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Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.
Car_man
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Honda Finance's October buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L RES 2WD with 15,000 miles per year are .00181 and 53%, 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.
Car_man
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What you heard about Honda Finance's acquisition fee is correct. It cannot be waived, you can either pay it at lease signing or roll it into your truck's capitalized cost.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
What would be the Nov residual and MF for Pilot EX 2WD(36/12000 miles).
Thank you
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
You can scroll back through the past several posts to see what the current program is like on this truck.
Good luck and let us know if you have any other questions.
Car_man
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Last question: how likely do you think it is that the dealer will actually let me use the equity in my '08 VP towards the '11? (roughly $4K)
Meeting with the salesman this weekend...would like to have my plan in hand...
Thanks for your time and advice!
Market Value: 34,775
Sale Price: 31,032
Term: 36 months
Money Factor: .001390
Res Value: 56%
Taxes: 6.5%
Dealer Fees: $902
Down payment: $0
Monthly payment: $483
According to other posts it seems like the residual from Honda finance should be 57%. I could be entering something wrong, but I feel like the monthly payment is just a tad high. I'm in FL if that makes a difference. Thoughts?
Nitrogen upgrade??? for real???
This program is supposedly going to run through the end of the year. I doubt that Honda's January program will be any better than its current one, but it's difficult to say for certain what will happen.
Car_man
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Thanks
Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L with Navigation and 12,000 miles per year are .00139 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Car_man
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I had a brief conversation with my dealer about the next Pilot and mentioned the equity I have in my current model. He pretty much scoffed at me and said they have to 'recondition' my car before they can sell it for 'trade in value'. I have checked various places and it looks like I should have anywhere from $2-6K in equity! But he made it sound like I'll get nothing, and should be glad they'll even take it off my hands.
(I love the car and it only has 25K miles on it... if I didn't hate the color I might even buy it and be done with leasing - I really detest this whole process.)
Anyway, the question is, what happens to that roughly $1,500 in 'forgiveness' for wear and tear that is covered by Honda under my lease? If my dealer spends, say, $1,000 to clean the one back seat that has a water spot, touch up a tiny ding, and put on a set of tires, do they bill Honda for it? Or do they just get a check from Honda for the entire $1,500? If that's the case, shouldn't I then be able to force the equity issue since the cost of their 'reconditioning' is already covered?
any insights would be appreciated...
Honda doesn't give anyone $1500 or a portion to recondition the car... The cars generally go to auction, as is... If your dealer happens to buy the car from Honda, then he'll pay wholesale (which would be adjusted for any major items, like those covered by the $1500).
There really is no "$1500" in actual cash... It's a phantom amount that Honda Finance would forgive, if you actually ran up those charges...
The dealer's argument is that even if they get the car for way less than you think it's worth, there isn't that much profit in it, once they recondition it, etc... They may be right, or they may not want to share that profit with you.. The only way you'll know is to shop your deal around, letting the other Honda dealers know that you want to unlock some of that supposed equity to save money on your next deal...
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Factor was .00139 and residual value was 52%.
Could you please give me the current money factor and residual value for a 2011 Honda Pilot, 2WD, EX-L, with 12k miles, and 36 months? And, how does this change with 15k miles?
Also, what is your sense about which models have the higher residual percents? is it the entry-level models, or the top of the line models with all the bells and whistles? Does this roughly track real-world value at lease end?
Thanks in advance for your advice! I'm so glad I found this forum -- it really makes this whole process a lot more transparent.
DK
Honda Finance's November buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L 2WD with 15,000 miles per year are .00139 and 54%, 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 is 2% higher.
While this can vary from vehicle to vehicle, typically the less equipment a vehicle has, the better its residual values are.
Car_man
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Could you please give me the current December money factor and residual value for a 2011 Honda Pilot, 4WD, EX-L RES with 12k miles and 36 months through Honda Financial Services?
Thanks so much in advance for your response!
Here's the best part: My 2008 Pilot EX-L was worth more than my res value of 18062.00, so I got a check back for over 5000.00!
I had to work for this deal. My local Honda dealer wouldn't budge on giving me what I wanted for my '08 Pilot. They would only go to 22500.00. I searched online for other Honda dealers within 50 miles of me and started making calls and searching dealer inventories. Here is what I found MOST helpful: If you want the most for your trade/buyout, search dealer inventories for like mileage and year cars. See what they are selling them for and how many they have. The dealer I ended up going to, had no '08 Pilots on the lot. When I called them, the used car manager jumped on a deal. I only had to drive about 40 minutes away for an extra 1000.00! (I went to Fayette Honda in Uniontown, PA)
I hope this helps more people get good deals. Good luck all
Car_man
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Dropping to 12,000 miles per year raises vehicles' residual values by 2%.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Dropping to 12,000 miles per year raises vehicles' residual values by 2%.
Car_man
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just looking for advice on the lease offers made to me.
2011 EX-L 4WD
36 mth / 12,000 / negotiated sales price of $32,308
$2,000 down
$475 per month
$20,733 residual
money factor .00255
are these #'s correct for that payment, using Edmund's calculators, I receive a lower monthly payment...he did mention a $595 acquistion fee.
other option:
42 mth / 12,000 / negotiated sales price of $32,308
$2,000 down
$438 month
$20,006 residual
money factor .00245
again, I receive different payment amounts when I run the calculators then what the dealer provides me.
thanks
No trade in, earlier in the process I was told $171 for title and registration fees when purchasing, so I assume that is the same.
where should the tax show up? It's in the monthly payment, correct? And what is the amount used for PA - is it 6% still for lease or is there a different number to use?
because of my credit scores, does that raise my money factor? I noticed another lease posted here was .001xxx
Can you tell me if these are good numbers?
2011 Pilot EXL-Res
$2800 down (Includes first payment)
$425 a month for 36 months.
Residual at end of lease is $21,100.
Dealer is stating that the Sticker price is $37,975, We are paying $34,325 ($37.300 with tax) and the Dealer Invoice is $34,715.
Thanks for your help!
Would the numbers be the same for the 2WD version?
Thanks
Can you post MF and residual rates for touring, 36mo/10K?
Thanks
12,000
RV-57% of MSRP
MF-0.00139
I hope this will help.
Car_man
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