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I just came back from the dealer and have negotiated:
2011 Pilot EX-L
36 months/ 15K miles
$2035 down includes 1st months payments
Monthly cost is $423 a month
what do ya think? I have been going back and forth with a couple of dealerships, I pick up the vehicle Saturday and wanted to make sure I am good shape.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I'd be happy to work up a lease payment on this truck for you, but in order for me to do so I need you to provide me with its full MSRP, in addition to the cap cost which you have already mentioned.
Car_man
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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
Thanks.
EXL w/ AWD
36/15k
$3300 total out of pocket
$426 a month (Arizona tax included)
Thanks
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Thanks to the internet, I found the same dark gray EX-L in Iowa City and another in Omaha...the sticker price at those places was $36,375, but they agreed to install a wiring harness and throw in floor mats.
The local salesman gave me a number that he said was "very aggressive". I shot that number to Iowa City, who beat it by $600. I then got Omaha involved and their's was even lower.
All told, the sales price was $32,990, and that includes a $280 wiring harness and all-weather floor mats.
Turned that price into a 36 month, 15,000 miles per year lease. The residual for that lease is $20,006, and the current money factor is 0.00125 (which equates to 3%). Zero dollars down, $595 acquisition fee, plus a $129 doc fee, and the monthly payment is $447.
Can I assume from your shopping geography that you're in Des Moines? We may be shopping the same local dealer (Smart) for exactly the same vehicle, but sounds like you ended up with a much better deal in Omaha.
Was that a deal that you closed this month. Curious because I haven't seen the latest MF and Residuals. Last I saw was for April.
Thanks and congrats!
Omaha's price was actually the lowest by $200, but we kept it local just to keep it local, and also to access our dealer's loyalty program (free tires if you get your oil changes done here).
36 month, 36,000 mile: 20,733
36 month, 45,000 mile: 20,006
It works out to 8 cents a mile for the bump up to 45,000 miles. Which means you'd still be ahead if you only drove 40,000 miles (because the overage is 20 cents per mile).
Enjoy the new rig!
Question is, I'm getting a lot of good deals it seems on my inquiries for Pilots right now in New England. ($31658 for an EX-L 4wd.) The lease numbers also look good now. If we put off getting the new car until September, October or even early next year, are we going to get such a good deal? It would allow us to have some months without any car payment, but I'm afraid any savings will be lost in paying more for the 2012 and less desirable lease deals. What do you think?
There are still lots of Pilots out there. Usually I would say that the lease deals & finance deals will get better as the summer goes on. But the disasters in Japan have affected supplies of automotive parts made in Japan. Inventories will start to dwindle & there won't be the usual amount of 2011 "leftovers" that normally accumulate. We're in New England (barely, CT about 10 miles from the NY border) too.
I was planning to wait as well, but made a move when I saw Honda Finance raise their promotional APR from 1.9% in April to 2.9% in May.
If you like Hondas, I'm sure you'll love the Pilot. Good luck to you!
Our biggest reason for choosing the Pilot was the fact that it is the only vehicle that's not a Minivan or Cadillac Deville that has 3 full sets of LATCHes in the second row plus 1 set of LATCHEs in the 3rd row.
If you like Hondas, I'm sure you'll love the Pilot.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
Can you tell me the lease variables (residuals, MF, etc) for the following:
EX-L with RES and Touring trim lines
36-month
10K miles per year
Any idea if June rates will remain the same or improve? Do we think 2011 inventories will start to thin out with the current Japan part issues and the impending 2012 arrival?
Thanks!
Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Pilot EX-L Touring 4WD with RES and 12,000 miles per year are .00125 and 53%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
I don't know if Honda Finance offers leases with only 10,000 miles per year on Honda Division vehicles, but if it does its residuals for that term are likely 1% higher.
It's difficult to say what Honda's June programs will be like for the Pilot, but I personally don't anticipate them being any better. I'm not sure what the inventory situation is like for the Pilot right now. I have heard that the production for a number of Japanese automakers will be restored more quickly than had originally been feared, but I expect supplies to still be thin for a couple of months.
Car_man
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36 month lease, 1500 down plus first payment, $475 month, 15k per year. Gross Cap Cost of $36429. From the finance guy included 3 years roadside assistance, tire & wheel coverage, theft protection (blah blah blah) and something I hadn't seen before. Paintless Dent Repair coverage for 3 years. Apparently unlimiting fixing of single instance dings that are less than 4 inches. He said they charge for these and then get rebates back to cover them. Nothing was added to my cost. Car also had dealer package (tint, pinstripe etc), all weather floor mats and rubber cargo mat.
Residual of 51% of MSRP ($20,183)and money factor of .00125. Dallas area.
What are June's rates for the 2WD EX-L RES 36 months, 12k please?
Can you please update us on the June numbers? Looking at 36 mos., 12k per yr on the Touring 2wd.
Thanks in advance.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Cap Cost -$35,824 ($35,229 sell price including running boards + $595 acquisition fee)
Residual -56% of MSRP - $36,375 = $20,370
Money Factor - .00142 (assuming tier one credit)
Drive off cost – $1,161.62 ($577.87 + $45 doc fee + $530 DMV and $8.75 tire fee)
Payment - $526.53 + tax = $577.87 assuming LA County tax
Now to me, that cap cost/selling price is way too high. I'm not a fan of working MSRP down but rather invoice up. From what I've seen and found on the internet, invoice is about 32K. So am I right in thinking this dealer is trying to take advantage of me. Thanx in advance.
Dealer quoted me .00132 MF and 55% residual for 15K miles and 36 months. This is for Chicagoland. Is he being honest?
MSRP $36,680.00
Sale Price $31,362.08
Residual $20,907.60 (57% of MSRP1)
Financing 3.41% APR (0.00142 money factor)
Incentive $1,000.00
Depreciation
Sale Price $31,362.08
Lease Acquisition Fee +$595.00
Capitalized Cost $31,957.08
Capitalized Cost Reduction
(Down Payment) -$0.00
Adjusted Cap Cost $31,957.08
Residual Value -$20,907.60
Depreciation $11,049.48
Finance Charge
Adjusted Cap Cost $31,957.08
Residual Value $20,907.60
Average Financed2 $26,432.34
Financed at 36 mo 0.00142 money factor3
Finance Charge $2,702.52
Fees Due at Signing
Down Payment $0.00
Documentation Fee +$239.00
Fees Due at Signing $239.00
First Month's Payment $382.00
Total Due at Signing $621.00
Honda Finance is very upfront and very easy....
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GAP is included in all AHFC leases at no additioal charge. Never ever buy GAP from a dealer as it can usually be purchased from your insurance carrier for an annual premium of about 0.1% of the MSRP as a rule of thumb. Your insurance carrier simply adds a GAP rider to your existing policy. Dealers charge outrageously inflated fees of $300 - $400 for GAP. GAP covers the amount by which your lease balance exceeds the value of the vehicle should it be totaled or stolen and never recovered. That's why GAP is relatively cheap.
Hope this helps.
John
The AutoLeaseGeek
I did not know that Honda includes GAP insurance. That is a good thing to know.
So in answer to your specific question, yes the dealer is being honest with you.
Car_man
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They have given me the best price on a lease no dealer in my area seems to even come close on an EX-L lease.
I live in NY and it is a 4 hour drive to them but worth it for me if others have had a good experience with them.
Thanks,
Steven
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What insurance can I get that will cover the costs for repairs on dings, minor dents etc so that I will not get any surprises when I return the car.
I wanted to know what this insurance is called and who offers it.
Thanks,
Steven
I do not have my documentation yet but wanted to ask before it arrives.
Thanks
John
TheAutoLeaseGeek
Can you post the residual and MF for a 2011 Pilot EX-L lease, 2WD no res, no navi, 12k and 15k miles/year, 36m.
Thanks
Thank you all in advance!
Thank you all in advance
Selling pice: $36,600.00
Up front tax: $ 1,809.54
Assignment fee: $ 595.00
Tot Cap Cost : $39,004.54
Out of pocket: $ 691.26
$585.35/month
I live in NY and anm picking it up tomorrow. No dealer in my area could come close. It is leased through Honda. We do not plan on buying it after the lease is up.
Hope that helps.
Here is a formula to help calculate your monthly payment. Helps keeps the dealers honest.
F= Money Factor
C= Total Cap Cost
R= Residual
T= Number of months in lease
payment= F(C+R) +(C-R)/T
So the next time you speak with your dealer see if they provide you with this information. That way you can check his or her numbers.