Last post on Dec 09, 2013 at 4:01 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Pilot, Car Buying, SUV
#12501 of 15566 Need advice payment terms
Feb 20, 2009 (7:33 am)
In 2005 I purchased a new Pilot LX. I traded in my Rav4 and paid $303 per month for four years (ending in April 2008); I have a balloon of $15000 left (which I sort of forgot about, and yes, I am an idiot). When I was at the Honda place in 2005 I found a car I liked, brought in my Rav and decided to go for it. They took the Rav away and I spent 6 hours sitting (and very hungry) with no car, from 3PM to 9PM before I saw the finance guy. By that time, would have confessed to murder just to get out of there.
The car, of course, has been wonderful.
So, a few weeks ago I got a call from Honda asking me if I have decided what to do about the final $15000 payment.
So, I'm not sure what my options now are. I would not mind trading in the car for a new one, a used one, a used CRV; even a Fit. Doesn't really matter much to me. I'm just trying to get a handle on what's going on.
#12502 of 15566 Re: 2009 Pilot Touring 4WD with NAV without DVD RES [ed111]
Feb 20, 2009 (7:42 am)
Where are you located and what dealer did you use? I'm in Southern NJ (Marlton area) and was quoted a 2009 Touring 4WD w/Nav no RES for $34,860 (dealer #1) $35, 371 (at dealer#2) and want to get the best deal and not get screwed over. They have the model on the lot as well. I just want to get the best price. Thanks a bunch in advance for your help and if anyone else in the Southern NJ area has been given/heard of lower pricing, please feel free to reply as well.
#12503 of 15566 Re: Need advice payment terms [ronnyc]
Feb 20, 2009 (8:04 am)
Small correction: The payments end in April 2009, not 2008. SORRY!
#12504 of 15566 Re: 2009 Pilot Touring 4WD with NAV without DVD RES [Gyrlwolf]
Feb 20, 2009 (8:16 am)
I did a lot of looking in the metro NYC, northern NJ and other areas. You should be able to find this car for $1,500 or so less than the figures you are mentioning.
The key is to contact dealerships via email for price quotes first. Go to Honda.com and "build" the car you want without options. Then find the dealers with that car in stock by using the "get a quote" feature. Then get quotes from those dealers, requesting that they include all dealer fees, but exclude tax, title and license. After doing that, you may find that some dealers will beat or match the prices you get.
Don't forget, the current Honda incentive may change after March 2nd.
#12505 of 15566 Re: Need advice payment terms [ronnyc]
Feb 20, 2009 (8:30 am)
I believe you signed one of those "it's a purchase but really a lease deal". Some dealers no longer offer traditional leases in certain states due to vicarious liability laws.
I think you have 3 options with this deal:
1. Purchase the car and arrange financing for the $15,000. You can do this either on your own or through the dealer. I would recommend you find your best deal and then ask the dealer for theirs.
2. Walk away. I believe these deals had the same option as leasing where you can simply bring the car back to the dealer and turn it in.
3. Simultaneous Purchase and trade in. If you vehicle is worth at least $15,000 you can then trade it in for a new vehicle. This would save you some sales tax (in most states). The trade in would pay off the note and the excess could be used as a down payment for your new car.
All that being said, you should call AHFC or whoever financed this and get the record straight with them.
Keep us posted.
#12506 of 15566 Re: Need advice payment terms [golic]
Feb 20, 2009 (8:49 am)
My car is worth about $12000; so I could trade it in for that amount and add to the mix some more money, that might work. As I want a car, option two is not very good; as for 1: They (Honda) said I could pay the 15000 but the payments would be about $450/month, vs the $303 I pay now, so I'd be paying more for an old car.
#12508 of 15566 Re: 2009 Pilot Touring 4WD with NAV without DVD RES [Automall]
Feb 20, 2009 (11:51 am)
Would buying the 2009 Pilot Touring 4WD with NAV without DVD RES and then ADDING a DVD RES elsewhere be worth the savings? Or, would it be better to get it already installed by Honda?
I'll need a DVD RES for the California to Maine trip I'm planning this summer - hopefully, in my new Pilot Touring 4WD!
#12509 of 15566 Re: Price Paid for a 2009 Pilot EX-L 4WD [hawkmanva]
Feb 20, 2009 (12:12 pm)
I added it up again and it looks correct to me. The second line item is for NJ taxes (7%).
#12510 of 15566 Re: 2009 Pilot Touring 4WD with NAV without DVD RES [CalifLookieLoo]
Feb 20, 2009 (2:37 pm)
I have 4 kids. I bought each kid a portable dvd player for less than half of what RES would cost. So not only do we use them on long trips, but they can go with us as well.
And best of all..since each child has their own - there is NEVER any arguing of whose turn it is to watch a movie.
Something to consider...