Hi rainee. The dealer invoice price of a 2009 Honda Pilot EX-L 4WD is $32,533. If one subtracts the $1,250 dealer cash that Honda is providing on leases of this truck from that the invoice price falls to $31,283. The selling price that you were quoted is even lower than that, meaning that this is a vary good deal.
Not only are you getting a great selling price on this truck, but the dealer is using Honda Finance's current buy rate of .00110 to calculate your monthly payment. If you like the Pilot, I personally don't see any reason not to pull the trigger on this deal. This is about as good as it is going to get.
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Hi familyman2. If I was interested in leasing a 2009 Honda Pilot right now, I personally would shoot for a selling price of around dealer invoice minus the $1,250 cash incentive that Honda is currently providing on it.
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Hey gperr. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Pilot EX AWD with 15,000 miles per year are .00110 and 52%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The residual value for a lease with only 12,000 miles per year is 2% higher.
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Hi sjtash. No, the Federal Funds rate has no direct impact upon the interest rates that automakers' captive finance companies charge on loans and leases.
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Hi jimmy411. The dealer invoice price of a 2009 Honda Pilot Touring 2WD with the entertainment system is $35,425. If one subtracts the available $1,250 dealer cash from that it drops to $34,175. The selling price that you were quoted is very close to that, so it is a very good deal. The money factor that you were quoted is right in line with Honda Finance's current buy rate for this truck as well.
If you like the truck, I personally don't see any reason not to pull the trigger on this deal. The only thing that I personally would change would be to eliminate the $681 capitalized cost reduction. I always advise consumers against making down payments on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.
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Hi Car_Man! Could you please post the residual value on a 2009 Honda Pilot Touring AWD w/RES and one without RES? This would be for a 36 month lease and 15k miles per year. Thanks!
We are looking to lease a Pilot EX and have been offered this deal:
2009 Pilot EX 4WD
MSRP $32,665 Selling price $27,906 12K 36 month lease $800 total due at signing $366 a month including taxes (taxes are 5%, so the payment is about $348? without taxes) OR $385 for a 15K 36 month lease with taxes
Hi! I have a dealer that is able to get me a Pilot LX. He said the sticker is $29,865 and with incentives, rebates, etc he got it down to $23,373. I can get the promo lease of $299/mo (he said maybe a bit lower since the price is lower now) and I would need $2999 down (from my trade I hope). This would be a 36 mo lease with a 54% res. value. Is this a deal I should consider? He told me that they are being very aggressive with trade values and prices b/c they need to move some cars in the next week. True or not, this $23K price is the lowest I have gotten quoted at. Any thoughts?
The residual value is going to be $16,127. My 36 pmts of $299 would be a total of $10,764.
My advice would not to put down the $3,000 and take a higher monthly payment. There are many reasons to not do this, and one being in the event of a theft, car totaled there is no option for you to recover that huge down stroke.
There is very little reasons to ever put anything more than the security deposit down on a lease.
Don't get confused. Scroll through the last 30 days of posts and see what others have paid for your car set up.
Then go over to Edmunds TMV section and plug in your info to see MSRP, Invoice and TMV. Compare your quotes to those numbers and see how you feel.
Lastly, shoot an email to other local honda dealers, tell them you are ready to pull the trigger and to give you their rock bottom price if you come and sign in today. If any of them beat it by more than $500 go back to your dealer and tell him to sharpen the pencil!!!
I have what most will think is a silly question - If I get the dealer to lower the price they are giving me on the Pilot... what does that do for my lease payments? For example, the MSRP is $29K and they gt down to $23K. How would that change my payments on a lease? I have read several posts where people say to get the lowest price you can even on a lease.
I've found these forums helpful in researching my lease, so I'll post my results to help others get the best deal they can.
$247 per month (incl. tax @ 7.75%) $2688 down (incl. dmv, title, 1st payment & doc fee) $28265 MSRP (final gross cap cost is $23011) $21016 cap cost (after reductions) 50% residual value ($14132) .00110 money factor 36 months 12k miles / year
Let me know if this was a good deal or not, in So. California, or otherwise. I think the residual value is a little high, but the other details look good. How'd I do???
When you lease a vehicle, you are financing the difference between the sales price and the residual value. The residual value is fixed by the lessor, therefore you would want to negotiate the lowest sales price possible in order to decrease the amount financed. Of course, the dealer would prefer that you reduce the amount financed by making a down payment ("capital cost reduction").
Simply stated, your monthly lease payment is the amount financed plus interest, divided by the number of months in the lease.
I just spoke to a Long Island Honda dealer who told me the dealer cash and low interest rates are expiring today 1/5 and will not continue on. Dealer cash will be reduced to 0 and interest rates will no longer be at 2.64% since Honda is doing away with its low interest financing.
Anyone else heard this, or is the salesman trying to pressure me into something?
He is correct that the current lease factors ends on 1/5. As far as the other stuff its all smoke.
I thought I read that new rates/financing will be released on 1/7. It is a true dice roll on whether this promotion will be any better than what is current.
Honda's December sales and annual sales results were announced today.
'Honda Division's 2008 annual sales of 1,284,261 decreased 6.7 percent compared to 2007. Honda Division's December monthly sales of 75,405 represent a decrease of 34.0 percent compared to 2007. Annual total car sales of 794,421 for the Honda Division increased 1.0 percent and set a record for the fourth consecutive year. The division's truck sales decreased by 16.9 percent to 489,840." [The numbers for American Honda Motor Co. are worse because they include the Acura Division.]
Results for the Pilot: down 35.3% in Dec. 08 vs Dec. 07 and down 17.7% 2008 vs 2007 on annual basis.
Therefore, I expect them to continue some kind of incentive program and probably (hopefully) increase it.
I received an e-mail from a dealer on Long Island indicating the new MF rate of .001510 up from .001100 and a residual of 50% down from 51% on the 2009 Pilot EXL 4wd.
I thought the residual was 49% so this seems suspect. There was no mention of dealer cash.
My dealer just told me that the residual is 54% for the EX and 52% for the LX. He said that there are no financing deals right now just some lease ones. I looked on Honda's site and there is nothing at all so I am going to wait a couple of days in hopes that they come out with something better.
Currently is the interchange period, the old one expired 1/5 and the new one not yet posted. It will 1 to 2 days to have the new offers to be out. Possible in 1/7 we will see new offers.
Hi rjohnson1987. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Pilot Touring AWD with 15,000 miles per year are .00151 and 47%, respectively for consumers who qualify for its "Super Preferred" credit tier. The money factor for an otherwise identical lease for a Pilot Touring AWD with RES is the same, but its residual value is one percent lower at 46%.
When negotiating your lease on this truck, make sure to take the $1,500 dealer cash that Honda is currently providing on it into account. It should help you to negotiate a capitalized cost that's well below dealer invoice.
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Hi sjtash. Honda Finance's new January buy rate lease money factor and residual value for a 36 month lease of a 2009 Honda Pilot EX-L 4WD with 15,000 miles per year are .00151 and 48%, respectively for consumers who qualify for its "Super Preferred" credit tier. The residual value for a lease with only 12,000 miles per year is 2% higher.
When negotiating your lease on this truck, make sure to take the $1,500 dealer cash incentive that is currently available on it into account. It should help you to negotiate a selling price that's well below dealer invoice.
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I am going to a local dealer tomorrow to sign papers for an 09 Pilot 4X4 EX lease. $298/mo + taxes with only $690 down (doc fees, 1st month, plates). 54% residual. 12K/yr 36 months. My credit score is 10 points lower than they want for this payment. Has anyone ever had them bend a little for something like this? This is the best deal I have gotten offered so far.
Where did you get this deal? This sounds great. Today I was offered an LX with $500 down for $375 a month. And an EX with $500 down for $420. Both are an all-in price.
This was one of those advertised specials. Believe it or not I am holding out a bit... but there was a lady who was very happy to take it right after. I wanted a few more accessories.
Boch Honda had the same add..Called the dealership and the real deal is 368.00 per month for the EX 4x4. Run the numbers...Boch is posting their own reply's to this forum.
Boch usually has those ads... I have also seen them from Bernardi for the EX at the same price per month but more cash down. I would rather not mention the dealer I went to, but I am sure that they are trying to stay in competition with these above mentioned dealers. The point to remember is what you said... the numbers don't add up... unless you get one of the two they have available for that special. They lose thousands on those two giving them at that low of a price but the hundred people that come in afterwards looking for the same deal pay the higher price. It is a tactic for getting more business through the door.
I think I saw that Boch monthly promotion is for EVERY EX 4x4 in stock and good for the month. Better no trade due Boch always lowballs your trade at least $2k less than KBB's trade-in. Herb Chambers gives better reasonable trade-in dollars very close to KBB's.
Boch has a banner ad saying 140% of KBB for your trade but restrictions make it useless, cannot combine with any other offers. Plus when the special calls for $0 cash ot trade, that means the special is good for NO TRADE-IN, thus prepare to sell the old car yourself if want to make a deal in specials with Boch.
Very true about Boch. They have been calling me over and over regarding how they can make a sale with me. Basically, I told them, give me a realistic trade and my payments would be where I want them. When I went to see them recently they told me that they only and always give "fair" KBB for a trade. That is crazy! My car is worth far more than that so now I am forced to sell it myself. I have to get it all cleaned inside and get it on the market - then I will have some cash in hand to talk numbers with. Does Boch give the best deal overall?
The Boch add is not for every EX 4x4. Due to last months resid. and MF, a lease of $349 with $700 at closing was realistic (at a sharp sales discount and 5% sales tax). This month..due to the higer MF, payment will be approximately $18/mo. more. Has anyone out there been able to get a $27,000 sales price on the 09, EX, 4x4...(includes $1500 market support..does not include TTL)? Bottom line is the marketing support increased by $250.00 but the MF/interest rate also increased. No deal here unless someone out there can negotiate a $27,000 or less sales price.
The Ad is kind of misleading ... good til end of Jan www.bochhonda.com > promotion > monthly
The heading said EVERY EX and then at bottom it shows 5 STOCK #. I really don't know what that means.
Lease for only $348/month Pilot EX 4X4, with MSRP of $32,630. Lease requires approved credit; based on 12,000 miles/year, .20/mile excess Lease based on ZERO cash or trade down. Security deposit waived. $348x39, 51% res. Price excludes taxes, documentation title and registration fee; prices include all customer rebates, promotions and incentives to dealer. Lease #155676
My 06 pilot lease is up and I want a new one. My dealer said it will be 299 per month plus 2999 down plus tags for a 2wd lx b/c this is what honda is now offering. Is this true or can I do better. They also said they can roll thee 2999 into the monthly payment. The lease is for 39 mo.
Thank you CarMan!! I did purchase & love my new Pilot...I test drove everything else in the same class & the Pilot blew everything away. Especially with the rebate, I'm very happy with the deal that I got.
Sorry to be a pest, but another salesman gave me some information and either I am confused or the sales guy is. As far as lease info on a 2009 Pilot EX-L (no res/no nav) 36month/15K miles:
Money factor .00151 Residual - 49% (When I said 48% - his comment was that was for vehicles with res/nav)?
Finally, is the dealer cash of $1,500 through 2/2 or 3/2?
Thanks car man, I do appreciate your time and energy you devote to this board, and if you can send me an email I would like to extend my appreciation.
Please check out my post above. Buying and leasing about same - find the lowest price first then figure out the lease + interest + tax per month. In leasing - best is no money down, that you don't lose much if the car is totaled in accident.
Interesting situation that I thought I would share with the group. I just got off the phone with AHFC since my 2006 Pilot is coming off lease next month.
I was amazed at the extension of the lease option. I can extend up to 24 months, at the same rate AND I could opt out at anytime. The way it was explained to me is that I can say, yes I want to extend for 6 months, then after two months I can say I am out - and pay no penalty. Or after 6 months i can "extend" one more time for any period of time. The maximum of the extension being 24 months.
The pressure to find a new vehicle has been lifted. I was worried that the dealer could paint me into a box knowing my lease was about to end..but now with this I have some freedom.
If it sounds too good to be true..... If you extend the lease, at what point does the additional sales tax kick in...ie: 120 or 150 days? Also, the vehicle will need to be re-inspected after a certain amount of time and your vehicle is out of warranty. AHFC does allow you to extend "one more time".
Good point on the sales tax. However, I am in IL and we are one of the two lucky states were we get taxed on the full selling price of the vehicle on a lease.
That right, lease a vehicle for 30K - pay sales tax on the 30K, then 3 years later if you buy it out at 20K - guess what, sales tax on the 20K.
Yeah, speaking of the inspection people - I just called and cant get it looked at for 35 days. Nice.
As dumb as this may sound, I have been viewing this new lease as a "trade-in" it has giving me some perspective that it is not. The lease of the new vehicle is pretty independent of the expiration of the other.
I can confirm the extension lease offer. 24 months with cancelling it at anytime with out advanced notice. The only requirement is the inspection and that the turn in be prior to the next payment. In regards to taxes the Honda FAQ states the following:
Extensions Are there any additional fees if I extend my lease? Yes, based on the length of extension and the vehicle is registered. The following states are required to pay non-refundable upfront sales tax IA, ME, NJ, NY, ND, OH, SD, VT.
For a leasing question:
Dealer offered a 2009 Honda Pilot 4x4 EX-L 39 months, 12K miles, $1,000 down for $415/mo. I don't know the money factor or the cap cost reduction. Sound like a good deal or based on others experience do you think they can go down further? Thanks for the advice.
Comments
Not only are you getting a great selling price on this truck, but the dealer is using Honda Finance's current buy rate of .00110 to calculate your monthly payment. If you like the Pilot, I personally don't see any reason not to pull the trigger on this deal. This is about as good as it is going to get.
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If you like the truck, I personally don't see any reason not to pull the trigger on this deal. The only thing that I personally would change would be to eliminate the $681 capitalized cost reduction. I always advise consumers against making down payments on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.
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2009 Pilot EX 4WD
MSRP $32,665
Selling price $27,906
12K 36 month lease
$800 total due at signing
$366 a month including taxes (taxes are 5%, so the payment is about $348? without taxes)
OR $385 for a 15K 36 month lease with taxes
What do you think? Thank you!
The residual value is going to be $16,127. My 36 pmts of $299 would be a total of $10,764.
There is very little reasons to ever put anything more than the security deposit down on a lease.
MSRP $29865
Selling Price $23273
Res. Value 54%
I am so confused and worried about being taken advantage of
Then go over to Edmunds TMV section and plug in your info to see MSRP, Invoice and TMV. Compare your quotes to those numbers and see how you feel.
Lastly, shoot an email to other local honda dealers, tell them you are ready to pull the trigger and to give you their rock bottom price if you come and sign in today. If any of them beat it by more than $500 go back to your dealer and tell him to sharpen the pencil!!!
$247 per month (incl. tax @ 7.75%)
$2688 down (incl. dmv, title, 1st payment & doc fee)
$28265 MSRP (final gross cap cost is $23011)
$21016 cap cost (after reductions)
50% residual value ($14132)
.00110 money factor
36 months
12k miles / year
Let me know if this was a good deal or not, in So. California, or otherwise. I think the residual value is a little high, but the other details look good. How'd I do???
When you lease a vehicle, you are financing the difference between the sales price and the residual value. The residual value is fixed by the lessor, therefore you would want to negotiate the lowest sales price possible in order to decrease the amount financed. Of course, the dealer would prefer that you reduce the amount financed by making a down payment ("capital cost reduction").
Simply stated, your monthly lease payment is the amount financed plus interest, divided by the number of months in the lease.
Anyone else heard this, or is the salesman trying to pressure me into something?
I thought I read that new rates/financing will be released on 1/7. It is a true dice roll on whether this promotion will be any better than what is current.
'Honda Division's 2008 annual sales of 1,284,261 decreased 6.7 percent compared to 2007. Honda Division's December monthly sales of 75,405 represent a decrease of 34.0 percent compared to 2007. Annual total car sales of 794,421 for the Honda Division increased 1.0 percent and set a record for the fourth consecutive year. The division's truck sales decreased by 16.9 percent to 489,840." [The numbers for American Honda Motor Co. are worse because they include the Acura Division.]
Results for the Pilot: down 35.3% in Dec. 08 vs Dec. 07 and down 17.7% 2008 vs 2007 on annual basis.
Therefore, I expect them to continue some kind of incentive program and probably (hopefully) increase it.
I thought the residual was 49% so this seems suspect. There was no mention of dealer cash.
Anyone heard anything different?
When negotiating your lease on this truck, make sure to take the $1,500 dealer cash that Honda is currently providing on it into account. It should help you to negotiate a capitalized cost that's well below dealer invoice.
Car_man
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When negotiating your lease on this truck, make sure to take the $1,500 dealer cash incentive that is currently available on it into account. It should help you to negotiate a selling price that's well below dealer invoice.
Car_man
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Boch has a banner ad saying 140% of KBB for your trade but restrictions make it useless,
cannot combine with any other offers. Plus when the special calls for $0 cash ot trade, that means the special is good for NO TRADE-IN, thus prepare to sell the old car yourself if want to make a deal in specials with Boch.
www.bochhonda.com > promotion > monthly
The heading said EVERY EX and then at bottom it shows 5 STOCK #. I really don't know what that means.
Lease for only $348/month Pilot EX 4X4, with MSRP of $32,630. Lease requires approved credit; based on 12,000 miles/year, .20/mile excess Lease based on ZERO cash or trade down.
Security deposit waived. $348x39, 51% res. Price excludes taxes, documentation title and registration fee; prices include all customer rebates, promotions and incentives to dealer. Lease #155676
Stock #: 60044, 60045, 60048, 60053, 60056
http://automobiles.honda.com/current-offers.aspx
I am looking for an 2009 EX-L, does anyone having any recent quotes for this vehicle in the Chicago market???
Thanks all..
I did purchase & love my new Pilot...I test drove everything else in the same class & the Pilot blew everything away. Especially with the rebate, I'm very happy with the deal that I got.
Thanks again, Rainee
Sorry to be a pest, but another salesman gave me some information and either I am confused or the sales guy is. As far as lease info on a 2009 Pilot EX-L (no res/no nav) 36month/15K miles:
Money factor .00151
Residual - 49% (When I said 48% - his comment was that was for vehicles with res/nav)?
Finally, is the dealer cash of $1,500 through 2/2 or 3/2?
Thanks car man, I do appreciate your time and energy you devote to this board, and if you can send me an email I would like to extend my appreciation.
Regards-
Golic.
Please check out my post above. Buying and leasing about same - find the lowest price first then figure out the lease + interest + tax per month. In leasing - best is no money down, that you don't lose much if the car is totaled in accident.
I was amazed at the extension of the lease option. I can extend up to 24 months, at the same rate AND I could opt out at anytime. The way it was explained to me is that I can say, yes I want to extend for 6 months, then after two months I can say I am out - and pay no penalty. Or after 6 months i can "extend" one more time for any period of time. The maximum of the extension being 24 months.
The pressure to find a new vehicle has been lifted. I was worried that the dealer could paint me into a box knowing my lease was about to end..but now with this I have some freedom.
If you extend the lease, at what point does the additional sales tax kick in...ie: 120 or 150 days? Also, the vehicle will need to be re-inspected after a certain amount of time and your vehicle is out of warranty. AHFC does allow you to extend "one more time".
That right, lease a vehicle for 30K - pay sales tax on the 30K, then 3 years later if you buy it out at 20K - guess what, sales tax on the 20K.
Yeah, speaking of the inspection people - I just called and cant get it looked at for 35 days. Nice.
As dumb as this may sound, I have been viewing this new lease as a "trade-in" it has giving me some perspective that it is not. The lease of the new vehicle is pretty independent of the expiration of the other.
Extensions
Are there any additional fees if I extend my lease?
Yes, based on the length of extension and the vehicle is registered. The following states are required to pay non-refundable upfront sales tax IA, ME, NJ, NY, ND, OH, SD, VT.
For a leasing question:
Dealer offered a 2009 Honda Pilot 4x4 EX-L 39 months, 12K miles, $1,000 down for $415/mo. I don't know the money factor or the cap cost reduction. Sound like a good deal or based on others experience do you think they can go down further? Thanks for the advice.