Got this lease for my parents a few week after lurking on this forum! My dad and I are both on the lease because I am making all the payments but he is only on the registration. I’m not on his insurance so they weren’t able to put both of us on the registration. Let me know how I did I spent 3 weeks on research and calling dealers within a 100-mile radius.
Year, Make, Model, and Trim: 2020 Honda Pilot EX-L
MSRP: $ 41,080
Negotiated Sale Price: $35,146.43 (I am assuming this includes the $1750 Manufacturer to Dealer incentive)
Capital Cost after Incentives: $33,646.43
Monthly Payment: $365.18 including tax
Drive-Off Amount: $1000 ($379 Dealer fee, $250 Registration/Tags, First Payment)
Months: 36
Annual Mileage: 15k
MF:0.00069
Residual: 56% (but I am pretty sure they used 57% because my numbers in Excel are way closer to $365 than 56%)
Incentives: $500 Recent Grad, $1000 Honda Loyalty
Region: Connecticut
Leasehackr Score: 9.7
Leasehackr Calculator Link:
Agreed to a deal of $327 a month $2264 upfront with the same dealer for pilot exl. Been wasting my time with NY dealers who know there’s always a sucker born.
The critical variable for any Honda deal is a well negotiated pre-incentive discount. You locked in a 10.2% pre-incentive. Nicely done. I have seen several Pilot deals in June/July and the best ones posted a pre-incentive discount in the 9.8-10.9% range.
Good Honda Deal Checklist:
Well Negotiated Pre-Incentive - CHECK
Well Stacked Conditional Incentives - CHECK
Confirmed MF, RV and Incentives with edmunds.com - CHECK (research would suggest so)
Minimized DAS - CHECK
No Down Payment - CHECK
No Garbage Fees - CHECK
$41,080 MSRP
$35,146 Dealer’s Offer/Selling Price
$ 5,934 Total Discount
Well Stacked Direct-to-Consumer Incentives:
$ 1,000 Loyalty
$ 500 College Grad
Just a really nice deal overall. Your 3-week effort working through several dealers paid dividends. What was the next best pre-incentive discount you were able to negotiate?
Your deal is great, but I’m gonna ding your preparation 1 point.
It’s always a good idea to have a well built calculator. A close read of the calculator “how-to” is a must. The instructions tell you to load in your Selling Price Pre-Incentives. When you do this hackrs can see/evaluate your pre-incentive discount quickly and easily - this puts you in the best position to get the most helpful feedback.
Since your pre-incentive discount is so important, make sure your posted LH calculator properly reflects this critical variable. Selling Price instructions read:
The “Incentive” instructions tell you how to input direct-to-dealer and direct-to-consumer incentives. Honda makes heavy use of direct-to-dealer incentives. You should reflect Honda Cash in the untaxed input line.
If you have the time, it would help those that follow if you adjust your calculator so they can use your deal as a comp for their pending negotiations.
This is for 10k miles and NY taxes are 2.25% higher I believe. I’m just paying taxes and fees upfront not really putting anything down. I could of tried to squeeze a little more out of the deal but I appreciated the fact that he presented me with a fair offer and didn’t try to scam me right away. Everyone has to make money after all plus I didn’t have additional $500 for college grad.
What do you mean by next best discount? The selling price was originally $35,500 with the $1,750 Honda to dealer incentive. I got him down to $35,146.43. With the recent grad and loyalty, cap was at $33,646. do you think I left some money on the table and could’ve got him down to the $34,500 range pre-incentive?
Sorry, let me clarify. It sounds like you reached out to several dealers in a 100 mile radius. From a different dealer, what was the next best pre-incentive discount you negotiated?
The best that came in second on the same MSRP of $41,080 was $ 38,615 (6%) in. It was pretty standard across the board due to “low inventory” and would not honor the truecar quote. The worst offer I got was from Curtiss Ryan, 5% off MSRP $41,080, a bunch of stupid fees like window etch and lemon law surcharge, marked up MF of 0.0023143 and a monthly payment of $592 with $1423 DAS. In the 150 mile range - Boston high volume dealer, Boch, only provided 2 car quotes (9% off MSRP) and rest had to be in person. found this sketchy and time consuming because I did not have time to drive 2 and half hours each way for maybe a good deal.
Holy virgin Mary. You are right. If we have time …The length of this post must be a new record. Actually your skills are quite valuable except they are wrongly applied. In forums I think people prefer bite size info? You should look into writing your own posts or front page articles.
Most of my posts are written to help the OP but also help the uninitiated that follow. You salty dogs tell them to go do their research - so when they do the research they can stumble on my posts. Connect a few dots. Read my posts through the eyes of a noob. I welcome your constructive feedback.
You know Pilot deals really well. I was hoping to see your insights on this one when it was posted yesterday. What do you think of the deal?
I spent 3 weeks on research and calling dealers within a 100-mile radius.