Honda Pilot Lease Questions

dave141

Thanks Bill.

Anybody else have input? We will be doing the transaction by the end of next week. Thanks....

agreenberg

For the month of May, is the money factor in New Jersey for an EX-L with RES .00048, and the residual 55%? And if so, will that change in June?

I just made my final lease payment on my Chrysler Pacifica yesterday (may 24th), and I am due to turn it in on June 24th. Not sure when I grab the Pilot.

Thanks in advance.

leahp

I am currently in negotiations to lease an 07 Honda Pilot / EX-L/4wd with entertainment - 36mo/12 yr. I was quoted a price of $425.00 (incl tax) with $2300 out of pocket. Is this a good deal?

Thanks!

jackson11

Can someone tell me what the payment for an EXL FWD in Ohio should be? They are telling me the price is $30,696.00. I'm trying to get my payment under $400.00 and we have the special lease program. Nothing down-I was hoping to go for a 48 mo. lease/12000 miles a year but they tell me that this is more than a 36 month/12000 mile a yr. lease. 6.5% tax rate. Should I be trying to get the price lower than $30,696.00? I want the best deal out there and I saw where someone had a payment plan at $378.10 a month!! And what does the money factor mean and is it different from state to state? The lowest payment I've been quoted is $442.00! Help me, please!! Thank you in advance!!

jackson11

or anyone else who has input!!

jcseymour

I was quoted $24900 before tax on a 2007 Pilot LX with AWD. Does that sound like a good deal?

dsambursky

What do you think is the best price for a ex-l 4wd w/o nav or res?

kwyoon

Anyone know the money factor for June on a 3 year lease?

scooter21

Could someone please let me know the best info available for money factor, residual and purchase price for June for a 36 mos./12,000 mile lease for an AWD EX-L? I'm in MA.

purplevikes

Hi,

I am planning leasing AWD EX and wondering what the money factor, Residual value is for 36 months/12000 miles lease for June in Minnesota?

Thanks

scooter21

Could someone please let me know the best info available for money factor, residual and purchase price for June for a 36 mos./12,000 mile lease for an AWD EX-L? I'm in MA.

scooter21

For a Pilot EX-L AWD in MA:

Is the money factor for a 36 mo/12k mile lease .00094 or .00048 for top credit?

Is $100 under invoice an ok price, or is the $2000 dealer cash in play?

Is the residual 54%

Thanks very much!

CarMan@Edmunds

You're very welcome, duaneman. I'm glad that you have found this site so helpful.

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CarMan@Edmunds

Hey dawgs_rule. If you have negative equity that you want to roll into your new lease it would have to be added to the selling price of your new vehicle before your monthly payment is calculated. You cannot add it to your vehicle's MSRP.

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CarMan@Edmunds

You're very welcome, duaneman. I'm glad that you have found this site so helpful.

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CarMan@Edmunds

Hey dawgs_rule. If you want to roll negative equity into your new lease it will have to be added to your new vehicle's selling price. You cannot add it to your Pilot's MSRP.

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CarMan@Edmunds

What you were told is not correct, Schantzy. The special regional lease money factor of .00048 is available on all Pilot models, both 2WD and 4WD.

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CarMan@Edmunds

Hi cjstanton. Honda's current regional special lease program on the 2007 Pilot is scheduled to run through July 5th. It is difficult to say what its replacement program for this model will be like. I guess that Honda is only providing lease support on the Pilot in some states because it feels as though the supply of this model is low enough or the demand for it is high enough already in your state. If I was considering leasing a Pilot and I was in a state that the current special lease program for it was not available in, I certainly would wait until the new July lease program is introduced to do anything.

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CarMan@Edmunds

Hey dawgs_rule. The selling price that you were quoted for this truck looks great. The money factor is right in line with Honda Finance's buy rate for a 48 month lease of one with a waived security deposit in an area that doesn't have the special lease program. Of course, you probably would be better off waiting until you are less upside down on your Odyssey to get something new, but if you are set on leasing now this is probably as good a deal as you are going to get on this truck in your state.

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CarMan@Edmunds

Hi seaview425. Ideally, you would wait until you didn't have any payments left on your current lease to get something new. If you really don't want to do so, then it would probably be best just to make the last two payments yourself and start your new deal with a clean slate.

Indiana is one of the states that Honda's current special lease program on the Pilot is available in, so I highly doubt that you will be able to get a better deal on this truck by leasing it through an independent bank. I don't believe that Honda currently has any special owner loyalty incentives on the Pilot, other than possibly waiving the security deposit on your next lease at no charge.

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CarMan@Edmunds

Hi aidawg. I don't believe that Honda's special regional lease program for the Pilot is available in Tennessee right now, so it will probably be more expensive to lease this truck in your state than it would be if you were in a state that has the special program. You never mentioned what your Pilot's selling price was. It will help me to evaluate your deal. Let me know what this number is and I'll tell you what I think.

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CarMan@Edmunds

Hi pelks. I believe that Honda Finance's special .00048 regional lease money factor is available on both 2WD and 4WD models.

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CarMan@Edmunds

Greetings david101. Let's work up a lease payment on the truck that you're interested in and see what we come up with. According to my calculations, if you were to lease a 2007 Honda Pilot EX-L AWD with the entertainment system but without navigation that has an MSRP of $35,440 and a selling price of $32,643 ($500 over invoice) through Honda Finance in New York right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be $410, assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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CarMan@Edmunds

Hi dealseeker8. The fact that you do not want to make such a large down payment on your lease is smart. Consumers can and should lease any vehicle that they want without making any sort of capitalized cost reduction. The residual value that you were quoted for this truck is correct. Using it, Honda Finance's special regional money factor of .00048, an MSRP of $34,140, and a selling price of $29,950, I estimate that this truck's zero down, pre-tax monthly payment should be around $399. I am not familiar with how sales tax is calculated on leased vehicles in Florida, but you may be able to find out by visiting one of the following sites: Florida Department of Motor Vehicles or Florida Department of Revenue.

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CarMan@Edmunds

Hi agreenberg. Honda Finance's June lease program for the Pilot is exactly the same as it was in May. Its buy rate lease money factor and residual value for a 36 month, 15,000 mile per year lease of an '07 Pilot EX-L AWD with the entertainment system but without navigation in New Jersey are .00048 and 53%.

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CarMan@Edmunds

Hello leahp. 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.

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CarMan@Edmunds

Hi jackson11. Let's work up a lease payment on this truck for you and see what we come up with. According to my calculations, if you were to lease a 2007 Honda Pilot EX-L 2WD without the entertainment or navigation systems that has an MSRP of $32,540 and a selling price of $30,696 through Honda Finance in Ohio right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $424 assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. What you were told about a 48 month lease being more expensive than a 36 month lease is correct. Honda's special lease money factor for this model is only available for up to 36 months. The money factor for a 48 month lease would be over five times higher.

If I was in the market for this truck right now, I personally would shoot for a selling price of more like $30,000. Dropping the price to that level would reduce this truck's monthly payment to $404.

Money factors are used to calculate the interest portion of lease payments. You can convert money factors into approximate interest rate equivalents by multiplying them by 2400. Honda's lease program for the '07 Pilot varies by state. Fortunately, Ohio is one of the states that this truck's most attractive lease program is available in.

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CarMan@Edmunds

Hi jcseymour. The dealer invoice price for a 2007 Honda Pilot LX AWD is currently $26,314. The selling price that you were quoted is below invoice. This leads me to believe that Honda's special lease program for this truck is not available in your state because the dealer must be using the $2,000 dealer cash that is available on it to arrive at such a low selling price. When the dealer cash is taken into account, the price that you were quoted amounts to around $586 over invoice, which is a pretty good deal. Make sure to stop by the following discussion for more feedback on Pilot pricing: "Honda Pilot: Prices Paid & Buying Experience".

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CarMan@Edmunds

Here you go, kwyoon. Honda Finance's June buy rate lease money factor for a 36 month lease of the 2007 Pilot is .00048 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. in states that it is running its special lease program in. Unfortunately, California is not one of these states. If you were to lease this truck in California, you would have to use Honda Finance's standard lease money factor of .00275 (36 months, Super Preferred, with security deposit). While this lack of lease support in your area is annoying, it does allow you to use the $2,000 dealer cash that is available on the Pilot right now to negotiate an attractive selling price. This cash is not compatible with the special regional money factor.

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CarMan@Edmunds

Fortunately, scooter21, Massachusetts is one of the states that Honda's regional special lease program for the Pilot is available in. If you were to lease a 2007 Pilot EX-L AWD without the entertainment or navigation options through Honda Finance right now for 36 months with 12,000 miles per year in your area, its buy rate lease money factor and residual value would be .00048 and 54%, respectively assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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CarMan@Edmunds

Hi purplevikes. This truck's special regional lease program is available in Minnesota as well. Honda Finance's current 36 month, 12,000 mile per year buy rate lease money factor and residual value for an '07 Pilot EX without leather, navigation, or the entertainment system are .00048 and 55%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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CarMan@Edmunds

Hi scooter21. In Massachusetts, Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Pilot EX-L AWD without navigation or the entertainment system with 12,000 miles per year are .00048 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

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CarMan@Edmunds

Hey scooter21. See my previous post for the money factor information that you're looking for. The $2,000 dealer cash that Honda is providing on the Pilot is not compatible with its special money factor. $100 under dealer invoice is an excellent price for a Pilot leased using the special program.

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jcseymour

Car_man -

How I get the dealer to give me the best money factor available? You mentioned that the money factor for Minnesota is .00048, but the dealer is telling me the best money factor they can offer is .00094.

Thanks,

Jeff

tjta1

Car_Man

I received a lease quote in the Tampa area for 36 months, $0 out of pocket, 15k miles/year on a EX-L 2WD w/ Nav for $436 month plus tax. Based on other numbers I have seen, this appears to be a pretty good deal. The quoted money factor is .00048 but I didn't get the cap cost. Could I expect the cap cost to be any better than a couple hundred over invoice on a lease? Thanks

Kirstie_H

A reporter from a large local newspaper would like to speak to consumers who have just leased a vehicle. Please respond to ctalati@edmunds.com no later than June 21, 2007 with your daytime contact information.

purplevikes

I got quotes from Hopkins Honda, TomKadlec and MotorWerks all in Minnesota and they are quoting 0.00094 for AWDs and both the dealers are saying it is for 2WDs the MF is 0.00048

Thanks

scooter21

FYI: According to several dealers in MA, there is a difference in the money factor offered by Honda Finance. I've pushed hard on this issue, but they are saying that the money factor is .00094 for the AWD Pilot and .00048 for the 2WD. When I presented copies of posts to this site, they countered by presenting to me flyers (which puportedly were from Honda Finance Corp.) that confirm the difference in money factor.

Good Luck!

bcrand

tjta1,

If you dont mind, what dealer was this quote from? Ive been trying to get actual quotes over the phone without much luck in the tampa area.

The only quote I've gotten was for an EX-L w/Nav, MSRP 34740, res. 48%, selling price 32109, money factor .00048 for a 12k miles/yr 36month lease. With 0 down at closing, monthly payment of $509.

After putting these numbers in the lease calculator, I got $484/month. Sounds like fuzzy math to me.

tjta1

Regal Honda in Lakeland, internet quote

bragot

Hi All:

I received the following quote from Hondaworld in Westminster, CA. Can you let me know if this is a good deal?
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The selling price is $29000, 36 months, based upon super-preferred credit approval, 12,000 miles a year, $761.79 drive offs, the monthly payment is $422.44 including tax for OC. The money factor is .00048 and the residual is 50%.
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Is drive off the same as a security deposit?

Thanks!

jstewie23

Looking to find out the money factor and residual on the EX-L 4WD model in NJ. No navigation or DVD system. looking at 12k miles for 36 months or 15k miles for 36 months.

Also, any update on the July incentive programs? We won't be ready to get a new car until July.

TIA.

pelks

I've been told this as well. I might roll the dice on getting a better deal on an '07 when the '08s hit the lot. Have you signed a deal yet Scooter? If so, please share the details.

Thanks!

madisoni30

I just made a deal for a new 07 Pilot...2WD with DVD system....Black with saddle interior....money factor was .048 and a lease of 3yrs, 20k per year...

Dealer, Zimbrick in Madison, WI was great to work with and they made every effort to do it all right....They must have....we bought a new Odyssey last week and picking up the Pilot on Wednesday...

hondafan14

Just got the 07 Pilot EX-L with RES, Formal Black with grey leather. The deal :

Total $1800 out of pocket (Includes Tax, Title, first month payment, bank fees, etc.) 36months/ 12K/year for $415 per month including taxes. BTW, this is in NJ... walked in and walked out with car in less then 2 hrs.
Hope this helps any NJ buyers....

vrynice

Good info....Can you tell me the dealer in NJ? Thanks.

hondafan14

Sure. This was at DCH Kay Honda in Eatontown, NJ. Very easy to deal with, no pressure. I named my price, they agreed with some hesitation and we had a deal. Go with the internet department. They are good.

jstewie23

Does anyone know the details on the July incentives???

jstewie23

new lease programs come out today. Anyone with updated info??? Looking to go car shopping tomorrow.

jstewie23

Just heard from Clinton Honda in NJ. Looks like those of us who waited are in for some bad news. From my email:

"I wanted to let you know that the leases on the Pilot have changed and there are no more lease 'Specials' as of this time. The new money factor is 0.00300"

Waiting for info from other dealerships in NJ to compare.