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Honda Pilot Lease Questions

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  • nckitnckit Member Posts: 1
    Hi Carman, I want a 36/15,000 lease on a 2010 Pilot EX-L 2WD (NO Nav or Ent.) - have a $7,000 Toyota 20002 Limited Highlander 2WD trade and 780 credit. Why can’t I get a payment under $400? Was told by the local Honda dealer that “Special Leasing” ended Jan. 31. BTW the fact that a SUV at this level requires running boards and crossbars as add-ons is making me steamed. Honda is acting like it’s raining Toyota customers, and I would still much prefer getting a 4Runner if I could find one with a 3 Row. Nissan is giving crazy good incentives offering 2WD LE Pathfinders for $369. What’s up with incentives and Honda leaseing?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nckit. What you were told is incorrect. Honda's February lease program for the 2010 Pilot is exactly the same as its January program was.

    Let's crunch some numbers and see what sort of payment the truck that you are interested in should have right now. According to my calculations, if you were to lease a 2010 Honda Pilot EX-L 2WD that has an MSRP of $34,555 and a selling price of $31,868 ($500 over dealer invoice) through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $492.

    I worked up a zero down lease for you because it is not a good idea to make a large down payment when leasing. Consumers who make one risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. There's nothing wrong with trading in your Highlander when leasing a new Pilot, just have the dealer cut you a check for any equity that you have in it rather than using the proceeds as a capitalized cost reduction for your lease.

    If you really want to put the $7,000 grand down, it would drop the Pilot's payment to around $285.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • msianamsiana Member Posts: 1
    edited February 2010
    Hi Car_man,

    Returning our 2007 Odyssey looking to get a 2010 EX or EXL Pilot 4WD.

    Hoping for 3 years and 12,000 per. Can you please tell me what is a reasonable deal? (no money down, or a small amount)

    Our lease is up Feb 24. Please help!

    Thanks,
    Michael
  • maxlevmaxlev Member Posts: 85
    Hello Forum,

    I am researching an EX-L 2W (No NAV) and plan to lease for 36 months with 12000 miles per year. I think that the MSRP is just south of $34,000. I got one quote from a dealer (based on just first payment and tags down) at around $600/month. I didn't press because I was not ready to make a deal. I know this was their first offer and that the first offer is always their "homerun" but, I'm thinking that this is a bit ridiculous knowing that I can get a Lexus RX350 which carries an MSRP of $41,000 for a payment of little over $500 per month. Anyone have a clue as to how low I can get this model down to? Is there any chance of getting a payment in the low $400's?

    All insight appreciated. Thanks!
  • greencardwpbgreencardwpb Member Posts: 20
    edited February 2010
    Hi Car man,

    I appreciate your posts and have found them very informative.

    I am looking at 2010 Pilot 2WD Touring with Navi & RES. The dealer threw a bunch of crazy numbers at me which I know aren't realistic, but before I go and start to work a deal, I was wondering if you (or anyone else) knows what the residual value of this vehicle would be at 36, 39 and 48 months, and what the associated money factor would be. Also, what do you think a good selling price for this vehicle would be?

    Thanks.!
  • BullGator1BullGator1 Member Posts: 3
    Car man,
    I'm going to piggy back on Greencard's post here. I have those same questions. When I was at the dealer they had 2 different "prices' for lease vs finance. I know you always recommend getting price first and then leasing. With that said, I'll await you response to greencard's post. But I also want to ask if I put on additional extras/accessories (ie running boards, 18in wheels, etc) should I expect the residual value/price to go up as well and if so, what percentage of the cost of the accessories should I be looking to maintain. I would hate to add extra's and get nothing in return on the back end. I don't know if I would buy at the end of the lease or not. Thanks.
  • albert72albert72 Member Posts: 200
    edited February 2010
    I got a quote (4WD) on an EXL (no nav or RES) on a 3 yr 36K lease for $599. This was a sign and drive so all fees rolled into the price. $599 included tax of 9%.

    Price was unreasonable so I walked. It is my belief they are driving up the price due to supply / demand. This may change in March when Toyota offers some aggressive incentives which should push Honda and the other mfgs a bit.

    Heard the 2011 Pilot will be out in April / May.
  • woodkinswoodkins Member Posts: 5
    We were quoted $593 per mth for 4WD EX-L on a 3yr 36k lease, sign and drive taxes were rolled into the payments. I was able to negotiate down to $550 per month for the same vehicle.
  • rwright1977rwright1977 Member Posts: 3
    Car_Man -

    We didn't pull the trigger when I wrote last (Sept '09) but we are considering it again. We are still considering the 2010 Honda Pilot Touring w/Nav (no RES) and are in the Chicago area (in the event geography matters). Our parameters:

    36 month/12K miles per year or
    36 month/10K miles per year.

    Can you provide the corresponding MF rate and residual being offered by Honda Finance? It seems like from my reading on the forum that the Pilot can be bought for about $500 over invoice which is encouraging, though Honda's lease support in Sept. '09 wasn't attractive. Thanks for your help.
  • albert72albert72 Member Posts: 200
    Can you say what state you are in and the dealer? Do you think you could have gottent the price much lower on a sign & drive or was the dealer at or close to their floor. $550 is a much better price than I was quoted but it is still beyond my budget.

    Thanks,
  • woodkinswoodkins Member Posts: 5
    $550/month was the final offer as a sign and drive for the 4wd ex-l. I left and there was no follow up etc. My husband went in the next day looking for the same level vehicle & lease situation and they started him off at $600 and he was able to get them down to $559, he then told them that I had been in & they were willing to match the $550 per month. This was from Nardy Honda in Smithtown NY.
  • albert72albert72 Member Posts: 200
    Thanks for the info and enjoy your Pilot.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Michael. Let's work up some sample payments for you and see what we come up with.

    According to my calculations, if you were to lease a 2010 Honda Pilot EX 4WD that has an MSRP of $33,055 and a selling price of $30,513 ($500 over dealer invoice) through Honda Finance right now for 36 months with 12,000 miles per year your zero down, pre-tax monthly payment would be around $428, assuming that you qualify for its top credit tier.

    The payment for an otherwise identical lease of a 2010 Pilot EX-L 4WD that has an MSRP of $36,155 and a selling price of $33,314 would be around $485.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • maxlevmaxlev Member Posts: 85
    Car Man,

    I'm at $485 per month with nothing down on a 2010 Honda Pilot EX-L 2WD. Is this as good as it gets?
  • tex18tex18 Member Posts: 82
    Hello Carman or anyone else who has leased a FWD EX no leather.
    msrp $31,455
    buing price $28,500
    like to know monthly payment
  • hennessycomhennessycom Member Posts: 2
    I got a quote on a Chevy Traverse 2010 ls awd 15K mi/yr, nothing down tax included of $449 a month. i looked on the honda website to calculate a similarly priced (both about $30K) Honda Pilot. Same lease w/o tasex included was $600 a month -- how could there be such a big diff on same price vehicle?
  • eagle40beagle40b Member Posts: 13
    edited February 2010
    Although I recently purchased our 2010 Pilot, I was reading this lease section. My other vehicle is a lease, and my #1 piece of advice is to never, ever negotiate a lease based on Monthly Payments. Once they have you thinking monthly payments, they have you right where they want you. A lease is another form of financing as you "rent" the car for a period of time. Negotiate the Selling Price, AKA "Cap Cost." Read the "Prices Paid & Buying Experiences" section of this forum for your model to get an idea of what people are paying, and then negotiate the Cap Cost once you know what the vehicle you are looking at is going for.

    The Residual Value is set by Honda based on your lease term (how many months/years you are leasing for and the yearly miles allotted for the lease.

    The Money Factor is set by Honda Finance - that's equivalent to an APR.

    Since you're technically renting, adding additional money toward a down payment, AKA "Cap Cost Reduction" is not usually recommended. Mind as well keep your money and put it in the bank.

    Make sure you know what lease terms are available as you are shopping. Like a special financing deal for purchasing, the lease terms are set by Honda and should be the same at all dealers. Research these terms (residual value, money factor) and start negotiating your Cap Cost (purchase price).

    Then use a lease calculator such as this one :
    link title

    Plug all the figures in a lease payment calculator before you head to the dealership and you'll know your payment. Enter in some figures in a range you are willing to pay for the car (Cap Cost) and write down the resulting monthly payment amounts - that way when you're at the dealer negotiating, you'll know what your payment should end up being. If they're telling you it's a higher monthly payment, (and assuming you plugged in the correct figures), you'll know if they're not being honest with you.

    Good Luck.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks greencardwpb. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot Touring 2WD with navigation, RES, & 15,000 miles per year are .00175 and 47%, respectively.

    You really don't want to lease this truck for longer than 36 months because that is the longest that its special lease program is available for.

    If I was in the market for a 2010 Pilot right now, I personally would shoot for a selling price of $500 over dealer invoice.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi BullGator1. I'm not sure of Honda Finance's exact policy on this matter, but banks usually allow the full residualization of any factory-installed options, but not dealer-installed options. If you cannot residualize the running board, etc that you are interested in then you would have to pay for the full cost of the options over the life of the lease.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome back rwright1977. Here's the latest. Honda Finance's current buy rate lease money ffactor and residual value for a 36 month lease of a 2010 Pilot Touring 4WD without RES with navigation and 12,000 miles per year are .00175 and 51%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    I don't believe that Honda Finance offers 10,000 mile per year leases on Honda division vehicles.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • laxmom23laxmom23 Member Posts: 1
    Hi Car man, I want a 36/15,000 lease on a 2010 Pilot EX or EX-L 4WD (NO Nav or Ent.) - with crossbars and running boards. A dealer called me today to tell me that the dealer incentives were increased either yesterday or today. My sales tax rate is 8.5%. If I put 0 down what would be a good payment deal be and what would be the residual value on the contract? What if I put down $3,000? I appreciate the help,
    love the picking car part but not the negotiating.
  • greencardwpbgreencardwpb Member Posts: 20
    Thanks for getting back to me, Car_man.

    With the 2.9% financing and a 13 year old who is waiting in the wings for his drivers license and a car, I decided to buy the vehicle instead. I ended up getting the Pilot from Classic Honda in Orlando, FL for $35,090 plus the dealer fee of $599 for a total of $35,689 (plus tax & tag) so this was essentially a $17 under invoice deal and into the holdback. Mrs. Greencardwpb is very happy with her new Pilot.
  • camjw35camjw35 Member Posts: 1
    Hello!
    I am looking to gather info on getting a HOnda Pilot lease soon. I am getting ready to turn in my 2007 Oddsey which is up in June. I would like to get out of that early, maybe April 1st. I had a 15k mile lease on that at as of today I am at 43900. So I will be over on that so if I lease another car i need the 20k lease option. Do you know what price I would be looking at....36 mos...thanks!
  • maxlevmaxlev Member Posts: 85
    Camjw35,

    Honda just released new incentives today on the Pilots. Good time to check them out!!
  • porsche911c4sporsche911c4s Member Posts: 99
    edited March 2010
    Hi Carman,

    Thanks for your continual help! I appreciate your responses to my Pilot and Highlander inquiries.

    Someone posted in the "buying thread" that Honda is now offering $1500 dealer cash for Pilot purchases. Any idea if this would apply to leases as well? It appears from the "deals" listed on the current offers section of Honda's website that the numbers are looking better.

    Thank you!
  • livintheoclivintheoc Member Posts: 58
    Hi Carman,

    Can you provide me with the money factor and residuals for the following:

    2010 Honda Pilot EX-L (2WD) - 36 months, 12K and 15K miles per year
    2010 Honda Pilot Touring (no RES) (2WD) - 36 months, 12K and 15K miles per year

    Thanks,

    LivintheOC
  • gman1957gman1957 Member Posts: 64
    Check with Honda's web page under current promotions.All of your inquiries will be answered. Good Luck.
  • maxlevmaxlev Member Posts: 85
    Livintheoc,

    On and EX-L 2WD 36 months, 12k miles per year, I was quoted $450 per month + tax + first month and tags. At the end of February, the lowest I could get was around $475 + tax + first month and tags.

    Not sure about the rest, but this might give you something to start with!

    Good luck.
  • gman1957gman1957 Member Posts: 64
    Got a price quote for end of term 07 Honda Pilot EXL with Res with 24,900 in exchange for 10 Pilot EXL 4wd (no res) with boards. Sign and drive for $419.00 zero out of pocket.This potential deal is in New Jersey.Can I do any better? The selling price was 33,000. Any replies would be appreciated.
  • wlm2xxxxwlm2xxxx Member Posts: 1
    I was told yesterday by a local Honda dealer that the money factor on 2010 Pilot EX, EX-L, and Touring models is currently .00173, down slightly from .00175 in February. Don't know if that's correct, but very interested to find out for sure.
  • ppierce2ppierce2 Member Posts: 11
    I just received the below information on a 2010 Honda Pilot EX-L 4wd. Before telling you what he quoted me on my monthly payment, i'd like to see what you guys come up with.

    Due at Signing: 1st Month Payment, DOC Fee and Liscense/Title
    Everything else is rolled in. Taxes etc. (Illinois)

    MSRP: $36,155
    Invoice: 32,814.31
    Selling Price:30854
    Residual: $19,885.25
    Money Factor: .00183

    What would be a fair monthly price and do you see any room for negotiations?
  • gman1957gman1957 Member Posts: 64
    $449.00. Please share....
  • ppierce2ppierce2 Member Posts: 11
    He quoted me $505. Not sure how he's getting that but he's about $50 off i'd say.
  • tex18tex18 Member Posts: 82
    Thats an awesome price ppierce2, an EX FWD should go for about $27,500 with such discounting (or at least I hope).
  • ppierce2ppierce2 Member Posts: 11
    Can someone please calc lease payments for me? The dealer is swearing that it should be $505 a month. I sent him my figures of around $465 and he says its not right.
  • hughesrephughesrep Member Posts: 1
    edited March 2010
    I was just quoted 32K for an 2010 EX-L. 36 months, 36K miles, MF of .00173, $17,600 residual, $3500 down from a trade in, taxes and everything rolled into the lease for $388 per month.

    Sounds like a good deal? Maybe too good? The sales guy says the fiance guys say there is nothing else to it.

    FYI this is in New Jersey.

    Edit: This is 4WD
  • sretigsretig Member Posts: 6
    I figured i'd help everyone out with the info on the deal that I just closed. I'm not listing the break down because its easily figured out. However if anyone would like I have created a spreadsheet to calculate what the your payment should be so you can have it handy when your visit the dealer and receive a price. I loaded it on my blackberry and it made me much more prepared when receiving dealer quotes.

    I hope my info helps everyone get the best price as using these forums have helped me.

    2010 EX-L 4WD
    499/m 15k miles

    Out the door 1214.
    First month, Bank and transfer plates.

    -Seth
  • jl49jl49 Member Posts: 33
    I received the following quote:

    2010 EX 4WD
    MSRP $33050
    Monthly payment:$395
    Total due at signing: $2725

    Any advice?
  • porsche911c4sporsche911c4s Member Posts: 99
    edited March 2010
    Hi Jl49,

    I just received over the weekend
    2010 EX 4WD
    MSRP 33050 --> 30,000 - 1,500 dealer cash = 28,500 selling price
    Monthly payment = 410 (everything rolled into payments, 8.125% NY tax included)
    Due at signing = Roughly 650 (1st mo, mv + fees like waste tire fee, etc)
    36mo lease, 12k miles a year.

    A solid deal, and I wouldn't mind paying it, but now I'm thinking a Pilot is too large for my needs at the moment. May go with a Forester. Very little haggling was done. I could have gotten it for a little lower i'm pretty sure

    I think you can do a little better? 2725 at signing seems steep considering the monthly of 395. What was the negotiated MSRP?

    Hang in there!
  • tex18tex18 Member Posts: 82
    WOW!!! $28.500!!!!! For a EX 4WD!!!!!! I want a EX FWD, so maybe I am not dreaming for thinking I could get one for $27K!

    What is the residual value for a EX non leather?
  • tex18tex18 Member Posts: 82
    Ok, carman need your help....Please run the numbers-
    3 year lease
    msrp $31,500
    sell $27,500
    15k miles a year

    Thanks
  • rarefinddrarefindd Member Posts: 6
    edited March 2010
    I was quoted a lease price of $32,620 ( Cap Cost ) for a 2010 pilot exl w/res..4x4
    $4200 down,( OTD )
    $400 a month 36 months, Residual of $20k

    Is this a good price anyone ????
  • gemini76gemini76 Member Posts: 1
    Hi husghes rep:

    I think its an awful deal. Go to www.leaseguide.com and plug in those numbers on the lease calculator. FYI, money factor this months is.00173 and residual is 54% (or at least that's what I have been told by the dealer). If you use your numbers (and 9% sales tax which is what mine is), I am coming a with a monthly payment (including tax) of $334.

    Definitely check out that website and print it out and bring it with you to negotiate. You shouldn't be putting that much down unless you are trading in. Run the numbers with no money down and see what you come up with. It's probably somewhere a bit over $400.00. Hope this helps!
  • vming18vming18 Member Posts: 1
    Hi,

    Can you tell me if this looks like a good deal or not.
    2010 4WD touring with NAV and RES
    $4000.00 tradein
    36 month 12k
    $496.00 month which would include everything except for the registration which I am transferring from my trade in vehicle.

    Thanks
  • jl49jl49 Member Posts: 33
    Thanks for the advice. I didn't get a lease worksheet from the dealer.

    Can I ask you which dealership gave you that offer?

    Also, what money factor and residual were used in your lease calculations - was it .00173 & 54%?

    Thx.
  • starobinstarobin Member Posts: 6
    hi there, please anyone knows the good deal on honda pilot for 2010 in new york city, new jersey and etc.

    We were looking for rav4 this week deal for 179$ per month, but after today's accident with prius again( acceleration pedal issue again), we no longer want toyota, this is not funy already with these same issues. I thought first that it is a politics against toyota, but now I see that it is not.

    So, could anyone help us to find a good deal on honda pilot ( or crv at least), thanks a lot !!!!!!!!!!!!
  • dechodecho Member Posts: 20
    Hi all,
    FYI....We looked at a pilot this weekend (thought it was too big) but the offer was for an EX 4WD was 389.00 with only tax due at signing. No negotiation, signs in the dealership with pricing. 36 minths 12k per year- in stock only...upsate NY...
    New pilot (cosmetic) coming in next couple of months, before summer perhaps.
  • rarefinddrarefindd Member Posts: 6
    msrp $37,755, cap cost $32,620 (this is $2k below invoice )
    bank fee $595, plus tax 7% (modified rate because of lease not purchase)
    otd=$4200 (cap reduction=$3063) dmv,tax on credit ?(what is this) inspection etc came off of $4200 to net of $3063
    anybody signed a contract for a Money Factor of .00174 (mine=.00183) ?
    The numbers add up, dont know if I can get better on lease?
    $397 mo for 36 months, w/ residual of approx $20k
    this is all in NJ
  • rarefinddrarefindd Member Posts: 6
    Sign and drive=lease? OR PURCHASE?
    $33K IS GOOD PRICE THOUGH I BELIEVE
  • rarefinddrarefindd Member Posts: 6
    HEY GEMINI76, WHERE ARE YOU GETTING THIS MONEY FACTOR OF .00173
    RESIDUAL IS FIGURE DEALER SETS AS A ESTIMATE OF VALUE AFTER LEASE. ARE THESE VERBAL QUOTES OR WRITTEN CONTRACTS?
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