Last post on Oct 23, 2012 at 2:38 PM
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Honda Ridgeline, Car Leasing, Truck
#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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#229 of 364 Re: illya [Car_man]
Feb 09, 2007 (8:23 pm)
Car man-first of all let me tell you thank you for the great information! I did my research and have negotiated a sale price on a RTX for $25,500 with $15603.30 residual with a money factor of .00275 and a payment of $424.00. The problem is, now my step-dad has me questioning that leasing is a smart choice over buying. What happens when I turn the vehicle in after 3 years of use? Will they charge me for new brakes, batteries, exhaust system and all the hoses like he said? Thank you again Illya
#230 of 364 Honda Ridgeline RTL w/Navi
Feb 19, 2007 (4:39 pm)
I am researching the affordability of leasing myself a RTL with the navigation system. I plan on leasing in July and I am doing my homework
Here are my questions.
As the model year wears down to an end will pricing and incentives get better as a result of trying to move out the '07 inventory to bring in the '08?
When does the Honda Model year change? When would you expect to see the pricing change?
Do you have any details on the current offer for the RTL with Navi at 15K a year?
Any advice would be appreciated.
#232 of 364 Re: Honda Ridgeline RTL w/Navi [reddog522]
Feb 28, 2007 (4:10 pm)
discounts at the end of the year depend upon how much inventory is left to clear out.
it's the factory cash to dealer incentives that make the best senerio for negotiating. For leasing it's the money factor plus selling price.
The best way to save on a car is to contact several dealers in your area via e-mail, tell them what you want, that you're ready to buy, and get them to bid for your business. Can't find the car you want in your area? then expand your search out another couple hundred miles.
Mar 06, 2007 (4:42 am)
You're very welcome, illya. While you will be charged if your leased vehicle has any major dents, scratches, or completely worn out tires when you turn it in I have always found Honda Finance to be very lenient when evaluating the end of term condition of leased vehicles. It will probably not hit you up with a excess wear and tear penalty unless your leased Ridgeline is really messed up.
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#234 of 364 Re: Honda Ridgeline RTL w/Navi [reddog522]
Mar 06, 2007 (4:55 am)
Hi Peter. The lease programs on vehicles do generally improve as the model year progresses...to a point. Vehicles' residual values, which are used to calculate the depreciation portion of your lease payment, gradually fall as the model year progresses. As a result, very late in the model year it often becomes more expensive to lease vehicles. I am not sure when Honda will introduce the 2008 Ridgeline, but I would not be surprised if it was as early as June or July. I can give you an idea of what Honda's current lease program for the 2007 Ridgeline is like, but keep in mind that it will likely be very different when you are in the market for it later this year. Honda's lease program for the Ridgeline varies by region. For now I will tell you what its special regional program is like, but I need you to tell me what state you are are in to see if you qualify for it. Honda Finance's current special regional 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 .00071 and 53%, respectively for consumers who qualify for its "Super Preferred" credit tier.
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