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Prices Paid: Buying & Leasing Experiences Honda Pilot Lease Questions
1922 messages, Last post on Jul 24, 2008 at 3:12 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: steelernation (May 09, 2008 3:00 pm)  . The only states with discount lease rates on the Pilot are AK, CA, CT, DE, HI, ID, MA, ME, MT, ND, NH, NJ, NY, OR, PA, RI, SD, VT, WA AND WY. If you don't live in one of those the rate is quite high. If you do live in one of those states the rates are decent, but not nearly as good as rates were in the past. The VP lease example for those states shows $259 per month not including tax with a $1,645 cap cost reduction. Without the cap cost reduction the payment would rise to $310-320 or so not including tax. Depending on where you live and how tax is levied on a lease you could probably do a VP for your desired payment. Note that the lease as listed has a good bit of dealer profit you could negotiate down for a better deal. The SE is more expensive so would make the payment that much higher. Without knowing your state I could not say more, but if you live in a state without the discounted rate you will need to just buy the Pilot or get a cheaper model. Even with the discounted rate the SE may be more money than you want to spend. Dennis
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Replying to: dwynne (May 09, 2008 3:35 pm)
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Replying to: steelernation (May 09, 2008 3:43 pm) I don't know what the residual is for an SE and I assume you are looking at a 4WD. The residual for the 4WD VP is 52% and the MF is 0.00140 so I will use those. At $28,150 selling price and 52% of the MSRP you state the payment is $397.17 with 10% tax. You would have to pay the $595 bank fee and the first month's payment up front which would eat up the $1k you want to put down. I don't know how the dealer got the number you posted, but he may have added a doc fee or even destination to the price he have you or the SE residual is lower than 52%. I would look up the invoice on the Pilot you want including destination, then take off the $3,500 dealer incentive and see how that price looks compared to the price you got. You need do be at invoice less incentive or lower before you worry about the lease numbers. Dennis
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Replying to: dwynne (May 09, 2008 4:00 pm)
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Replying to: jetfan (May 11, 2008 10:55 am) However, if we look at the deal on Honda's page for those states for a 4WD VP: they show a net cap cost of $23,181.56 on the lease with a $1,645.00 cap cost reduction. Add those two together to get the selling price = $24,826.56 . Invoice include destination is shown as $26,975. So if your dealer is correct and they only get $1k in dealer money on a "cheap" lease then they are pricing the car at $25,826.56 or $1,148.44 under invoice. No way, I say. At least on this model they must still be getting the $2,500 dealer incentive. If you add $2,500 to the selling price you get $27,326.56 which is $351.56 in dealer profit (plus 100% of hold back). So at least on the VP in those states the dealer MUST be (by logic) getting the same $2,500 incentive they get for sales. No way to tell about the other Pilot models since there is no publish lease deal on them - other than to ask a few dealers and see what they say. Compared to the 1% or 0.3% leases earlier this year, the current deals are not all that great anyway. Better than 3rd party leases, but not all that great. In fact, if the dealer is correct and he only gets $1k on the lease then you may be better off to take the $3,500 off and do a 3rd party lease. You would have to run the numbers to see how it works out to be sure. Dennis
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Replying to: dwynne (May 11, 2008 12:22 pm)
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Replying to: jetfan (May 13, 2008 12:55 pm) You and I can't get a lease directly from the lease bank, we have to go through a dealer or broker. Dennis |
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Replying to: tudiu (Mar 19, 2008 5:17 pm) Sale Price, Residual Value, Money Factor. Find out what those are and you will be able to cut a decent deal. Lease payments are determined by those 3 numbers. Never negotiate monthly payments and down payments like you do when you when you purchase. If you don't understand leasing before you negotiate, you will probably get taken advantage of. Negotiate the lowest price possible on the vehicle. Compare the Residual value you are quoted with the ones you see here in the forum (they typically can't change this number since its set by the bank, but its good to double check). Next, ask for the money factor being used to calculate your finance charge, if they don't want to disclose it, move on to another dealer that will. Use this forum to compare the rates to see if they padded it or not. Some states have different money factors. Find out what their fees are and ask them to explain them. Make sure they aren't double dipping. If you ask the right questions, you should be in good shape. |
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Replying to: Car_man (May 09, 2008 2:33 am) Sales/use tax  7% supplemental Title fee No security deposit Registration fees Doc fees Tired tax fees equal about 2K. Quote is $395 a month with $1500 to drive off lot. Sound right? Any wiggle room on the selling price? Thanks.
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