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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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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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There is a leasing company that has a deal with my job that gave me a quote for a 36 month lease on a 2009 Honda Pilot EX-L AWD, 12,000 miles per year. Unfortunately, I didn't get the residual, money factor, etc... for the car, but here is what I did get: $399 a month for 36 months. Due at signing would be: - $1251 sales tax - $595 bank fee - $399 first month - DMV fees This seems like a pretty good deal. The salesman said that he might be able to get the monthly payment down an additional $5-$10 depending on how the dealership is moving cars. If it's the end of the month and they are looking to make their number, I should get a better deal. I'm thinking about taking the deal but I'm not sure if I should maybe wait until January to see if the deals get better. Any thoughts? Thanks in advance, Mike
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Replying to: dannyhashovav (Nov 14, 2008 7:06 am) Lower residual values mean higher lease payments. If the Pilot's resids fall in January, which they likely will, and Honda does not improve its money factors its lease payments will rise. Manufacturers usually lower their money factors throughout the model year to offset any natural drop in residuals. A $450 doc fee does sound high. This is really nothing more than a fluff charge that adds to the dealer profit. Look at it as part of the total price that they are charging you for this truck. If the total price, including the doc fee, is less than what you would have to pay elsewhere, the fee doesn't matter. If the fee jacks up the total cost to a higher price than you might pay elsewhere negotiate more or go with a different dealer. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: citivas (Nov 22, 2008 6:41 pm) The used vehicle market has absolutely imploded over the last several months. It started with used SUV values getting crushed by high gas prices, but now there is weakness on just about all models, across the board. I'm not surprised that the residual values that you have been seeing seem low. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: golic (Dec 03, 2008 5:52 am) I don't believe that Honda is currently offering any owner loyalty incentives on the 2009 Pilot, other than the fact that as a returning Honda Finance lessee you are eligible to have your truck's security deposit waived for free. It is difficult to say what Honda's January lease program will be like at this point. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: ny14337 (Dec 03, 2008 8:03 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_noob (Dec 02, 2008 6:48 pm) leasing for 3/36 15k miles 49% residual very good price I think from the research I've done, give them a call.
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