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Honda Pilot Lease Questions

2588 messages,  Last post on Nov 22, 2009 at 6:04 PM

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

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#2422 of 2588 06 Pilot going back, looking for new by ck90211 Apr 14, 2009 (5:55 pm)
My 06 EX-L is due to return end of the month. Still runs/looks perfect, and economical too ($289/month nothing upfront). Was thinking about extending the lease but since no more warranty, I wanted to look around to see what else. Best 09 Pilot EX-L 2WD deal I seen so far is Boch in MA for $388 nothing down. Is that the case or has someone managed to find something cheaper?
#2423 of 2588 Re: Best price received on Pilot EX-L 2009 [docscott1] by charriman Apr 14, 2009 (6:24 pm)
Replying to: docscott1 (Apr 11, 2009 4:33 pm) i went to two dealers so far. One out of the gate said 515.00mnth - when i pushed they were willing to do 468.00. Second dealer said 535.00 out of the gate - when pushed for better price they said they would do 450.00. I plan to wrap it up friday/saturday at a price of 430.00mnth if possible.
#2424 of 2588 2009 Pilot EX-L...First Time Leaser (Possibly) by freshy Apr 18, 2009 (8:43 pm)
I've never leased a car before. Know nothing about it. Scared.   After searching all day for a certified pre-owned Pilot, we decided that leasing an 09 might be the way to go to keep the monthly in our budget. Our last stop of the day, we discussed with the sales manager $3000 down and $320/month with 15k miles annually. Sounds like a good deal to me....too good (they had $399 offer on the windshield).   I'm hoping to finish this off tomorrow, but have no idea what to look for in the lease agreement. What should I look for in the contract...are there catches or concerns, or will it be pretty straight forward? I expect him to come back at $350/month. I've researched a bit tonight, but the money factor is new and confusing to me. Any help and/or solid advise would be greatly appreciated.   Thanks, CP Replies to this message: ck90211 (Apr 18, 2009 10:11 pm) bigdadi118 (Apr 18, 2009 10:14 pm) freshy (Apr 22, 2009 7:02 am)
#2425 of 2588 Re: 2009 Pilot EX-L...First Time Leaser (Possibly) [freshy] by ck90211 Apr 18, 2009 (10:11 pm)
Replying to: freshy (Apr 18, 2009 8:43 pm) Since I am about to return my Pilot back to Honda, I would suggest looking carefully at:   1. The obvious, such as cost of the car, money factor, residual, etc.. You can cruise the rest of the forum to understand what these are.   2. Taxes. Are you getting taxed for the whole amount of the car? or just the monthly payment? Plus are the state/dealers fees clear and legit?   3. Allowances (mileage, damage, penalties).   I just had Honda's inspector (they outsource to SGS) inspect my soon-to-return 06 Pilot. It still looks great (no dents or bodily damages), and even the inspector said so, but they are very severe with every nick/scratch. Just some chips/scratches on hood and near door handles came out to $1320!!!! A body/detailing shop could have easily fix this for $ 200 or less. Luckily it is still within the $1500 allowance from Honda.   I can't help but think the high estimate is Honda's way of trying to extract more money from expiring leases, or a way of getting me to buy/continue leasing this, or another Honda vehicle (since they will often overlook penalties if I buy/lease another Honda).   Anyhow good luck on your new lease.
#2426 of 2588 Re: 2009 Pilot EX-L...First Time Leaser (Possibly) [freshy] by bigdadi118 Apr 18, 2009 (10:14 pm)
Replying to: freshy (Apr 18, 2009 8:43 pm) freshy 09 EX L FWD $389 with zero down, 12k mi/yr, 3 yr lease $399 with zero down, 15k mi/yr, 3 yr lease   if you put 3k down and you lose them all if your car is totaled, so no money or low down are better. Replies to this message: freshy (Apr 22, 2009 7:02 am)
#2427 of 2588 Re: Honda Pilot 2009 lease Question/opinion [stoopy] by jayrider Apr 19, 2009 (7:03 am)
Replying to: stoopy (Apr 11, 2009 7:57 pm) Sale price = 31000. Tax at 7% = 33170. You have to put down 3317 to get to 30000 loan. Leasing lumps everything into the payment. Zero down means you get the new car for the first payment and walk away after three years. No having to sell or trade in -- just find another car. That is the mindset. It appeals to some -- doesn't appeal to others. Leasing costs more than buying in almost all instances. Check out ride with g dot com and see why he leases. It's just another option to get a car. The deals are not very attractive at this time so buying does make a bit more sense. Leasing used to be much more attractive. where people made out was when the depreciation factor on your lease was 60% and when it came time to turn it in the reality loss was 40%. Mercedes Benz was a good example. People leased 55k cars and only payed for 22k in depreciation when actually the car lost 33k. Replies to this message: stoopy (Apr 19, 2009 10:50 am) jayrider (Apr 19, 2009 12:29 pm)
#2428 of 2588 Re: Honda Pilot 2009 lease Question/opinion [jayrider] by stoopy Apr 19, 2009 (10:50 am)
Replying to: jayrider (Apr 19, 2009 7:03 am) Jayrider-   He said in his first post selling price was $31,000 so yes adding 7% tax your loan would be $33,170 HOWEVER he also said $875 due at signing which I deducted off the total. Thus, the loan becomes $32,295, at 5.49% (CREDIT UNION RATE) for 72 months your payment would be $527. My point wasn't why people would lease rather that it was financially ignorant to lease a $35,000 Pilot for $500 when you could buy it for $20+ more.   Also, later posts said $500 with $3,000 down. Again, add the $3,000 to sales tax and you are back at below $31,000 loan amount. It would therefore be $520-ish. Replies to this message: jayrider (Apr 19, 2009 12:29 pm)
#2429 of 2588 Re: Honda Pilot 2009 lease Question/opinion [stoopy] by jayrider Apr 19, 2009 (12:29 pm)
Replying to: stoopy (Apr 19, 2009 10:50 am) Stoopy -- The question as to why people do what they do in any endeavor defies logic in many cases. Some people see things in absolute terms -- right or wrong. Some look only for a bit of an edge one way or the other to make a decision. They stay flexible in what they feel is to their benefit. By leasing, people avoid any long term connection to the car. Trading it or selling it is a source of great anxiety. As you said, they pay for that transaction. On paper it doesn't make good financial sense most of the time and a honda pilot is probably low on the best lease list. Why do people live like paupers, house is a dump, old clothes, junker car and then when they die the kids split up 500k in the bank and in the closet? Happens all the time. They drive corvettes to the funeral. What a world.
#2430 of 2588 Re: Honda Pilot 2009 lease Question/opinion [stoopy] by glennjr Apr 19, 2009 (9:26 pm)
Replying to: stoopy (Apr 11, 2009 7:57 pm) Buy things that appreciate rent/lease things that depreciate has always been my theory. I will admit however that the SUV lease market is not great right now. In 06 i leased a 34K 4runner for 323 a month with true zero down. Just 36 payments of the 323. That was a 61 percent residual and a ridiculously low MF. Now i am looking at the pilot with only a 49 percent residual and a somewhat high MF. The best option right now on the Pilot is to buy it pre owned.
#2431 of 2588 New Pilot 2010s ?? by charriman Apr 20, 2009 (1:44 pm)
I am about to lease a Honda Pilot 2009 - but was just told by a local dealer that the 2010's will be out next month ??? has anyone heard this ? can anyone confirm this ?

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