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Comments
Not only are you getting a great selling price on this truck, but the dealer is using Honda Finance's current buy rate of .00110 to calculate your monthly payment. If you like the Pilot, I personally don't see any reason not to pull the trigger on this deal. This is about as good as it is going to get.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
If you like the truck, I personally don't see any reason not to pull the trigger on this deal. The only thing that I personally would change would be to eliminate the $681 capitalized cost reduction. I always advise consumers against making down payments on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
2009 Pilot EX 4WD
MSRP $32,665
Selling price $27,906
12K 36 month lease
$800 total due at signing
$366 a month including taxes (taxes are 5%, so the payment is about $348? without taxes)
OR $385 for a 15K 36 month lease with taxes
What do you think? Thank you!
The residual value is going to be $16,127. My 36 pmts of $299 would be a total of $10,764.
There is very little reasons to ever put anything more than the security deposit down on a lease.
MSRP $29865
Selling Price $23273
Res. Value 54%
I am so confused and worried about being taken advantage of
Then go over to Edmunds TMV section and plug in your info to see MSRP, Invoice and TMV. Compare your quotes to those numbers and see how you feel.
Lastly, shoot an email to other local honda dealers, tell them you are ready to pull the trigger and to give you their rock bottom price if you come and sign in today. If any of them beat it by more than $500 go back to your dealer and tell him to sharpen the pencil!!!
$247 per month (incl. tax @ 7.75%)
$2688 down (incl. dmv, title, 1st payment & doc fee)
$28265 MSRP (final gross cap cost is $23011)
$21016 cap cost (after reductions)
50% residual value ($14132)
.00110 money factor
36 months
12k miles / year
Let me know if this was a good deal or not, in So. California, or otherwise. I think the residual value is a little high, but the other details look good. How'd I do???
When you lease a vehicle, you are financing the difference between the sales price and the residual value. The residual value is fixed by the lessor, therefore you would want to negotiate the lowest sales price possible in order to decrease the amount financed. Of course, the dealer would prefer that you reduce the amount financed by making a down payment ("capital cost reduction").
Simply stated, your monthly lease payment is the amount financed plus interest, divided by the number of months in the lease.
Anyone else heard this, or is the salesman trying to pressure me into something?
I thought I read that new rates/financing will be released on 1/7. It is a true dice roll on whether this promotion will be any better than what is current.
'Honda Division's 2008 annual sales of 1,284,261 decreased 6.7 percent compared to 2007. Honda Division's December monthly sales of 75,405 represent a decrease of 34.0 percent compared to 2007. Annual total car sales of 794,421 for the Honda Division increased 1.0 percent and set a record for the fourth consecutive year. The division's truck sales decreased by 16.9 percent to 489,840." [The numbers for American Honda Motor Co. are worse because they include the Acura Division.]
Results for the Pilot: down 35.3% in Dec. 08 vs Dec. 07 and down 17.7% 2008 vs 2007 on annual basis.
Therefore, I expect them to continue some kind of incentive program and probably (hopefully) increase it.
I thought the residual was 49% so this seems suspect. There was no mention of dealer cash.
Anyone heard anything different?
When negotiating your lease on this truck, make sure to take the $1,500 dealer cash that Honda is currently providing on it into account. It should help you to negotiate a capitalized cost that's well below dealer invoice.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
When negotiating your lease on this truck, make sure to take the $1,500 dealer cash incentive that is currently available on it into account. It should help you to negotiate a selling price that's well below dealer invoice.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Boch has a banner ad saying 140% of KBB for your trade but restrictions make it useless,
cannot combine with any other offers. Plus when the special calls for $0 cash ot trade, that means the special is good for NO TRADE-IN, thus prepare to sell the old car yourself if want to make a deal in specials with Boch.
www.bochhonda.com > promotion > monthly
The heading said EVERY EX and then at bottom it shows 5 STOCK #. I really don't know what that means.
Lease for only $348/month Pilot EX 4X4, with MSRP of $32,630. Lease requires approved credit; based on 12,000 miles/year, .20/mile excess Lease based on ZERO cash or trade down.
Security deposit waived. $348x39, 51% res. Price excludes taxes, documentation title and registration fee; prices include all customer rebates, promotions and incentives to dealer. Lease #155676
Stock #: 60044, 60045, 60048, 60053, 60056
http://automobiles.honda.com/current-offers.aspx
I am looking for an 2009 EX-L, does anyone having any recent quotes for this vehicle in the Chicago market???
Thanks all..
I did purchase & love my new Pilot...I test drove everything else in the same class & the Pilot blew everything away. Especially with the rebate, I'm very happy with the deal that I got.
Thanks again, Rainee
Sorry to be a pest, but another salesman gave me some information and either I am confused or the sales guy is. As far as lease info on a 2009 Pilot EX-L (no res/no nav) 36month/15K miles:
Money factor .00151
Residual - 49% (When I said 48% - his comment was that was for vehicles with res/nav)?
Finally, is the dealer cash of $1,500 through 2/2 or 3/2?
Thanks car man, I do appreciate your time and energy you devote to this board, and if you can send me an email I would like to extend my appreciation.
Regards-
Golic.
Please check out my post above. Buying and leasing about same - find the lowest price first then figure out the lease + interest + tax per month. In leasing - best is no money down, that you don't lose much if the car is totaled in accident.
I was amazed at the extension of the lease option. I can extend up to 24 months, at the same rate AND I could opt out at anytime. The way it was explained to me is that I can say, yes I want to extend for 6 months, then after two months I can say I am out - and pay no penalty. Or after 6 months i can "extend" one more time for any period of time. The maximum of the extension being 24 months.
The pressure to find a new vehicle has been lifted. I was worried that the dealer could paint me into a box knowing my lease was about to end..but now with this I have some freedom.
If you extend the lease, at what point does the additional sales tax kick in...ie: 120 or 150 days? Also, the vehicle will need to be re-inspected after a certain amount of time and your vehicle is out of warranty. AHFC does allow you to extend "one more time".
That right, lease a vehicle for 30K - pay sales tax on the 30K, then 3 years later if you buy it out at 20K - guess what, sales tax on the 20K.
Yeah, speaking of the inspection people - I just called and cant get it looked at for 35 days. Nice.
As dumb as this may sound, I have been viewing this new lease as a "trade-in" it has giving me some perspective that it is not. The lease of the new vehicle is pretty independent of the expiration of the other.
Extensions
Are there any additional fees if I extend my lease?
Yes, based on the length of extension and the vehicle is registered. The following states are required to pay non-refundable upfront sales tax IA, ME, NJ, NY, ND, OH, SD, VT.
For a leasing question:
Dealer offered a 2009 Honda Pilot 4x4 EX-L 39 months, 12K miles, $1,000 down for $415/mo. I don't know the money factor or the cap cost reduction. Sound like a good deal or based on others experience do you think they can go down further? Thanks for the advice.