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
#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.
#345 of 364 Re: Similar Lease Buyout Situation [geoscot]
Dec 01, 2008 (9:21 am)
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?
#346 of 364 Re: Similar Lease Buyout Situation [greg32926]
Dec 01, 2008 (7:27 pm)
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