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Honda Pilot Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lincolnroad38. Honda's current lease program on the 2009 Pilot is scheduled to run through the end of June. While it is possible that it will make an unscheduled enhancement to its program prior to then, more likely the current dealer cash and special lease offers will still be around when you are in the market for your truck.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi JM123. Honda's current lease program for the 2009 Pilot is scheduled to run through the end of June. It is difficult to say what it will do with its program for this model after that at this point.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mixenmixen Member Posts: 11
    I am in a similar situation although you are a few months ahead of me. I also have a 2007 Pilot 4wd exl no/navi or RES, but I have about 9 months to go. My payment is $390 per month for 3 years with 15k per year and about $600 paid at signing (1st month and registration fees). I think that the price you and I paid was a pretty good deal. I am happy with the Pilot but I am leaning against buying the car at the end of the lease. It is my first Honda, and I think it is a solid car, but I just have a real problem paying $21,000 for a 3-year old car when for another $10k you can get a brand new one. In addition, the sales tax on the used car is not deductible, but the sales tax on the new car is. I would be interested in another lease as long as the payment is less than $400 per month (with $1000 max down), but based on what I am reading above, that does not seem possible. I just don't understand why the lease prices for Honda are so high given that interest rates in general are at historic lows and Honda's credit unit is not being devastated like GMAC and others.
  • 2007hondapilot2007hondapilot Member Posts: 9
    Mixen- We only have about 28,000 miles on our pilot so I will probably just buy it out from the lease and pay cash. I am just tired of monthly payments. I did this with my toyota truck and just sold it after 10yrs and got 6500.00 back in my pocket from the sale. I paid 20K for the truck so after 10yrs and 165K miles I only had $15,000 into the truck or $125.00 a month without interest. So in 7yrs with the pilot it will still be worth $8-12K depending on the mileage so its not like I am paying $21,000 for it right? More like $10-15K plus my 384 payment at $14K for the past 3yrs.. Not bad for owning a car over 10yrs.
  • mixenmixen Member Posts: 11
    Driving a car for 10 years is almost always cheaper than leasing, so I would not fault you for going that route (pun intended). However, your calculations become much different when you factor in interest -- your $125.00 payment was considerably more. The real question is if you are borrowing the $21,000, what is your interest rate. Conversely, if you have the $21,000 in your pocket and decide to lease instead, where do you plan to invest the $21,000 over the next three years. If you can invest the money at a rate which exceeds the lease factor and accumulated depreciation, then leasing makes more sense. Of course, this is all theoretical, because no one can determine what an investment will look like 3 years in the future.
  • 2007hondapilot2007hondapilot Member Posts: 9
    Mixen- I will be paying cash(check) for the pilot buy out at this point. This will also be the first and the last car I ever lease again. Even with my low mileage requirements leasing still does not make sense unless you want to be stuck with a 400-500 payment the rest of your life. My financial independence is worth more to me at this point.
  • bigdadi118bigdadi118 Member Posts: 1,207
    2009 Honda Pilot

    2009 Honda Pilot 4WD EX
    24-month | 15k miles | residual 57% | .00151 base money factor
    36-month | 15k miles | residual 50% | .00151 base money factor

    2009 Honda Pilot 4WD EX-L
    24-month | 15k miles | residual 55% | .00151 base money factor
    36-month | 15k miles | residual 48% | .00151 base money factor

    2009 Honda Pilot 4WD EX-L w/ RES
    24-month | 15k miles | residual 54% | .00151 base money factor
    36-month | 15k miles | residual 47% | .00151 base money factor

    2009 Honda Pilot 4WD LX
    24-month | 15k miles | residual 57% | .00151 base money factor
    36-month | 15k miles | residual 50% | .00151 base money factor

    2009 Honda Pilot 4WD Touring w/Nav
    24-month | 15k miles | residual 53% | .00151 base money factor
    36-month | 15k miles | residual 46% | .00151 base money factor

    2009 Honda Pilot 4WD Touring w/Nav/Res
    24-month | 15k miles | residual 52% | .00151 base money factor
    36-month | 15k miles | residual 45% | .00151 base money factor
  • glennjrglennjr Member Posts: 37
    The heading says May but did you mean that these are Junes' #'s
  • Hoop1234Hoop1234 Member Posts: 18
    Increase resid value by 2% with 12,000mi...May's #s...probably June's also
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right, Hoop. Honda's June lease program on the Pilot is exactly the same as its May program was.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • amylr130amylr130 Member Posts: 5
    Is this deal even remotely possible?? Below is what I want --but don't want to go to and get hasseled all day if its not even possible to get that payment. :confuse:

    $0 Down
    $390 a month
    Pilot EX-L 2wd
    15,000 miles per year

    Can you tell me what my selling price would need to be and Money Factor as well as the residuals of the 2010's right now. Going to hopefully get one at the end of the month when my BMW lease is up if money works out.

    THANKS!!!!!
  • no_to_cono_to_co Member Posts: 8
    What are the residuals for the 2WD? I'm trying to get a lease on one and with 12,000 miles a year I am being told it's 49% for a 2009 2WD EX. That's 3% less than the 4WD EX. Is this correct?
  • seatlsteveseatlsteve Member Posts: 5
    I am running out of time and trying to make a decision as to whether to buy out my '06 EXL w/Res for $21500 or just turn it in. I know that the bottom has dropped out of the used market, however the car only has 23,000 miles on it and I don't see much out there in that price range with those kind of miles. I know in the booklet sent out by Honda it says there is no negotiating on residuals. Is this the case? Has anyone negotiated a better buy out on their vehicle? I really like the car and thought about leasing another but the monthly payments are so much higher for basically the same vehicle...Thanks for any suggestions!!
  • seatlsteveseatlsteve Member Posts: 5
    Actually just rechecked my current lease and the buyout is actually $19710. The balance was sales tax. That may have just helped make up my mind.
  • Hoop1234Hoop1234 Member Posts: 18
    As of June 11th, the lease you are looking for should be available. Stay with leasing the 2010 vs the 09. Poor incentives on the 09 lease....dealers can't be happy with having to dig themselves out of the 09 Pilot inventory.
  • amylr130amylr130 Member Posts: 5
    Why as of June 11th? Did leases change?
  • fordloserfordloser Member Posts: 9
    If you want to buy yourself more time you can extend your lease with a simple phone call to AHFC. You can extend for up to 24 months under the exact same terms as your existing lease. It is a month to month lease. The mileage is prorated.

    We love our Pilot (2006 EX-L with RES) but the residual is a lot more than the fair market value and Honda won't budge on the buyout price.

    The downside to the lease extension is that we are now out of warranty.

    I am counting on much better Pilot deals in the Fall or Winter with gas prices headed north again and sales continuing to slump.
  • whiplash13whiplash13 Member Posts: 13
    So after much dealing the offer they are giving me in NY is 449/month for 36 months with 12k miles/year with $2000 total due at signing. The sad part is if I would have acted quicker a few weeks back I could have gotten the EX-L with RES for $15 more/month but they sold the 3 they had on hand. Still mulling this offer over as my current Pilot is due back in less than 3 weeks.
  • bigdadi118bigdadi118 Member Posts: 1,207
    Honda site is running 2010 LX AWD special lease on 359/mo...

    If your old car is due back and want to buy more time in order to hunt for great price, you can simply call AHFC to extend your current lease. In the extended period, you can terminate by any month end billing cycle and the mileage is pro-rated. The max time to extend is 2 years.
  • Hoop1234Hoop1234 Member Posts: 18
    The 2010 lease will get better before the 09 lease does. Scrap any thoughts of buying or leasing the 09. Honda released the 2010 Pilot a couple months too early. Extending your lease comes with an unwritten penalty...every scratch, ding..etc..will put you over the $1500 dollar....
  • bigdadi118bigdadi118 Member Posts: 1,207
    Extending your lease comes with an unwritten penalty...every scratch, ding..etc..will put you over the $1500 dollar....

    Do you mean you don't need to pay for these penalty of sratch, ding..etc if you didn't extend the lease? Any expiry of lease has to go through these things. Best is get into the Honda dealer a couple of months before expiry date to have the inspection and evaluation what to expect, then go to body shops to get them fixed in cheaper price. BTW also Honda may also charge on tires and brakes wear, right.
  • iwrite4uiwrite4u Member Posts: 14
    That seems high. I just signed the paperwork to lease a 2009 EXL (Long Island) for $495 nothing at signing but first and DMV -- 36 months, 12k. The dealer told me there is no difference in the car between 09 and 10, but the lease on the 10 was more expensive. I supposedly got the last EXL at their dealership - the few others had RES
  • whiplash13whiplash13 Member Posts: 13
    I should clarify that the $2000 total due includes tax, all the fees and first month's payment. As I mentioned above they offered me the EX-L with RES for $463/month with same total amount due. They only had 3 white cars which wasn't a consideration for us but still a great price considering the deal I ended up with.
  • mikereynomikereyno Member Posts: 8
    We currently have a 2006 Honda Pilot 5DR 2WD EX that we leased in 12/05 for 42 months at $316 a month with nothing down (in central NJ). The lease is up and my wife is debating purchasing this vehicle ($16,853.20) or leasing a new 2010. She contacted her credit union and used car payments would be $400/m. Can we expect better on a lease of a 2010 with nothing down?
  • brunybruny Member Posts: 7
    2009 Pilot EXL AWD with roof rack, upgraded floor mats and ding protection on doors for $474 per mos, 12 mos 12k per year. Nimbus grey. Paid first, plates and docs (?) nothing else. Feels like a great deal.

    Mueller Honda
    Highland Park, IL
  • honda2009honda2009 Member Posts: 30
    We are looking to lease an Ex-L with bluetooth and RES. We'd like to stay aroudn $400 if possible. Is this possible?

    Thanks
  • armjetarmjet Member Posts: 2
    Wanted to thanks all the fellow posters here, you all gave me VERY valuable info for my latest lease.
    09 exl 4wd no res

    MSRP 35965
    selling price 303xx
    36 month 12k lease
    paid 1st and 108 for plates-reg fee
    in ohio, "built in tax on pmts of 6.75%" not sure if uncle sam will let me deduct the 'sales tax' - expect no...

    total pymt 475 *35

    I think I did ok, found deals better by 100's of dollars, but found many more with initial cost of over $700-$1500 -- was hard pressed for blue color, dealer was helpful to get it.

    coming out of a 07 Ridgeline RTS, wow I love the upgrade, and... plus, honda is paying 3 payments on "pull ahead" program, - Current lessees, make sure you ask about it... was a nice bonus on day of sale, when i called to see if i could get "early inspection"

    Again, thanks to all !

    central ohio dealer... what a difference in sales approach/willingness to work between many of them.
  • 4wd124wd12 Member Posts: 5
    My latest offer for the 2010 Honda Pilot 4WD LX - Lease

    36 months
    12,000 miles
    $3700 down(Including tax, title, fees etc..)
    $350/month including tax

    What do you think?
  • iwrite4uiwrite4u Member Posts: 14
    So roughly the same deal as I got - tax is about $1500 in NY, I think. The $495 was by far the best quote I had - most were around $525, but had some as high as $580! Even my dealer was $539 a couple of weeks ago. I think Honda is giving some additional incentive to get rid of the 09s
  • amylr130amylr130 Member Posts: 5
    Anyone get any quotes for 2010 EX-L leases with no money down?
    Curious what payment would be.

    Thanks!
  • glennjrglennjr Member Posts: 37
    Have not seen the residual or MF for the 2010's as of yet. Since the $1500 dealer cash is not available on the 10's i would imagine it would not be an attractive lease right now, even with the higher residual. I got a quote last night on an 09 EXL for $475 with $1800 down, which is insanely high for a $35000 vehicle in my opinion.
  • 4wd124wd12 Member Posts: 5
    I think my deal is definitely a good one - I was talking to a few others I know that just got into a lease and/or were given offers at other dealerships and their monthly wasn't as low as mine.... I guess it really depends on what you want... In addition, my salesman called me up and said they messed up and realized they didn't have anymore LX 2010 models on the lot so b/c of the screw up they are giving me the 2010 Pilot EX for the same price! It's one of the biggest dealerships in the state so I imagine for them it's based on volume and have the leverage to give better deals. The salesman has also been referred a ton of business from me and it was late at night(about an hour before closing) and I know that they were looking to get one more deal in for the day before closing.

    2010 Honda Pilot EX
    12,000 miles
    $3,700 down(including taxes, title, fees etc..)
    $350/month(inc tax) - 36 month lease
  • bigdadi118bigdadi118 Member Posts: 1,207
    Lease Special Offer at Honda website

    2010 Pilot LX 4WD Featured Special Lease
    $359.00 per month for 36 months. $3,199.00 total due at signing.
  • whiplash13whiplash13 Member Posts: 13
    Not reallly total due at signing since it "Excludes taxes, titles and fees". The guy getting the EX at this price is really getting a good deal.
  • l3j4rl3j4r Member Posts: 1
    Just look at a 2009 EXL 4WD for $450 per mth with no money down which included all fees (NC tax at 6.7%). With $1500 down it would be $410 per mth at 12K per year for 36 mth.
  • dsam2dsam2 Member Posts: 6
    Hi
    Im ready to lease a 2010 or 09 Pilot and Any help in Pricing a 3 yr lease on a ex-l w DVD or Touring w/ DVD would be great. If anyone can post or message me where they received their deals that would be great too. Im in the NYC area.

    Thanks!
  • glennjrglennjr Member Posts: 37
    Think the MF will go down in July? Seems to be alot of EXL's left out here in NJ. What better way to move them then to lower the MF. 3.6% financing seems high on a lease. I know when i got my Ridgeline and 4 runner in 2006 the money factor was basically 0%. In doing my lease calculations this is adding $75 a month to the payment. Coupled with the 48% residual (36/15k on EXL) it makes for a mid $400 payment. The leasing game has changed so drastically in the last 3 years. Guess the days of 0 down $325 a month leases on $35K vehicles are in the past. Hopefully there is some more incentive soon as my 4 runner goes back on 7/22!!
  • glennjrglennjr Member Posts: 37
    Dsam,

    Lowest price quote i got on an EXL no RES was $30340 which included the dealerships $99 doc fee. If you add $595 bank fee and $250 (approx) tag/title fee you are looking at a $31185 adjusted cap. Assuming a 3 year 36k lease on the EXL this would bring your pre tax payment to about $440 a month. Adding the DVD DROPS the residual by about 1% and adds about $10 a month to the payment. So I would expect to be around $500 a month before tax on the EXL with RES. Im rolling the dice and holding out til mid July as this seems to much for a leased vehicle.
  • lsnhclsnhc Member Posts: 11
    We really liked the 2010 Touring and were dismayed to find that the lease deals are absolutely atrocious (at least in CT). The best we could do was 635/mo. 42 months with $2000 up front (with alleged Costco . This is absolutely ludicrous. There are very few around and even by the dealer's admission, the leases on these are not competitive. I am what can be described as an "aggressive" car shopper and there was no place to go to get anywhere near what I would deem to be realistic. We opted (with no regrets) for a Mazda CX-9 GT w/nav and sunroof for more than $100 less per month (with a higher sticker!).
  • mem34mem34 Member Posts: 5
    Offered:

    2010 EX 4WD
    MSRP: 33,053
    Neg: 30,500

    Term: 36 mo lease / 12k
    Due at inception: 1st mo, MV fee (NY tax included)
    Mo payment : 490 (MF .00220)

    Lease is up on current pilot next month (this would be our third pilot), but i'd like to see that monthly payment lower (comparing it to our current EX 4WD pilot - 390/36/12 - 1st mo and MV at inception)

    My main question is, in order to get a lower monthly payment, do you guys think i should look for a 2009 (my dealer had no EX's or EXL's in stock), or should i play the waiting game and see if the MF's get better in a month or two? I'd like to score something similar to my current deal. I'd also like to stay with my current dealership if possible, if the deals on the 2010's will get better in say july or august.

    Thanks!
  • bigdadi118bigdadi118 Member Posts: 1,207
    My main question is, in order to get a lower monthly payment, do you guys think i should look for a 2009 (my dealer had no EX's or EXL's in stock),

    My dealer? I think you have more than one Honda dealer within an hour drive to find 2009 models to lower your lease payment.
  • mem34mem34 Member Posts: 5
    Perhaps i should have said my LOCAL dealer.

    Give me a break.
  • bigdadi118bigdadi118 Member Posts: 1,207
    I want to help you to find 2009 EX, EXL. Do you want FWD or AWD, any other stuffs come with like RES, NAV? Give me your zip code, either in post or click my name to email me. How far away are you willing to drive to make the deal? What is your 1st & 2nd color choice?
  • mem34mem34 Member Posts: 5
    Sorry if i sounded snappy. Thanks for the help. I'm looking for AWD, EX preferably with no extra goodies. As far as color, I prefer the Blue.

    My zip is 12601. I haven't gone on the honda website yet to check the 2009 pilot inventory within a respectable radius. I'd like to stay within 50 miles.

    We've had a wonderful experience at our current honda dealer, and I would like to stay with them if at some point relatively soon (say before september), the 2010's become a better deal. They did not have any 09 EX's in stock, aside from the touring.

    However, if the deals on the 2009s would not be matched on a 2010 until this point next year, i'd rather hop into a 2009.

    My sales rep recommended that I extend the lease for a 2-month period, and see how the new money factors play out in the upcoming months.

    We're not in a particular rush right now - we just would like to get the best possible deal. Whenever you're free, let me know what you think.

    Thanks!
  • dsam2dsam2 Member Posts: 6
    Hey how are you

    If you could help me out it would be great too!
    IM looking for a 09 or 10 EX-L with RES (nav opt) or a touring with res 4wd
    White, polished metal or silver. Grey or dark interior

    zip is 11101.. i can drive wherever as long as the deal is worth it

    Thanks
  • bigdadi118bigdadi118 Member Posts: 1,207
    mem34

    you are right, within 50 miles of your zip there're only two 2009 4WD EX but not your choice of BLUE color...

    MSRP / COLOR / STOCK# / DEALER / DISTANCE
    $30,125 / Red / J6958 / Curry Honda Yorktown / 28 miles
    $32,665 / Silver / 90002 / Honda of Watertown / 41 miles

    However there's BLUE one in 77 miles away ...
    $32,765 / Blue / N1896 / Mohawk Honda, Schenectady, NY 77 miles from 12601
  • bigdadi118bigdadi118 Member Posts: 1,207
    dsam2

    Within 50 mi of 11101 ... 2009 4WD EXL w/Res
    White and Silver color with MSRP 37,365 (inclusive Destination Charge)

    $37,565 / White / 20092678 / Huntington Honda, Huntington, NY / 30 miles
    $37,565 / Silver / 20093016 / Huntington Honda, Huntington, NY / 30 miles
    $37,565 / Silver / 290059 / Route 22 Honda, Hillside, NJ / 15 miles
    $37,565 / Silver / KH91232 / DCH Kay Honda, Eatontown, NJ / 32 miles
    $37,565 / White / KH91415 / DCH Kay Honda, Eatontown, NJ / 32 miles
    $37,565 / White / 097188 / Atlantic Honda, Bayshore, NY / 36 miles
  • glennjrglennjr Member Posts: 37
    Feel like i am playing rush and roulette by waiting. Definitely not going to get my color (black) if i wait a few more weeks. Any word of a 4th of July sale? Should be listed in Sundays Paper if there is. Also, do you guys think the residual/MF will change for the worse on July 6th? Best quote i got so far was $30340 which included destination ($670) and doc fee ($99). This still brings me to a $475 lease payment, wanted to be in the $450 range.
  • glennjrglennjr Member Posts: 37
    Sorry, forgot to mention that the quote for the post above was for a 4x4 exl no RES. :blush:
  • dsam2dsam2 Member Posts: 6
    Is that for a 09 or 10?

    Whats the total cost your having to put down? itemized?

    Im looking for a ex-l with res to lease as well. Which dealer is it?

    Maybe we can give him a 2 car deal in the same day if the lease price is right!
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