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Honda Ridgeline Lease Questions

353 messages,  Last post on Aug 25, 2009 at 3:15 AM

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What is this discussion about? Honda Ridgeline, Car Leasing, Truck

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#335 of 353 Re: RTS Lease - Cuppy1 [campbellt3] by cuppy1 Jul 20, 2008 (5:15 am)
Replying to: campbellt3 (Jul 19, 2008 2:21 pm) Gross cap cost, 21582. Cap cost reduction, 637. Adjusted cap cost, 20945. Residual, 16461. Money factor, 0.0019 (4.7%) Replies to this message: sparkland (Jul 25, 2008 4:37 pm)
#336 of 353 Re: RTS Lease - Cuppy1 [cuppy1] by sparkland Jul 25, 2008 (4:37 pm)
Replying to: cuppy1 (Jul 20, 2008 5:15 am) "I strongly suspect that consumer auto leases (at least those sponsored by the auto manufacturers) will be history by the end of the year.   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.
#337 of 353 Ridgelines RTS Lease Offer Comparison by mdominik Aug 01, 2008 (4:09 am)
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
#338 of 353 Lease Return? by sorso Aug 01, 2008 (7:47 am)
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!
#340 of 353 Any thoughts? by kippster Oct 31, 2008 (4:37 pm)
I'm 6 mos away from my lease return on a 2006 Ridgeline with leather/navigation. I owe 20,000 on return in June. I actually really like it. Do you think that Honda will give me a deal on buying it since I doubt they want vehicles sitting on their lots these days? Also, should I deal with them early? Thanks. Replies to this message: mplshondadlr (Nov 01, 2008 10:10 am) kippster (Nov 01, 2008 11:47 am) sorso (Nov 03, 2008 7:18 am)
#341 of 353 Re: Any thoughts? [kippster] by mplshondadlr Nov 01, 2008 (10:10 am)
Replying to: kippster (Oct 31, 2008 4:37 pm) Nope, they wont budge on your agreed buyout price of $20K - regardless of the current market conditions. Replies to this message: kippster (Nov 01, 2008 11:47 am) sorso (Nov 03, 2008 7:18 am)
#342 of 353 Re: Any thoughts? [mplshondadlr] by kippster Nov 01, 2008 (11:47 am)
Replying to: mplshondadlr (Nov 01, 2008 10:10 am) Really...that doesn't seem to make economic sense to me. If they have a used car on their lot that they can't get rid of, as there isn't really great demand for trucks right now, it would seem to me that they would rather have the cash than a used truck they can't sell. Replies to this message: sorso (Nov 03, 2008 7:18 am)
#343 of 353 Re: Any thoughts? [kippster] by sorso Nov 03, 2008 (7:18 am)
Replying to: kippster (Nov 01, 2008 11:47 am) I don't think they will move while the car is still in it's contract. When it's time to turn it, that number is negotiable with most lease company's. It was with my VW Passat leases in the 90's. I would also like to know as well with Ridgeline for sure though.

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