Honda Pilot Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi joeyhalsted. These numbers look right to me.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey preetypilot. I think that I responded to an earlier post that you made on this subject, but just in case you didn't see what message I'll post this info again. Honda's lease program for this truck varies depending upon how long you lease it for and how many miles per year you need to be able to drive it. If you were to lease an '06 Pilot EX-L 4WD without navigation through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00058 and 53%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    YMMV = Your Mileage May Vary :) .

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  • aghaagha Member Posts: 2
    I'm in the market to lease a '06 EX-L 4WD Pilot with DVD near Tucson area.
    Has anyone, recently, leased in this region of the world?
    I'm quoted the following by a dealership:
    12k miles/month
    36 months
    MF = .00058
    Residual = .55
    invoice = $31700(MSRP was about $35K)
    sell price = $32352
    Cap cost = $27624
    with a trade (Kelly Blue Book value between $6600 to $7600)
    monthly payment (include tax) = $359

    Is this a good deal? The math tells me I'm only getting about $4700 for my trade....Am I correct? I thank you in advance for any help?
  • boardmanboardman Member Posts: 3
    Car_man

    Can you confirm that with Nav, the residuals for EXL 4WD would be 53% and 51% for 12K and 15K miles per year?

    Is it true that running boards can be residualized, making it a reasonable option to consider for a lease.

    Lastly, with customer loyalty, how should that change payments. I know it foregoes a security deposit, but is that it?

    Thanks for your helpful advice
  • smith1smith1 Member Posts: 283
    Would appreciate knowing the current AHFC 36 month residuals for Pilot LX-FWD, at both 12K and 15K miles per year.

    The current 0.00012 money factor on FWD Pilots is amazing.
  • portpilotportpilot Member Posts: 7
    Thanks Car_man. The MSRP including the $550 destination charge is $35,195. I have just asked the dealer to "update" my quote based on April #'s. Only thing that has changed is as follows:

    1. Cap cost is now $31,913 (inc. dest and $595 bank fee)
    2. Monthly lease pmt.: $382/month

    I would appreciate your input. Thanks!
  • dddbbrowndddbbrown Member Posts: 6
    Thanks for confirming this info for me. I live in VA and, no, nobody said anything about the interest rate being guaranteed at the end of the term should we decide to buy. I wrote it down to ask tho! Do you know what our monthly payment would be for and EX 4WD 3year lease. Sales price is $27,966. This doesn't include anything else like tax, destination, etc. Thanks again for your help!
  • suzanne17suzanne17 Member Posts: 6
    Carman - I have emailed / faxed all of the local dealers for a quote on a 2006 Honda Pilot EX-L (15K / 36 mo) and have only gotten 1 response!

    His response was:
    $389.00 plus tax
    m/f .000220
    residual 16197.50

    Any ideas on just how bad that is? Or how to get other dealers to bid?
  • dddbbrowndddbbrown Member Posts: 6
    Looking to lease a Pilot EX4WD. We are business owners and want to be able to take the full write off of a lease. Does anyone know if it matters if we do a "lease" or and LPO?? Can you still take the full write off its an LPO? We live in the state of Virginia. Our accountant says it doesn't matter, just to keep track of the mileage, but I keep reading that if you "lease" its a full write off for your business. So we are confused. Can you take the full write off if you "lease"? The LPO seems more desirable tho but its more important for us to have the write off. Any help you can offer ASAP would be GREATLY appreciated. Thank you!
  • smith1smith1 Member Posts: 283
    If you don't trust what your accountant says about tax rules I think you've got bigger problems than how to finance your car....

    All I can say is, LPO is NOT a lease. It is a balloon note purchase that LOOKS like a lease because the downpayment is small or nothing, the monthly payments are small, and the finance company agrees to take back the vehicle in lieu of paying off the balloon.
  • jared14jared14 Member Posts: 3
    Car_man:
    I'm looking to lease a '06 Pilot EX-L 2WD w/DVD, 36 months with 15,000 miles per year.
    What should I be paying monthly ?
    thanks !
  • abangabang Member Posts: 44
    Carman:

    I'm trying to calculate the lease payment for a Honda Pilot EX (no leather)with 15K annual mileage and 3 year lease. I'm paying 1st months, security deposit and title fees of $900 up front.
    I've used the lease calculator here at Edmunds to figure the payment as follows:
    MSRP (including dest) - $31295.00
    Capitalized cost - $28213.00
    Residual - $17525.00
    Money Factor - 0.00058

    **There is no sales tax where I live (Oregon) ***

    Based on this, my payment should be $323.41. The dealer is quoting $340.28. Any ideas why there is this difference? Thanks.
  • [Deleted User][Deleted User] ColoradoPosts: 0
    I'm not Car_man, but if you add the $595 acq fee to the payments, I come in at $340.28.
  • abangabang Member Posts: 44
    That explains it! Thanks a lot! :):)
  • laelae Member Posts: 5
    Hi. I am leasing for the 1st time. I'm want to lease a Pilot 2WD EXL (leather) in NJ by the end of April. If I read the previous e-mails correctly, the residual is 55% and the money factor is .00012 for a 36 mo./12,000 mi. lease? Typically, what are you seeing and what is a good monthly payment? I would be willing to put down $1000 to $2000 down?

    Thanks,
    LAE
  • john7093john7093 Member Posts: 4
    Hi,

    Just wanted to post this deal that my wife just got. She had a Honda prior to this so they waived the security deposit:

    2006 Hondad Pilot 5dr 2wd EX AT

    MSRP=30095
    Price = 26803
    MF = .00012
    Residual = .55
    Total out of pocket= 1995 ( included $595 aquisition , 1st payment $292 , DMV $246, tax on cash $144)
    12K miles

    Payment 269+tax = 292 ( 8.75% CA tax )
  • laelae Member Posts: 5
    Hi,
    I posted a message a few days ago and wonder if anyone else has any other feedback. I want to lease a 2006 2WD EXL for 36 months/12,000 miles. So, far the best price is as follow:

    MSRP-$32,395
    Quote-$27,702
    $1000 total due at signing includes taxes and charges, etc.
    Payment: $380/month.

    Based on the money factor and residual, I can't figure the payment out using the calculator. What's your thought? It seems, by reading all the postings, most people are getting better deals. I live in NJ with a 6% interest rate.

    Thanks, LAE
  • jared14jared14 Member Posts: 3
    Hi LAE,

    I just got a quote from Willis Honda ( Burlington, NJ )for a 2006 Pilot 2WD EX-L w/DVD:

    MSRP- $33,995

    $3000 at signing, includes taxes, etc.
    Payment: $350/month
    36/months lease

    jared14
  • jared14jared14 Member Posts: 3
    LAE,
    I forgot, thats also with 15K/miles a year.

    jared14
  • kiriath39kiriath39 Member Posts: 4
    Hello everyone,

    I just came across this forum and although I haven't really looked at all the formulas involved in leasing, I was wondering if some of you could tell me if this is a decent deal.

    I'm getting a 2006 Pilot 2WD w/ Navigation

    MSRP: $34,595.00 inc. destination charge
    Negotiated price: $34,119.00

    Leasing 36 months/12,000 miles: $430/month including sales tax

    $0 money down

    Is this a good deal? I do not know about money factor or residual value but I assume some of you can tell if the monthly payment is acceptable or not.

    Thank you so much

    JP
  • kiriath39kiriath39 Member Posts: 4
    NEGOTIATED PRICE SHOULD READ: $31,119.00!

    Sorry
  • joeyknucklesjoeyknuckles Member Posts: 7
    I'm in the market to lease a 2006 pilot, the website (honda) lists the 2wd lx for 279/month w/ 1999 do at signing, 36 months-but I've found that there are better prices that honda is running.

    I saw a commercial for a 249/month with 1999 due at signing on the same deal. The local honda (internet dept) dealer told me that this is a national deal that honda is running.

    He says that the 4wd lx is 1999 up front @ 279/month and the 2wd EX is 1999 up front at 309$/month.

    Can anyone confirm this deal? Do you think that I can work any of this down to a better deal. Here's the break down of the 1999 up front and 279/month on the 4wd lx

    $1999 up front includes:
    (825 cap cost reduction
    300 security deposit
    595 aquisition
    1st month payment)
    .00012 money factor (is security deposit is paid)
    $25,845.11 Cap Cost
    55% residual (calculated from msrp to $15,149.75)
    The monthly doesn't include tax (Indiana-tax on cap cost reduction and tax on monthly payment). It also doesn't include any upgrades...such as the splash guards that the dealer says that they slap on all of the pilots (I don't know what they charge for this 'service' but I'll probably have them remove them).

    Do you think somthing better will come along after it expires (may 1st)?

    When leasing a '06 model, say i want to upgrade the stereo or interior to leather, does the dealer have to have what I want in stock, can it be ordered or do I just have to find what I want at some other dealer?

    Is the super preferred tier of financing based on credit score? Mine is in the high 700's, so I'm assuming I'll qualify.

    Thanks for any info that you can provide.
  • joeyknucklesjoeyknuckles Member Posts: 7
    alright, update here...
    I know that I saw a commercial advertising the 249/month 1999 down deal.

    HOWEVER
    the local dealer says that the numbers honda is actually offereing is
    279/month on the lx 2wd
    299/month lx 4wd
    309/month ex 2wd
    the specifics that I quoted for the 4wd on the previous message were actually for the lx 2wd. bummer eh. guess I'll have to figure out who is doing the $249 deal. One of my wifes coworker's got the same 1999/249 a month deal at this same dealer a few months back, so maybe it will be offered here again.
  • jpurthe1jpurthe1 Member Posts: 2
    Help from anyone would be greatly appreciated.

    Well here goes. I my wife and I have a Honda CRV EX 4WD. She had negotiated the deal without me and it caused us some added losses in regard to payments and such. I love the vehicle so I guess no loss on my end other than monetary.
    Well our lease ends June 1st and are looking to get an upgrade or another vehicle. We had a lease for 42 months and 12000 miles and are obviously over since we moved from NJ to FL and had to do several trips to make the move. We are at approx. 56650 miles.

    Car is in excellent shape and I have excellent credit. I want to learn how to negotiate a better deal for us. How can I go ahead a do so. I personall never have and my wife did this deal with 3500 down and 12k miles on a 42 month deal with payments being 320.75 right now on a CRV ex.

    I offered $380 on a 36 - 42 month lease on a Pilot EXL 2WD without navigation or DVD but really would liek both if possible since we will need it with a new baby hopefully in the very near future.

    The dealer made me leave after 3 1/2 hours with a 2 year old in hand. Saying his best deal was $399.00 for 42 months on an Pilot EX not EXL.

    HMMMM fishy.

    Just want to make sure I know what I am talking about ot how to approach a deal with dealerships. Ironically they called last night and left a message in regard to this deal and said I would be ecstatic after I spoke to them. I have not called yet and plan on waiting till they call me again to feel out theie interest in me now.

    Thanks for any help and be safe!!!

    JP
  • joeyknucklesjoeyknuckles Member Posts: 7
    honda's current offer the 2006 EX 2wd , which ends may first, is 1999 down for 309 a month. That is a national offer and should apply at that dealership just as the others. Only the LX models are listed on the honda website at this deal, but my local dealer says that the 309 is a national honda factory incentive.

    That is at their 'super preferred tier'...you might pay $12 to equifax to find out what your credit score is to make sure its as high as you think. You can use that knowledge to make sure that you are getting the best 'money factor'/apr available to you. I'm not sure, but I've read that anything over 710 gets the super premium highest level rates through honda's financing.

    I'm new to this too, so I don't have a lot of suggestions yet. Study the earlier posts in this message board and read up on how the leases work, learn the terminology used in lease contracts. If the dealer thinks you know what you are talking about, it may help. Try to not talk monthly payments with them as the basis for your negotiating. The monthly price is arrived at via the money factor (multiply the money factor by 2400 to get the apr), the 'residual value' (this is how much the car is worth after the end of the lease, it is a set price, a percentage of the msrp) and it is based on the capitalized cost (this is lease talk for sales price).
    The capitilized cost is negotiable, should get it down to invoice or below.
    The money factor is negotiable, just as the apr on a regular loan, it depends on your credit. The dealer might be padding this for a profit.
    The residual value should is not negotiable. The lease company sets this.

    This edmunds link tells the msrp and the prices that the pilots are actually being sold for (TMV price)
    http://www.edmunds.com/new/2006/honda/pilot/index.html

    hope some of that helps. It helped me to put type it :)

    -Joe
  • laelae Member Posts: 5
    Joe and JP,
    I was offered $380/month for a 2WD EXL with $1000 down, 36 mo./12,000 mile lease (includes all taxes/charges). See my posting a few above. I was quoted a price of $27,702. Do you think this is a good deal?

    LAE
  • jpurthe1jpurthe1 Member Posts: 2
    Not sure, my problem I am guessing was I never negotiated the price first. I got 399.00 & 42 months with 1999.00 down. So your deal sounds better than mine!

    Thanks and be safe!

    JP
  • dendre8dendre8 Member Posts: 1
    Hi Lae, I'm by no means an expert in vehicle leasing, but I just Leased my Pilot today. I've had Quotes from 15 different dealership, each with its own Lease scenario so as you can imagine I've been crunching numbers night and day in the past 2 weeks. In your case, it's a kinda difficult to tell since you did not break down and provide the final Cap Cost. Dealer have what its call an Acquisition Fee ($595), Document Fee (Varies), and Security Deposit ($295). Sometimes they tend to roll that into the Selling price, thus resulting in a higher Cap Cost. From my personal experience, dealer tends to avoid giving you details of all the costs until the Finance Manager actually typed in the Final Lease Agreement. Not that they're trying to hide that from you, but based on what I've seen, some of these Salesman are one of the most mathematically illiterated people on earth. They're job is to take you on a Test Drive and to Sell, not to crunch in numbers and help you do what-if's leasing scenario. So I assume they are just hesitant to go back and forth to the Finance Manager to get the actual numbers. So here's your scenario :

    Assuming $27702 is your Net Cap Cost ( Include all fees and your $1000 Deposit)
    MSRP : $32395
    Cap Cost : $ 27702
    Residual Value 55*
    Money Factor : .00012
    Terms : 12.000/year 36 months.

    Residual Amount : $ 17817
    Depreciation Fee : (27702-17817) / 36 = 274.58
    Finance Fee = (27702+17817)x.00012 = 5.46
    Monthly Payment Pre-Tax : $ 280.04 + Tax

    Assuming $ 27702 is your Gross Cap Cost, and your $1000 is applied towards that as a Cap Reduction, your Adjusted Cap Cost is $26702.

    Depreciation : (26702-17817) / 36 = $246.80
    Finance : (26702+17817)x.00058 = $5.34
    Monthly Payment Pre-Tax : $ 252.14 + Tax

    I'm not sure how Tax is calculated in your State and whether you pay upfront or broken down with each monthly payment. Try to figure out the Tax situation and add it to the above figure to get your Monthly Payment.

    Good Luck!
  • georgec1georgec1 Member Posts: 13
    Does anyone know the MF and Residual on 24 month lease with 12K miles for EX 4wd?
  • joeyknucklesjoeyknuckles Member Posts: 7
    how's this looking:

    06 ridgeline lx awd
    $28,250. MSRP
    $25,784. Selling Price
    $15,820. Residual value
    .000570 money factor
    36 month lease / 12k miles per year
    Total Down = $1,567.25 includes: $1,000. + $187. documentation fee + $71.22 tax + $309.03 first payment with tax.

    Payment $291.54 + tax = 309.03 ( this payment includes the splash guards that are on the truck)

    To qualify you must have a 710 (or above) auto weighted Beacon Score.

    Does this look like a good deal? This was a match from one dealer, the first one didn't give me an in writing quote yet, but over the phone the terms matched the above except he said that everything was included in the $1000 down except the tax and 1st month. I asked if there were any other fees that were not included and he said "no", I said so I'll be able to write a check for $(1000+289)x1.06(which is the tax here) for a total of 1366.34 and he said yes.

    Joe
  • joeyknucklesjoeyknuckles Member Posts: 7
    I meant to post that over in the ridgeline board, but the dealer is offering the 4wd LX Pilot for that same money. This board is more active too, so feel free to answer.
    Joe
  • paunchpaunch Member Posts: 7
    Hi,

    I'm also in the market for a 2006 Honda Pilot EX-L. We are looking at the one with Navigation with an MSRP of $34,595. All of the posts I've seen here indicate that the residual for a 3-year lease with 12K miles is 55%. I just spoke to a dealer and they are quoting me 51%. They told me that different versions of the Pilot have different residuals (i.e. Nav and without Nav). I find that hard to believe. Anyone have any info on this?

    I'm being quoted a pretty decent deal tho. The selling price is 30,688 which sounds pretty good with the near zero money factor (.00012).

    Thanks for any data.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi boardman. Honda Finance's current residual value for a 36 month, 15,000 mile per year lease of an '06 Pilot EX-L 4WD with navigation but without the DVD option is 51%. With 12,000 miles per year, this truck's residual value would be 2% higher. I am not sure if Honda Finance allows the residualization of running boards. It would not surprise me if it did. You need to check with a dealer to find out for certain. I don't think that being a returning Honda Finance customer does anything for you other than waive your vehicle's security deposit for free.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings smith1. If you were to lease a 2006 Honda Pilot LX 2WD through Honda Finance right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00012 and 53%, respectively. The residual value for a lease with 12,000 miles per year would be 2% higher. You're right, this money factor is very attractive. I was just saying to someone the other day that if I had to replace one of my vehicles right now, I would strongly consider getting a Pilot. It's a great truck at a great price.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, portpilot. OK, let's work up a sample lease payment on this truck for you and see what we come up with. According to my calculations, if you were to lease a 2006 Honda Pilot EX-L 4WD with the entertainment system, but without navigation, with an MSRP of $35,195 and a selling price of $31,913 through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $398.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I am sorry to hear that you haven't had more responses to your e-mails, suzanne17. I guess that the dealers in your area don't want to give you written price quotes that you can shop around with other dealers. If you can't get them to respond by e-mail, you'll have to call or visit them in person to strike a deal.

    You never mentioned the selling price or MSRP of the truck that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing your Pilot's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jared14. Your lease payment for this truck will depend upon what its selling price is. If you provide me with both its full MSRP (including the destination charge) and an approximate selling price, I would be happy to estimate what your lease payment should be for you. You can find the MSRP of the truck that you want by visiting the following section of this site: Edmunds.com New Vehicle Pricing. You should be able to get a good idea of how much you will have to pay for it by visiting the following discussion: "Honda Pilot: Prices Paid & Buying Experience". Once you have these numbers, let me know and I'll use Honda Finance's actual lease program to estimate what your monthly payment should be.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi abang. You're lucky that I'm answering your question for you after mentioning that your state has no sales tax ;) . Mine certainly does, yuck. Let's calculate a lease payment on this truck and see what I come up with. According to my calculations, if you were to lease a base 2006 Honda Pilot EX 4WD with an MSRP of $31,295 and a cap cost of $28,213 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $323.41. As you can see, I came up with the same payment that you did. The only possible reasons that I can think of why the payment you were quoted is higher are if this dealer is waiving your security deposit or rolling an additional charge, like Honda Finance's $595 acquisition fe into your capitalized cost. All non-returning Honda Finance lessees have to pay a security deposit that is equivalent to their vehicle's monthly payment rounded up to the nearest $25 increment. Honda Finance will waive its security deposit requirement in exchange for an increase of .00010 in vehicles' money factors.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome, LAE. Your lease payment for the Pilot that you are interested in will depend upon its MSRP and selling price. If you provide me with this information, I will be happy to estimate what your monthly payment should be for you. If you are not sure how much you should pay for this truck right now, try stopping by the following discussion: "Honda Pilot: Prices Paid & Buying Experience".

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your wide's new truck, john7093. Thanks for taking the time to share the details of your lease with everyone. There's nothing like real world examples to give consumers an idea of how much they will have to pay to lease a particular vehicle.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ahhh, that's a lot better, kiriath39. I looked at your first post and my first reaction was that this is a bad deal because you aren't getting much of a discount. OK, so you are getting a 2006 Honda Pilot EX-L 2WD with navigation with an MSRP of $34,595 for $31,119. I believe that this particular model has a dealer invoice price of $31,189. As you can see, you are getting it for right around invoice, which is a very good deal. Using the prices that you mentioned in your post and Honda Finance's actual lease program, I estimate that your 36 month, 12,000 mile per year zero down, pre-tax monthly payment should be around $381. This payment assumes that you pay a security deposit equivalent to your truck's monthly payment rounded up to the nearest $25 increment at lease signing and qualify for Honda Finance's "Super Preferred" credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jpurthe1. Since you have never personally negotiated a lease before, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    The bottom line is that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Negotiate as low a price as possible on the Pilot that you are interested in before discussing lease payments. Judging from a lot of the posts in this forum, you shouldn't have much trouble getting one for fairly close to dealer invoice right now. Once you have negotiated a good price, have the dealer that you are working with work up your truck's lease payment using Honda Finance's buy rate lease money factor. Its current buy rate for a 36 month (this is the most attractive length right now) lease of a 2WD Pilot is an amazingly low .00012. This is equivalent to an interest rate of around 0.28%!. To qualify for this great rate, you will have to pay a security deposit that is equivalent to your truck's monthly payment rounded up to the nearest $25 increment and qualify for its "Super Preferred" credit tier.

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  • laelae Member Posts: 5
    Hi Car Man,
    Thanks!
    I'm looking at the Pilot EXL 2WD.

    The MSRP $32395
    Selling price $27702
    I told them I would be willing to put $1000 out of pocket total. If you could also provide numbers with and without this $1000 payment, that would be great!!

    LAE
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, georgec1. If you were to lease a 2006 Honda Pilot EX 4WD through Honda Finance right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00058 and 56%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Joe. I am a little confused. In your post you mentioned that you are interested in leasing a "'06 Ridgeline LX AWD." Not only does this trim level of the Ridgeline not exist, but we are in a Honda Pilot discussion. I assume that you meant to write Pilot. If so, both the selling price and money factor that you were quoted look good to me.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings paunch. This truck's residual values do indeed vary by trim level. Having different residual values for different trim levels is actually a fairly common practice in the world of leasing. If you were to lease a 2006 Honda Pilot EX-L 4WD with navigation through Honda Finance right now for 36 months with 12,000 miles per year, its residual value should be 53%. The residual for an otherwise identical lease of a 2WD model would be 51%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, lae. Thanks for the additional information. If you were to lease a base 2006 Honda Pilot 2WD EX-L with an MSRP of $32,395 and a selling price of $27,702 through Honda Finance right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $307. This assumes that you pay your vehicle's first month's payment, a security deposit of $325, Honda Finance's $595 acquisition fee, and any required state taxes or fees at signing. If you opt to have your security deposit waived and to roll the acquisition fee rolled into your truck's capitalized cost, it would increase the monthly payment for this lease to around $329.

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  • laelae Member Posts: 5
    Hi Car Man,
    I talked to one of the dealerships last night. He told me the residual on the 2WD EXL was 52%??!! Any thoughts why? It is 55%, correct? His car price was $28,500. He quoted me a monthly payment of $396 with taxes and $1000 down. Bad?!!

    The other dealership. Car quote of $27702. Monthly payment $380 with taxes and $1000 down. I will meet with them on Wed. to find out the residual they used.

    I can't quite figure out these monthly payments. I'm hoping once I see it on paper I'll know where the discrepancy is. Could them be any cap cost reduction charges, etc...?

    Thanks again,
    LAE
  • suzanne17suzanne17 Member Posts: 6
    Hi Car Man -

    Thanks. I have gotten a few more responses - the common thing that they all seem to be doing is to say "The $27,788 is the price if you PURCHASE a Pilot. Your lease price would be $379.00 / month , etc......"

    Am I correct to tell them to give me best quote on cap cost and to write a lease based on that cost?
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