Honda dropped some of their money factors in response to depreciation. Some models did not suffer a drop in residual, but most did. Honda didn’t really adjust the sale price too dramatically in my area, hopefully they dropped their prices in yours. You can check out TrueCar to see your local sale prices.
This month, I would like to bring to your attention the Honda Pilot. In SoCal, it is getting about 12% off MSRP. The residual value is still fairly high and the money factor is reasonable at .00107 (2.57%). You may find it tough to find a LX 4WD model (I know I couldn’t back in April), but if you find one, you could be looking at a nice lease. The EX model should retain the same MF, but may suffer slight drop in residual value (I’m guessing about 2%). Be sure to adjust that in your calculations.
Here is a sample calculation based on TrueCar’s Southern California sale price and do not include local taxes. Please note that your dealer calculations may vary due to local fees/taxes.
2011 HONDA PILOT 4WD LX
MSRP – $29,130
Sale Price – $25,509
Monthly – $308+ tax
RWG Rating – 92.9
For Dealer Quotes, Click Here.
2011 HONDA ACCORD COUPE LX-S AT
36 month | 15k miles | residual 54% | .00049 base money factor
2011 HONDA ACCORD CROSSTOUR 2WD EX
36 month | 15k miles | residual 56% | .00049 base money factor
2011 HONDA ACCORD CROSSTOUR 4WD EX-L
36 month | 15k miles | residual 54% | .00049 base money factor
2011 HONDA ACCORD SEDAN LX AT
36 month | 15k miles | residual 56% | .00049 base money factor
2011 HONDA ACCORD SEDAN EX AT
36 month | 15k miles | residual 56% | .00049 base money factor
2012 HONDA CIVIC COUPE LX AT
36 month | 15k miles | residual 62% | .00185 base money factor
2012 HONDA CIVIC SEDAN LX AT
36 month | 15k miles | residual 64% | .00185 base money factor
2011 HONDA CR-V 4WD LX AT
36 month | 15k miles | residual 60% | .00078 base money factor
2011 HONDA CR-Z HATCHBACK AT
36 month | 15k miles | residual 63% | .00185 base money factor
2011 HONDA ELEMENT 4WD LX AT
36 month | 15k miles | residual 59% | .00185 base money factor
2011 HONDA FIT HATCHBACK AT
36 month | 15k miles | residual 60% | .00200 base money factor
2011 HONDA ODYSSEY LX AT
36 month | 15k miles | residual 60% | .00144 base money factor
2011 HONDA PILOT 4WD LX
36 month | 15k miles | residual 55% | .00107 base money factor
2011 HONDA RIDGELINE CREW CAB RT
36 month | 15k miles | residual 56% | .00185 base money factor
I am looking at a 2011 CRV SE 2WD MSRP $23,405. I could use some help figuring out lease figures 36 month 15k/yr.
Thank you,
@siavash. Use Jon’s link to get the lease rates for the CRV SE and use TrueCar to figure out the best sale price in your area. Then you can plug it into a lease calculator. You can post the numbers here and I can crunch the numbers for you if you want.
Check out weymouthhonda.com. They have an awesome lease calculator with all the current money factors and residuals for every model.
http://www.weymouthhonda.com/lease/
Thank you,
Very helpful.
Using the link that Jon left here for me, I am getting lower lease payment on a 4WD SE than a 2WD SE. Is there any way to confirm that 4WD (MSRP $24,655) has better residual value of 60% than 2WD’s (MSRP $23405) residual value of 59%?
If so it’s a no brainer to get the 4WD!
@Siavash – 4WD does have a better residual value than 2WD. I had the same reaction when I was comparing the Pilot models. 🙂 The 4WDs have 1% higher residual than the 2WDs and a better discounted sale price as well.
@siavash. What Ashwenm said is correct. there’s usually a slight improvement on residual values for 4WD vs 2WD vehicles. The catch is that the MSRP goes up a grand or two. But the 4WD is still the better deal, not to mention safer car to drive.
Hi G,
I was looking for the 2011 Honda Pilot 4WD 4dr Touring with Res & Nav Residule and Money Factor. The highest model I see listed on the lease rates is the 4WD LX. Can you please provide any insight or am I safe using the 4WD LX numbers as a guide?
Thank You
@DomB. The numbers you see are the numbers I have. Honda has a tendency of dropping the residual values for the higher end models. Weymouth Honda is showing 52% and 0.00107 MF for 12k miles per year. Take 2% off if you need a 15k lease.
@Domb – check out the link Jon posted- http://www.weymouthhonda.com/lease/ it has all residuals and money factors for all Honda models/trims.
We leased a Pilot over the last weekend – thanks to G and this great site, we were able to get a great deal on a 2011 EX trim.
We were 20 months into a 36 month- 15K/yr lease on our 09 MDX. My wife hardly put any miles on this car (~11,000 miles). As it turns out, CarMax offered $3,000 more than the payoff amount for this car. I knew I could get any dealer to match this quote.
I negotiated a sale price of $27,393 for the EX trim and after a little back-and-forth, the dealer matched the CarMax’s quote for the MDX. The trade in value was more than the Pilot price-that meant no sales tax on this lease. Being in Texas this meant a saving of ~$50/month. The slick part of the entire transaction is that I never paid sales tax when I leased the Acura. Acura was running a no-sales tax special on leases and I only has to pay a $500 L&M fee. 🙂
In any case, here is the deal I got –
2011 Pilot 2WD EX
MSRP – $31,675 (I am not sure why there is a difference between Edmunds MSRP of $31,980)
Sale Price- $27,494 (For some reason they didn’t include any acquisition cost in the cap cost :))
Residual – 57%
Money Factor -0.00107
Monthly Payment = $310
First payment included doc fee and TL amounting to ~$600 but the dealership said that they would be taking care of that. I didn’t quite understand why but I did not complain.
All in all, I have 35 monthly payments of $310 with a check coming in for $3,000 (my equity in the MDX). I think I got a great deal – not to mention lowering my monthly payment from $580 to $310. 🙂
Thanks G for the great site.
@Ashwenm. Wow, that’s a good payment for the EX Pilot! Congrats! Glad your deal worked out so well! Thanks for dropping in to share your deal with the rest of us!