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Honda Ridgeline Lease Questions

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  • steevosteevo Posts: 340
    Interesting. I see that deal also on the Honda website..Strange thing is if you build the car on Hondas website, or if you go to Cars Direct, the MSRP is 29135. So they must be adding 1000 in options?? GOing from 30135, it seems that they are taking about 4500 off the sticker by getting us to chip in half as cap cost, and they go down half.. SO it LOOKS like a lower payment. But in actuality they are going 2000 under sticker and you are putting 2000 down. From reading the prices paid board, it seems an aggressive buyer could get about 3000 off the sticker on one of these trucks. So You could probs negotiate down the up front money by at least 1000.
    If someone can post the MONEY FACTOR and RESIDUAL for the RTX we can figure out what the best deal would be..Post a reply addressed to Car_Man and ask for the MF and resid..or maybe he will read this and post it.
    BTW, I am researching about 5 different cars/trucks right now because I have some time, and am not really decided yet on what it is I want.
  • Hi jfox5. I have found that savvy consumers who are in an area that have a decent level of competition are usually able to beat manufacturers' advertised lease payments by negotiating a lower selling price than the one that was used to arrive at them. Shop around with a few dealers for the lowest possible selling price on the Ridgeline that you want and then have the dealer that gives you the most attractive price calculate your monthly payment using Honda Finance's current buy rate lease money factor of .00228 (for top tier customers who pay a security deposit at lease signing).

    Car_man
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  • Hey steevo. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Ridgeline RTX with 12,000 miles per year are .00228 and 60%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_Man,

    Wow. No Ridgeline lease queries in a month!
    Sir, could you be so kind as to quote me the Money factors and the residual values for both th RT and RTS? Lets say for the standard 12K/year for top tier credit.
    I'm in Georgia, but have used Tennessee dealerships in the past if I could get a better deal.
    Also, has there been much movement in these rates since the 08 came out? I do not intend to lease until December.
    Finally, do you think there could be a possibility of some special deals with lease rates in December? Has Honda been known to do anything for the final month of the year?
    Thanks,
    FX
  • Hey felixdacat13. Yep, the old Ridgeline doesn't appear to be that popular this month. Perhaps you can interpret the lack of posts in this discussion as a lack of demand and use it to your advantage during negotiations ;) . 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 2008 Honda Ridgeline RT with 12,000 miles per year are .00191 and 58%, respectively for consumers who qualify for its top credit tier and pay a security deposit at lease signing. The numbers for an otherwise identical lease of a 2008 Ridgeline RTS are .00191 and 57%. This lease program is scheduled to run though November 30th. It is difficult to say what the December program will be like at this point, but I personally doubt that you are risking much by waiting until them to lease. If I had to make an educated guess, I would say that the December program will be the same, or more attractive than the current one. Again though it is difficult to say for certain.

    Car_man
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  • Received quote from Boch Honda Norwood Ma.
    2008 RTX Ridgeline MSRP $29,135 Net $25,879
    0 Down $749 Inceptions $367 mo. for 36 mos. 12k yr

    IS this a good price?
  • New Lease incentives from Honda on the Honda Website. Im glad I told the guy at BOCH Honda I was going to wait until Dec. Newe money factor is .00051

    JD
  • Is this a good deal for the 08 Ridgeline RTS?

    $26,900 sale price
    $900 for accessories including installation(running board, roof rack, mud guards and wheel locks)?
    $60 doc fee
    Total $27,860 plus tax and license
  • d0ugd0ug Posts: 7
    I was wondering what your opinion was of the recent RTX lease option.Briefly it includes: $279.00 per month, $1999 at signing, closed end, $17000 residual and 3 year 36,000 miles. I am not sure about gap insurance. Your advice would be greatly appreciated.
  • I have been referred to a friendly Honda dealer and came up with a "good" (in my view) price for a Ridgeline RTL with several options at $34,900 installed.
    When it comes to leasing though the money factor is decidedly more expensive than RT or RTX.
    A $28K RT is$269/mth; a $35K RTL $460; 25% more expensive but the lease payment goes up 72%. I was thinking it'd be more like $350/mth
    I understand that the money factor is different but then it pushes this to a $500/mth lease which means that Audi Q7 and other luxury brands come into play.
    Is there a way to get an optioned Ridgeline RTL for around $350/mth?
  • sandylsandyl Posts: 42
    We are negotiating with dealers here. Sales tax is 7%. With 1sts month due at signing we are working on 299/month. We believe this to be doable, but wondering if we are still leaving money on the table.

    Sandy
  • signed in as my DH..

    We ended up with 279/month + tax with 1st month and 42 tax due at signing.
    "supposily" the dealer is losing money, but with 58% residual and a MF of .00051!, the ridgeline was a really good lease deal. We are getting this deal in Woodstock GA. The honda dealer 2 miles from our house was a joke. THey only have 3 in stock and this being "soccer mom" territory, the ridgeline is not what they want to sell. One metro Atlanta dealer did not even respond to my or my husband's email to even get a quote.
  • Hi Sandy,
    Which Ridgeline model did you end up getting for $279/mth +?
    I have been trying to get an RTL but can't get it under 500/mth which is too high.
    They claim that the RT and RTX can be close to what you got but the other models are 3 times as much.
    Thanks
    JohnH
  • I am on the Honda website and with the discount a local Honda dealer was prepared to give of $34,950 with all requested accessories installed out the door) and with $2,500 capital reduction this is the deal I get. I can even get a certificate for this deal and it pulls up the RT deal which means the deals are related but that's another story.

    This is the standard deal and below is the Special Lease
    2008 Ridgeline RTL
    36 Months Term
    12,000 Annual Mileage

    $593.24
    *Lease Summary: Required Refundable Security Deposit $600.00, 1st Monthly Payment $593.24, Capitalized Cost Reduction $2,500.00 to equal an estimate total of $3,693.24 due at lease signing

    LEASE SPECIAL

    2008 Ridgeline RTL
    36 Months Term
    12,000 Annual Mileage
    Terms Certificate

    $432.77
    *Lease Summary: Required Refundable Security Deposit $450.00, 1st Monthly Payment $432.77, Capitalized Cost Reduction $2,500.00 to equal an estimate total of $3,382.77 due at lease signing

    What is the money factor and the % Residual on this Lease Special?
    JohnH
  • We did get the basic RT. That is what my DH wanted. On the RT and RTX Honda really does have those great lease specials, but I gather that for the RTS and RTL they dont "need" to.
  • I need some help. My local dealer in Vegas will not give me the money factors and residuals for a 2008 Ridgeline RTS. I want to lease for 36 or 42 months. Can you get the dealer cash ($1500) and lease or do you give up the dealer cash if you lease? I have a 710-735 credit score.

    Thank you for your help. :shades:
  • Greetings csufin. The dealer invoice price of a 2008 Honda Ridgeline RTS is $28,188? Honda is currently providing a $1,000 cash incentive on leases of this truck. That reduces the invoice price to around $27,188. The selling price that you were quoted is slightly below this, which is a very good deal. The doc fee that the dealer is tacking on is very reasonable as well. Just make sure that the dealer uses Honda Finance's current .00102 buy rate lease money factor (for "Super Preferred" tier customers who pay a security deposit at lease signing) to calculate your monthly payment and you're in business.

    Car_man
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  • Hi d0ug. Honda's special lease program on the 2008 Ridgeline is pretty good. It's not the most aggressive program that I have ever seen, but it's not the worst either. I see that you referenced Honda's official advertised lease payment for this truck in your post. Keep in mind that manufacturers' advertised lease payments usually leave a little meat on the bone so to speak. Savvy consumers who are in areas that have a decent level of competition are usually able to beat these payments by negotiating a lower selling price than the one that was used to calculate them,

    Car_man
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  • Wow, javaoz, $500 per month to lease a Honda Ridgeline :surprise: . There are a lot better trucks out there for five hundred bucks a month. Let's calculate a sample lease payment on the model that you are interested in and see what we come up with. According to my calculations, if you were to lease a 2008 Honda Ridgeline RTL without navigation that has an MSRP of $33,725 and a selling price of $30,097 ($500 over invoice minus $1,000 lease cash) through Honda Finance right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $362. As you can see, even if you were to add a couple of dealer-installed options and sales tax to this it is waaaaay less than $500 per month. You may want to consider shopping around with a different dealer.

    Car_man
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  • Hi javaoz. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Ridgeline RTL without navigation with 12,000 miles per year are .00102 and 56%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hello stonejlex. The $1,500 dealer cash that Honda is currently providing on the 2008 Ridgeline is not compatible with its special lease program, but Honda is providing a $1,000 dealer cash incentive that is. Make sure to take this incentive into account when negotiating your truck's capitalized cost. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Honda Ridgeline RTS with 15,000 miles per year are .00102 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • 01tblue01tblue Posts: 13
    I am looking at a 08 RTS for a lease. What is the final lease cost say for a 08 RTS with selling price of 27,188, with 1 months deposit. tax rate is 7.75%.

    Now if I was to trade in my current GM smartbuy which is $13,795 buyout how does that play into the mix??

    finally is there one good site that will give you a good refresher/basics on lease caculations.

    thank you fro the help in advance!!
    Greg
  • I lease a 2008 RTS last night from Findlay Honda in Las Vegas. I won't divulge the selling price as it wouldn't be fair to them, but it was a great deal. Can't thank you enough for the help with the residuals and the money factors. :) :P :shades:
  • 01tblue01tblue Posts: 13
    Hi Stonejlex,

    I am up in NY and was wondering what your final deal came out too. My email is listed in my profile.

    Thanks
  • Do you know if the money factor is the same for an RTL with higher mileage (17000) per year and what the residual % is? There is a nearby dealer who advertises an RTL, 36 mo,12k lease with 999 down and tax extra for 329/month. When I ask for a quote with 17000 mi/yr, 0 down+1500 in dealer accessories and tax included the monthly pay goes way up to 482 which seems very high. I like the lease calculator at leaseguide.com which seems to support what I think about 482 payment being too high. This dealer offers the RTL, no accessories, for a straight sale at 28582 which seems like a good price. Any thoughts? Thanks.
  • chscofchscof Posts: 1
    looking at Findlay too. Any information you can share would be helpful.
  • Very informative posts guys. I'm looking at RTL and am wondering what value is realistic for negotiated vehicle price b/c the invoice is $30,846, but the price offered on carsdirect is much lower at $27,456. Are people getting close to that price? if so, the RTL lease with money factor and residual mentioned above and 7% tax would be down near $305. That seems great, i'm just wondering if i'm going to get laughed off the lot at dealership with these #'s in my head. thanks for help.
  • Honda significantly increased its cash-to-dealer incentive on Ridgelines on Friday morning - it was $1500, now it's much higher (unfortunately Edmunds hasn't changed the number on its "Latest Incentives" page, I'm sure they'll update it shortly). For a purchase, based on the new dealer incentives, the CarsDirect price is actually pretty high on a purchase. Unfortunately, AHFC won't let you use the incentives against your capitalized cost on a lease, but they've reduced the money factor significantly to compensate - I was told it was now .00077.
  • Thanks for the update. I called two dealers and told them the following: I qual for super preferred credit tier. want lease on RTL w/out nav, understand money factor to be .00077 and that cars direct is looking at 27,456 for vehicle and asked if they were in the ballpark. One is still checking other would not even listen to be mentioning terms unless at dealership. I'm next going to contact carsdirect about their lease. I guess i'm wondering what price is fair for the vehicle (msrp 33725, invoice 30846 and carsdirect list of 27456) to negotiate towards on the lease. i can handle haggling processing fees and know i'll likely need security deposit, but don't have a strong feeling on what bottom line number is appropriate for this vehicle. Thanks for all the help guys!
  • It's officially $3500, effective at least through March 3rd. This should take discounts on Ridgelines to +/- $6000. Sales are slow in the auto industry. What a great opportunity for anyone considering an '08 Ridgeline.
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