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Comments
also whats a good selling price to start the lease process? (5000off MSRP?)
What are all the rates i need to know for April? (MF, residual rate, etc etc???)
Lastly, Would it be better to purchase or Lease?
thanks
I'm doing a lot of research as I don't plan to lease for a few more weeks. The first place I went to really wants to beat everybody. I am looking at a 4wd Pilot EX-L w/Navi. I'm being quoted a selling price of $32,134, residual of $18,384.40 and inception fees at ~$2100 (including tax, waving destination which I already figured out they included with the MSRP to get the residual they did). With that, I'm being told my monthly payment will be $395. If I don't include taxes, my IF would be ~$1500 (since they won't wave destination if I do it this way) and my payments would be at $415. It is my best offer by far (and no one will match pre-tax here, some are close post-tax) but are these #s correct. Originally I believed the MF was .0004 but it is .00004. If so, do I point it out now that my monthly fee should actually be $384 pre-tax (by my calculations) or do I wait until I go to the dealership?
Thanks.
MSRP: 35,440
Sale Price: 32,655
Residual: 18,783.20
Factor: .00004
36 months, 12,000 miles
I plan on putting down $3500 to lower payment. I was given a payment amount of $354.14
Thanks for your help.
along with roadside asst.My residual was @ 18,995 sale price was 32,255 with mrsp 35,400
Im looking for LX 2WD lease 36-60months 10000mi/yr.
would i be able to get 6000 off msrp as selling price?
also whats the MF and residual value? how many months of lease will give best deal(lowest monthly payment)?
It seems like I should be able to get another $30/month off with no money down.
Basically, your have -$0 from invoice price deal which is sad. I have received a quote by e-mail from Brooklyn dealer with -2.5K from invoice price and I'm going there tomorrow with hope to lower selling price even more.
Alex
15K/year residual ~51%, 9% tax and bank fee included you have to pay about $424.23 per month
12K/year residual 54%, 9% tax and bank fee included
you have to pay about $402.43 per month
and your deal is -$0 from invoice price which is not so good in my opinion. I'm sure you can find a better deal.
Interest you will pay over 36months of the lease is less then $100 regardless $4K down or $0K down!
Your can spend those extra $4K on insurance deductables for incidents if any happens or even buy a new Flat Panel TV.
If you don't have any better ideas, reduce your vehicle price and pay up front.
Alex
Need some input on my situation:
Interested in a Pilot EXL lease for 36 months with 15k miles per year.
Need to lease with no money down - sign and drive lease
Would like to know a reasonable cap cost for a Black Honda Pilot EXL
Need an honest residual value for this vehicle - I hear 62% and 51% based on 15k miles per year for a 36 month lease? Is it different in each state?
I believe the current money factor is .0004% right now which is fantastic if you qualify for the super preferred tier - please confirm
I have spoke with several dealers and they are all about asking what monthly payment I am interested in right away. They keep saying this is all that matters when I would like to get a breakdown of the cap costs, residual value, money factor, and 7% interest - Central Florida. Need some suggestions on how to keep my approach or if im being unreasonable. Any suggestions or comments on this would be greatly appreciated! I am looking for some honest feedback.
Thank you !
MSRP, selling price (net cap cost [after all fees are rolled in]), residual value, money factor... Then you can go thru and work out the payment.
I don't think the residual %age is right. Sounds low. You should get a quote on same vehicle from another dealer (or two).
I can confirm that money factor is the same 0.00004 (saw it on the dealer's screen). Residual value for 2WD and 4WD is different and for 4WD is better (higher) than for 2WD (which I've leased). For 2WD and 12K it is 53% (saw it on the screen). The online quote (-2.5K from invoice) was a BS, they told me in dealership that it was actually buying price with finance, not leasing price (you have -$2000 on finance or 0.00004MF on lease, those cannot be combined together). They started negotiation with invoice price +$500 and ended up on "my leaving for shopping somewhere else" with -$400 from invoice.
I've got $0 down deal with -$400 from invoice price.
What is the reccommended formual for determining the lease payment. I have tried a few but am curious what is standard. If you could share with us that would be great
Thanks!
ResVal = MSRP * Residual%
Monthly depreciation fee (MDF)= (NetCost-ResVal)/Terms
Monthly finance fee (MFF)= (NetCost+ResVal)*MoneyFactor
Monthly Payment (w/o Tax) = MDF+MFF
invoice price of EX-L AWD with RES (black) $32,142 including destination.
with 47% residual (it sounds low) and 0.00004MF, $0 down and no discounts from invoice price your monthly payment without tax should be around $441. Calculate price of all additional options / terms and add it to your monthly payment.
Some combinations of options make low residual value because cars with them are hard to sell in the future for dealer
Thanks for anybody's input.
Bill G
2017 Accord Sport CVT Mod Steel Metallic
I have gotten an offer of $388, with only tax, first month and dmv fees to start. Approx $1600
12 K per year.
Around $400/month, if I want 15K.
I have gotten an offer of $388, with only tax, first month and dmv fees to start. Approx $1600
12 K per year.
Around $400/month, if I want 15K.
$381/mo
Taxes and fees up front (Approx. $1800)
for 36mos/15K
Is this good?
If not, any dealer suggestions?
thx
Best I have gotten so far is ex-l with dvd 12k miles and 1462 due at signing for 397.55 per month.
Here is my question - is it legally binding (both sides) if they include the VIN #, monthly payment, term, mileage and cash due at signing (in this case just tax and fees)? They actually faxed me a copy with this information so it's just a matter of them keeping their word and me signing tomorrow.
Can they change the terms next week if this is signed and spelled out in advance?
Thanks.
36 months 15k miles per year and 0 down monthly $575.00
i know its pretty expensive deal. if anyone knows any dealer that i should contact to get the deal i see on this forum 0 down with 381 a month thats what i call steal.
please let me know the dealership info or post their website address
thanks
I have 2 different residual factors for a 2007 Pilot AWD EX-L w/Navi.
I have seen both 51% and 53%.
I hvae also seen it confirmed as both on different msg boards.
Which is correct?
Thanks!
Thanks,
Carl
I did not want to lease....so I thought I was looking for a certified used and this deal fell in my lap. After a month and a half search. I go into Rivertown Honda in Grandville Michigan and tell them tomorrow I will be driving across the state to pick up a 04 cert. Pilot unless they can save me a drive. As I mentioned I was not truely interested in lease until he crunched the numbers. Then I could not pass it up as the 07 has greater safety features and a 5 speed trans. as well as better appointments.
From the go they come with Gross Cap cost of 28,775 Residual %.54 and Residual of 17,031. the $ factor of .0004 For an EX with 15000 miles a year. 36 mos only $370 due on delivery which is the first mo. payment of $347 and the upfront charge of $23. MI has 6% sales tax. I was working with another sales person at a rival dealer so I called him to give him a shot and he told me he could not to this deal......he later agreed to match, but the ink was already dry at Rivertown.
QUick Recap
EX 2007 Billet Silver (did not ask what color I wanted until the end)
36 month
1st months payment of $347 plus upfront fee of 23.
Sale Price of 28,000
Aquistion fee of 595
Doc Fee of 180
Total Gross Cap of 28,775
.54 Res. % of $
Monthly Payment of $347
I was quoted by others $423mo. and the best other than this deal was a $367 a mo. We signed everything on the 30th.
Hope this helps
I got a Nimbus Gray EX-L AWD w/Navi
36 mos/15K
$379/mo
$1800 down including 1st months pymt, registration fees $262.50, doc fee $199 and NJ tire fee $7.50. There was also a cap cost fee reduction of $952 (originally I believed this would be tax but the lease agreement had it as cap cost; on my lease tax is n/a so it probably was calculated towards that).
Total gross capitalized cost was $32,904/"agreed upon value" (sale price?) was $31,936
51% residual cost
In case anybody cares, my 2nd lowest was $384 w/2100 down.
Hope I did well. Let me know.
My best quote was from Kay Honda in Eatontown, NJ.
My second best was from Academy Honda in Old Bridge, NJ.
They are actually sister dealerships so at one point or another you will reach rock bottom on them with quotes.
I am interestied in leasing a Pilot EX-L with navigation for 36 or 48 months with 12k per year. I am in the Oregon/Washington area. Can you please tell me the money factors and residual values for May? I am also looking at a Sienna XLE AWD with the same terms.
thanks!
On Sunday, I leased an EX-L (no Navi or DVD) from a Long Island (Nassau) dealer for 36 months at 12k per year for $390 per month including NYS sales tax. My total out-of pocket was around $670 (1st month plus registration and plates) They originally quoted me $450 per month and I only went back to them after I had another dealer (farther away) quote me $399. My sense is that the $457 for a fully-loaded EX-L is pretty good, but you can probably get it lower. How much lower depends on what the residuals and the money factor is as of May 1. I am not aware if they changed since April.
Hi golfman2
May I ask what dealer you got your vehicle from?
That sounds like a pretty decent deal.
Also - have the leasing terms changed for the month of May?
Thanks
I did the entire deal over e-mail/phone/fax. After we agreed on a price via e-mail, I telephoned the salesman and gave him my credit card and a phtocopy of my driver's license. He charged $300 to my card. Next, he faxed me a copy of the sales form. I reviewed it and signed it and then he faxed me a counter-signed version. (No dealer will sign it before you sign it.) Next, I spoke with finance manager who asked me for some additional information. Then, I contacted my insurance company and that was it.
I showed up at the dealership, spent about 10 minutes reviewing and signing lease documents, and away I went. Actually, away went my wife . . . I got stuck driving the old car home.
BTW, ask them to give/mail you a blank lease form in advance of the day you pick up the car. That way you can review it and get comfortable with it before you are asked to sign it. It's not as if you can change any of the boilerplate language if you find it objectionable, but at least you know what you are signing when you show up to pick up the car.
Also, I got a free tank of gas. Given today's gas prices and a 20 gallon tank, that's the equivalent of at least $60.00.
Now that I have the car, I do not know what the lease terms are for May, and frankly I do not want to know, because there is nothing I can do about it except second-guess myself.
Good luck.
The exact price that you will have to pay for this truck varies by trim level, but I highly doubt that you will be able to get a $5,000 discount on one. Most Pilots have a spread of around $3,000 between their full MSRPs and their dealer invoices. Try to negotiate a price that is as close to invoice as possible. You can look up the exact invoice price of the truck that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing.
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