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Honda Pilot Lease Questions

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Comments

  • Hi,

    I just came back from the dealer and have negotiated:
    2011 Pilot EX-L
    36 months/ 15K miles
    $2035 down includes 1st months payments
    Monthly cost is $423 a month

    what do ya think? I have been going back and forth with a couple of dealerships, I pick up the vehicle Saturday and wanted to make sure I am good shape.
  • You're very welcome, googgers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'd be happy to work up a lease payment on this truck for you, purple13. However in order for me to do so I need both its full MSRP and its selling price. Let me know what the other is and I'll crunch some numbers for you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi texlink. I know what you mean about salespeople. I suppose that they are in a difficult position because if they provide you with too much information they are afraid that you may end up shopping their offer around at a million different dealers.

    I'd be happy to work up a lease payment on this truck for you, but in order for me to do so I need you to provide me with its full MSRP, in addition to the cap cost which you have already mentioned.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi citivas. Many banks will extend lessees deals on a month to month basis or for a short period of time. I know that I have personally extended a lease through Honda Finance in the past. That was a number of years ago, but I doubt that its policy on this matter has changed.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey nyccarguy. The numbers for the Pilot are still exactly the same as the ones that you mentioned.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jdiz3jdiz3 Posts: 21
    Anyone know when the new lease numbers come out. I thought it was May 2nd, can anyone confirm?

    Thanks.
  • jdiz3jdiz3 Posts: 21
    edited April 2011
    Well I did it. I think I did ok, but Im sure I could've done a little better. Definitely would have done worst if not for this site. Thank you Edmunds.

    EXL w/ AWD
    36/15k
    $3300 total out of pocket

    $426 a month (Arizona tax included)
  • For those people who have leased from Honda before (I never have leased a car before) what is the return process like? are they looking over the car with a fine tooth comb and hitting you for everything possible like bumper scratches small dings etc? That is the thing I am really concerned about with leasing (actually holding me up)

    Thanks
  • gatorbaitergatorbaiter Posts: 20
    I've leased for 10years now..and ususlly it's NOT an issue. HONDA finance looks the car over ..not the Dealer. They usually allow for 1500$ normal wear and tear. tire wear / interior stains etc..etc but dents and a cracked windsheild or something major- ..add up¨ and you 'could' get a hard [non-permissible content removed] that dings you a few bucks..BUT, that said- usually a Dealer that wants to make you a deal, at the end of your lease, with eat that minimal charge..if any. Really? > it's not a big concern.
  • kyfdxkyfdx Posts: 142,929
    Four Honda Finance leases... and, never an issue..

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • 4runnerpilot14runnerpilot1 Posts: 3
    edited May 2011
    My wife fell in love with a dark gray EX-L at our local Honda dealer....sticker price $36,375, plus $280 for dealer-installed wiring harness, for a total of $36,655.

    Thanks to the internet, I found the same dark gray EX-L in Iowa City and another in Omaha...the sticker price at those places was $36,375, but they agreed to install a wiring harness and throw in floor mats.

    The local salesman gave me a number that he said was "very aggressive". I shot that number to Iowa City, who beat it by $600. I then got Omaha involved and their's was even lower.

    All told, the sales price was $32,990, and that includes a $280 wiring harness and all-weather floor mats.

    Turned that price into a 36 month, 15,000 miles per year lease. The residual for that lease is $20,006, and the current money factor is 0.00125 (which equates to 3%). Zero dollars down, $595 acquisition fee, plus a $129 doc fee, and the monthly payment is $447.
  • jobber104jobber104 Posts: 8
    4runnerpilot1:

    Can I assume from your shopping geography that you're in Des Moines? We may be shopping the same local dealer (Smart) for exactly the same vehicle, but sounds like you ended up with a much better deal in Omaha.

    Was that a deal that you closed this month. Curious because I haven't seen the latest MF and Residuals. Last I saw was for April.

    Thanks and congrats!
  • 4runnerpilot14runnerpilot1 Posts: 3
    edited May 2011
    We're in Sioux Falls, and we closed the deal on Saturday here in Sioux Falls.

    Omaha's price was actually the lowest by $200, but we kept it local just to keep it local, and also to access our dealer's loyalty program (free tires if you get your oil changes done here).
  • Here's what I was told for residuals on the EX-L

    36 month, 36,000 mile: 20,733
    36 month, 45,000 mile: 20,006

    It works out to 8 cents a mile for the bump up to 45,000 miles. Which means you'd still be ahead if you only drove 40,000 miles (because the overage is 20 cents per mile).
  • jobber104jobber104 Posts: 8
    Thanks for the info. Looks like the residuals they gave you are the same as they were in April (55% for 15k mi/yr, and 57% for 12k mi/yr). Money factor looks better than April, though.

    Enjoy the new rig!
  • kaojoekaojoe Posts: 2
    So, my husband and I are pretty sure we want a Pilot. We're Honda junkies and have our 3rd child due in early November. So, we are thinking we need a Pilot. We finish paying off our CR-V in August, so probably won't move until then. We only want one payment at a time. We've never leased, but are thinking we will this time.

    Question is, I'm getting a lot of good deals it seems on my inquiries for Pilots right now in New England. ($31658 for an EX-L 4wd.) The lease numbers also look good now. If we put off getting the new car until September, October or even early next year, are we going to get such a good deal? It would allow us to have some months without any car payment, but I'm afraid any savings will be lost in paying more for the 2012 and less desirable lease deals. What do you think?
  • nyccarguynyccarguy Stamford, CTPosts: 13,686
    Funny, we are in similar boats. Our 3rd child is due in early December & we found the Pilot will hopefully be the perfect addition to our automotive stable which includes my 2001 Honda Prelude Type SH (142,000 + miles) & my wife's 2010 Acura TSX (34,000 miles). We're taking delivery of our Pilot on Thursday. Very exciting.

    There are still lots of Pilots out there. Usually I would say that the lease deals & finance deals will get better as the summer goes on. But the disasters in Japan have affected supplies of automotive parts made in Japan. Inventories will start to dwindle & there won't be the usual amount of 2011 "leftovers" that normally accumulate. We're in New England (barely, CT about 10 miles from the NY border) too.

    I was planning to wait as well, but made a move when I saw Honda Finance raise their promotional APR from 1.9% in April to 2.9% in May.

    If you like Hondas, I'm sure you'll love the Pilot. Good luck to you!

    Our biggest reason for choosing the Pilot was the fact that it is the only vehicle that's not a Minivan or Cadillac Deville that has 3 full sets of LATCHes in the second row plus 1 set of LATCHEs in the 3rd row.

    If you like Hondas, I'm sure you'll love the Pilot.

    2001 Prelude Type SH, 2017 Pilot Touring AWD, 2019 Tacoma TRD Sport 4WD

  • chawk01chawk01 Posts: 7
    Car_Man,

    Can you tell me the lease variables (residuals, MF, etc) for the following:

    EX-L with RES and Touring trim lines

    36-month
    10K miles per year

    Any idea if June rates will remain the same or improve? Do we think 2011 inventories will start to thin out with the current Japan part issues and the impending 2012 arrival?

    Thanks!
  • I'd be happy to chawk01.

    Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L Touring 4WD with RES and 12,000 miles per year are .00125 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    I don't know if Honda Finance offers leases with only 10,000 miles per year on Honda Division vehicles, but if it does its residuals for that term are likely 1% higher.

    It's difficult to say what Honda's June programs will be like for the Pilot, but I personally don't anticipate them being any better. I'm not sure what the inventory situation is like for the Pilot right now. I have heard that the production for a number of Japanese automakers will be restored more quickly than had originally been feared, but I expect supplies to still be thin for a couple of months.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mkb74mkb74 Posts: 3
    i had a lease deal that i walked away from 3k down with 450 per month and 3k down for the same car in nnj
  • texlinktexlink Posts: 5
    Did I do ok?

    36 month lease, 1500 down plus first payment, $475 month, 15k per year. Gross Cap Cost of $36429. From the finance guy included 3 years roadside assistance, tire & wheel coverage, theft protection (blah blah blah) and something I hadn't seen before. Paintless Dent Repair coverage for 3 years. Apparently unlimiting fixing of single instance dings that are less than 4 inches. He said they charge for these and then get rebates back to cover them. Nothing was added to my cost. Car also had dealer package (tint, pinstripe etc), all weather floor mats and rubber cargo mat.

    Residual of 51% of MSRP ($20,183)and money factor of .00125. Dallas area.
  • dbagdadidbagdadi Posts: 12
    Hi Car_man,

    What are June's rates for the 2WD EX-L RES 36 months, 12k please?
  • tlgoldentlgolden Posts: 9
    Car man:

    Can you please update us on the June numbers? Looking at 36 mos., 12k per yr on the Touring 2wd.

    Thanks in advance.
  • Here you go dbagdadi. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L RES with 12,000 miles per year are .00142 and 57%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey tlgolden. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot Touring 2WD with 12,000 miles per year are .00142 and 53%, respectively for consumers who qualify for its "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • geneatalsgeneatals Posts: 3
    So I'm no stranger to leasing, just leasing Honda's. My wife and I have a second child on the way and we looking to get into a Honda Pilot for some extra room. Here's the price quote I got from one dealer for a Taffeta White 2011 Pilot EX-L w/ Rear entertainment pkg

    Cap Cost -$35,824 ($35,229 sell price including running boards + $595 acquisition fee)
    Residual -56% of MSRP - $36,375 = $20,370
    Money Factor - .00142 (assuming tier one credit)
    Drive off cost – $1,161.62 ($577.87 + $45 doc fee + $530 DMV and $8.75 tire fee)

    Payment - $526.53 + tax = $577.87 assuming LA County tax

    Now to me, that cap cost/selling price is way too high. I'm not a fan of working MSRP down but rather invoice up. From what I've seen and found on the internet, invoice is about 32K. So am I right in thinking this dealer is trying to take advantage of me. Thanx in advance.
  • sho220zsho220z Posts: 11
    Can I get lease numbers for an EX-L (no navi, no RES) for June? Residual and MF?

    Dealer quoted me .00132 MF and 55% residual for 15K miles and 36 months. This is for Chicagoland. Is he being honest?
  • wallstreet1234wallstreet1234 Posts: 41
    edited June 2011
    Is this a good price for a lease 2011 Pilot EX-L 4wd, what else should I be asking the sales person (this is being done over the internet)

    MSRP $36,680.00
    Sale Price $31,362.08
    Residual $20,907.60 (57% of MSRP1)
    Financing 3.41% APR (0.00142 money factor)
    Incentive $1,000.00

    Depreciation
    Sale Price $31,362.08
    Lease Acquisition Fee +$595.00
    Capitalized Cost $31,957.08
    Capitalized Cost Reduction
    (Down Payment) -$0.00
    Adjusted Cap Cost $31,957.08
    Residual Value -$20,907.60
    Depreciation $11,049.48
    Finance Charge
    Adjusted Cap Cost $31,957.08
    Residual Value $20,907.60
    Average Financed2 $26,432.34
    Financed at 36 mo 0.00142 money factor3
    Finance Charge $2,702.52
    Fees Due at Signing
    Down Payment $0.00
    Documentation Fee +$239.00
    Fees Due at Signing $239.00
    First Month's Payment $382.00
    Total Due at Signing $621.00
  • Even if you don't buy the car at the end of the lease?
  • kyfdxkyfdx Posts: 142,929
    Yes.... I've never bought a car at lease end...

    Honda Finance is very upfront and very easy....

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • For those who have lease their vehicles have you also taken gap insurance on the vehicle? If so how much does it cost and how long do you keep it on the car?
  • delta737hdelta737h Posts: 626
    wallstreet1234,

    GAP is included in all AHFC leases at no additioal charge. Never ever buy GAP from a dealer as it can usually be purchased from your insurance carrier for an annual premium of about 0.1% of the MSRP as a rule of thumb. Your insurance carrier simply adds a GAP rider to your existing policy. Dealers charge outrageously inflated fees of $300 - $400 for GAP. GAP covers the amount by which your lease balance exceeds the value of the vehicle should it be totaled or stolen and never recovered. That's why GAP is relatively cheap.

    Hope this helps.

    John
    The AutoLeaseGeek
  • Thank you for that information.

    I did not know that Honda includes GAP insurance. That is a good thing to know.
  • You certainly can, sho220z. Honda Finance's June buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L 4WD with 15,000 miles per year are .00132 and 55%, respectively for consumers who qualify for its top credit tier.

    So in answer to your specific question, yes the dealer is being honest with you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • has anyone used Weymouth Honda before when buying/leasing a car.

    They have given me the best price on a lease no dealer in my area seems to even come close on an EX-L lease.

    I live in NY and it is a 4 hour drive to them but worth it for me if others have had a good experience with them.

    Thanks,
    Steven
  • aces_fullaces_full Posts: 16
    What were the terms of the lease?
  • kyfdxkyfdx Posts: 142,929
    Lots of Weymouth Honda posts in the Odyssey Prices Paid forum...

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • I am leasing my first ever automoblie (Pilot). My wife and I are both concerned with the return process and what we might get hit for regarding damage etc, we live in NY so there are many people who hit your car and drive off etc.

    What insurance can I get that will cover the costs for repairs on dings, minor dents etc so that I will not get any surprises when I return the car.

    I wanted to know what this insurance is called and who offers it.

    Thanks,
    Steven
  • Does a Lease from Honda finance charge a lease disposition fee when you return the car?

    I do not have my documentation yet but wanted to ask before it arrives.

    Thanks
  • delta737hdelta737h Posts: 626
    Honda does not incorporate a disposition fee in their leases.

    John
    TheAutoLeaseGeek
  • jsdilopsjsdilops Posts: 60
    Hi car man:
    Can you post the residual and MF for a 2011 Pilot EX-L lease, 2WD no res, no navi, 12k and 15k miles/year, 36m.
    Thanks
  • toni32toni32 Posts: 2
    I am new to leasing and have been shoppint around for Pilot EX-L. I was quoted a price from one place at $369 per month (not thru Honda bank) with basically about $3K down (taxes, dmv, etc). This would be for 42 months for 10K miles per year. I went to another place and was quoted about $430 a month for 36 months (thru Honda Bank), 12K miles per year with $1300 down ). This is for the Pilot EX-L (without navigation or DVD). Are these good prices? Which is the better deal? I heard that if you go thru Honda, Gap is included. The place offering the deal thru Honda Bank also mentioned that if you are offered deals not thru Honda Bank, the monthly price seems lower, however, there are a lot of hidden fees you pay. Please help!

    Thank you all in advance!
  • toni32toni32 Posts: 2
    I am new to leasing and have been shoppint around for Pilot EX-L. I was quoted a price from one place at $369 per month (not thru Honda bank) with basically about $3K down (taxes, dmv, etc). This would be for 42 months for 10K miles per year. I went to another place and was quoted about $430 a month for 36 months (thru Honda Bank), 12K miles per year with $1300 down ). This is for the Pilot EX-L (without navigation or DVD). Are these good prices? Which is the better deal? I heard that if you go thru Honda, Gap is included. The place offering the deal thru Honda Bank also mentioned that if you are offered deals not thru Honda Bank, the monthly price seems lower, however, there are a lot of hidden fees you pay. Please help!

    Thank you all in advance
  • Lease offer for 2011 Honda Pilot Touring edition in the NY area. Tier 1 level 36 month 15,000 mile per year. Money factor is .00142 and the residual value is at 51% $20,999.25. How am I doing????

    Selling pice: $36,600.00
    Up front tax: $ 1,809.54
    Assignment fee: $ 595.00
    Tot Cap Cost : $39,004.54

    Out of pocket: $ 691.26

    $585.35/month
  • We are picking up our leased Honda Pilot 2011 EX-L with Zero down and 12,000 miles per year for 36 months from Weymouth Honda for 382 before taxes.

    I live in NY and anm picking it up tomorrow. No dealer in my area could come close. It is leased through Honda. We do not plan on buying it after the lease is up.

    Hope that helps.
  • How is that ex-l equipped??? Navi/Rear entertainment??? Could you please elaborate.. Thank You.
  • Just plain EX_L NO Res and No Nav
  • The first offer only allows you 35,000 miles for 3 1/2 years. You could run a real risk for going over miles limit depending on your driving habits. The price difference between 12,000 & 15,000 miles is not all that great considering would you could pay when you turn in the lease.

    Here is a formula to help calculate your monthly payment. Helps keeps the dealers honest.

    F= Money Factor
    C= Total Cap Cost
    R= Residual
    T= Number of months in lease

    payment= F(C+R) +(C-R)/T

    So the next time you speak with your dealer see if they provide you with this information. That way you can check his or her numbers.
  • Did you get your total cap cost after the taxes are factored into your selling price plus the assignment fee? This way you could truly calculate your payment before heading to Mass.
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