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Honda Pilot Lease Questions

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    mmarceaummarceau Member Posts: 3
    yeah i realize that the sticker price is a joke. I am in a state where the $249/mo lease is available, but i think putting down 2499 is too much. edmunds says they are giving 2500 incentives.
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    dwynnedwynne Member Posts: 4,018
    The example lease deal is just an example - it sets the residual and the MF. You can put down more, less, or none and you can (and should) negotiate a better price on the Pilot. The price as show is about $500 under invoice IIRC.

    In combination to the cheap the dealer may not get the full $2,500 on VP models so can't price it to you as cheap. They may get $1k or $1.5k.

    What I would do in your case is try to negotiate a price for the Pilot, destination, and dealer fee that is at MOST invoice less $2,500. Down into the hold back is even better. THEN I would say "I want to do lease it through AHFC" and see what they say. If they get the full incentive with the cheap lease, you are golden. If they say they can't do it at the same price as a sale, ask them for the lease price. It should be no more than $1,500 higher than your cheap buy price. Then just make sure they give you the buy rate on the lease money factor and you are all set.

    The cheap lease is right at 1% effective of 4WD and even less for 2WD Pilots - and is available to you since you live in a state where they offer it. Under those terms, you should pay at most the first payment at signing and roll everything else - bank fee, taxes, etc ,into the lease.

    Dennis
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    mmarceaummarceau Member Posts: 3
    Well the invoice on the Pilot 4WD VP is $26,261. So $2,500 less than that would be $23,761. If I understood what the dealership was telling me the MSRP was $29,630 - $5,500 = $24,130. That is less than a 400 difference. It seems like a good start. I would want the price to be <24000 with T/T included (8.25% in my county). Is that an attainable goal? Where can I find the Residual and the current MF?
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    dwynnedwynne Member Posts: 4,018
    The MSRP on the VP 4WD is $30,430.00 and not what you state, the "Value Package discount" is applies (the SE is similar). The window sticker on your VP may or may not reflect the higher MSRP but that is what it is, according to Honda.

    Again, I would just ignore the ads and the references to MSRP they don't concern someone who is pricing the car from cost up.

    I don't know about how much your tax and title stuff is, but you want to be at least at invoice - $2,500 for the Pilot/dest/dealer fee. In most leases sales tax is applied to the payment and not up front or to the whole vehicle.

    I have posted it here I think, but you can get the residual from the Honda deal page - the residual amount is shown in the deal. The MF you can figure out by working the deal backwards, but IIRC it is 0.00043 .

    Once you have those number you can figure your own payment and see what effect more or less money down has on it. As I said, at this rate put as little as possible into the deal.

    Dennis
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    swampdragonswampdragon Member Posts: 35
    The factory lease program is availabel in NJ - 259 with 2499 down.

    I emailed three dealers very specific requests - a pilot VP 4wd with $500 down through AHFC (we have a 2004 Odyssey on a month to month lease that can be turned in any time between now and July 1st with no penalty). I asked for a price with MV and Doc rolled into the lease price.

    I got 3 responses

    dealer A - said come on down and he can tell me all about the Pilot. I re-emailed him and asked him if he read my request.

    dealer B - $359.00 presuming you have Tier 1 credit (750 or above) - no mention of tax and MV - and I got to make the deal today or tomorrow

    dealer C - You inquired about the 2008 Honda Pilot. The lease price would be $342.00 with $500.00 down for 36 months and 12K a year. These prices are good until the end of the month then the lease payments will be changed by Honda.

    So is $342 a month a good enough deal - I dont know if it includes tax and MV?

    I also looked at Pacificas to but the residual is about 39% making the lease prices way too high
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    rrbhokiesrrbhokies Member Posts: 108
    I received a quote for $24,300 for a 2WD SE as a purchase price before Freight or any taxes.

    However, when I inquired about leasing, the dealer said that they can't use the sales price as the cap cost. The cap cost according to the dealer is MSRP ONLY. Therefore, the lease price on this vehicle came to $415/mo.

    From what I've read on this forum, I understand that the dealer may not be able to lease at a cap cost of $24,300 but I don't believe the dealer is being honest when they say the cap cost must be MSRP.

    What would be a reasonable cap cost in this situation? I live in Virginia.
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    piccachupiccachu Member Posts: 5
    Just got a quote today for Pilot SE 12k/36mo
    700 out of pocket that makes the monthly 380.

    is it a good deal? Or should I keep shopping?
    I am so ready to end this, the sopping experience is not the best in this area.

    thanks very very much for your opinion.
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    shar7shar7 Member Posts: 8
    That is very similar to my deal, 3 weeks ago. Paid $450 upfront for 1st pymt, lic/reg and my monthly is $378. I live in NY where tax is 8.25%
    This works out to be about $1100 under invoice and I thought it was a pretty good deal. The sales guy said he was basically making $400 which makes sense since the dealer lease incentive was $1500 at the time. There's not too many more SE's to be had around here, esp in the cherry pearl color I wanted, so I went for it. Anyone else have any opinions?
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    carabelcarabel Member Posts: 43
    My lease price is at least 3K below MSRP - in Florida. It's nearing the end of month and end of quarter, the dealers are more likely to want to move a few more cars out of their hands to meet targets. So deal it. Use leaseguide.com to get a target monthly payment that you feel is fair and see if the dealer will meet your offer. You will need the money factor.
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    shar7shar7 Member Posts: 8
    Here's my math for what you got, is this right?
    3K below MSRP = $33,630-3000=30,630 does that include acq fee, taxes, lic/reg?
    What was your final out-of-pocket and monthly figures?

    This is what I got...
    1100 below invoice = $30500-1100 = 29400 + acq fee, taxes, lic/reg.
    = 450 down, 378/mo for 3yrs/12k
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    carabelcarabel Member Posts: 43
    It was a VP MSRP is 27595, Base cap cost is 23639 so its actually almost 4K off MSRP. The final payment was 259 plus tax per month. It was calculated with money factor of .00014 and residual of 54%.
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    swampdragonswampdragon Member Posts: 35
    that looks like a tremendous price-

    3 questions

    4x4 or FWD?

    Did you put any money down on it?

    What was MV/Docs?

    Right now the factory deal is $259 with $2499 down and tax/doc/mv
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    swampdragonswampdragon Member Posts: 35
    This seems like a good deal - I was looking at VP for about the same price.

    Where did you buy it?
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    dwynnedwynne Member Posts: 4,018
    I have only posted this a 'zillion times. The way to do a lease deal is to deal down on the price of the car first, then worry about where the payments fall. In this case, there is a larger SALES incentive than there is a LEASE incentive - but still deal the price down as low as you can get it, THEN talk about the lease. The price may rise $2k or even $2.5k due to the incentive difference. but at least you will know what you are paying for the Pilot. You just plug that number into a lease calculator along with the residual and money factor and you have the payment.

    If you tell a dealer up front you want to lease they tend to only want to talk payments with you, which makes it a lot harder for you to tell if you are getting a good deal or not or even what you are paying for the Pilot.

    Dennis
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    dwynnedwynne Member Posts: 4,018
    There should be a $3,500 dealer incentive for SALES of SE Pilots but only $1,000 or $1,500 incentive for leases. So if they would sell you the Pilot for $24,300 for the vehicle, destination, and dealer fee then they should lease it to you for $26,300 or $26,800.

    From the Honda offers page:

    FEATURED SPECIAL LEASE AVAILABLE ONLY TO RESIDENTS OF: CT, DE, IL, IN, KY, MA, ME, MI, NH, NJ, NY, OH, PA, RI, VT & WV

    It does not look like your state has the cheap lease deal. In that case, you are going to be paying a LOT more money for your lease than folks have been posting here. You may be better off buying the pilot for the price you state, or checking into a 3rd party lease. Check on www.leasecompare.com to see what the payments would be if you got the Pilot for your cheap purchase price.

    Dennis
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    swampdragonswampdragon Member Posts: 35
    I understand what you are saying but am having trouble making the math work. I am currently leasing through AHFC and would like to stay with them.

    You mentioned that you got a smokin hot deal on a Pilot in January.

    What was that deal? and what state was it in? so we all all have a target to shoot for

    thanks
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    bigdadi118bigdadi118 Member Posts: 1,207
    I think this is nice lease, isn't it?

    MSRP 34,280, less $9,392 = selling price $24,888
    3 yrs lease, 12K mi/Yr.,
    $1,999 down, $299/month ... lease end 48% RES
    exclude tax (5%: 14.95/mo), title, registration, 298.00 adm. fee
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    dwynnedwynne Member Posts: 4,018
    My deal is posted in the forum back in January - basically priced down into the hold back with a $1k dealer incentive with 0.31% (effective) lease rate. AHFC had really cheap rates nationwide in Jan, but dropped them to regional lease specials later but with larger buy incentives. Nothing that you can get now where you live, sad to say.

    If you have to pay "full price" for the lease, then I would think you should be able to get the car for invoice less the $3,500 at least. The dealer incentive does not apply to cheap leases, but you would be doing a full price lease so I would THINK would still apply.

    Check around with other dealers and see what they say, maybe the dealer you worked with was not correct.

    You could also wait and see if AHFC brings back cheap lease deal in your state, but I wound not count on it.

    Dennis
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    beesmombeesmom Member Posts: 5
    Wow-it seems like an amazing deal to me. I just got a 4WD SE for about the same deal. Would love to know where you got the deal. Please e-mail me!

    Becky :)
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    bigdadi118bigdadi118 Member Posts: 1,207
    This deal is in Boston, No.1 Honda dealer in the US.
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    carabelcarabel Member Posts: 43
    I gave them 1400 OTD - includes first month payment, title, tags, and cap cost reduction of 900. Again the money factor was lower with leases ending 03MAR. I believe it went up after that. But as Dennis says, get the sell price down to below 24K or the closer to 23K - the better for a VP. So you are looking at at least a 4K reduction in MSRP to get a nice monthly payment going.
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    arob1arob1 Member Posts: 67
    You would be better of leasing AWD. It will be cheaper

    Here is the residual and money factor for SE:

    SE, 2WD: 50%, .00029
    SE, 4WD: 53%, .00043

    I got a quote from dealer in Central Jersey for SE, AWD for $390/month with $586 due at signing to cover first month payment and $197 doc fee ( I know it's too much).

    But this includes my last two lease payments of my current lease
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    shar7shar7 Member Posts: 8
    Actually, mine is an SE AWD, I was just responding to someone else who posted with 2WD SE.
    I got in with the offers ending 3/3/08... 54% resid, .0003 MF, $1100 below invoice. Could I have done better? Taxes here are 8.25%. I put 450 down for 1st pymt, lic and my monthly is $378 inc taxes.
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    hondadriver5hondadriver5 Member Posts: 2
    Hey everyone,

    Just wanted to give you guys the recent deal I got as a data point.

    4WD PILOT VP

    $2100 down, $278/mo. This is with 6.25% sales tax (Lorain County, OH).

    This is with the residuals and MF stated on the webite. MSRP was as advertised on line, and my selling price was around $25,700.

    Hope this helps.
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    eyedoctoreyedoctor Member Posts: 1
    Can anyone tell me what a 2008 pilot EX-L AWD with and without Nav should lease for on Long Island. 36 month and 15,000 miles I want to put down taxes up front only.
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    bigdadi118bigdadi118 Member Posts: 1,207
    Note on Amount due at lease signing.
    Watch out sales people put the Aquisition Fee & Destination Charges there.
    I tried to lease that Honda Pilot mentioned here. 1 of the Sales manager put $595 Aqui and destination charges which I forgot how much (totally they add up to over 1,000) on top of down (cap cost), 1st month payment, title, registration, doc fee. I told him I leased a honda last year via Honda Finance and there were not such 2 charges but he insisted.

    I am lucky to leave the deal because I came home to check my 2007 Honda lease agreement, no such 2 amount charges were listed there. I almost fell into his trap of extra +$1,000. Watch out the above fees if you walk in Boch Honda in Boston.
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    dwynnedwynne Member Posts: 4,018
    The $595 acquisition fee is a real charge and must be paid. It is the same on every AHFC lease and is either added on top of your negotiated price or paid at signing. So if you negotiated $25,000 for a Pilot and you didn't want to pay the fee at signing then your net cap cost would be $25,595. Nothing "shady" or crooked about that.

    The DESTINATION charge is also legit and must be paid by the buyer / lessee (applies to sales and leases), however a lot of dealers will give low-ball phone or e-mail quotes or show low prices in their ads and leave off the destination fee. Then their price can appear hundreds less than their competitors, who include the destination in their quotes. Then when you show up at the dealer they "remember" to add it back onto the price you were quoted and your sweet deal turns sour quickly.

    Dealers that operate where there is no upper limit on dealer doc or prep fees can do the same thing - offer a sweet price then stick hundreds of doc fees on top of that if you don't catch them at it.

    Always get quotes to include the vehicle, the destination charge, and any dealer doc or prep fees. Ask for this specifically and then repeat this over and over - "Does this price include the vehicle, the destination charge, and any dealer fees?". If they say it does, THEN venture onto the lot to try to buy or lease it - if they start adding stuff just walk out and find another dealer. That said, the $595 bank fee (acquisition fee) is legit and would normally be added on top of the lease.

    So they may have got you in with a no destination quote (bad on the dealer, but bad on you for not making sure your price included that), but the $595 fee was legitimate if you are leasing and is something you have to pay one way or the other.

    Dennis
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    piccachupiccachu Member Posts: 5
    MSRP 34430
    $750 out of pocket
    $379 monthly
    lease end purchase $18230
    residule %53
    Is it a good deal in Northern NJ?

    Dealer is straight forward and promise the deal by phone.
    no games, let me in and out in 20 minutes with new car. Exellent sales and manager. Stearing wheel vibrate while back up uphill into my garage.
    love everything else
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    arob1arob1 Member Posts: 67
    I got almost identical quote from a dealer in Central Jersey for 4wd SE : It also includes my last two current lease payments of $ 540.00

    Lease Term: 36
    Total Payment: 390.00
    Out of Pocket: 587.00(first month payment + $197 doc fee)
    MSRP: 34,430.00
    Selling Price: $29,510.40
    Residual: 18,247.90
    Mileage: 12,000
    residule %53
    Money Factor: .00043
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    swampdragonswampdragon Member Posts: 35
    What dealer is this?- I would like to talk with them. and does it include taxes in the monthly payment?

    I got this offer from a northern NJ dealer on a VP
    500 down
    314 monthly (doesnt include tax)
    36 month/ 36k miles

    I dont have the rest of my notes - sorry
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    bigdadi118bigdadi118 Member Posts: 1,207
    Dennis

    Thank you for your quick reply. The Ad. did say + fees. That means dealer can add any kind of fees that they can think of on the offering. Other than acqui, dest fees I think they can throw in gap fee and other strange fees that I never heard of. The doc fee $298 is already kind of high enough. A little here and there will sure add up dealer's profit. I think consumer has to understand what fees are standard, what are not, as hidden charges.

    Next time before I walk in, I will ask the out of the door charges, and breakdown list of charges.
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    fuzzydicefuzzydice Member Posts: 9
    does anyone know for those who are in states that still have special lease deals, how they compare to the march MF and Residual? Also, how does 4wd residual compare to 2wd. if higher, does it offset the increase in cap cost?

    thanks!
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    arob1arob1 Member Posts: 67
    This is for EX, SE and EX-L in NJ as per the dealer I am dealing with:

    2WD: 50%, .00029
    4WD: 53%, .00043

    Also Honda adds $800 to the MSRP for the SE and VP Pilots. This allows the SE or VP packages to be residualized, and in turn give you a lower monthly payment.
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    beesmombeesmom Member Posts: 5
    Well, thanks to you guys I am driving around in my new, very shiny, black pilot.

    Dennis and all--many thanks--I only had one local dealer that gave me the good lease (I learned about here--and yes, I believe it was based on a person who leased in Mass--perhaps the Boston dealer)

    I am happy to share numbers if anyone is interested. I posted them awhile back when I asked if it was a good deal. My lease payment for a (very shiny) 2008 SE (36K, 3yrs. etc) is $342.00. I live in Ky and the dealer is in the Louisville area.

    Everything went smoothly. They even brought in a black one for me. They only had silver ones on the lot and I've been driving silver cars forever.

    The only bummer was they wanted to add in the "protection package" at the end (pinstripe, mud guards, etc.) I made a face and ended up with "free" mud guards and pin stripe but no rubber mats. I guess they have to do something interesting and unexpected at the end or they wouldn't be car salesmen. :P

    Many thanks to all here--you really helped! :)

    Beesmom
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    arob1arob1 Member Posts: 67
    That's look like a great Deal ! Does that $342 includes taxes. How much was the selling price of the Pilot.

    Again Congratulation on your new ride...
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    cjkbme2wcjkbme2w Member Posts: 82
    Here is the lowest price from these two dealers.

    Thank you for your Internet purchase request on the 2008 Honda Pilot VP 2wd. My name is Dan Pio and I am the Internet Sales Manager at Rossi Honda. Our March and April Internet sale price for this vehicle is $23,131 which includes the $635 destination charge. Great news! With this price we are also offering 0.9% financing for 36 months and 2.9% for 60 months to customers with qualified credit.

    First, is this a good price for the vehicle. Secondly, how much can I expect this price to rise when I say that I want to lease instead.

    Craig
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    cjkbme2wcjkbme2w Member Posts: 82
    I don't think that I can combine dealer cash with the low interest rate, so I am more
    interested in using this sales price to negotiate a price for the VP lease. What would be the best way to approach it at this point.
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    bigdadi118bigdadi118 Member Posts: 1,207
    Thank me? No thanks. Congrats!

    No Floor Mats?
    Now you can find custom-fitted floor mats, I personally think they are the 2 best, like weathertech and huskies at www.autoanything.com
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    bigdadi118bigdadi118 Member Posts: 1,207
    cjk - compare the dealers lease with leasecompare.com and click the 3 leases at bottom of page and check their miscl fees. Now you are more prepared and equipped with better lease knowledge to negotiate a deal in your favor.
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    cjkbme2wcjkbme2w Member Posts: 82
    I just got a quote from a dealer in Bel Air, MD, called Schaefer & Strohminger for

    $23,860.87
    2.9% financing for 5 years (or 0.9% for 3 years)

    for the VP 4WD

    There are no taxes in DE, so this is without only title, reg and doc fees.

    Is this a good price?
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    swampdragonswampdragon Member Posts: 35
    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
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    cjkbme2wcjkbme2w Member 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 leaseguide.com 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.

    Thanks,
    Craig
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    cjkbme2wcjkbme2w Member Posts: 82
    What was your Base Cap Cost on this? It seems high.
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    cjkbme2wcjkbme2w Member 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.

    Thanks,
    Craig in DE
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    swampdragonswampdragon Member Posts: 35
    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.
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    bigdadi118bigdadi118 Member Posts: 1,207
    BRAND NEW2008
    PILOT 2WD EX
    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???
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    kyfdxkyfdx Moderator Posts: 237,185
    My question on 50% res : is it based on MSRP or Selling Price???

    MSRP

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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    bigdadi118bigdadi118 Member Posts: 1,207
    Thank You :) and it's good to know.
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    swampdragonswampdragon Member Posts: 35
    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?

    thanks
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    bigdadi118bigdadi118 Member 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.
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