Honda Pilot Lease Questions

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  • delta737hdelta737h Member Posts: 626
    pcantore,

    Lease inception basically means lease origination or the point in time at which the lease is signed. Probably not a very good word choice on my part. At this time, up front charges are due and payable. If it's a sign and drive lease, I usually pay only TTL charges.

    Hope this clarifies things.

    John
  • pcantorepcantore Member Posts: 148
    Thanks John,

    I thought it was part of the Adjusted Capitalized Cost, of the Excel lease formula. I'm building mine at this time, which by the way yours is very good. So, it became unclear to me where "lease inception" is placed.

    Thanks again for your help.
  • dru37dru37 Member Posts: 42
    I was quoted MSRP $33,445, sale price $32,662 for a 2008 EX-L. Anybody have any comparison points? The dealer has no 2007's available.
  • fletchedmfletchedm Member Posts: 39
    Just wanted to let everyone know as an FYI, that Honda did agree to extend my lease. They questioned it for a second on the phone, but then sent my paperwork to me and it has been processed. The paperwork looks ridiculous though since the car will only depreciate $50 over the next 2 years!

    -Fletch
  • bochito_ebochito_e Member Posts: 2
    Car_Man

    Just wanted to say that I love what you guys are doing with this forum. I have learned so much just by browsing. Thanks for giving us the info to better prepare when going to the dealership.

    I do have one question though, does anyone know the money factor for the 2008 Pilot. I currently live in Dallas,Texas and would like to lease a Pilot VP. I don't really care much for the add ons or extras so I believe the VP will fit me nicely. Is the following deal worth the hype.

    Closed-end lease for 2008 Pilot 2WD VP Automatic Transmission (Model YF2828EW) for $299.00 per month for 36 months with a $2,105.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,999.00 total due at lease signing (includes first month's payment, security deposit, AHFC upfront acquisition fee and capitalized cost reduction; total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Security deposit waived in lease example. Not all buyers may qualify.

    Subject to limited availability. Through 10/1/2007, to approved lessees by American Honda Finance Corp. Closed end lease for 2008 Pilot 2WD VP Automatic Transmission vehicles (Model YF2828EW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $29,030.00 (includes destination) less the capitalized cost reduction (which may be paid by the suggested dealer contribution) resulting in actual net capitalized cost $23,997.83. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $10,764.00. Option to purchase at lease end $15,676.20. Lessee responsible for maintenance, excessive wear/tear and 15 cents/mi. over 12,000 miles/year for vehicles with MSRP less than $30,000, but for vehicles with MSRP of $30,000 or more, mileage cost is 20 cents/mi. over 12,000 miles/year. See dealer for complete details.

    What do you think I should do. What info should I get from the dealership to make a decision on whether to lease or continue searching. Upgrade or what? Thanks for your help

    Bochito_e
  • ultimatumultimatum Member Posts: 1
    Hi, I'm new here. Looking to lease a 2008 Pilot EX-L with RES as my 2004 MDX was just totaled in an accident. I was quoted $1500 down and $469/month including tax, registration etc. Is this a good deal? Thanks.
  • guardian312000guardian312000 Member Posts: 1
    2008 Pilot EX-L with NAVI

    36 months, 15k miles, residual = .50

    Honda's Lease Rates (36 months):

    Super Preferred: 1.71%
    Preferred: .0029

    Acq Fee: $595

    MSRP: $34,840.00
    PRICE: $33179.00
    Govt Fees: $16.50
    Taxes: $294.84
    Doc $289.00

    Tot Init PMT: $3,514.30
    ADJ RESIDUAL $17,420.00

    Is this a good deal or look else where?
  • bochito_ebochito_e Member Posts: 2
    Invoice Prices:
    EX-L with navi (front wheel drive):29,016
    EX-L with navi (four wheel drive):30,282

    Give them 1% over invoice price. This is a lease so avoid putting a down payment. You have a good money factor of .00171. If you drop it to 1% invoice with that money factor and no down payment you will have a decent price. You must bargain with them.

    If you do it right you can have a monthly payment of $534 with no money down.
  • cennis1cennis1 Member Posts: 31
    Under the national $309/month with $2,999 down deal. With a 57% residual, .00141 MF and a $2,000 cap cost reduction from Honda, it seemed like a good deal to me, and made for a very smooth transaction. They were also more than reasonable on the trade, which was nice. The wife is happy.

    I do have a conceptual question if anyone has any thoughts. Why is it that when you put aftermarket options (we got the side steps) on a leased car they are not just added into the lease calculation. I had just assumed that they would increase the price, residual value, etc. and that the payment calculation would be adjusted to reflect this. Essentially the step would be depreciated with everything else. This makes sense to me as at the end of the lease, I will give them back with the rest of the car. Of course this isn't how it worked out. The price and residual were not adjusted at all and the entire cost of the step will be paid over the course of the lease. So it seems to me that we will be "renting" the vehicle, but "buying" the steps, but at the end of the lease we won't own the steps and will still have to give them back. Doesn't make sense to me. I can kind of see that we get value from it not being figured into the cost and residual if we buy the car at the end of the lease, as we will be able to buy a slightly more valuable vehicle for cheaper, maybe we break even in this case. But if we give it back, don't we get screwed?

    None of this will change anything. I'm not worried about the ~$10/month difference and still think it was a good deal. I asked this of both the sales and finance people and nobody could answer any better than "that's how it is." I don't doubt that's how it works, I'm just more curious than anything as it doesn't make sense to me.
  • stakeoutstakeout Member Posts: 173
    does anyone know what the current 36 month Honda Finance-Lease numbers are for a 2008 Pilot EX-L 4wd...

    was looking for Residual percent.. as well as 'money factor'/interest rate

    also did some research but noticed that there isn't any 'dealer cash' anymore on the '08...

    any updates on this info much appreciated.. :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks Bochito_e. I'm glad that you like this forum so much. Honda just enhanced its special lease program on the 2008 Pilot for the month of October. If you were to lease a 2008 Honda Pilot VP 2WD through Honda Finance right now for 36 months, its buy rate lease money factor should be .00121, assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Honda's current advertised lease for the 2008 Pilot is a pretty good deal, but like most manufacturers' advertised lease payments I suspect that savvy consumers who are in an area that has a decent level of competition can shop around and negotiate a lower selling price than the one that was used to arrive at the monthly payment that was mentioned in the ad. Negotiate as low a selling price as you can on the Pilot that you want and then have the dealer that gives you the best price calculate your lease payment using the aforementioned money factor.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome ultimatum. the best way to evaluate a lease is to take a look at the vehicle's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. I would be happy to give you my opinion of the deal that you were offered on the Pilot that you are interested in if you tell me what its selling price is. For now, I can tell you that you need to make sure that the dealer you are working with uses Honda Finance's buy rate lease money factor to calculate your monthly payment. Honda Finance's current buy rate for a 36 month lease of an '08 Pilot EX-L 4WD is .00155 for consumers who qualify for its top credit tier and pay a security deposit at lease signing.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings guardian312000. Since you are new to 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 offered. Honda Finance has enhanced its special lease money factor for the 2008 Pilot for the month of October. Its current buy rate for the 2008 Pilot EX-L 2WD is .00121 for consumers who qualify for its top credit tier and pay a security deposit at lease signing. Make sure that the dealer that you are working with uses this factor to calculate your monthly payment.

    Now let's take a look at the selling price that you were quoted. I believe that Honda's dealer invoice for this truck is $31,640. That puts the selling price that you were quoted at around $1,500 over invoice. If you are in an area that has a decent level of competition, there is a decent chance that you can beat this price by a couple hundred dollars. I personally would shoot for a price of around $500 to $1,000 over invoice and see what happens. You should be able to get an idea of what sort of price you can expect to negotiate on this truck by visiting the following discussion: "Honda Pilot Prices Paid and Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new Pilot, cennis1. Many banks do not allow the residualization of aftermarket options. This is because a number of them have been burned over the years by overpaying for tons of aftermarket items that do not do much to add to the eventual resale value of vehicles. Banks don't want the aftermarket items at lease-end and they are not going to pay for them. This means that if you want any aftermarket options added to a vehicle that you want to lease, you are going to have to pay for them entirely. That's the bad news. The good news is that you actually own them at lease-end. If you can remove the options without damaging your vehicle, take them with you and use them in your next vehicle or sell them on e-Bay to try to recoup some of the money that you spend on them.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, stakeout. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Pilot EX-L 4WD without navigation or the entertainment system with 15,000 miles per year are .00155 and 55%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Honda is still providing $1,000 dealer cash on the 2008 Pilot, but it is not compatible with Honda Finance's special lease program.

    Car_man
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  • moose186moose186 Member Posts: 2
    Hi-
    I have a leased 2004 Pilot EXL with a residual value of $18,517. The Cap Cost was 29,181. It was a 3 year lease, and the miles on the car are 38,500. The lease is up at the end of October. Either thinking of buying this out or getting into an 08 or 07 CR-V.

    The Edmunds, NADA, and KBB market values for the Pilot are all around $20,500.

    Any advice would be much appreciated.

    Thanks-
    Gregg
  • ziadsabetziadsabet Member Posts: 1
    I have this offer for Honda Pilot 2008 4WD value pack:

    1st payment including tax, registration and first monthly payment is $ 1625
    monthly payment: $ 636
    lease term 36 months
    miles/year: 12000

    this is before negotiating the price.

    Do you think that I should go ahead and negotiate, and how far should I aim for?

    Someone told me to wait to Nov or Dec that I might get a better price or a better deal for Toyota highlander or Mazda CX 9.

    This is my first lease and my first new car and I am still confused. Any ideas?
    :confuse:
  • zebulahzebulah Member Posts: 3
    I just made a deal that seems too good to be true. I'm kind of waiting for the other shoe to fall. Anyway, I'm picking up the car tomorrow. If something happens on pickup, I'll know I've been had.

    - 2008 Pilot SE 4WD
    - NYC Area
    - 36 Month Lease
    - At Signing: Tax, Honda Finance Acq Fee ($595), DMV, first month
    - 12,000 Miles per year
    - Monthly Payment: $348

    We bargained them down to $500 below invoice and with the .00155 Money Factor and a 56% residual it all seems right (according to the various lease calculators out there). To tell the truth we hardly bargained at all. I had the distinct feeling I could have gotten another couple of hundred off the price. But compared to other dealers the pricing was good enough to make me stop bargaining.

    Is there some new level of lease support from Honda that is making this happen? With the new design coming online and the Highlander so popular, maybe Honda is looking to move these things.

    But considering this has a moonroof and a DVD player, the price seems pretty incredible.

    Opinions? I'll report back tomorrow if I end up unhappy.
  • kalaharikalahari Member Posts: 1
    Zebulah, that sounds like an amazing deal! What dealership is this? Good luck tomorrow!
  • nycernycer Member Posts: 1
    Car Man:

    Above you noted that for a 2008 Honda Pilot VP 2WD through Honda Finance for 36 months, its buy rate lease money factor should be .00121, assuming that buyer qualify for Honda's "Super Preferred" credit tier and pay a security deposit at lease signing. Would this apply to the 4WD EX-L W/Navigation? Also, assuming a 12,000 miles/year, would the residual value be %57? Does Honda publicize these lease deals, how would a customer come to know about this information (besides this message board)? Thanks.
  • jimmie4jimmie4 Member Posts: 3
    I was just quoted 52% residual for a 2008 Pilot exl 2wd by a dealer. Does anyone know if this is correct. In August it was 55% with Honda Finance. Can the dealer negotiate this factor?

    Jimmie4
  • zebulahzebulah Member Posts: 3
    This is a follow-up to my message from 10/24.

    Got to the dealership and everything seemed hunky dory (except for a cosmetic issue with the Pilot which they whisked away to fix). Anyway, just when we were about to finish the sales manager called us in and reported that an error had been made. They had been working off the wrong invoice price (an EX price, not an SE) and the deal couldn't happen. We were understandably -- and justifiably -- upset (and we had their offer in writing).

    Anyway, either we are very gullible, or these guys are great actors. We ended up believing them. They offered us a lease based on the invoice price of the Pilot. It came to $388 per month (with all other terms same as referenced in the original post). When we asked about increasing the lease to 15000 miles per year they offered to do it for $15 more per month. They also offered us four free oil changes. It still seemed like a pretty good deal and we took it.

    The cosmetic issue ended up being unfixable, so we are going back either tomorrow or Saturday to get a different vehicle.

    So are these guys the greatest salesmen of all time, or did they legitimately make an error? And are we suckers for getting fooled by a bait and switch, or are we nice people for accepting a decent offer and not demanding the original great deal?

    I suppose that either way, it is pretty much a positive (or at worst neutral) influence on our karma!

    I'll report back after we actually have the car in hand. This story ain't over yet.

    By the way, I haven't posted the dealership's name intentionally. Once this is all over I will do so...
  • zebulahzebulah Member Posts: 3
    So this is a follow-up to the follow-up:

    It was Staten Island Honda.

    Besides shlepping out there and the $9 toll, it all went well. Car was great. Final deal was real.

    I'm going with the "they made an honest mistake" theory.

    Final deal:
    Highlander SE (DVD, moonroof, mats)
    Tax, First Payment, DMV up front.
    $404 a month for 36 months
    15000 miles per year.
    Four free oil changes.

    Seems like a good deal. Was it?
  • kencivickencivic Member Posts: 3
    Here is the deal..what do you think.

    Alabama
    MSRP 34,880
    cap cost 31,639
    50% residual
    36 mth/15,000yr
    money factor 00121
    due up front $887 ( admin fee $595, billing & clerical$399 and registration $16.50)
    monthly payment $471.05

    M
  • bartenderfloydbartenderfloyd Member Posts: 8
    I just leased this vehicle last week from Honda in Paramus, NJ. 36 month, 12k mi/yr, here's what I gave them out of pocket:

    $595 Bank fee
    $199 Doc Fee
    $199 Reg Fee (NY Reg)
    $445 First Month Payment
    ------------------------
    $1438 Total out of pocket

    The payments are $445/mo including 8.25% tax.

    I had the same terms from Mahwah and Staten Island but neither of them could go below $453/mo so I think I got a good deal. Also, I was very skeptical at first but the salesman was very honest. The strange thing was when I looked at my lease the residual was around 61% with the money factor at .00155. I don't have the lease in front of me but the price was $28000 or so and the residual was $18000 or so. When I plugged in the rest of the numbers to the lease formula I figured they could have gone as low as $437/mo but since 2 other dealerships couldn't come close to $445/mo I wasn't bothered by the extra $288. If anyone needs more details I'll gladly provide them.
  • jpautojpauto Member Posts: 11
    Hi,

    I will be deciding between a CR-V and the Pilot and would greatly appreciate the November 2008 money factor and residual for this car (2008 pilot EX-L 4WD - no nav and no ent.) to aid in figuring out how they lease out. Looking for 36 months and 12k miles per year.

    Thanks!
  • jpautojpauto Member Posts: 11
    Almost forgot: Is there any cash/support available that can be used with an AHFC lease on the Pilot in November (for example the $1000 incentive I have heard about)?

    Thanks again!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ziadsabet. Did you say that you were quoted $630 a month to lease a Honda Pilot :surprise: . That definitely is no bargain. You can get a lot of amazing vehicles for less than that. Did the dealer quoted you a selling price? You definitely need to find out how much of a discount, if any you are being given on this truck. If you are in an area that has a decent level of competition I suspect that you will be able to lease a 2008 Pilot for $500 over dealer invoice or so.

    Since you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to getting into any serious negotiation with dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nycer. For the month of November, Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2008 Pilot EX-L 4WD with Navigation and 12,000 miles per year are .00117 and 50%, respectively for consumers who qualify for its top credit tier and pay a security deposit at lease signing. Honda advertises sample lease payments for a number of models, but it does not provide information on its money factors and residual values to the general public.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello jimmie4. This truck's residual values vary by term and mileage allowance. Honda Finance's November residual value for a 36 month lease of a 2008 Pilot EX-L 2WD without navigation or the entertainment system with 12,000 miles per year is 51%. Let me know if you need the information for a different set of variables.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kencivic. The money factor that you were quoted looks good to me. If I recall correctly, it is right in line with what Honda Finance's buy rate for this model last month (it has subsequently been reduced to .00082 for the Pilot 2WD in November. The selling price that you were quoted for this truck looks great too. It is right in line with its dealer invoice price. If you like the Pilot, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Pilot, bartenderfloyd. Thanks for taking the time to stop back and share the details of your lease with everyone. Make sure to hop on over to the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, jpauto. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Pilot EX-L 4WD without the entertainment or navigation systems with 12,000 miles per year are .00117 and 54%, respectively for consumers who qualify for its top credit tier and pay a security deposit at lease signing.

    Car_man
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  • yinzer1yinzer1 Member Posts: 13
    HONDA NORTH
    Pilot 4WD VP
    MSRP $29,630
    Sale Price $27,800
    Residual Value $16,296.50
    Base Cap. Cost $2,269.55
    Total Money out of Pocket $3,000
    Money Factor 0.00117
    Base Payment $322.73
    Total Payment $355

    I have been emailing alot of dealers in west pa and i am suprised but i cant seem to do much better than this offer above. I'm not saying it is a bad offer just thought i could do better. Can a host give me an opinion.
  • jimmie4jimmie4 Member Posts: 3
    Hi car_man.

    Thanks for responding to earlier message.

    When I asked AHFC for November MF & residual they said you have to get it from dealer. AHFC said it gives base amount to dealer who then may add on to it, (increasing profit) . AHFC claims it just buys contract from dealer. It seems that when MF declines, so does residual,.eg., the last 3 months.

    I live in Florida where dealers are requiring $599 for Doc. Fee, but will sell Pilot EXL 2WD for invoice of $29652. (MF .00082 and Residual of 51% as you indicated.) In light of Doc. Fee amount and Holdback, would an offer below invoice be reasonable? iF so, how much?

    Thanks,

    Jimmie4
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey jpauto. Honda is providing $1,000 dealer cash on the 2008 Pilot in November, but this dealer cash is not compatible with its special lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings yinzer1. Let's take a look at the deal that you were quoted. The money factor that you were quoted is right in line with Honda Finance's current buy rate for this model. This is a good thing because it means that the dealer you are working with is being very straightforward with you about this aspect of your deal.

    The dealer invoice price of a 2008 Honda Pilot VP 4WD is $26,896. That puts the selling price that you were quoted at around $900 over invoice. This isn't bad, but if you are in an area that has a decent level of competition, I would not be surprised if you were able to shave another couple hundred dollars off. Make sure to stop by the "Honda Pilot Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar trucks lately.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow, jimmie4, dealers in your area certainly charge high doc fees. Still, $599 over dealer invoice including the doc fee is a pretty good deal on a 2008 Pilot. If I was in the market for one, I personally would have no problem with paying that much for it.

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  • lookin4dealslookin4deals Member Posts: 1
    I guess I'm too new at this and I don't understand a lot of the lingo - but I'm in Denver, CO and I'm looking to lease a Pilot. I don't care about the options too much - so what would be the best Pilot to shoot for that will give me the lowest lease price / best value for my $$? I don't even know where to start, but I want to be smart about this. I've always owned my cars outright, but at the moment I can't afford to finance a purchase with this vehicle - I'm still trying to figure out if it's better/smarter to lease vs. own. Any advice would be much appreciated! Thanks
  • massjakemassjake Member Posts: 10
    I'm one month away from the end of a 36 month 05 Pilot LX lease and want to go with another Pilot. Presently I'm paying $302. per month and paid $0. towards cap cost. Vehicle was leased from Peters Honda in Nashua NH. I live in MA. Has anyone heard of a deal comparable to this in my area? I don't care about the trim.
    Thanks All.
  • thierryhenrythierryhenry Member Posts: 2
    Hello,

    I'm looking to lease a Honda Pilot EX-L FWD sometime between now and the end of the year, and am wondering what kind of Money Factor & Residual AHFC is offering, so that I can be in good shape to negotiate with the dealer. I live in Dallas, TX.

    Can you tell me the Rez/MF for a 3yr/45kmi & 4yr/60kmi lease?

    Thanks,
    Thierry
  • superhudsuperhud Member Posts: 1
    Hi:

    The lease price i was quoted seems high to me and i am hoping that you can tell me what i should be paying. I received a quote from a dealer on a new lease for an '08 Honda Pilot EXL AWD with navigation system of $480/month for 36 months with $2000 down and 15K miles. The total price of the car offered is $32,115 (1K below dealer invoice). The sale price seems great but the lease price seems way too high to me.
    This is the first car i've ever purchased so i have no idea what i should be paying. I would greatly appreciate your help.

    Thank you!!
  • strokeoluck2strokeoluck2 Member Posts: 91
    Hi all, we're looking at a 2008 Pilot EXL-AWD w/RES...and possibly one with NAV as well. For a minute, let's leave aside the "best price" question as I've asked that in the other Pilot forum. My question is whether we should lease or purchase. We've always purchased. But the Honda guy was doing his best to talk us into leasing. If we pay "cash" for this Pilot we'd be taking the money out of our home equity line of credit, and probably paying 7.5% on the money (I think, I have no idea). But then on that 7.5% we get to deduct the interest paid off our taxes, right? So that would reduce our effective interest rate down to about 5% or so, right? If this is all relatively correct, wouldn't this be a much better deal than leasing?

    Frankly the other two reasons I've always avoided leasing is 1) I dread the thought of worrying about nicks and scratches on our returned vehicle and what the dealer might charge us for that; 2) all the terms and "stuff" has always seemed very confusing to me - as if it's a way for the dealer to hoodwink the consumer. I consider myself to be of at least average intelligence, but when I start looking at "cap rates" and what-not, I just lose interest and say "aww to heck with it, just let me buy it".

    Thoughts?

    Thanks.
  • yinzer1yinzer1 Member Posts: 13
    A very cool thing which demonstrates how Honda wants to make their car ownership or lease-ership worry free. If you do a lease though AHFC (honda's finance arm) their is a built in excess wear and tear allowance for $1500. I had a friend with a small bodywork issue, curb rash and cig burn in seat and actually had no penalties.

    Also, here is a way to look at. Money factor of .0017 by Honda equals 4.08% rate. Money factor by 2400 gets ya that. So that is definately less than your home equity. At the end of the lease buy the car outright if ya want and you got some cheap money and you know the car your purchasing from new.
  • polypoly Member Posts: 14
    I'm going to lease a PILOT '08 AWD EXL w/ RES in NJ
    I'm not sure about all the exact details MSRP ~35,000, Sale Price ~30,000, Residual Value 51%
    but the bottom line deal is:
    $1,000 out of pocket + 35 payments of $442 all taxes and fees are included.
    I'm also returning a 05 PILOT AWD EXL which I still owe $644.15 on, which they will cover.

    any comments are welcome.
    :) :confuse:
  • yinzer1yinzer1 Member Posts: 13
    i have been emailing back and fourth for a couple of weeks 4 dealers in west pa. Keep on working on them and they will come down! Email your best offers to the other dealers and when the moment comes up that they really want to sell a car they will get back to you with a better deal but it took some time.

    Preston honda EX 4WD 3 yr/ 36000 lease
    $3000 down/
    $328 per month including 7% sales tax

    This was after an offer of 348 was sitting on the table for two weeks
  • civhybrid07civhybrid07 Member Posts: 9
    Carman -

    I believe Honda has released its December lease programs.

    Can you tell me the following for a 24-month lease (15k miles per year) of a 2008 Pilot EX 4WD? I'm in NJ.

    1) Money Factor

    2) Residual

    Thanks.
  • yinzer1yinzer1 Member Posts: 13
    So what did they do to the deal?

    The payment dropped $20 and they dropped the cap reduction by a thousand?

    Looks sweet to me.....

    What is the fine print?
  • jpautojpauto Member Posts: 11
    Hi,

    Please post the December numbers (cash, residual, money factor) for the 2008 Pilot EX-L 4WD - 36 months, 12k per year. Looks like it got better this month.

    Thanks.
  • dimka3dimka3 Member Posts: 1
    Hi Carman,
    Just want to know if deal that I got past Saturday is good?
    I got 2008 Honda Pilot VP 4WD in Brooklyn, NY.
    $339.00/month
    0 down, tax included
    1200 from pocket (bank fee, 1st payment, title fees)
    36 month/ 12000 miles per year

    Thank you
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