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Honda is currently providing $1,500 dealer cash on this truck.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The $1,500 dealer cash is the only cash incentive that I am aware of on this truck right now.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new Pilot.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
That is very helpful. Just a quick follow up, is the residual value any different for 12k instead of 15k. Also based on these numbers how do I calculate the monthly payment?
Thanks again for the forum and your expertise.
36 mos.
15,000
MF 0.00151
Residual 48%
No Money Down!
$499.00/mos.
Thank You,
Scott
2009 HONDA EX-L 4WD--PRICE $31,000
36 MONTH LEASE $499.81 PER MONTH TAX INCLUDED---DRIVE OFF $875.95---RESIDUAL $17932.50---Thanks
Thanks in advance!!
- Dan
I would be going to dealers in Suffolk and Nassua counties.
I just returned from a Honda Dealer in the City of Chicago. I am looking for a base model pilot and want the monthly as low as I can get it w/o getting killed out of pocket. They is a national lease offer for an LX with AWD with no capitalized cost but $379.00 at signing and $379.00/month. This seems too high. The invoice on this car is $26,500. What should I be looking to value the car at to determine if this is a decent lease? the residual would be like $15,581.00. If I pay the taxes, title, etc. up front shouldn't I be able to get this car for less than $379.00/month? What kind of monthly payment would reflect a fair or even good deal on this car??? I am new to the game and really need some advice.
Thanks.
Give them a call or send them an email and they will provide a very competitive price. If you shoot me an email I will be more than happy to provide you with a name of a salesman I have worked with in the past.
What is best deal anyone has received ? with ZERO down (only tax, aquistion, and doc fees up front) ?? would love to know if anyone has done this same exact deal and what was the lowest montly payment they were able to negotiate ??
I got a quote of 499.00 for the exact specs you are looking at. What did you see?
MSRP 32,765
Price after discount is 28,765
36 month lease,
2000 down payment
406$ monthly.
12,000 miles/year.
money factor - .00151
Residula vaue 50%
This is the first time trying tolease no sure how to reduce the monthly payment. Would appreciate inputs !
If you can get a sale price of $31,000 and get a 72 month bank loan for $30,000 at 6.59% (average bank rate), your monthly payment would be $505. After 36 months you would owe $16,058.81 on a vehicle with a 36 month residual of $17,750. So you would be well over $1,500 in positive equity. WHY THROW AWAY $18,000 in lease payments???
If the ad says $0 down or trade, that means the special is good only by taking NO TRADE, very tricky. I don't understand it as they can make more money with taking the trade-in, but that's what they told me before, no trade in order to take this special deal.
1. more money down (not advised)
2. larger dealer discount
3. less annual mileage (although honda doesn't publish 10k annual mile leases)
in your case, i'd wanna' see if the dealer(s) you're shopping will increase your discount, so you can put down less money. $2000 drive offs is kinda' high for a pilot. drives should be somewhere between $750-$1500 depending on dmv fees and whether or not you pay the lease acquisition fee upfront ($595), and/or if you're in one of those wacky states where you're forced to pay sales tax upfront.
use that $1500 dealer cash to it's full advantage; meaning, try to get it all! god rule of thumb on 36 mo leases - for every $100 you get the dealer to knock off, assume ~$3/mo in savings on your payments.
the key to an attractive lease would involve a high residual value (set by the bank), a low money factor (bank has a base rate, but dealer can mark up), and an aggressive selling price/capcost. in your case, the residual and money factor are as good as they can be. the selling price is very good, but definitely a little more money on the table tow work with. sometimes, 2 outta' 3 ain't bad.
Based on all my work - i would think I can get 470.. a mnth - its quite aggressive but i think doable.
Also, the guy a few posts up said "Ways to lower your payment" and listed LARGER DEALER DISCOUNT as a tip. Good luck. These Honda dealers think their vehicles are made out of solid gold. Not much negotiating room at all. Best way to lower your payment is to shop a different brand OR BUY like I've been saying all along. Honda and leasing should not even be allowed in the same sentence.
After searching all day for a certified pre-owned Pilot, we decided that leasing an 09 might be the way to go to keep the monthly in our budget. Our last stop of the day, we discussed with the sales manager $3000 down and $320/month with 15k miles annually. Sounds like a good deal to me....too good (they had $399 offer on the windshield).
I'm hoping to finish this off tomorrow, but have no idea what to look for in the lease agreement. What should I look for in the contract...are there catches or concerns, or will it be pretty straight forward? I expect him to come back at $350/month. I've researched a bit tonight, but the money factor is new and confusing to me. Any help and/or solid advise would be greatly appreciated.
Thanks,
CP
1. The obvious, such as cost of the car, money factor, residual, etc.. You can cruise the rest of the forum to understand what these are.
2. Taxes. Are you getting taxed for the whole amount of the car? or just the monthly payment? Plus are the state/dealers fees clear and legit?
3. Allowances (mileage, damage, penalties).
I just had Honda's inspector (they outsource to SGS) inspect my soon-to-return 06 Pilot. It still looks great (no dents or bodily damages), and even the inspector said so, but they are very severe with every nick/scratch. Just some chips/scratches on hood and near door handles came out to $1320!!!! A body/detailing shop could have easily fix this for $ 200 or less. Luckily it is still within the $1500 allowance from Honda.
I can't help but think the high estimate is Honda's way of trying to extract more money from expiring leases, or a way of getting me to buy/continue leasing this, or another Honda vehicle (since they will often overlook penalties if I buy/lease another Honda).
Anyhow good luck on your new lease.
09 EX L FWD
$389 with zero down, 12k mi/yr, 3 yr lease
$399 with zero down, 15k mi/yr, 3 yr lease
if you put 3k down and you lose them all if your car is totaled, so no money or low down are better.
He said in his first post selling price was $31,000 so yes adding 7% tax your loan would be $33,170 HOWEVER he also said $875 due at signing which I deducted off the total. Thus, the loan becomes $32,295, at 5.49% (CREDIT UNION RATE) for 72 months your payment would be $527. My point wasn't why people would lease rather that it was financially ignorant to lease a $35,000 Pilot for $500 when you could buy it for $20+ more.
Also, later posts said $500 with $3,000 down. Again, add the $3,000 to sales tax and you are back at below $31,000 loan amount. It would therefore be $520-ish.
Why do people live like paupers, house is a dump, old clothes, junker car and then when they die the kids split up 500k in the bank and in the closet? Happens all the time. They drive corvettes to the funeral. What a world.
$28,599 price
$2,699 down
$399 / month (that's after tax)
12,000 miles a year
0.00151 money factor
52% residual
Any thoughts? I might pull the trigger on it if not. I'm in the state of Washington.
Is the $28,599 the Net Cap Cost? (Sale Price plus fees minus down payment)
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 that is currently available on it into account.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Had my numbers all worked out with the dealer, but spoke to them today and they now say that there is no more incentive on the Accord and the Pilot incentive dropped!
Oh Boy this may be a deal breaker!
Can someone give me the current incentives on the Pilot Touring and the MF and resid for 36 months?
Any help would be appreciated.
Thank You,
RL
This seems like a good deal but does anyone pay less for this model? It is one step below the Touring edition.
Your help would be greatly appreciated. Looking to get one soon. Tnx
I paid $2000 at signing (including first month), and I'm paying $385/month (including tax).
Im in Miami, Florida.
Any tips or suggestions?
Carman can give you the lease rates but personally I don't think you should spend anymore than 350-400 per month on any $30+ vehicle. Just my opinion based on my credit and personal financial situation. The resale value is to good on Hondas.
The 2009 Accord's lease program and dealer cash are the same in May as they were in April as well. The only difference is that there was a volume-based dealer stairstep program on the Accord in April that is no longer available, but chances are most consumers were not aware of that program anyhow.
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Pilot Touring 2WD without RES with 15,000 miles per year are .00151 and an ugly 44%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Honda is currently providing $1,500 dealer cash on this truck.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum