Last post on Oct 23, 2012 at 3:38 PM
You are in the Honda Ridgeline
What is this discussion about?
Honda Ridgeline, Car Leasing, Truck
#335 of 364 Re: RTS Lease - Cuppy1 [campbellt3]
Jul 20, 2008 (6:15 am)
Gross cap cost, 21582. Cap cost reduction, 637. Adjusted cap cost, 20945. Residual, 16461. Money factor, 0.0019 (4.7%)
#336 of 364 Re: RTS Lease - Cuppy1 [cuppy1]
Jul 25, 2008 (5:37 pm)
"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.
#337 of 364 Ridgelines RTS Lease Offer Comparison
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.
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 364 Lease Return?
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!
#340 of 364 Any thoughts?
Oct 31, 2008 (5:37 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.
#341 of 364 Re: Any thoughts? [kippster]
Nov 01, 2008 (11:10 am)
Nope, they wont budge on your agreed buyout price of $20K - regardless of the current market conditions.
#342 of 364 Re: Any thoughts? [mplshondadlr]
Nov 01, 2008 (12:47 pm)
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.
#343 of 364 Re: Any thoughts? [kippster]
Nov 03, 2008 (8:18 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 364 Similar Lease Buyout Situation
Nov 03, 2008 (3:23 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.