Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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They are all way overpriced. The #3 option might be ok at $17,000. #1 is way too old to pay $22k should be around $15k. #2 should be around $20k.
What kind of financing are you getting? '10 Pilots have 2.9% for 5 years. A new '10 LX 4WD is $27k and '10 EX 4WD is $30k.
My experience is that the certified Hondas are overpriced. I always buy new since we keep our cars for around 5 years with 18k miles/year. When I bought used in the past, the car had 40k so after 5 years it was well over 100k and worthless.
Do the math. Make sure you are prepared, don't make your decision solely on the first cost (purchase price). The overall life cost is what you need to evaluate. MPG, insurance, depreciation, etc.
Good luck.
correct me if Iam wrong!
This is a New 2010 Honda Pilot 4WD Touring with Nav; BUT NO RES.
I paid $36,056 all-in except tax.
Markley sells Hondas as well as the domestics you mentioned.
I would have stayed away from the extended warranty and protection package. That's where they made their money. In my opinion, the protection packages are somewhat of a scam, and I can't imagine buying an extended warranty for a new Honda. Most buy Hondas for their outstanding workmanship, quality, and durability in the first place. I might be inclined to buy an extended warranty for an American vehicle - but then again, I wouldn't buy American.
I'm off to finalize a '10 touring with Navi and RES this weekend. I'll be looking for a price around $36,500. Will probably take the best offer under $37K. I already have an offer at $37,152 (inv + dest fee) - but they knew I wasn't buying that day and I hadn't yet pushed them. The real fun will be to then negotiate the trade-in on my Odyssey. BTW, I'm in MA, Southern NH.
Am I screwed?
Thanks
FYI, stopped by Commonwealth Honda yesterday. Walked out after dealing with a very unprofessional salesperson. Arrogance was incredible. Got a tempered apology from them, but recommend to anyone else to look elsewhere.
I am also looking for any insight on leasing. We were quoted a monthly lease of $642 by one dealer, which seems high to me. They did not disclose the other lease terms that we used to calculate that price.
Any insight would be greatly appreciated. Thanks!
Just make sure you know what the out-the-door price is. You never know just how good the deal is until you compare the incidental charges that some of the various dealers try to hit you with (i.e. Documentation Fees). Good luck.
I recently leased a different vehicle, and considered it as my wife and I are looking to get a Pilot. We'll be buying on this go around but I did inquire about current lease terms. Remember, it's a financing option, so it's really no different than if you purchased and took advantage of Honda Financing's purchase loan terms. Here's what I wrote down for lease terms that Honda is currently offering:
Money Factor = .00175
(Money Factor is akin to an APR. This value is equal to 4.2%.)
Residual Value = 53% (not sure if this was for 12k or 15k miles per year)
(Residual Value is a pre-determined value that Honda says your car will be worth at the end of your lease.)
These 2 terms are set by Honda Financing. The rest is dictated by your negotiations as well as local tax %'s, etc.
A 53% residual value after a 36 month lease based on an allowance of 12k miles means that your car will be worth 53% of the original MSRP. You'll essentially be paying for the difference between this value, and what you negotiated the cap cost to in order to rent the car from them for 3 years. At the end of the lease, if you wanted to buy the car outright, you'd owe them that value.
I'll try to simplify.
Step 1: Negotiate your price (Cap Cost)
Step 2: Verify the Money Factor and Residual Value.
Step 3: Determine if you want to pay a down payment, AKA "Cap Cost Reduction." All this does is provide more money up front to lower your monthly payments. Since you're "renting," there really is no reason to put money down. I didn't put anything down on my lease - however 1st month payment and an "acquisition fee" are often due at signing. This is often standard.
Step 4: Determine your state's tax rate.
Step 5: Plug these figures into this calculator:
link title
Here's an example: EX-L with RES
MSRP = $37,755
Example Cap Cost = $33,260 (taking your figure above)
Res Value = 53%
Money Factor = .00175
Example Tax Rate = 6%
Miles = 12k allowance per month
Term = 36 months
Cap Cost Reduction = (ex) 1st month + Acq Fee = approx $1,200
Result = Monthly Payments of around $500.
It's really not that confusing once you make sense of it. The dealerships like to keep it confusing to consumers so they can negotiate based on monthly payments. Once they get you zeroed in on that, they have you. Lots of things change the actual monthly payment. "Buying" extra miles up front. Different term (months). Down payment/Cap Cost reduction money. Also, Honda may change the terms at different times. Sometimes the Money Factor is higher or lower, and sometimes the Residual Value % they use is different. Good luck on whatever you do! Hope this helps.">
Dealer is getting the Pilot tomorrow. There really weren't a whole lot of cars in this trim available in the surrounding areas. Some dealerships had none, while most had only 1 available.
What is the source of this information?
I am in the market for a 2010. If this is indeed true, I will wait for the 2011.
Couple of dealers have offered $25,000 + Destination + Tax + Tags.
Need feedback from anyone else who bought the same trim level. Thanks.
What is the trim level of your 2010 Pilot? Are you happy with the build quality of this vehicle? Any rattles, squeaks or noises when you drive the vehicle?
With a job, family, hobbies, etc., I appreciate not having to run around to dealerships wasting time listening to "pitches". I prefer a reasonable partnership on a deal rather than animosity to squeeze pennies out of each other. (Although I understand how some see this part as "fun").
As for the "extras", for me, it's not always about price, rather it's about value.
1. The protection package: In the mountains, a clear nose mask is a great idea. It'd cost $275 after-market so I was ok paying $399 to avoid the extra half-day of effort. Plus, I got some paint and seat protection that I didn't really care about (but, actually I had this on a previous vehicle and when my car got keyed they insurance paid for all repairs with no deductible/no impact on auto insurance rates).
2. The extended warranty: I'm confident in Honda's mechanicals but the electronics are another story; especially with 2 little boys that are gonna push buttons. Paying $1,090 to get an additional 4 years of coverage is good value to me especially since it includes Roadside Assistance (i.e. save $200 on AAA) and oil changes (save another $200). So, $690 for an extra 4 years of coverage is a good bet in my opinion.
Good luck with your purchase. I hope you get what you want.
My car is 2010 2WD EXL Pilot w/o res with gray color.
Tutt
Sound like a good deal to you? The wern't negotiating too hard so I don't know if I should push more or just go for it.
And how much CAN you negotiate on extras (such as extended warranty)?
Thanks!
We live in So. California and I was able to get the Pilot for $750.00 over invoice. That ended up being 36805.00 before taxes and fees, but still a great deal according to Truecar.com. I got them down from 1500.00 over to this point. The key was shopping around and working the dealerships against each other. They all want to close the deals. Other dealerships worked hard for our business, but they all had to dealer locate the vehicle as they are hard to come by in this trim level. Only 2 in the state in the silver or gray with black leather. And the Gray with gray leather is even harder to find. Luckily for us our local dealership had it and they got the deal to the numbers I wanted (After 2 visits).
If you are shopping for one, get one and act fast. They sell quick. Well worth the expense. I would not pay over 1000.00 over invoice, but you should be able to get it under that with a little hard work and always be willing to walk away. I walked away from 3 other deals and dealerships before one dealer finally got to what I wanted.
New to the list, and new to Honda with the recent purchase of a 2010 Pilot EX-L 4WD. Something that may be of interest to those of you in the Carolina region is using a credit union car buying service. I live in East TN, and test-drove a used '09 EX-L 4WD at the local Honda dealer. The asking price seemed fair, but I was not overly impressed with the trade-in offer on my '04 GMC Envoy. The credit union I belong to recently partnered with a large credit union in central NC and began offering a car-buying service. Out of curiosity, I completed their on-line trade-in assessment form for my Envoy, and completed another form detailing what vehicle I was looking for. Was contacted by the rep the next day, and they offered me $1,000 more than the dealer offered for my Envoy, sight unseen. Also started a search for either a used '09 or new '10 Pilot. They were able to locate a new one matching my exact color choice within a week. Price for the '10 EX-L 4WD ended up at $33,144 + tag, title, and tax, which looks to be a fair deal, based on what I've seen here. My new Pilot was delivered to me on a Saturday. It was brought over from NC by the selling dealer on a trailer, detailed and ready to go. We met in the credit union parking lot. After a test drive, we filled out the paperwork while sitting in the Pilot. He then loaded up the Envoy and we were both on our way in less than an hour. To me, the best part of this transaction was avoiding all of the hassle in the "back room" at a dealership after negotiating a trade. The buying service does charge an extra $400, but at least the credit union rep told me that upfront in the first conversation we had. Considering they had to haul both vehicles a couple hundred miles, and the paperwork involved, that does not seem too bad. Also received a 0.25% APR discount on the loan interest rate by using the service. Overall, I am very satisfied with the buying service and the vehicle. Got to test the Pilot's ability in the snow this past weekend, and it did great. There are some subtle, yet surprising differences in the Pilot vs the Envoy, but that's best left for another discussion.
My initial trade-in offers varied from $2,000 to $3,000 below Kelly Blue Book "Good" Condition on the first pass from the dealerships I negotiated with. When all was said and done, I traded my car in a few hundred dollars above KBB "Excellent" condition. They realize that unlike a new car that has all costs essentially published, a used car's value is difficult to determine. If the dealer can get your used car off your hands for a good price, there's a good chance they'll make several thousand dollars when they turn around and sell it. Compared to making around $1,000 on a new car sale, the used car portion can be much better for the dealer.
We need some help - looking to purchase a 2010 Honda Pilot Touring 4x4 Navi + RES. So far we have received some quotes that appear to be higher than the other people in this forum. Can anyone share with us a good deal in the Indiana/Midwest Region?
We'd appreciate any and all advice.
Any help you can give us would be great.
Purchased an EX-L 2WD for $31,100, the OTD price was $32,525. How did I do?
Anyway I felt like I got a pretty good deal. I hadn't wanted RES but they didn't have many/any Touring model cars without it so I basically got them to throw in the RES for the price we were talking about without it.
I LOVE the car so far!
edited to add: the price I negotiated with them was significantly lower than what they told me the costco price was... Thanks to these forums and some general searching I realized costco isn't always "the best"