2022 Honda Pilot EXL FWD

fl. Hi all! Got this email, and it sounds nice. We are very happy with our current white 2021 Pilot, which replaced a 2018 exactly the same. Ours is 12k/36mo, this would be 10k/27mo; we only have 7000 on it so would work. For a lower monthly and extended lease period, if we can get the same car, 1 year newer, sounds good. Our car is excellent, no damage, no nothing, garaged, clean, no kids or animals, etc. Just front window tint. Our credit is excellent.
But, are they going to bend me over? What am I missing? Swore we wouldn’t go to a dealer again. Any help/any comments really appreciated! Here’s the email:

Current Vehicle Information:
2021 Honda Pilot, EX-L 2WD
Current Payment: $439 (*we accidentally got roped into a ‘maintenance program’ :angry:)
Payments Remaining: 20
Contract End Date: 10/27/2023
Estimated Mileage: 6700
Manufacturer Warranty Expiration: 21 Months Remaining

2022 Honda Pilot, EX L 2WD
New Estimated Lease Payment Quote:
$304 Plus Tax Per Month for 27 Months*
$135 Decrease
With Possibly Only First Payment Due at Signing If customer applies all rebates and incentives to down payment
New Lease Terms & Benefits:
$135 Estimated Payment Decrease
27 Month Term
10,000 mi Per Year
New Vehicle Limited Warranty***
Excludes Tax, Title, and License
No Security Deposit Required
With Possibly Only First Payment Due At Signing, after application of your trade-in equity in average condition with approved credit*

FINE PRINT>
Due to current manufacturer offers and incentives, you can now upgrade to a New 2022 Pilot EX L 2WD if you act before 02/28/2022.

The estimated new payment has been prepared exclusively for you by and is based upon current Honda programs along with additional dealer discount offers and the estimated trade-in equity for vehicles similar to your 2021 Pilot in average condition. Lease vehicles require dealer purchase during lease term to be applied as trade equity to the transaction.
REALLY FINE PRINT>
Estimated quote based on 2022 Honda Pilot, EX L 2WD, with estimated trade equity from a 2021 Honda Pilot. Trade-in value estimated using Black Book vehicle valuation guide in average condition, with average or lower mileage, and no excess wear or repaired accident damage. Actual values may vary based on mileage, condition, and dealer inspection. See dealer for appraisal. Actual values may vary. $304 per month for 27 months. . Excludes tax, title and license. Money factor 0.0012% on select vehicles to well qualified buyers with approved credit. 10,000 mi per year allowance. Excess mi charge of $0.20 per mi applies New lease is subject to credit approval by lender or lessor w/ $304 (first mos. pymnt.) due at signing. If the payoff amount exceeds the value of your trade-in, the resulting negative equity will be added to the cost of the new vehicle and disclosed on the lease contract. Excludes standard drive off fees. No Security Deposit Required Not all lessees will qualify. Lease quote details may take into consideration mileage penalties, but not condition penalties, unpaid property taxes or lease payments as outlined in your current lease contract. Includes all applicable offers. Actual payment may vary. Every attempt has been made to ensure the accuracy of these figures based on current available information. We assume no responsibility for any unintended errors or assumptions. May not be combined with any other offer and is subject to change without prior notice. Offers based upon programs, incentives and trade values at time of printing. For all offers, take new retail delivery from dealer stock by 02/28/2022. See dealer for qualifications and complete details. ***See dealer for a copy. §Based on dealer records. ***See Dealer For A Copy

Looks like they are taking the equity and applying the $1,000 loyalty being offered this month. I would wait in all honesty the pilot will be getting redesigned soon. Also ask for a deal sheet this offer is vague and may be thousands out of pocket.

As the other user said, it appears they’re using your equity and applying it to the new Pilot. Ask for a separate quote (or get quotes from 3rd parties - carvana, vroom, etc) to get a general feel for what your vehicle is worth. Try and make selling your current pilot and getting into a new one separate transactions so you can see all the numbers

Jtamayo, Thanks for your input; that makes sense. May sound silly, but we are happy with everything about the current model, and have always tried to avoid redesigns for at least a year.

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Bumboola, thanks! We actually just used the new Equityhackr and found we’re about $3k over our current payoff, about what Carvana quoted, which is a ‘feelgood’! This offer from the dealer just adds to my stress; I’m happy with what I have, but wouldn’t mind saving a few bucks!

Wow. I wish I could get an offer like this. My wife loves the pilot. We have a Mazda CX-9 due up and have about $5k in equity. We are willing to use that to knock our payments down. Went to Honda today only to find out they want 3k over MSRP and with our equity still expected $650/month on a SE Pilot.

I would never go into a dealership, ask a broker to see if they can do MSRP

Wife wanted to test drive.

Last time I did that, it took a 1 hour pre purchase car into a 4 hour deal…haha.
Just never assume they will give you a ‘deal’ when you walk in.

I don’t but sometimes it surprises me how far off they really are

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