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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

What is this discussion about? Honda Pilot, Car Leasing, SUV


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#2014 of 2588
Re: EXL-AWD lease [leto] by Car_man HOST
Oct 06, 2008 (5:00 pm)
Reply

Replying to: leto (Oct 02, 2008 4:57 am)

Hi leto. Honda's October lease program for the 2009 Pilot is exactly the same in October as it was in September, .00147 for consumers who qualify for its top credit tier.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#2015 of 2588
Re: Advice Needed with Buyout [dwynne] by madf
Oct 08, 2008 (2:00 am)
Reply

Replying to: dwynne (Jun 09, 2008 10:18 am)

I too got a letter from Honda asking if we'd be willing to extend our lease. We have a 2005 MDX lease that ends at the end of this month. We've been denying the fact that we have to start shopping for a new car during this awful financial time and would actually love to extend our lease (a few months). I'm assuming their motivation has to do with the economy/gas/and lease losses...so, does anyone think there might be a little room for negotiation? For instance, extend our lease another 6 months if we can get it for $100 less a month??
I'm almost positive they will lose more money if we turn it in on time then if they give us the above adjustment, but we're terrible negotiators and would really, really appreciate any input/info/advice! Thanks!
#2016 of 2588
Re: Advice Needed with Buyout [madf] by iamknott
Oct 08, 2008 (5:09 pm)
Reply

Replying to: madf (Oct 08, 2008 2:00 am)

Extending your lease is an option that is probably granted to you in the lease contract. I didn't read mine, but Honda Finance readily agreed to do it when we requested it. I think that you may do two extensions of from 1 - 6 months each, max total 12 months. You only need to pay the sales tax up front. We chose to extend because Honda was not offering any worthwhile leasing incentives for the 09 Pilot when our current lease was up. Our dealer thought it would be worth waiting a few months to see what happened. As you suspect, Honda does not mind waiting for the return of your vehicle which probably carries a residual value that is greater than the current market value. They may be praying for cheaper gas and a rebound in used SUV prices at the auction. However, I doubt very much that they would be willing to negotiate a lower lease price during your extension. Too much paperwork if they were to do that for everyone. You and I are just small cogs in a big machine. Although you might be out of the regular warranty, if your car was regularly serviced at the dealer, your drivetrain warranty would still be in effect. That's what the dealer told me.
#2017 of 2588
Good lease on Honda Pilot EX? by jessedylan
Oct 11, 2008 (6:19 pm)
Reply
I spent four hours in the dealership today, and walked away to think about it for the night. I have a lease on a Saturn Vue that ends in 04/2009, where I'm paying $350/month. Considering this, here is what the dealer offered me: $3,600 down, $410/month (monthly payment includes 9% tax). Money factor is 0.00147, and this is for 35 month term and 12,000 miles/yr. Sticker price was over $35,000, but I got them down to $29,469. Included in the reduction is $2,100 that they're going to give me so that I can return the Saturn.
 
I need a different vehicle by April, and I like this vehicle, but don't have to replace it until April if it's better to wait. With the economy and all, I would prefer not to part with $3,600 now or add $60 to my monthly payment, but I have no doubt it's worth the extra money over the Vue. If the deal is worth it, than I'll do it now. Otherwise I can walk away. Hopefully I've given you enough information to tell me if this is a good deal. I'm in Washington State.
#2018 of 2588
Re: Good lease on Honda Pilot EX? [jessedylan] by fred25
Oct 12, 2008 (11:37 am)
Reply

Replying to: jessedylan (Oct 11, 2008 6:19 pm)

IMO since you have until april you should wait. We are going into the Holiday season and many people are NOT looking to purchase vehicles at this time. This is a very slow time for the auto industry - that's why you may see incentives to boost vehicle sales. If you go back - you will see that there was a posting of the Honda Sales figures for September- which are down. If this is any indication of how serious our economy has been - October, November, and December sales figures should be equally on a downward trend. Just keep checking back with your dealers, perhaps one of them will give you a better deal to move out vehicles.
 
Fred
#2019 of 2588
Re: Good lease on Honda Pilot EX? [fred25] by jessedylan
Oct 12, 2008 (11:45 am)
Reply

Replying to: fred25 (Oct 12, 2008 11:37 am)

I told them I wanted to hold off, and now they want to lower the down payment. I think if everything else was the same, only $1,200 down instead of $3,600, I think I would probably do it.
#2020 of 2588
Re: Good lease on Honda Pilot EX? [jessedylan] by fred25
Oct 12, 2008 (6:05 pm)
Reply

Replying to: jessedylan (Oct 12, 2008 11:45 am)

It seems that they are willing to work with you. Inquire how much lower they are willing to go? if the deal seems to make sense to you and you truly feel that's the best you can do - they pull the trigger - and Congrats.
 
However, if your gut feeling says that you might be able to go a bit lower - just wait they will contact you again.
#2021 of 2588
Good lease on a 2009 Honda Pilot EXL? by ny14337
Oct 12, 2008 (7:31 pm)
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I was at a Honda dealer yesterday on Long Island, NY for a test drive of a 2009 Honda Pilot EXL. I really liked the car so I sat down for a bit to talk to the salesperson about a 36 month lease. I'm looking to pay tax, title, DMV fees, etc...(which he said would be approx. $2600), but no other downpayment. He told me the best he can do is $499 a month for a 36 month lease at 12,000 miles per year. That is considerably more than I wanted to pay. I have until February to get a new car so I'm willing to wait if the price is going to come down. Should I expect to do better than what they offered me? Sorry I dont have the price the dealer was working from, but I never saw the working numbers. Only the $499 written on the paper.
 
Thanks for any help!
#2022 of 2588
Re: Good lease on a 2009 Honda Pilot EXL? [ny14337] by iamknott
Oct 14, 2008 (10:55 am)
Reply

Replying to: ny14337 (Oct 12, 2008 7:31 pm)

ny14337,
 
Without all the numbers, it is difficult to comment on your deal. I don't know anything about NY taxes on leases, but the number you quote ($2600) for "tax, title, DMV fees, etc." seems pretty high to me. Wouldn't the tax be included in each month's payment and not paid up front? I suspect that the dealer has included a downpayment in that $2600. I am hoping that slowing sales will lead to some better lease incentives from Honda's finance company in the near future.
#2023 of 2588
Re: Good lease on a 2009 Honda Pilot EXL? [iamknott] by ny14337
Oct 14, 2008 (2:25 pm)
Reply

Replying to: iamknott (Oct 14, 2008 10:55 am)

Thanks for your reply. The number the dealer was using to figure out the lease was $31,878. The tax in NY is 8.5%. I'm not sure if this helps or not. Thanks!

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