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Honda Ridgeline Prices Paid and Buying Experience

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Comments

  • mplshondadlrmplshondadlr Posts: 409
    "Your target should be around 8k off plus good financing or close to 10k or more."

    WOW - talk about setting an unrealistic expectation. Do you think there is a dealer in the world willing to take and actual $2000.00 - $3000.00 or greater loss to sell someone a car? Thats not to say that there aren't dealers out there willing to loss $250 - $500 real dollars, but $2000 - $3000 to sell a car? From a business standpoint, that makes ZERO sense.

    I'm talking real world dollars here:
    2008 Ridgeline RTX
    $29135.00 MSRP
    $26449.00 Dealer Invoice
    -$855.00 Dealer hold back (2% HTB + 1% fixed cost adjustment)
    -$4500.00 NON-sub vented dealer cash
    =$21094.00 ACTUAL DEALER INVESTMENT. Which is $8041.00 off of the MSRP.

    If you take the sub vented rate then adjust the selling price to $23404.00 which is actual dealer investment. That is still $6541.00 off the MSRP.

    I understand advocating fantastic prices for consumers -- but lets keep expectations equal to reasonable value.
  • aspesisteveaspesisteve Posts: 833
    t-bone,

    you're getting some half truths from the dealer.
    Yes, '08 inventory is probably already delivered for the year, but to think they might run out anytime soon of what's in stock would be false.

    jfrtish prices might be the extreem - I don't want to say what's possible since I'm not the one out there buying. My guess is invoice - the $4,500 plus some or all of the dealer hold back depending upon how specific you are with the color and options.

    I have never been able to get both the low apr and all the cash incentives at the same time - but some people say they have - who knows if they sacrificed on the actual cost of the vehicle.
  • tbone0103tbone0103 Posts: 9
    So i did some more shopping around this evening and went to a dealership where the sales manager offered to do whatever he needed to do to get me into the ridgeline I wanted.. he asked me where he needed to be and he offered up 25,000 and 24,500 on an RTL w/o any aftermarket packages. He did not have the color I wanted and had to get the color from another store or the port. only aftermarket things I want are the moonroof visor($139), window tint($340), & door edge guards(120).... i have good credit 730-750 range..... Any idea if I could get 25,500 +TTL + 2.9% or less(according to some dealerships) financing??? Kind of have my cake and eat it to... but some of the sales guys seem pretty desperate.... Thoughts??
  • bolivarbolivar Posts: 2,316
    With the numbers you gave, I think $22,000 should buy that Ridgeline, which would give the dealer the holdback. He should sell it at this price, right?
  • jfritschjfritsch Posts: 958
    This is laughable. Published invoice figures for many autos have been nominal figures for many years. This is especially true for the last few years on trucks. Trying to take a calculator and determine dealer cost is silly because you don't know their cost. Honda is especially notorious for advertised and unadvertised dealer incentives (no factory to consumer rebates at all).

    Many are purchasing Ridgelines from dealers used for under kbb *trade in* (not dealer retail) price. A year or so ago a 1 yr old Pilot or RL could be traded for around 10k less than original msrp. You may be lucky now to trade for 14k off msrp. The Ridgeline usually sold in july-august for 6000 off msrp. (a bit more for the higher trims) 10k off now with the market miserable is not unreasonable.

    Your target should be around 8k off plus good financing or close to 10k or more."

    WOW - talk about setting an unrealistic expectation. Do you think there is a dealer in the world willing to take and actual $2000.00 - $3000.00 or greater loss to sell someone a car? Thats not to say that there aren't dealers out there willing to loss $250 - $500 real dollars, but $2000 - $3000 to sell a car? From a business standpoint, that makes ZERO sense.

    I'm talking real world dollars here:
    2008 Ridgeline RTX
    $29135.00 MSRP
    $26449.00 Dealer Invoice
    -$855.00 Dealer hold back (2% HTB + 1% fixed cost adjustment)
    -$4500.00 NON-sub vented dealer cash
    =$21094.00 ACTUAL DEALER INVESTMENT. Which is $8041.00 off of the MSRP.

    If you take the sub vented rate then adjust the selling price to $23404.00 which is actual dealer investment. That is still $6541.00 off the MSRP.

    I understand advocating fantastic prices for consumers -- but lets keep expectations equal to reasonable value.
  • mplshondadlrmplshondadlr Posts: 409
    If they don't sell you a Ridgeline RTX for $22K plus TT&L -- they're a fool. For the record our dealership is selling the Ridgeline RTX $22150.00 plus TT&L.

    Dont listen to other people, you can not get $10000 off the MSRP. If you hold out for that kinda pricing, you'll be a forever shopper, never a buyer.
  • jfritschjfritsch Posts: 958
    The RTX seems to sell fairly well, with the hitch and all it seems to be a sweet spot. For the other trims, (including the low end RT) getting the bids end of month and holding out may surprise you. You do want 10k off the RTL, Possibly the RTS and the navi if you can get it. (the navi models seem to sell out soon) You may not get iti in your area but the concept that 10k off (especially including favorable financing) is pie in the sky is mistaken.

    If they don't sell you a Ridgeline RTX for $22K plus TT&L -- they're a fool. For the record our dealership is selling the Ridgeline RTX $22150.00 plus TT&L.

    Dont listen to other people, you can not get $10000 off the MSRP. If you hold out for that kinda pricing, you'll be a forever shopper, never a buyer.
  • mplshondadlrmplshondadlr Posts: 409
    "You may not get iti in your area but the concept that 10k off (especially including favorable financing) is pie in the sky is mistaken."

    The proof is in the pudding -- be prepared to put your money where your mouth is. Here is a challenge for you, the expert: Get a verifiable quote from ANY dealer in the United States for $10k off the MSPR + the low rate APR option. Email me the dealer name so I too, using my email can get the same quote. It must also be verified with a phone call to the person who sent you the quote. If it's true and verified, I will buy the Ridgeline on the spot.

    I'll be waiting...

    The truth is you're going to say, "I don't have to prove it" but you the expert knows it can be done. Not only will you not provide proof but you'll also try to disparage me for calling on to the wool.
  • aspesisteveaspesisteve Posts: 833
    wheter or not it's possible to get $10k off MSRP on a new Ridgeline, you'd have to admit that the pricing process that is deeply ingrained in the car industry makes anything seem possible.

    There's a great deal of mistrust between buyer and seller here. I think coming to a price for real estate is easier than it is for an auto.

    I can't think of another purchase that causes more haggling that a new car purchase.
  • mplshondadlrmplshondadlr Posts: 409
    "wheter or not it's possible to get $10k off MSRP on a new Ridgeline, you'd have to admit that the pricing process that is deeply ingrained in the car industry makes anything seem possible."

    ...

    "I can't think of another purchase that causes more haggling that a new car purchase."


    Which is the reason boards like this exist. In todays day and age all of the information is out there. There are several free resources available 24/7 on the internet that helps to cut through all of the B.S. These resources help the consumer confirm not only an actual dealer cost but also help to confirm if the buyer is getting a good deal, or if they should just walk away.

    The downside, is when a consumer see's a price on a pricing board that is impossible to attain, which in the long run makes the whole purchase upsetting and more troublesome then it should be.

    I have delt with more then one reader of this very board who says something along the line of, 'I saw there was a guy in Carmel, CA. who posted that he bought this same Honda for $XXXXXX so I expect the same price.' Meanwhile, that consumer forgets to mention that 30 other people on this board post a price paid much higher then this one poster who may or may not have actually paid the low price he said he did. As a dealer, it's no fun to tell someone NO. Afterall, we get paid when we sell cars and were it up to us, we would sell EVERYONE a car.

    Just my .02
  • tbone0103tbone0103 Posts: 9
    Just an FYI... Monday, I bought a 2008 Formal Black RTL w/o nav., w/ leather, cargo tray, window tint, moonroof visor, pin stripes, door edge protectors, wheel locks,, mud guards, for $26,099 + TTL came to 27,541.... I think that is a pretty good deal..... about 9000 off MSRP for the basic RTL w/ no dealer packages... Any thoughts?
  • mplshondadlrmplshondadlr Posts: 409
    Thats a great price. The RTL comes with tinted windows standard.
    The MSRP is $33725.00
    Invoice is $30796.00
    minus $4500.00 dealer cash
    minus cost of accessories $529.00 (MN prices installed)

    = You bought the Ridgeline for $529.00 UNDER invoice - About $8000.00 off MSRP.
  • jfritschjfritsch Posts: 958
    10k off msrp (with the favorable financing) would be good. Almost 12-14k off (10k plus the favorable financing) I would like to see myself. Although I wouldn't go off in a froth of denial if I saw one, just scepticism. Really, ever since the Ridgelines intro many dealerships have had to let some go for 7000+ off msrp around july, especially the higher trims. 8k off is nothing to write home about now in "bad" times.

    10 k off (in cash or cash + financing) isn't exactly giving a 34000 msrp vehicle away especially when you may be very lucky to trade it in on something else (or more accurately, for cash) for $ 20000 in 12 months. Numerous members on the ownersclub forum have bought used 07s and 06s from dealer retail for kbb wholesale (trade in) value or less.

    I'm not telling you every dealer in every city will line up to drop his pants for 10k off for emailing him, and I'm not going to email 100 even of the 1000 or so honda dealerships around the 100 or so major metropolitan areas and some in the stix so you can consider yourself the victor on this one mplshondadlr.

    Good luck
    --jjf

    You may not get iti in your area but the concept that 10k off (especially including favorable financing) is pie in the sky is mistaken."

    The proof is in the pudding -- be prepared to put your money where your mouth is. Here is a challenge for you, the expert: Get a verifiable quote from ANY dealer in the United States for $10k off the MSPR + the low rate APR option. Email me the dealer name so I too, using my email can get the same quote. It must also be verified with a phone call to the person who sent you the quote. If it's true and verified, I will buy the Ridgeline on the spot.

    I'll be waiting...

    The truth is you're going to say, "I don't have to prove it" but you the expert knows it can be done. Not only will you not provide proof but you'll also try to disparage me for calling on to the wool.
  • sbddrjsbddrj Posts: 8
    It is funny seeing a dealer on here trying to dispell what others are saying about prices for a Ridgline. Just shows how depserate they are, and how much time they have on their hands becuase of decreasing car sales. The fact is the sales figures for the Ridgline were down 41% for June 08 and now down 47% for July 08. They are going to have to provide some larger incentives to dealers so the can move their inventory. I think $10,000 off MSRP is realistic, and taking into consideration like you are saying that the consumer is really the one that will take the hit in resale value, it is not an unrealistic expectation on the consumer's side. mplshondadlr tries to invoke fear by saying that if you wait thinking you can buy lower later, then you will miss the boat. The trend is down for the past few months for Ridgline sales, and I doubt the rest of the year is going to buck that trend. With back-to-school coming up and then the holiday season, and the fact we are in a recession, who is going to be buying new cars? Not many can afford it. Gas prices are still through the roof, and will continue for years to come. Even if we start new drilling, it is going to be 5-10 years before we see realize the benifits. You would be dumb to jump on the current incentives, especially when they are going to have to ultimately raise the incentives to move inventory, especially on their gas-guzzling Ridgline. I will sit on the sidelines and wait myself, and I would not buy a Ridgleine for more than $10,000 off MSRP, especially if you want to limit your downside on resale value. The problem is that Honda always give "secret" dealer incentives to protect their image and they will say to protect consumers from decreasing resale values. But, would they secretly pass those incentives to you if you signed an agreement not to disclose them? No, they would never tell you if you did not read this board and others and find out about them off others' experiences. That is the risk of buying right now. More secret dealer incentives are going to have to be worked to move inventory, and you don't want to be the one who finds out about them on one of these boards when you thought you just got a good deal, and little did you know you are now thousands of dollars more upside down than you expected. Buying a car is never an investment, but you have to limit your losses. I heard a radion add while in Atlanta last weekend of a dealer offering the $4500 dealer incentive plus 0% for 60 months for Pilots and Ridgelines. That tells me there are more incentives out there that are not being disclosed. It is supply and demand, and they hate it when the ball is in the consumer's court, which it most certaintly is now. I hate to see a company lose money, as it puts Americans out of work, because ultimately it will be the workers that take the hit, not the company or the bigtime executives, but why would I buy a car right now and take part of that hit for the company?
  • Located in Western Iowa, area dealer hit my bid last night on a new 2008 Ridgline RTS for 22,800 all in (includes all his bogus fees etc). Am glad I bought the truck and have it now, but feel if I'd waited until Sep 30 (end of quarter) could have gotten it for 21,000.

    Been tracking inventories in my area from dealer websites past 2 months, and it is an absolute train wreck waiting to happen out there before the 2009s come out. Based on July sales pace in my area there is 22 months of inventory among the 5 dealers within 150 miles of me.
  • "mplshondadlr tries to invoke fear by saying that if you wait thinking you can buy lower later, then you will miss the boat." (I said that when?)

    Nice -- I'm creating fear? What ever, take the tinfoil hat off. My dealership has just three Ridgelines left for the 2008 model year. Thats it, nothing else in-bound. In the Minneapolis area there are fewer then 25 2008 Ridgelines left to serve 3+million people.

    Right now every Honda dealer is offering the Ridgline $5300.00 UNDER invoice which is close to $8k off of MSRP.
  • sbddrjsbddrj Posts: 8
    It looks like the dealers in your area have done well in managing supply. I see 82 vehicles available with 250 of Minneapolis. Or, there just is not any demand for the Ridgline there, and they know it. Kudos to your dealership. However, if you perform the same search for 250 miles of my zip code 35758, there are 624 Ridgelines available. Of course this is not real time inventory figures, but reliable numbers. Like I said $10,000 off MSRP is what I would buy a Ridgeline for. My question to you is would you pay top dollar on a Ridgeline trade-in, or even above KBB trade-in value? I doubt it, so why would I as a consumer want to pay market price for it knowing my fate after the purchase? Honda would be a lot better off with the Pilot and Ridgeline if they would just price them really competitively up front, limit supply, and not offer any dealer incentives at all, other than maybe sales incetives for selling the most in your region or something. Then, there would be a win/win situation for the dealer and consumer. However, with having to offer up to $8,000 off MSRP, and doing it habitually every year, then consumers have come to expect this discount, especially the informed ones. Therefore, the Honda image for resale value and quality just does not equate to anything for the Pilot and Ridgeline, because later on when you want to trade, you find yourself upside down and find noone wants your vehicle. And the thing that makes me so mad about it, is as long as this has been an issue, dealers just don't want to find a way to buck this trend.

    As far as my comment, you siad "Dont listen to other people, you can not get $10000 off the MSRP. If you hold out for that kinda pricing, you'll be a forever shopper, never a buyer."

    As far as I am concerned, if I do not see $10,000 off MSRP and I don't get to buy one, then that is fine as well, as I won't be the loser in the end. Even at $10,000 off MSRP, I would be taking a big hit in resale value later, but I would feel I got a quality vehicle for a "reasonable value" considering the economic conditions.

    I think $10,000 off MSRP is possible, considering consumers have been getting $7,000 - 8,000 off MSRP religiously for the past couple of years. Now that gas is up big, and we are in a recession, then I would say $10,000 off MSRP is fair. If Honda takes a hit, then maybe they will hire a better economist to manage supply and demand.
  • In order to get 10k off MSRP Honda would have to offer $6500.00 in dealer cash. I doubt very much they would ever offer that kind of money :confuse:

    Regardless, you're going to continue to think what you want no matter how much I try to educate people about actual costs.

    Here in the Twin Cities we may have fewer available because we have a climate for 4wd vehicles. Afterall, our winters last from late Ocober to mid April :mad:

    "My question to you is would you pay top dollar on a Ridgeline trade-in, or even above KBB trade-in value?"

    No. But the more you reduce the selling price of a new one, the more you reduce the wholesale value of a used one. At some point the market will adjust.

    "Honda would be a lot better off with the Pilot and Ridgeline if they would just price them really competitively up front, limit supply, and not offer any dealer incentives at all, other than maybe sales incetives for selling the most in your region or something."

    I AGREE!

    Lastly, we are not in a recession, last quarter the United States experienced 1.9% growth and gas prices are falling as we speak. As you know, we have to have to quarters of negative growth yo be in a recession.

    As I said earlier, $8K off MSRP for a Ridgeline is still an awesome deal!

    Thanks for the conversation. I hope you'll get your deal and become a happy Ridgeline owner ;)
  • tbirdtbird Posts: 16
    For those of you that are pricing or have just purchased a Ridgeland what has been the best combination of price below MSRP and interest rate. You would need to give us a term to balance it out. I want to purchase one in Georgia and the best I've been given is right at 8K below MSRP and a rate for 48 to 60 months of 4.75.

    Thanx,

    T-Bird
  • tdbrphtdbrph Posts: 25
    Biker,

    Care to share the name of the dealer? I got no where near that at the end of July from Dealers from Kansas City to St. Louis.

    Thank you.
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