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Pickups Honda Ridgeline Honda Ridgeline Lease Questions
353 messages, Last post on Aug 25, 2009 at 3:15 AM
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Hi everyone. Please use the following discussion to post any questions that you have about leasing a Honda Ridgeline. Thanks. Car_man Host Smart Shopper / Prices Paid Forums
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I got $259+ tax a month for 36 months, $2915 down, on an RTS with a $19494 residual. For that $$$, I can live without the sunroof. It's almost as cheap as cash as I can put what I was going to pay in a money market account or cd. I couldn't pass it up as my 1986 Toyota pickup had just croaked and I didn't have all the cash yet for my Ridgie. For cash, the truck would have cost $29590+ tax, $31385.40, before I beat the dealer down more on the price. This way, if I buy it at lease end, it costs $33533.88 with tax. Financing at the most favorable rate, 3.9% simple interest, with the same down payment for three years would have brought the total with tax to $334716.43. Summary: Cash is King; lease cost $2148.48; financing cost $3331.03, not counting interest earned elsewhere. Drat, forgot whether cash or the financing route included tag and title fees. My lease includes that stuff. Also, if the truck holds its value the way Accords, Pilots, and Odysseys do, by my reckoning, it may have a nice amount of equity at lease end. By the way, when I went by the dealer to have the running boards put on, the salesman came up to me and asked me to refer my friends to him, but "Please don't tell them how much you paid." 
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Congratulations on your new truck, hazcat. Thanks for taking the time to share your lease experience with everyone. Car_man Host Smart Shopper / Prices Paid Forums |
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| For an '05 or an '06 Ridgeline for a 24 month lease. If any lease incentives are available, that would be appreciated too. | |
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Hello shfawaz. If you were to lease a 2006 Honda Ridgeline RT through American Honda Finance Corp. right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00160 and 68%, respectively. Honda is not currently providing any cash incentives on AHFC leases of this truck. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 13, 2005 2:25 am) Should I push for a better payment? |
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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. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 26, 2005 3:04 am)
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Replying to: kayakdog (Sep 26, 2005 5:37 pm) 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. |
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Replying to: hazcat (Sep 02, 2005 7:25 am)  Just don't get your hopes up. Everyone pays the tag and title fees.
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