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Honda Ridgeline, Car Leasing, Truck
#7 of 364 Re: Re: Ridgeline Residuals And Money Factors
Sep 26, 2005 (3:04 am)
Greetings jbam1. The lease money factor that you were quoted for this truck definitely looks a little high to me. Honda Finance's current buy rate lease money factor for a 36 month lease of any 2006 Ridgeline is only .00160 with the payment of a security deposit and Honda Finance's $595 acquisition fee. It looks as though the dealer that you are working with may be marking-up Honda's base money factor for this truck to add additional back-end profit to your deal. Make sure that it uses the buy rate to calculate your truck's payment. I would be happy to calculate a sample lease payment for you on the truck that you are interested using the base lease program if you let me know what its full MSRP (with the destination charge added in) is.
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#8 of 364 Re: Re: Ridgeline Residuals And Money Factors [Car_man]
Sep 26, 2005 (5:37 pm)
Hello car_man. I just recieved a lease offer on an 2006 ridgeline rts with a msrp of $30625. The price is $27256 for the truck. $625 down with payments of $351/mo.for 36 mos. and 12k mi. per yr. I was told the residual is 61% Do you think I can do better?
#9 of 364 Re: Re: Ridgeline Residuals And Money Factors [kayakdog]
Sep 27, 2005 (9:42 am)
This sounds like a good deal. It is very similar to what I worked out a few months ago. It looks like you are getting the RTS for very close to invoice. You should take note of the lease money factor (interest rate) as it is very important. To get a rough estimate of what it equates to as an interest rate, multiply it by 24. For instance mine was .00147 which converts to an interest rate of about 3.5%. I also believe that the money factor is set by Honda Finance. The one difference I see in your offer is that the residual is only 61%, it was 62% when I leased my RTS a few months ago.
Pull the trigger and enjoy your Ridgeline.
#10 of 364 Re: Just my experience [hazcat]
Oct 06, 2005 (11:38 am)
Sorry to break it to you, but I've leased several Hondas and unfortunately I don't think I've ever had any equity at lease end. My guess is you'll be upside down too. Just don't get your hopes up.
Everyone pays the tag and title fees.
#11 of 364 Re: Just my experience [marcus16]
Oct 07, 2005 (5:01 am)
I have owned several Honda's and had only leased one prior to my Ridgeline. I leased a 2000 Odyssey LX for 36 months, 45K miles and at lease end I had about $2,300 in equity. The vehicle was worth about 16K and my buyout price was $13,750. I don't know if this is typical or not. The Odyssey's supply was lower than the demand for a few years which probably contributed to this.
#12 of 364 Re: Re: Re: Ridgeline Residuals And Money Factors
Oct 09, 2005 (6:16 am)
Hello kayakdog. You are in luck if you have not leased this truck yet. Honda recently enhanced its lease program on it. I will estimate what its lease payment should be like for you using the prices that you mentioned and the new improved lease program. According to my calculations, if you were to lease a 2006 Honda Ridgeline RTS with an MSRP of $30,625 and a selling price of $27,256 through Honda Finance right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $258. As you can see, this payment is much more attractive than the one that you were quoted last month.
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#14 of 364 Re: Re: Re: Ridgeline Residuals And Money Factors [Car_man]
Oct 10, 2005 (12:49 pm)
Car_man I have not pulled the trigger yet on a RTS lease. The dealer I've been dealing with nearly had me. Today I was there and they tried to get me to agree to a 36mo.,12mi./yr. lease with a trade allowance of $13500 on my 2003.5 Mazdaspeed Protege with 18,000 mi. and a loan balance of $11040. Giving me $2460 of equity. They changed the selling price to $27577.22 and the MSRP to $30590. The residual remained at .61%.and a money factor of .00055. They quoted me a monthly payment of $250.64/mo. The numbers don't add up. If I use the Edmunds lease calculator I come up with a monthly payment of $235.76. However, in light of your information my $2460 of equity should reduce my payment under $200/mo. How do I get the new Honda lease information since the dealer didn't mention it?
#15 of 364 Best Lease Deal Out Now
Oct 10, 2005 (4:14 pm)
Car_Man, what do you see as the best deal out there now regardless of vehicle type?
I guess what I'm asking is which vehicles have the best combination of high residual value and low interest rate for 36 month leases with mileage of both 12k & 15k per year. Reading the boards it looks like it may be the Ridgeline?
#16 of 364 LEASE OFFER RIDGELINE RTL W/ MOONROOF
Oct 12, 2005 (5:34 am)
CAR MAN I JUST RECEIVED THE FOLLOWING LEASE OFFER ON A 2006 RIDGELINE RTL W/ MOONROOF.
SELLING PRICE $28875.00.
10,000 MILES PER YEAR ( I DONT DRIVE OVER 9000.00 MILES IN A YEAR).
RESIDUAL VALUE $19582.00.
MONEY FACTOR .000555.
$317.00 + TAX FOR 36 MONTHS.
YOUR COMMENTS ON THIS HONDA OFFER.