- #285 of 353
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Ridgeline
by 01tblue
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Feb 22, 2008 (9:55 am)
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I dont know if it helps any, but I looked at leasing and wasn't impressed with the pricing. I ended up buying a 2008 RTS with 4 miles on it for $23,800 including the destination charge. Tax and dmv fees were addtional fees. I also was able to get the special finance rate of 2.9% for up to 5 years.
For me and my situation it was the best route, and was very pleased at getting $7260 off of sticker and combining the low finance rate.  .
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- #286 of 353
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Re: Ridgeline [01tblue]
by mattmalt
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Feb 24, 2008 (6:34 am)
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Replying to: 01tblue (Feb 22, 2008 9:55 am)
Hey guys, thanks for all the help. I leased an 08 rtl w/out nav (in NJ) for $370 month inc tax and put 500 down (plus 400 in dmv and process fees) Did $45 per month cheaper than dealer closer to home, partly b/c i knew rebates, money factor, residual from the site. Of course I added fog lights, trailer hitch and running boards so i'm basically making two down payments, but your imput helped alot
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- #287 of 353
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Re: Ridgeline [mattmalt]
by carbuyer11
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Feb 25, 2008 (9:44 am)
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Replying to: mattmalt (Feb 24, 2008 6:34 am)
I hope you enjoy your Ridgeline as much as we have enjoyed our 2006 RTL. It's a great vehicle with lots of versatility.
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- #288 of 353
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Re: Current Lease Deals [01tblue]
by Car_man HOST
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Feb 27, 2008 (2:53 am)
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Replying to: 01tblue (Jan 24, 2008 9:36 am)
Hey Greg . Let's work up a lease payment on this truck and see what we come up with. According to my calculations, if you were to lease a 2008 Honda Ridgeline RTS that has an MSRP of $31,060 and a selling price of $27,188 through Honda Finance right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $335 assuming that you qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. The only way that you would benefit from trading in the vehicle that you currently have a SmartBuy contract on is if it is worth more as a trade than it would cost you to purchase it, which is unlikely.
Edmunds.com has a number of excellent articles on how leasing works. Here are links to a coupe to get you started: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
Car_man
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- #289 of 353
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Re: Thank you Car_Man [stonejlex]
by Car_man HOST
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Feb 27, 2008 (2:58 am)
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Replying to: stonejlex (Jan 25, 2008 12:59 pm)
You're very welcome, stonejlex. Congratulations on getting your new Ridgeline. Enjoy your new ride  .
Car_man
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- #290 of 353
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Re: Ridgeline RTL Lease rates [lakeshor]
by Car_man HOST
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Feb 27, 2008 (3:05 am)
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Replying to: lakeshor (Jan 26, 2008 1:33 pm)
Greetings lakeshor. Honda Finance's money factors are the same, regardless of what a vehicle's mileage allowance is. 15,000 miles per year is the highest mileage allowance that Honda Finance publishes residual value percentages for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty.
The dealer invoice price of a 2008 Ridgeline RTL without navigation is $30,597. Plus Honda is providing a $1,000 cash incentives on leases of this truck through Honda Finance. So a selling price of $30,097 ($500 over invoice minus the cash incentive) or better is an excellent capitalized cost for a lease off this truck right now.
Car_man
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- #291 of 353
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Re: Current Lease Deals [idahovandal]
by Car_man HOST
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Feb 27, 2008 (3:07 am)
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Replying to: idahovandal (Feb 13, 2008 9:37 pm)
Hey idahovandal. Honda significantly recently raised its dealer cash for the 2008 Ridgeline from $1,500 to $3,500. Unfortunately, this dealer cash is not compatible with Honda Finance's special lease program. It is still only providing $1,000 dealer cash on leases of this truck through Honda Finance. Its buy rate lease money factor for the '08 Ridgeline is currently .00102 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.
Car_man
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- #292 of 353
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Re: Ridgeline [sfnsfn]
by Car_man HOST
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Feb 27, 2008 (3:22 am)
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Replying to: sfnsfn (Feb 15, 2008 8:05 pm)
I can help you out, sfnsfn. Honda Finance's current buy rate lease money factor for a 24 month lease of any 2008 Ridgeline is .00102 for consumers who qualify for its top credit tier and pay a security deposit at lease signing. This truck's residual value percentages vary by trim level and mileage allowance. Its 24 month, 15,000 mile per year residual value for an '08 Ridgeline RT is 61%. It's 60% for the RT w/moonroof, 58% for the RT w/moonroof & navigation, 60% for the RTS, and 61% for the RTX. If you were to lease with only 12,000 miles per year, these residual values would be 1% higher.
Car_man
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- #293 of 353
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Re: Ridgeline [mattmalt]
by Car_man HOST
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Feb 27, 2008 (3:26 am)
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Replying to: mattmalt (Feb 24, 2008 6:34 am)
Congratulations on getting your new Ridgeline, mattmalt. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with everyone. Enjoy your new truck .
Car_man
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- #294 of 353
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Re: Current Lease Deals [Car_man]
by 01tblue
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Feb 26, 2008 (11:46 pm)
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Replying to: Car_man (Feb 27, 2008 2:53 am)
Thanks Car_Man. Basically as you stated I could not get exactly what I needed on the trade. Even though the auction sale prices were close to what I needed...
I ended up at $23,800 ( less tax and dmv) for the RTS, and they allowed me the special finance rate (2.9% super preferred credit)for up to 5 years on top of the cash back.
The deal was too sweet to pass up with $7260 off sticker and 2.9% FR. I am very pleased with the price and the truck. Thanks again for everyones help.
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