Hi, ok let me rephrase this because we have gone to the dealership and got the following deal, 2k down delivered including tax,tags etc no more money out of pocket 398
and this is a ex no add'l fees or cost
I also went to 2 other dealers and they were well over 440 per month it seems like this one is the best deal.
Hi leto. The last time that I checked, consumers needed a credit score of 710 or higher to qualify for Honda Finance's "Super Preferred" credit tier.
Unfortunately, the $2,000 dealer cash that was available on the 2009 Pilot in August is no longer available, but when it was available you should have used it to negotiate an extremely attractive selling price to base your truck's capitalized cost on.
Honda Finance charges a security deposit on all leases that is equivalent to their monthly payment rounded up to the nearest $25 increment.
If I was in the market for a 2009 Pilot right now, I personally would shoot for a selling price of a couple hundred dollars over invoice. You will be able to get additional feedback on how much you should pay for this truck right now by visiting the "Honda Pilot Prices Paid and Buying Experience" discussion.
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Here's the information that you're looking for, jl27. You never mentioned how long you want to lease for, or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Pilot EX 4WD with 15,000 miles per year are .00147 and 52%, 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 lease of an '09 Pilot EX-L 4WD are .00147 and 50%.
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Hey Car man et al, Are the residuals and money factor for a 36 mo 15k mile lease the same for a '09 Pilot Touring w/ RES? Does Honda currently have any dealer marketing incentives in play for this month? I have just started my search and have received 10 email quotes in the SFBay area. The quotes range from $39,665 to $36,500 on a MSRP of $40,665. Most quotes are within a few hundred dollars of the invoice price of $35,425, one is less than the invoice price. Does anybody know if a Touring 4/WD w/RES with Black Exterior / Black Interior is in limited production and difficult to find? Thanks in advance for your input.
Sorry, I was looking for 36mo lease with 12k a year, possibly 10k a year. We are at the end of our current 3 year lease with 27K on the odometer. Thanks in advance...
I currently have an EX-L with Res that I pay $405 a month for and my lease is over in two months. The best rate that I get now for the same exact car is $595 per month. How can it possibly change that much in three years???
Hey jnelsen. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Pilot Touring 4WD with the entertainment system and 15,000 miles per year are .00147 and 46%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
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No problem, jl27. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Pilot EX 4WD with 12,000 miles per year are .00147 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. I don't believe that Honda Finance offers leases with only 10,000 miles per year, but you can check with the dealer to find out for certain.
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Here's the information that you're looking for, andy5220. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Pilot Touring 4WD with navigation but without the entertainment system with 12,000 miles per year are .00147 and 49%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
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I, ideally, am looking for 36 mo/ 12K. I am qualified for "Super Preffered" rate and willing to pay upfront 1mo+deposit+MV fee + bank fee. Looks like my monthly payment (based upon September, 2008) would be in low $500.
Are there any pleasant news from Honda for october, 2008 lease deals? Money factor/incentives... anything?
I'm in the same boat. In view of the fact that Honda's sales were down 20+% in Sept., you'd think they would be more aggressive, although I haven't seen any specific sales figures for the Pilot. I hope to go talk to my dealer again this weekend and I will report what he says. When we first talked in July-August, our salesman advised us to extend our current lease for six months and to wait for some incentives, which we did. I noticed that he had a multi-page printout on his desk of all the dealership's customers who had maturing leases, including model and current lease payment. You'd think that, if he had some good lease incentives to offer, he'd be working that list hard.
That doesn't sound like a bad deal. It is better than what I am seeing from one dealer here in Central Ohio.
I spoke with dealer today. He said AHF money rate (Super Preferred) is down to .00147, but the residual is also down slightly to 52%. He didn't tell me the price, but said with zero down, 12,000 miles, 36 mos., the payment would be $552/mo. (which I assume does not include tax). Still too rich for me. I need to test drive the Veracruz and see what kind of deal Hyundai will make.
Hi leto. Honda's October lease program for the 2009 Pilot is exactly the same in October as it was in September, .00147 for consumers who qualify for its top credit tier.
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I too got a letter from Honda asking if we'd be willing to extend our lease. We have a 2005 MDX lease that ends at the end of this month. We've been denying the fact that we have to start shopping for a new car during this awful financial time and would actually love to extend our lease (a few months). I'm assuming their motivation has to do with the economy/gas/and lease losses...so, does anyone think there might be a little room for negotiation? For instance, extend our lease another 6 months if we can get it for $100 less a month?? I'm almost positive they will lose more money if we turn it in on time then if they give us the above adjustment, but we're terrible negotiators and would really, really appreciate any input/info/advice! Thanks!
Extending your lease is an option that is probably granted to you in the lease contract. I didn't read mine, but Honda Finance readily agreed to do it when we requested it. I think that you may do two extensions of from 1 - 6 months each, max total 12 months. You only need to pay the sales tax up front. We chose to extend because Honda was not offering any worthwhile leasing incentives for the 09 Pilot when our current lease was up. Our dealer thought it would be worth waiting a few months to see what happened. As you suspect, Honda does not mind waiting for the return of your vehicle which probably carries a residual value that is greater than the current market value. They may be praying for cheaper gas and a rebound in used SUV prices at the auction. However, I doubt very much that they would be willing to negotiate a lower lease price during your extension. Too much paperwork if they were to do that for everyone. You and I are just small cogs in a big machine. Although you might be out of the regular warranty, if your car was regularly serviced at the dealer, your drivetrain warranty would still be in effect. That's what the dealer told me.
I spent four hours in the dealership today, and walked away to think about it for the night. I have a lease on a Saturn Vue that ends in 04/2009, where I'm paying $350/month. Considering this, here is what the dealer offered me: $3,600 down, $410/month (monthly payment includes 9% tax). Money factor is 0.00147, and this is for 35 month term and 12,000 miles/yr. Sticker price was over $35,000, but I got them down to $29,469. Included in the reduction is $2,100 that they're going to give me so that I can return the Saturn.
I need a different vehicle by April, and I like this vehicle, but don't have to replace it until April if it's better to wait. With the economy and all, I would prefer not to part with $3,600 now or add $60 to my monthly payment, but I have no doubt it's worth the extra money over the Vue. If the deal is worth it, than I'll do it now. Otherwise I can walk away. Hopefully I've given you enough information to tell me if this is a good deal. I'm in Washington State.
IMO since you have until april you should wait. We are going into the Holiday season and many people are NOT looking to purchase vehicles at this time. This is a very slow time for the auto industry - that's why you may see incentives to boost vehicle sales. If you go back - you will see that there was a posting of the Honda Sales figures for September- which are down. If this is any indication of how serious our economy has been - October, November, and December sales figures should be equally on a downward trend. Just keep checking back with your dealers, perhaps one of them will give you a better deal to move out vehicles.
I told them I wanted to hold off, and now they want to lower the down payment. I think if everything else was the same, only $1,200 down instead of $3,600, I think I would probably do it.
It seems that they are willing to work with you. Inquire how much lower they are willing to go? if the deal seems to make sense to you and you truly feel that's the best you can do - they pull the trigger - and Congrats.
However, if your gut feeling says that you might be able to go a bit lower - just wait they will contact you again.
I was at a Honda dealer yesterday on Long Island, NY for a test drive of a 2009 Honda Pilot EXL. I really liked the car so I sat down for a bit to talk to the salesperson about a 36 month lease. I'm looking to pay tax, title, DMV fees, etc...(which he said would be approx. $2600), but no other downpayment. He told me the best he can do is $499 a month for a 36 month lease at 12,000 miles per year. That is considerably more than I wanted to pay. I have until February to get a new car so I'm willing to wait if the price is going to come down. Should I expect to do better than what they offered me? Sorry I dont have the price the dealer was working from, but I never saw the working numbers. Only the $499 written on the paper.
Without all the numbers, it is difficult to comment on your deal. I don't know anything about NY taxes on leases, but the number you quote ($2600) for "tax, title, DMV fees, etc." seems pretty high to me. Wouldn't the tax be included in each month's payment and not paid up front? I suspect that the dealer has included a downpayment in that $2600. I am hoping that slowing sales will lead to some better lease incentives from Honda's finance company in the near future.
Thanks for your reply. The number the dealer was using to figure out the lease was $31,878. The tax in NY is 8.5%. I'm not sure if this helps or not. Thanks!
$31,878 is amazingly close to the invoice price of an EXL AWD without NAV or RES. The question is, how did he get to that number? Was there a downpayment ("capital cost reduction") involved? You really need to get the dealer to itemize every amount in the calculation, including residual (should be around 52%), money factor (.00147), fees, taxes, etc. Does the $499/mo include sales tax? If so, it's not a bad deal, if it does not include a downpayment.
I told the dealer that the only money that I wanted to pay out of pocket was to cover the taxes, bank fees, motor vehicle fees, etc... I believe he said that that would mean I would have to come up with approx. $2600 and that my monthly payment would be $499 for 36 months. I asked him what number he was using to figure out the lease and I believe he said it was either $31898 or $31878. He mentioned that the dealership was making $900 on the deal. If I'm correct, I think that the invoice on the car is $31878. Maybe they are getting money from Honda for moving the Pilots? He never mentioned what the money factor or residual value for the vehicle was.
$499 per month for a Honda Pilot is absurdly expensive. Honda really goofed when they made this truck's MSRP so high. I was looking at one at the dealer the other day, it was cloth with no sunroof, and it had an MSRP of almost $33,000. I realize that no one pays full MSRP, probably closer to dealer invoice, and that there is a supported lease program, but still come on Honda. The Pilot is approaching M-Class territory with this sort of payment.
I am going to be in the market to lease a new SUV early next year and unless Honda makes some significant improvement to its lease program for the Pilot, I will likely find myself in a Toyota 4Runner or Highlander.
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Geez, Car Man, that's a little harsh. I think we can all agree that car prices are high and that Honda Finance is not offering the best incentives on the Pilot right now, but "absurdly high" is overdoing it a little. We are talking about an EX-L AWD here, with an MSRP of $35,195. Here are the MSRPs of some other makes (comparably equipped, to the best of my knowledge):
Mercedes ML350: $48,695 Acura MDX: $41,550 Toyota 4 Runner: $40,654 Toyota Highlander: $38,590
I don't know what kind of lease deals these brands are offering, but at least from the starting point of the MSRP, the Pilot EX-L is not overpriced. I would also point out that its owner satisfaction ratings are the equal to the above, plus it runs on regular gas.
I see where you're coming from, iamknott. I probably was a little harsh . My problem with the Pilot is that I would probably be in one right now if Honda had an attractive lease payment on it. The payments that are available on it are way out of whack. Take a look at the current advertised payments for the models that we have mentioned:
$409/36 mo. w/ $2,995 down for a 2009 Pilot 2WD EX-L $349/36 mo. w/$3,690 down for a 2008 4Runner SR5 V6 2WD $289/36 mo. w/$2,710 down for a 2008 4Runner SR5 V6 2WD $599/33 mo. w/$3,050 down for a 2009 ML350 AWD
I realize that the Pilot is newer and bigger than the 4Runner and Highlander, but for the difference in payment for me going with one of the Toyotas is a no-brainer.
Granted I got a better deal than most people probably will, but I'm leasing an ML350 for $450/month with nothing down right now.
To me, the Pilot lease payment is just not in line with what it should be right now. Perhaps Honda will ultimately be forced to improve it some. It was better back in August when Honda was advertising $299 per month for 42 months with $1,105 down.
Oh well. It's all about supply and demand. If Honda sells enough Pilots at this price point, good for them. If not, they will have to either cut production or increase their support.
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Would you mind psting the specifics of your deal? i.e. MSRP, Selling Price, Residual, Money Factor, Net Cap Cost, Fees. Thanks. You could pretty much post the line by line of your lease contract if you don't know the numbers off the top of your head.
That's the exact vehicle I'm looking for. Can you tell me what dealership you got that dfeal from and what the exact numbers are, if you don't mind? I'm also in the NYC area (Long Island). Thanks!
Leto, I would also like to see the cap cost i.e. selling price on your deal. Also, what fees were added in? What was the $1400 going towards? Thank you.
What I meant was, what is a good interest rate from Honda these days. I see lots of 0% financing available for purchases but, presumably 0% is not available on a lease and certainly not for an '09 Pilot.
Live in Michigan, and I got the following...thoughts are appreciated. I did not start to negotiate yet, this is their first offer, BUT they know me from before and usually give me good prices from the get-go...
2009 EX-L...nothing on it 2WD Price: $30212.58 Risidual: 17132 (50% it seems) MF: .0010 36/12K miles $673 total due at closing incl. 1st month Payment inclusive of taxes (6%): $458.00 I am told 4WD will end up same payment
The deal sounds pretty good compared to what I have seen. It would be very good, if you could get the same payment on the 4WD version (with no down payment, but including tax). Let us know how the final deal works out and the dealership name.
When you said that the price does not include an acquisition fee, do you mean that the lender (lessor) waived it?
No...did not waive it, It is included in the $458 payment. Cuz my calcualtions on the above mentioned selling price was $435 payment and not $458, so when I called to inquire, he explained to me the Acquisition fee...(the dealer is Fischer Honda, in Ypislanti, MI)
Now I just received a call from Howard Cooper Honda in Ann Arbor, MI, who historically have been very high and arrogant, and the offer just got even better:
2WD selling Price: $29395 Same MF and Residuals quoted by Fischer for a total payment of only $433.54 (OTD, incl, tax) with same out of pocket ($672)
Now for 4WD I can have the same payment ($433.54) but my total out of pocket goes up only by $150 or so to $827.. I am definitely leaning towards that now
I am now waiting for Fischer to see if he can match/beat that deal (they offer free oil change, while Howard Cooper does not)...
UPDATE:
Fischer matched the deal with a measly $77 discount on out of pocket, so what it looks like I will be getting:
4WD EX-L (12/36) $433.54/month includes tax and all $750 total due at signing Free Oil changes...
Comments
If it's an EX-L, that sounds more reasonable. And this 2K down, is this inclusive of everything---or will they then tag on tax, delivery, etc.?
and this is a ex no add'l fees or cost
I also went to 2 other dealers and they were well over 440 per month it seems like this one is the best deal.
Upfront fee upon signing, TT&L, aqui 595, 1st month payment.
5 EXL available: 298/mo, residula 51%
4 EXL nav w/res: 378/mo, residual 48%
here is the offer right on hondas site
http://automobiles.honda.com/current-offers.aspx?ModelName=Pilot
www.bochhonda.com > promotion > weekly
The 09 Pilot EX promotion is 298/mo FWD, ONLY 1 available for this week.
Monthly Promotion 42 mo lease
Pilot EX 4x4: 288/mo, EXL 4x4: 358/mo
There is a button on homepage that can have live chat with sales.
Unfortunately, the $2,000 dealer cash that was available on the 2009 Pilot in August is no longer available, but when it was available you should have used it to negotiate an extremely attractive selling price to base your truck's capitalized cost on.
Honda Finance charges a security deposit on all leases that is equivalent to their monthly payment rounded up to the nearest $25 increment.
If I was in the market for a 2009 Pilot right now, I personally would shoot for a selling price of a couple hundred dollars over invoice. You will be able to get additional feedback on how much you should pay for this truck right now by visiting the "Honda Pilot Prices Paid and Buying Experience" discussion.
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Are the residuals and money factor for a 36 mo 15k mile lease the same for a '09 Pilot Touring w/ RES? Does Honda currently have any dealer marketing incentives in play for this month? I have just started my search and have received 10 email quotes in the SFBay area. The quotes range from $39,665 to $36,500 on a MSRP of $40,665. Most quotes are within a few hundred dollars of the invoice price of $35,425, one is less than the invoice price. Does anybody know if a Touring 4/WD w/RES with Black Exterior / Black Interior is in limited production and difficult to find? Thanks in advance for your input.
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I, ideally, am looking for 36 mo/ 12K.
I am qualified for "Super Preffered" rate and willing to pay upfront 1mo+deposit+MV fee + bank fee.
Looks like my monthly payment (based upon September, 2008) would be in low $500.
Are there any pleasant news from Honda for october, 2008 lease deals?
Money factor/incentives... anything?
Thanks!
I'm in the same boat. In view of the fact that Honda's sales were down 20+% in Sept., you'd think they would be more aggressive, although I haven't seen any specific sales figures for the Pilot. I hope to go talk to my dealer again this weekend and I will report what he says. When we first talked in July-August, our salesman advised us to extend our current lease for six months and to wait for some incentives, which we did. I noticed that he had a multi-page printout on his desk of all the dealership's customers who had maturing leases, including model and current lease payment. You'd think that, if he had some good lease incentives to offer, he'd be working that list hard.
$1200 out-of-pocket (including 1 st month)
$ 450 / month for 36 mo/ 12K
I am in NYC area.
feel free to comment
That doesn't sound like a bad deal. It is better than what I am seeing from one dealer here in Central Ohio.
I spoke with dealer today. He said AHF money rate (Super Preferred) is down to .00147, but the residual is also down slightly to 52%. He didn't tell me the price, but said with zero down, 12,000 miles, 36 mos., the payment would be $552/mo. (which I assume does not include tax). Still too rich for me. I need to test drive the Veracruz and see what kind of deal Hyundai will make.
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I'm almost positive they will lose more money if we turn it in on time then if they give us the above adjustment, but we're terrible negotiators and would really, really appreciate any input/info/advice! Thanks!
I need a different vehicle by April, and I like this vehicle, but don't have to replace it until April if it's better to wait. With the economy and all, I would prefer not to part with $3,600 now or add $60 to my monthly payment, but I have no doubt it's worth the extra money over the Vue. If the deal is worth it, than I'll do it now. Otherwise I can walk away. Hopefully I've given you enough information to tell me if this is a good deal. I'm in Washington State.
Fred
However, if your gut feeling says that you might be able to go a bit lower - just wait they will contact you again.
Thanks for any help!
Without all the numbers, it is difficult to comment on your deal. I don't know anything about NY taxes on leases, but the number you quote ($2600) for "tax, title, DMV fees, etc." seems pretty high to me. Wouldn't the tax be included in each month's payment and not paid up front? I suspect that the dealer has included a downpayment in that $2600. I am hoping that slowing sales will lead to some better lease incentives from Honda's finance company in the near future.
I am going to be in the market to lease a new SUV early next year and unless Honda makes some significant improvement to its lease program for the Pilot, I will likely find myself in a Toyota 4Runner or Highlander.
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Mercedes ML350: $48,695
Acura MDX: $41,550
Toyota 4 Runner: $40,654
Toyota Highlander: $38,590
I don't know what kind of lease deals these brands are offering, but at least from the starting point of the MSRP, the Pilot EX-L is not overpriced. I would also point out that its owner satisfaction ratings are the equal to the above, plus it runs on regular gas.
$409/36 mo. w/ $2,995 down for a 2009 Pilot 2WD EX-L
$349/36 mo. w/$3,690 down for a 2008 4Runner SR5 V6 2WD
$289/36 mo. w/$2,710 down for a 2008 4Runner SR5 V6 2WD
$599/33 mo. w/$3,050 down for a 2009 ML350 AWD
I realize that the Pilot is newer and bigger than the 4Runner and Highlander, but for the difference in payment for me going with one of the Toyotas is a no-brainer.
Granted I got a better deal than most people probably will, but I'm leasing an ML350 for $450/month with nothing down right now.
To me, the Pilot lease payment is just not in line with what it should be right now. Perhaps Honda will ultimately be forced to improve it some. It was better back in August when Honda was advertising $299 per month for 42 months with $1,105 down.
Oh well. It's all about supply and demand. If Honda sells enough Pilots at this price point, good for them. If not, they will have to either cut production or increase their support.
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just wanted to share:
I have just leased EXL-4WD (no RES) in NYC area:
36 Mo / 12K per year / $1400 upfront (inclusive all fee and taxes) / $450 a month.
Great car and -IMO- good deal.
Cheers.
Would you mind psting the specifics of your deal? i.e. MSRP, Selling Price, Residual, Money Factor, Net Cap Cost, Fees. Thanks. You could pretty much post the line by line of your lease contract if you don't know the numbers off the top of your head.
That's the exact vehicle I'm looking for. Can you tell me what dealership you got that dfeal from and what the exact numbers are, if you don't mind? I'm also in the NYC area (Long Island). Thanks!
My numbers might be off few back on upfront payment (Bank fee / Tax / MV fee / Doc fee).
Good luck.
A couple people wanted you to post your numbers from your lease paperwork. I also would like to see the exact numbers. Thanks.
Can you share some information that helped you get such a good deal? How did you negotiate the price, etc to get such a good deal.
From what I understand the negotiable variables are:
Price
Term
Interest Rate
Most times the interest rate is fixed by Honda Finance and tied to a 60 month rate, which seems to be pretty high now (6%+).
Thanks!
For example, if the money factor is 0.00209, your interest rate will be 5.016%.
2009 EX-L...nothing on it
2WD
Price: $30212.58
Risidual: 17132 (50% it seems)
MF: .0010
36/12K miles
$673 total due at closing incl. 1st month
Payment inclusive of taxes (6%): $458.00 I am told 4WD will end up same payment
Thoughts will be appreciated...
The deal sounds pretty good compared to what I have seen. It would be very good, if you could get the same payment on the 4WD version (with no down payment, but including tax). Let us know how the final deal works out and the dealership name.
When you said that the price does not include an acquisition fee, do you mean that the lender (lessor) waived it?
Now I just received a call from Howard Cooper Honda in Ann Arbor, MI, who historically have been very high and arrogant, and the offer just got even better:
2WD selling Price: $29395
Same MF and Residuals quoted by Fischer for a total payment of only $433.54 (OTD, incl, tax) with same out of pocket ($672)
Now for 4WD I can have the same payment ($433.54) but my total out of pocket goes up only by $150 or so to $827.. I am definitely leaning towards that now
I am now waiting for Fischer to see if he can match/beat that deal (they offer free oil change, while Howard Cooper does not)...
UPDATE:
Fischer matched the deal with a measly $77 discount on out of pocket, so what it looks like I will be getting:
4WD EX-L (12/36)
$433.54/month includes tax and all
$750 total due at signing
Free Oil changes...
I think I should be pretty happy with the above
Any other insights will be appreciated...