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Honda Ridgeline Lease Questions

338 messages,  Last post on Aug 01, 2008 at 8:47 AM

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

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#335 of 338 Re: RTS Lease - Cuppy1 [campbellt3] by cuppy1 Jul 20, 2008 (6:15 am)
Replying to: campbellt3 (Jul 19, 2008 3:21 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 5:37 pm)
#336 of 338 Re: RTS Lease - Cuppy1 [cuppy1] by sparkland Jul 25, 2008 (5:37 pm)
Replying to: cuppy1 (Jul 20, 2008 6:15 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 338 Ridgelines RTS Lease Offer Comparison by mdominik Aug 01, 2008 (5:09 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 338 Lease Return? by sorso Aug 01, 2008 (8:47 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!

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