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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
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Replying to: hkings (Jun 06, 2008 8:07 am) I forgot to say. The wisest thing would be to stay with the truck you have and pay off your debt. If you're half way into an amortized loan and you bail on it, you've just paid off most of the interest and very little principle. You're building equity in your truck now at a much faster rate than with the first half of your loan.
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Replying to: aspesisteve (Jun 06, 2008 8:33 am) But, if you can get $22K for an '05 Nissan Frontier, you should grab it...  Paying off your loan and your credit cards would be a great thing.. However, I would hold off on leasing that Ridgeline, until you are positive that the Nissan is gone.. regards, kyfdx
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Replying to: kyfdx (Jun 06, 2008 10:07 am)
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Replying to: hkings (Jun 06, 2008 2:17 pm) But.. strictly from a math standpoint.. It will cost $11K-$13K to drive the Honda over the next 3 years.. That is depreciation and finance charges on your lease.. How much will it cost to drive the Frontier? Don't think about the payments... think about depreciation.. How much will it sell for in three more years? $10K? $13K? Even though that isn't money that you pay out, it is a real cost.. you'll lose probably as much as the lease payments on the Ridgeline. Remember.. even a car that is paid for still has depreciation costs.. Also, if you sell the car, you'll pay off your current loan.. no more interest there... and, the credit card debt will be paid off.. Granted, you have little interest being charged there for the next six months, but at some point, those debts have to be paid as well.. In three years, you will have to get another car... but, you won't have any credit card debt, and maybe more in the bank, because you haven't had to make the credit card payments over three years.. As nice as you say the Frontier is... $22K is a lot of money... If gas costs keep rising, the value may fall more quickly than you think.. At least your depreciation cost on the Ridgeline is locked in by the lease.. Good luck, either way! kyfdx
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Hey KYFDX (and aspesisteve) Everyone makes a compelling argument. The other option I have been throwing around is just to keep the truck indefinitely (forever) and when I can afford it and it makes sense, to get a 2nd vehicle just as a daily driver/commuter car. And just use the truck for when I need it... hockey games, weekend trips, etc. It's a tough call... I'm really up int he air about this one. |
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Replying to: kyfdx (Jun 07, 2008 3:51 am) It's easy to be lured by that new car smell, but buyer remorse can set in before your first oil change. If you have a good running truck in a similar class as the Ridgeline and you're tight on finances, I'd advise you to keep driving what you have. |
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My local Honda dealer has a deal for a lease on a 2008 Ridgline RTS for $199 a month and $1,000 down for 36 months. Not sure about mileage allowance, probably 10,000 or 12,500. They also have the RTL for $249 a month $1,000 down for 36 months. What do you think?
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Replying to: mleo (Jul 14, 2008 8:35 am) I would rather have the dealer quote the RTS with 0 down, then to pay any money upfront. And, ask for more details. Drive safe,
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Replying to: pcantore (Jul 15, 2008 5:45 pm) |
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Hey Cuppy.... sounds like a great deal! $214 includes taxes every month? How many miles per year do you get? Where do you live? WHat dealer? Did you get any quotes on RTL's? All info is truly appreciated!
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