Hey dkla76. Honda's current regional lease special for the 2007 Pilot is available in Southern California. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Pilot LX 2WD with 12,000 miles per year (I don't believe that Honda Finance offers 10k leases on Honda models) are .00048 and 52%, respectively. This truck only has a spread of around $2,500 between its full MSRP and its dealer invoice price, so I highly doubt that you will be able to get anywhere near $6,000 off on a lease of it right now. The $2,000 dealer cash that is available on the '07 Pilot is not compatible with its special lease program. Shoot for a selling price that's as close to dealer invoice as possible.
Hello hondaman15. Honda Finance's residual values are the same across the entire country, but it is running a regional special on the Pilot right now so its money factors will vary by region. Your state, Florida, is one of the areas that this special program is available in. Honda Finance's current special regional lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot EX-L 4WD without navigation or DVD with 15,000 miles per year are .00048 and 52%, respectively. Negotiate a selling price that's as close to dealer invoice as possible on the Pilot that you want and then have the dealer use the aforementioned special lease money factor to calculate your monthly payment.
Hi steve138. $400 below dealer invoice is a great selling price. Just make sure that the dealer that quoted you this price uses Honda Finance's current special regional lease money factor of .00048 to calculate your monthly payment and you're in business.
Hey suvgal. Even if you put a deposit down on the Pilot that you want now I believe that you will have to use the lease program that is available on it when you physically take delivery of it to calculate your monthly payment.
Hi wrwnyc. Honda almost always has some sort of special lease program on the Pilot at this point in the model year, so I don't think that you are risking much by waiting to get one. Besides, Honda's new May special lease program for the '07 Pilot is scheduled to run through July 2nd. I personally would be inclined to wait a month or two to get one rather than wasting my final couple of payments on my current lease.
Hi tulz. Yes, Honda is running a special lease program on the 2007 Pilot in New York right now. The lease payment for the truck that you are interested in will depend upon what trim level it is and what its MSRP and selling price are. If you provide me with this information, I would be happy to use Honda Finance's current special lease program to estimate what the monthly payment would be for the exact truck that you want.
Rickpro13, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot LX 4WD with 12,000 miles per year in Indiana are .00048 and 55%, respectively.
Hi njjeffr. 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.
Welcome mdwcox. 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.
Let's take a look at the deal that you were quoted. The selling price that you were quoted for this truck is right around dealer invoice, which is a very good deal. Just make sure that the dealer you are working with uses Honda Finance's special regional buy rate lease money factor of .00048 (for "Super Preferred" tier customers who pay a security deposit at lease signing) to calculate your monthly payment and you're all set.
Thanks Car_man. I actually posted my final deal. $379/mo with $1800 down at the MF of .00004 (I was able to buy in April), residual of 51% for 36mos/15K. Gross cap cost was $32,904 but the writing next to it was "agreed upon value" which I am assuming is the sales price (?) of $31,936. I put down $1800 total - towards 1st month, dmv fees, tire fee (NJ) and doc fee. I also had approx. $952 in cap cost reduction - I originally thought that would be taxes - even if I made them change that and incorporate - I would've been looking at $405 tops after NJ taxes (7%) for an EX-L AWD w/Navi. Did I get a good deal?
I'm looking at an 07 Pilot. Based on what I've read here, I should be getting a much better deal than I am. Here is what we have.
Term 48 Month 12K/Year MSRP = 35,464 (including destination of 595.) Price = 30909 (what we agreed on) Tax = 6% Residual = 41% (I feel this is way low considering most cars are at ~52%) Trade = -2150 We owe 2150 on the car Payment = 579.00 (this is with us paying 1600, and them cutting a check for 2150 to finish paying off our current lease)
So, with the above figures, I can't understand how they want to charge us 579 when I see 36 month leases for much less that this. Any help appreciated.
Bailey31, You still need to know the selling price to get an accurate amount but check out post #1019 where Car_man figured out a similar quote. It'll be a little more than that since the Mar/Apr money factor was .00004 and it is now .00048 but I can't see it being much more.
dawgs_rule, 1st - please don't lease for 4 years - you will be out of warranty and this is causing your residual to be lower. I'd suggest a 3yr/15K lease which is only 3000 total miles less over the lease and your residual goes up to 51% (I believe). 2nd - the MSRP is way off - it should be $32,540 (including the $595 destination fee) for an EX-L 2WD. 3rd - the current special lease factor is not available in GA but it is in FL so if you take a trip, maybe you could get it (as I don't have access to actual lease #s and definitely would defer to Car_man on this I used you going to FL as the case) 4th - I assumed your $1600 included taxes, fees, etc. - If this is down payment - your numbers will be different
Ok, so far w/your $2150 turn-in, $1600 cash due at signing and if you go to FL to get this, you are looking at $510.03/mo including tax and a residual of $16,595.40. The $579 you were quoted probably wasn't far off depending on the actual MF for GA.
If you can afford to pay off at least some of the $2150 yourself, your #s go down (this is why your quote was so high).
Car_man, please check all my quotes for dawgs_rule - I was just trying to help him with a quick answer but you definitely are the expert in this area.
The price was 32540, but we added Appearance Pkg-995, DVD-895, Sidestep - 789, Tint - 349. That put it up to 35464.
As for the rest, I'm trying to find a way to get my wife into a car for a longer time. I probably should go 36 month as she's only had this for a little over 40 months and wants to trade. I wanted to find a way to get Honda to 'trade out' the Odyssey and not owe the 2150, but they are not wanting to do that :-(.
Do you know if the special is running in AL, TN, NC, or SC? From Atlanta, I can hit any of those states in 2 hrs. It is a good 4/6 hrs to hit Florida.
Again, I'll defer to Car_man as he is definitely the expert in leasing. I'm only working from recent experience. The special lease is in AZ, Southern CA, CO, CT, DE, FL, ID, IL, IN, KY, MA, ME, MI, MN, ND, NE, NH, NJ, NM, NV, NY, OH, Eastern PA, RI, SD, UT, VT, WI & WY per the Honda website.
Car_man - are you out there? Here are the details of a proposed lease I received today, 5/9/07, on an 07 Pilot EX-L w/Navi:
12,000 miles/yr. 36 months MSRP: 36040 Invoice: 32684 Negotiated selling price: 32284 ($400 below invoice) MF: .00094 Residual: 53% Aquisition Fee: $595 $0 cap down 1st month payment ($415), plus tax at 8% ($1194), DMV and aquisition fees due at signing.
I told the sales person that the current Edmunds TMV was 31435, or $1249 below invoice, after which he quoted me this price at $400 below invoice stating that the full $1249 discount was for a buy sale, not a lease deal. I am still shopping to see if I can do better. What's your take on this? Thanks.
Hi suvgal. I am sure that it has happened before, but if you leave a deposit and have a signed buyer's order the chances of the dealership that you are working with trying to change the terms of your deal next week are very low. If you like the truck and the deal give the dealer a small deposit using your credit card. It's much better to use a credit card for this sort of deposit than to write a check or use cash because if something does go wrong you can dispute the charge.
Hey suvgal. Vehicles' residual values vary by term and mileage allowance. You never mentioned how long you want to lease this truck 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 12,000 miles per year. Let me know if you want something different. Honda Finance's current special regional buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot EX-L 4WD with navigation but without the entertainment system with 12,000 miles per year are .00048 and 53%, respectively. The 51% residual that you have seen mentioned was probably for a lease with 15,000 miles per year.
Hi michael250. 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.
Hello scooter21. Unfortunately, the $2,000 dealer cash that is currently available on the 2007 Honda Pilot is not compatible with its special lease program. As a result, a very good price for a leased Pilot would be right around dealer invoice.
Greetings Carl. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot EX 4WD without leather in New York with 12,000 miles per year are .00048 and 55%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. This truck's monthly payment will depend upon what sort of selling price you are able to negotiate on it. Using a selling price of $500 over dealer invoice, $29,118, I come up with a zero down, pre-tax monthly payment of around $350.
Hi caprovo. Honda's May lease program for the Pilot is a little different than its April program was. This truck's lease program varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 12,000 miles per year. Let me know if you want something different. It also varies by region. I will also assume that you are in one of the states that Honda's special regional lease program is available in. If you tell me where you are I can confirm this. Honda Finance's current special regional buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot EX 2WD without leather with 12,000 miles per year are .00048 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Hello cjstanton. Unfortunately, Honda's current special lease program for the 2007 Pilot is not available in Oregon or Washington. As a result, if you were to lease this truck through Honda Finance in your area right now, you would have to use its standard lease program. Its current buy rate standard lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot EX-L 4WD without navigation or the entertainment system with 12,000 miles per year are .00275 and 54%, 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 48 month lease are .00255 and 45%.
The fact that the special regional lease program is not available in your area is the bad news. The good news is that means that you can use the $2,000 dealer cash that is not compatible with the special program to help you negotiate an attractive capitalized cost for your lease.
I am here duaneman. A selling price of $400 below dealer invoice is an excellent price for a leased 2007 Honda Pilot. The reason that the TMV price you saw is belie dealer invoice is probably that it is taking the $2,000 dealer cash that is currently available on the '07 Pilot into account. Unfortunately, this dealer cash is not available on leases using the special regional lease program.
The money factor that is being used to calculate your monthly payment is too high though. If you are in one of the states that Honda is running a special lease program on this truck in*, its buy rate lease money factor should only be .00048 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Make sure that this is the factor that the dealer you are working with uses to calculate your truck's monthly payment.
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Thank you for the quick response Car_man. I have learned so much about leasing on this site thanks to you, and am getting better at cutting through all the bull that gets thrown at me when I talk to dealers. I am in NY (upstate - Albany area), and I will ask the dealer about this .00048 rate. It should save me about $15/mo. I will keep you posted.
Okay... I'm seeing several references to leases for around or even under 400.00, but I can't get a dealer near me to quote me under 550.00. At this point, I'd drive to Jacksonville, closest city to me in a state with the super lease money factor, and work the deal.
One thing that is hard for me to figure out is how my negative equity is affecting my payment. Do you take the money owed, times the MF and add it to the payment, or add it to the price of the car and then multiply it by the depreciation? Or is there some super secret let's see how much we can screw them payment factor that is used to determine how much I have to pay for money that I am already paying interest on? Thanks for the help.
Carman, I was pursuing the special lease money factor of .00048, but the dealer told me this is only for the 2WD Pilots. It was .00094 for the 4WD. Does this seem correct?
#1072 of 1110 Re: New York Metro Area Pilot Lease [golfman2] by wrwnyc May 07, 2007 (6:34 pm) Replying to: golfman2 (May 07, 2007 3:57 pm)
I also got the EXL on April 30. North Shore Honda was one of the dealers I had contacted. They were quoting me $428. Same terms 36 month 12k miles 0 down and the outrageous Nassau county tax of 8.625% in the payments. I ended up at South Shore Honda in Valley Stream at $415/mo. So I think you got a pretty good deal. BTW check out your window sticker all of these cars come with a full tank of gas.
wrwnyc and golfman. Could you please give me the email addresses of the internet managers that you did your deals with? That would be North Shore Honda and South Shore Honda, respectively?
Hi Carman, Is there any way to know if these low money factors will be availible in washington state in the near future? Why are some states included and some not?
Here's where we are. Buying a Honda Pilot. Selling an Odyssey. I just want to verify their math, and make sure I haven't left any money on the table. FYI, I live in Atlanta Ga.
Term = 48 Month MSRP = $35325.00 EXL-2WD with RES and Side Step(785)
Price = $32353.00 28922 + 2125(Negative on Odyssey)+595 aquisition fee + discounted side step(got a -75 credit in there somehow)-1000 down payment
Re: Pilot EX 4WD lease [caprovo] by Car_man HOST May 10, 2007 (2:32 am) Bookmark | Reply Replying to: caprovo (May 01, 2007 8:16 am)
Greetings Carl. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot EX 4WD without leather in New York with 12,000 miles per year are .00048 and 55%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. This truck's monthly payment will depend upon what sort of selling price you are able to negotiate on it. Using a selling price of $500 over dealer invoice, $29,118, I come up with a zero down, pre-tax monthly payment of around $350.
hi car man
i just got a figure from the sales rep at south shore honda stating that due to the money factor change from april to may (.00004 to .00048), that the lease payment on the above referenced lease increases by $60 per month. based on your numbers above (the purchase price, and the vehicle being exactly the same) does that sound about right?
he said the payment would be 461 per month. (this has to be with the tax rolled in)
does that sound right?
also, could you (or anyone) point out to me the formula for converting money factors into percentages?
Haewalli, I tried the numbers with Car_man's sale #, 8.25% tax rate and the new money factor. I got you numbers of $349.27 pre-tax and $378.10 with tax - his numbers are definitely correct. I tried the change in numbers on my own lease - it was a ~$22 difference, not $60 and that was for an EX-L w/Navi. So, out of curiosity, I tried this with the numbers for you and I got the same difference. Here's my calculations for your lease: MSRP: $31540 (includes $595 dest. fee) Sale Price (per Car_man): $29118 Residual: $17347 (55% of MSRP) .00048 money factor $349.27 pre-tax $378.10 with tax
Car Man - could you please advise what a reasonable lease rate for a Pilot EXL with DVD would be in Indiana? We are interested in 36 months, 12,000 miles, 0 down. We have two payments remaining on our current Pilot for $400 per month. Would it be better for us to pay off the remaining lease payments ourselves? Should we wait until June to see if a better offer comes through from Honda Finance? (We are now have 300 excess miles but feel we can keep this to a manageable level.) Are there other lease companies which would be competitive with Honda Finance, or are we obliged to deal with them? Does Honda Finance, or the dealer we arranged our current lease through, offer incentives to lease another Honda Pilot (rather than switching to another make/model)? Many thanks for all your very helpful information.
#1115 of 1117 % = MF*2400 by dawgs_rule May 11, 2007 (10:46 am) Bookmark | Reply Replying to: haewalli (May 11, 2007 10:17 am) #1116 of 1117 Re: Pilot EX 4WD lease [haewalli] by suvgal May 11, 2007 (2:34 pm) Bookmark | Reply Replying to: haewalli (May 11, 2007 10:17 am)
Haewalli, I tried the numbers with Car_man's sale #, 8.25% tax rate and the new money factor. I got you numbers of $349.27 pre-tax and $378.10 with tax - his numbers are definitely correct. I tried the change in numbers on my own lease - it was a ~$22 difference, not $60 and that was for an EX-L w/Navi. So, out of curiosity, I tried this with the numbers for you and I got the same difference. Here's my calculations for your lease: MSRP: $31540 (includes $595 dest. fee) Sale Price (per Car_man): $29118 Residual: $17347 (55% of MSRP) .00048 money factor $349.27 pre-tax $378.10 with tax
What is the sale price they are offering you?
Hope this helps.
thanks dawgs (for the mf converter number) and suval (for the calcuations)
unfortunately, it has been slow going getting actual quotes out of these dealers via email. they want me to come in. i understand that this takes the control of the negotiation away from me, and gives the edge to them. however, i am not getting quotes so i may have to make at least one appearance in each dealership, before they take me seriously.
the South Shore Honda salesperson threw that $461 figure at me over the phone. i was non-committal about a purchase or lease, but once you start asking "lease-like" questions, they can figure out that is the way you are leaning. he said because of the money factor change, that the lease payment increases about $60 per month. i'm glad you did the calculations you did. now i will be armed with more facts when i have to do the down and dirty job of face-time with them.
Haewalli, I had the same problem with dealers wanting me to come in. My reply to each was I will only be visiting dealerships that I have received written quotes from. I told them I was screening calls so please do not attempt to call me and either negotiate over the phone or ask me to come in. I also asked each dealership to provide me with selling price, price per month and residual so I could check their numbers and make sure they were being honest. Tell them exactly what type of lease you want (36 mos/12K). Try contacting 10-15 dealerships - the ones that want your business will respond. Also, it's about the middle of the month - tell them you plan to buy soon (like towards the end of the month) - they'll want you for their quotas and you may even have more negotiating stance as well.
I just leased a EX-L with Navi for 36 months 15 k for $520 including Tennessee tax(9.25%). This was a sign and drive and includes first months payment. The car also has chrome sideboards. Is this a good deal?
I'm being told the same thing at 2 differenct dealerships in MA. Money Factor of .00048 is for 2WD Pilots only and .00094 for 4WD. Carman, is this true?
Could someone let me know what a reasonable lease would be for a Pilot EX-L AWD with Rear Entertainment. I reside in New York (Suffolk COunty). 36mths/12k per year. No cap reduction. All fees/taxes paid upfront. I've been getting some crazy numbers in the upper 4's. Any thoughts?
What can I expect in my area for a Pilot EX-L with RES. I was quoted via internet MSRP 34140 with Sale price of 29,950 with 3000 down and only 48% residual. I am seeing people with much better deals with no money down. Also what is the deal with tax - are you expected to pay the total tax of the car to the dealer - built into your lease price. I can't get dealers to itemize these costs - they just want to give me monthly payments - I can do the math myself.
I'm working with a broker. Don't want dealership hassles and tricks like I've already had dealing on internet. Broker is referral from good friend. Lease is 3yr 15K mi.
Pilot EX-L, my color choice, NO navi. $3K down. Tier 1 Honda credit w/rate of 1.152%. Money factor of .00048, $405/mo. tax incl. Residual around 14,500. The down consists of $750 value for old van. Low monthly payment is important!! IS THIS GOOD FOR SAN FERNANDO VALLEY AREA?
dave141 - if you are willing to go to OC, try Hardin Honda in Anaheim - we were going to lease an EXL for around 340 incl tax with 1000 drive off (36mo/12k). We ended up going with an EXL-Res for less than 400 mo incl tax (1000 drive off).
Hope this helps
Bill G
2016 ES350 Lux/Atomic Silver 2017 Accord Sport CVT Mod Steel Metallic
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Let's take a look at the deal that you were quoted. The selling price that you were quoted for this truck is right around dealer invoice, which is a very good deal. Just make sure that the dealer you are working with uses Honda Finance's special regional buy rate lease money factor of .00048 (for "Super Preferred" tier customers who pay a security deposit at lease signing) to calculate your monthly payment and you're all set.
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Term 48 Month 12K/Year
MSRP = 35,464 (including destination of 595.)
Price = 30909 (what we agreed on)
Tax = 6%
Residual = 41% (I feel this is way low considering most cars are at ~52%)
Trade = -2150 We owe 2150 on the car
Payment = 579.00 (this is with us paying 1600, and them cutting a check for 2150 to finish paying off our current lease)
So, with the above figures, I can't understand how they want to charge us 579 when I see 36 month leases for much less that this. Any help appreciated.
You still need to know the selling price to get an accurate amount but check out post #1019 where Car_man figured out a similar quote. It'll be a little more than that since the Mar/Apr money factor was .00004 and it is now .00048 but I can't see it being much more.
1st - please don't lease for 4 years - you will be out of warranty and this is causing your residual to be lower. I'd suggest a 3yr/15K lease which is only 3000 total miles less over the lease and your residual goes up to 51% (I believe).
2nd - the MSRP is way off - it should be $32,540 (including the $595 destination fee) for an EX-L 2WD.
3rd - the current special lease factor is not available in GA but it is in FL so if you take a trip, maybe you could get it (as I don't have access to actual lease #s and definitely would defer to Car_man on this I used you going to FL as the case)
4th - I assumed your $1600 included taxes, fees, etc. - If this is down payment - your numbers will be different
Ok, so far w/your $2150 turn-in, $1600 cash due at signing and if you go to FL to get this, you are looking at $510.03/mo including tax and a residual of $16,595.40.
The $579 you were quoted probably wasn't far off depending on the actual MF for GA.
If you can afford to pay off at least some of the $2150 yourself, your #s go down (this is why your quote was so high).
Car_man, please check all my quotes for dawgs_rule - I was just trying to help him with a quick answer but you definitely are the expert in this area.
As for the rest, I'm trying to find a way to get my wife into a car for a longer time. I probably should go 36 month as she's only had this for a little over 40 months and wants to trade. I wanted to find a way to get Honda to 'trade out' the Odyssey and not owe the 2150, but they are not wanting to do that :-(.
Do you know if the special is running in AL, TN, NC, or SC? From Atlanta, I can hit any of those states in 2 hrs. It is a good 4/6 hrs to hit Florida.
The special lease is in AZ, Southern CA, CO, CT, DE, FL, ID, IL, IN, KY, MA, ME, MI, MN, ND, NE, NH, NJ, NM, NV, NY, OH, Eastern PA, RI, SD, UT, VT, WI & WY per the Honda website.
12,000 miles/yr.
36 months
MSRP: 36040
Invoice: 32684
Negotiated selling price: 32284 ($400 below invoice)
MF: .00094
Residual: 53%
Aquisition Fee: $595
$0 cap down
1st month payment ($415), plus tax at 8% ($1194), DMV and aquisition fees due at signing.
I told the sales person that the current Edmunds TMV was 31435, or $1249 below invoice, after which he quoted me this price at $400 below invoice stating that the full $1249 discount was for a buy sale, not a lease deal. I am still shopping to see if I can do better. What's your take on this? Thanks.
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The fact that the special regional lease program is not available in your area is the bad news. The good news is that means that you can use the $2,000 dealer cash that is not compatible with the special program to help you negotiate an attractive capitalized cost for your lease.
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The money factor that is being used to calculate your monthly payment is too high though. If you are in one of the states that Honda is running a special lease program on this truck in*, its buy rate lease money factor should only be .00048 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. Make sure that this is the factor that the dealer you are working with uses to calculate your truck's monthly payment.
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One thing that is hard for me to figure out is how my negative equity is affecting my payment. Do you take the money owed, times the MF and add it to the payment, or add it to the price of the car and then multiply it by the depreciation? Or is there some super secret let's see how much we can screw them payment factor that is used to determine how much I have to pay for money that I am already paying interest on? Thanks for the help.
Replying to: golfman2 (May 07, 2007 3:57 pm)
I also got the EXL on April 30. North Shore Honda was one of the dealers I had contacted. They were quoting me $428. Same terms 36 month 12k miles 0 down and the outrageous Nassau county tax of 8.625% in the payments. I ended up at South Shore Honda in Valley Stream at $415/mo. So I think you got a pretty good deal. BTW check out your window sticker all of these cars come with a full tank of gas.
wrwnyc and golfman. Could you please give me the email addresses of the internet managers that you did your deals with? That would be North Shore Honda and South Shore Honda, respectively?
Thanks
Is there any way to know if these low money factors will be availible in washington state in the near future? Why are some states included and some not?
thanks
Term = 48 Month
MSRP = $35325.00
EXL-2WD with RES and Side Step(785)
Price = $32353.00
28922 + 2125(Negative on Odyssey)+595 aquisition fee + discounted side step(got a -75 credit in there somehow)-1000 down payment
Residual = $13470.00 (39%)
Money Factor .00265
Tax = 6%
Payment $550.00
Bookmark | Reply
Replying to: caprovo (May 01, 2007 8:16 am)
Greetings Carl. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Honda Pilot EX 4WD without leather in New York with 12,000 miles per year are .00048 and 55%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. This truck's monthly payment will depend upon what sort of selling price you are able to negotiate on it. Using a selling price of $500 over dealer invoice, $29,118, I come up with a zero down, pre-tax monthly payment of around $350.
hi car man
i just got a figure from the sales rep at south shore honda stating that due to the money factor change from april to may (.00004 to .00048), that the lease payment on the above referenced lease increases by $60 per month. based on your numbers above (the purchase price, and the vehicle being exactly the same) does that sound about right?
he said the payment would be 461 per month. (this has to be with the tax rolled in)
does that sound right?
also, could you (or anyone) point out to me the formula for converting money factors into percentages?
thanks
I tried the numbers with Car_man's sale #, 8.25% tax rate and the new money factor. I got you numbers of $349.27 pre-tax and $378.10 with tax - his numbers are definitely correct. I tried the change in numbers on my own lease - it was a ~$22 difference, not $60 and that was for an EX-L w/Navi. So, out of curiosity, I tried this with the numbers for you and I got the same difference.
Here's my calculations for your lease:
MSRP: $31540 (includes $595 dest. fee)
Sale Price (per Car_man): $29118
Residual: $17347 (55% of MSRP)
.00048 money factor
$349.27 pre-tax
$378.10 with tax
What is the sale price they are offering you?
Hope this helps.
Would it be better for us to pay off the remaining lease payments ourselves?
Should we wait until June to see if a better offer comes through from Honda Finance? (We are now have 300 excess miles but feel we can keep this to a manageable level.)
Are there other lease companies which would be competitive with Honda Finance, or are we obliged to deal with them?
Does Honda Finance, or the dealer we arranged our current lease through, offer incentives to lease another Honda Pilot (rather than switching to another make/model)?
Many thanks for all your very helpful information.
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Replying to: haewalli (May 11, 2007 10:17 am)
#1116 of 1117 Re: Pilot EX 4WD lease [haewalli] by suvgal May 11, 2007 (2:34 pm)
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Replying to: haewalli (May 11, 2007 10:17 am)
Haewalli,
I tried the numbers with Car_man's sale #, 8.25% tax rate and the new money factor. I got you numbers of $349.27 pre-tax and $378.10 with tax - his numbers are definitely correct. I tried the change in numbers on my own lease - it was a ~$22 difference, not $60 and that was for an EX-L w/Navi. So, out of curiosity, I tried this with the numbers for you and I got the same difference.
Here's my calculations for your lease:
MSRP: $31540 (includes $595 dest. fee)
Sale Price (per Car_man): $29118
Residual: $17347 (55% of MSRP)
.00048 money factor
$349.27 pre-tax
$378.10 with tax
What is the sale price they are offering you?
Hope this helps.
thanks dawgs (for the mf converter number) and suval (for the calcuations)
unfortunately, it has been slow going getting actual quotes out of these dealers via email. they want me to come in. i understand that this takes the control of the negotiation away from me, and gives the edge to them. however, i am not getting quotes so i may have to make at least one appearance in each dealership, before they take me seriously.
the South Shore Honda salesperson threw that $461 figure at me over the phone. i was non-committal about a purchase or lease, but once you start asking "lease-like" questions, they can figure out that is the way you are leaning. he said because of the money factor change, that the lease payment increases about $60 per month. i'm glad you did the calculations you did. now i will be armed with more facts when i have to do the down and dirty job of face-time with them.
these "negotiations" are very stressful.
I had the same problem with dealers wanting me to come in. My reply to each was I will only be visiting dealerships that I have received written quotes from. I told them I was screening calls so please do not attempt to call me and either negotiate over the phone or ask me to come in. I also asked each dealership to provide me with selling price, price per month and residual so I could check their numbers and make sure they were being honest. Tell them exactly what type of lease you want (36 mos/12K). Try contacting 10-15 dealerships - the ones that want your business will respond. Also, it's about the middle of the month - tell them you plan to buy soon (like towards the end of the month) - they'll want you for their quotas and you may even have more negotiating stance as well.
What can I expect in my area for a Pilot EX-L with RES. I was quoted via internet MSRP 34140 with Sale price of 29,950 with 3000 down and only 48% residual. I am seeing people with much better deals with no money down. Also what is the deal with tax - are you expected to pay the total tax of the car to the dealer - built into your lease price. I can't get dealers to itemize these costs - they just want to give me monthly payments - I can do the math myself.
Pilot EX-L, my color choice, NO navi. $3K down. Tier 1 Honda credit w/rate of 1.152%. Money factor of .00048, $405/mo. tax incl. Residual around 14,500. The down consists of $750 value for old van. Low monthly payment is important!! IS THIS GOOD FOR SAN FERNANDO VALLEY AREA?
Thanks....
Hope this helps
Bill G
2017 Accord Sport CVT Mod Steel Metallic