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Prices Paid: Buying & Leasing Experiences Honda Pilot Lease Questions
2588 messages, Last post on Nov 22, 2009 at 6:04 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Hello vault2. Honda is not currently providing any sort of lease support on the 2006 Pilot. As a result, if you were to lease one through Honda Finance you would have to use its standard lease program. Its base standard lease money factor for 36 month leases is currently .00255. 60 months is way to long to lease anything for. I don't even know if Honda Finance offers 60 months leases. If it does, I have not seen any information them. Honda Finance's current 36 month, 15,000 miles per year residual value for the 2006 Pilot EX-L without the navigation or entertainment systems is 59%. Its residual for an otherwise identical lease with 12,000 miles per year would be 2% higher. Car_man Host Smart Shopper / Prices Paid Forums
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Hi, I have a 36 month/12k miles Lease offer for 2006 Pilot EX 2WD for $399/month + tax with zero down. What do you think? Thanks. |
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HI sinbad2. You never mentioned the selling price or MSRP of the car 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 this car'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 and work up a sample lease payment on this car for you using Honda Finance's actual lease program if you let me know what these numbers are. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 26, 2005 2:59 am) so on a $31845MSRP + $550 desitination, I was looking at paying $30,000 including the bank fee. I am assuming the residual for a 12k/36 month is 61 or 62%, is that correct. The remaining dilemma is the money factor The current one I believe ia 6.125% (.0255). I was looking at something in the neighborhhod or 4-5%. I am waiting for this. I understand lease programs are updated every 15 days. The problem is too many 05's still left. |
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Car_Man - I am trying to negotiate a good deal on a 2005 Pilot EX-L. The current offer on the table from the dealer is $28,200 Purchase Price ($32,320 MSRP). Terms of the Lease are as follows: 36 month/12K miles 57% Residual 5.88% Finance Rate (Money Factor .00245) = $385 Monthly payment (according to Lease Guide.com) A few questions: 1) Is this a competitive deal? The dealer appears unwilling to budge on the Residual and money factor. I am trying to negotiate a better purchase price. 2) Do I need to factor in sales tax? 3) Down Payment: I would prefer not to put money down (unless it decreases monthly payment). What is standard practice and what does the money down go towards? 4) Am I better off waiting to negotiate a deal on a 2006? Thanks! |
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| Please help; Can the $1500 marketing help/incentive? provided by Honda, only be applied to purchase of new vehicle and not the cap cost on a lease. Lookiing at a 05-EX (no L) and get qoutes of $24693 (no dest), but dealer states that is only good on purchase not lease because a Honda rule. Any help here | |
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Car_man You have asked some excellent questions. I will get the MSRP and selling price. But in the mean time I have a question: -How do you find Honda Finance's current Residual and the Money Factor values for 06 Pilots? I mean to ask you if they are published by Honda Finance somewhere, or its somethings that only the dealers know? Thanks. |
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Car_Man - OK, here is some info: 2006 Pilot 2WD EX MSRP: $29,545 INVOICE: $26,585 Selling price: (not known) Desitination Charge: $550 Money Factor: .00265 Residual: 62% Term: 12k/36 month Offer: $399/month + tax What do you think? Thanks. |
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Hello investwisely. Honda Finance's current residual value for a 36 month, 12,000 miles per year lease of a 2006 Pilot EX-L without navigation is currently 61%. If you have not leased this truck yet, you are in luck because Honda introduced a new special lease money factor of .00105 on it this month, which is much better than the standard factor of .00255 that was available on it in September. Banks' lease programs are not revised every 15 days. Honda Finance's current program is scheduled to run through October 31st. Car_man Host Smart Shopper / Prices Paid Forums |
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Hi bw1024. Honda is currently providing $1,500 dealer cash on the 2005 Pilot. Make sure to take this cash into account when negotiating your truck's selling price. If I had to make an educated guess, I would say that you are paying right around $800 over invoice for this truck once the dealer cash is taken into account. That is a reasonable price, but you may want to stop by the following discussion to see how much other community members have paid for similar vehicles lately: "Honda Pilot: Prices Paid & Buying Experience". As long as you are comfortable with this truck's selling price, you are in good shape because the money factor that you were quoted is in line with Honda Finance's current lease program for this model (its buy rate money factor for the '05 Pilot is currently around .00255 for consumers who pay a security deposit and qualify for its top credit tier). This is why the dealer that you are working with cannot lower your vehicle's money factor. Dealers never have the authority to alter banks' residual values. If you are in a state that charges sales tax on the sale of new vehicles then you will either have to pay it at lease signing or have it added to your truck's lease payment. Consumers can and always should lease new vehicles without making any sort of capitalized cost reduction aka down payment. Honda just introduced an attractive special lease program on the 2006 Pilot for the month of October. this program's money factors are much lower than the ones that are currently available on the '05 Pilot. If you can negotiate an attractive enough selling price on an equivalent '06 Pilot you actually may be able to get a similar lease payment to an '05 model. Car_man Host Smart Shopper / Prices Paid Forums
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