15,000 miles/year
MSRP $35,195.00
Residual % 53%
Months in Lease 42
Residual $18,653.35
CAP Cost $31,000.00
Money Factor 0.00115
Interest Rate 2.76%
Depreciation Fee $293.97
Finance Fee $57.10
Monthly Payment $351.07
I asked for the internet sales department, and told them I would probably be interested in a 42 month lease on a 2006 EX-L 2wd.
They said they could only work the October lease specials on the LX models.
They also said on the EX-L the best they could do would be about $550 per month for a 48 month lease with 12K miles per year, give or take $5-$10 assuming I had top tier credit. We did not even run a credit check as the numbers were not near the $350-$380 with less than $1000 out of pocket I was trying to get close to. There is 8% sales tax in my state.
They were "nice", but we were both way off on the numbers and we could tell we were both wasting each others time.
Is the money factor (.00115) good on all 2006 Pilots or just the LX?
What I am doing wrong, and do you think my goals are unreasonable? Any pointers would be appreciated. I live in Louisiana.
Thanks
We live in Houston, and have (finally!) found a dealer that is very up front with all the pricing, lease factors, etc. With 42 months and 12K, the residual for an EX-L with or without DVD was 57%. 36 months was 61% for the DVD, 64% for no DVD (go figure!). The problem we encounter is that many states require you only to pay sales tax on the depreciation, but TX requires you to pay tax on the entire purchase price of the car, even if you are keeping it for only 36 or 42 months. I don't know about LA, but with the lease specials, and only 1st payment and tags due at signing (around $600 for us), the payments were $427 for the EX-L w/DVD, and $396 for EX-L; 42 months made it $405 for DVD, $391 for plain EX-L. The big difference seems to be when you add in the nearly $2K for sales tax. Ugh. Hope this helps you.
My concerns are that when I moved from Louisiana to Texas with a leased car it almost took an act of god to get plates here. It took several trips to various agencies, tears from wife, and numerous phone calls. I was driving on expired plates it took so long and I had several weeks to work with. People buy out of state vehicles all the time here from Houston, Texas and dealers usually can handle the paperwork. I am hoping if I start the lease upfront for Louisiana it will not matter the car was leased in Texas and work as easy as a purcahse.
I know IL, and Texas require the taxes upfront. Do not feel too bad the tax rate here is double. I will still pay more than someone from Texas in taxes even though I believe I am only taxed on depreciation. When I reminded the dealer I was in Louisiana my payments went up about $15 month over Texas residents.
Thanks for your time and info. I have been reading a lot on leasing via the web, leaseguide.com, carbuyingtips.com, and edmunds.com, so thanks for the scoop.
I have since found a '06 EX for 27,963.00 MSRP 31,295.00, have to pay the $595.00 acq. fee, +10.00 county fee ~ 15K, 36 month, tier 1 credit, $0 down, .00105 money factor, 62% residual = $320.00 per month + tax ~ using a no fee AAA auto broker.
Also, '06 LX - for $24,593.00 MSRP 28,745.00, same fees, 15K, 36 months, money factor .00090, residual 62%, $0 down = $293.00 + tax
With the Honda lease program, how concerned should I be with the following?
Disposition Fee, Purchase Option Fee, Termination Fee, are Honda lease ~ "pretty clean and reasonable" for a lease as a whole. I know they will not be "buyer" friendly, but are there any "FLAGS" or items to watch for, with Hondas Americas leasing corp?
Hope this is info you where requesting. Thanks again. dealingbob
Please review thse two scenario I am considering. Please see if those numbers make sence to you.
Lease for 36 MO, 12K/year,
OUt-OF-POCKET = 1 mo+bank fee+mv fee+doc fee ~ $1400
EX:
purchase price +500 over invoice ~ 30,100
Residual =61%,
money factor = 0.00105
calculated monthly payment = $328.95 (BEFORE TAX)
EXL:
purchase price +500 over invoice ~ 28,000.
Residual =61%,
money factor = 0.00105
calculated monthly payment = $297.03(BEFORE TAX)
MSRP: 31,695
Price Paid: 31,000
Cash Cap Reduction: 1,841
Mileage: 12,000/yr
Lease End Value: 17,432.25 (55%)
Term: 42
Lease Factor: 0.00115
Monthly Payment (w/ 9% tax): 378.93
Amount due at start: 2,480.62
What do yall think? Good deal or not?
$0 down, 36 months, residual value of 60% or higher. Depends on your money factor as well.
But this seems like a good deal for the dealer, and not you. Honda lease deal currently is much better. If you credit is bad, that could effect the deal.
dealingbob
Here's a little background on myself. I sold Honda's back in 99-00 (northern California), Acura's in 01-02, and most recently BMW's (I'm currently selling real estate now). I guess being an Internet Manager helped also. But in order for me to get my quotes, I had to do it the old fashion way like the rest of you, by phone and email. It was a process that I hoped would be easy, but it did require more work than I thought. Well actually, most of the work was research and reading all the posts about lease deals and prices. But it really helped. Again, research is probably the single most important step to this entire process.
After I had an idea of my monthly payments and my drive offs, I began to call around to a few local dealers. It was the same run around that we all experience. I even told them that I used to work the Internet Dept, but they still hit me with really high payments. So I decided to email all the local dealers in my area (there's over 15 dealers within a 50 mile radius). Again, I wrote that I was an Internet Manager and that I wanted the lowest quote. Most of them responded with decent quotes, but I knew that I could do better. There was one dealership that took me at my word that I knew what I was doing and gave me a rock bottom quote. That dealership was Norm Reeves Honda in Cerritos (if you want the contact person's name, please email me as I do not think it is appropriate on this site to reveal it). She was very upfront and honest. She gave me a quote and didn't include all those "excessive fees" that everyone writes about. In fact, my document fee was a standard $45 in California, and the acquistion fee was $595, which Honda requires on a lease.
Anyhow, to make a long story short, I sent my email request out last week, and I just picked up my new 06 Pilot EX-L w/ Navigation this morning. The whole process was fantastic. No pressure and everything as stated.
You're all wondering....what was his deal. Here is it! I am typing it exactly as I read it off my lease contract.
2006 Pilot EX-L with Navigation (2WD)
42months/12k per year
Total money out of pocket aka drive offs: $700.46 (covers first month payment, DMV registration fees, document fee ($45 as stated), and tire fee (around $12)...again, everything total out of pocket $700.46
Monthly payments of $351.04 plus tax (Los Angeles county tax): total payment of $380/mo. This deal is through American Honda Finance, not some third party bank.
Breakdown on price: MSRP $34,595.....price we agreed upon $30,743.10. I believe this is below invoice, but don't remember by how much. And Yes, they are dealing on 2006 models.
Well, as they say, that was the rest of the story.
Good luck to all. Let me know if I can help. bids101
Thanks!
kyfdx
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Good evening. I am hoping for a FAST reply, as my 06 Pilot AWD EX-L With Navi is now on the lot! We are going to lease this vehicle this Saturday, but I am questioning being able to squeeze the monthly price down a bit.
The Details for the Vehicle in question are:
2006 Pilot AWD EX-L With Navi
MSRP: 35245
Dest: 550
Total: 35795
Negotiated Price: 32375
Dest: 550
Total Negotiated: 32925
Tax: Virginia 3.0 % (How is tax calculated on a lease? Total Price?) :confuse:
Tags / Title: $40.00
Doc Fee: $288.00
What should I be looking at for a $0.00 Down (except first payment) lease? Could you provide:
A.) 36 month / 12000
B.) 42 month / 12000
Thanks!
If I am not mistaken the price of the vehicle will be between $34296.72 - $34891.72. In VA you pay full tax not on the portion of the lease amount. There is a calculator on leaseguide.com which will calculate the monthly payment bu plugging in the numbers. There are 2 money factors .00115 if you opt not to pay the Acquition fee and .00105 if you decide to pay the acquisition fees.
The lease end residual value the 06 EX-l with NAVI was 53% 2 weeks back on a 15k miles/year. Not sure as to what the residual will be on a 12k. I think it was either 54% or 56%.
Your Lease payment on a 42MO 12k should not be more than $401 without Taxes @.00105 MF.
Your Lease payment on a 36MO 12k should not be more than $447 without
Taxes @.00115 MF.
The above numbers are with ZERO down.
Thanks for the info on the taxes... I went yesterday to buy the vehicle. I was suprised that I had to pay tax on the the FULL amount. Additionally I was told the .00105 was if you pay a security deposit and .00115 if you don't. The told me everybody has to pay the aquisition fee. Is that true?
2) Waiving the security deposit does raise the money factor..
3) Everyone pays a $595 acquisition fee... either upfront, or rolled in to the cap cost.
regards,
kyfdx
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I did it all via email and didn't talk to the salesman until I sat down to sign the papers.
I wish I could provide more numbers, but basically I told him I didn't want to spend more than $400 a month and he made it happen. My lease consists of 3yr/36K with $500 down. They also threw in the side step bars and a hand painted pin-stripe. The price was $369 before taxes and $398 after Ohio tax.
Thanks for the read and please come back and post after you get your deal so others can get a ballpark feel for what the going rate is.
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Both of the deals that you were quoted look good to me. The selling prices that you were quoted provide reasonable discounts and the money factors that you were quoted are right in line with Honda Finance's base factors for these trucks. As you can see by the info that you were quoted, Honda Finance's buy rate money factor is a little lower for the Pilot LX than it is for other Pilot models, .00090 versus .00105. I just double checked the payments that you were quoted though and something does not add up. With the first deal, a 2006 Pilot EX with an MSRP of $31,295 and a selling price of $27,963, I estimate that its 36 month, 15,000 miles per year, zero down, per-tax monthly payment should be around $288. As you can see, this is much lower than the $320 that you were quoted. With the seond truck, I come up with an even bigger discrepancy. For this '06 Pilot LX with an MSRP of $28,745 and a selling price of $24,593, I come up with a 36 month, 15k pre-tax payment of around $227. You need to find out why the payments that you were quoted are higher than this. Having your security deposit waived, not paying an acquisition fee, or do not qualify for Honda Finance's top credit tier would account for some of the difference.
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