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Honda Ridgeline, Car Leasing, Truck
#219 of 364 Re: lease question [lablover2]
Oct 12, 2006 (2:57 am)
Hi lablover2. Honda has provided enough lease support on the Ridgeline to advertise a $299 a month lease with around $1,000 down on it for the past year or so. Honda's current lease on the 2007 Ridgeline is right in line with this. To arrive at this advertised payment, Honda is providing $1,250 dealer cash on leases of the '07 Ridgeline through Honda Finance. Make sure to take this cash into account when negotiating this truck's capitalized cost. Also, most manufacturers' advertised leases leave a little meat on the bone so to speak. If you are in an area that has a decent level of competition, I would not be surprised if you were able to negotiate a slightly larger discount on the truck that you want than the one that was assumed for the purpose of the advertised lease.
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#220 of 364 Lease specials
Oct 20, 2006 (8:24 am)
Honda is advertising both a "standard" and "special" lease for the RL RTX. The only surface difference seems to be the down payment (2K for standard and 1500 for special). Car Man, what is the real difference here, and is it possible to get a better lease deal than what Honda is advertising? Thanks as always. -JJ
#221 of 364 Re: Lease specials [jakej]
Nov 06, 2006 (3:49 am)
Hi jakej. Honda is running a special lease on the 2007 Ridgeline right now. It has a special money factor of .00124 on it this month. This is equivalent to an interest rate of around just under 3%. Like with most manufacturers' advertised leases, I suspect that the payment that Honda is advertising on the 2007 Ridgeline leaves a little meat on the bone so to speak. If you are in an area that has a decent level of competition you should be able to negotiate a lower selling price than the one that the advertised lease is based on.
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#222 of 364 Honda Ridgeline Lease - discrepancy with dealer?
Dec 10, 2006 (7:02 pm)
I'm thinking about leasing a 2007 Honda Ridgeline RTX 36 months, 15,000 miles per year.
The MSRP is $28,300. With a sales price of $27100, down payment of 1600, residual of 17,040 and a money factor of .001240, the cost according to the dealer is $349.29 including tax and license. When I enter the same information into edmuds lease calculator (with license fee at $280), the cost is $330.06. Then when I go to leasing guide.com, the number is even lower. When I called the dealership, they said that they could bring the cost of the car down to 26830, but the cost would be $340, still higher than the $330 that I came up with. Can you explain the discrepany?
What do you think is a good number to pay per month for 15k miles per year?
#223 of 364 December Captive Lease Rate?
Dec 13, 2006 (9:10 am)
Hi Car_Man. Thanks for all the great information in the forums. You really helped me negotiate a good deal on my last lease. Now I am trying to help my father lease a Ridgeline RTL. I was wondering what the current dealer incentives and the captive lease rates are for the RTL for this month. Thanks in advance.
#224 of 364 Re: Honda Ridgeline Lease - discrepancy with dealer? [amyinsandiego]
Jan 13, 2007 (5:21 pm)
Hi amyinsandiego. Let's calculate a lease payment on this truck and see what we come up with. According to my calculations, if you were to lease a 2007 Honda Ridgeline RTX that has an MSRP of $28,300, a selling price of $27,100, a money factor of .00124 and a residual value of 59%, for 36 months your zero down, pre-tax monthly payment would be around $344. With the lower capitalized cost that you mentioned, $26,830, the monthly payment for an otherwise identical lease would drop to around $336.
Honda's lease program for this truck changed for the money of January. Instead of the special lease money factor that was available on it last month, Honda is now providing $1,500 dealer cash on it. Make sure to take this cash into account when negotiating your lease. It will help you to get an attractive capitalized cost. Honda Finance's new 36 month, 12,000 mile per year buy rate lease money factor and residual value for the 2007 Ridgeline RTX are .00275 and 56%.
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#225 of 364 Re: December Captive Lease Rate? [jfmav]
Jan 13, 2007 (6:07 pm)
You're very welcome, jfmav. I'm glad that I was able to help you out on your last lease. Honda is currently providing $1,500 dealer cash on the 2007 Ridgeline. Make sure that your father takes this cash into account when negotiating his truck's capitalized cost. This truck's lease program varies depending upon how long your father lease it for and what mileage allowance he needs. For now I will assume that he wants a 36 month lease with 15,000 miles per year. Let me know if he wants something different. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Ridgeline RTL without navigation with 15,000 miles per year are .00275 and 54%, respectively, assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
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Feb 06, 2007 (8:30 am)
Help Carman, I'm new to the leasing game. I'm looking at a RTX. Can you give me the fair numbers I need to negotiate?
#227 of 364 Re: illya [illya]
Feb 06, 2007 (9:55 pm)
Car man where are you??
Feb 08, 2007 (3:19 am)
Greetings illya. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
Basically, the two most important numbers to focus on when negotiating a lease are your vehicle's selling price and the money factor that is being used to calculate your monthly payment. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest selling price that you can on the Ridgeline that you want. If you are in an area that has a decent level of competition, you should be able to negotiate a price that's around $500 or so over invoice and then have the $1,500 dealer cash that is available on this truck subtracted from that. You can find the dealer invoice price of this truck by visiting the New Vehicle Pricing section of this site.
Once you have arrived at a price that you are comfortable with, have the dealer calculate your monthly payment using this truck's buy rate lease money factor. Honda Finance's current buy rate for consumers who lease this model for 36 months is .00275, assuming that you qualify for its top credit tier and pay a security deposit at lease signing.
That's about it. Let me know if you have any questions.
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