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Prices Paid: Buying & Leasing Experiences Honda Ridgeline Lease Questions
338 messages, Last post on Aug 01, 2008 at 8:47 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Replying to: hkings (Jul 17, 2008 12:25 pm) |
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Replying to: cuppy1 (Jul 18, 2008 6:46 am) Brad
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Replying to: sparkland (Jul 18, 2008 5:27 pm) |
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Replying to: cuppy1 (Jul 18, 2008 6:46 am)
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Replying to: campbellt3 (Jul 19, 2008 3:21 pm)
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Replying to: cuppy1 (Jul 20, 2008 6:15 am) Chrysler has already announced that they will exit the lease business on August 1st. Cerberus Capital not only owns Chrysler and Chrysler Financial but controlling interest in GMAC as well. So I suspect GM will follow shortly. Ford took a $2.1 billion charge for the quarter due to falling lease residual values. Honda just released their first quarter financial report and noted that they expect falling lease residual values in the USA to cut their operating profit by $231 million. Just look at the residual calculations on 2006 Ridgeline's as an example of how wildly they miscalculated. I believe the manufacturer sponsored consumer lease will soon be history. Only time will tell." This information was quoted from "Joe" on the ROC forum. Interesting reading. |
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Just for comparison information for everyone, I am considering a Ridgeline RTS lease and got the following first offer from a dealer in southern New Jersey. The numbers don't exactly add up (eg, sales tax), but even so, it represents very aggressive sales price discount from MSRP, I thought. This being the first offer, I would next go in with further reduced selling price counter offer, but I have no idea if they'd hold firm on it. RTS RIDGELINE 1. MSRP = $31,095.00 2. Selling price = $24,723.00 3. AHFC acquisition fee = $595.00 4. Capital cost reduction = $2,500.00 5. Any dealer doc fees = $224.00 6. Any other dealer add on = $795.00 (SIDE STEPS) 7. Residual $ value after 36 months = $16,480.35 (12k a year) 8. Money factor for 36 months = .00194 9. Registration cost (for 3 years in NJ) = $284.00 10. Sales taxes = $930.70 11. Monthly lease payment = $302.00 |
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| So I am a couple of months from my extremely low $ factor lease from ending. I think my residual on my Ridgeline with Navigation is around $18,000. What can I expect if I want to purchase this vehicle? With the current price reductions I know my trade in value went to crap. I know when I had my old Passat they offered me quite a discount to keep it. Will they do the same? Should I trade it in before the lease ends because I could buy something else just the same. I don't need a truck anymore. Thanks! | |
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