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Honda Pilot Lease Questions

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Comments

  • clinton2clinton2 Member Posts: 4
    Just leased 2011 EXL 4WD w/RES - traded in my 2008 with one month left on lease...had 45k miles on the truck with a 36k lease so I was well over allowed miles.....18.5 k residual on lease. First dealer said it was worth less than residual and was actually charging me more for lease of new one with the trade in. Went to Carmax - 22k appraisal which exactly matched KBB. Went to 2nd dealer got 21 for trade in so 2500 equity toward new lease with $34,900 out the door price $440 ($410 pretax) mo pmnt for 3 yr 15k miles/yr
  • jeffloanjeffloan Member Posts: 29
    How does this deal sound.
    EX 4WD 36mth 12k, $415 (taxes are included in payment)
    $0 Down, $0 bank fee, $0 Destination fee
    1st month plus DVM out the door.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mattmy. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot LX AWD with 12,000 miles per year are .00145 and 58%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    You really don't want to lease this truck for 39 months because this vehicle's money factor jumps to .00200.

    If I was in the market for a Pilot right now, I personally would shoot for a selling price of around $500 over dealer invoice. You can find the exact invoice price of the vehicle that you want over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mattmymattmy Member Posts: 4
    Thanks. I wound up taking the car for 36/mo; I got a sale price of $27,000 including destination.
  • jdiz3jdiz3 Member Posts: 21
    Hi Carman,

    Do you know the current lease rates for an ex-l w/ nav & awd, 36/15k?
  • carnut12carnut12 Member Posts: 67
    Carman,

    Can you post the march mf and residual for the 2011 pilot lx. 36 months 10k or 12k per year.

    Thanks
  • bizhousebizhouse Member Posts: 8
    Car_man:
    Could you please provide Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot Touring AWD with 12,000 miles per year?

    Thanks!
  • jamz1jamz1 Member Posts: 6
    edited March 2011
    My dealer just asked if I want to exchange my 09 exl w/ res AWD Pilot for a new 11 Pilot with same options and same lease price of $530.00 mo.( my buyout is right now @ $23,000) for 3 yrs. Just trade keys no down pymt nothing out of pocket. I have 10 months to go on my current lease. I was actually thinking of buying my car at end of lease.
  • nygenenygene Member Posts: 11
    What state/dealership is that? a dealer in upstate NY offered me that $532/month with nothing down for EXL / 36 month/ 15miles...but I think you /me can do better.seems like they are not giving you equity in that trade in.

    anyone have good lease rates on Pilot EXL. 36 mo/ 15k miles - better than these?

    BIG QUESTION- my research is showing that the Pilot gets dinged for the breaking distance-- much worse than the CRV, Mazda CX9 and Acura RDX....anyone here had problems with Breaking Distance...too soft?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome mattmy. Enjoy your new Pilot.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go jdiz3. Honda Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L AWD with Navigation and 15,000 miles per year are .00145 and 54%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Bizhouse, Honda Finance's March buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot Touring AWD with 12,000 miles per year are .00145 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • gatorbaitergatorbaiter Member Posts: 20
    Good deal or what? Dealer made offer..I haven't countered yet -

    With both Deals $O down they pay first Paayment..then 35 more.
    and pulling me out 2 months early (of a $405 2008 leased CRV ex-l), as a trade in.

    2011 Pilot 4WD EX-L
    $34,775msrp
    $30,991 TLC discount
    $434 per month for 35 months
    or
    2011 Pilot 4x4 EX
    $33,275msrp
    $29,460 discount
    $399 per month for 35 months
  • jdiz3jdiz3 Member Posts: 21
    edited March 2011
    Hi Gatorbaiter,

    Do you have to pay for fee's up front? And do those quotes include taxes? Thanks.
  • nygenenygene Member Posts: 11
    Gatorbaiter that EXL seems like a good deal. What is dealership? What did you mean by TLC in discount? This is better number than I got from Kingston Honda in Ny. So would like to call your dealership!! Pls let me know.

    Ps-- have you read about the braking distance issues with the Pilot? Not a worry for you that the braking distances are longer than competitors
  • gatorbaitergatorbaiter Member Posts: 20
    Yes idiz3,
    There are no fees upfront - $0 out the door and yes the numbers include taxes.
    Honda has a Pilot Deal now..paying the first payment up to $500/ thus the ;35; payments..(immed ~$ 400 savings as I see it the first month) most area dealers are $15-$60 HIGHER on the same cars... what do ya think.. ?
    If I'm just dropping and driving every 36 months... should I be considering lease factor and residual value.? doesnt seem like it's mattering..
  • gatorbaitergatorbaiter Member Posts: 20
    gene.. I'm pretty sure TLC stands for tender loving care..( actually I'd say it means Terry Lee Corp) since that's the name of the dealer Terry Lee Honda~ INDY. The salsesperson's ccomparing MSRP to the Deal she's offering(yeah 'she') a first for me..
    Braking distance.? maybe But I can't remember ever having to stand on my brakes...when I really needed to...but its a concern...
    Im wondering if the 35 $ mnth extra is worth it for thr EX-L (sunrroof, heated leather/ mirrors is the really the only diff)
  • gatorbaitergatorbaiter Member Posts: 20
    Not bad~ I got the same..but another dealer dropped it to $399..same $0 down '35' months.. They should pay 1st month.. (up to $500) Its a Pilot DEAL till MArch 31st. use $29400 as an EX price ..see what happens...
  • gatorbaitergatorbaiter Member Posts: 20
    Sorry~ jdiz3 ~ see annswer 'above'- lol
  • mrtimothydavismrtimothydavis Member Posts: 3
    NJ "0" out of pocket first payment waived, 464 a month, selling price 32,045.00...What do you think?
  • gatorbaitergatorbaiter Member Posts: 20
    MSRP $34,775 EX-L 2WD
    Negotiated price- $30,245
    Doc fee is $150
    Title fee is and tire tax for new vehicle is $16.25 (15 title, 1.25 tire)
    Aquisition fee from Honda, not the dealer -$595 on any lease
    The money factor is .00145
    The residual is 57% or $19,821.75 to be exact
    The resulting numbers ~ payment of $383.94 plus tax = $410.82
    Honda pays 1st payment, I pay 35 remaining. (this is only available with no equity or down payment)
    This is based on them pulling me out 2 months early @ $400 mnth on my previous CRV lease ~even.

    I think thats a good negotiation ...
  • gatorbaitergatorbaiter Member Posts: 20
    read mine above (or below). i think you could do a bit better -4x4 right?
    gotta play with the numbers.. 36 or 35 months- ? shud be 35.. they have a deal to pay first mnth--- and extra $750 off~ anounced last friday---
  • mrtimothydavismrtimothydavis Member Posts: 3
    It was an EXL 4wd 464 a month all fees, taxes etc rolled into payment. I did a lot of research and only one dealer in NJ was 5.00 lower, Weymouth Honda said they could do 417 and Bobby Rahal said they would match but usually when things seem to good to be true they usually are!
  • gatorbaitergatorbaiter Member Posts: 20
    yeah well my deal IS real.. (if you want the front 2WD- )
    also- it should be a lease for 35 months- ? they have a deal to pay first mnth--- and now ann extra $750 off~ anounced last friday---
    good luck (I'm in indiana)
  • mrtimothydavmrtimothydav Member Posts: 3
    I didn't mean your deal, I was just giving info about my experience along the way to others. In no way was I trying to disrespect your offer....
  • gatorbaitergatorbaiter Member Posts: 20
    hey No worries dude...(not what I meant) Good luck..
  • mrtimothydavmrtimothydav Member Posts: 3
    how does the 750.00 incentive work? Should I be able to get my price reduced if I fight for it...Thanks
  • cyberconcybercon Member Posts: 1
    EXL-Nav - 4X4 $3kdown, $507/mo. in NJ
  • dvakadukedvakaduke Member Posts: 8
    Hey Car Man,

    Can you provide lease rates and residuals for 2011 Honda Pilot 4WD, following trims:

    EX-L
    EX-L w/DVD
    EX-L w/NAV
    Touring

    Thanks!

    Don
  • SFLDealHunterSFLDealHunter Member Posts: 3
    Hi Gatorbaiter, Where was this deal? I am quoting in South Florida. I am looking for an EXL 2WD w/ NAV w/ 15k/yr. The best I have seen w/ $0 out of pocket including tax is $499.91/month. Thx
  • gatorbaitergatorbaiter Member Posts: 20
    My Deal is in INDY.. same car as yours- only no Navi. $499 seams aweful high.? what price did you negotiate? the invoice on that vehicle is $32,061~ msrp is $35,995. check above for 'carman's' money factor and residual on the 2WD w/ Navi ..and use the lease caculator ~ I use this one- to see how all the numbers flow out. http://www.leaseguide.com/calc.htm
    good luck.
  • gatorbaitergatorbaiter Member Posts: 20
    Are you leasing? cause by just imputting numbers into http://www.leaseguide.com/calc.htm
    34550 neg price (500 over invoice)
    using .00145 and 57% resid
    3000 down !!
    $500 in docs- plates- fees (b.s)
    7% tax
    36 mnths
    comes to $398
    $504? sounds high to me¨ unless your buying it.! :surprise:
  • gatorbaitergatorbaiter Member Posts: 20
    edited March 2011
    I just heard about the $750 off from my dealer ...it's a new offer..!! So ask about it..cant hurt.. Comes right off neg price....
  • SFLDealHunterSFLDealHunter Member Posts: 3
    I see invoice of $32,061 plus destination fee of $780 so $33,381. I am getting quotes w/ a selling price of $32,117 once they roll in all fees and taxes the cap cost hits $33,683. They are hitting me w/ a doc fee of $599.95 and a dealer fee of $595. The rest is the tag a license of $371.24. Out of pocket is just 1st month's payment of $499.61. Payment is $471 plus tax of $28. Tax rate here is 6%. Total payment per month for 36 mos is $499.61. The money factor is .00145. Residual is 53%. This is for 15k/yr (not 12k) and for 36 mos. All the math checks out. Boils down to the cost of the vehicle. Dealers here never directly waive their fees. They primarily work on the vehicle price. As you know the residuals and money factor come from Honda Finance. Thoughts? Seems like I need to have a car shipped in from Indy. :)
  • gatorbaitergatorbaiter Member Posts: 20
    edited March 2011
    woah- dealhunter-
    Looks like 3 things...
    1- dest fee $780.. ( mines in there probably¨ but I dont see it)~ that may be the $750 incentive I was offered last min to take the deal.
    2- doc fee ? $599~ thats $450 more than my dealer.
    3- same money factor BUT a residual of 53%(mine's 57%) is a killer-
    and our only diff is NAVI..? right..?
    take out 1 and 2 and up to 57% and your deal should be somewhere like $433.02 ...
    May need to re-negotiate, .. I know you have 15k but the HONDA SPECIAL till mar31 pays the first month ~ so you should have only 35 mnths of payments .. unless I'm missing something big here. I'd say keep looking.
    or come to INDY and I'll try to set you up.!
  • dvakadukedvakaduke Member Posts: 8
    also, i would probably look at a 15k mile lease....

    thanks!
  • SFLDealHunterSFLDealHunter Member Posts: 3
    Dest fee is coming right off Edmunds and I have seen it many times before as an add on to "invoice". I think the residual is because of the 15k (extra 9k of depreciation over 36 mos). The dealer fee must be a sunny South Florida thing. The Honda special is no 1st payment but you do pay taxes, licenses and dealers fees at signing according to Honda's site. So ends up being a bit of a wash compared to just paying 1st payment. I am thinking mine might not be great but not that far off. NAV is the only other difference which is a $2k MSRP premium over a straight 2WD EXL. Thx for the offer to assist in Indy.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Don. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L with 15,000 miles per year are .00145 55%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    The money factors are the same for the rest of the trim levels that you mentioned, but the residual values are 54% for EX-L w/DVD, 53% for EX-L w/Nav, & 51% for EX-L Touring.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • hihosilveradohihosilverado Member Posts: 1
    Hello, I just got a 2011 EX-L 4WD with help from this site. I ended up getting it for $449.53 per month including 7% tax on a 36 mo./15k lease. Here are the specifics:

    MSRP 36,375
    Residual: $20,016
    MF: .00145
    Cap Cost: $32,820 (the $750 incentive mentioned above could have been factored in?)
    Total Due at Signing: $425

    Seems like a lot of vehicle for the money!
  • googgersgooggers Member Posts: 3
    Hello Car man,

    I am hoping you can help with some lease questions about a 2011 Honda Pilot Touring 2WD. The offer I have from a NC dealer I think is way off given that I am putting $6,000 down. Reading previous posts I see the best money factor is 0.00145 (they are telling me 0.00225) and that the money factor doesn't change by term (I am considering 36, 39, 42 and 48 month terms). Can you tell me what the residual value factors are for each of those terms? The dealer is being deliberately vague on the residual value.

    My other question are on the fees they add to MSRP, i.e. destination fee of $780, doc fees, etc... what is a "normal" amount of fees in total? The offer is based on a discount of $3,000 off MSRP.

    With all the above and NC tax rate at 7.25% they are offering a 48 month lease for $453, and I believe it should almost be almost $100 less a month given I am putting $6,000 down.

    All help is greatly appreciated.

    Thanks!
    Googgers
  • googgersgooggers Member Posts: 3
    Hello Car man,

    Just realized I left out one bit of information, the lease was for 12,000 miles a year.

    Thanks again,
    Googgers
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited March 2011
    Hi Googgers. $6,000 is way too much money to put down on a lease. I always advise consumers to put as little money down as possible when leasing. Those who make large down payments risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. It's much safer to go with a zero down lease.

    You are correct about the best available money factor. If your credit is in good shape and you are being quoted a higher factor than that the dealer may be attempting to mark your vehicle's buy rate up to add additional hidden profit to your deal. The .00145 special money factor is available for up to 36 months.

    Honda Finance's 36 month, 12,000 mile per year residual value for a 2011 Pilot Touring 2WD is 53%.

    Everyone who leases a Honda has to pay the destination charge and Honda Finance's $595 acquisition fee. The doc fee is completely up the the dealer. Most dealers charge some sort of doc fee to pad their deals, but some charge a lot more than others.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • googgersgooggers Member Posts: 3
    Your advice and information is greatly appreciated!!
  • purple13purple13 Member Posts: 3
    Hi Car Man!
    What kind of lease should I expect from the Honda dealership.
    Negotiated price for Pilot Ex-L 4WD was 32,300 + 500 for appearance package (??) + 800 destination fee + processing fee (389) + TTL.

    Thank you,
  • texlinktexlink Member Posts: 5
    Car Man,

    Dealing with internet sales guys never ceases to amaze me. I have asked for a lease price with details and they come across like a politician with their answer. Dallas Fort Worth area, my question to them was, I am looking for a 12k mile, 36 month lease for a Touring, (they quoted Internet price - $35,061 + dealer adds + TTL, which includes destination and handling according to him), I also wanted to know the details that make up the lease payment you will quote me (gross cap cost, money factor and residual of the lease, and assume I put $0 down).

    His answer is the advertised lease special on the LX is $350 a month. Every $1000 on a lease is about $35 in your monthly payment. There is a $10,750 difference in price between the Touring and the LX. That is approximately $300 - $310 additional in payment. This is coming from their internet sales manager.

    My calculation on just the base touring with no adds. Using what you quoted earlier for super tier credit is (53% residual, money factor .00145), 6.25% sales tax. I think I have $2500 equity in my trade. Gross Cap Cost 35,312, net cap cost 32,812. 11,837 Depreciation, 2807 rent charge, 915 sales tax = total all payments 15,560. Total lease payment 19,751. Monthly lease 406 + monthly tax 25 = total lease payment of 432 per month, 36 months.

    Am I in the right ballpark of what it should be? $432 per month? Also any idea why sales can't just share this information via email so we can make educated decisions? Thanks so much in advance.
  • citivascitivas Member Posts: 144
    Car_man,

    My 3 year lease for a 2009 Honda Pilot Touring ends in late July. I was researching the entire field of 3-row crossover SUV's but I am disappointed to find that not much has changed since I bought in 2008. It appears a lot of the cars are scheduled for a big refresh in 2012 (for 2013 model year). So my question is, does it make sense and is it possible with Honda to just extend my lease for another year? I'd rather not buy out the vehicle now if I don't intend to keep it long term.

    Thanks.
  • jdiz3jdiz3 Member Posts: 21
    edited April 2011
    Here is the deal i was offered. seems as if i should be able to get the $458 deal with 36 months instead of 48 months. what do you guys think, does is look legit? This is in Phoenix, AZ.

    "I finally worked this out for you. On a 4WD Nav I got $3000 total out of pocket and $458 a month incl tax 15k/year, 48 month lease. If you'd take a 2WD I can do $453 a month incl tax at 36 months or if you did 12k a year I can do $440 at 48 month on the Nav 4WD"
  • nyccarguynyccarguy Member Posts: 16,373
    Do you have any info on the April program? Has it changed from the .00145 mf - 53% residual? The vehicle I'm interested in is a 2011 Pilot EX-L w/ NAV & 4WD. 36 month lease, 15,000 miles per year. I live in Stamford, CT. Thanks in advance for your help.

    2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD

  • ck90211ck90211 Member Posts: 159
    About extending a Pilot lease for another year while waiting for 2013 to come out. If your current monthly price is good then I think it's a good idea to extend (and yes Honda does allow and encourage you to extend, or buy).

    I had a 2007 EX-L 2WD at $279+10% tax a month (42 months with nothing down), and turned it in a year ago (thinking I was going to get a good deal on the newer USB looking Pilot was comparable price). Turned out everything is $400+ a month now. Wish I had kept it (or bought it), because I like the older style better. But after looking at Toyota, Lexus, I am planning to buy or lease a EX-L soon.
  • jdiz3jdiz3 Member Posts: 21
    The April numbers are the same as March and are good until May 2nd. IIRC.
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