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Honda Pilot Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks skizza. 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 2011 Pilot EX-L 2WD without RES with 15,000 miles per year are .00183 and 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical lease of a 2011 Pilot Touring 2WD without RES are .00183 and 53%, respectively.

    Car_man
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  • tex18tex18 Member Posts: 82
    Carman, 55% is higher than old 2010's 50% residual, is that correct? Good news if it is. The EX without leather should have the same numbers right?
  • marcbolanmarcbolan Member Posts: 3
    Carman, I got a lease quote for a 2011 Pilot 4WD EX for 36 months/ 12K miles per year. My quote was $0 down, just fees and $346 per month plus tax. Seems like a good deal, what do you think? Thanks in advance.
  • edriveedrive Member Posts: 3
    edited April 2010
    last week I posted that I got a quote of $473 a month with $2000 down 15K per yr.
    MSRP was$ 37755 Gross Cap cost $34,149 cap cost reduction $968 adjusted cap cost $33181 total number of payment end of lease $17,028.
    Any way its sitting my garage. I think I did ok, the fact is there is a huge shortage of 2010 models. I live on the east coast .Salesman showed me on paper that they were losing $-1945, but that's on paper I guess.? hope this helps someone, but really wanna know if I did OK?
    Carman watcha think? P.S. payment was still $473
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're rght, tex18. The 2011 Pilot,s residual values are around 5% higher than the 2010 models' resids. The money factors for both are exactly the same as well. The main difference between their programs is the $1,500 dealer cash that is available on 2010 models. This cash can be used in conjunction with the special lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi marcbolan. That does seem like an attractive payment. It's certainly a lot lower than the payments were on this truck a few months ago. It's difficult for me to tell if there is any room left to negotiate though without knowing what this truck's full MSRP and selling price are. Let me know and I can give you a more definitive opinion on your deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi edrive. The dealer definitely did not lose nearly two grand on your deal. The dealer invoice price of a 2010 Pilot EX-L 4WD with the entertainment system is $34,260. There is $1,500 dealer cash on this model right now that gets knocked off of that, dropping the invoice price to $32,760. That puts your selling price at around $1,389 over invoice.

    If there is a shortage of 2010 models in your area, I personally would have gone with a 2011 Pilot. Even if you had to pay $1,000 over invoice for it, which is more than I would want to pay, its higher residual values would have yielded a more attractive monthly payment.

    Car_man
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  • kd2000kd2000 Member Posts: 14
    I am new to leasing as well, hoping to get some help here. I am looking into possibly leasing 2010 or 2011 Honda Pilot EX-L 4WD with RES with 12 or 15k miles /year. Honda has a 0,0,0,0 program, not sure if it applies to Honda Pilots as well. As I understand that cap cost is actually the selling price of the vehicle and needs to be negotiated regardless of purchasing or leasing. What is residual and money factor I should be looking for this deal ? With the 0 down program what am I expected to pay ? Any origination or doc fees etc..? Do I have pay any fees when returning the vehicle ? Is there any wear and tear insurance or premium ? Thank you.
  • mdb328mdb328 Member Posts: 1
    Hi Car Man - Great forum just what I was looking for.

    I was in a dealer in Chicagoland today going over numbers for the 2010 EX-L and they came up with the following.

    Selling Price $31,778, Acquisition Fee $595, Tax $2,315 giving a total Net Cap Cost of $34,688. They want 35 payments of $505.59. They pay the first payment hence only 35 they also pay $363.38 for tags and title. The residual is 55% MRSP at $19,885.25 and the money factor is 0.00173.

    Questions, does this look like a good deal and is it ok for them to put the tax in the Net Cap cost?

    Also I am a bit wary about the contract terms regarding wear and tear. It states that even paint chips are not allowable after 3 years and 36,000 miles is this unreasonable? They were trying to sell insurance to prevent against costly repairs at the end of the lease in addition to the 3 x $500 events allowed in the contract.

    Thanks!!
  • roflkittensroflkittens Member Posts: 6
    Hey Car man!

    Great forums..right up my alley.

    Can anyone help me with the Residual on a 36 month lease with 12K mi on a 2011 Pilot LX 4WD.

    Particularly if you could help me with the equations because there is a good chance we may purchase the car at the end of the lease and we want to make sure we get the overall best value.

    A few more leasing questions if you wouldn't mind:
    1. My insurance doesn't have gap insurance. should i look elsewhere?
    2. should i get gap insurance with a brand new pilot in NYC in case of theft?
    3. how much wear and tear does a dealer let you return a car back with before they start hitting you with charges? (we have a dog...does cloth stand a chance?).
    4. I know dealers make money on trims, should I look for an EX-L just to get a better value for my lease or is it best to lease the bare bones if you may purchase at the end.

    5. I am assuming the residual is negotiable - is this where some dealers are making some ADP?

    Thanks in advance for any help on this.
  • 4jeeps4jeeps Member Posts: 6
    That is a really great price compared to what I have seen. What dealership quoted that price?
  • roflkittensroflkittens Member Posts: 6
    ya i thought so too until I just got the Faxed quote and suddenly the LX 4WD became a LX FWD. This is after email negotiations had that price for a LX 4WD because "we don't have any FWD". The dealer was very careful not to put the quote and the VIN in the same email. This way they could say it was a mistake when I return.

    I'll let you know what dealer it is after I determine that I'm not being shell gamed.
  • hawk600hawk600 Member Posts: 16
    Hi Car Man, thank you very much for your help and I am sorry if I have a few questions.
    I am looking to lease a 2010 Pilot 4wd but they are becoming scarce in my area (NH/MA) and I may have to go with a 2011 instead.

    Could you please provide the money factor and residual for both, 2011 Pilot EX and EX-L models? Lease would be 36 months and 15k miles/year.
    In fact, I am not even sure if I will need the 15k/year because my last lease was returned with 33k miles after 3 years, so I was wondering if you also know how much extra the dealers usually charges for a high mileage lease, because depending on the numbers I better go with the 12k year.

    I've got some quotes over email but they look high (from $480 to $510) and I think dealer is working with MSRP prices. Should I consider your suggestion on post #27500 and try shoot 500 over invoice on a 2011 model?

    Thank you again, your help here is much appreciated!
  • hawk600hawk600 Member Posts: 16
    edited April 2010
    Never mind.
    I closed on a 2011 Pilot EX AWD, 36 months lease, 12k year.
    Payment conditions were: $400 down and 35 x $390. All fees included.
    They also got my 2006 Pilot off my hands for the exactly payoff and that was above the trade in market value, so it worked for me. What do you guys think? Was it ok? MSRP was $33,205 cap cost was $ 30,660 and closed price was $29,750.00.
    Thank you Car Man you put some great and helpful information here!
  • 4jeeps4jeeps Member Posts: 6
    Car man,

    I would still like to get the lease rate and residual on the 2011 Pilot EX 4wd. Still trying to decide if I am getting a good offer with $0 down and $440 per month 36 months, 12,000 miles.

    Thank you very much!
  • couggatorcouggator Member Posts: 4
    I'm sure these have been posted many times but I'm trying to make sure I have the most up to date lease numbers. If anyone has these I would appreciate it. Also, I hear there is a $1500 dealer incentive. Is that correct?

    2011 Honda Pilot 2WD, 12K miles
    EX-L w/Res
    - Money Factor
    - Residual
    EX
    - Money Factor
    - Residual
    LX
    - Money Factor
    - Residual

    Thanks!
  • marcbolanmarcbolan Member Posts: 3
    edited April 2010
    Just to give you an update. The dealership that quoted me at $346+ tax was a joke, they ended up saying it was a computer error that was computing a 2010 and tried to drive the payment to over $400/month. In the end, I picked up a '11 EX 4WD today at a reputable dealership and it ended up being $1512 out of pocket (which includes first month) and payments are $358/month for the remaining 35. I think I got a pretty good deal.
  • daveasimosdaveasimos Member Posts: 2
    Hey Carman,

    I would like to thank you for taking your time to help all of us first.... Thank you!
    Second.. I have a quote on a 2011 EX-L Bali Blue with Navigation, let me know what you think.

    Selling price (through TrueCar) 33,166
    Acquisition Fee & Gap ins. 595
    Tax in PA 8% 2700

    Residual is 53%
    and Money Factor is .00183

    Please let me know if this is a good deal. He tells me they are losing 800.00 on this deal, But he says its $ 560 a month ...seems high to me.

    Thanks in advance for all your help..
  • hawk600hawk600 Member Posts: 16
    edited April 2010
    Thank you for the update marcbolan and sorry to hear about your bad experience.
    I can tell you that most of the decent quotes I had on a 2011 EX, were in between $410 and $440. Honda North in Danvers, MA, was the only one that quoted me bellow $400, so, they got my business.
    The good part is that you are all set now with the new ride. Enjoy it!
  • avalon2000avalon2000 Member Posts: 25
    If a 4WD and for 36 mo., my calculations based upon your numbers, and a retail of $38,305, say that you should be paying $510.62 @ mo. incl. all taxes, and $595 fee is rolled into lease.
  • coco19coco19 Member Posts: 2
    Hi....been looking at leasing the honda pilot 2011 EX-L with RES in Penna. Received a price for 36 mo. lease, 12k per year, $250 down payment for a total of $500 per month (that includes taxes). Price they are selling/leasing it to me for is $34,200. Is this a good deal? And, are there any dealer incentives out there for 2011 honda pilots? Thank you in advance........
  • robby1234robby1234 Member Posts: 5
    Carman,

    I got a quote for a 2011 Honda Pilot EX-L lease for 415.00 / month for 35 months for 36/15k miles? includes tax, tag, etc. 0 out the door in South Florida

    I have been looking throught the forums and the lowest I saw including tax was about 430 for a 2011 Honda Pilot EX-L?

    What are your thoughts?
  • tex18tex18 Member Posts: 82
    edited May 2010
    Thats awesome price Robby. Are you sure thats for an EX with Leather? Again thats an aweosme price.
  • robby1234robby1234 Member Posts: 5
    yes - closed on it . White, 2011 EX-L 415.00 month 3yr/15k yr incl tax tag, title, etc. 0 down, 35 months. Dealer happens to be Coral Springs Honda, Fl.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kd2000. You're right, consumers definitely need to negotiate the selling prices of leased vehicles.

    The sign and drive promotion that Honda was providing in April is available on the 2010 Pilot. Honda's April programs are scheduled to run through today, May 3rd. I will provide you with information on what the April program is like for now. Let me know if you're interested in what the May programs are like and I'll stop back and let you know as soon as I've had a chance to take a look at them.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Pilot EX-L 4WD with RES and 15,000 miles per year are .00173 and 52%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    I would be happy to work up a sample payment for you if you provide me with the MSRP and selling price of the specific unit that you are interested in.

    You don't need to pay extra for excess wear and tear insurance. Honda Finance automatically waives up to $1,500 in excess wear and tear on leased vehicles.

    Consumers are required to pay a $595 acquisition fee on Honda Finance leases, but I don't believe that it charges any disposition fee at lease-end. The doc fee is between you and the dealer.

    Car_man
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  • gman1957gman1957 Member Posts: 64
    edited May 2010
    Hey Car_man....

    Finally leased 2010 Pilot EXL w RES along with Boards selling price of 32,376.00
    I just paid the taxes and all inceptions fees upfront for 3yrs / 12,000 Can you guess what should I be paying paying a month. I lived in NYC.

    Gman923
  • alartialarti Member Posts: 8
    Hi Robby1234,

    I have a couple of questions about your transaction. Please contact me directly if you would be so kind.

    Regards,

    alarti
  • andmilairandmilair Member Posts: 6
    Does anyone know what the current (as of May 5th) money factor and residual are for a 2011 Honda Pilot Lease of 3 years and 12,000 miles per year.
    Trying to figure what the monthly pmts are on a 4WD Touring w/ RES before I talk with the dealership.
    Thanks for the help……
  • andmilairandmilair Member Posts: 6
    Went to Honda last night Suffolk County Long Island NY and was quoted a price of $550 per month for a 2011 Pilot 4wd Touring with RES, 3 years / 36K miles. Just need to pay taxes and bank fee upfront. Do you think there is any more room in the monthly payment???
  • woodkinswoodkins Member Posts: 5
    I am also in Suffolk Cty and I am leasing the 2010 model (we leased in Feb prior to the 2011 models coming out) for $550 per month including the taxes (rolled the taxes into my payment) with no bank fee (they waived it for good credit). We walked out the door only paying our dmv fees. There is definitely room in there since we are paying the same monthly payment as you with our taxes included in that amount.
  • AXM23AXM23 Member Posts: 64
    Robby,

    Can you let me know where you got your deal? I think it is a great deal.

    axm23@yahoo.com

    Thanks
  • krt3krt3 Member Posts: 5
    Hi Car Man,

    I'm looking at possibly leasing either a 2010 Pilot Touring 4WD w/ NAV or a 2011 Pilot EX-L 4WD w/ NAV. I would want a 10,000 mile, 36 or 39 month lease. Could you provide the money factors and residuals for both of those cars?

    Thanks!
  • kd2000kd2000 Member Posts: 14
    Thanks Car man. Ended up buying instead of leasing. Got the 2011 EXL 4WD with RES for $34k + TTL @ 4%. Hope it was good price. For leasing everything was as you suggested. They were offering 57% residual for 12k miles. It was quite attractive. But the better half wasn't too excited about leasing so ending up purchasing it.
  • hondafan14hondafan14 Member Posts: 23
    Not sure about what you leased for but I leased at the end of April, 2011 Pilot EX-L with RES for $435 / month with total $1500 out of pocket which includes first month payment. Its 12k / year.
    Hope this helps someone. I 'am in NJ.
  • sphilip81sphilip81 Member Posts: 1
    Hi All,

    I am thinking about leasing a 2011 Honda Pilot. I have never leased an automobile before, so I am looking for advice on the best way to negotiate (tips, known traps, etc..) with the dealer. I live in NY and have seen lease specials on the Honda website ($309.00 per month for 36 months. $2,999.00 total due). Is this a good deal?

    Thanks,
    Raj
  • coco19coco19 Member Posts: 2
    Would you be able to tell me where in NJ (dealership) you leased this vehicle? ....Thanks so much!
  • pillar88pillar88 Member Posts: 2
    Car Man,

    I would be interested in the same information but for 12,000 mile lease. I live in the DC market. Thanks in advance.
  • gman1957gman1957 Member Posts: 64
    Hey Hondafan14,
    Mine was 1240 total out of pocket which includes first month payment of $429.00.I leased out of NY.Its a 2010 Pilot with RES with the bars on it.I guess you and I did okay. I am happy. Hope you are too.Happy motoring!!!!
  • hondafan14hondafan14 Member Posts: 23
    edited February 2009
    This was at Hamilton Honda in Hamilton NJ. Its was a 40 min drive for me but was worth it. Hope this helps.
  • hondafan14hondafan14 Member Posts: 23
    Hi gman1957,

    I guess we both did ok especially given that in NJ I was getting crazy quotes in mid 500's for the same vehicle. This is my second Pilot. I had a 2007 EX-L with RES and loved it. The 2011 replaced the 2007 which I was leasing as well. Drive safe, enjoy and good luck with the new car...
  • nadarashdannadarashdan Member Posts: 13
    edited May 2010
    Hi, I got an offer today for 579/month including taxes on a fully loaded Touring 2011 with both nav and DVD and anything that is possible to be included in there with 650 down total (I believe that includes first month) 12k miles /year - does that sound decent? Should I bother negotiating anymore? How much lower can I get, if I can?

    I also got an offer on the 2011 EX-L with Nav for 539 a month, 650 due at signing with 12k miles/year - I feel that that offer is a little high. How much lower can I get this?

    Any thoughts would be SOOO appreciated

    Nada
  • andmilairandmilair Member Posts: 6
    Where are you located??

    Is this for a 4 Wheel Drive model?
  • nadarashdannadarashdan Member Posts: 13
    Im in Cleveland, OH and it is AWD not the 2wd.
  • delta737hdelta737h Member Posts: 626
    edited May 2010
    Nada,

    Given just a payment and upfront costs, it's very difficult to judge whether your deal is good or not. I live in Medina where sales tax is 6.5%. You said you're in Cleveland which is in Cuyahoga County (still 7%?). In addition to your sales tax rate, I'll need to know the following....

    MSRP including Destination Charge
    Money Factor with 0% Reserves (0.00XXX)
    Residual Factor (xx%)
    Fund Provider (I'm guessing AHFC)

    Or, you can simply ask the dealer to email you the LEASE WORKSHEET and, then, email it to me at

    diffeq@zoominternet.net

    This speaks volumes and will tell me everything I want to know. Do not let the dealer tell you that they can't provide you with a copy of their lease worksheet because that's baloney. Most dealers are very accomodating and will give a copy if you request it.

    I will create a one-page lease proposal designed to save time, money, and aggravation and, then, email it to you if you like.

    By the way, the fund provider's money factor with 0% reserves is known as the base rate or buy rate and is the lowest money factor that you can get from them. Always ask for the "buy rate".

    John
  • nadarashdannadarashdan Member Posts: 13
    Wowww thanks John those are very technical terms - let me forward you what they sent - that figure is with the 7.25% tax rate - I would love a lease proposal - I have no idea what you are talking about - I am a zero with lease terminology - I basically cut and paste your response and emailed him that . . . will let you know how that goes, and forward you the quotes he sent me.
  • rjazz66rjazz66 Member Posts: 3
    Detroit area:

    $831 out of pocket incl 1st month. $599.00/mo incl tax. 36 mos 15,000 miles/year

    Crystal Black w/ Black Interior

    Lease calculated from invoice price.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello andmilair. Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot Touring 4WD without the entertainment system with 12,000 miles per year are .00195 and 56%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, krt3. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L 4WD without RES with navigation and 12,000 miles per year are .00195 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The numbers for an otherwise identical 39 month lease are .00200 and 55%.

    I'm not sure if Honda Finance offers 10,000 mile per year leases on Honda division vehicles, but if it does they are probably 1% higher than the 12,000 mile per year residual values that I mentioned.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, kd2000. Enjoy your new Pilot :)!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pillar88. Please see my response in message #2800. Thanks.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
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