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Prices Paid: Buying & Leasing Experiences Honda Pilot Lease Questions
1994 messages, Last post on Sep 06, 2008 at 2:15 PM
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Replying to: rdawg (Jun 09, 2008 10:52 am) |
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Replying to: rdawg (Jun 09, 2008 10:52 am)  . If you are still wanting to lease, the current deals on Pilots are not good - they ran out the deals on the 08 models and just have big BUY incentives on them and the 09 Pilots are still too new and have "standard" lease rates on them. I know of folks who have done month to month extensions while waiting for an ordered car to come in or for the rates on their new choice to drop. If you could do it month to month and extend the miles then that might not be too bad, but I don't know that I would want to commit to another 6 month or longer on a guzzling out of warranty vehicle . Dennis |
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Replying to: bigdadi118 (May 24, 2008 3:26 pm) 1. $399 - 1st monthly payment 2. $595 - Acquisition fee 3. $2305 - Down Payment Here is my question. Doesn't the acquisition fee usually get totalled in the payment calc? Is it true then that the $399/month excludes taxes, fees AND the acquisition fee? Just making sure my math is correct. Thanks! |
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Replying to: hondamattnj (May 25, 2008 4:01 pm) Based on the numbers you gave it seems like a 3 year lease would be around $670/month? My assumptions are as follows: 1. $39,000 MSRP 2. .00235 Money Factor 3. 8.25% Sales Tax 4.36 month lease 5. $2,300 Cap Reduction 6. 51% Residual Seems pretty high, but that's what I get in my model. Does it make sense? |
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I just went to three Honda Dealers and these were my offers: Dealer 1 48 months 15k 2000 down at 554.00 a month...I basically just walked out moments later, they called me back within minutes with 36 months 15k 1000 down at 544 a month. Havn't called them back. Dealer 2 48 months 15k 1000 down at 535.00 a month down to 48 months 15k 1500 down at 519.00 a month...down to 48 months 12k 1400 down at 498.00 a month. Dealer 3 42 months 12k 0 down - but with 1400 inception fees. (which I see it as basically bullcrap, its just like a down payment) ...and I'm not done yet..lol...maybe see another dealer tomorrow. Any suggestions? Oh and I'm handing in my 2004 Pilot with 2 months remaining and each dealer stated they would handle the remaining two payments.
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Replying to: jarhead911 (Jun 11, 2008 4:15 pm) Stop playing payments with the dealer. Get price quotes on the Pilot, the same as if you were paying cash for it. Once you have a low price - say invoice or less for the SUV, destination, and dealer fee - then worry about the lease numbers. Find out what the lease buy rate is and residual percentage, add the $595 bank fee and work out the payment for yourself. Add you state taxes and see how it looks. You could lease a Infiniti G for 24 or 36 months what you are being offer by these dealers for a Pilot with a 48 month term, depending on your tax rate (which we don't know). I would hang on to your Pilot and wait for better lease rates and possibly incentives from Honda on the 09. None of the dealers is going to "handle the remaining two payments" for you, they are just adding that right back on top of the price they are charging you for the new Pilot and YOU are paying them. Much better to just drive what you have for 2 months and then worry about the new Pilot. I would be shocked if deals were worse then and there is a good chance they would be better. 36 months is the leasing sweet spot, so I would get quotes on that and forget about a 48 months lease. So since you asked, you are doing everything wrong . Getting out too soon, getting too long of a term, getting a lease on a vehicle with high rates and no incentives, and doing it all by looking at just the payment and not the price of the vehicle. Dennis
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Replying to: dwynne (Jun 11, 2008 5:49 pm) As for the payments just a budget trying to stay under the 450 mark along with all the hoopla they try and throw in. So if I understand right, they can deduct off the MSRP Price and from that Price the lease payments will be taken from? Buy rate? Residual? I guess I have to get that off the dealer. ...anyways we just decide this even the wifey and I to just stay with it and if nothing looks promising with good deals just try and pay it month to month and go from there. Thanks again. Tax bracket 75k - 100k
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Replying to: jarhead911 (Jun 11, 2008 6:16 pm) NOT including tax and the current 09 Pilot lease rate, every $1k you get off the selling price is $30 or so per month on a 36 month lease. So ignore the selling price at your own peril . Dennis |
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I picked up one of those killer lease deals in Feb on a loaded AWD 08 here in Massachusetts. Just today I received a letter saying the state had billed AHFC a $735 property tax which I'm responsible for. Obviously I knew I'd have to pay all taxes the state charged, but that seems sort of high to me, especially on a car I don't own and have only had for 4 months. I just wanted to verify that this rate is in the ballpark of what I should expect and if I can expect a similar (but slightly reduced) bill next year? Thanks.
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Replying to: robroth (Jun 12, 2008 5:03 am) http://www.sec.state.ma.us/cis/cisexc/excidx.htm Model year purchase, you would have to pay $25 per $1000 at 90% of the car's value (or in this case MSRP). Based on your bill of $735, I would have to guess that your MSRP was around $32,600. Year two that 90% drops to 60%, so you bill will be around $490. Sorry to be the one to deliver the bad news. All hail to Taxachussetts! 
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