Honda Pilot Lease Questions

CarMan@Edmunds

You're right about that, jayrider. Honda's lease program on the Pilot is surprisingly bad right now.

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CarMan@Edmunds

Hey hooops. Here's the info that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot EX-L 4WD with navigation and 15,000 miles per year are .00285 and 52%, respectively.

Car_man
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CarMan@Edmunds

A ha, I just saw your additional request. Honda Finance's numbers for a 24 month lease of a '10 Pilot LX 4WD with 15,000 miles per year are .00285 and 61%. The 36 month numbers for this truck are .00285 and 54%.

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hooops

Hi Car_man,

Thanks again for providing the numbers.

2 follow up questions that maybe you'll have some insight on. Since we're almost into September, have you by any chance seen the lease numbers for the Pilot or have an idea if they'll (money factor) improve next month?

Do you think Mazda will extend the $2k lease cash next month and provide similar lease numbers in September for the CX-9 touring?

I'm trying to determine if I should wait to see what will happen with Pilot or if I should consider pulling the trigger on a CX-9 this month. I have another month before I have to return my current pilot.

Thank you for all the great information you provide

hooops

Hi Car_man,

Can you please provide the September residual and interest rate on 24 and 36 month leases with 15k miles/year for both a 4WD LX and 4WD EX-L Pilots.

Thanks

CarMan@Edmunds

Hey hooops. Honda's August lease program is scheduled to run through September 8th. It is difficult to say what its new Sept. program will be like when it is introduced. Please feel free to check back with me after its official release and I'll be happy to fill you in on the details.

I believe that Mazda has basically the same thing going on with its lease program.

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CarMan@Edmunds

Hey hooops. Please see my previous post. Thanks.

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rallystar1

Its Sep 9th and there are no new Lease deals. Do you know if Honda will come out with a lease on the Pilots? I am on my final extn of lease waiting for better lease on Pilot. If they don't come up with anything good what other 7/8 seater SUV do you reccomend that is comparable to the Pilot.

Thanks

bigdadi118

You may check out the optional 3rd row seats on Subaru Tribeca

http://www.cars.com/go/crp/research.jsp?revid=53796&indcriteria=ASSET_TYPE-Affil- iate+Review%2cBuying+Guide%2cVehicle+Profile|M-_45_|D-_8891_|Y-_2009_|resultStru- cture-combined&makeid=45&modelid=8891&year=2009&myid=&revlogtype=19&section=revi- ews&mode=&aff=national

CarMan@Edmunds

Hi rallystar1. For some reason, Honda has decided that it just doesn't want to lease the Pilot. Its current lease program is scheduled to run through November 2nd. It is difficult to say whether Honda will launch lease support on the 2010 Pilot for November at this point, but I certainly wouldn't bet on it.

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rwright1977

Car_Man - I have appreciated your help in the past in negotiating leases on a few BMW 3 - series. We are looking to replace another car and are considering the Honda Pilot. The leasing offers, as others have noted, seem quite unattractive at this point, but can you post MF's and Residuals for the following

2009 Pilot 4WD Touring with Nav (no RES) - 12K/year for 36 months
2010 Pilot 4WD Touring with Nav (no RES) - 12K/year for 36 months

I have not noted any incentives or "lease cash" from honda finance on these vehicles, either. Did I miss it?

tex18

Car-man, why do think Honda has taken this route? So are you saying there are no Honda Pilot lease deals till after Nov. 2?

CarMan@Edmunds

Welcome back rwright1977. You can include the Pilot in the list of vehicles that have unattractive lease program available on them right now.

Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot Touring 4WD without the Entertainment System with Navigation and 12,000 miles per year are .00285 and 49%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The numbers for an otherwise identical lease of an '09 model are .00285 and 42%.

Honda is not currently providing any cash incentives on the 2010 Pilot, but it does have $1,250 on the '09 model that is compatible with the above lease program.

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CarMan@Edmunds

Hey tex18. It's difficult to say. I was somewhat surprised when Honda pulled the plug on its lease support for Pilots several months ago. It has stuck to its guns and not brought it back. I'm sure that it has something to do with its production of this truck. I haven't looked at the numbers, but I suspect that Honda slashed its production of Pilots to a level that is more in line with its natural demand without incentives.

I've always liked the Pilot, though not as much since its latest redesign (it's a little to big and funky on the inside for my taste), but I would never ever consider getting one over a similar truck that had a much higher level of support available on it.

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rwright1977

Thanks, again, Car_Man.

Given this information I think we are going to look elsewhere....perhaps an MDX or even the Highlander. Given the full capitalization of sales tax in Illinois, a lease payment in the $750/month range makes absolutely no sense to me for a Pilot. Thanks.

CarMan@Edmunds

No problem rwright1977. HA, $750 per month for a Honda Pilot is absolutely nuts.

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rallystar1

After extending the lease on my 2006 Pilot twice in hopes that Honda will come out with a good program; I finally gave up and looked elsewhere. i loved the Pilot and wanted to get another one but like carman has said the money factor and lack of support made it an impossible to lease it at a sane price. I shopped around and saw the Highlander, Various GMC trucks, jeep, Pathfinder and Mazda CX9.
the best value in terms of price, support and build quality was the CX9. Mazda is giving a great factor 0.00059 and good support. I was able to get a loaded car for far less than what you would pay for a base LX Pilot. Mazda is blowing out the 2009 models. You need to check out the CX-9.

AXM23

Did you lease or buy your CX-9? And was it the GT? If you got a great deal please post the numbers.

Thanks

rallystar1

I leased the vehicle. It was the Touring, not GT. The MSRP was $33865. After Mazda lease cash back and nego with the dealer; the final cost was $27000 & change. I put down $3000 and with the money factor .00059 the monthly comes to $368 & change. The car is loaded and is AWD. The AWD models have a better residual set than the FWD so eventhough the price on the FWD is lesser the lease works better on the AWD. If you are looking to buy; you will get a even better price as Mazda is offering nice cash back. The price the dealer gave with out any nego on the purchase of Touring AWD was $24000 & change. You can easily shave off another $1000 off that.

jet757f

I have a 2005 Honda Pilot EX that I leased at the end of 2004 for 30 months.
At the end of the lease I extended it for another 2 years which actually goes month by month. I am having financial case flow problems where the lease payment of $360.00 per month is difficult to pay. Im thinking of turning in the Pilot to the Honda dealer and ending the lease.
I have some questions concerns so that I dont get blindsighted with extra charges.
1. First problem is that Im over around 20,000 miles. I know they will charge me for this.
2. I installed an aftermarket DVD/Nav system. SHould I pull this out and install the stock system? Also there is an overhead screen that might leave marks if I take it down........should I leave it?
3. Small crack in the windshield.........should I get one of those windshield repair companies to fix it?
Not sure if the damage deductible will cover any of this.

Also just wondering if I bought a lesser price used car from them if they would be able to absorb some of the possible charges into the sale of a used car?

I would appreciate any help or advice on this. I have never had to turn in a lease car before so not sure what to expect.

Thanks

rallystar1

1. You will get charged, I think @ 0.20/mile. The mileage is prorated for your extension. You can negotiate a bit on the final price they give you. I have done it and got it reduced by $200.
2. Remove the after market DVD/screen. The car should be in OEM condition. Honda will charge you for removing the DVD and restoring it to original condition.Small scuffs and marks are OK.
3. If the crack is too small leave it. Get the inspection done and then see how much the total comes up to. Honda gives you up to $1500 towards wear and tear, so if the total minor repairs total to less than 1500 you dont have to pay anything.

see the buy out on the Pilot, it might be cheaper to just buy it out. If not anything could be worked out with a dealer He will just rool over what you own on this car for mileage on to the used car loan.

Best of luck.

jet757f

Thanks for the info.

My big concern with the overhead screen is that there may be holes where they mounted it. Not sure if some plastic plugs will cover them.

tex18

Honda present deals on the 09 Pilots end today or tomorrow, and I had a sales rep tell me his district manager stated do not expect any lease deals till November. Well November here and no deals..............not a good sign,

jet757f

Ok I need some more advice on this lease return before I take it back to the dealer.

I did look under the overhead screen and there are mount holes and a square cutout for the wires into the headliner. So Im planning on just leaving the overhead screen there when I return it to the dealer. I dont think that I have a choice.

Anyone have any ideas on how they will handle this?

jayrider

They might not notice it if folded up. Just leave it -- can't figure they would charge you to remove it. Makes more sense to leave it in place. Affects nothing in the truck. Let us know what happens.

jet757f

Just wondering if anyone has had any experience with the Honda lease return inspection company called SGS. I think it stands for Society General Services.

I just found out that they do the inspection.

I went to the Honda dealer where this will be returned and the Sales Manager seemed to indicate to me that if I left upgrade equipment that it will not be a problem. As he mentioned the inspection company has no idea which equipment was on the Pilot when I leased it. So I guess I will leave the overhead screen and see what happens.

CarMan@Edmunds

Hi tex18. Honda did actually finally introduce lease support on the 2010 Pilot in November. While its special .00197 money factor for this truck isn't going to knock your socks off, it's better than the .00270 that was available on it in October.

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CarMan@Edmunds

Hi jet757f. I personally would leave the screen in if I was in your position. Taking it out and leaving holes in the ceiling would be worse.

I have leased several Hondas in the past, and I have always found the independent inspectors that Honda Finance uses to be very fair in evaluating the condition of my vehicle. I haven't had to pay a dime for excess wear and tear yet.

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ccnj1

I have been trying to get a good price from a dealership I have been with since 1990. They are telling me to come in tomorrow, but I need some realistic numbers ahead of time. I currently lease an Odyssey EX-L with RES from them. I have 43000 miles on it and it is due back to them in December. My payments are $369.42 a month. I took 15,000 miles a year. I have told the dealer that I won't put down $3000 since I have already done that for the Odyssey. I am also asking for payments better or the same as the Odyssey. Any chance????
Should I look in another state? My brother and sil lease an MDX for onky $280 a month in VT.

This is the current info from their site for my vehicle.

Current Payment: $369.42
Due: 11/27/2009
Total Amount Due: $369.30

Lease Term: 36


Payoff Calendar
You can determine payoff amounts for days other than today by using the payoff calendar. Maturity Date: 12/27/2009
Payoff Amount: $19,922.21
Good Through: Today



Thanks in advance,
Cathy

CarMan@Edmunds

Hi Cathy. Unfortunately, chances are that the Pilot that you are interested in leasing will cost you much more to lease today that it cost you to lease your Odyssey several years ago. Even with its new lease support, the Pilot just doesn't lease well.

If you tell me exactly what trim level you're interested in, how long you want to lease it for, and what mileage allowance you need I would be happy to work up a sample payment for you to give you an idea of what to expect.

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ccnj1

Thanks Catman:

I am looking for a basic model, cloth interior, LX no RES unless that is affordable. 15,000 miles 3 - 4 yrs.

Cathy

ccnj1

Oops I see I hit the t instead of r for carman! I think they are going to buy out my lease in order to make my downpayment lower, not sure if that will help.

Also can you recommend somethubg else that IS affordable with 4WD??

Cathy

ccnj1

Hi Carman:

I went to the dealer this morning, and they offered me the Pilot 4wd LX Model for $387 a month including tax. I will need to put down $2500 and out of that they will take my first month's payment. 36 mo. 15,000 miles a yr

I have $325 in Auto Reward Points.

Cathy

nick716

Hi. I am also looking to lease a new Honda Pilot but the EX model and not the LX. The best price I have been offered so far is $0 down, $525/mo for 36 mos @ 12k miles/year. This seems high to me. I'm not too familiar with the way lease rates are set but I have leased cars in the past with a higher list price('04 Acura TL), and was given a better deal than the current offer.

Any insight into whether this is a good deal or not is appreciated.

Thanks in advance, Nick.

dman72

In search for a 2010 4WD Pilot EX-L or Touring (without RES) I was told by a dealer in New England that the Taffeta White is rare and hard to come by. Obviously they didn't have the color and wanted to sell me the red model they had on the lot but the salesman went so far as to call 5-6 other dealers (while I watched) and came back with no results.

You've got to be kidding me right?!

I went online and confirmed there are over 25 EXACT Pilots in white, same trim levels we are looking at. He told me the dealers rarely update their internet pages and inventory. So basically I'm supposed to believe that all 25 of the white Pilots were sold and all 15+ dealers didn't update their sites. Come on now!

Regardless- looks like I am narrowing in on a favorable deal.
2010 4WD Touring with Nav (no RES) - $36K even
money factor .00197
trade in they are giving us over KBB value for excellent on a 2 year old Element.

still waiting on details about residual value and lease terms. We have another quote for a 51 month lease and dealer says they will match beat it and bump us down to 48 months for a lower pymt. Skeptical and also confused about them not wanting to get us a white model???

hjh22

Does anyone have current residual information for the Honda pilot for 36 months for both 12 and 15 miles/year?

I am looking at a 4wd ex-l with no RES.

Is the money factor .00197?

Thanks in advance!

djalbe

Well, here's what I can tell ya from a colleague at the Honda store.

2010 Pilot EX MSRP $33,055

Purchase price $29,759

MF .00197 Honda Super Preferred Credit

36mo/12k -yr (55% residual)

$1,000 out of pocket ........$460/mo w/ MA tax

So, unless Honda plans on coming out with dealer cash or other incentive money for December, OR, an even lower money factor, mid $400's is as good as it will get for an EX with short money out of pocket.

@ hjh22

EX-L is 53% residual

Oh, and the lease on that was $515/mo, same terms as my EX deal. $50/mo for the model bump seems too much for me.

@ dman72

2010 Pilot Touring w/ NAV MSRP $40,355

Your price is $36,000

Sounds like you gotcha self a pretty good purchase price. Not sure about the availability of Taffeta white but when I worked at Acura, we also offered the MDX in Taffeta, the often-referred-to-as "REFRIGERATOR WHITE". I wrote a deal with a customer on that very color only to have them ask me 2 days after delivery to exchange it for the Pearl White. They said they had made a mistake. They were really nice peeps so I got a favor done with another dealer, and 2 customer referrals in about 2 weeks for my trouble.

Just remember it's not a metallic paint (which I believe is available at NO-charge), and not the most desirable color when it comes to trade or resell; much like black can be. Just thought I'd point that out but I know some people are attracted to white, I gotta have white. They might not want to stretch to find ANY other color than what they have since they may be offering you a NOTHIN deal (damn near zero profit) at $4300 off. It does take time and cost money and effort to swap cars, do paperwork, cut checks, process titles, pay drivers, and cross your fingers the car comes in without damage. TRUST ME... I've had it happen several times. The ONLY car in the region in blue comes in with 2 nice stone chips on the hood and the customer's cryin about it. "OK, well this is the ONLY one, so wanna take the red or black one instead ?" It can turn into a cluster you know what for all parties and then everyone involved gets twisted over it. Unavoidable sometimes !

As for online availability, few dealer websites are 90% up to date but they don't do it manually. The websites pull it from their DMS accounting systems automatically, usually once per day. But the car they sell today may remain on there for another 2,3, even 7 days before it comes off. Depends on how quickly the back office COMPLETELY processes deals.

More info than you really need to know but there may be some legitimacy to their claim of calling around without any luck. Have you tried nailing down that exact car with much luck ? If you've confirmed it available somewhere, ask the other dealer to match the deal. I didn't pass up too many deals that I could write in 5 seconds. Also, I asked about a 48 month lease but there are NO SPECIAL lease MF at 48, and probably not 51 mo either. Please confirm that for yourself, however. If I recall correctly, 48 mo may have yielded a higher payment than the 36 mo.

OK... too much talkin. I'm done. Hope the info helps, let me know if I can answer any other questions.

-DJ

ccnj1

OK I am now the proud owner of a 2010 Mocha LX. I put 2500 down which includes my first payment. I had $320 in reward points from my dealer. I went up from 12,000 to 15,000 miles a year. Granted it is a base model, but I am paying $387.60 a month for 36 months. Good????

dman72

We negotiated $35,700 for a 4WD Touring with NAV (No RES). However, the dealer was low balling us on our trade in (2008 Element). I was able to get them to come up about $800 and within $200 of my target on that. I figured that was close enough.

The said they could get the car in about 2-3 days. (So I knew the other dealer was lying about saying there were no white colored Pilots in the entire region).

So- turns out they had a white 4WD Touring with NAV & RES on their lot and we started going back and forth on that. I figured it wouldn't hurt just to see how low I could get them.

We ended up at $37,300 but it also has wheel locks and a Lifetime power-train warranty that is through a third party. If you figure that was maybe $500 in value and wheel locks minimal then perhaps I could have gotten more in the $36,800 range.

I think that is fairly good...

Thoughts?

jet757f

Anyway just to let everyone interested know the outcome of my lease return with Honda.

I left the overhead screen in. The inspector didnt say anything about it. He found some minor dents and 3 worn tires for a total of $772.00 which is all covered under the $1500 damage waiver. I was surprised he didnt write up the cracked windshield.
So the only charge Im getting is for the mileage overage which is around $3000.00 which is killing me.

Too bad it was really a good lease from what Im hearing these days. It was around $360.00 per month.

CarMan@Edmunds

Hi hjh22. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Honda Pilot EX-L 4WD without RES with 15,000 miles per year are .00197 and 51%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

The residual value for a lease with only 12,000 miles per year is 2% higher.

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gman1957

Car man.
As you may have heard that Honda is promoting there end of the year sale on all models. But I am looking for 2010 Honda Pilot EXL with RES.IS this promotion just to get you in the door or do they really want to move the vehicles out and because of the end of thr year sales numbers and meeting goals. Should I wait or pursue a deal. How much should come off the sticker price.Please reply and Happy Holidays to all.

jayrider

If Honda says they are having a year end sale-athon, why would you doubt their sincerity. I always look for balloons and pennants when car shopping -- a sure sign of a "can't be beat -- no negotiating necessary deal." Car-man taught me that.

gman1957

No I will never doubt their sincerity.Just wondering if its before or after the holiday when the real deals are really out there.Does anybody know in the NYC area whats the going lease rate for the Honda Pilot EXL 4 WD with taxes and fees upfront. Have a good holiday everybody.

CarMan@Edmunds

Hi gman1957. Honda's December incentives on the 2010 Pilot are OK, but they wouldn't exactly cause me to go dancing in the streets. It is currently providing 1.9% to 2.9% special financing or a .00197 lease money factor (around 4.7%) on it.

Generally speaking, the end of the year is the best time to purchase a new vehicle, but I don't think that you're missing out on much here if you decide to wait.

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gman1957

Car-man one more question and I thank you for replying to my inquirey.I am presently leasing a 2007 Pilot EXL with RES right now. My buyout is $ 19000.00. I have 3 payments left. My payments are $ 327.00.I am looking or debating to do the same vehicle.I was quoted MSRP $ 37155.00 internet special for 33,850.00. Here is what they are saying. They will try to get to the amount for which I am paying right now plus eat the last 3 payments. With the money factor around 4.7%. I can't see it and I don't want to be taken. MY vehicle has only 22,500 miles way under the 36,000.Car man need some good advice here. I have been reading all of your sugggestions from other potential buyers. What would you say how much to put down? If any. Or maybe use my vehicle as some equity because of the low miles. Please help and Happy Holidays !

fez3

Hi,

I am currently shopping around for a 2010 Honda Pilot EX lease. The Paragon Honda dealer in NY is giving me a quote for LX 4WD (EX 4WD is around $560 /month) at $0 down $430 /month, which includes tax and title fees. I only have to pay first month payment and DMV fee. So total due at signing is $766. Its a 36 month lease with 12000 miles annually.

Do you guys think it is a good deal for LX model or I could find a better deal for EX or LX?

Thanks,
Fez

ccnj1

I am not sure this is better, but I got $387 a month withgh $2500 down which included fees and taxes. I also got a credit of almost $500 for rewards from my previous van. So, I guess that would make my amount down closer to Mine is an LX 4WD Mocha and it had less than 25 miles on it.

I dealt with Rt 23 Honda whom I love working with for the past 10 yrs.

Cathy

hollywood53

If you want to come to LI I can help you, I am a retired General manager and have been helping people with hondas or bmw and volvo,s somethingnew53 yahoo

gman1957

How can you help? Lived In NYc area