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Prices Paid: Buying & Leasing Experiences Honda Ridgeline Lease Questions
353 messages, Last post on Aug 25, 2009 at 3:15 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
| For an '05 or an '06 Ridgeline for a 24 month lease. If any lease incentives are available, that would be appreciated too. | |
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Hello shfawaz. If you were to lease a 2006 Honda Ridgeline RT through American Honda Finance Corp. right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00160 and 68%, respectively. Honda is not currently providing any cash incentives on AHFC leases of this truck. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 13, 2005 2:25 am) Should I push for a better payment? |
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Greetings jbam1. The lease money factor that you were quoted for this truck definitely looks a little high to me. Honda Finance's current buy rate lease money factor for a 36 month lease of any 2006 Ridgeline is only .00160 with the payment of a security deposit and Honda Finance's $595 acquisition fee. It looks as though the dealer that you are working with may be marking-up Honda's base money factor for this truck to add additional back-end profit to your deal. Make sure that it uses the buy rate to calculate your truck's payment. I would be happy to calculate a sample lease payment for you on the truck that you are interested using the base lease program if you let me know what its full MSRP (with the destination charge added in) is. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 26, 2005 3:04 am)
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Replying to: kayakdog (Sep 26, 2005 5:37 pm) This sounds like a good deal. It is very similar to what I worked out a few months ago. It looks like you are getting the RTS for very close to invoice. You should take note of the lease money factor (interest rate) as it is very important. To get a rough estimate of what it equates to as an interest rate, multiply it by 24. For instance mine was .00147 which converts to an interest rate of about 3.5%. I also believe that the money factor is set by Honda Finance. The one difference I see in your offer is that the residual is only 61%, it was 62% when I leased my RTS a few months ago. Pull the trigger and enjoy your Ridgeline. |
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Replying to: hazcat (Sep 02, 2005 7:25 am)  Just don't get your hopes up. Everyone pays the tag and title fees.
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Replying to: marcus16 (Oct 06, 2005 11:38 am)
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Hello kayakdog. You are in luck if you have not leased this truck yet. Honda recently enhanced its lease program on it. I will estimate what its lease payment should be like for you using the prices that you mentioned and the new improved lease program. According to my calculations, if you were to lease a 2006 Honda Ridgeline RTS with an MSRP of $30,625 and a selling price of $27,256 through Honda Finance right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $258. As you can see, this payment is much more attractive than the one that you were quoted last month. Car_man Host Smart Shopper / Prices Paid Forums
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