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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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#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)
#350 of 353 Re: Whats my damage [Car_man] by mickeymouse1 Jul 17, 2009 (4:04 am)
Replying to: Car_man (Jul 15, 2009 2:21 am) I want to lease a Honda Ridgeline. I haven' t seen anyone post any deals lately. Am I looking in the wrong place? Replies to this message: Car_man (Aug 25, 2009 3:10 am)
#351 of 353 2009 Honda Ridgeline RTL w/ Nav by gator00si Aug 05, 2009 (8:57 am)
Have the August lease rates come out yet for 36/ mo and 15k/mi yr? Also, when can we expect the 2010 models to come out?   thanks Eric Replies to this message: Car_man (Aug 25, 2009 3:15 am)
#352 of 353 Re: Whats my damage [mickeymouse1] by Car_man HOST Aug 25, 2009 (3:10 am)
Replying to: mickeymouse1 (Jul 17, 2009 4:04 am) You're looking in the right place, mickeymouse1. The problem is A) the Ridgeline is not a very popular vehicle and B) Honda's lease program for it is not very attractive. That's why you don't see much in the way of traffic in this discussion.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#353 of 353 Re: 2009 Honda Ridgeline RTL w/ Nav [gator00si] by Car_man HOST Aug 25, 2009 (3:15 am)
Replying to: gator00si (Aug 05, 2009 8:57 am) Hi Eric. Here's the information that you're looking for. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a Ridgeline RTL with navigation and 15,000 miles per year are .00285 and 44%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.   I'm not sure exactly when the 2010 Ridge will being to arrive at dealers, but given the fact that Honda already has a number of 2010 models available I suspect that it will be soon.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum

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