This Is An Update To A Previous Question

Question From Mary Ann: Hi again! I’m planning on buying out my dad’s lease on his 2007 Honda Pilot EX-L (no nav or DVD) in December. By then, it will have 50,000 miles on it (YES). It currently has around 34,000 miles on it. Just wondering what the pricing on it would be now (or if you can also foresee into the future) to see if the buyout price is good.

Also, I’ve never dealt with a lease before, is there room for negotiation in a lease buyout? I’m thinking with car sales down nationally (especially SUVs) the leasing company will be happy to have me purchase this high-mileage SUV and get it off their hands.

Oh, also, my dad will be leasing again come December. Do you have any information on residual values and money factors on the 2008 Highlander Hybrid Limiteds? Don’t need pricing, because you guys have already done that for me!

Thanks again!

Queen of the Road: Welcome back, Mary Ann! Wow, 50,000 miles?! I’ll give you the wholesale prices for both 34,000 miles and 50,000 miles. In regards to the leasing questions, I’ll let another car expert, CarFinanceGuru, answer your questions.

Is his Pilot a 2WD or 4WD?

Follow Up Comment: It’s 4WD, sorry, I though I included everything, but I forgot about the 2WD vs 4WD!

I apologize for posting the same thing twice, but I thought that maybe I had forgotten to submit the first time and that’s why you guys hadn’t answered! Just answer when you can, no hurry!

Thanks so much for all of your help!

Mary Ann

Queen of the Road: Hi Mary Ann. Below is the wholesale prices. CarFinanceGuru will take over from here. Thanks for your patience.

For a 2007 Honda Pilot 4WD EX-L with 34,000 miles, prices range from $23,100 (being in above average condition) to $21,700 (being in average condition) and $20,300 (being in below average condition).  A dealership will usually aim to sell it for +12%-14% more than wholesale, so their estimated retail prices could range from $22,500 to $25,500.

For a 2007 Honda Pilot 4WD EX-L with 50,000 miles, prices range from $21,700 (being in above average condition) to $20,300 (being in average condition) and $19,000 (being in below average condition).  A dealership will usually aim to sell it for +12%-14% more than wholesale, so their estimated retail prices could range from $21,200 to $24,200.

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