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Honda Pilot Lease Questions



  • I checked on the Honda web site this morning and the VP Pilot regional lease is still there - now through April- so I should be able to get the same deal as 2 weeks ago (at least)

    4wd Pilot VP in northern NJ

    314 + taxes - 36 month - 36k miles
    $500 down
    i dont remember the buyout
  • cjkbme2wcjkbme2w Posts: 82
    Since the VP lease goes through April and I have a local dealer in Bel Air, MD who has a lot of VPs, I would be interested to find out what Base Cap Cost I can expect to negotiate.

    Selling price of the VP-4WD = $23,860.87 (before registration, no taxes in DE where I live)

    If I break down the Honda Pilot Deal in my area

    $259/ mo
    $1,645 cap cost reduction
    $595 aquisition fee
    $259 first payment
    Residual = 53%
    Money Factor = 0.00043

    And I work backwards, I get $26,125 as the Base Cap Cost (this gives me $259 per month using the above info in calculator)

    This is only $770 below invoice. Does anyone know what the lease incentive is to dealers. If it's $1,500, then I have some work to do.

  • cjkbme2wcjkbme2w Posts: 82
    What was your Base Cap Cost on this? It seems high.
  • cjkbme2wcjkbme2w Posts: 82
    I live in DE, which has the lease special and my local dealer has found the color of the VP that I want in MD, which does not have the lease special. Can I still get the special if my local dealer has the car shipped from MD? I haven't asked my local dealer this yet (Martin Honda), as I wanted to see what your thoughts were.

    Also, what Base Cap Costs have people negotiated here. The Honda Special is
    Invoice - $770 from what I calculated. I could be off by a couple hundred though.

    Craig in DE
  • Here is the regional deal on Pilot VPs - maybe this can relate to your deal but it has a lot of dealer gobbledy [non-permissible content removed] in it

    $259.00 per month for 36 months. $2,499.00 total due at signing.
    Includes down payment with no security deposit. Excludes taxes, titles and fees. For well-qualified buyers.

    FEATURED SPECIAL LEASE AVAILABLE ONLY TO RESIDENTS OF: CT, DE, IL, IN, KY, MA, ME, MI, NH, NJ, NY, OH, PA, RI, VT & WV. Closed-end lease for 2008 Pilot 4WD VP Automatic Transmission (Model YF1828EW) for $259.00 per month for 36 months with a $1,645.00 capitalized cost reduction available to customers who qualify for the AHFC Super Preferred credit tier. Other rates/tiers are available under this offer. $2,499.00 total due at lease signing (includes first month's payment, AHFC upfront acquisition fee and capitalized cost reduction with no security deposit. Total net capitalized cost and base monthly payment does not include tax, license, title, registration, documentation fees, options, insurance and the like). Not all buyers may qualify.

    Subject to limited availability. 3/04/2008 through 4/30/2008, to approved lessees by American Honda Finance Corp. Closed end lease for 2008 Pilot 4WD VP Automatic Transmission vehicles (Model YF1828EW), for well qualified lessees. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. MSRP $30,430.00 (includes destination) less the capitalized cost reduction resulting in actual net capitalized cost $24,817.94. Dealer contribution may vary and could affect actual lease payment. Taxes, license, title fees, options and insurance extra. Total monthly payments $9,324.00. Option to purchase at lease end $16,127.90. 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.
  • bigdadi118bigdadi118 Posts: 1,207
    BRAND NEW2008
    Save Over $8,338 OFF MSRP
    MSRP $30,380 .... 2 silver colors
    Selling Price $21,998
    $198 x 36, 50% res.
    12,000 miles/year, .20/mile excess; $2995 down plus tax & fees (this fee $595 acq., & negotiable dest charge $650)
    Security deposit wavied.
    Excludes taxes, title, doc fee $298, and registration fees.

    * Tax per month = 198 x your state tax %
    In MA is 5%, that is $198 x 0.05 = $9.90 / mo

    My question on 50% res : is it based on MSRP or Selling Price???
  • kyfdxkyfdx Posts: 63,165
    My question on 50% res : is it based on MSRP or Selling Price???



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  • bigdadi118bigdadi118 Posts: 1,207
    Thank You :) and it's good to know.
  • this SEEMS like a real good deal - but I am not sure how much things really turn out to be - they quoted you a low price but there is also 3000 down and at least 1550 in up front fees.

    See what kind of number they will give you with just 500 or 700 down include all the extra charges back into the lease.

    Also do you want a 2WD not 4WD in the Boston area?

  • bigdadi118bigdadi118 Posts: 1,207
    President Day week they have 999.00 down, 249/mo for EXL w/NAV, still 2WD.

    I think I can live with FWD. I am driving 07 Odyssey LX now which is 2WD also, not a problem during this snow season.

    It is weekly promotion. Next week will have another trim model on special, VP, Ex then EXL w/NAV or w/RES keep on rotating.
  • clinton2clinton2 Posts: 4
    FYI - just paid:

    ~31400 Cap Cost

    ~18,600 Res

    .00043 mf

    ~$390/mo + tax

    0 down
  • that sounds like a great deal-
    really nothing down?
    what state?

    After a lot of negotiating and searching

    Pilot VP 4WD - in NJ
    335 a month (that includes the tax)
    500 down + 283 motor vehicles charge
  • bigdadi118bigdadi118 Posts: 1,207
    EVERY NEW2008
    PILOT VP 4X4
    Save Over $6,588 OFF MSRP of $29,630

    Approved credit; 12,000 miles/year, .20/mile excess;
    $999 cash or trade down plus tax & acqui fees. Security deposit wavied.
    $299 x 36, 53% res.

    Price excludes taxes, title, doc fee (298.-), and registration fees; prices include all customer rebates, promotions, and incentives to dealer.

    This should be Honda Car Finance Lease.
  • clinton2clinton2 Posts: 4
    yes 4x4 - chicago area
  • qbrozenqbrozen Posts: 21,969
    how many months and how many miles? Is that stated cap cost before or after fees? If after, would you mind breaking the fees down?

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • clinton2clinton2 Posts: 4
    sorry - left out the additional details....

    36 mo/36 k miles
    1st payment was all I paid

    all the fees were included in that price...sorry I don't have that detail - I think the doc fee for IL is $150 - that was included, as well as some acquisition fees. They backed those into the lease cost I wanted. Had gotten prices at several dealerships first, armed with this knowledge and the info on this board. The dealership still hit me up with the typical salesroom bs - the stuff that makes everyone cringe when thinking of buying a car - they started the lease pricing at almost $700/month with a $2000 down payment and also threw in several different sales people, closers, etc.during the process, as well a last minute fee, but in the end, I came close to getting the price I wanted for the car I wanted.
  • qbrozenqbrozen Posts: 21,969
    that at least gets me in the ballpark ... i think.
    i'll throw this the wife's way. I think it will come down between this and the used XC90 she is drooling over.

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi eyedoctor. I would be happy to help you out. This truck's lease payment will vary depending upon what its selling price is. For the purpose of this exercise I will assume a selling price of $500 over dealer invoice. According to my calculations, if you were to lease a 2008 Honda Pilot EX-L AWD without navigation or the entertainment system options that has an MSRP of $34,080 and a selling price of $31,417 through Honda Finance in New York right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment would be around $421 assuming that you qualify for its top credit tier and pay a security deposit at lease signing.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    That's a really good question, Craig. I suspect that the answer is yes, you would be able to take advantage of Honda's special regional lease program. Consumer eligibility for incentives is usually based upon the place that they live, not where they physically take delivery of the vehicle or where it is from.

    Prices Paid: Buying & Leasing Experiences Forum
  • I'm looking into leasing a Pilot SE or EX in the Chicago area. How is sales tax figured into the payment?

  • kyfdxkyfdx Posts: 63,165
    Sales tax in Illinois is calculated on the entire selling price of the vehicle.. You can pay it upfront, or roll it into the payments..

    It's very expensive to lease in Illinois..

    Depending on where you live, you'll need to watch out for the Chicago lease tax.. That is an additional tax on the monthly payment.

    Good luck!


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  • Thanks for the info.

    I want to email several dealerships around the area. What information do I need to get from them in addition to:

    Base Cap Cost
    Costs added to Lease
    Cap Cost Reduction
    Residual Factor
    Money Factor
    Lease Term
  • dwynnedwynne Posts: 4,018
    Negotiate the price on the price first - you do have to let them know you are leasing since in this case it effects the amount of the dealer incentive. But you want to be around invoice less incentive ($1,500-$2,500) for the Pilot, destination, and any dealer doc or prep fees. I have never heard of a Honda dealer marking up lease rates, but I suppose some of them could do this. Once you have the best price, the other numbers like taxes, tags, title should be the same wherever you lease from - the same for the lease MF and residual. Just plug the price in and figure the payments.

    IL is one of the states with the special discounted lease rates. Good thing, since having to pay state and perhaps local tax on the whole Pilot would pretty much mean leasing would not be smart without such a cheap rate.

  • bigdadi118bigdadi118 Posts: 1,207
    Remember this is not standard charge in leasing. The floor manager at Boch Honda in Boston area always add the destination 600's. DO NOT bite this bait. They will take it off if one protects. Bank Acqui fee 500's is somewhat standard though.

    The lease should contain below upon signing. Anything else tell them take it off.
    1st month payment
    Bank Acqui Fee
    Doc/Adm Fee
    Reg/Plate Fee
  • dwynnedwynne Posts: 4,018
    You do not understand, you do have to pay the destination charge it is standard on every vehicle sold.

    What Boch and many other dealers do is list prices on their web page, ads, and in e-mail and phone offers that DO NOT INCLUDE the destination fee. This makes their numbers sound a lot better than the competition and is used to lure you onto the lot where they then add destination back onto the price. Dealers do the same thing with a high doc or prep fee - they advertise or give out a good price, then sock the fee on top of it once someone tries to lease or purchase the vehicle.

    A smart shopper makes sure that all quotes they compare include the vehicle, destination, and any dealer dor or prep fees. Then you compare these quotes and choose the lowest and THEN you go to the dealer to get it. If you are not specific that you want the quote to include these three things then you will be fooled into going to a dealer that will try to inflate the price on you. If they do give you quotes that include everything and they try to add something once you are there, just leave.

    The bank fee / acquisition fee is $595 with AHFC and does have to be paid on every lease.

  • bigdadi118bigdadi118 Posts: 1,207
    I talked live online with Boch's internet sales person and I printed the conversation out. I asked the amount due at signing and the breakdown. Online he didn't quote me destination charge. I brought along the print out and showed it to that floor manager as soon as he showed me his figure due upon signing w/destination charge. He saw my printout then simply crossed it out and go in the office & come back again some other numbers. He just play around some numbers and intends to squeeze buyers as much as money as possible for the dealer.
  • dwynnedwynne Posts: 4,018
    If you specifically asked if the price included the destination and he said it did, then they lied and tricked you onto the lot hoping you would do the deal anyway.

    If you did not ask if it was included, then they just tricked you into coming onto the lot hoping you would do the deal anyway.

    Either way, bad dealer - no biscuit :D .

  • I am not sure that Honda charges a bank fee - and the security deposit is dealer optional - I havent had one on my last 2 hondas

    Here is the deal that I am picking up before the end of the month.

    It is the regional deal with a little improvement

    4WD Honda Pilot VP
    $335 a month (that includes sales tax in NJ) - sales tax in NJ is 7% on just the monthly lease payment - the base number is $314
    36 months, 36k miles
    $500 down and also $280 for 3 years of motor vehicle fees - the car wont need registration again while I own it

    I thought this was a pretty good price
  • dwynnedwynne Posts: 4,018
    I am not sure that Honda charges a bank fee - and the security deposit is dealer optional - I haven't had one on my last 2 hondas

    The acquisition fee / bank fee is $595. Security deposit is not "Dealer optional" it is required or waived by AHFC. For top tier lessees and returning lessees it is normally waived. If it is not, you can bump the MF up by 0.0001 (IIRC) and AHFC will waive the security deposit.

    You should not base your deal off on any published Honda "special" deals since those leave a lot on the table. You should negotiate the price of the Pilot down to invoice less incentive ($1,500 for the VP with cheap lease) for the vehicle, destination, and any dealer doc/prep fees - or less. Based on what you posted, I have no idea if you got a good deal or not - tell us how much the Pilot was and the dealer fees.

  • bigdadi118bigdadi118 Posts: 1,207
    Herb Chambers Honda (Boston) internet sales refused to quote any price over the phone or by email. They require me to go to the dealership to work out the numbers.

    Of course I refused and say "Thank you very much. I won't come down until I have some solid numbers that I understand. See you later!"
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