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Honda Ridgeline Lease Questions

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  • Nope, they wont budge on your agreed buyout price of $20K - regardless of the current market conditions.
  • 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.
  • sorsosorso Posts: 2
    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.
  • 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? :shades:

    Any viable input would be greatly appreciated.
  • 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?
  • 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
  • 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?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    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
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  • I want to lease a Honda Ridgeline. I haven' t seen anyone post any deals lately. Am I looking in the wrong place?
  • 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
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    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
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    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
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  • donchardonchar Posts: 22
    edited May 2010
    Hi Car_Man-

    Any updated lease program info for 2010?

    To be more specific for a 12000miles RTL w/Nav.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, donchar. Honda Finance's May buy rate lease money factor and residual value for a 36 month lease of a 2010 Ridgeline RTL with navigation and 12,000 miles per year are .00200 and 51%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • iclineicline Posts: 1
    edited September 2010
    Hello, can you please give me the current numbers for leasing a honda ridgeline RTS 1500 miles, 36 mos. Thank You.
  • Here you go icline.

    Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Honda Ridgeline RTS with 15,000 miles per year are .00200 and 57%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.

    Car_man
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  • usairusair Posts: 23
    now gas prices going up, any good deals ?? to lease one. what is the current lease deal. ?
  • NOT MUCH RIDGELINE CHATTER ANY MORE..

    WAS OFFERED THIS DEAL- $0 DOWN $28900 2011 RTS 36M 12K
    $438 MONTH ~AND TAKING ME OUT OF MY LAST 2 $400 CRV LEASE PAYMENTS, AS A TRADE IN.
    SOUND GOOD?
    idk i MAY GO WITH THE EX PILOT FOR $390 ~35 MONTHS ($29000) !
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi usair. Unfortunately, Honda still isn't providing much in the way of support on the Ridgeline. It has no special lease program or cash incentives on it. The only supported program is 1.9% financing for up to 3 years and 2.9% for 4 to 5 years.

    Car_man
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  • Can you please provide Honda Finance's October money factor and residual value for a 36-month lease of a 2012 Ridgeline RTL 4WD w/Navi with 12,000 miles per year? Thanks!
  • ejemejem Posts: 1
    Hi Car_man,

    Can you please provide Honda Finance's October money factor and residual value for a 36-month lease of a 2012 Honda Ridgeline RTL with 12,000 miles per year? No navi. I'm in Westminster, colorado and dealership is Go Honda. Thanks!

    Ejem
  • Here you go wmfiske. Honda Finance's October buy rate lease money factor and residual value for a 36-month lease of a 2012 Ridgeline RTL 4WD with 12,000 miles per year are .00155 and 55% for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey Ejem. Please see my previous post for the information that you're looking for. Thanks.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • calbears1calbears1 Posts: 33

    Does Honda offer any leasing options for the Ridgeline? If so, please provide MF and Residual for 2014 Ridgeline RTL 4WD 12,000 and 15,000 36mo term. thanks!

  • kyfdxkyfdx Posts: 29,849

    @calbears1 said: Does Honda offer any leasing options for the Ridgeline? If so, please provide MF and Residual for 2014 Ridgeline RTL 4WD 12,000 and 15,000 36mo term. thanks!

    They do have a lease program... the residual is 52% for 36mo, 15K/yr.. 54% for 12K/yr.

    I'm pretty sure the Ridgeline gets Honda's standard money factor which is .00160

    MODERATOR
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  • Looking for latest numbers for a 2014 Ridgeline (looking at the Sport trim). 10K miles per year, probably 36 months. Thanks in advance.
  • kyfdxkyfdx Posts: 29,849
    eddie_yvp said:

    Looking for latest numbers for a 2014 Ridgeline (looking at the Sport trim). 10K miles per year, probably 36 months. Thanks in advance.

    We don't have any lease information on the Ridgeline. With the lack of a 2015 model, it's possible that they aren't leasing the 2014 model, any more.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

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