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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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#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.
#344 of 353 Similar Lease Buyout Situation by geoscot Nov 03, 2008 (2:23 pm)
I am in a similar Lease Buyout situation for my 2006 Ridgeline RT. My lease is up in April 2009 and the buyout is $15830. The curent retail value puts it anywhere between 11,800 and 13,800. Getting a break on the buyout price would be a bonus. Has anyone here on-line been successful in a Honda Lease Buyout negotiation?   Any viable input would be greatly appreciated. Replies to this message: greg32926 (Dec 01, 2008 8:21 am) geoscot (Dec 01, 2008 6:27 pm)
#345 of 353 Re: Similar Lease Buyout Situation [geoscot] by greg32926 Dec 01, 2008 (8:21 am)
Replying to: geoscot (Nov 03, 2008 2:23 pm) I am in similar position except I have blown the mileage limit plenty. Several years ago, Toyota gave us a discount when we bought my wife's car at end of lease. I am hoping Honda offers me a discount also, but if they know I have excess mileage - I question they will feel the need to offer me a discount. They are sending paperwork asking for the mileage with 6 months to go. Anyone have any thoughts in avoiding full residual value payement? Replies to this message: geoscot (Dec 01, 2008 6:27 pm)
#346 of 353 Re: Similar Lease Buyout Situation [greg32926] by geoscot Dec 01, 2008 (6:27 pm)
Replying to: greg32926 (Dec 01, 2008 8:21 am) Check out the article on Bankrate.com called "The lowdown on buying your leased car." It is the most comprehensive article that I have found to date. They also address the excess milage issue. Good Luck -Scot
#348 of 353 Whats my damage by dantheman8 Jul 14, 2009 (10:02 am)
I'm leasing an 07 ridgeline, love it , but its too expensive now and I've gone over the 36K limit. What can I expect if I try and bring it back 7- 8 months early with an extra 2K on the odometer. My intention is to turn it in and hopefully lease or buy a new odyssey. Can I expect the dealer to work with me? Replies to this message: Car_man (Jul 15, 2009 2:21 am) mickeymouse1 (Jul 17, 2009 4:04 am) Car_man (Aug 25, 2009 3:10 am)
#349 of 353 Re: Whats my damage [dantheman8] by Car_man HOST Jul 15, 2009 (2:21 am)
Replying to: dantheman8 (Jul 14, 2009 10:02 am) Hi dantheman8. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.    You can determine approximately how much it will cost you to get out of your Ridgeline lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: mickeymouse1 (Jul 17, 2009 4:04 am) Car_man (Aug 25, 2009 3:10 am)

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