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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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Does anyone have any feedback on a lease for a new Honda Pilot EXL-RES-AWD. Below are the most recent terms from the dealer. They still seam high so I'm curious whether anyone has any insight. $37,465.00 - MSRP $32,812.00 - Selling Price $900.00 - Down Payment $17,983.20 - Residual 48% 15,000 - miles per year $482.17 + 7.75% tax = $519.54 per month for 36 months
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I have a 2006 Pilot EX coming up for return in Feb 09. I called a LI dealer who advertised a 2009 EX Pilot $299 a month for 36 months, $0 down Tax, Title, First month payment , Bank fee $295,Destination fee $695. I called and this is the vechicle I am interested in . I see from some posting that the destination fee seem to be a duplication and maybe the dealer uses this for margin dollars?. The dealer says that he has cars for this, should I waste my time and go there , and since I have 3 months left on my lease will they buy that remaining lease to lease the new one . How despirate are dealers today ? or do I wait till January / Febuary? I am expecting that this deal woul have about a total of $2,500 down Thank you for the input.
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Replying to: nico18 (Nov 19, 2008 2:09 pm) 2009 Pilot 4WD EX-L w/RES 36 Months Term 15,000 Annual Mileage $471.60 before tax *Lease Summary: Required Refundable Security Deposit $475.00, 1st Monthly Payment $471.60, Esimated Selling Price $32,812.00 Capitalized Cost Reduction (down payment) $900.00 to equal an estimate total of $1,846.60 due at lease signing. |
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Replying to: scottband (Nov 17, 2008 7:31 pm) Good luck. |
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Replying to: Car_man (Nov 13, 2008 6:45 pm) I am helping my friend close a deal and this is what they are looking for. BTW, I got mine (4WD Touring w/ RES) in late August and the residual was 52% at the time. Below 50% early in the model year seems low. Are all the SUV brands residuals going down like this are are their any still offering a strong residual right now? Thanks.
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Replying to: dannyhashovav (Nov 18, 2008 7:06 am)
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Replying to: pilotbound1 (Nov 21, 2008 7:41 pm) In essence, two things are occurring with a down payment. First, you are making a large prepayment that is not necessary. Why put $2,500 down today, when you can spread that $2500 out over 36 months? Second. Extreme example - but this best illustrates my concern. You take your shiny new leased vehicle, drive off the lot and two weeks later you total the car. The good news is - the lease company is taken car of, since GAP is usually built into either the lease or the insurance, the car dealer is happy, since now they not only have one sale, but possibly two. And you, well - guess what your $2,500 down payment is gone - no insurance recoupment, nothing, zilch. something to consider....anyway, I am back at reading the board, my 05 Pilot is coming off lease and I was disappointed to read consumer reports discussion on it in the November issue. So looking forward for you all to educate me on the 09 Pilot pricing... |
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Replying to: jenn22 (Nov 25, 2008 4:28 am) |
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Hi, I have been reading through these forums and they are very helpful. I was hoping that someone can take a look at a quote I got for a 2009 Honda Pilot EX-L w/RES. MSRP $37,465 Risidual 48% Invoice $33,980 Money Factor .00110 or 2.64% Promotion -$1,250 15,000 Miles Hold Back -$600 36 month lease sale price $32,130 With a down payment of $1,026, my monthly payments will be $499.54 per month Do you think this is a competitive quote? Can I get a better deal? What can I negotiate if anything? Thanks for the time to read this. Any help or comments are apprecaited and welcomed. PS - not sure if this makes a difference but I live in Northern NJ....
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Car man: Would you be so kind as to provide the current residual % and money factor for a 36 month lease on a 2009 Pilot EX-L AWD, with 15K miles (is it still a 2% change for 12K on the residual?) I am located in the chicago market. I am coming off a lease of a 2005 Pilot - is there any Honda Loyalty promotion? Do you think there will be any significant changes to January numbers versus December? Thanks in advance... G
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